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Category: International

Vedanta seeks $1 billion in upsized share placement 1 International 

Vedanta seeks $1 billion in upsized share placement

Constance
Vedanta Ltd., the Indian mining company controlled by billionaire Anil Agarwal, is seeking to raise about $1.02 billion through an upsized share sale to institutional investors. Vedanta is offering about 193.2 million shares, up from 114 million previously, according to terms of the deal obtained by Bloomberg News. Shares of the company are being offered at a floor price of 440 rupees apiece, the terms show. Vedanta is joining a slew of Indian companies tapping stock investors amid surging valuations and increasing demand for equity investments in the country. India… Read More Here
Sandfire Successfully Commissions New Filter Press at Motheo Copper Mine 2 International Copper 

Sandfire Successfully Commissions New Filter Press at Motheo Copper Mine

Constance
Sandfire has successfully commissioned a new permanent filter press at the Motheo Copper Mine in Botswana. During the initial ramp-up of the Motheo process plant in the September Quarter of 2023, the original equipment manufacturer (OEM) filter press installed during construction failed to meet design parameters. In response, an interim solution using mobile filter units was implemented, enabling the safe ramp-up of copper concentrate production at planned rates and specifications. An $8 million capital investment secured the procurement, installation, and commissioning of a Larox filter press to support the long-term… Read More Here
Saudi Arabia to visit Brazil and Chile as seeks to diversify mining 3 International Battery Metals Copper 

Saudi Arabia to visit Brazil and Chile as seeks to diversify mining

Constance
Saudi Arabia’s mining minister will visit Brazil and Chile over the coming two weeks, the ministry said on Sunday, as the world’s leading oil exporter seeks to expand its international presence in mining. In Brazil, talks will cover mining, food processing, and aviation, while in Chile the focus is on lithium, needed for electric vehicle batteries. “This aligns with the Kingdom’s direction towards expanding the production of EVs,” a Saudi government statement said. Saudi Minister of Industry and Mineral Resources Bandar Alkhorayaf will land in Brazil on Monday and leave… Read More Here
AngloGold Ashanti and European Investor Back G2 Goldfields' Capital Raise for Oko Project 4 Gold International 

AngloGold Ashanti and European Investor Back G2 Goldfields’ Capital Raise for Oko Project

Constance
Gold mining major AngloGold Ashanti and a new European investor have supported Canadian junior G2 Goldfields’ latest capital raise for its Oko project in Guyana. The TSX-V-listed exploration company announced a non-brokered private placement of 28.97 million shares at C$1.45 per share, yielding gross proceeds of C$42 million. A single European investor has agreed to purchase 20 million shares, while AngloGold Ashanti will acquire the remaining shares. Upon closing, AngloGold will hold approximately 15% of G2’s common shares, up from its current 12.8%. The offering is expected to close in… Read More Here
Turkey Seeks Access to Niger’s Uranium Deposits Amidst Shifts in Mining Rights 5 International Uranium 

Turkey Seeks Access to Niger’s Uranium Deposits Amidst Shifts in Mining Rights

Constance
On Wednesday, Turkey’s foreign, defense, and energy ministers visited Niger to negotiate access to the country’s substantial uranium reserves. This move comes in the wake of Niger’s recent revocation of mining rights held by Canadian and French companies, following the military coup that took control of the West African nation in July 2023. The Turkish delegation, led by Foreign Minister Hakan Fidan and accompanied by top intelligence official Ibrahim Kalin, aims to tap into Niger’s uranium resources to support Turkey’s expanding nuclear power sector. This interest is particularly relevant as… Read More Here
Panama vows to talk to FQM in coming months on shuttered mine 6 International Copper 

Panama vows to talk to FQM in coming months on shuttered mine

Constance
Panama’s government says it will engage with First Quantum Minerals Ltd. in the coming months to discuss the environmental impact of its shuttered copper mine. Panama’s new president, who took office earlier this month, has said that the mine may need to be temporarily reopened in order to responsibly prepare for a permanent closure. The Central American government is focusing on more pressing priorities for now, but will have discussions with First Quantum in due course, Foreign Affairs Minister Javier Martinez-Acha Vasquez said Wednesday. “From the environmental standpoint, it has… Read More Here
Anglo American Contemplates Further Diamond Production Cuts Amid Market Challenges 7 International Diamond 

Anglo American Contemplates Further Diamond Production Cuts Amid Market Challenges

Constance
Anglo American (LON: AAL) announced last week that it is considering additional cuts to diamond production due to ongoing market challenges, complicating its plans to sell its De Beers unit as part of a significant business overhaul. The restructuring plan was announced in May following the successful rebuttal of a $49 billion takeover approach from BHP (ASX: BHP), the world’s largest miner. The plan includes the sale or divestment of its 85% stake in De Beers, the world’s largest diamond producer by value, to focus on copper, iron ore, and… Read More Here
Higher Q2 Production Puts Barrick On Track to Deliver 2024 Targets 8 International Gold Press Release 

Higher Q2 Production Puts Barrick On Track to Deliver 2024 Targets

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) has reported preliminary Q2 production of 948 thousand ounces of gold and 43 thousand tonnes of copper, as well as preliminary Q2 sales of 956 thousand ounces of gold and 42 thousand tonnes of copper. As previously guided, Barrick’s gold and copper production in 2024 is expected to progressively increase each quarter through the year with a higher weighting in the second half. The Company remains on track to achieve our full year gold and copper guidance. The average market price for… Read More Here
Barrick Offers to Engage with Ekō 9 International Gold 

Barrick Offers to Engage with Ekō

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) has extended an invitation to representatives of Ekō to engage in discussions and visit specific mine sites referenced in their recent allegations concerning Barrick’s portfolio. The Company aims to facilitate a direct dialogue with Ekō to comprehensively understand the basis of their concerns. Barrick intends for these site visits to provide Ekō with firsthand access to factual data and ground realities. Through this initiative, Barrick seeks to correct what it perceives as misinformed and inaccurate statements about its operations. During the visits,… Read More Here
Lobito Atlantic Railway receives its first vessel at the Port of Lobito mineral terminal 10 International Transport and Logistics 

Lobito Atlantic Railway receives its first vessel at the Port of Lobito mineral terminal

arnbethnic
Lobito, Angola, 15 July 2024 – The first vessel has docked at the mineral terminal of the Port of Lobito, operated by the Lobito Atlantic Railway (LAR) consortium, the concession holder for the operation, management and maintenance of the railway linking Angola to the Democratic Republic of Congo. The MV Lindsaylou, a bulk cargo vessel loaded with 40,500 tonnes of sulphur, docked on Friday 12 July, marking the beginning of port operations for LAR. The vessel was loaded in Qatar and arrived in Lobito after a journey of around a… Read More Here

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