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Category: Corporate News

Ivanhoe Mines provides update to 2025 capital expenditure guidance 1 Mining in DRC Copper Corporate News Press Release 

Ivanhoe Mines provides update to 2025 capital expenditure guidance

Constance
Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete announced the company’s fourth quarter and full-year production results for the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) and the ultra-high-grade Kipushi zinc mine, also in the DRC. In addition, the company has announced its 2025 production guidance for Kamoa-Kakula and Kipushi, as well as updated 2025 group capital expenditure guidance. Kamoa-Kakula delivered record production in 2024 of 437,061 tonnes of copper in concentrate, a 12% year-on-year increase, following the ramp up… Read More Here
Ivanhoe Mines Launches an Offering of US$600,000,000 Senior Notes Due 2030 2 Mining in DRC Corporate News News in Brief Press Release 

Ivanhoe Mines Launches an Offering of US$600,000,000 Senior Notes Due 2030

Constance
Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announces that it has commenced an offering (the “Offering”) of an aggregate principal amount of US$600,000,000 senior notes due 2030 (the “Notes”). The Notes will be senior unsecured obligations of the company and will be guaranteed on a senior basis by certain of the company’s subsidiaries (the “Guarantors”). In connection with the Offering, the company entered into a US$120.0 million revolving credit facility agreement dated December 22, 2024, with, amongst others, the Guarantors and the lenders named therein. The gross proceeds from the Offering… Read More Here
Panama opens public consultation on First Quantum mine  3 International Corporate News 

Panama opens public consultation on First Quantum mine 

Constance
Panama’s government has kicked off a public consultation on an environmental audit of First Quantum Minerals’s (TSX: FM) Cobre Panama copper mine, which was announced in mid-2024 by then president-elect José Raúl Mulino. The Ministry of Environment (MiAmbiente) invited this week environmental organizations, local communities, academia, the private sector, and the general public to participate in the process, which will remain open until February 7. Mulino announced in July last year he would order a “strict audit” of the $10 billion mine, which was shuttered in 2023 after Panama’s Supreme… Read More Here
CMOC Group Achieves Record Cobalt Production with African Expansion 4 Mining in DRC Battery Metals Cobalt Corporate News 

CMOC Group Achieves Record Cobalt Production with African Expansion

Constance
China’s CMOC Group set a new benchmark in global cobalt production in 2024, thanks to a rapid increase in output from its African mining operations. The company announced it produced 114,165 tonnes of cobalt last year, nearly doubling the 55,526 tonnes achieved in 2023. This output far exceeded its 2024 guidance of 70,000 tonnes, solidifying CMOC’s status as the world’s leading cobalt supplier. In 2023, CMOC overtook Glencore as the largest global cobalt producer, driven by significant production gains from its Kisanfu mine in the Democratic Republic of Congo (DRC),… Read More Here
KoBold Metals Raises $537 Million to Accelerate AI-Driven Mineral Exploration 5 Exploration Copper Corporate News New Mining Projects 

KoBold Metals Raises $537 Million to Accelerate AI-Driven Mineral Exploration

Constance
KoBold Metals, a Berkeley-based mining and artificial intelligence (AI) start-up backed by Bill Gates and Jeff Bezos, has raised $537 million in its latest funding round. This Series C round values the company at $2.96 billion and was co-led by existing investor T. Rowe Price and Durable Capital Partners. Other participants included Gates’ Breakthrough Energy Ventures, Andreessen Horowitz, and new backers like StepStone. With total funding of $1 billion to date, KoBold is positioning itself as a leading competitor in the critical minerals sector, challenging China’s dominance. The company specializes… Read More Here
Barrick Continues to Unlock Value Embedded in Its Asset Base 6 International Corporate News Gold 

Barrick Continues to Unlock Value Embedded in Its Asset Base

Constance
Barrick is projecting a 30% growth in the production of gold-equivalent ounces from its existing assets by the end of this decade while it continues to unlock the value embedded in its portfolio. Mark Bristow says while Barrick was alert to potentially value-accretive opportunities generated by the consolidation of the industry, it had the rare luxury of doing so from an asset base that would support organic growth well into the future. “Five years ago, we set out to build a sustainably profitable gold and copper business focused on world-class… Read More Here
Panama president sees no immediate risk from First Quantum mine 7 International Copper Corporate News 

Panama president sees no immediate risk from First Quantum mine

Constance
Panama’s President Jose Raul Mulino said a government report shows there are no immediate environmental or safety risks from Cobre Panama, the First Quantum Minerals Ltd. copper mine that was shut in 2023. Mulino cited a recent report conducted by the environment ministry, which examined minerals and other materials stored at the site. Mulino said the government will start to study a “conservation plan” for the mine in January. “Right now, there is no irreversible contamination,” Mulino said Thursday. “Even though it doesn’t represent an imminent risk for the country… Read More Here
DRC President Announces $50 Million Investment to Revive MIBA Mining Company 8 Mining in DRC Corporate News New Mining Projects 

DRC President Announces $50 Million Investment to Revive MIBA Mining Company

Constance
The President of the Democratic Republic of Congo (DRC), Félix Tshisekedi, has announced a $50 million investment to revive the struggling Bakwanga Mining Company (MIBA). The announcement was made on Thursday, December 26, 2024, during his visit to Mbuji-Mayi, the capital of Kasaï Oriental province, as part of his ongoing tour of the country’s provinces. Amidst a warm welcome from the local population, President Tshisekedi emphasized the importance of strict oversight in the use of these funds to ensure the revitalization of MIBA, which has faced decades of financial challenges.… Read More Here
Sibanye-Stillwater Secures $500 Million Streaming Deal with Franco-Nevada 9 International Corporate News 

Sibanye-Stillwater Secures $500 Million Streaming Deal with Franco-Nevada

Constance
Multinational metals and mining group Sibanye-Stillwater has finalized a $500-million streaming agreement with Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada Corporation. The deal grants Franco-Nevada access to gold and platinum streams from Sibanye-Stillwater’s Marikana, Kroondal, and Rustenburg operations in South Africa, in exchange for an upfront payment of $500 million. Under the terms of the agreement, Sibanye-Stillwater will deliver: Sibanye-Stillwater will also receive a production payment equal to 5% of the spot price of the respective metals during the initial delivery periods, increasing to 10% for gold once 237,000 ounces… Read More Here
Vedanta to exclude base metals business from sweeping demerger 10 International Corporate News News in Brief 

Vedanta to exclude base metals business from sweeping demerger

Constance
Indian miner Vedanta will not carve out a separate listed unit for its base metals business, it said last week, after discussing the matter with its stakeholders and lenders. Vedanta, led by billionaire Anil Agarwal, had last year launched a sweeping overhaul to carve itself up into six separate businesses, in a move aimed at shoring up the group’s financial performance. The company will consider the base metals business demerger at a later stage, it said in an exchange filing, adding that the share entitlement ratio for the demerger of… Read More Here

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