The Briefing on Mining
The latest news, trends and data from the mining industry
Deal value rose by 51% in 2018 to its highest point in five years, reaching $77.8b, according to EY.
Iron ore hit a new five year high at $107, predominantly due to continued Vale mine closures.
The forecast for Nickel Sulphate demand has risen to over 900,000tby 2029 thanks to the increasing demand for lithium-ion batteries being driven by electric vehicles.
China produces 70% of the world's rare earth metals, making its international relations key for the global move towards electrification, in particular the battery sector.
NASA's target date for building a Lunar Gateway moon base, part of a plan to mine the moon and asteroids in a mission including 37 space launches over the next 10 years.
Court upholds Virginia ban on uranium mining
The Virginia Uranium v. Warren, No. 16-1275 case came to a close on Monday 17 June, with a fractured vote. It concluded that the state of Virginia could ban uranium mining, despite previous claims that the federal law, the Atomic Energy Act, could bar a moratorium on mining the mineral.
The case began in the 1970s, with the discovery of the US’ largest uranium deposit in Pittsylvania County, Va. When a private company began leasing the mineral rights, it prompted the state to instigate an indefinite ban on mining uranium.
This controversial move was criticised by many, who view uranium as a strategic asset that should be exploited. Others supported the ban, viewing the mining as potentially damaging to the environment, especially given the hazardous waste such mining produces.
Read the full article on NYTimes.
In the News
Top Project News This Month
Valmec secures contract from Newmonth Goldcorp for Tanami expansion
Valmec has secured a new $5m (A$6m) construction contract from Newmont Goldcorp Services for infrastructure works associated with its proposed Tanami Expansion 2 (TE 2) project in Australia. The TE 2 project is located 540km north-west of Alice Springs in the Northern Territory. It is an underground gold mine capable of producing more than 496,000 referred ounces of gold per annum.
Endeavour Silver receives final tailings permit for Terronera project
Endeavour Silver has received the final tailings permit for its Terronera silver-gold mine project in the Mexican state of Jalisco. Consisting of 21 mineral concessions, the project is situated on the north-west side of Jalisco, near the town of San Sebastian, approximately 40km north-east of Puerto Vallarta.
Mining operations restart at Avesoro’s Youga gold mine in Burkina Faso
Canadian exploration and development company Avesoro Resources has announced the restart of the mining processing and operations at the Youga Gold Mine in Burkina Faso. Mining operations restarted at Youga on 15 June, with processing operations recommencing on 16 June.
M&As: This Month's Top Deals
Chalice Gold Mines agrees to acquire North West Nickel
Chalice Gold Mines has agreed to acquire North West Nickel (NWN), which holds a portfolio of nickel exploration projects, including the Ruins nickel sulphide project in the west Kimberley region of Western Australia. Under the deal, Chalice will acquire all the outstanding shares in NWN by issuing 7.5 million fully paid ordinary shares to NWN, which effectively reimburses NWN for costs incurred to date.
Source: The Citizen
Komatsu to acquire global mining technology firm Immersive
Komatsu has signed an agreement through its wholly owned subsidiary in Australia to acquire global mining technology firm Immersive Technologies for an undisclosed sum. Following the deal, the company will retain its headquarters in Perth, Western Australia, and continue to deploy its solution, which aligns people, process, and technology to reduce risk, quantify training impact and manage the training process properly.
Source: Universe Today
Saracen Mineral signs implementation deed to acquire Bligh Resources
Saracen Mineral has entered a bid implementation deed to acquire all of the shares of Australian gold exploration company Bligh Resources for A$38.2m ($26m).
Bligh Resources’ only project Bundarra is located less than 30km south of Saracen’s Thunderbox project and comprises five mining leases and six prospecting licences that host four known gold deposits. The project has JORC-compliant resources of 9.7Mt at a grade of 2.1g/t for a total of 660,000oz of gold.
Source: New York Times
Agnico Eagle proposes acquis
Agnico Eagle Mines has delivered a definitive offer to acquire 100% of Alexandria Minerals’ issued and outstanding common shares in a deal valued at approximately C$26m ($19.51m). Alexandria Minerals’ board of directors has determined that Agnico Eagle’s proposal constitutes a ‘Superior Proposal’ as defined in the arrangement agreement between Alexandria and Chantrell Ventures. It is not subject to any financing or due diligence conditions.
Source: Science Alert
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