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Category: International

Invictus Energy Signs MoU to Power Zimbabwe’s Eureka Gold Mine 1 International Gold Mining Projects 

Invictus Energy Signs MoU to Power Zimbabwe’s Eureka Gold Mine

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Independent upstream oil and gas company Invictus Energy signed a Memorandum of Understanding (MoU) with energy firm Himoinsa Southern Africa Proprietary Limited and mining company Dallaglio Investments Pvt Ltd. for the development of a gas-to-power project to supply electricity to Eureka Gold Mine in Zimbabwe. Invictus EnergyΒ will provide feedstock from its Cabora Bassa Project to fuel the proposed 12MW gas-to-power plant, which will be constructed by Himoinsa. Electricity generated from the plant will be transmitted via the national grid to power operations at Dallaglio Investments’ Eureka Mine, located 50km away… Read More Here
Vale CEO Confirms Minas-Rio Project Unaffected by BHP's Bid for Anglo American 2 International 

Vale CEO Confirms Minas-Rio Project Unaffected by BHP’s Bid for Anglo American

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During a conference call on Thursday, Vale SA’s CEO, Eduardo Bartolomeu, assured analysts that BHP Group’s bid for Anglo American would have no impact on Vale’s Minas-Rio project. Bartolomeu emphasized that the ongoing project under Anglo American’s management would be respected regardless of any future developments. Responding to inquiries about potential interest in Anglo’s assets, Bartolomeu stated that while Vale would indeed be interested, the company currently prioritizes internal projects over external acquisitions. “We don’t see any impact on the Minas-Rio deal. It’s being done, of course, by Anglo and… Read More Here
South Africa scrutinizes BHP bid for Anglo weeks before election 3 International Copper 

South Africa scrutinizes BHP bid for Anglo weeks before election

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South Africa’s government is scrutinizing BHP Group’s proposed deal to buy Anglo American, a spokesperson said, with the deal likely to concern officials the coming weeks before a general election where the governing party’s majority is at risk. The deal worth about $39 billion would involve Anglo exiting its platinum and iron ore assets in South Africa. It could trigger large capital outflows and further dent the country’s reputation as a destination for mining investment. Anglo’s potential exit would mark the end of an era for a company founded in… Read More Here
Chile president wants copper output boost of 1Mt by 2026 4 International Copper News in Brief 

Chile president wants copper output boost of 1Mt by 2026

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Chile President Gabriel Boric said on Thursday he is targeting an increase in the country’s annual copper output by 1 million metric tons by the end of his term in 2026. β€œWe have to take advantage of this super-cycle of copper that has been spoken of positively in recent days,” he said at an event, adding that he was referring to state-run miner Codelco as well as privately run operations in the country that is the world’s top copper producer. SOURCE:mining.com Read More Here
Anglo’s stumbles have made it prey for mining’s biggest predator 5 International Copper Mining Companies 

Anglo’s stumbles have made it prey for mining’s biggest predator

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When former boss Mark Cutifani left Anglo American in mid-April 2022, things had rarely looked better for the century-old miner. Metals prices soared as the world emerged from lockdowns, the company had recently posted its best-ever annual profit and the popular industry veteran was handing over to a trusted lieutenant. Anglo stock hit a record the same day. Two years later, the company’s reputation is in tatters after a series of missteps sent its value plunging by half. And now industry heavyweight BHP Group is moving in. BHP’s proposal to… Read More Here
Incident at Glencore's Copper Smelter Sparks Concerns from Australian Workers' Union 6 International Copper Mine Safety 

Incident at Glencore’s Copper Smelter Sparks Concerns from Australian Workers’ Union

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The Australian Workers’ Union (AWU) has raised serious concerns following an incident at Glencore’s copper smelter in Mount Isa, which left two workers critically injured. AWU Queensland secretary Stacey Schinnerl expressed deep concern over the incident, stating, β€œTough questions need to be asked about how an incident like this has occurred.” According to reports, the contract workers were at the Mount Isa Mines copper smelter when a steam vent opened adjacent to their work area. The incident occurred on Thursday and resulted in severe injuries to the workers. ABC News… Read More Here
Workers in Mozambique block entrance to ruby mine 7 International News in Brief 

Workers in Mozambique block entrance to ruby mine

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One hundred workers from the logistics company REEF blocked the main entrance of the camp and the mine area where the company FURA’s ruby washing plant is located, in the Montepuez district, Cabo Delgado. The issue at hand is a debt of 17 million meticais owed by the REEF company. According to AntΓ³nio Ramalho, secretary of the local union committee, workers have not received their wages for three months, and this is the way they found to pressure REEF to honor its commitments. The REEF representative, Rui Frederico, says the… Read More Here
Anglo American Rejects BHP's Unsolicited Proposal 8 International Copper 

Anglo American Rejects BHP’s Unsolicited Proposal

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Anglo American plc has officially rejected the unsolicited, non-binding, and highly conditional combination proposal from BHP Group Limited, following careful consideration by its Board. The Proposal involved an all-share offer for Anglo American by BHP, contingent upon Anglo American completing two separate demergers of its entire shareholdings in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American shareholders. These transactions were inter-conditional. After thorough evaluation with its advisers, the Board concluded that the Proposal significantly undervalues Anglo American and its future prospects. Additionally, the proposed structure was… Read More Here
𝗕𝗛𝗣, π—§π—›π—˜ π—ͺ𝗒π—₯π—Ÿπ—— '𝗦 π—•π—œπ—šπ—šπ—˜π—¦π—§ π— π—œπ—‘π—œπ—‘π—š 𝗖𝗒𝗠𝗣𝗔𝗑𝗬 π—ͺ𝗔𝗑𝗧𝗦 𝗧𝗒 𝗕𝗨𝗬 π—”π—‘π—šπ—Ÿπ—’ π—”π— π—˜π—₯π—œπ—–π—”π—‘ 9 International 

𝗕𝗛𝗣, π—§π—›π—˜ π—ͺ𝗒π—₯π—Ÿπ—— ‘𝗦 π—•π—œπ—šπ—šπ—˜π—¦π—§ π— π—œπ—‘π—œπ—‘π—š 𝗖𝗒𝗠𝗣𝗔𝗑𝗬 π—ͺ𝗔𝗑𝗧𝗦 𝗧𝗒 𝗕𝗨𝗬 π—”π—‘π—šπ—Ÿπ—’ π—”π— π—˜π—₯π—œπ—–π—”π—‘

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BHP Group Limited , the biggest mining company in the world by market capitalization ,has made a move to acquire Anglo American, De Beers parent company. Anglo American,a diversified mining and metals giant owns 85 percent of De Beers Group, while 15 percent is owned by Government of Botswana. In a statement today Anglo American , headquartered in the United Kingdom ,confirmed that it is has received an unsolicited, non-binding and highly conditional combination proposal from BHP Group Limited (BHP). The proposal comprises an all-share offer for Anglo American by… Read More Here
Anglo American confirms non-binding offer from BHP 10 International 

Anglo American confirms non-binding offer from BHP

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Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group. The company issued a statement after Bloomberg reported that BHP, the world’s biggest miner, was considering a potential takeover offer for Anglo. The proposal comprises an all-share offer for Anglo American by BHP and would be preceded by separate demergers by Anglo American of its entire shareholdings in Anglo American Platinum Ltd. and Kumba Iron Ore Ltd. to Anglo American shareholders, Anglo said. SOURCE:mining.com Read More Here

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