The mining industry briefing
The latest news, trends, and data from the mining industry
News in numbers
Koba Resources has acquired the JB1 and Davidson lithium pegmatite projects, which cover a total area of approximately 190km².
KoBold Metals has pledged a $150m investment to own, explore and develop the Mingomba copper-cobalt mine in Zambia.
Upon completion of the Kokkola Industrial Park expansion project, the Jervois’ refinery annual capacity will increase to 12,250 tonnes of refined cobalt.
Kenorland Minerals has agreed to sell rights and 100% interest in 844 mining claims that make the Opinaca Lithium Project to Targa Exploration.
The planned Kabanga Nickel mine and refinery project is estimated to hold mineral resources of 44 million tonnes at an average in-situ nickel grade of 2.61%.
The Indian Ministry of Mines has announced that Khanij Bidesh India Limited (KABIL) is planning to collaborate with Catamarca-based state mining company Camyen in Argentina.
This collaboration is part of KABIL’s efforts to source strategic minerals from Argentina, Chile and Australia. KABIL intends to work with companies in Argentina for prospecting two areas with plans to set-up new projects for extraction of lithium.
JX Nippon Mining & Metals and its member Taniobis have entered into a strategic partnership with Advanced Metallurgical Group (AMG) Brasil for tantalum production.
This is the initial step in JX Nippon’s efforts to expand into mineral resources business with rare metals. As part of the new plans, JX Nippon will work together with AMG Brasil for the production of tantalum raw materials from ores extracted at AMG-operated Mibra mine in Minas Gerais, Brazil.
Canadian company Barrick Gold has signed a final agreement with Pakistan’s Government and Balochistan’s provincial government to restart operations at the long-stalled Reko Diq gold and copper mining project in the country, reported Dawn.
The deal, which is effective from 16 December, comes days after the Supreme Court of Pakistan declared the out-of-court settlement signed in March 2022 between the Pakistani Government and international firms Barrick Gold and Antofagasta as legal.
Ora Banda Mining has secured non-dilutive debt and royalty funding of $12.74m to advance its Riverina underground project at the greater Davyhurst gold project in Western Australia.
For the financing, the company signed an agreement with its largest shareholder, Hawke’s Point Holdings. The financing comprises $11m in unconditional and unsecured loan, and a capped net smelter return royalty related to certain gold products to Hawke’s Point in exchange for $1.74m.
Mining magnate Palmer offloads Yabulu nickel refinery for $1.3bn
Australian mining tycoon Clive Palmer has divested the troubled Yabulu nickel refinery in Queensland, Australia to Swiss special purpose vehicle Zero Carbon Investek, reported Reuters.
With the sale of the Yabulu Nickel and Cobalt Refinery, Palmer has reportedly raised A$2bn ($1.3bn). Palmer acquired the refinery from Australian mining firm BHP in 2009.
In 2016, the Yabulu refinery went into voluntary administration due to drop in nickel prices and was placed on high-level of care and maintenance. It is yet to restart operations.
Source: Mining Technology