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Aurubis names Toralf Haag as new CEO after board overhaul
Published: 21 Jun 24
Copper producer Aurubis has named Toralf Haag as its new CEO, completing an overhaul of its board in the wake of a giant raw-materials fraud.
Haag will take over from Roland Harings, after the company’s supervisory board terminated his contract early in January, along with two other executive board members. The move followed Aurubis’s decision to carry out an independent legal probe into a criminal scam that cost the copper producer about €169-million ($184-million) last year.
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Global gold mining major highlights academic partnership with South Africa’s Fort Hare
Published: 21 Jun 24
The University of Fort Hare, where the offspring of mineworkers were the first graduates, has agreed a R12.5-million, initial ten-year academic partnership with gold mining major AngloGold Ashanti, which no longer mines in this country and is now domiciled in London. Fort Hare is the university where the globally illustrious Nelson Mandela began his incompleted studies for a Bachelor of Arts degree.
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Fort Hare AngloGold Ashanti Alberto Caderon IMF Orion Minerals Harmony Gold Nelson Mandela
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McEwen advances new mine at Fox Complex
Published: 21 Jun 24
Canada-based McEwen Mining is developing a new mining operation at the Stock property of the Fox Complex, in Timmins, Ontario.
The Stock property, which includes the former Stock mill and mine, has yielded about 137 000 oz of gold from an underground operation between 1989 and 2005.
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WAF draws down $265m loan to build Burkina Faso gold project
Published: 21 Jun 24
ASX-listed unhedged gold mining company West African Resources (WAF) has fully drawn down the $265-million secured loan facility from Sprott Resource Lending and Burkina Faso-based Coris Bank International for the development of the company’s Kiaka gold project, in Burkina Faso, and other corporate purposes.
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China Baowu completes purchases of stake at Simandou project
Published: 21 Jun 24
China Baowu Steel Group has completed its purchase of a stake in the Simandou project in Guinea, as China’s top steelmaker looks to expand its interest in the world’s largest untapped iron ore mine. Baowu bought an undisclosed stake from Winning Consortium Simandou, which owns the two northern blocks of the project, the Chinese steel mill said in a statement on Thursday. The consortium that sold the stake comprises Singapore’s Winning International Group and aluminum maker China Hongqiao Group.
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Orion, Thungela, Richards Bay Minerals make headlines
Published: 21 Jun 24
Mining Weekly Editor Martin Creamer discusses South Africa becoming one of the world’s most compelling short-term investment stories, which is good news for Orion Minerals; Thungela Resources being poised to spend R3.9-billion worth of capital in South Africa going forward; and Richards Bay Minerals looking to on-site renewables, storage & aggregation.
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