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Category: International

Zijin Mining Acquires Strategic Stake in Montage Gold 1 International Gold 

Zijin Mining Acquires Strategic Stake in Montage Gold

Constance
Montage Gold announced on Tuesday that Zijin Mining Group, a Chinese mining firm, will acquire a 9.9% strategic stake in the company through a brokered private placement. Zijin Mining will purchase 32.7 million shares of the Vancouver-based company at C$1.75 per share, totaling nearly C$57.3 million. The offering is expected to be completed by August 12. This deal comes amid Canada’s efforts to tighten its Investment Canada Act, which reviews foreign investments to safeguard national security. However, Montage believes the investment does not require Canadian government approval because Zijin will… Read More Here
Zimbabwe State Miner Seeks $150M to Boost Gold Output 2 Gold International 

Zimbabwe State Miner Seeks $150M to Boost Gold Output

Constance
Zimbabwe’s largest gold producer, Kuvimba Mining House, is negotiating with potential partners for a $150 million investment to increase production at its Shamva mine by 50%. Kuvimba Mining House, which is 65% state-owned, has already completed a feasibility study for a large-scale mine and processing plant, according to acting Chief Executive Officer Trevor Barnard. “We are discussing that with potential partners to go forward,” Barnard said during a press briefing in Harare on Monday. “This is a resource which is really significant, it’s large, it’s high quality.” Zimbabwe acquired Shamva… Read More Here
Tragic Mine Collapse in Northern Kenya Claims Multiple Lives 3 International Gold Mine Safety 

Tragic Mine Collapse in Northern Kenya Claims Multiple Lives

Constance
At least five people were killed and several others injured when an informal gold mine caved in and buried them alive in northern Kenya, according to a local official. The Hillo subsistence gold mine near the Ethiopian border was closed by authorities in March due to deadly clashes between local communities over access to the site. Despite the closure, miners have continued their activities at the location. On Monday evening, around 1,000 people overpowered security forces and invaded the area, said Marsabit County Deputy Commissioner David Saruni. “They dug an… Read More Here
CMR Secures High-Grade Silver/Copper Project in Morocco and Raises £750,000 for Exploration 4 International Copper Exploration 

CMR Secures High-Grade Silver/Copper Project in Morocco and Raises £750,000 for Exploration

Constance
Critical Mineral Resources (CMR) has signed an exclusive option to acquire the Igli project, a high-grade silver/copper site in Morocco’s Anti-Atlas region, with reported grades up to 912 g/t silver and 2.97% copper. To support this acquisition and fund exploration, CMR has raised £750,000 through a convertible loan note (CLN) issue. A significant portion of this investment comes from the Swiss and UAE-based Prism Group, known for its long-term investment strategy. CMR’s nonexecutive chairperson, Dominic Traynor, will transition to executive chairperson to oversee the company’s strategic developments. The Igli project… Read More Here
Paladin Energy Celebrates First Uranium Shipment from Langer Heinrich Mine in Namibia 5 International Uranium 

Paladin Energy Celebrates First Uranium Shipment from Langer Heinrich Mine in Namibia

Constance
Paladin Energy announced on July 22 that it has successfully completed its first shipment of uranium since the restart of its Langer Heinrich mine in Namibia. A cargo of 319,229 pounds of uranium departed from the port of Walvis Bay on July 12, destined for customers. The Langer Heinrich mine resumed commercial production on March 30, 2024, following a maintenance and servicing period that began in May 2018 due to low global uranium prices. The company is on track to meet its fiscal year 2025 targets, with the mine having… Read More Here
IEA Forecasts 35% Increase in Global Electricity Supply by 2025 6 International Electricity 

IEA Forecasts 35% Increase in Global Electricity Supply by 2025

Constance
The International Energy Agency (IEA) projects a 35% increase in global electricity supply by 2025, up from 30% in 2023, according to its latest report published this month. The report indicates a gradual decrease in dependence on coal, which is expected to decline from 36% to 33% during the same period. Titled “Electricity Mid-Year Update,” the report highlights the significant role of solar photovoltaic (PV) and wind power in this energy transformation. Their combined share in the global electricity mix is anticipated to rise from 13% in 2023 to 15%… Read More Here
Uganda’s Gold Trade Strengthens Import Ties with Tanzania 7 Gold International Mining in Uganda 

Uganda’s Gold Trade Strengthens Import Ties with Tanzania

Constance
Tanzania has emerged as Uganda’s primary import partner within the East African Community (EAC), driven by Uganda’s significant gold trade worth close to $3 billion. Uganda imports unrefined gold, refines it, and then sells the refined product to markets in the EAC, Asia, the EU, and beyond. According to Uganda’s Ministry of Finance, Uganda now imports more goods from Tanzania than from any other East African nation. The Ministry’s Performance of the Economy report for June revealed that, in the 12 months leading up to May, 83% of all products… Read More Here
Botswana Proposes New Law Requiring Local Stake in Mining Operations 8 International Diamond 

Botswana Proposes New Law Requiring Local Stake in Mining Operations

Constance
Botswana is proposing a new law that mandates mining companies to sell a 24% stake in their operations to local citizens or citizen-owned companies once a license is granted, should the government choose not to exercise its option to acquire the shareholding. Botswana, renowned for its rich natural resources, particularly diamonds, saw its diamond production valued at $3.28 billion in 2023, making it the leading diamond producer in Africa and the second globally, only behind Russia, which had a production value of $3.60 billion. The proposed amendment to the existing… Read More Here
Anglo American Lowers Coal Production Guidance Following Grosvenor Mine Fire 9 International Coal 

Anglo American Lowers Coal Production Guidance Following Grosvenor Mine Fire

Constance
Diversified major Anglo American has revised its coal production guidance for the year due to the impact of a recent fire at the Grosvenor underground mine in Australia. As a result of the incident, Anglo has lowered its steelmaking coal production forecast to between 14 million and 15.5 million tonnes, down from the previous guidance of 15 million to 17 million tonnes. The fire, which occurred at the end of June, led to a suspension of production at Grosvenor. According to a statement released by Anglo on Thursday, efforts are… Read More Here
Panamanian President Delays Addressing FQM Copper Mine Issues Until 2025 10 International Copper 

Panamanian President Delays Addressing FQM Copper Mine Issues Until 2025

Constance
Panamanian President Jose Raul Mulino announced on Thursday that the government will not address issues surrounding the shuttered First Quantum copper mine until early 2025. The Cobre Panama mine, one of the world’s largest copper sources, was closed in November after Panama’s Supreme Court declared its contract unconstitutional. First Quantum had been granted a 20-year mining right with an option to extend for another 20 years, in exchange for $375 million in annual revenue to Panama. Critics argued the contract was too favorable to the company, and environmental protests against… Read More Here

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