The Briefing on Mining
The latest news, trends and data from the mining industry
Mining in Numbers
Mining giant BHP has committed to invest $400m as part of its Climate Investment Programme over the next five years to reduce greenhouse gas emissions.
The Minas Gerais State Court in Brazil has convicted Vale and declared that the company is responsible for reparation of damages after a tailings dam claimed the lives of more than 240 people.
There has been 29 deepsea exploration licenses granted to countries, including China, Korea, the UK, France, Germany and Russia, according to a recent report by Greenpeace.
A million or more
The mineral resources in space are thought to be a million or more times greater than those on earth.
The world’s biggest miner BHP, announced a 2% decline in profits, as they dropped to $9.47bn from $9.62bn at the end of June.
Pilipino environmentalist Gina Lopez dies
On 16 August, it was announced that Gina Lopez, an environmentalist who led the crackdown on mines in the Philippines had passed away. Ms Lopez was appointed as the country’s environmental secretary in 2016, and ordered the closure of 23 mines along with suspending operations, and cancelling 75 mining companies’ contracts.
Ms Lopez, who was 65, took swift action against mining companies she said had flagrantly violated environmental laws. This includes claims that nickel mines for example, had left rivers and rice fields stained red with pollution.
“I’m going to do the right thing and let the dice fall where it may,” Ms. Lopez said when she canceled the mining permits. “And I am going to hope that maybe these politicians, even if they’re funded by mining money, must have love for God and country in their hearts.”
She quickly due criticism from miners operating the country, and only remained in office for ten months.
Read the full article on New York Times
In the News
Top Project News This Month
Western Australia announces new guidance for mine site rehabilitation
The Western Australia (WA) government and agencies has collaborated with science experts and a wide range of industry representatives on a new mine closure criteria for mine sites across the region. The partnership has announced a new guidance for the rehabilitation of mine sites in WA.
Govenor sentenced over protests against silver mine
The governor of the Puno region in Peru Walter Aduviri has been sentenced to six years in prison by a Peruvian court for his role in leading protests against plans to mine a silver deposit in the area in 2011. Aduviri was found guilty in absentia as his location is currently unknown, with his attorney Aldo Valdivia stating that the Governor was in an undisclosed “safe harbour” due to what he considers to be an unfair judicial process.
Eurasia Mining signs EPC contract with Sinosteel
UK-based Eurasia Mining has signed an engineering procurement and construction (EPC) contract with China-based firm Sinosteel to develop the 2Moz Monchetundra palladium, platinum and gold project in Russia. Sinosteel’s EPC financing covers 85% ($149.6m) of the total contract, which is valued at $176m. Eurasia noted that the Monchetundra project is moving towards production after securing a mining permit.
M&As: This Month's Top Deals
Avesoro Jersey acquires Avesoro Resources
Avesoro Resources has received a non-binding acquisition proposal from its controlling shareholder Avesoro Jersey (AJL) for all shares it does not already own at £1 ($1.21) a share. Currently, AJL holds nearly 72.9% of Avesoro’s common shares and its recent proposal is supported by holders of an additional 12.9% of common shares.
Source: The Citizen
Ganfeng Lithium acquires interest in Caucharí-Olaroz project
Chinese firm Ganfeng Lithium has closed a previously announced transaction to increase its interest in the Caucharí-Olaroz lithium brine project in Jujuy, Argentina from 37.5% to 50%. Minera Exar will use the $160m raised from the transaction to fund the project’s construction.
Source: Universe Today
Mastermyne acquires Wilson Mining Services
Australian company Mastermyne has signed a conditional agreement to buy all shares of Wilson Mining Services (WMS) for an upfront consideration of $7.6m. It will purchase $3.8m in cash and the remaining will be issued as ordinary shares in Mastermyne.
Source: New York Times
NQ Minerals invests in Tasmania Energy Metals
Australia-based mineral processing, exploration and mining company NQ Minerals has announced its investment in private mining company Tasmania Energy Metals. Pursuant to the terms of the debt instrument agreement, NQ Minerals has an option to convert it into Tasmania Energy Metals equity.
Source: Science Alert
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