The mining industry briefing
The latest news, trends, and data from the mining industry
News in numbers
100%
NorthWest will acquire a 100% interest in the KCC-owned Kwanika project from POSCO International.
A$1.02bn
Adaro has announced plans to invest A$1.02bn ($728m) in a new aluminium smelter in Indonesia.
400 million tonnes
Vale aims to increase its annual iron ore production to 400 million tonnes.
14-fold
Indonesia plans to increase the value of its nickel by 14 times through the construction of a new nickel smelter facility in the province of Southeast Sulawesi.
A$666.7m
Wyloo Metals has announced plans to acquire Noront Resources, valued at A$666.7m ($478.1m), for A$1.2 ($0.9) per share.
Project updates
The giant Las Bambas copper mine has stated that it intends to restart its copper output after operations on the mine were suspended in late December, due to a blockade by local community activists that prevented the mine from transporting its copper production to a seaport.
Horizon Minerals has agreed to buy the remaining 50% of the high-grade Penny’s Find gold project in Western Australia from Labyrinth Resources. The consideration includes A$500,000 ($356,206) in cash payment and A$250,000 ($178,103) in Horizon shares.
Pacific Nickel Mines has received development consent from the environment and conservation division of the Solomon Islands ministry of environment for the Kolosori nickel project.
American Eagle Gold has concluded the acquisition of a 100% stake in the NAK property in the Babine Copper-Gold Porphyry district in central British Columbia.
FURTHER READING
Newmont becomes first miner to issue sustainability-linked bond
Gold mining giant Newmont has closed the mining industry’s first ever sustainability-linked bond. The bond raised net proceeds of $992m in a registered $1bn public offering of senior notes issued at 2.6%.
The bond is linked to the performance of the company in the area of environmental, social and governance (ESG), and is specifically focused on limiting the company’s carbon emission levels and delivering on its commitment to promote more women into senior roles. If Newmont fails to achieve these ESG commitments it will pay more interest to bondholders.
Source: Mining Technology
