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US alumina and aluminium products producer Alcoa has announced plans to curtail production at the Kwinana Alumina Refinery in Western Australia by 2024. This process is set to begin in Q2 2024. 

The refinery, which currently operates at approximately 80% of its 2.2-million-tonne annual capacity, will see a phased workforce reduction from around 800 employees to approximately 250 by Q3 2024. 

An Alcoa spokesperson said that the decision to cease operations at the 60-year-old facility is due to its age, scale, operating costs and current bauxite grades, in addition to current market conditions. 

Despite the curtailment, Alcoa will actively manage the refinery and associated residue storage facilities. 

The company’s port facilities, located alongside the Kwinana refinery, will remain operational to facilitate the import of raw materials and export of alumina from Alcoa’s Pinjarra Alumina Refinery.

Liatam Mining has announced an investment of A$1.8m ($1.2m) in Novo Resources to increase its stake in the company. 

As per the terms of the deal, Liatam acquired an additional 9,000,000 common shares by paying A$0.20 for each share. With this deal, Liatam has increased its stake in the company from 3% to 6%. 

Liatam will have the right to transmute the issued shares into ASX CDIs (CHESS Depositary Interests) after the of the four-month hold period to which the acquired shares are subject. 

In December, SQM Australia agreed to pay A$10m to acquire a 75% stake in five of Novo’s prospective lithium – nickel tenements in the West Pilbara region of Western Australia, forming the Harding Battery Metals joint venture, and for an option over further Novo Pilbara tenements.

The Donald mineral sands project in Victoria, Australia, is set for development, after Energy Fuels reached a non-binding memorandum of understanding (MoU) with Astron. 

Through the partnership, Energy Fuels aims to secure supply of rare earth minerals with estimated 7,000 tonnes of rare earth-bearing monazite sand, annually from 2026. 

There is also a potential to double the output soon after. A spokesperson for Energy Fuels stated that it is focused on creating a US-based supply chain for critical minerals, reducing reliance on China. 

The MoU grants Energy Fuels exclusive rights to conduct due diligence and negotiate definitive agreements until 1 March 2024. 

The project is expected for commissioning and ramp up in 2026.

Chile – the world’s biggest copper producer and the second-biggest lithium producer after Australia – has suffered a setback to its plans to ramp up gold production. 

The country - only the 23rd biggest producer of gold globally, according to data from the World Gold Council - will not see the start of first gold production at the Salares Norte project until later this year. 

Gold Fields, the developer, cited delays in pre-commissioning and commissioning activities as the reason for the hold-up. 

First production is now expected to begin by April, the company said in a press statement, adding that production volumes for 2024 have been revised down and are now expected to fall within a range of 220,000–250,000 gold-equivalent ounces. Predicted production volumes for 2025 and 2026 remain unchanged at approximately 600,000 gold-equivalent ounces per year, Gold Fields said.

Genmin, an Australian Securities Exchange (ASX)-listed mining company, has obtained a 20-year mining permit for its wholly owned Baniaka iron ore project in Gabon, West Central Africa.   

The permit was granted through a presidential decree signed by Gabon’s President, Général Brice Clotaire Oligui Nguema.  

After securing the mining permit, the company’s immediate goals are to complete a planned capital raise to supply general working capital, a spokesperson said.   

Furthermore, within the next two quarters, it aims to move forward and conclude negotiations with possible project-build financiers.  

Located in the south-eastern part of the country, the Baniaka project encompasses the Baniaka and Baniaka West exploration licences, covering a total area of 881km².