Magnis finds funds for NY plant
Graphite and lithium-ion battery hopeful Magnis Energy Technologies will raise A$34-million through a share placement to fast-track the development of its battery plant in New York.
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Court orders Nornickel to pay $2bn fuel-spill fine
A Russian court ruled that MMC Norilsk Nickel should pay 146-billion rubles ($1.95-billion) in compensation for an Arctic fuel spill, RIA Novosti said, in line with a demand by the nation’s ecological watchdog.
Glencore’s Prodeco hands back Colombia contracts
Diversified major Glencore has confirmed that it is relinquishing its mining rights in Colombia, after the National Mining Agency (ANM) last month declined Prodeco’s request for its coal mines to remain on care and maintenance.
Glencore says that it remains uneconomic to restart operations at Calenturitas and La Jagua, which were placed on care and maintenance in March last year.
Silvercorp plans listing for newly acquired Mexico project
Canada’s Silvercorp has announced the acquisition of the La Yesca silver project, in Mexico, and says it plans to list its New Infini subsidiary as an independent public company.
New Infini has acquired a 100% interest in Infini for $9.25-million in cash and a 45% interest in New Infini shares to arm’s length vendors. Infini is a Mexico company that owns the La Yesca project.
New South Wales blocks South32 coal expansion plans
The New South Wales Independent Planning Commission (IPC) has pushed back on diversified miner South32’s planned extension of its Dendrobium coal mine.
The A$956-million extension project would see an additional 78-million tonnes of run-of-mine coal recovered from two new areas, Areas 5 and 6, comprising 21 long wall panels, and would extend the mine life until the end of 2048.
MC Mining granted permit for Mopane
The South African Department of Mineral Resources and Energy has granted ASX-listed MC Mining the remaining mining right for its Mopane coking and thermal coal project, in Limpopo.
Volt looks at European graphite
Junior Volt Resources has signed a term sheet to potentially acquire a 70% interest in the Zavalievsky graphite business, in the Ukraine.
Zavalievsky is a long life graphite operation that has been operational for 87 years, and currently produces around 250 000 t/y of crushed granite for road construction and concrete manufacturing.
KAZ buyout group lifts bid for the miner by £700m
The group trying to take KAZ Minerals private said on Thursday that it has raised its bid for the copper miner by 22%, as it tries to win round minority shareholders who rejected the earlier proposal for being too low.
Core raises A$40m for Finniss
ASX-listed Core Lithium will raise A$40-million in a share placement to global institutional investors to help advance the development of its Finniss lithium project, in the Northern Territory.
A new coal mine undercuts UK’s claim to climate leadership
As the UK prepares to host the next round of major global climate talks in November, Prime Minister Boris Johnson’s government has adopted the most ambitious emissions-reduction goal among large economies.