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North America News
All-round value unlock targeted in proposed demerging of Anglo Platinum and De Beers 
By: Martin Creamer 14th May 2024 Diversified mining major Anglo American is targeting value elevation in its planned demerging of South Africa-based Anglo American Platinum (Amplats) and the envisaged divestment or demerger of Southern Africa-dominant De Beers. In rejecting BHP’s second takeover offer, Anglo intends reshaping... →
Korea Zinc sees US opportunities as it targets big copper growth
By: Bloomberg 14th May 2024 The world’s largest zinc smelter is planning to significantly expand its copper output, taking advantage of growth opportunities in the US as it seeks to become a leading player in the global transition to renewable energy. Korea Zinc, which also processes nickel, is looking to increase its... →
SolGold advances financing for Cascabel, secures $10m loan
By: Mariaan Webb 14th May 2024 LSE- and TSX-listed SolGold said on Tuesday that it was making significant strides in securing financing for its Cascabel project, in Ecuador, with capital providers expressing a keen interest in committing to a longer-term financing package. The company is in detailed discussions with capital... →
Tin prices may see further support from supply risks, rate cuts, analysts say
By: Reuters 14th May 2024 Tin prices, which have rallied in recent months to near two-year highs, could be bolstered further by supply disruptions, ongoing geopolitical conflicts, fund inflows in the event of interest rate cuts and stabilising demand, analysts say. Benchmark three-month tin on the London Metal Exchange... →
Copper climbs to highest in two years as bulls see deficit
By: Bloomberg 14th May 2024 Copper touched its highest level since 2022 after a powerful rally fueled by forecasts of a growing global supply deficit. The commodity’s gain since the start of January is approaching 20% with prices defying typical indicators of soft demand, especially in China. That’s partly because... →
Investors expect BHP to lift Anglo American offer again
By: Reuters 14th May 2024 BHP is likely to sweeten its $43-billion takeover offer for Anglo American for a second time and possibly add cash, investors in both companies said on Tuesday, after the London-headquartered target rejected a higher bid. Anglo said the improved all-share offer, up 10% from BHP's initial... →
Buxton acquires Arizona manganese exploration project
By: Creamer Media Reporter 14th May 2024 Australia-listed Buxton Resources on Tuesday announced an agreement to acquire a manganese brownfields exploration project in Arizona, US. The Matrix manganese project, in Mohave county, is adjacent to the Artillery Peak project, which has a resource of 277-million tonnes at 2.8% manganese. →
Analysts highlight concerns over valuation, regulatory hurdles in BHP-Anglo proposal
By: Mariaan Webb 14th May 2024 The rejection – for the second time – of BHP’s attempt to propose a deal with Anglo American underscores the concerns that continue to persist regarding value and regulatory hurdles in the proposed transaction. Responding to the latest developments in the BHP-Anglo takeover, CreditSight analysts... →
Green energy presenting South Africa with massive reindustrialisation chance – Nedbank 
By: Martin Creamer 13th May 2024 Green electrons and green molecules are presenting South Africa with a massive opportunity to reindustrialise, Nedbank CIB head of infrastructure, energy and telecommunications Mike Peo told the Green Hydrogen Roundtable on Monday. “We have an opportunity for South Africa to completely... →
Anglo rejects BHP's revised £34bn proposal
By: Mariaan Webb 13th May 2024 Diversified major Anglo American has rejected a revised proposal put forward by BHP, which valued the UK-headquartered miner at about £34-billion. The structure of the revised proposal, unveiled on Monday, remained unchanged from the previously rejected proposal of last month. It comprises an... →
Caledonia starts year with higher output, profit
By: Marleny Arnoldi 13th May 2024 Gold miner Caledonia Mining says its production and profit was supported by a favourable gold price in the first quarter of the year, which has continued through April and into May. The company’s Blanket and Bilboes mines, in Zimbabwe, recorded a 6% increase in production to 17 476 oz, compared... →
Clean Air Metals appoints new VP of exploration
By: Creamer Media Reporter 13th May 2024 Canadian exploration company Clean Air Metals has appointed Lionnel Djon as its new VP of exploration, succeeding Geoff Heggie who has left the company to pursue other opportunities. Djon has most recently led the exploration team at Impala Canada. Under his leadership, significant mineral... →
Platinum demand outlook pretty robust, World Platinum Investment Council highlights
