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Ivanhoe Mines secures $300m in stream financing for Platreef

December 9, 2021January 25, 2022 admin

Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete are pleased to announce that the company’s South African subsidiary, Ivanplats, has concluded stream-financing agreements with Orion Mine Finance and Nomad Royalty Company for a US$200 million gold-streaming facility and a US$100 million palladium- and platinum-streaming facility for its world-scale Platreef palladium-rhodium-platinum-nickel-copper-gold project in Limpopo Province, South Africa. The proceeds will be used to advance the first phase of Platreef’s mine development, with commercial production expected in 2024. The definitive feasibility study for Platreef’s phased development… Read More Here

Mining safety

Mine modernisation ‘key to stopping mine deaths’

December 8, 2021January 25, 2022 admin

Mining companies in South Africa should adopt technologies and solutions that enable mine modernisation to improve safety measures for workers, according to attendees of MineSafe 2021. A stakeholders’ statement from the Minerals Council of South Africa said companies had agreed to adopt technologies that help adopt safety leading practices, such as collision prevention systems, to address “transport-related risks,” in pursuit of ‘Zero Harm’ production. Additionally, stakeholders agreed to accelerate the adoption of production technologies like faster rock drills to shorten the mining cycle and drilling outside the box cut, which… Read More Here

Copper International

Copper price up as China imports rise

December 8, 2021January 25, 2022 admin

Copper prices rose on Tuesday after China’s central bank eased monetary policy and as imports into the world’s top metals consumer climbed in November. The People’s Bank of China said on Monday it would cut the amount of cash that banks must hold in reserve, releasing the funds in long-term liquidity to bolster slowing economic growth. “China’s policy easing has sparked optimism; meanwhile, we have probably seen the worst in the property market,” said ING analyst Wenyu Yao. Meanwhile, China’s copper imports in November rose for a third straight month,… Read More Here

Equipment & Technology International Mining technology

Metso Outotec targets green steel with Circored

December 8, 2021January 25, 2022 admin

Metso Outotec has launched the next generation of the 100% hydrogen-based Circored process for fine ore production to continue its decarbonisation offering for the steelmaking industry. The company said the process uses hydrogen as a reducing agent instead of energy produced from fossil fuels, allowing the iron and steel industry to “efficiently tackle the decarbonisation challenge.” The flexible Circored process produces highly metalized DRI (direct reduced iron) or HBI (hot briquetted iron) that can directly be used as feed material in electric arc furnaces for carbon-free steelmaking, it explained. The process… Read More Here

Gold

Barrick’s Bulyanhulu acquires six new prospecting licences in Tanzania

December 8, 2021January 25, 2022 admin

Twiga Minerals, a joint venture between Barrick and the Government of Tanzania, announced on Tuesday the acquisition of new prospecting licences in Tanzania by Bulyanhulu Gold Mine Limited, a subsidiary of Barrick. Bulyanhulu has entered into a binding agreement with Barrick Gold (NYSE: GOLD)(TSX: ABX), Tembo Gold Corp, and the Mineral Industry Promotion and Consulting Company Limited, a wholly-owned subsidiary of Tembo, for the acquisition. Bulyanhulu will acquire from MIPCCL a 100% interest in six prospecting licences located in areas adjacent to the Bulyanhulu mine and have the potential to… Read More Here

Diamond

De Beers to explore for diamonds in Angola

December 8, 2021December 8, 2021 admin

De Beers, the world’s largest diamond miner by value, said on Tuesday it had applied to conduct exploration activities in north-eastern Angola, following reforms implemented by the country’s government to boost the sector. The company, a unit of Anglo American (LON: AAL), and the country authorities will start discussions around a mineral investment contract, De Beers said. The agreement would set legally binding terms and conditions to be met by both parties for activities in north-eastern. The nation’s diamond industry, which began a century ago under Portuguese colonial rule, is successfully emerging from a… Read More Here

Gemstones Mining in Zambia

Gemfields’ latest emerald auctions generate a record $37.9m in revenue

December 8, 2021December 12, 2021 admin

A series of five emerald mini-auctions in November and December has generated a record $37.9-million in revenue for gemstone miner Gemfields. All carats on offer were sold and the emeralds, produced at the company’s 75%-owned Kagem mine, in Zambia, were sold for an average of $150.65/ct. Among the emeralds on auction was the 7 525 ct Chipembele emerald recovered at the Kagem mine. It is the largest emerald ever to be recovered at the mine. Longstanding Kagem customer Eshed-Gemstar bought the Chipembele emerald. “Our end-of-year emerald auction has been one of the most hotly contested… Read More Here

Mining in Zambia Copper Gold

Galileo signs option agreement to earn 51% interest in Zambia copper/gold project

December 8, 2021January 25, 2022 admin

Aim-listed Galileo Resources has entered into an option and joint venture (JV) agreement with Garbo Resource Solutions to earn an initial 50% interest in the Shinganda copper/gold project, in Zambia. Galileo has committed to spending $500 000 on exploration and evaluation at Shinganda over a two-year period. “This project fits the Galileo model in that the licence areas have good copper and gold intersections from previous campaigns. The agreement gives us the opportunity for new deposit discovery and/or small mine production potential. “We look forward to working on this project commencing early in the New Year,” Galileo CEO Colin Bird says. Galileo plans to review past exploration data and undertake… Read More Here

Mining in DRC Mining Policy

DRC mining reserves have not been undervalued in Sino-Congolese contracts, says BCPSC

December 7, 2021January 25, 2022 admin

The communication service of the Sino-Congolese Program Coordination and Monitoring Office (BCPSC), Monday, December 6, provided an update on the alleged corrupt practices in which structures and certain Sino-Program officials are said to have become involved. Congolese, according to the Congo Hold-Up survey. The latter dwelled on the projects of the Sino-Congolese program, in particular mining, infrastructure projects and the Busanga hydroelectric power station. The BCPSC communication service specifies that the Busanga Project does not enter into the accounts of SICOMINES. “SICOHYDRO, BUSANGA hydroelectric power station is a private project carried… Read More Here

Energy Mining in Zambia

Vedanta to support Zambia on green energy transition goals

December 7, 2021January 25, 2022 admin

Natural resources company Vedanta intends to support the Zambian government in its green energy transition goals, it confirmed on December 7. This decision was bolstered by the steps already taken by the government, including the appointment of the country’s first Green Economy and Environment Minister Collins Nzovu in September, and is aligned to the further initiatives that have been presented, it said in a statement. Vedanta pointed out that demand for electricity in the country has been increasing over the last few years, while generation capacity remains stagnant, resulting in “instability in… Read More Here