The mining industry briefing
The latest news, trends, and data from the mining industry
News in numbers
$235.5m
Adventus Mining, Salazar Resources, Wheaton Precious Metals and Trafigura have committed $235.5m to build the Curipamba copper and gold project in Ecuador.
85%
Mawson Gold has agreed to purchase an 85% stake in the Skelleftea North Gold project in Sweden from Elemental Exploration Scandinavia.
78 million
Defense Metals has finalised the purchase of Canadian firm Spectrum Mining, issuing 78 million common shares in the process.
$22,745
The price of nickel, a key component in the production of electric vehicle batteries, has hit a decade high of $22,745 per tonne.
50%
Rio Tinto has placed an order with Wabtec for four FLXdrive battery-electric locomotives, to help reduce its scope one and two emissions by 50% by 2030.
Project updates
Vox Royalty has agreed to acquire two platinum group metals royalties from Sibanye-Stillwater for $8.3m. The firm will purchase a 1% gross receipts royalty over the Dwaalkop Project and a 0.704% gross receipts royalty over the Messina Project.
MAS Gold has agreed to acquire a 100% interest in the 843ha Preview SW gold project and property in Saskatchewan, Canada, from Comstock Metals. Under the deal, MAS Gold will issue 30 million common shares to Comstock Metals.
Platinex has concluded the purchase of a 100% stake in the W2 copper, nickel and platinum group element project located near the Ring of Fire, north-western Ontario, Canada, from Springer Mineral Resources.
SSR Mining has agreed to divest its Pitarrilla project in Durango, Mexico, to Canadian precious metals mining company Endeavour Silver for up to $127m.
FURTHER READING
Former Welsh miners call for review of pension scheme
Former coal miners in Wales have called for a review into the current arrangements of their pension scheme, which they have dubbed as “appalling”. Last year a parliamentary committee called for a review of the arrangement. However, the government pushed back, arguing that the scheme was “fair and beneficial” to workers.
The main point of contention is that the government receives half of any surplus from the miners’ scheme under the agreement. So far, the UK Government has made $5.9bn from the scheme, in return for guaranteeing its cash value.
Source: Mining Technology
