Acquisition Details Newmont has finalized the acquisition of Newcrest Mining, significantly expanding its gold mining operations and enhancing its copper production. This deal culminates in the creation of a major entity in the gold industry, encompassing a wide array of mining assets. Operational Synergy and Financials With the merger, Newmont is set to reinforce its...
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Greatland Gold has announced the completion of its inaugural drilling program at the Paterson South project, located in the mineral-rich region of Western Australia. This initial phase was conducted as part of the agreement with Rio Tinto Exploration, a subsidiary of the global mining giant Rio Tinto. The early results have yielded moderate signs of...
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Evaluating Synergies: Glencore is eyeing a prospective collaboration with fellow mining giant Vale, as it approaches the end of operations at its Nickel Rim South mine in the Sudbury region. The partnership would potentially involve mining a copper and nickel deposit straddling the boundary between their respective properties. Feasibility Study Underway: The feasibility study set...
READ MOREMinority Shareholder Calls for Dividend Distribution: SUAL Partners, a significant minority shareholder of Rusal, has approached the aluminum company with a request for an extraordinary general shareholders’ meeting. The purpose is to discuss and potentially distribute dividends for the period of January to September 2023. Upcoming Meetings Highlight Dividend Discussions: The Board of Directors of...
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Transition in Leadership Mining conglomerate Anglo American confirmed that John Heasley will assume his role as the Finance Director starting December 1. The company had previously introduced Heasley as the successor to the position earlier in July, following Stephen Pearce’s retirement announcement in May. Heasley’s Expertise John Heasley, prior to this appointment, held the position...
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Empire’s Evolution Anil Agarwal, the visionary behind Vedanta’s growth into a $10 billion conglomerate, is considering restructuring the company to address increasing debt concerns. His dreams for Vedanta once echoed ambitions to rival industry giants like Exxon and BHP. However, current financial strains are nudging a new direction for the firm. Debt Challenges and Credit...
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Objective Rio Tinto has signed a five-year supply agreement with cable solution provider Prysmian. This agreement is aimed at establishing a more sustainable supply chain in North America for materials used in power grid expansion. Low-Carbon Aluminium Production The agreement focuses on the production of low-carbon aluminium using renewable hydropower from Rio Tinto’s operations in...
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Economic Surge through Expansion Norsk Hydro is injecting £30 million into its Wrexham facility, a strategic move that promises 30 new jobs and an ambition to double recycling capacity to over 100,000 tons annually. This substantial investment was unveiled in the context of a broader campaign, advocating for an £80 million Investment Zone encompassing Wrexham...
READ MOREVancouver, British Columbia – Wheaton Precious Metals Corp. announces a new agreement through its subsidiary, Wheaton Precious Metals International., with Waterton Copper. The agreement pertains to a silver stream on the Mineral Park Mine in Arizona, USA. Randy Smallwood, Wheaton’s President and CEO, comments on the acquisition, highlighting the company’s history with Mineral Park and...
READ MOREL&F, a South Korean battery materials firm, is close to finalizing a 5-year contract with Northvolt, a European battery company, to supply cathode materials. The deal, worth approximately $17.6 billion, represents a significant step for L&F in the battery materials market. The contract came into view after Northvolt certified L&F’s prismatic battery cathode materials, clearing...
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In a strategic expansion move, Rusal has finalized an agreement to acquire a 30% share in a Chinese alumina refinery owned by HWNM, marking a significant investment of 1.911 billion yuan (around $267 million). The deal, inked on October 23, involves an alumina plant situated in Hebei province, noted for a substantial annual throughput of...
READ MORELion Copper and Gold Corp. has revised the Stage 2 Program of Work under its Earn-in Agreement with Nuton LLC, a venture associated with Rio Tinto. The modification involves a 9-month extension of Stage 2, pushing the completion deadline to September 12, 2024. This adjustment is intended to provide adequate time for the completion of...
READ MOREIn a significant development, Ragnar Metals confirmed that it has successfully concluded the sale of Ragnar Metals Sweden, its full subsidiary, to BHP Metals Exploration, part of BHP Group. The transaction, initially revealed on June 26, 2023, includes the Tullsta nickel project, the Gaddebo project in Sweden, and additional cash assets. Deal Specifics and Future...
READ MOREIn a strategic move to optimize value, the Indian government intends to divest its remaining shares in Hindustan Zinc, a Vedanta subsidiary, through a series of smaller transactions spread out over time. This decision aims to avoid market flooding and preserve share value, with the current stakes estimated at around Rs 40,000 crore. A Staggered...
READ MORENornickel expects copper market growth In the remaining months of 2023 and into next year, Norilsk Nickel forecasts steady growth in the global copper market at a rate of 2–3%.The company’s forecast emphasizes the revival of economic activity in China, which is the main producer of red metal on the planet, while also being its...
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In a pivotal move to maintain operational continuity, BHP has reached a preliminary agreement with the union of its Escondida mine in Chile, forestalling a potential strike at the world’s most significant copper mine. Avoiding Work Stoppage Through Mediation This development came on the heels of the union members’ rejection of an earlier proposal from...
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Operational Concerns at the Smelter The Alcoa workforce in Cervo (Lugo) has voiced concerns regarding the decision made in early October to temporarily halt operations at the smelter, the only active department of the factory. The company cites challenging market conditions due to high energy prices and diminished orders as the reasons for this decision....
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Background of the Dispute: Global mining giant BHP has navigated around a potential strike at its Escondida mine in Chile – the planet’s most bountiful copper reserve. This achievement was made public late Wednesday. Details on the Agreement: In the previous month, the union workforce declined the firm’s offer, leading to governmental intervention to prevent...
READ MOREInvestments for Project Development: Nuton, a Rio Tinto venture, and automaker Stellantis have augmented their investments in McEwen Copper, a branch of McEwen Mining. This company oversees the Los Azules copper initiative in San Juan, Argentina, and the Elder Creek venture in Nevada, US. Details on the Stake Increase: Stellantis committed an additional 42bn pesos...
READ MORENewmont announced that an overwhelming majority, over 96 percent of shareholder votes, were in favor of the proposal to issue Newmont common stock for the acquisition of Newcrest Mining. The approval took place at a special shareholder meeting. The next step in this acquisition process is the vote from Newcrest’s shareholders, scheduled for October 13,...
READ MOREMeetings Aim to Address Concerns Over Factory Stoppage Upcoming Meetings: The works council of Alcoa San Cibrao has lined up a series of pivotal discussions concerning the halt of the factory’s smelter in Cervo, Lugo. They’re set to meet with the Consellería de Industria on October 13, and Alcoa representatives on October 16. José Antonio...
READ MOREUmicore and PowerCo are pooling resources to invest nearly €1.7 billion in a new production facility for electric vehicle battery materials in Nysa, Poland. The facility will focus on the creation of active cathode materials (CAM). The collaboration between these two companies led to the formation of the IONWAY project earlier this year. The facility...
READ MORECanadian Critical Minerals Inc. (CCMI) has announced an Ore Purchase Agreement with the New Afton operation for processing. The agreement stipulates that over the next two years, CCMI will supply up to 90,000 tonnes of mineralized material from its Bull River Mine to the New Afton operation located near Kamloops, British Columbia. Currently, a stockpile...
READ MORELondon-based Vast Resources has successfully raised GBP1.8 million ($2.2 million) by placing 933 million shares at 0.195 pence each, a rate which is approximately 22% lower than Thursday’s closing price of 0.25 pence. The funds are earmarked for working capital, addressing the company’s obligations in Romania and at a corporate level, and addressing unexpected operational...
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