Mining Weekly
2 months 1 week ago
Mining group BHP Group BHP is seeking to delay a potential 36-billion pound ($44-billion) London lawsuit over Brazil's worst environmental disaster as it needs more time to prepare, the company's lawyers said on Wednesday.
The world's biggest miner by market value is being sued by around 720 000 Brazilians over the 2015 collapse of the Fundao dam, owned by the Samarco joint venture it holds with Brazilian iron-ore mining company Vale.
Mining Weekly
2 months 1 week ago
Global gold miner Newmont has sold its shares of Triple Flag Precious Metals for $179-million as part of the streamlining of its equity portfolio.
Newmont acquired its equity interest in Triple Flag through the formation of a strategic partnership with Maverix Metals in 2018. Following Newmont’s Goldcorp acquisition in 2019, the gold major sold additional royalties to Maverix in 2020, which resulted in the firm owning 42-million common shares of Maverix and 5-million purchase warrants.
Mining Weekly
2 months 1 week ago
On the once bone-dry soil of a diamond mine in South Africa's central Free State province, Susan Masoha now harvests big bunches of tomatoes, eggplants and spinach. The former cleaner at the mine never expected to find new work at a regenerative farming project set up on the site - part of efforts by a growing number of companies to show that mining can involve more than extraction.
Mining Weekly
2 months 1 week ago
Premier African Minerals said on Wednesday it had finished building a lithium processing plant at its Zulu mine in Zimbabwe and expected to start production of spodumene concentrate later this week. Spodumene is a lithium ore with high concentration of lithium, a key component in the production of batteries for electric vehicles.
Mining Weekly
2 months 1 week ago
Mining companies need to approach environmental, social and governance (ESG) principles on a truth and reconciliation footing and be honest about where they are on a scale of one to 10, says Rifle-Shot Performance business development director Dilley Naidoo. Naidoo, who spoke to Mining Weekly on Zoom, advocates that ESG be a living, breathing, day-to-day reality in mining companies, which need to be conscious of what has gone on before, where the industry is at present, and how it must move into the future. (Also watch attached Creamer Media video.)
Mining Weekly
2 months 1 week ago
Aim-listed Ironveld reports that its subsidiary Ironveld Smelting's acquisition of Ferrochrome Furnaces (FCF), in Rustenburg, South Africa, has become unconditional. FCF will, in accordance with the Companies Act of South Africa, be taken out of business rescue in the coming days and the transaction will close in accordance with its terms, it says.
Mining Weekly
2 months 1 week ago
After having experienced teething issues, plant delivery delays and adverse weather, Aim-listed Botswana Diamonds (BOD) has finally started producing diamonds from the Marsfontein project, in South Africa.
The company has been focused on bringing two operations – Marsfontein and Thorny River – into production in South Africa.
Mining Weekly
2 months 1 week ago
Mining and explosives solutions provider BME – a subsidiary of Omnia Holdings – has signed a conditional sale and purchase of shares agreement (CSPA) with Multi Nitrotama Kimia (MNK), an Indonesian provider of explosives and blasting services. The two companies will form a joint venture (JV), which will provide BME and MNK with enhanced opportunity for growth and expansion in one of the largest global mining markets. Combining BME’s technology and innovative products and systems with MNK’s local networks, experience and resources, will create a highly differentiated and integrated offering with an expanded suite of products and services for both surface and underground mines, BME states.
Mining Weekly
2 months 1 week ago
Base metals miner Central Asia Metals Limited (CAML), which operates in Kazakhstan and North Macedonia, is continuing efforts to expand and CEO Nigel Robinson says the company is in a good position to grow through acquisition. Last year, the company appraised 40 opportunities, signed nondisclosure agreements for 17 and visited two sites, he said in a statement announcing the company’s 2022 results.
Mining Weekly
2 months 1 week ago
The company behind the development of the Black Butte copper project in Montana has appointed mining executive Lincoln Greenidge as CEO, replacing Rob Scargill who has resigned.
Greenidge joined Sandfire Resources America in January 2022 and served as CFO for the last year.
Mining Weekly
2 months 1 week ago
Toronto-listed Argonaut Gold has completed the sale of its Ana Paula project, in Mexico, to Heliostar Metals.
Argonaut sold Ana Paula for $10-million payable in cash upon closing, plus an additional $20-million in deferred cash and share consideration, contingent on meeting certain milestones.
