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Fraud cops investigating ex-Glencore staff plan to press charges

Published: 18 Jun 24

British prosecutors investigating former Glencore employees over bribery allegations said they plan to bring long-awaited criminal charges. More than 18 months after first revealing that as many as 11 ex-staffers were under investigation, the Serious Fraud Office told a London judge on Monday that it had sought government approval to charge individuals. It’s the first time the agency has committed to press individual criminal convictions following Glencore’s own guilty plea in 2022.

Orano at risk of losing Niger uranium mine sought by Russia

Published: 18 Jun 24

Orano could lose the right to mine uranium at one of the largest deposits in the world by June 19 after Niger rejected the French nuclear company’s plan for developing the asset. The move comes as Russia’s seeks to take over mining assets in the West African country controlled by the French company, Bloomberg reported on June 3. Niger’s Paris-allied president was overthrown in a coup last July, the latest in a string of military takeovers in the region that has seen strongmen spurn ex-colonial power France and forge closer ties with Moscow.

Bill Gates says he's ready to put billions into nuclear power

Published: 18 Jun 24

Bill Gates said he’s prepared to plow billions of dollars into a next-generation nuclear power plant project in Wyoming to meet growing US power needs. TerraPower, a startup founded by Gates, broke ground for construction of its first commercial reactor last week in Wyoming, where a coal plant is shutting down, the billionaire co-founder of Microsoft Corp. said on CBS’s Face the Nation. TerraPower has explored simpler, cheaper reactors since 2008 and expects to complete the new reactor in 2030.

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.