International - Copperbelt Katanga Mining

Redpath Mining Inc. Expands Global Presence with Acquisition of RUC Mining Contractors Pty Ltd 1

Redpath (Australia) Holdings Pty Ltd, a subsidiary of Redpath Mining Inc, has announced the signing of a share purchase agreement to acquire RUC Mining Contractors Pty Ltd (RUC), pending regulatory approvals. The completion of the acquisition, expected by June 2024, will integrate RUC into the Redpath Group, reinforcing its status as a leading global provider of mine development, shaft sinking, and raise drilling services. George Flumerfelt, CEO of The Redpath Group, expressed confidence in the acquisition, emphasizing RUC’s reputation for quality service and expertise. He anticipates that the combined capabilities… Read More Here

International Governance

Bassirou Diomaye Faye: Senegal’s Unexpected Path to Presidential Victory

March 29, 2024March 29, 2024 Constance

Bassirou Diomaye Faye’s ascension from relative obscurity to Senegal’s presidency marks a remarkable chapter in the nation’s political landscape. Once a tax collector with no political aspirations, Faye’s journey captivates amid a tumultuous period in Senegalese politics, culminating in his historic win as Africa’s youngest elected president. Nicknamed “Mr. Clean,” Faye’s rise follows a turbulent narrative, including a stint in jail alongside his ally and influential figure, Ousmane Sonko. Released just before the presidential election, Faye swiftly captured the attention of the nation with promises of sweeping reforms. Described as… Read More Here

International Mining tax Taxes

Rio Tinto’s Global Tax and Royalty Contributions in 2023

March 29, 2024March 29, 2024 Constance

Rio Tinto, a diversified mining company, reported substantial tax and royalty payments totaling $8.5 billion worldwide in 2023, with the majority allocated to Australia, where it conducts nearly half of its global operations. Compared to the $10.8 billion paid in 2022, which included $1.5 billion in Australian corporate tax payments related to previous years, the 2023 figure reflects a decrease. In Australia, tax and royalty payments amounted to $6.6 billion in 2023, inclusive of $4.1 billion in corporate tax payments. Additionally, Rio Tinto disbursed significant sums in Canada ($601 million),… Read More Here

International Lithium

Andrada Mining Reports Significant Production Increase in Namibia Operations

March 28, 2024March 28, 2024 Constance

Andrada Mining, a company with mining and exploration assets in Namibia, has announced a remarkable 60% year-on-year increase in ore processed for the financial year ended February 29, reaching 915,599 metric tons. The Uis mine, a key asset of Andrada Mining, witnessed a notable surge in tin concentrate production, up by 54% to 1,474 metric tons, with contained tin production also rising by 51% to 885 metric tons. During this period, plant availability at the Uis mine improved to 91%, compared to 87% in the previous financial year. Additionally, the… Read More Here

International Gold

Barrick Academy to Empowering Frontline Leaders for Sustainable Mining

March 27, 2024March 27, 2024 Constance

Barrick Gold Corporation has announced a significant initiative aimed at enhancing leadership capabilities within its operations in the Africa and Middle East region. Over the next 24 months, the Barrick Academy will provide specialized training to more than 2,000 foremen, supervisors, and superintendents. Designed to cultivate individual growth and leadership skills, these tailor-made programs will equip frontline managers with the tools to effectively lead their teams and drive improved performance across operations. The inauguration of this world-class training facility takes place at the former Buzwagi mine site in Tanzania. This… Read More Here

International Mine Safety

Glencore Initiates McArthur River Mine Recovery Post-Cyclone

March 27, 2024March 27, 2024 Constance

After enduring the impact of Cyclone Megan, Glencore, a commodities major, is now taking steps to restore its McArthur River zinc and lead mine in Australia to normal operations. The mine, located in the Northern Territory, suspended operations on March 18 in anticipation of the cyclone’s arrival. Cyclone Megan brought unprecedented rainfall, with a deluge of 274 mm within a 24-hour period on March 19, breaking a 50-year-old rainfall record set in 1974. In response to concerns raised by community members, Traditional Owners, and the media, Glencore emphasized its transparency… Read More Here

Gemstones Gold International

Gemfields Evaluates Options for Nairoto Gold Prospect in Mozambique

March 27, 2024March 27, 2024 Constance

Gemfields, a leading ruby and emerald miner, is considering seeking a partner or exploring a potential sale for its Nairoto gold prospect in Mozambique, depending on drilling results. During the company’s annual results announcement on Monday, CEO Sean Gilberton emphasized that while Gemfields is not inclined to become a long-term gold production company, it remains open to strategic partnerships or divestment of the Nairoto project. The decision regarding Nairoto will be heavily influenced by the drilling and assay results, particularly from the TL5 section of the project. Despite initial interruptions… Read More Here

International Coal

Glencore Investors Push Against Coal Spin-Off, Citing Financial and Environmental Benefits

March 25, 2024March 25, 2024 Constance

A growing number of Glencore investors are advocating for the company to retain its coal assets instead of spinning them off, citing financial prospects and environmental considerations. Glencore, set to expand its coal operations with the acquisition of Teck’s assets, plans to list the combined coal unit separately in New York. However, investors argue that coal remains a lucrative option for the foreseeable future, even amid a shift towards renewable energy. The acquisition of Teck’s coal business is expected to significantly boost Glencore’s free cash flow, with analysts estimating $5-6… Read More Here

International Copper

Fortescue eyes developing its copper assets, not looking at Cobre Panama

March 25, 2024March 25, 2024 Constance

Australia’s Fortescue, the world’s fourth-largest iron ore miner, is looking at developing its copper resources but has not made a decision yet, its founder and executive chairman told Reuters on Saturday. “The company has choices in front of it … we have a lot of copper options on the table. And when we feel the time is right, we’ll pull the trigger,” Andrew Forrest said during a visit to Beijing. However, he said the company was not looking at First Quantum’s idled Cobre Panama copper mine. Cobre Panama, one of… Read More Here

International

Zijin Mining Group Expresses Concern Over US-Led Mineral Control Efforts

March 25, 2024March 25, 2024 Constance

Zijin Mining Group, a prominent Chinese mining conglomerate, has voiced apprehension regarding the impact of US-led initiatives aimed at curbing China’s dominance in the mineral sector, potentially hindering the company’s global expansion. During a media briefing, Zijin’s Chairman Chen Jinghe remarked on the growing challenges faced by the Chinese economy and mining industry, attributing them to the perceived containment efforts by developed nations. He expressed a belief that Zijin would inevitably become a target of such measures. With Beijing’s significant influence in critical mineral supply chains crucial for various industries,… Read More Here