Commodity 2
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September 20, 2024
Commodity
September 19, 2024
After Tax NPV5% of US$111 Million at US$2,100/oz Au price After Tax NPV5% of US$153 Million at Spot prices 1 Average annual production targeted at approx. 56,000 Gold Equivalent Ounces ("GEO") 2 Life of Mine Average annual
QUITO, Ecuador, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Solaris Resources Inc . (TSX: SLS; NYSE: SLSR) (“Solaris” or the “Company”) is pleased to report assay results from its ongoing 60,000m 2024 drilling program that aims to target open extensions of m
Highlights: First assays from Long Pocket infill drilling return strong uranium mineralisation at shallow depths. Significant intersections include: LP24RC004 – 10m @ 606ppm U 3 O 8 from 6m depth, including 2m @ 1,726ppm U 3 O 8 from
Vancouver, British Columbia--(Newsfile Corp. - September 19, 2024) - Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) ("Minaurum" or "the Company") is pleased to announce the results of the first 5 holes of the 2024 drill program to establish
September 12, 2024
Sudbury, Ontario--(Newsfile Corp. - September 12, 2024) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to announce that it has entered into a definitive share purchase agreement dated September 11 th 2024 (the "Agreement") with a subsidiary of KGHM International Ltd. ("KGHM") to acquire a portfolio of base metals assets located in the Sudbury Basin (the "Transaction"). Magna will acquire the producing McCreedy West copper mine ("McCreedy West"), the past-producing Levack mine ("Levack"), Podolsky mine ("Podolsky") and Kirkwood mine ("Kirkwood") as well as the Falconbridge Footwall (81.41%), Northwest Foy (81.41%), North Range and Rand exploration assets (together, the "Sale Assets"). Transaction Highlights Purchase Price: C$5.3 mill
September 12, 2024 (Source: CIMMagazine) The Selkirk First Nation’s offer could lead to the first Indigenous-owned mine in Canada The Yukon Supreme Court has authorized an initial transaction that would allow the Selkirk First Nation (SFN) to assume control of the abandone d Minto copper-gold mine and its assets, which includes a mill , a water treatment building and some equipment . The price of the offer has been sealed by the court. The court also granted exclusivity for SFN to negotiate intangible assets such as mineral claims, licences and permits for the second transaction. The Minto mine , previously owned by Minto Metals Corp., is located 250 kilometres north of Whitehorse, within SFN ’ s traditional territor
September 5, 2024
September 05, 2024 04:46 PM Eastern Daylight Time CLEVELAND--( BUSINESS WIRE )--Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) applauded the reported decision by President Biden to officially block the foreign takeover of U.S. Steel by Japan’s Nippon Steel. The Company provided the following statement from its Chairman, President and CEO, Lourenco Goncalves: “We commend President Biden and the U.S. government for its reported decision to block foreign ownership of U.S. Steel by Japan’s Nippon Steel. The American steel industry plays a crucial role in safeguarding our national security. President Biden’s courageous move affirms our view that our industry is best served by American companies that are committed to the long-term prosperity of domestic manufacturing, supported by good p
September 4, 2024
September 4, 2024 (Source: INN) Chilean state-run copper giant Codelco has made a US$500 million bid to acquire a 10 percent stake in the Quebrada Blanca mine, operated by Teck Resources ( TSX : TECK.A ,TSX:TECK.B,NYSE:TECK). According to a Tuesday (September 3) Bloomberg report , the offer, directed to fellow state entity Empresa Nacional de Minería (Enami), is currently under consideration by Enami's board. The move is part of Codelco’s strategy to sustain its position as the world’s leading copper supplier amid declining production levels. Enami’s stake in Quebrada Blanca represents a carried interest, meaning the firm isn't responsible for the mine’s capital expenditures. The sale, if approved, would provide Enami with funds to address financial challenges
August 29, 2024
