International - Copperbelt Katanga Mining

Saudi Arabia’s PIF Leads Bidding for $2.5 Billion Vale Base Metals Stake

June 25, 2023June 25, 2023 Constance

Saudi Arabia’s Public Investment Fund is emerging as the leading bidder to acquire a stake in Vale SA’s multibillion-dollar nickel and copper operations, people with knowledge of the matter said. PIF is in advanced discussions with the Brazilian miner about a deal for a roughly 10% holding in its base metals unit, according to the people, who asked not to be identified discussing confidential information. The stake could be valued at around $2.5 billion, they said. The wealth fund is poised to beat out rival bidders including Japanese trading house Mitsui & Co. and the Qatar… Read More Here

Gold Artisanal mining International

Gold Remains the Shining Star in the Precious Metals Market

June 23, 2023June 23, 2023 Constance

The global precious metals market is experiencing remarkable growth, poised to surpass $400 billion by 2028, according to a report by Fortune Business Insights™. The report highlights the significant role played by gold in driving this market expansion. As the market continues to thrive, it becomes crucial to consider the repercussions for the Artisanal and Small-Scale Gold Mining (ASGM) sector, particularly in Africa and other frontier mining jurisdictions. Unleashing the Potential of Gold: Gold stands as a beacon of stability and security amidst the volatile investment landscape. Its low-risk nature… Read More Here

International Copper Partnership

Anglo American and Jiangxi Copper collaborate on responsible copper

June 23, 2023June 23, 2023 Constance

The agreement was signed during a visit to Jiangxi Copper’s headquarters in Nanchang, China, and is part of Anglo American’s work with customers to create sustainable value chains beyond its own mining operations, recognising consumers’ increasing expectations for sustainably sourced and supplied raw materials. Peter Whitcutt, CEO of Anglo American’s Marketing business, said: “We are developing a series of partnerships to shape a more sustainable and customer-centric value chain – one that meets consumer-driven demand for copper with demonstrably strong provenance credentials. That value chain begins with our portfolio of… Read More Here

International Lithium

Drilling campaign recommenced at Omaruru Lithium Project

June 23, 2023June 23, 2023 Constance

Prospect Resources Limited (Prospect or the company) is pleased to advise that Reverse Circulation (RC) drilling at its Omaruru Lithium Project (Omaruru) (Prospect 20% interest, with initial earn-in to 40% in progress) in Namibia has recommenced. This program is focused on follow-up extensional drilling at the Brockmans prospect where thick, near-surface, shallow-dipping, higher-grade lithium mineralization was returned from just over 2,000m of RC drilling earlier this year (refer Prospect ASX release dated 28 March 2023).It will also encompass targeted depth extension drilling at the Karlsbrunn prospect. Finally, the program is… Read More Here

Diamond International

Diamond auctions down 32% year-on-year

June 23, 2023June 23, 2023 Constance

Diamond auctions record a provisional figure of US$450 million for round 5 of its diamond auctions in 2023. This was announced yesterday June 22 by diamond producer De Beers. . A drop of about 32% year-on-year and 6% compared to the previous cycle, the second underperformance of the year after the decrease in revenue recorded during cycle 4. If the situation persists, it could significantly reduce the mining revenues of several African countries, including Botswana, where diamond mining occupies a central place in the economy. The other African countries concerned… Read More Here

International Battery Metals

Critical Materials Price Index Reaches 12-Month Low

June 22, 2023June 22, 2023 Constance

The critical materials price index, monitored by Project Blue, reached its lowest point in the past year in May. However, the energy transition market intelligence firm now suggests that this decline marked the low point in the cycle for the basket of 30 metals and minerals. The index had reached its peak in March of the previous year, benefitting from a post-COVID economic recovery. However, it experienced a swift decline due to a weakening global macroeconomic situation, surging energy costs, and a less-than-inspiring recovery in China, which accounts for the… Read More Here

Gold International

Pan African’s Missed Gold Bonanza: Can They Catch Up?

June 22, 2023June 22, 2023 Constance

What Eskom taketh away, the rand giveth back. That’s one way of looking at prospects for Pan African Resources, a midtier gold producer that seems to have completely missed the rand gold price bonanza being lapped up by other South African-focused gold miners. Pan African’s share price has fallen 19% in 12 months whereas shares in Harmony Gold are 67% higher. DRDGold, the company with which Pan African is most often compared, is 115% higher. Over five years, the difference is even starker: Pan African has returned a respectable 120%, including… Read More Here

International

Glencore’s bid for Teck’s coal business raises uncertainties

June 22, 2023June 22, 2023 Constance

Glencore confirmed it had submitted a bid for the coking coal business of Teck Resources while saying it had not abandoned an earlier proposal to merge with the Canadian firm’s metals business. The Swiss-headquartered business said last week that were its new offer successful it would demerge ‘CoalCo’ within 12 to 24 months. It would then reduce its net debt cap to $5bn from the current $10bn raising the possibility of improving capital returns in the long run. Teck, meanwhile, said it had received other offers for its coal business. Its… Read More Here

Battery Metals Copper International Nickel

Bill Gates-backed KoBold Metals is the Silicon Valley’s newest unicorn

June 22, 2023June 22, 2023 Constance

Berkeley-based mining company KoBold Metals has hit the $1 billion unicorn valuation, the Wall Street Journal reported. Its most recent $200 million round included money from Breakthrough Energy Ventures, a Bill Gates-backed venture capital firm that invests in clean energy companies on behalf of people including Jeff Bezos and Jack Ma. Founded in 2018, KoBold uses machine learning to look for deposits of critical minerals like copper, nickel, lithium and cobalt. “Our proprietary A.I. tools build on a concept we call efficacy of information (EOI), enabl KoBold to determine which data to… Read More Here

International Copper Equipment & Technology Mining technology

Rio Tinto invests in electric underground mine at Kennecott

June 22, 2023June 22, 2023 Constance

Rio Tinto is investing in its Kennecott operation near Salt Lake City, Utah, to strengthen its supply of copper in the US by increasing production from underground mining and improving the health of key assets. $498 million of funding has been approved to deliver underground development and infrastructure for an area known as the North Rim Skarn (NRS). Production from the NRS will commence in 2024 and is expected to ramp up over two years, to deliver around 250,000 t of additional mined copper over the next 10 years alongside… Read More Here