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American Pacific starts drilling at Palmer project

Published: 20 Jun 24

US-focused exploration and development company American Pacific Mining has initiated a diamond drill programme at the high-grade Palmer copper/zinc VMS project in Alaska, with joint venture (JV) partner Dowa Metals and Mining Alaska. “We are excited to begin this year’s drill program at Palmer,” commented CEO Warwick Smith.

K92 closes and upsizes Trafigura loan

Published: 20 Jun 24

Gold miner K92 Mining has announced two new credit facilities with Trafigura to replace a previous loan, upsizing its facility from $100-million to $120-million. Under an accordion feature, the company, which operates the Kainatu gold mine, in Papua New Guinea, can increase the aggregate amount to $150-million.

Sienna acquires new gold project in Saskatchewan

Published: 20 Jun 24

TSX-V-listed Sienna Resources has announced the acquisition of the Stonesthrow gold project, in Saskatchewan. The new project directly borders the Ramp Metals discovery, where multiple zones of gold mineralisation were recently announced, including 73.55 g/t gold and 19.5 g/t silver.

Agnico unveils Detour Lake's pathway to 1Moz/y

Published: 20 Jun 24

Canadian mining company Agnico Eagle Mines has unveiled an ambitious plan to boost production at its Detour Lake mine, in Ontario, to an average of one-million ounces a year over a 14-year period, starting in 2030. This increase is outlined in the New York- and Toronto-listed company’s newly released 2024 life-of-mine plan (LOMP), which includes both updated mineral reserve and resource estimates and a preliminary economic assessment (PEA) for concurrent openpit and proposed underground operations.

New wagons being built for use on the Lobito railway corridor

South African manufacturer to provide 275 new container wagons to Lobito railway project

Published: 19 Jun 24

Joint venture (JV) company Lobito Atlantic Railway (LAR), which is the concession holder for the operation, management and maintenance of the Lobito Corridor spanning Zambia, Angola and the Democratic Republic of Congo (DRC), has placed an order for 275 new container wagons from South African company Galison Manufacturing for an undisclosed sum. The container wagons will be delivered in three tranches, with the first wagons due to arrive in Lobito from the fourth quarter. They will be able to carry 10 ft, 20 ft and 40 ft long containers, providing flexibility in terms of the kinds of loads to be transported.

South Africa now a compelling world investment story, upbeat Orion highlights

Published: 19 Jun 24

“The sun is finally shining on us,” an upbeat Orion Minerals CEO Errol Smart enthused during an Australia/South Africa webinar on Wednesday, when he outlined how South Africa has become one of the world’s most compelling short-term investment stories. Predicting that this country's investment narrative would super heat over the next couple of weeks, he pointed out how strongly this was advancing Orion’s Prieska copper project, where trial mining has been under way for some time, as well as Orion's high-grade Okiep copper project, which is following closely behind.

Aton further develops Abu Marawat gold concession with promising results

Published: 19 Jun 24

TSX-V-listed gold exploration and mining company Aton Resources has recently carried out further sampling and mapping programmes over several regional targets at the company’s Abu Marawat Concession-retained exploration areas in the Eastern Desert of Egypt. This ongoing exploration programme has so far resulted in 258 selective grab and non-selective surface channel collected from the Black Gaharish, Bohlog, Kab Amira, Semna and Zeno prospect areas within the concession.

De Beers opens entries for this year’s Shining Light Awards

Published: 19 Jun 24

Diamond Miner De Beers has announced that entries for the 2024 Shining Light Awards (SLA) jewellery design competition are officially open. The competition falls under the De Beers Group Designers Initiative (DBGDI), a youth beneficiation skills development initiative aimed at inspiring, igniting and enabling young jewellers with “world-class” jewellery design and manufacturing skills in each of the De Beers Group diamond-producing countries – Botswana, Canada, Namibia and South Africa.

New Red 5 leadership takes office

Published: 19 Jun 24

Following its merger with Silver Lake, ASX-listed Red 5 on Wednesday implemented key changes to the executive leadership team and its board. Mining engineer Luke Tonkin, previously MD and CEO of Silver Lake, has been appointed new MD and CEO of Red 5.

Diamcor seeks to extend closing of second tranche of revised private placement

Published: 19 Jun 24

Diamond mining company Diamcor Mining is seeking to extend the closing of the second tranche of its non-brokered revised private placement following its announcement on June 4 that it had closed the first tranche. The company previously indicated that the original offering, announced on May 1, would be oversubscribed. Diamcor is therefore seeking additional time to accommodate and finalise the documentation and related required items for several additional interested investors.