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Category: International

Barrick and Mali Reach Agreement to Settle Disputes 1 International Gold 

Barrick and Mali Reach Agreement to Settle Disputes

Constance
 Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and the government of Mali have agreed to find a global resolution to the existing claims and disputes between the government and Barrick’s Loulo and Gounkoto gold mining companies. Details of the agreement, based in essence on Barrick’s original proposals, will be made public once the terms of the settlement have been finalized. Barrick president and chief executive Mark Bristow said the company’s mutually beneficial relationship with Malian governments had endured for 30 years and occasional differences with successive regimes had always been amicably resolved. “The… Read More Here
Fortescue and Liebherr Secure Orders for 100 Battery-Powered Mining Trucks 2 International Equipment & Technology 

Fortescue and Liebherr Secure Orders for 100 Battery-Powered Mining Trucks

Constance
Australian miner Fortescue Metals Group and German-Swiss manufacturer Liebherr have secured orders for 100 autonomous battery-powered mining trucks, as part of their initiative to reduce carbon emissions. Fortescue’s executive chairman, Andrew Forrest, revealed the trucks were developed to support the company’s goal of achieving net-zero emissions by 2030. Fortescue and Liebherr teamed up in 2022 to create electric versions of the T 264 truck, with expressions of interest for hundreds more vehicles already received. The 240-tonne trucks, although more expensive than diesel models, offer greater reliability and productivity. The two… Read More Here
Trafigura Appoints Richard Holtum as New CEO, Effective January 2025 3 Press Release International Mining Personality 

Trafigura Appoints Richard Holtum as New CEO, Effective January 2025

Constance
Trafigura Group Pte Ltd (“Trafigura”) has announced that Richard Holtum will become Chief Executive Officer (CEO) of Trafigura, effective 1 January 2025 and will join the Trafigura Board of Directors from 1 October 2024. Jeremy Weir, Executive Chairman and CEO, will step down from his executive responsibilities on 1 January 2025 and will become Chairman of the Trafigura Group. Sipko Schat, Independent Non-Executive Director of the Board, said: “The Board of Directors unanimously selected Richard Holtum to lead the Trafigura Group. Richard has achieved extensive success in developing high-performing teams and… Read More Here
Panama eyes export of First Quantum’s stockpiled copper 4 International Copper 

Panama eyes export of First Quantum’s stockpiled copper

Constance
Panama’s finance chief sees no good reason why First Quantum Minerals Ltd. shouldn’t export the large volume of copper stockpiled at its shuttered mine in the country. The government is working with a third party on an environmental assessment to quantify the amount of copper concentrate stored at the mine and determine when it was extracted, Finance Minister Felipe Chapman said Friday. “The copper cannot lie sitting there forever. It has to be taken out, and if you are going to take it out, you might as well export it,”… Read More Here
Rio Tinto chairman warns mining deals won’t solve supply crisis 5 International Battery Metals Copper 

Rio Tinto chairman warns mining deals won’t solve supply crisis

Constance
The world needs more mines to cope with rising demand for key energy-transition metals like copper, as mergers and acquisitions will not plug a looming supply gap, Rio Tinto group chairman Dominic Barton said. “As an industry, we’re not going to inorganic our way out of this challenge,” Barton said in a Bloomberg TV interview, referring to growth through deals. “It’s huge, and it’s in at least five different commodity areas.” Global mining M&A has ramped up over recent months, as healthy cash flows and the outlook for key green… Read More Here
Epiroc’s new Minetruck MT66 S eDrive with electric drivetrain combines power and innovation 6 International Equipment & Technology Press Release 

Epiroc’s new Minetruck MT66 S eDrive with electric drivetrain combines power and innovation

Constance
The new Minetruck MT66 S eDrive is the first of Epiroc’s large-capacity mine trucks to feature the latest generation electric drivetrain. Along with an upgraded and powerful diesel-engine, the hauler combines the cost-effectiveness of a traditional mine truck with the productivity of an electric one – without requiring change to a mine’s infrastructure. The Minetruck MT66 S eDrive has been completely redesigned to feature an electric drivetrain, powered by the strongest engine yet in Epiroc’s line-up of underground mine trucks. With several other upgrades, such as weight reduction and better… Read More Here
Zijin vows to keep investing in Canadian mining despite crackdown 7 International 

Zijin vows to keep investing in Canadian mining despite crackdown

Constance
Zijin Mining Group Co., China’s most valuable mining company, says it won’t be deterred by the Canadian government’s measures to limit foreign involvement in its mining sector. The Chinese gold and copper producer will “absolutely” continue to seek out investments in Canadian mining companies — especially junior exploration firms, Zijin vice president Shaoyang Shen said in a Tuesday interview at Denver Gold Group’s annual conference in Colorado. “Canada has some of the best mineral exploration companies in the world,” he said. “As world leaders, I believe it’s in our best… Read More Here
Trigon Metals to Pause Open-Pit Operations at Kombat Mine as Underground Production Surges 8 International 

Trigon Metals to Pause Open-Pit Operations at Kombat Mine as Underground Production Surges

Constance
Trigon Metals has achieved an average of 980 tons of ore mined daily from its underground operations over the past 30 days, marking a significant milestone in the company’s growth. This accomplishment follows the October 2022 streaming agreement with Sprott Private Resource Streaming and Royalty (B) Corp. and Sprott Mining Inc. As part of its operational strategy, Trigon Metals announced that it will pause open-pit mining at Kombat Mine by the end of September 2024. This decision comes after the successful recommissioning of the underground mine, with commercial production officially… Read More Here
Theta Gold Mines Shifts Funding Strategy for South African Gold Project 9 International Gold 

Theta Gold Mines Shifts Funding Strategy for South African Gold Project

Constance
Junior miner Theta Gold Mines has revised the funding strategy for its South African gold project, according to chairperson Bill Guy. The ASX-listed company will fully redeem its A$6-million secured bonds with 2Invest, freeing up its project interests to serve as collateral for future potential project funders. Theta plans to use funds from an $8-million private placement to facilitate the bond redemption. The company has already received $6 million from the first tranche of a $10-million, two-tranche placement with Hong Kong Ruihua Investment (HRIM), alongside a firm commitment for an… Read More Here
FQM Offers Voluntary Retirement Amid Uncertainty at Cobre Panama Mine 10 Copper International 

FQM Offers Voluntary Retirement Amid Uncertainty at Cobre Panama Mine

Constance
TORONTO – Canadian miner First Quantum Minerals has introduced a voluntary retirement scheme for workers at its Cobre Panama mine, as it awaits a government decision on the future of the operation, two sources familiar with the matter revealed. The Cobre Panama mine, one of the world’s leading copper sources, was shut down in November after Panama’s Supreme Court declared its contract unconstitutional. The closure was also fueled by environmental protests against the mine. Panama’s new government, led by President Jose Raul Mulino, has indicated that the mine will not… Read More Here

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