Mining Weekly
2 months 1 week ago
Appian Capital Advisory, an investment adviser to private equity funds that invest solely in mining and mining-related companies, has appointed Douglas Coleman as head of its operations in Mexico.
Based in Hermosillo, Coleman is responsible for developing Appian's relationships with mining companies in Mexico, by identifying and sourcing investment opportunities that align with Appian's objectives. His core areas of focus include due diligence, executing transactions and presenting potential investments to Appian’s Investment Committee. He will also lead on promoting Appian's value proposition and increasing its visibility in Mexico, using his extensive regional network.
Mining Weekly
2 months 1 week ago
TSX-V-listed SPC Nickel has entered into an option agreement with Bathurst Metals, giving it the right to acquire a 100% interest in the McGregor Lake and Speers Lake properties located within the Kitikmeot region of western Nunavut.
Following this transaction, SPC Nickel will control nearly 650 km2 of the highly prospective Muskox Intrusion.
Mining Weekly
2 months 1 week ago
Lithium miner Pilbara Minerals has taken a final investment decision on the A$560-million P1000 project at its Pilgangoora operation, in Western Australia.
The P1000 project would increase the nameplate capacity at Pilgangoora by some 47%, from around 680 000 t/y to 1-million tonnes a year of spodumene concentrate, and would include an expanded concentrator with increased throughput at the Pilgan plant, as well as a range of supporting site infrastructure.
Mining Weekly
2 months 1 week ago
German export credit agency Euler Hermes Aktiengesellschaft has provided rare earths developer Arafura Rare Earths a non-binding letter of in-principle support for a untied loan guarantee of up to $600-million to support the Nolans project, in the Northern Territory.
The untied loan guarantee of $600-million is non-binding, indicative only and if approved, the guarantee would be conditional on Arafura entering into offtake agreements with German-based companies, and the corresponding quantities of neodymium praseodymium (NdPr) products ultimately being processed in Germany into permanent magnets or powertrains.
Mining Weekly
2 months 1 week ago
The 2023 Budget, delivered by Chrystia Freeland on Tuesday, bolsters the ability of the Canadian mining sector deliver for the country, recognising the industry’s central role in enabling the transition to a net-zero economy, says Mining Association of Canada (MAC) president and CEO Pierre Gratton.
"Without mining, there are no electric vehicles, no clean power from wind farms, solar panels or nuclear energy, and no transmission lines," said Gratton.
The release of Budget 2023 comes just days after US President Joe Biden's visit to Ottawa, where the need for Canada-US collaboration on critical mineral supply chains was discussed.
Mining Weekly
2 months 1 week ago
Tungsten developer Group 6 Metals has inked a memorandum of understanding (MoU) with green energy developer Fortescue Future Industries (FFI) to explore the use of renewable energy, heat energy and hydrogen at the Dolphin tungsten mine, in Tasmania.
Under the terms of the MoU, FFI will prepare concept and feasibility studies, with the two companies working to complete commercial, planning, financial, technical and legal due diligence activities, and subject to the outcome of these, progress to definitive agreements as soon as possible.
Mining Weekly
2 months 1 week ago
ASX-listed Highfield Resources has been granted a construction license for the processing plant at its Muga potash project, in Spain.
"The grant of the pending construction licence in Navarra for the process plant is a critical milestone for Muga. I do not think I am exaggerating by saying that we all feel this licence closes a long permitting chapter for Highfield,” said Highfield CEO Ignacia Salazar, adding that the company’s focus was now on building Muga as soon as possible.
Mining Weekly
2 months 1 week ago
JSE-listed Impala Platinum (Implats) has again extended the longstop date for its offer to buy out all the shares it does not own in fellow-listed Royal Bafokeng Platinum (RBPlat) to April 28.
This is to allow the Takeover Special Committee (TSC) time to issue a compliance certificate in respect of the offer, following hearings on March 19 and 21.
Mining Weekly
2 months 1 week ago
Canada is ramping up efforts to become a leader in the green energy transition, unveiling almost C$83-billion ($61-billion) in investment tax credits over the next decade, including tens of billions aimed at building a clean electricity grid.
The measures, along with increased health spending, will swell the country’s deficit at a time of heightened economic risks. Prime Minister Justin Trudeau’s government is making the case that the cost is unavoidable if Canada hopes not only to live up to its climate promises, but to profit from the world’s transition away from fossil fuels to cleaner power.
Mining Weekly covers real-time news on mining projects across a range of minerals including gold, platinum, diamonds, copper and ferrous metals.
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