The mining industry briefing
The latest news, trends, and data from the mining industry
News in numbers
74%
Mangum Mining and Exploration will sell its 74% interest in the Gravelotte emerald project to URA Holdings
$7bn
Four Algerian and Chinese firms have signed a deal, worth nearly $7bn, to develop an integrated phosphates project in Algeria
160GWh
Volkswagen plans to set up two joint ventures to secure 160GWh worth of nickel and cobalt supplies for electric vehicles
6.25km²
The Nimba Development Company and the Government of Guinea have assumed full control of the Nimba iron ore project, which covers over 6km
$20m
Cerrado Gold has signed a $20m stream financing agreement with Sprott Resource Streaming and Royalty for its Monte do Carmo gold project in Brazil
Project updates
Australian base metal miner MMG has approved the expansion of the Kinsevere operation in the Democratic Republic of the Congo, with an investment of between $500m and $600m. Following the expansion, the project’s operational life is expected to extend to at least additional 13 years.
Beowulf Mining, through its subsidiary Jokkmokk Iron Mines, has received exploitation concession for the Kallak North Iron Ore Project in Sweden. The Kallak area holds an estimated 389 million tonnes of iron mineralisation.
Posco is planning to invest $4bn in a new lithium mining project in Argentina, reported Reuters. The investment forms part of the firm’s plan to capitalise on surging demand for lithium, which is the key metal for rechargeable batteries.
Canada’s Barrick Gold has agreed to restart the Reko Diq gold and copper mining project in Pakistan, following ten years of legal battles and negotiations. An agreement has now been signed by the Canadian mining firm with the Governments of Pakistan and Balochistan province.
FURTHER READING
BHP’s Chilean copper mine fined $8.2m for environmental damage
Chile’s environmental regulator has imposed an $8.2m fine on a subsidiary of mining firm BHP for causing “irreparable environmental damage” in Las Vegas de Tilopozo in the Salar de Atacama.
The fine has been imposed by Chile’s Superintendency of the Environment (SMA) on Minera Escondida, which operates the Escondida copper porphyry deposit in the Atacama Desert in northern Chile.
The fine was the result of exceeding the water extraction limit at the mine. SMA superintendent Cristóbal De La Maza said that excessive use of water resources by the company had significantly affected the Peine indigenous community.
Source: Mining Technology
