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The gold pour will take place at the Fort Knox mill.

First gold pour at Manh Choh scheduled for early next month

Published: 26 Jun 24

The first gold pour for the Manh Choh mine, in Alaska, will take place at the Fort Knox mill facility on July 8, joint venture (JV) partner Contango announced on Tuesday. The event marks a culmination of efforts since the inception of the Manh Choh project, characterised by its high-quality gold deposit and robust operational advancements, said Cantango CEO and president Rick Van Nieuwenhuyse.

McEwen raises $70m for Los Azules copper advancement

Published: 26 Jun 24

Dual-listed McEwen Mining has announced a step forward for its Los Azules copper project with a $70-million financing initiative through its subsidiary, McEwen Copper. The financing, conducted through a nonbrokered private placement, aims to issue up to 2.34-million shares at $30 each.

Vale returns to global debt markets with sale of dollar bonds

Published: 26 Jun 24

Vale, the world’s second largest iron-ore producer, is tapping international bond markets for the first time in a year amid a debt buyback. Vale Overseas, a subsidiary of the Rio de Janeiro-based firm, is selling new dollar notes maturing in 30 years, according to people familiar with the matter. Initial price talks are taking place at a spread of about 250 basis points over similar US Treasuries, said the people, who asked not to be identified because they’re not authorized to speak about it.

Sibanye CEO says may close metals streaming deal in third quarter

Published: 26 Jun 24

Sibanye Stillwater CEO Neal Froneman said on Tuesday it may close a metals streaming, or prepayment, deal to raise the cash it needs to boost its balance sheet in the third quarter. The Johannesburg-based platinum-group metals producer is seeking to raise more than $500-million to shore up its balance after earnings plunged due to a rout in metal prices.

BHP Group's carbon emissions to rise slightly this year

Published: 26 Jun 24

BHP Group's operational carbon emissions are set for a "small increase" this financial year, an executive said on Wednesday, as the miner said its path to net zero would not be linear and requires overcoming growth and technology challenges. The world's biggest listed miner remains on track to reach its target of reducing operational greenhouse gas emissions by at least 30% from financial year 2020 levels by 2030, Vice President for Climate Graham Winkelman told an investor briefing.

Zijin sets its sights on Africa as energy transition drives growth in metals, minerals demand

Published: 25 Jun 24

With the global energy transition driving increased demand for key metals such as copper and cobalt, Zijin Mining Group expects copper demand to grow to 7.2-million tonnes a year in 2030. During a keynote address on the first day of this year’s London Indaba, Zijin deputy president Shaoyang Shen pointed out that Africa is the second largest copper producing continent, with the Democratic Republic of Congo (DRC) and Zambia being among two of the top ten copper producing countries in the world.

Business model of Western mining industry needs new power, London Indaba highlights

Published: 25 Jun 24

New power is needed by the Western mining industry, which is still functioning on a trailing old power business model. This was highlighted at Tuesday’s London Indaba, where a spotlight was shone on the urgent need of Western world mining companies to pay attention to the benefits that could emerge by working with far greater cognisance of the far-reaching strides that have been taken by the Eastern world.

Skeena secures $750m for Eskay Creek project

Published: 25 Jun 24

Dual-listed Skeena Resources on Tuesday announced a financing package totalling $750-million, equivalent to more than C$1-billion, for the development, construction and working capital required for the Eskay Creek gold and silver project, British Columbia. The funding package with Orion Resource Partners significantly derisks the project, as the company progresses Eskay Creek towards production in the first half of 2027.

Global miners to invest for growth, transformation amid financial pressure – PwC

Published: 25 Jun 24

The financial performance of the world’s Top 40 mining companies is under pressure owing to lower commodity prices and rising costs, which has resulted in revenues falling by more than 7% despite increases in the production of key commodities, management consultancy PwC stated in its ‘Global Mine 2024’ report. The latest iteration of the report indicates a continuation of these trends moving forward, marking the first time since 2016 that industry revenues will fall for a second consecutive year.

Exxaro weighing options for Australian coal JV amid Anglo's planned exit

Published: 25 Jun 24

Exxaro Resources is weighing its options for its Australian coal joint venture project with Anglo American following the mining giant's planned exit from the business, an executive said on Tuesday. The South African coal miner and Anglo equally own the Moranbah South metallurgical coal project in Queensland. On May 14, Anglo announced plans to spin off or sell its coal, nickel, diamond and platinum businesses to focus mainly on energy transition metal copper.