Constance - Copperbelt Katanga Mining

Written by Constance

Ivanhoe Mines announces redemption of $575 million 2.50% convertible senior notes due 2026

May 3, 2024May 3, 2024 Constance

Ivanhoe will reduce debt to below $150 million following redemption of the convertible notes VANCOUVER, CANADA – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) (“Ivanhoe Mines” or the “Company”) has announced that it will redeem all of its outstanding 2.50% Convertible Senior Notes due 2026 (the “Notes”) on July 11, 2024 (the “Redemption Date”) at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest on such Notes to, but not including, the Redemption Date (the “Redemption Price”). As at April 29, 2024,… Read More Here

Barrick Announces Extensive Exploration Partnership with Geophysx Jamaica

May 2, 2024May 2, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is pleased to announce that its subsidiary Barrick Gold (International Holdings) Ltd. (“Barrick”) has entered into an exploration earn-in agreement with Geophysx Jamaica Ltd. (“Geophysx”) with respect to certain properties located in Jamaica (the “Agreement”). The Agreement initially provides Barrick with access to approximately 4,000 square kilometers of consolidated land positions throughout the country, with a favorable geological setting comparable to the Dominican Republic, where Barrick operates the Pueblo Viejo mine. Barrick will have the right to work with Geophysx to earn up to an 80%… Read More Here

Mining in DRC Coltan Regional conflict Tin

M23 Rebels Seize Control of Coltan Mining Town in Eastern DRC

May 2, 2024May 2, 2024 Constance

M23 rebels in the eastern Democratic Republic of Congo have captured Rubaya, a vital mining town known for its coltan reserves, following days of intense conflict, according to a rebel spokesperson. Eastern Congo has endured violence since the 1990s, fueled by struggles over identity, ethnicity, and resources, resulting in millions of deaths and the emergence of numerous armed groups. Willy Ngoma, the spokesperson for the Tutsi-led M23 militia, stated that they had taken control of Rubaya in North Kivu province after confronting other armed factions, including the Forces for the… Read More Here

International Mining Equipment

Vale & Caterpillar sign deal to test battery trucks & conduct ethanol studies

May 2, 2024May 2, 2024 Constance

Vale and Caterpillar have signed an agreement to test battery electric large trucks and energy transfer systems, as well as conduct studies on ethanol-powered trucks. The aim is to support Vale in achieving its goals of reducing scope 1 and 2 (direct and indirect) carbon emissions by 33% by 2030 and zeroing its net emissions by 2050. Haul trucks powered by batteries are being developed by Caterpillar. A battery powered truck with capacity of 240 tons will be tested by Vale at its operations in Minas Gerais. Caterpillar is also… Read More Here

Mining in DRC Lithium Mining Personality

Tantalex Lithium Resources Corp. Announces Private Placement and Appointment of Senior Advisor

May 1, 2024May 1, 2024 Constance

Toronto, Ontario, April 29th, 2024 – Tantalex Lithium Resources Corp. (CSE: TTX – FSE: DW8 – OTCQB: TTLXF) (“Tantalex” or the “Corporation”) is thrilled to unveil a non-brokered private placement initiative, representing a significant milestone for the company’s growth trajectory. The private placement comprises approximately 117,090,857 common shares (the “Common Shares”) at a favorable price of $0.035 per Common Share, aiming to generate gross proceeds of up to USD$3,000,000 (the “Private Placement”). The primary allocation of the proceeds from the Private Placement will be directed towards critical project expenditures geared… Read More Here

International Gold

Nevada Gold Mines Celebrates Official Opening of Goldrush Mine

May 1, 2024May 1, 2024 Constance

The Goldrush Project is officially on track to produce 130,000 ounces1 of gold this year and will further enhance the value Nevada Gold Mines (NGM) brings to the state through taxes, employment and meaningful support for communities, said Barrick President and CEO, Mark Bristow, at the project’s opening ceremony attended by Governor Joe Lombardo and local stakeholders. Barrick, which owns 61.5% of the project through the NGM joint venture with Newmont (38.5%), is developing and will operate the mine, scheduled to reach commercial production by 2026 and growing to approximately 400,000… Read More Here

Mining in DRC Governance

PRESIDENT FELIX TSHISEKEDI BEGINS WORKING VISIT TO GERMANY

April 30, 2024May 1, 2024 Constance

Head of State Felix Tshisekedi, accompanied by the distinguished First Lady Denise Nyakeru, arrived in Berlin, Germany, on Sunday for a mission focused on economic cooperation and security. Last evening, at 7 p.m. (local time), the President of the Republic had a one-on-one meeting with Federal Chancellor Olaf Scholz. This meeting was followed by a joint working dinner with the delegations of the two countries. At a press conference, Christiane Hoffmann, First Deputy Spokesperson of the German Federal Government, announced that the discussions will focus first on economic relations between… Read More Here

International Gold

Construction Advances at Blackwater Mine in British Columbia

April 30, 2024April 30, 2024 Constance

Construction at the Blackwater mine in central British Columbia continues to advance according to schedule, positioning the mine for its inaugural gold pour in the latter half of the year. As of March 31, overall construction progress reached approximately 73%, with approximately C$523 million of the guided capital budget, ranging between C$730 million to C$750 million, already expended, as reported by TSX-V-listed Artemis Gold. Steven Dean, Chairperson and CEO, emphasized the pivotal role of the dedicated team overseeing the development of the Blackwater mine. “Execution is paramount in all projects,… Read More Here

International

Glencore now sees FY trading division profit between $3bn-$3.5bn

April 30, 2024April 30, 2024 Constance

Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an elevated interest rate and high commodity price environment, it said on Tuesday. The miner and trader expects full-year marketing earnings before interest and tax (EBIT) in the $3 billion-$3.5 billion range, around the top-end of the firm’s long-term $2.2 billion-$3.2 billion forecast range. However, the company left its full-year production forecast unchanged. For the first quarter, Glencore reported total copper production of about 239,700 metric tons, down 2%… Read More Here

Copper Cobalt Mining in DRC

CMOC Reports Significant Growth in Copper and Cobalt Production for Q1

April 30, 2024April 30, 2024 Constance

Chinese mining company CMOC announced substantial increases in copper and cobalt production for the first quarter of the year, showcasing growth rates of 123% and 392%, respectively. Operating primarily in the Democratic Republic of Congo, CMOC reported production figures of 147,500 metric tons of copper and 25,200 tons of cobalt during the first three months of the year. The company’s Tenke Fungurume Mining (TFM) site expanded its mining capacity in March, elevating its annual capacity to 450,000 tons of copper and 37,000 tons of cobalt. This achievement propels TFM into… Read More Here