The mining industry briefing
The latest news, trends, and data from the mining industry
News in numbers
19.8%
Beacon Minerals will acquire a 19.8% interest in ASX-listed junior mining explorer Maximus Resources.
$6.6bn
The Brazilian competition regulators have approved BHP’s $6.6bn buyout of OZ Minerals.
2%
The Las Bambas mine, which is responsible for almost 2% of global copper production, has halted production due to protests from workers.
$450m
De Beers has announced the provisional value of sales in the first cycle of 2023 for rough diamond sales at $450m.
51%
Hainan will commit $100m to acquire a 51% stake in Kodal’s newly incorporated UK subsidiary, Kodal Mining UK.
Project updates
Indian mining firm Vedanta has abandoned its plan to offload its Sterlite Copper smelter located in the southern state of Tamil Nadu, reported Bloomberg News. Vedanta’s Sterlite Copper Business operates the 400,000mtpa copper smelter with associated facilities such as a refinery and copper rod plant and a sulphuric acid plant.
Vedanta’s Sterlite Copper Business operates the 400,000mtpa copper smelter with associated facilities such as a refinery and copper rod plant, a 1.2Mmtpa sulphuric acid plant and a 220,000mtpa phosphoric acid plant.
Sumitomo Metal Mining has deployed the AutoMine automated loading technology from Sandvik at its Hishikari underground gold mine in Japan.
The AutoMine automation system is designed to boost productivity and operational transparency, offer better cost control and improve safety. Located in northern Kagoshima Prefecture, the Hishikari mine is estimated to hold a high grade of around 20 grams of gold per ton of ore.
Owing to improved iron-ore prices, mining firm CuFe has recommenced operations at the John William Doutch Open Pit iron-ore mine in Western Australia.
With a 60% stake, CuFe operates the joint venture through its subsidiary Wiluna Fe Pty. To support the restart, CuFe has begun hedge book building to cover future sales.
Germany’s BASF is nearing a $2.6bn partnership deal with French miner Eramet to invest in a nickel processing facility in Indonesia, reported Reuters citing Indonesian officials.
The project involves the development of high-pressure acid leach plant in Indonesia’s Weda Bay. It will produce mixed hydroxide precipitate (MHP) from nickel. MHP is used in electric vehicle batteries.
FURTHER READING
Neometals and AVL sign term sheet to explore critical minerals prospects
Through its wholly-owned subsidiary, Australian Titanium (ATI), Battery materials producer Neometals (NMT) has signed a term sheet with Australian Vanadium (AVL) to explore opportunities involving the former’s rock titanium-vanadium deposit.
According to the non-binding term sheet, which is valid for nine months, AVL will process vanadium concentrate from NMT’s Barrambie titanium and vanadium project, which is located about 80km north-west of Sandstone in Western Australia.
The firms will also share non-process infrastructure at AVL’s Tenindewa processing plant site. With mutual agreement, the term sheet can be extended in six-month increments. During the period, AVL, Neometals and ATI will also consider signing binding agreements.
Source: Mining Technology
