International - Copperbelt Katanga Mining

Newmont Sells Akyem Mine in Ghana to Zijin Mining for Up to $1 Billion 1

US-based gold giant Newmont has reached an agreement to sell its Akyem mine in Ghana to Chinese mining firm Zijin Mining for up to $1 billion in cash. This sale is part of Newmont’s ongoing strategy to divest non-core assets following its acquisition of Newcrest Mining in 2023. Last month, the Denver-based company also agreed to sell two Australian assets for up to $475 million. Additional assets on the market include the Éléonore, Musselwhite, and Porcupine mines, along with the Coffee project in Canada, as well as the CC&V mine… Read More Here

Mali Seeks $512 Million in Tax Claims from Barrick Gold Amid Mining Revenue Drive

October 19, 2024October 19, 2024 Constance

Mali’s military government is demanding at least 300 billion CFA ($512 million) in outstanding taxes and dividends from Barrick Gold, as part of a broader initiative to increase revenue from mining companies. Last month, authorities briefly detained four Malian staff members employed by Barrick, the world’s second-largest gold miner. The Canadian company announced on September 30 that it had agreed to collaborate with the government to address existing claims and disputes. These demands follow an audit of mining contracts conducted last year and the government’s push to renegotiate agreements with… Read More Here

International Corporate News

Former Glencore Executives Await 2027 Trial for Bribery Charges

October 19, 2024October 19, 2024 Constance

A group of former Glencore executives accused of bribery and corruption in West Africa by UK authorities will have to wait until 2027 to stand trial. England’s criminal courts are currently facing a severe backlog of cases, worsened by years of underfunding, the COVID-19 pandemic, and lawyer strikes. On Wednesday, a judge at London’s Southwark Crown Court set a trial date for June 1, 2027, for the Serious Fraud Office’s case, which is anticipated to last up to six months. The accused include Alex Beard, the former head of oil… Read More Here

International Copper

Peru’s August copper output jumps 11% after five-month decline

October 19, 2024October 19, 2024 Constance

Peru’s copper production rose by 10.7% in August compared to a year earlier, reaching the highest level of any month this year, the Andean nation’s energy and mines ministry said on Wednesday, though accumulated output remained below 2023 levels. The monthly increase follows five months of consecutively lower year-on-year output. August’s production landed at 246,568 metric tons, bringing the accumulated output from January through August to 1.76 million metric tons, 0.7% less than in the same period in 2023, the ministry said. Peru, the world’s third largest copper producer, produced… Read More Here

Gold International

Barrick Gold Reports Lower Q3 Production Amid Challenges at Nevada Mines

October 19, 2024October 19, 2024 Constance

Barrick Gold reported lower-than-expected gold production in the third quarter, attributed to a decline in output at its Carlin and Cortez mines in Nevada, the Canadian miner announced on Wednesday. The Carlin and Cortez mines are part of Nevada Gold Mines, a joint venture between Barrick and U.S.-based Newmont. Total gold output at Nevada Gold Mines decreased to 385,000 ounces in the July-September quarter, down from 401,000 ounces in the previous three months. Despite the decline, Barrick, the world’s second-largest gold producer, anticipates a “materially stronger fourth quarter.” The completion… Read More Here

International Copper Drilling

Trigon Metals Hits High-Grade Copper-Silver at Namibia’s Kombat Mine

October 10, 2024October 10, 2024 Constance

Trigon Metals (TSXV: TM) has reported significant new high-grade copper and silver mineralization from its ongoing drilling at the Kombat copper-silver mine in north-central Namibia. The drilling program, targeting resource upgrades near past producing areas, has yielded promising results, boosting the company’s stock. Notable drill results include: These drill holes are part of a 3,500-metre resource upgrade program, conducted at a depth of 105 metres on level 3 of Shaft 1. The drilling targeted areas to the northeast and southwest of previous intercepts, confirming the presence of high-grade mineralization adjacent… Read More Here

International Mergers & Acquisitions Uranium

Askari Metals Completes Full Acquisition of Eyasi Uranium Project in Tanzania

October 9, 2024October 9, 2024 Constance

Askari Metals has announced the full acquisition of the Eyasi Uranium Project in northern Tanzania through its subsidiary, Infinum Uranium. The project was identified as a highly prospective target for surface uranium deposits following an extensive review of geological and geophysical data. The Eyasi Uranium Project spans 292 km² and is located approximately 320 km northwest of Dodoma. The project’s geology is dominated by the Precambrian Eastern Granulite Complex and is associated with the East African Rift system. The region’s geological features suggest the presence of uraniferous fluvial channel systems,… Read More Here

International Mining Equipment Press Release

Caterpillar and IMA Engineering forge innovative collaboration for next-gen mining efficiency

October 8, 2024October 8, 2024 Constance

IRVING, Texas, October 7, 2024 – Caterpillar Inc. (NYSE: CAT), a global leader in construction and mining equipment, is excited to announce a new alliance with IMA Engineering to enhance Caterpillar’s innovative Cat® Precision Mining initiative. This collaboration aims to use cutting-edge technology to provide real-time, detailed information about ore, the raw material extracted in mining, enabling sites to improve the efficiency and accuracy of mining operations. CatPrecision Mining is Caterpillar’s advanced vision to improve every step of the mining process, from extraction to processing. By incorporating real-time data and… Read More Here

International Artisanal mining Gold

Ghanaians Protest Against Illegal Mining, Call for Government Action

October 8, 2024October 8, 2024 Constance

Hundreds of Ghanaians took to the streets for a second consecutive day, urging the government to crack down on illegal mining in the country, which is Africa’s top gold producer. Protesters carried placards demanding action to stop illegal mining, which they blame for polluting rivers and degrading soil across Ghana. A final day of demonstrations is planned for Saturday, according to a Bloomberg report. “This is not just a crisis; it’s a fight for the soul of our nation,” said Brownson Adatsi, lead convener of the Free The Citizens Movement,… Read More Here

International Mining Equipment

BHP to test Caterpillar’s new energy transfer system on its mining trucks

October 7, 2024October 7, 2024 Constance

BHP Group said it plans to test US-based equipment manufacturer Caterpillar’s new technology, which transfers energy to diesel-electric and battery-electric large mining trucks while they are working on a mine site. Caterpillar launched its Cat Dynamic Energy Transfer (DET) system earlier this month, saying that the use of this technology would lead to lower operating costs for miners and a reduction in greenhouse gas emissions. The DET system can also charge the batteries of electric trucks while they are under operation, providing extra speed and upgraded efficiency. Mining giant BHP… Read More Here