International - Copperbelt Katanga Mining

Eurasian Resources Group enters the Kingdom of Saudi Arabia, plans long-term investment

January 25, 2023January 25, 2023 Johannsen

Foundation for tech-enabled early-stage exploration, collaborative initiatives and local talent acquisition already in place. RIYADH (25 January 2023) – Following the World Economic Forum (WEF) held in Davos last week and the agreements achieved at the Future Minerals Forum in Saudi Arabia, Eurasian Resources Group (“ERG” or “The Group”) discloses its intention to invest in the Kingdom for the long term. A leading diversified natural resources group headquartered in Luxembourg, ERG plans to invest $50 million in the market, with the potential to grow this figure year-on-year. ERG’s market entry… Read More Here

Power Outage Plagues Nacala-a-Velha And Memba Districts in Mozambique

January 25, 2023January 25, 2023 Constance

Due to bad weather, the districts of Nacala-à-Velha and Memba in Nampula province have been without electricity from the national grid since Tuesday, January 24th, 2023. Electricidade de Moçambique (EDM) announced in a press release that the supply of electricity was interrupted for 31,276 customers in these districts due to the collapse of 11 medium voltage poles. EDM teams said they are working to restore power to the affected areas as soon as possible. Read More Here

Coal International

Buffalo Coal Dundee Secures USD$30,000,000 from SARB

January 25, 2023January 25, 2023 Constance

Buffalo Coal Corp. has announced that its wholly owned subsidiary, Buffalo Coal Dundee has entered into and received approval from the South African Reserve Bank (SARB) regarding a secured credit facility agreement dated November 7, 2022 and addendum to the facility agreement dated December 29, 2022 with Ikwezi Mining FZE, an affiliate of the company’s majority shareholder, Belvedere Resources. Pursuant to the Credit Agreement, the Lender will make a credit facility available to BCD in the aggregate principal amount of USD$30,000,000, which amount may be drawn in up to ten… Read More Here

Oil & Gas International

Uganda Set To Join The List Of Major Oil Producing African Countries

January 25, 2023January 25, 2023 Constance

Uganda is set to commission its first commercial oil production drilling program. The East African country has been keen on fast tracking its oil programs since last year, and has signed a couple of deals to this effect. Last year, Uganda and its collaborators, Total Energies and Tanzania got into an altercation with the European Union on a pipeline project, which the EU declared environmentally harmful. Despite this, the country insisted on going ahead with its oil exploration. As recently as this month, the country signed production-sharing agreements (PSA) for… Read More Here

Battery Metals International

First Demonstration of EV Pilot Battery Passports Successful

January 24, 2023January 24, 2023 Constance

Eurasian Resources Group (ERG) and its partners in ReSource, a digital platform for the traceability of minerals powered by blockchain technology ensuring provenance and traceability of minerals from the mine to the EV battery, are proud to announce a successful demonstration of two of the first EV battery passports pilots. The pilots were developed and issued in collaboration with Albemarle, CMOC, ERG, Glencore, Kryha, LG Energy Solution, RCS Global, Tesla, Umicore, and the Global Battery Alliance (GBA), the world’s largest multi-stakeholder organisation to establish a sustainable battery value chain by… Read More Here

Battery Metals International

TANTALEX LITHIUM CLOSES ON 3M USD WORKING CAPITAL FACILITY

January 24, 2023January 24, 2023 Constance

Tantalex Lithium Resources Corp. has announced that it has closed a working capital finance facility of $3 million for its TiTan tin and tantalum concentrate plant, which is scheduled to begin production at the end of March 2023. The funds will be made available for drawdown as of February 8th, 2023. The Facility shall be repaid in installments of $125,000 per month plus the interest payable at a rate of 10% per annum. Construction works have now resumed, and transportation of the plant modules from Manono to the plant location… Read More Here

Gold International

Porgera Mine Restart Remains On Hold

January 24, 2023January 24, 2023 Constance

Barrick Gold Corporation Chief Executive Officer Mark Bristow has urged all PNG parties involved in the Porgera Mine Mine reopening negotiations to complete the process by the end of the first quarter. Barrick CEO Mark Bristow recently visited Papua New Guinea as part of his regular visits to the company’s mines. During his trip, he met with government officials and community leaders in Port Moresby and Porgera. He also expressed his disappointment with the ongoing delay in reopening the Porgera mine, which has been closed for nearly three years, and… Read More Here

Coal International

Buffalo Coal Dundee Secures USD$30,000,000 From SARB

January 23, 2023January 23, 2023 Constance

Gold International

Barrick Reports Stronger Q4 Gold Production

January 23, 2023January 23, 2023 Constance

Barrick Gold Corporation has reported preliminary full year and fourth quarter 2022 production results. On the back of stronger Q4 production, 13% higher than the previous quarter, preliminary gold production for the full year of 4.14 Moz was approximately 1% lower than the 4.2 Moz previously guided, while preliminary copper production of 440 million pounds for 2022 was in line with the guidance range of 420 to 470 million pounds. The preliminary Q4 results show sales of 1.11 Moz of gold and 99 million pounds of copper, as well as… Read More Here

Battery Metals Exploration International

Quantum Battery Metals further Gears Up for Copper Demand

January 23, 2023January 23, 2023 Constance

Quantum Battery Metals Corp., a battery metals mining company, has announced plans to review property acquisition for battery metal projects and expand its focus towards copper opportunities. A projected chronic gap between worldwide copper supply and demand, beginning in the middle of this decade, is expected to have severe consequences on the global economy and impact the timing of achieving Net-Zero Emissions by 2050. Copper is crucial for all energy transition plans, but the potential supply-demand gap is anticipated to be significant as the transition progresses. Quantum is actively engaging… Read More Here