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Interim study confirms Phalaborwa project’s viability

Published: 17 Dec 24

The findings of an interim study at miner Rainbow Rare Earths’ Phalaborwa project, in South Africa, has confirmed the project’s viability and “exceptional economics”, despite two years of significant inflationary pressure. The aim of the interim study was to update the economics of the project further to incorporate changes to the primary flowsheet to recover rare earth elements (REE) from the phosphogypsum stacks at Phalaborwa, as well as updating to current market pricing for all key areas of capital and operating costs.

BlueScope, BHP, Rio Tinto to build ESF pilot plant to decarbonise Australian steel industry

Published: 17 Dec 24

The Kwinana Industrial Area, in Western Australia, has been selected as the location for Australia’s largest ironmaking electric smelting furnace (ESF) pilot plant. The project combines the expertise of manufacturer BlueScope and diversified miners BHP and Rio Tinto to test technology to enable the use of the Pilbara iron-ore to produce iron without the need for traditional blast furnaces using direct reduced iron- (DRI-) ESF technology.

India's gold imports to plunge in December after record November

Published: 17 Dec 24

India's gold imports are poised for a sharp slowdown in December following record purchases in November, in the absence of any major festival and as rebounding prices prompt buyers to delay purchases, trade and government officials said. Lower imports by India, the world's second-biggest consumer of the precious metal, could cap a rally in global prices XAU= that hit a record high in October. The drop in imports could also help India narrow its trade deficit and support the ailing rupee.

Prieska Copper Zinc Mine in South Africa’s prospective Northern Cape.

More indications of quality copper in South Africa’s well-endowed Northern Cape

Published: 17 Dec 24

The final assay results from diamond drill holes completed to test strike and down-dip extensions of the high-grade copper mineralisation at the Flat Mine South deposit, part of the Okiep Copper Project in the Northern Cape, South Africa. The latest results add further momentum to mine development company Orion Mineral’s development strategy for the Okiep Copper Project building on the outstanding outcomes of the recently completed confirmation drilling programme, which has confirmed the geology and endowment of the Flat Mines area.

Metair finalises R278.5m AutoZone acquisition, restructures debt

Published: 17 Dec 24

JSE-listed energy and automotive manufacturing holding company Metair has finalised the acquisition of automotive parts distributor AutoZone for R278.5-million after the remaining conditions precedent were approved and finalised, namely approval from the South African competition authorities, Metair lenders' consent and counterparties to certain AutoZone contracts consenting to the acquisition. Additionally, all regulatory filings from AutoZone's business rescue practitioners have also been made, the company said in a statement on December 17.

GoldHaven to acquire BOA Gold Corp

Published: 17 Dec 24

Canadian junior exploration Company GoldHaven Resources Corp has entered into an amalgamation agreement with BOA Gold Corp, which will result in GoldHaven acquiring BOA and the four high-potential gold and critical mineral properties in Brazil that it owns.

Rugby Resources halts Colombia drill programme to assess impact of regulatory change

Published: 17 Dec 24

TSX-V-listed Rugby Resources has terminated a planned private placement and postponed plans to drill the Cobrasco copper project, in Colombia, in the coming weeks owing to a change to regulations in the South American country that govern drilling activities in forest reserves. Rugby will now assess how to move the project forward under the changed rules.

Interra Copper expands landholding in British Colombia

Published: 17 Dec 24

Copper exploration company Interra Copper Corp has acquired the Stellar property, comprising mineral tenures that cover 5 389 ha of prospective ground within the Bulkley Porphyry Belt in northern British Columbia. "With [this] acquisition and the pending completion of the Stars property acquisition, Interra has assembled a dominant land position in the belt with three properties covering 19 852 ha that will be owned or optioned by the company. We are eagerly awaiting the 2025 exploration season when we plan to advance each of these exciting properties," comments Interra president and CEO Brian Thurston.

Silver Crown Royalties to acquire 15% royalty on PPX's Igor 4 project

Published: 17 Dec 24

Canada-based mining company PPX and royalty company Silver Crown Royalties (SCRi) have entered into a royalty agreement for up to 15% of the cash equivalent of silver produced from PPX’s Igor 4 project, in Peru, for $2.47-million. The first tranche of $1-million will be paid on closing of the agreement, which is expected to occur in early 2025. SCRi will be granted a royalty for 6% of the cash equivalent of silver produced from the project.

First Nation TTN invests in Canada Nickel

Published: 17 Dec 24

First Nation Taykwa Tagamou Nation (TTN) will invest $20-million of its capital in TSX-V-listed Canada Nickel Company for an 8.4% interest in the nickel company. The transaction is aimed at advancing Canada Nickel's flagship Crawford nickel sulphide project, in Ontario, while fostering economic empowerment and long-term collaboration.