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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.

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.

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.

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.