By: Martin Creamer 13th May 2024 The outlook for platinum is one that's pretty robust, the World Platinum Investment Council (WPIC) has highlighted in its latest Platinum Quarterly, which shows the projection of the metal's demand as being very encouraging amid a near-record-low supply prediction. Automotive demand is at a... →
Ardiden CEO steps down amid restructuring
By: Creamer Media Reporter 13th May 2024 Exploration company Ardiden’s Greg Romain has resigned as MD and CEO with immediate effect, the ASX-listed junior announced on Monday. CFO Tara Robson has assumed the role of interim CEO of the company, which owns the Pickle Lake gold project in Ontario, Canada. →
Peninsula expands Lance uranium resource estimate
By: Creamer Media Reporter 13th May 2024 ASX-listed Peninsula Energy has announced qn updated mineral resource estimate (MRE) of 58-million pounds of uranium oxide (U3O8) for the Lance project, in Wyoming. The updated resource estimate is based on the results of 2023 drilling in the Ross and Kendrick areas and represents a 7.8%... →
Western Canada blazes cause evacuations, air quality concerns
By: Reuters 13th May 2024 The season's first major wildfires have spread to roughly 10 000 ha across Western Canada on Sunday as authorities issued an evacuation order for a community in British Columbia and warned of poor air quality across provinces. In British Columbia, thousands of residents in Northern Rockies... →
OceanaGold Philippines' shares decline in early trades on market debut
By: Reuters 13th May 2024 Gold miner OceanaGold Philippines' shares fell as much as 6% below their initial public offering (IPO) price in the first 15 minutes of trading on their market debut on Monday. The shares opened at 13.34 pesos ($0.2314) a touch above their IPO price of 13.33 pesos, but subsequently lost ground. →
Stranded coal ship leaves Port of Baltimore amid work to clear main channel
By: Reuters 13th May 2024 coal ship stranded at the Port of Baltimore set sail for Singapore this week as crews work to remove the Dali container ship that crashed into the Francis Scott Key Bridge, causing it to collapse and block access to the port. The Liberian-flagged JY River exited the port via a temporary channel... →
Anglo investors tell company to move faster to survive BHP bid
By: Bloomberg 13th May 2024 Anglo American’s shareholders are pushing the company to speed up the release of its turnaround plan as the 107-year-old miner seeks to present an alternative to BHP Group’s takeover bid. Anglo has been reviewing its business since mid-2023, looking at every mine in its portfolio to help reshape... →
Miners seek exemption from Canadian tax hike to save equity deals
By: Bloomberg 13th May 2024 Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains taxes, warning the hike will make it harder for junior miners to raise money to find new mineral deposits. Finance Minister Chrystia Freeland’s new budget includes a measure to... →
St Barbara’s decade-long vision for Simberi
By: Mariaan Webb 10th May 2024 Australian gold miner St Barbara has crafted a roadmap for the advancement of the Simberi mine, in Papua New Guinea, outlining production scenarios aimed at elevating output to about 230 000 oz/y through to 2034. The concept study scrutinised six different cases, comprising two flowsheet options... →
Fantastic advance by Proudly South African manganese battery metal first-mover
By: Martin Creamer 10th May 2024 Proudly South African Manganese Metal Co (MMC) of Mbombela, Mpumalanga, is making a fantastic first-mover advance to enter the manganese battery metal market, which is progressing super-fast. To be established is a faster stream to market, which is not only ahead of the global game, but also... →
Copper above $10 000 as supply worries counter faltering demand
By: Bloomberg 10th May 2024 Copper climbed above $10 000 a ton as predictions for tighter global supplies and rising consumption in electric vehicles and power grids countered signs of demand destruction in top user China. Prices of copper have risen 17% this year on fears of shortages, with aging mines forecast to... →
Mkango executives’ salaries cut by up to 50% until September
By: Darren Parker 10th May 2024 Aim-listed Mkango Resources has cut the salaries of its executive management team by between 25% and 50% from April through to September. This comes as part of the company’s cost cutting initiatives and is complementary to Mkango’s recent £750 000 private placement closing, as announced on April 11. →
Froneman confident PGM prices will rebound once temporary decline abates
By: Darren Parker 10th May 2024 Multinational mining and metals processing group Sibanye-Stillwater CEO Neal Froneman remains confident that the platinum group metals (PGM) price outlook is fundamentally positive and that the price gouging of late was merely a temporary phenomenon. “Our view that the fundamental outlook for... →
DRDGOLD posts lower third-quarter output, but higher earnings
