Corporate News - Copperbelt Katanga Mining

CMOC Group Acquires Lumina Gold for C$581 Million to Advance Cangrejos Gold Project 1

Chinese mining company CMOC Group has agreed to acquire Canada’s Lumina Gold in an all-cash deal worth C$581 million, marking a significant step for the Cangrejos gold project in Ecuador. Lumina CEO Marshall Koval expressed excitement about the transition of the Cangrejos project, saying, “After more than a decade of advancing the Cangrejos project, we are thrilled to see it move to CMOC, which is poised to further develop it into one of the largest gold projects globally.” CMOC will pay C$1.27 per Lumina share, offering a 71% premium to… Read More Here

Mining Personality Corporate News International

Anil Agarwal Pushes Vedanta Restructuring to Cut Debt and Capitalize on Critical Minerals

April 25, 2025April 25, 2025 Constance

Indian billionaire Anil Agarwal is nearing the completion of a long-anticipated restructuring of his metals-to-energy conglomerate, Vedanta, in a strategic move aimed at reducing the group’s $11 billion debt and providing sharper focus across its diverse businesses. Despite the cooling of aluminum, zinc, and copper prices after their 2024 peaks, the 71-year-old tycoon remains confident that simplifying Vedanta’s corporate structure and capitalizing on rising demand for critical minerals will enhance the group’s appeal — even amid global recession concerns. The demerger plan will result in the listing of Vedanta’s major… Read More Here

Gold Corporate News International

Barrick Gold Considers Exit from Canada with Hemlo Mine Sale

April 25, 2025April 25, 2025 Constance

Barrick Gold is preparing to sell its last remaining Canadian mine, aiming to take advantage of record-high gold prices and renewed investor interest in North American mining assets. According to sources familiar with the matter, the company initiated the sale process for its Hemlo gold mine in Ontario in April and has engaged Canadian Imperial Bank of Commerce (CIBC) to identify potential buyers and manage the bidding process. Neither Barrick nor CIBC has commented publicly on the matter. If completed, the sale would mark Barrick’s full exit from mining operations… Read More Here

Mining in Zambia Copper Corporate News Economy

Vedanta Explores U.S. Listing for KCM to Raise $1 Billion

April 25, 2025April 25, 2025 Constance

Vedanta Resources is exploring a potential U.S. public listing for its Zambian subsidiary, Konkola Copper Mines (KCM), as part of efforts to raise approximately $1 billion to fund mine development. The company has appointed Barclays and Citigroup to advise on a potential initial public offering (IPO), which is still in the early stages. New York is being considered as one of the possible listing locations. While no timeline has been confirmed, the listing is seen as one of the most viable options after previous attempts to secure private investment did… Read More Here

International Corporate News Mining technology Technology & Innovation

Sandvik Secures Record BEV Order for South32’s Hermosa Mine in Arizona

April 25, 2025April 25, 2025 Constance

Swedish engineering giant Sandvik has landed its largest-ever order for battery-electric vehicles (BEVs), with ASX- and JSE-listed South32 selecting the company to supply a fleet of underground mining equipment for its Hermosa critical minerals project in Arizona, USA. The order, valued at approximately SEK 750 million, was confirmed in the second quarter of 2025 and includes a combination of battery-electric and conventional underground mining machines. Deliveries will begin in Q4 2026 and extend through 2030, with the majority of equipment scheduled to arrive in 2026 and 2027. “We’re proud that… Read More Here

International Copper Corporate News

FQM Reports Q1 Loss Amid Cobre Panamá Shutdown and Weaker Copper Sales

April 25, 2025April 25, 2025 Constance

TSX-listed First Quantum Minerals has posted a net loss of $23 million, or $0.03 per share, for the quarter ending March 31, despite achieving an adjusted profit of $2 million. The results reflect ongoing challenges from lower sales volumes, continued costs at the idled Cobre Panamá mine, increased financing and tax expenses, and foreign exchange impacts. The company recorded a gross profit of $331 million and EBITDA of $377 million in Q1. However, the monthly expenditure of approximately $13 million at the suspended Cobre Panamá mine continues to weigh on… Read More Here

International Copper Corporate News Gold

Barrick Gold Sells Assets and Pivots to Copper as Bullion Prices Soar

April 25, 2025April 25, 2025 Constance

Barrick Gold, one of the world’s leading gold producers, is seizing the opportunity presented by record-high gold prices to streamline its portfolio and pivot more aggressively toward copper mining. On Tuesday, the company announced the sale of its 50% stake in the Donlin gold project in Alaska to billionaire investor John Paulson and Novagold Resources for $1 billion—well above Toronto-Dominion Bank’s estimated $600 million valuation. This move is part of a broader strategy to divest non-core assets while gold prices remain elevated. Barrick has also hinted at additional asset sales,… Read More Here

Corporate News Mining Equipment Technology & Innovation

ERG Deploys Autonomous Trucks, AI Technology at Kazakhstan Operations in Push Toward Mining Innovation

April 23, 2025April 23, 2025 Constance

Global metals and mining company Eurasian Resources Group (ERG) is implementing AI technologies at its operations in Kazakhstan, including autonomous dump trucks and an advanced Manufacturing Execution System, as part of its continuing digital transformation. The company is the first in Kazakhstan to deploy driverless vehicles for mining operations. By adopting autonomous technologies, ERG aims to reshape mining industry dynamics in Central Asia and contribute to mining’s next chapter through cutting-edge innovations. ERG’s autonomous dump trucks at its Vostochny open-pit coal mine have already transported over two million tonnes of… Read More Here

Corporate News Press Release

Eurasian Resources Group refutes negotiations to sell the Company

April 23, 2025April 23, 2025 Constance

Shukhrat Ibragimov, ERG’s CEO and Chairman of the Board of Directors: “ERG is definitely not for sale” In response to a number of media speculations in the course of the last few weeks, including publications about a Mr James Cameron’s proposal to buy Eurasian Resources Group (ERG), Mr Shukhrat Ibragimov, Chairman of the ERG Board of Directors and its Chief Executive Officer, stated there are no negotiations on the sale of ERG. He said the company’s management is fully committed to further consistent, sustainable development of the Group. There are… Read More Here

Corporate News

U.S. Investor Offers $5 Billion for Eurasian Resources Group Amid Kazakhstan’s Rare Earth Push

April 21, 2025April 22, 2025 Constance

American businessman James Cameron has made a $5 billion offer to acquire Eurasian Resources Group (ERG), according to a letter sent to the company’s board. The bid comes as ERG prepares to play a central role in Kazakhstan’s ambitious expansion of its rare earth metals sector. ERG, a Luxembourg-based mining conglomerate, produces copper, cobalt, aluminum, and iron ore, and is 40% owned by the Kazakh government. In 2023, the company announced the formation of a task force to evaluate rare earth and rare metal deposits in Kazakhstan. Interest in these… Read More Here