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Alaska Natives sue EPA over Pebble mine veto, Northern Dynasty says
Published: 27 Jun 24
Northern Dynasty Minerals said on Wednesday two Alaska native village corporations had sued the Environmental Protection Agency (EPA) for its veto against the Canadian miner's proposed Pebble mine in the state's southwest region.
Iliamna Natives Limited and Alaska Peninsula Corporation, which represent the communities closest to the copper and gold mining project, sued the EPA for exceeding its authority related to the veto, Northern Dynasty said in a statement.
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Eskay and P2Gold terminate business combination
Published: 27 Jun 24
Canadian juniors Eskay Mining and P2Gold have announced that they would terminate their proposed business combination transaction, citing market conditions.
The companies earlier this month announced a nonbinding letter of intent to create a gold and copper explorer focused on the Golden Triangle of British Columbia and Nevada.
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First phase of 1 GW SunCentral solar farm breaks ground
Published: 27 Jun 24
Independent power producer SolarAfrica Energy has officially broken ground on its first utility-scale solar farm in the Northern Cape. Known as SunCentral, Phase 1 of this project will total about 342 MW in generation capacity, with Phases 2 and 3 to raise the capacity to 1 GW, making it one of the largest projects of its kind in the country.
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South Africa's FDI inflows pick up in first quarter - central bank
Published: 27 Jun 24
South Africa recorded foreign direct investment inflows of R24.4-billion in the first quarter of 2024, up from a revised R2.5-billion in the previous quarter, central bank data showed on Thursday. The South African Reserve Bank said in its Quarterly Bulletin that the inflows were largely due to the acquisition of a local vehicle-tracking company by an overseas firm, without naming the company that was bought. Portfolio investments recorded outflows for the seventh consecutive quarter of R52-billion in the first three months of 2024, compared to outflows of R9-billion in the fourth quarter of 2023. The portfolio outflows reflected the disposal by non-residents of R24.2-billion of domestic equities and R27.8-billion of domestic debt securities. "The outflow recorded for debt securities in the first quarter of 2024 could mainly be attributed to the maturity of a $1.5-billion international bond of national government," the Reserve Bank said.
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S Africa consumer confidence recovers in Q2, survey shows
Published: 27 Jun 24
South Africa's consumer confidence improved slightly in the second quarter due to fewer hours of loadshedding and a drop in fuel and food prices, but uncertainty around national elections kept some consumers worried, data released on Thursday showed. The consumer confidence index (CCI), sponsored by First National Bank (FNB) and compiled by the Bureau for Economic Research (BER), improved to minus 12 points in the quarter, from minus 15 points in the first quarter.
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Akobo completes processing plant, starts commissioning in Ethiopia
Published: 27 Jun 24
Scandinavia-based gold exploration and mining company Akobo Minerals has successfully completed the construction of its processing plant and has started commissioning activities at its operation in Ethiopia. The company currently holds an extensive exploration licence encompassing 182 km2 and a 16 km2 mining licence with an active mining operation in the Gambela region and Dima Woreda, Ethiopia.
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Vedanta in talks with IHC unit, investors for Zambian copper stake sale
Published: 27 Jun 24
International Resources Holding (IRH), the mining investment arm of United Arab Emirates' richest company, is among investors holding talks on buying into Vedanta Resources' Zambian copper assets, a senior Vedanta executive told Reuters. IRH, a unit of Abu Dhabi's International Holding Company which holds about $244-billion in assets, is interested in acquiring a stake in Konkola Copper Mines (KCM) and is conducting due diligence on the assets, Chris Griffith, Vedanta's chief executive for base metals, said.
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Namibia to build second desalination plant in January
Published: 27 Jun 24
Drought-prone Namibia, currently facing its worst drought in over a century, will start constructing its long-awaited second desalination plant in January 2025, the minister of agriculture said on Wednesday. Approval for a second desalination plant with a capacity of about 20 million cubic metres has been granted, and the plant is expected to be commissioned by early 2027, said Calle Schlettwein, minister of agriculture, water and land reform.
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Australia's Tamboran Resources raises $75m in New York listing
Published: 27 Jun 24
Australia's Tamboran Resources has priced its shares at $24 each to raise $75-million in its New York listing, according to the company's filings on Thursday.
The company sold 3.125-million shares in the deal that was priced at the bottom end of the $24 to $27 per share price range flagged when the deal launched last week.
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Freeport Indonesia launches $3.7bn Gresik copper smelter
Published: 27 Jun 24
Copper and gold miner Freeport Indonesia on Thursday launched its $3.7-billion copper smelter in Gresik, East Java, that has a total input capacity of 1.7-million metric tons of copper concentrate.
The smelter's output capacity will reach around 650 000 t of copper cathode and 50 t to 60 t of gold, said Tony Wenas, CEO of Freeport Indonesia, majority owned by the Indonesian government but operated by US mining giant Freeport McMoran.
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