TSX-listed Ivanhoe Mines has made an important new discovery of high-grade copper on its 100%-owned Western Foreland licences, west of the Kamoa-Kakula mining licence in the Democratic Republic of Congo (DRC). This discovery, Makoko, is the first of multiple high-potential target areas identified by Ivanhoe’s exploration team to be tested by drilling and is Ivanhoe’s third major copper discovery in the DRC.
Aim-listed Arc Minerals will raise about £2-million to help fund exploration and development work on the company’s Kalaba copper/cobalt project, in Zambia, and for general working capital purposes. On Monday, the company placed more than 44-million units at 4.5p a unit, with each unit comprising one ordinary share of no-par value in the company and one share purchase warrant.
Shares in Crusader Resources were suspended on the Aim on Monday, after the company failed to raise sufficient funding, raising “material uncertainty” about its going concern status. Crusader had to raise funding before the end of September, but said on Monday that it had not yet managed to do so, despite positive discussions with a number of debt and equity providers.
South America-focused platinum group metals (PGM) project developer Jangada Mines on Monday announced that it had been issued an environmental licence for trial mining at the Pedra Branca project, in north-eastern Brazil. The environmental licence is the final requirement before the company can submit an application for a trial mining licence. The application will be lodged before year-end, although Jangada does not plan to start trail mining until after it has completed a bankable feasibility study (BFS).
Norway's Statnett will lift electricity grid tariffs by 9% in 2019 and halve the discounts granted to its most power-intensive consumers within three years, it said in a statement on Monday. The grid operator is changing its tariff models in order to pay for investments in Norway's distribution network, which needs to be reinforced in part due to the move from fossil fuels to renewable power in the Nordic region, it said.
The announcement on Monday of a business combination of silver miner Americas Silver and emerging gold producer Pershing Gold is providing a “clear path” to the development of the Relief Canyon openpit gold mine, in Nevada. The increased financial and operating capabilities of the combined business would benefit the shovel-ready project, Pershing Gold president and CEO Steve Alfers said in a statement, announcing the transaction with the TSX- and Nasdaq-listed company.
NYSE-listed Cleveland-Cliffs and labour union United Steelworkers (USW) have announced a joint tentative agreement for a new four-year labour contract, effective from October 1. The new contract will cover about 1 800 USW-represented workers at Cliffs’ Tilden and Empire mines in Michigan, and its United Taconite and Hibbing Taconite mines in Minnesota.
Earth science information organisation Geoscience BC has released a new geological map and data, which is the latest in a series of research projects to encourage mineral exploration in the regional district of Kootenay Boundary in southern British Columbia. The 1:50 000 scale “Geology of the Greenwood” map provides an updated understanding of the relationships between different rock types and their ages around Greenwood, where there has been significant gold/silver/copper/lead/zinc mining since late 1880.
Diversified giant BHP has completed the sale of its Fayetteville Onshore US gas assets for $0.3-billion. BHP in July announced that it had struck a deal with Merit Energy Company to divest of its interest in BHP Billiton Petroleum (Arkansas) and its membership interest in BHP Billiton Petroleum (Fayettteville), which hold the Fayetteville assets.
Canadian base metals miner Lundin has promoted VP of finance, Jinhee Magie, to the position of senior VP and CFO, succeeding Marie Inkster, who on Monday formally took over from Paul Conibear as president and CEO. Conibear, who announced his retirement in July, will continue as an adviser until the end of the year.
Mining major Rio Tinto has confirmed that it has signed a binding agreement to divest of its interest in the Grasberg mine, in Indonesia. In terms of the divestment agreement announced last week, State-owned enterprise PT Indonesia Asahan Aluminium (Inalum) will acquire all of Rio Tinto’s interest in the Grasberg joint venture (JV) company PT Freeport Indonesia (PT-FI) and 100% of Arizona-based Freeport-McMoRan’s interest in PT Indocopper Investama, which owns 9.36% of PT-FI.
US coal miner Peabody Energy has developed and is implementing a multi-tiered plan to extinguish and contain a fire at its North Goonyella mine, in Queensland. Elevated gas levels were detected at the mine during a scheduled longwall move, with personnel observing black smoke coming from the mine, prompting Peabody to confirm a fire in a portion of North Goonyella on Friday.
A panel of the world’s top climate scientists is preparing to recommend much deeper cuts in fossil-fuel pollution than currently suggested as a pathway to stave off a dangerous increase in global temperatures. Utilities by 2030 would have to consume just a third of the coal they burn now to hold global warming since the start of the industrial era to 1.5 °C, according to a draft of the findings that the group will consider when it meets starting Monday in Incheon, South Korea. The cut is more than... Читать дальше...
