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Category: Corporate News

Barrick Gold Considers Exit from Canada with Hemlo Mine Sale 1 Gold Corporate News International 

Barrick Gold Considers Exit from Canada with Hemlo Mine Sale

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
Vedanta Explores U.S. Listing for KCM to Raise $1 Billion 2 Mining in Zambia Copper Corporate News Economy 

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

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
Sandvik Secures Record BEV Order for South32's Hermosa Mine in Arizona 3 International Corporate News Mining technology Technology & Innovation 

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

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
FQM Reports Q1 Loss Amid Cobre Panamá Shutdown and Weaker Copper Sales 4 International Copper Corporate News 

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

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
Barrick Gold Sells Assets and Pivots to Copper as Bullion Prices Soar 5 International Copper Corporate News Gold 

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

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
ERG Deploys Autonomous Trucks, AI Technology at Kazakhstan Operations in Push Toward Mining Innovation 6 Corporate News Mining Equipment Technology & Innovation 

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

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
Eurasian Resources Group refutes negotiations to sell the Company 7 Corporate News Press Release 

Eurasian Resources Group refutes negotiations to sell the Company

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
U.S. Investor Offers $5 Billion for Eurasian Resources Group Amid Kazakhstan’s Rare Earth Push 8 Corporate News 

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

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
MIBA’s Diamond Ambitions Stall Amid Delays and Unreleased Funds 9 Corporate News Diamond Mining in DRC 

MIBA’s Diamond Ambitions Stall Amid Delays and Unreleased Funds

Constance
As of April 16, 2025, Société Minière de Bakwanga (MIBA), the DRC’s state-owned diamond company, has yet to resume operations. The company has not appeared in production reports since mid-2024, casting doubt on the ambitious targets set by Chairman Jean-Charles Okoto. In November 2024, Okoto declared plans to reach one million carats per month in 2025, aiming for an annual output of 12 million carats. This would mark a dramatic leap, given that the DRC produced 8.34 million carats in 2023—already a decline from 10.78 million in 2022. Appointed in… Read More Here
DRC Grants Oil Rights to Sonahydroc in Shift Toward State-Led Energy Strategy 10 Mining in DRC Corporate News Oil & Gas 

DRC Grants Oil Rights to Sonahydroc in Shift Toward State-Led Energy Strategy

Constance
At its April 11 Council of Ministers meeting, the Democratic Republic of Congo (DRC) approved a draft decree granting petroleum rights directly to the state-owned Société Nationale des Hydrocarbures du Congo (Sonahydroc). This decree establishes the legal and fiscal framework for the transfer, aligning with the country’s oil and gas law enacted on August 1, 2015. The move signals a renewed push by the DRC to revitalize oil exploration and increase domestic production, aiming to better capitalize on its untapped hydrocarbon potential. The plan includes the immediate allocation of blocks… Read More Here

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