International - Copperbelt Katanga Mining

Gemfields Earns $2.3 Million from Auction of Sapphires, Corundum, and Rubies 1

Johannesburg- and London-listed gemstone miner Gemfields generated $2.3 million in revenue from an auction held from September 2 to 4. The auction featured primarily commercial-quality sapphires, corundum, and rubies. All 5.7 million carats offered across ten lots were sold, achieving an average price of $0.41 per carat. The gemstones were sourced from Montepuez Ruby Mining (MRM) in Mozambique. Most of the auction’s offering comprised corundum and sapphires, which are by-products of MRM’s mining operations. Despite the commercial nature of these goods, the auction saw strong attendance and high demand. “The… Read More Here

Copper International

FQM expects feasibility studies for Peru mine by 2028

September 15, 2024September 15, 2024 Constance

Canadian miner First Quantum Minerals expects updated drilling results for its Peru copper project La Granja in the second half of next year, and feasibility studies by 2028, project development manager Steven Lewis said on Thursday. “The drilling is progressing well, it’s at 35%, and we expect to have the results in the second half of next year,” Lewis said on the sidelines of a mining industry conference. About the feasibility studies slated for completion by 2028, he said: “We’re working to meet this deadline.” First Quantum last year purchased… Read More Here

International Gold

B2Gold and Mali Govt Reach Agreement on Fekola Mine Operations

September 15, 2024September 15, 2024 Constance

B2Gold (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) has finalized an agreement with the government of Mali to address all issues related to the Fekola mine complex amidst the implementation of a new mining code. The Malian government, now under a new administration, holds a 20% interest in the Fekola mine. In a press release dated September 11, B2Gold confirmed that the Fekola mine complex, which includes the Fekola and Cardinal open pits and the proposed underground project, will continue to operate under the 2012 mining code. This agreement ensures… Read More Here

International Lithium

Ghana’s Lithium Project Faces Delays Amid Falling Global Prices

September 15, 2024September 15, 2024 Constance

Ghana is concerned that a slump in global lithium prices could jeopardize its first lithium mining project in Ewoyaa, according to the head of the country’s mining sector regulator. In October 2023, Ghana, a West African nation known for its gold and cocoa production, granted a 15-year lease to Australian mining company Atlantic Lithium to establish its first lithium mine by the fourth quarter of 2024. However, recent developments have raised concerns about the project’s future. The company received environmental approval for the project last Thursday, but delays in parliamentary… Read More Here

Copper International

BHP takes next step in smelter, refinery expansion at Copper South Australia

September 8, 2024September 8, 2024 Constance

The South Australian Government has announced the commencement of an application and assessment process for BHP’s planned smelter and refinery expansion at Olympic Dam via a notification in the South Australian Government Gazette. The notification is a step forward for BHP’s copper growth plans in South Australia and follows an update in the company’s financial year 2024 full-year results last week, which outlined a phased strategy to increase production in South Australia to 500,000 t/y of refined copper cathode by the early 2030s and then potentially up to 650,000 t/y… Read More Here

International Mining Equipment

Epiroc launches breakthrough ET drill strings for more tophammer uptime

September 8, 2024September 8, 2024 Constance

The release of the new Epiroc ET66, ET45 and ET38 drill strings the company says marks a substantial breakthrough in tophammer drilling efficiency and reliability. Developed over five years, the new Epiroc ET drill string components “have undergone meticulous modelling, lab testing, and field trials. Multiple concepts were subjected to computer simulations and laboratory assessments before the most powerful concepts were chosen for field tests in Sweden and Canada.” The result is the Epiroc ET66, ET45 and ET38 drill strings, representing it says the company’s most significant breakthrough in drill… Read More Here

International Copper

FQM to invest $3.5 billion in Taca Taca copper project in Argentina

September 8, 2024September 8, 2024 Constance

First Quantum Minerals has met with Argentina’s government authorities about the start of construction of the $3.5 billion Taca Taca copper project, Rumbo Minero International reported. According to the news outlet, representatives of the Canadian miner met with Argentine officials and announced that they will begin construction of the project, located 230 km west of the city of Salta. The announcement was made during Argentina Mining 2024, an international mining sector event held in the province of Salta. Taca Taca is a copper-gold-molybdenum porphyry deposit with significant potential and is… Read More Here

Copper International

African Rainbow Minerals pivots to chrome and copper after platinum price slump

September 8, 2024September 8, 2024 Constance

African Rainbow Minerals (ARM) is pursuing chrome and copper opportunities after weaker platinum group metal (PGM) and coal prices drove its annual profit 43% lower, the diversified miner said on Friday. ARM’s headline earnings slumped to 5.08 billion rand ($286.89 million) in the year ended June 30, from a restated 8.98 billion the previous year, mainly due to lower PGM and coal prices. The company’s board has approved the construction of a chrome recovery plant at its Bokoni platinum mine, where the platinum ramp up will be “phased and measured”… Read More Here

Copper International Mining Personality

Glencore’s Peru boss Soyer to step down after Volcan sale

September 8, 2024September 8, 2024 Constance

Glencore’s head of Peruvian operations is stepping down from her position, according to two sources with knowledge of the matter. Victoria Soyer Toche, the general manager at Glencore Peru SAC, has resigned, the sources said. Veteran copper concentrates trader Alvaro Ilamas also recently left Glencore’s Lima office, according to same sources. Glencore declined to comment on personal moves. Her departure came after Glencore sold its stake in zinc-lead producer Volcan Compania Minera to Argentine group Integra Capital in May. The commodity giant owns stakes in major Peruvian copper mines such… Read More Here

International

Vedanta Approves $932M Dividend Amid Efforts to Strengthen Financial Position

September 4, 2024September 4, 2024 Constance

Indian tycoon Anil Agarwal’s Vedanta has approved a third tranche of dividend payouts, continuing its efforts to enhance the financial stability of its debt-laden London-based parent company. The Mumbai-based miner announced a dividend of 78.21 billion rupees ($932 million), bringing its total payout for the fiscal year ending in March to 134.75 billion rupees. Vedanta Resources, weighed down by significant debt from a series of acquisitions, has reduced its obligations by $4.5 billion over the past two years. The company aims to repay an additional $3 billion over the next… Read More Here