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Troilus advances project financing with LoIs from European export credit agencies

Published: 20 Nov 24

Toronto-listed Troilus Gold is making progress with its project financing strategy, announcing two letters of intent (LoI) from leading European export credit agencies. Finnvera, the export credit agency of Finland, has confirmed in-principle eligibility for an untied loan guarantee of up to $300-million to support the financing of the Troilus copper/gold project in Quebec, while the Swedish Export Credit Agency (EKN) has provided an LoI for $200-million.

Electra secures 10-year exploration permit for Idaho copper/cobalt properties

Published: 20 Nov 24

Nasdaq- and TSX-V-listed Electra Battery Materials has secured a ten-year exploration permit for its Idaho copper and cobalt properties, including its Iron Creek project, in the Idaho Cobalt Belt, US. Covering 91 designated drill pad locations and hundreds of potential drill targets, this long-term permit enhances project certainty, offers greater planning flexibility, and significantly reduces administrative requirements compared to yearly permits.

Zimbabwe power tariff hike sparks 3 000 MW of energy investments

Published: 20 Nov 24

Zimbabwe’s decision to adopt tariffs that reflect costs has sparked a wave of investments in the energy sector that will help ease its power crisis. Since the switch in December last year, energy investments have sharply increased with 3 000 MW of projects currently under development, according to Zimbabwe Electricity Supply Authority chairperson Sydney Gata.

Peru copper output edges down 1% in September

Published: 20 Nov 24

Peru's copper production fell 1.2% in September compared to the same month last year to settle at 232 423 metric tons, data from the ministry of energy and mines showed on Tuesday. Peru is one of the world's largest suppliers of the industrial metal, and copper is a key national industry that churned out 2.76-million tons last year.

Rio Tinto report shows bullying remains rife with women targeted

Published: 20 Nov 24

A new report by Rio Tinto Group showed 39% of workers surveyed by the world’s second-biggest miner had experienced bullying within a 12-month period, up from 31% in 2021. Two years after Rio Tinto pledged to address toxic cultures that were deterring females and non-Whites from the mining industry, details from a survey of more than 10 000 employees have laid bare the challenges it still faces. The rates of sexual harassment and racism that respondents reported were unchanged from three years ago, affecting 7% of those surveyed from workers in nations including Australia, US, Canada, Mongolia and New Zealand.

Aurora turns its focus to Australia as it options Oregon project

Published: 19 Nov 24

Australia’s Aurora Energy Metals is shifting its focus to a local jurisdiction with an option agreement to put its namesake project in Oregon into a US domiciled company, while broadening its asset portfolio in Western Australia. The company on Tuesday announced it had granted US company Eagle Energy Metals, led by Mark Mukhij, an option to acquire its Aurora uranium project.

Summit underscores importance of just energy transition, C&I industry

Published: 19 Nov 24

It is imperative that South Africa and industry decarbonises and, with the transition towards more sustainable forms of energy already occurring, stakeholders should focus on how the transition is implemented in a just manner at the pace that is required, and the steps and strategies this would entail. This was highlighted by Seriti Resources Group CEO Mike Teke, delivering the keynote address during the first day of the C&I Solar+Storage Summit, being held this week in Sandton.

Marula outlines testwork, trials to follow on Kinusi copper material

Published: 19 Nov 24

Battery metals miner Marula Mining has received all necessary export permit and approvals in Tanzania to ship 10 kg of copper ore samples to South Africa for metallurgical testwork and assays. The samples were garnered from the Kinusi No. 4 openpit at the Kinusi copper mine, in Tanzania.

Mitsui said to be highest bidder for First Quantum's stake in Zambia mines

Published: 19 Nov 24

Japanese trading house Mitsui & Co. has emerged as the highest bidder for a stake in First Quantum Minerals’ Zambian copper mines, according to people familiar with the matter. Mitsui submitted an offer that’s higher than a rival proposal from Saudi Arabia’s state-backed Manara Minerals Investment Co, the people said, asking not to be identified because the information is private. The Japanese company is considering buying a roughly 20% interest in First Quantum’s Sentinel and Kansanshi mines for about $2-billion, according to the people.

Long-standing Ramelius COO steps down

Published: 19 Nov 24

Gold miner Ramelius Resources on Tuesday announced the resignation of long-standing COO Duncan Coutts, who would leave the company in early December to pursue other opportunities. MD Mark Zeptner said Coutts had played a key role in the operational performance and growth of the company over the past nearly nine years.