Rio Tinto trials new technology for low-carbon steel

Anglo-Australian mining firm Rio Tinto has started testing a new technology, which would deliver low-carbon steel utilising biomass, in a small-scale pilot plant.

Developed by the miner over the past decade, the process replaces the use of coking coal with plant matter, known as lignocellulosic biomass, as a chemical reductant in the steelmaking process.

Rio Tinto expects the technology to have the potential to be scaled commercially over time to process its iron ore fines. This would be subject to the success of current trials and larger-scale tests.

Rio Tinto iron ore CEO Simon Trott said: “We are encouraged by early testing results of this new process, which could provide a cost-efficient way to produce low-carbon steel from our Pilbara iron ore.

“More than 70% of Rio Tinto’s Scope Three emissions are generated as customers process our iron ore into steel, which is critical for urbanisation and infrastructure development as the world’s economies decarbonise.”

Glencore to sell Bolivia zinc assets to Santa Cruz Silver Mining for $110m

Glencore has agreed to divest its zinc business in Bolivia to Canada’s Santa Cruz Silver Mining in a deal worth about $110m.

Santa Cruz Silver Mining will buy the Glencore holding companies that own the Bolivia zinc assets.

The assets include Glencore’s 45% stake in Sociedad Minera Illapa, which is controlled by the state-owned Corporación Minera de Bolivia.

Glencore’s Bolivia unit also holds a 100% stake in Sinchi Wayra, which owns the Tres Amigos, Reserva and Colquechaquita mines.

Upon completion of the deal, Glencore intends to sign net smelter royalty agreements with Santa Cruz, each at 1.5%, with regard to the Bolivian mining business.

This is expected to provide continued life of mine payments based on the performance of the relevant mines, Glencore said.

Additionally, Glencore will hold offtake rights pertaining to the production of the relevant mines during their operational life.

Zijin Mining signs $770m deal to buy Neo Lithium

China’s Zijin Mining Group has agreed to acquire Canada’s Neo Lithium in a deal worth around $770m (C$960m).

The deal will see Zijin offering $5.2 (C$6.50) in cash for each Neo Lithium share. On top of this, Zijin has the right to match any competing offer that would constitute a superior proposal.

The transaction has already secured approval from Neo Lithium’s board and currently awaits shareholder and regulatory clearance.

Neo Lithium owns a 100% interest in the Tres Quebradas (3Q) high-grade lithium brine project located in Argentina’s largest lithium producing area, Catamarca Province.

The project comprises a salar complex and 160km² brine reservoir comprising three large areas of open brine and brine lakes.

Neo Lithium president and CEO Waldo A Perez said: “This is the result of the collective work of our premier lithium brine exploration team, starting from initial discovery in late 2015 to defining one of the largest and highest-grade lithium brine deposits in the world, and culminating in this premium offer in just six years.”

Britishvolt becomes Fair Cobalt Alliance member

UK-based battery manufacturing company Britishvolt has announced that it has joined the Fair Cobalt Alliance (FCA).

The FCA is a multistakeholder organisation that seeks to develop a fair artisanal mining cobalt supply sector in the Democratic Republic of the Congo (DRC).

Additionally, FCA works to end child labour and advocates a transparent remuneration scheme in cobalt mining.
Tesla, Glencore and The Impact Facility have already joined the organisation.

Britishvolt ESG head Craig Woodburn said: “This is a great initiative to be part of. Britishvolt has a very clear and defined ambition to create one of the best-in-class ESG frameworks. By joining the FCA we are aiming to reduce environmental impact, improve working conditions for miners and support action that redirect children to school and education in the DRC.

“Britishvolt believes that it’s the responsibility of the entire battery industry, including manufacturers, to ensure that everyone involved is treated with respect and given the right opportunities. Collaboration is of vital importance to ensure success for all.”

Leviathan Gold commences drilling at historic mine within Timor property

Leviathan Gold has commenced drilling at a historic mine within its Timor property in Victoria, Australia.
The initial phase at the Leviathan Mine is expected to include at least 3,000m of diamond drilling. It will target strike and depth projections of known high-grade gold mineralisation in underground mine workings abandoned in 1905.

An assessment of mining records, site plans and new fieldwork indicate that gold mineralisation at the mine is open along strike and at depth. This offers clear drill targets immediately beneath abandoned mine workings, including unexploited areas.

According to records, Leviathan Mine’s historic production stood at 181,000t for 67,511oz of gold at a grade of 11.4g/t Au.

Leviathan Gold owns the Avoca and Timor projects in Victoria, around 180km north-west of Melbourne. The projects include 223km² of exploration tenements within the goldfields.

Leviathan Gold CEO Luke Norman said: “We are very excited to be commencing drilling works at the old Leviathan Mine, our namesake target. Since completing the spin-out our technical and permitting team has been working diligently to gain the necessary permits and access to drill these exciting targets.

“Compilation and review of historic records by Leviathan’s geological team, in conjunction with new fieldwork suggest that historic mining ceased at relatively shallow levels, leaving multiple, stacked high-grade ore-shoots open to depth and along strike.

“Our plan is to systematically test these features via modern drilling and assaying techniques, confirming their grades and widths, while at the same time continuing to assemble targeting information on what appear to be further reef occurrences parallel to and along strike from the Leviathan Mine.”

Hyperion releases maiden resource estimate for Titan Project in US

Hyperion Metals has released the maiden mineral resource estimate (MRE) for the Titan Project in Tennessee, US. The estimate establishes the site as one of the largest titanium, zircon and rare earth minerals projects in the country.

According to the company, the MRE includes a total mineral resource of 431 million tonnes (Mt) at 2.2% total heavy minerals (THM), containing 9.5Mt of THM at a 0.4% cut-off with 241Mt classified in the indicated resource category.

The resource estimate included a high-grade core of 195Mt at 3.7% THM, containing 7.1Mt of THM.
Hyperion managing director and CEO Anastasios (Taso) Arima said: “Hyperion’s mission is to sustainably re-shore the production of American critical minerals and metals, and this maiden MRE is a crucial step towards this goal.

“The maiden MRE has immediately established the Titan Project as a major, untapped potential source of critical minerals rich in titanium, zircon and heavy and light rare earths. The combination of scale and grade of these high value, critical minerals – in a low risk, low cost and low tax jurisdiction – has the potential to drive significant value creation.”

The MRE is the first mineral resource reported in accordance with the Joint Ore Reserves Committee (JORC) Code (2012) within the McNairy Sand in Tennessee.