Solaris Resources has confirmed a private placement agreement with an affiliate of Zijin Mining Group, amounting to approximately $130 million. Under this agreement, Solaris will issue 28,481,289 common shares at a price of $4.55 per share. This price represents a 14% premium over the closing price on the Toronto Stock Exchange as of January 10, 2024. Following this transaction, Zijin...
Mining news
Vale Indonesia Continues Intensive Exploration with Significant Investment
Vale Indonesia (INCO) is actively pursuing exploration activities, focusing on areas within its Contract of Work. As reported by Filia Alanda, Corporate Secretary of INCO, these explorations are centered around Sorowako Block and Sorowako Outer Area in East Luwu Regency, South Sulawesi, as well as Bahodopi Block in Morowali Regency, Central Sulawesi, and Pomalaa Block in Kolaka Regency, Southeast Sulawesi....
Eurobattery Minerals Advances Concentration Plant at Finnish Battery Mineral Mine
Eurobattery Minerals is moving forward with the process design for the concentration plant at its Hautalampi battery mineral mine project in Finland. The company holds the majority stake in the Hautalampi project. Roberto García Martínez, CEO of Eurobattery Minerals, expressed satisfaction with the progress of the Finnish battery mineral project. He emphasized the importance of finalizing the environmental permit process...
Unite Calls for Government Intervention in Tara Mines Crisis
Unite, a trade union representing employees at Tara Mines, has strongly criticized the rescue plan proposed by Boliden, the Swedish multinational operating the mine. The union has accused Boliden of adopting a “slash and burn” approach to jobs, with the plan entailing a significant reduction in the workforce and alterations in terms and conditions for the remaining employees. Operations at...
Alumina Shares Surge Following Kwinana Refinery Closure Announcement
Alcoa and its ASX-listed partner Alumina have decided to cease production at the 60-year-old Kwinana refinery in Western Australia by September. This strategic move is anticipated to potentially bring dividends back as early as next year. Following this announcement, a number of analysts upgraded their earnings expectations, ratings, and target prices for Alumina. Alumina Limited, owning a 40% stake in...
Safety Concerns Halt Mill Operations at Newmont’s Telfer Mine
Immediate Shutdown Due to Structural Issues Newmont has been compelled to cease operations at the mill of its Telfer mine in Western Australia. This decision was taken in response to safety concerns surrounding the mine’s tailings facilities, particularly after detecting structural problems at the newest tailings facility shortly before Christmas. The company reported the discovery of “cracking and seepage” on...
GoGold Anticipates Developments in 2024
GoGold Resources has provided a comprehensive outlook for 2024, following a year of progress in the Los Ricos district. The company has successfully expanded its resources in the district, with 186 million silver equivalent (AgEq) ounces in measured & indicated resources and 87 million AgEq ounces in inferred resources. Additionally, GoGold completed two preliminary economic assessments (PEAs) in Los Ricos...
Kanmantoo Initiates Bulk Underground Mining Operations
First Stope Blast and Progress in Mining Activities Kanmantoo Mine has marked a significant milestone with the initiation of bulk mining operations underground. The first stope blast occurred on December 30, 2023, with subsequent blasts gradually increasing in scale. These developments are crucial as the mine transitions to an advanced stage of ore extraction. Following the initial blast, ore haulage...
Trigon Optimistic About Enhancing Kombat Mine’s Profit Margins
Trigon Metals, a Canadian mining company, has revitalized copper production at Namibia’s Kombat Mine, showing promise for increased profitability. Since resuming operations on October 10 last year, the company has made significant strides in the mine’s output, suggesting a positive outlook for future profitability. Jed Richardson, President and CEO of Trigon Metals, highlighted the potential for increased production to drive...
Stalled Revitalization of Portovesme Metallurgical Hub in Sardinia
Stagnation Despite Investment Plans The industrial hub of Portovesme in southwestern Sardinia, which was once a bustling center of employment with nearly 15,000 workers, now remains in limbo. Despite having plans and resources for investments worth nearly one billion euros, the revitalization of the metallurgical hub is yet to commence. Eurallumina’s Crucial Role and Challenges Eurallumina, controlled by Russia’s Rusal,...