Новости за 05.07.2022

Copper fell to the lowest level in 17 months, with metals extending losses as global recession fears continue to damp the demand outlook for commodities. Sentiment remains sour for the industrial materials used in everything from construction to new energy vehicles. Copper, widely considered an economic bellwether, is trading solidly below $8 000/t, after metals posted their worst quarterly slump since the 2008 financial crisis.

The Phase 1 and 2 concentrator plants at the Kamoa-Kakula mine, in the Democratic Republic of Congo, produced 30 379 t of copper in concentrate in June – the third consecutive month that the mine has surpassed its 7.6-million-tonne-a-year throughput design capacity. It also contributed to another quarterly production record of 87 314 t of copper-in-concentrate produced for the second quarter.

NYSE-listed Hecla Mining on Tuesday announced the acquisition of NYSE American- and TSX-listed Alexco Resources in a transaction that will make the company not only the biggest silver producer in the US, but also in Canada. Each outstanding common share of Alexco will be exchanged for 0.116 of a share of Hecla common stock implying consideration of $0.47 for each Alexco share and a premium of 23% based on the companies’ five-day volume weighted average price.

Canadian multinational miner Wheaton Precious Metals has entered into a definitive agreement with NYSE-listed silver producer Hecla Mining Company to terminate its silver stream on fellow-listed Alexco Resource Corporation’s Keno Hill silver district, in Yukon, Canada, for $135-million. "The termination of the Keno Hill stream further demonstrates our ability to strategically identify opportunities both inside and outside of our portfolio that create value for our shareholders and positions Wheaton... Читать дальше...

Aim-listed Edenville Energy, operator of the Rukwa coal project, in Tanzania, has announced the restructuring of its board as the company plans to expand the project to benefit from the increased demand and pricing for coal, together with exploring other opportunities to broaden the company’s operations. Alistair Muir and Jeff Malaihollo have stepped down with immediate effect from their roles as CEO and nonexecutive chairperson, respectively.

A temporary administrator appointed by a Congolese court to run the world's second-largest cobalt mine ordered majority owner CMOC to suspend marketing and export of its production, letters seen by Reuters showed. CMOC, which has previously said that Tenke Fungurume Mining (TFM) remains under its management, did not immediately reply to a request for comment on the letters dated June 29 and July 1.

In an effort to ensure constant connection between power cables, the relevant equipment and electricity, high voltage cable coupler manufacturer KonNx designs, manufactures and distributes high and low voltage cable couplers and connectors for use in heavy industrial applications (such as opencast/underground mining and tunneling). The name, the company explains, is a reference to the word “connection”, which is ultimately what the company’s products do – they connect power cables and electricity.

A hunt by Europe’s coal consumers to replace Russian cargoes with shipments from across the globe has boosted imports to a key hub by more than a third, helping to fill severely depleted stockpiles. Coal poured into the Antwerp-Rotterdam-Amsterdam region -- a huge transport hub for energy and commodities -- in the first half of this year, with imports surging 35% to 26.9-million tons compared with the same period last year, according to Kpler.

Embattled miner Nevada Copper on Monday announced nonbinding terms with its senior lender, KfW IPEX-Bank, and its biggest shareholder, Pala Investments, for a loan of up to $70-million. The copper producer, which at the weekend suspended mining activities at Pumpkin Hollow, reported that the lenders would commit to advance $50-million and that $20-million would be available for future draw on an uncommitted basis. Nevada Copper said it aimed to execute binding agreements during the month of July.

Billionaire Vladimir Potanin, the biggest investor in MMC Norilsk Nickel, said he’s ready to discuss merging the mining giant with United Co Rusal International as sanctions against Russia weigh on both companies. Potanin has headed Nornickel since striking a 2012 shareholder accord with aluminum producer Rusal, the company’s second-largest investor. A merger would create a “national champion,” the tycoon said in an interview with Russia’s RBC TV channel.

South Africa has failed to clean up and secure hundreds of abandoned coal mines that now pose a deadly threat to nearby communities, according to Human Rights Watch. There are more than 400 empty coal mines across the nation, which exports the fossil fuel and uses it to generate about 80% of its electricity. The sites threaten to pollute rivers and land by leaching acidic water, while posing a safety risk as access isn’t secured, the group wrote in a report published Tuesday.

The Supreme Court of Justice has formally notified the Mexico Economy Ministry (Economia) of its April decision declaring TSX- and NYSE American-listed Almaden Minerals’ titles relating to the Ixtaca project “ineffective”. However, the mineral title applications were filed in conformity with legislation. Almaden says that it understands this to mean that the mineral title has reverted to the application status until such time as Economia completes its court-ordered indigenous consultation in the area covered by the mineral title applications.

Donald Tremblay, a former CFO of Rio Tinto’s Iron Ore Company of Canada (IOCC) has been appointed CFO at Champion Iron. “We are thrilled to welcome Donald Tremblay to our executive team,” stated Champion CEO David Cataford. “His expertise in the mining sector and experience as an executive of senior public companies will be an asset for our company, as we evaluate our many organic growth projects to further decarbonize the steel industry.”

Chile’s Constitutional Convention presented the final version of the charter that will be put to a referendum as a growing number of voters question the broad changes it would enact from social rights to political rules. The institution’s leadership handed the draft to President Gabriel Boric at a closing ceremony on Monday in Santiago. On September 4, Chileans will decide whether to approve the new magna carta or stick with the current document implemented during the 1973-1990 military dictatorship.

Coal miner Whitehaven Coal is facing a legal challenge to the State Significant Development Consent for the Narrabri Stage 3 extension project, in New South Wales, which was granted by the state’s Independent Planning Commission (IPC) in April this year. The proposed extension would extend the life of the Narrabri underground mine from 2031 to 2044, with coal mining to move to the south of the existing mine. The project is expected to deliver someA$59-million in additional net economic benefits to New South Wales... Читать дальше...

ASX-listed Greenland Minerals (GGG) has secured litigation funding from Woolridge Investments, a wholly-owned subsidiary of Burford Capital, to fully fund the arbitration costs in the dispute with the government of Greenland and the government of the Kingdom of Denmark. GGG earlier this year launched arbitration proceedings in its dispute over the future of its Kvanefjeld rare earths project after the Greenland government in November banned uranium mining, impacting the development of the Kvanefjeld project.

Company tax and royalty payments from the Australian resources sectors reached a record A$43.2-billion in the 2020-21 financial year, up 16% on the previous financial year. A report released by advisory firm Ernst & Young, commissioned by the Minerals Council of Australia, revealed that company taxes paid reached a new record high of A$26.5-billion and royalties also reached a high of A$16.7-billion in 2020-21 contributing significantly to federal, state and territory governments at a time when... Читать дальше...