By: Marleny Arnoldi 10th May 2024 JSE-listed gold recovery company DRDGOLD has generated higher adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter ended March 31, compared with the same quarter of last year, despite having produced slightly fewer ounces. Adjusted Ebitda in the... →
Iamgold guidance on track as Essakane and Westwood shine
By: Mariaan Webb 10th May 2024 Canadian gold miner Iamgold has announced a promising start to the year, reporting robust results across its operations and projects in the first quarter, positioning the company well to meet its guidance targets. CEO Renaud Adams attributed the first-quarter success to the combination of stable... →
Sibanye reports lowest serious injury rate in its history for the first quarter
By: Darren Parker 10th May 2024 JSE- and NYSE-listed Sibanye-Stillwater has reported its lowest group serious injury frequency rate (SIFR) in its history for the first quarter, ended March 31. The SIFR of 2.19 was 15% lower than the first quarter of last year and marked the third consecutive yearly improvement for the group’s... →
Gowans and Deranger retire from Cameco board
By: Creamer Media Reporter 10th May 2024 Canadian uranium producer Cameco has announced the election of eight board members at its annual meeting on Thursday. The board comprises Daniel Camus, Tammy Cook-Searson, Catherine Gignac, Tim Gitezel, Kathryn Jackson, Don Kayne, Dominque Minere and Leontine van Leeuwen-Atkins. →
Montage receives enviro permit for Côte d'Ivoire project
By: Creamer Media Reporter 10th May 2024 TSX-V-listed Montage Gold has received a signed Ministerial order from Côte d'Ivoire granting the environmental approvals necessary for the development of its 300 000 oz/y Koné project. In addition, Montage has submitted the mining permit applications for the project and expects receiving all... →
Aurion opts out of right of first refusal for Finland JV with B2Gold
By: Mariaan Webb 10th May 2024 Canadian exploration company Aurion Resources has elected not to exercise its right of first refusal (RoFR) to acquire a 70% interest from joint venture (JV) partner B2Gold in their Finland venture. In March, B2Gold informed Aurion of an offer from Rupert Resources to acquire its 70% interest in... →
Johnson Matthey forecasts lower palladium, rhodium deficits, but larger platinum deficit
By: Marleny Arnoldi 9th May 2024 Chemicals and sustainable technologies provider Johnson Matthey says the palladium and rhodium markets are likely to record smaller deficits this year, while platinum is likely to record a deficit of 600 000 oz on the back of lower primary supplies. It states in its latest yearly ‘PGM Market... →
Hydrogen’s ‘irreplaceable’ role highlighted by platinum-linked venture capital provider
By: Martin Creamer 9th May 2024 The role of hydrogen in the decarbonisation of the hardest-to-abate sectors of the global economy continues to be highlighted as “irreplaceable” by AP Ventures, the independent venture capital fund focused on investing in early-stage companies that use or enable the use of platinum group metals... →
De Beers progresses diamond traceability, emissions reduction targets
By: Chanel de Bruyn 9th May 2024 As part of efforts to provide increased provenance across the diamond industry, De Beers plans to bring the first non-De Beers Group goods onto its Tracr platform this year. The Tracr platform uses blockchain, AI, the Internet of Things and advanced security and privacy technology to track a... →
Standard Lithium and Equinor form US lithium partnership
By: Creamer Media Reporter 9th May 2024 TSX-V-listed Standard Lithium on Wednesday announced a strategic partnership with NYSE-listed energy group Equinor to accelerate the development of lithium projects in Arkansas and Texas. In terms of the transaction, Equinor will make a $160-million investment for a 45% interest in two special... →
Engineering News & Mining Weekly magazine now available on PressReader
9th May 2024 Creamer Media’s Engineering News & Mining Weekly is now available on one of the world’s leading digital newspaper and magazine distribution platforms, PressReader. Readers can download the current weekly edition as well as back copies on PressReader. →
BHP and Ivanhoe Electric join forces for a US copper hunt
By: Mariaan Webb 9th May 2024 Toronto-listed Ivanhoe Electric has announced an exploration alliance agreement with the top diversified miner BHP, targeting copper and other critical minerals in the US. The alliance will explore six mutually agreed areas of interest over 3 655 km2 in Arizona, New Mexico and Utah. →
Rob McEwen optimistic about Argentina’s economic revival
By: Mariaan Webb 9th May 2024 Renowned mining magnate Rob McEwen is optimistic about Argentina’s economic prospects, citing President Javier Milei’s commitment to fiscal discipline and foreign investment as key drivers for growth. McEwen recently returned from a trip to Argentina, where he met Milei and engaged in... →
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