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Peru miner Volcan eyes $200m in further asset sales

Published: 18 Jun 24

Volcan Cia Minera, the Peruvian zinc miner that was recently acquired by Argentine group Integra Capital, said it is pushing ahead with plans to sell non-core assets as it talks with creditors to refinance a pile of debt coming due in the coming years. The company, in which Glencore sold a controlling stake last month, is looking to divest its holding in a Chilean cement maker as well as real estate near the new Peruvian port of Chancay on the Pacific coast, said CEO Luis Fernando Herrera. It has already sold two hydroelectric plants for more than $78-million.

Gemdax co-founder and partner Anish Aggarwal.

Probably more diamond industry uncertainty now than at any other point – Gemdax

Published: 14 Jun 24

While the diamond sector probably has more uncertainty now than at any other point, participants also probably have a bigger opportunity than ever to shape what the future will look like. “One thing's for sure, the way the industry has operated over the last decade is not going to be the way it operates in the next decade.

Bibiani sulphide recovery plant long-lead items expected by mid-August – Asante

Published: 14 Jun 24

Ghana-focused Asante Gold has reported substantial progress at its sulphide recovery plant at the Bibiani gold mine, with the principle long-lead equipment expected to be delivered to site by mid-August. Installation of the sulphide recovery plant is expected to improve gold recovery and have a significant impact on the all in sustaining cost (AISC) per ounce produced and the profit margins at Bibiani. Gold recovery from sulphide ore is expected to increase from 70% to about 92%, the company said.

G7 leaders commit to faster transition from fossil fuels - draft statement

Published: 14 Jun 24

Leaders of the Group of Seven (G7) developed democracies will commit to accelerating their transition away from fossil fuels during this decade, according to a draft of a statement to be issued at the end of their ongoing summit in Italy. "We will transition away from fossil fuels in energy systems in a just, orderly, and equitable manner, accelerating actions in this critical decade, to achieve net-zero by 2050 in keeping with the best available science," says the draft seen by Reuters.

Infinity Lithium advances San José permitting process

Published: 14 Jun 24

ASX-listed Infinity Lithium has reported significant progress at its San José lithium project, in Spain. The company has advanced to the next stage of the direct exploitation concession application (ECA) by lodging key project documentation, including exploitation, rehabilitation and restoration, and environmental impact assessments (EIA). The submission follows the recent confirmation by the regional government of Extremadura’s directorate general of Industry, Energy and Mines regarding the viability of the San José lithium resource.

Arc starts drilling at Botswana project

Published: 14 Jun 24

London-listed Arc announces the start of an exploration drilling programme over the company’s PL135/2017 and PL162/2017 licences at its Virgo project within the highly prospective central structural corridor of the Kalahari Copper Belt (KCB) in Botswana. At the end of May, Arc reported on the results of an “encouraging” induced polarisation survey which confirmed potential drill targets along two distinct trends of high chargeability close to the interpreted redox contact.

US Gold secures key water discharge permit for CK project

Published: 14 Jun 24

Explorer and developer US Gold has received a key permit for the CK project, in Wyoming, further advancing the company’s development efforts. The Wyoming Department of Environmental Quality (WDEQ) on May 31 issued US Gold subsidiary Gold King pollutant discharge elimination system permit, fulfilling a crucial condition linked to the recently granted surface gold mine permit for the project.

BCI sells Iron Valley to MinRes for A$73m

Published: 14 Jun 24

Resources company BCI will sell the Iron Valley iron-ore mine, in the Pilbara, to Polaris Metals, a subsidiary of ASX-listed Mineral Resources (MinRes). Iron Valley is currently operated by MinRes under a royalty-type agreement for the past decade.

Copper360, public markets, TotalEnergies, Air Products deal make headlines

Published: 14 Jun 24

Mining Weekly editor Martin Creamer discusses Copper 360 being on the road to produce quite a bit of cash by financial year end; why the Reserve Bank concern about the decline of public markets is a welcome development; and the 15-year TotalEnergies and Air Products deal.

Webber Wentzel senior associate Francois Sieberhagen

Opinion: Beware, but do not fear!

Published: 14 Jun 24

In this article, Webber Wentzel senior associate Francois Sieberhagen writes about the implications of the Supreme Court of Appeal's (SCA's) judgment in the case of Minister of Mineral Resources and Energy & Three Others vs Sustaining the Wild Coast NPC and Eight Others.