The mining industry briefing
The latest news, trends, and data from the mining industry
News in numbers
32%
Fortescue has reported a net profit after tax of $2.8bn for the first half of the 2022 financial year, a decline of 32% versus $4.1bn a year ago
$1.5bn
Glencore plans to set aside $1.5bn to resolve investigations into bribery and corruption at a number of its operations
22
Allied Copper has entered an agreement to acquire the Stateline Property in the US states of Colorado and Utah, which includes 22 unpatented mining claims
$300m
Newmont has signed a $300m agreement with Compañia de Minas Buenaventura to acquire its stake in the Minera Yanacocha gold mine in Peru
15
The US Department of the Interior has announced nearly $725m in funding to clean up abandoned coal mines, part of the 15-year Bipartisan Infrastructure Law
Project updates
Canada’s Orea Mining has agreed to acquire an undivided 100% interest in the Maripa Gold Project, which is located in French Guiana. The project will be acquired from a subsidiary of Canadian gold mining firm Iamgold.
Ivanhoe Mines and commodity firm Gécamines have signed a deal to return the Kipushi mine in the Democratic Republic of the Congo to production. The firms will form a new joint venture to redevelop the Kipushi high-grade, underground zinc-copper mine in the Central African Copper belt.
Mining firm Barrick has commissioned the tailings reprocessing project at the shuttered Golden Sunlight Mine in Jefferson County, in the US state of Montana. Over the next decade, the new project is expected to provide tax revenue worth ‘tens of millions of dollars’ for the state.
Mongoose Mining has signed a deal to acquire the Steele Run copper-cobalt-gold deposit in Nova Scotia, Canada, from Canadian Goldcamps. Located at Mt Thom in Nova Scotia, around 22km east of Truro, the property comprises 29 mineral claims over four contiguous licences.
FURTHER READING
BHP and University of Newcastle extend alliance on green steelmaking
Diversified miner BHP will extend its partnership with the University of Newcastle in Callaghan, Australia, to support research into low-carbon steelmaking. As part of the move, the mining firm has given a further $7m (A$10m) in funding for the university’s Centre for Ironmaking Materials Research.
The expanded research programme will focus on low carbon iron and steelmaking using BHP’s iron ore and metallurgical coal. The research will also focus on the utilisation of hydrogen used in conventional blast furnace ironmaking, and "emerging alternative low-carbon ironmaking technologies".
Source: Mining Technology
