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Impala Platinum signs Black empowerment deal

South Africa’s Impala Platinum has entered agreements to implement a B-BBEE transaction for its Rustenburg assets and the Bafokeng assets that it took over in 2023. This move will see Black investors picking a 13% stake in Impala Platinum, Impala Bafokeng Resources. The equity ownership in Impala and Impala Bafokeng Resources will be distributed among an employee share ownership trust (4%), a community share ownership trust (4%) and a strategic empowerment consortium (5%).

Mali signsdeal with Ganfeng for Goulamina mine operation

The Mali Government has signed an agreement with Chinese company Ganfeng Lithium, granting it operational rights to the Goulamina lithium mine. This move aligns with Mali’s revised mining code, which aims to bolster government ownership and address perceived revenue deficits from mining operations. Under the new terms, Mali’s stake in the Goulamina project will increase from 20% to 35%.

Cosmos to acquire 80% stake in Canadian uranium project

Cosmos Exploration has announced a conditional agreement to acquire an 80% interest in the Fenix Uranium project in Canada’s Thelon Basin from Northex Capital Partners. Cosmos will have to make an upfront payment of C$50,000 ($36,718) and issue more than two million Cosmos shares, with further investments planned for exploration. Subsequently, Cosmos will gain the earn-in interest by spending C$1m on exploration within three years, followed by additional cash and share payments.

Source: Pharmaceutical Technology

Maximus Resources / Korea lithium joint venture approved

The Australian Foreign Investment Review Board (FIRB) has approved a proposed joint venture (JV) between Maximus Resources and Korea Mine Rehabilitation and Mineral Resources (KOMIR). This paves the way for KOMIR to acquire a 30% stake in the Lefroy Lithium Project in the Eastern Goldfields in Western Australia. The South Korean Government-owned entity and is set to invest A$4.5m ($3m) in lithium exploration to earn its interest in the JV.