August 29, 2024 (Source: South32 Limited) South32 Limited (ASX / LSE / JSE: S32; ADR: SOUHY) (South32) is pleased to announce that the sale of Illawarra Metallurgical Coal to an entity owned by Golden Energy and Resources Pte Ltd and M Resources Pty Ltd was successfully completed on 29 August 2024. About us South32 is a globally diversified mining and metals company. Our purpose is to make a difference by developing natural resources, improving people’s lives now and for generations to come. We are trusted by our owners and partners to realise the potential of their resources. We produce commodities including bauxite, alumina, aluminium, copper, zinc, lead, silver, nickel and manganese from our operations in Australia, Southern Africa and South America. We also have a portfolio
August 22, 2024
August 22, 2024 (Australian Mining) - Whitehaven Coal is entering binding agreements with Nippon Steel Corporation and JFE Steel Corporation for the sale of a 30 per cent joint venture interest in the Blackwater coal mine in Queensland. The agreements, which amount to $US1.08 billion ($1.6 billion), will see Nippon Steel acquire a 20 per cent stake and JFE Steel a 10 per cent stake, with the transactions expected to be completed in early 2025, subject to regulatory approvals. One of Australia’s largest coal operations, the Blackwater mine is a crucial supplier of metallurgical coal to Asian markets. The $1.6 billion of proceeds will strengthen Whitehaven’s balance sheet, with the payment to be made upfront upon completion, immediately enhancing the company’s financial flexibility a
August 21, 2024
August 21, 2024 (Source: Arch Resources, Inc.) Brings Together Two Best-in-Sector Operating Platforms with a World-Class Portfolio of High-Quality, Low-Cost, Long-Lived Longwall Coal Mining Assets and Strong Distribution Networks Creates Diversified Coal Producer Serving Global Steel, Industrial, and Power Generation Customers with ~12 Mtpa of Metallurgical Grade Coals and More than 25 Mtpa of High Calorific Value Thermal Coal Creates a Leading North American Coal Export Business with ~25 Mtpa of Export Capacity via Ownership Interests in Two East Coast Terminals as well as Strategic Access to West Coast and Gulf of Mexico Ports Expected to Generate Substantial Free Cash Flow to Fuel Robust Capital Returns to Core Natural Resources’ Stockholders, Supported by a Strong Balance Sheet an
August 21, 2024 (Mining Review Africa) - Perseus Mining has announced that on 20 August 2024, it has entered into an agreement with BMO Nesbitt Burns Inc. (BMO), pursuant to which Perseus agreed to sell 33,000,000 common shares in the capital of TSX-V listed gold explorer and aspiring developer Montage Gold Corp. to BMO at a price of C$1.86 per common share. The Montage Share Sale was executed by way of a bought deal to realise net proceeds of US$45.0 million. Perseus acquired the shares in Montage when it acquired Orca Gold in May 2022. Orca’s principal asset was a 70% interest in the Block 14 Gold Project (since renamed Meyas Sands Gold Project) in Sudan and the shareholding in Montage was considered by Perseus Mining to be non-core. Immediately prior to en
August 16, 2024
August 16, 2024 (Australian Mining) - Mining and civil infrastructure services company Macmahon has completed its acquisition of construction engineering group Decmil. Macmahon will operate Decmil as a wholly owned subsidiary and intends to maintain the existing Decmil branding, with the Macmahon civil business to integrate into the subsidiary. Decmil will also continue to be led by its current chief executive officer Rod Heale. Macmahon managing director and chief executive officer Michael Finnegan welcomed the completion of the acquisition. “The acquisition of Decmil is aligned with Macmahon’s strategic focus to diversify earnings, reduce capital intensity and improve return on average capital employed,” Finnegan said . “Decmil provides an established, scalable foundation to
August 1, 2024
August 1, 2024 (Source: Polymetals Resources Ltd) Polymetals Resources Ltd (ASX: POL) (Polymetals or the Company) is pleased to announce that it has now finalised its acquisition of the Endeavor Silver, Lead and Zinc mine, located 40km north of Cobar, NSW. HIGHLIGHTS • Polymetals takes 100% ownership of the Endeavor Silver, Lead and Zinc underground Mine, 1,100km2 of tenements, a 1.2Mtpa processing plant and significant supporting infrastructure. • Polymetals is now able to progress surface and underground refurbishment works and is on track for first concentrate production during H1 2025. • One million shares issued to vendor as a final payment for the acquisition. Acquisition of the Endeavor Mine has been completed with the transfer of 100% of the shares held by CBH Resourc