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Canada to accelerate critical mineral mining – energy minister 1 International Battery Metals 

Canada to accelerate critical mineral mining – energy minister

Constance
Canada plans to boost its energy security by slashing the time it takes to develop new critical mineral mines by nearly a decade with improved permitting processes, energy minister Jonathan Wilkinson told Reuters on Tuesday. Ottawa is focused on six critical minerals key to making electric vehicles and wind turbines: lithium, graphite, nickel, cobalt, copper, and so-called rare earth elements. Wilkinson said the mining and processing of critical minerals was currently too dominated by China. “(We’re) looking at how do we optimize the regulatory and permanent processes so you can… Read More Here
Ivanhoe's Platreef Project Overcomes Water Scarcity Challenge in South Africa 2 Press Release 

Ivanhoe’s Platreef Project Overcomes Water Scarcity Challenge in South Africa

Constance
Mining operations are known for high water usage, which presents a significant challenge in Africa’s water-scarce regions. Ivanhoe’s Platreef Project in Mokopane, South Africa, has successfully addressed its water supply needs through a creative arrangement with the Mogalakwena Local Municipality (MLM). The Mogalakwena area, which is prone to medium-risk droughts, surrounds the Platreef mine, where Phase 1 operations will require up to 3 million liters of water daily, increasing to 9 million liters following Phase 2 expansion. In 2018, Ivanhoe, through its majority-owned subsidiary Ivanplats, reached a deal with MLM… Read More Here
Barrick Gold CEO Bristow Dismisses Interest in Piecemeal Bids for FQM's Assets 3 International Copper Gold 

Barrick Gold CEO Bristow Dismisses Interest in Piecemeal Bids for FQM’s Assets

Constance
Barrick Gold Corp’s CEO Mark Bristow stated on Wednesday that the company is not interested in fragmented discussions when questioned about bidding for any of First Quantum Minerals Ltd’s assets. Bristow clarified that Barrick Gold did not engage with First Quantum shareholders during any roadshow to assess their support for a potential takeover, refuting a media report from the previous month. “I’m not interested in working on any sort of piecemeal discussion,” Bristow told Reuters in an interview following the company’s quarterly earnings report. First Quantum, facing challenges after an… Read More Here
First Quantum CEO: Panama’s next government cannot ignore mining sector 4 Copper International 

First Quantum CEO: Panama’s next government cannot ignore mining sector

Constance
Two months after protests led the Panamanian government to order the shutdown of First Quantum’s Cobre Panama mine, chief executive Tristan Pascall, sees an opportunity for discussing mining’s contribution to Panama’s economy as the country approaches an election in May. “We see that some of the emotion (from the protests) has really dialled back,” Pascall told the Financial Post. “There’s significant economic challenges emerging in the country and we believe it’s impossible for the next government to ignore the contribution that a responsible mining sector can make.” The mine accounts… Read More Here
Gecamines Proposes Acquisition of ERG's DRC Assets 5 Mining in DRC Cobalt Copper 

Gecamines Proposes Acquisition of ERG’s DRC Assets

Constance
Gecamines, the state miner of Congo, has made a concrete offer to acquire select copper and cobalt assets from Eurasian Resources Group (ERG) in the country. This move aims to regain control over projects previously owned by partners and bolster reserves in metals crucial for the green transition. According to Robert Lukama, Chairman of Gecamines, the mining unit is targeting three of ERG’s assets in Congo and has the necessary funding to support the purchase. While the specific projects or mines were not disclosed, ERG’s assets in the region include… Read More Here
Vedanta Resources Initiates Funding and Transition Plans for Konkola Copper Mines in Zambia 6 Mining in Zambia Copper 

Vedanta Resources Initiates Funding and Transition Plans for Konkola Copper Mines in Zambia

Constance
Vedanta Resources, a global natural resources company, has commenced financial support for Konkola Copper Mines (KCM) in Zambia, with an initial disbursement of $25 million allocated for employee salaries, contract labor, and critical services to uphold the asset’s integrity. The company has deployed a technical team to collaborate with KCM’s current management to assess the condition of the operation, ensuring readiness for operations under Vedanta’s control pending the conclusion of the ongoing scheme of arrangement before the court. Upon agreement with creditors and the withdrawal of court cases, the provisional… Read More Here
Glencore Plans Closure or Sale of Unprofitable Nickel Mines in New Caledoni 7 International Battery Metals Lithium 

Glencore Plans Closure or Sale of Unprofitable Nickel Mines in New Caledoni

Constance
Glencore’s joint venture, Koniambo Nickel SAS (KNS), in New Caledonia, is set to transition into care and maintenance due to high operating costs and weak nickel market conditions, the company announced on Monday. Acquired as part of Glencore’s 2013 Xstrata transaction, KNS has struggled with profitability despite efforts by the French government to support the nickel industry in New Caledonia. Glencore expressed gratitude for the government’s initiatives but stated that KNS remained unsustainable, and funding further losses was not justifiable for its shareholders. The company plans to seek a new… Read More Here
Haul road FQM Mining in Zambia Copper 

FQM Expands Central Africa Copperbelt Licences

Constance
Canada-based First Quantum Minerals (FQM) has exercised its option to acquire the remaining two licences in the Central Africa Copperbelt from an agreement with London-listed African Pioneer’s 80%-owned subsidiary, African Pioneer Zambia. The option agreement, initially announced on January 22, saw FQM sign an addendum on February 15 confirming its decision to exercise the option over the two licences, which had not been previously exercised. These licences are identified as exploration licences 27770-HQ-LEL and 27768-HQ-LEL. In addition, FQM had already exercised its option over licences 27767-HQ-LEL and 27771-HQ-LEL, as announced… Read More Here
Vedanta Resources Sells $209 Million Stake in Vedanta Ltd 8 International 

Vedanta Resources Sells $209 Million Stake in Vedanta Ltd

Constance
Vedanta Resources, the parent company of Vedanta, has divested a stake valued at over 17.37 billion rupees ($209 million) in the Indian mining giant, according to exchange data released this week. Finsider International, a subsidiary of Vedanta Resources led by billionaire Anil Agarwal, sold more than 65.5 million shares of Vedanta at 265.14 rupees each, representing a 5.2% discount to Vedanta Ltd’s closing price on Wednesday. Vedanta Ltd’s stock closed 4.2% lower at 267.95 rupees on Thursday. As of December 31, 2023, UK-based Vedanta Resources held a 63.72% stake in… Read More Here
Premier African Minerals Secures Funding for Zulu Lithium and Tantalum Project 9 International Battery Metals Lithium 

Premier African Minerals Secures Funding for Zulu Lithium and Tantalum Project

Constance
Aim-listed Premier African Minerals has announced plans to raise £2.48 million to advance its Zulu lithium and tantalum project. The funds will be utilized for direct operating expenses at Zulu, including final payments for equipment, mining costs, and day-to-day operations. CEO George Roach emphasized the importance of this funding, stating that it ensures the startup of plant operations at Zulu. The company remains focused on its objective and targets to commence production by next week, pending suppliers meeting their obligations. Premier has expanded its mining operations to optimize ore delivery… Read More Here

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