The mining industry briefing
The latest news, trends, and data from the mining industry
News in numbers
63%
Petra Diamonds has reduced its share in the Williamson diamond mine from 75% to 63%.
$240m
AVZ has raised funds for early works at its Manono project in the Democratic Republic of the Congo.
690km²
EGA subsidiary GAC will mine bauxite from an area close to 700 square kilometres in Guinea.
$1.4bn
Canada’s Kinross has signed a $1.4bn deal to acquire fellow Canadian miner Great Bear.
8.8Mtpa
Zimplats aims to increase capacity to 8.8 million tonnes per annum across its operations.
Project updates
Orla Mining has announced that its first gold pour at its Camino Rojo Oxide mine in Zacatecas, Mexico, is on schedule. The company poured three bars with a total weight of 1,278oz.
Gold miner and lithium developer Firefinch has completed a $71.2m institutional placement to accelerate production growth at the Morila project in Mali. In a statement, the company said that the placement of shares generated strong support from existing shareholders and new investors.
Wheaton Precious Metals is to acquire gold and silver streams on the Blackwater project in British Columbia, Canada, for $441m. The company signed a definitive agreement to acquire the existing gold stream from New Gold for $300m.
The board of Anglo American Platinum has approved the Mototolo / Der Brochen life extension project in South Africa. The extension project is expected to involve an investment of around $245m in nominal terms over six years.
FURTHER READING
Chinese miners scout opportunities in Afghanistan
Chinese mining representatives have visited Afghanistan over recent weeks to scout the country’s large lithium and copper deposits. Chinese representatives made on-site visits to inspect the extraction of the crucial metal for batteries and other technologies to combat the climate crisis.
The on-site explorations by Chinese miners mark the first step in cooperation to develop Afghanistan’s potential mineral deposits.
Yu Minghui, director of China’s Arabic Economic and Trade Promotion Committee in Kabul, told Global Times that together with Afghanistan’s Ministry of Mines, special visas were obtained for representatives of the five Chinese companies that arrived in Afghanistan in early November to scout for the precious metal.
Source: Mining Technology
