Barrick Gold Corp. has revealed that, besides Saudi Arabia, several major mining companies have shown interest in its substantial copper project in Pakistan. The $7 billion Reko Diq project located in Balochistan, a region bordering Afghanistan and Iran, boasts one of the world’s largest copper deposits and has the potential to become a significant source of this essential metal. Barrick...
Three Chinese entities are among the remaining contenders vying to acquire a Botswana copper mine potentially valued at around $2 billion, as disclosed by individuals familiar with the matter. Zijin Mining Group Co., MMG Ltd., and Aluminium Corp. of China, also known as Chinalco, have advanced to the second round of the bidding process for the Khoemacau project, according to...
China’s Zijin Mining Group Co. is actively strategizing to expand its copper mining operations in eastern Serbia, driven by the surging demand for this critical metal in the context of the global energy transition. This expansion initiative could potentially entail investments reaching billions of dollars. Approximately two years ago, Zijin Mining initiated the Cukaru Peki copper and gold mine with...
Chile’s government is making significant progress in determining which salt flats will be designated for protection and which will be made available for lithium exploration as part of its new national lithium strategy, according to Economy Minister Nicolas Grau. Under the strategy, authorities plan to restrict lithium activities on 30% of the surface area of salt flats in the country’s...
In a significant move towards harnessing the potential of its lithium resources, Ghana’s cabinet has given the green light to a new green-minerals policy. The policy aims to effectively manage the exploitation and production of lithium and marks a crucial step for the nation to tap into the thriving multibillion-dollar global industry. According to Lands and Natural Resources Minister Samuel...
Vale Base Metals (VBM) Ltd. has recently inked deals worth $3.4 billion with two Saudi Arabian-owned entities, marking a significant step towards the development of its base metals operations as an independent entity. The agreement will provide the necessary funding for VBM’s ambitious capital projects, focused on increasing the production of critical minerals essential for the automotive industry’s shift to...
Southern Copper is expressing increasing optimism about the possibility of constructing a highly contested copper mine in Peru’s coastal mountains as sociopolitical tensions appear to be easing. The company has faced challenges for years in convincing local communities of the benefits of the Tia Maria project. In 2019, the approval of its mining license sparked weeks of protests, and former...
Southern Copper Corp. is expressing a newfound sense of optimism regarding its long-fought battle to construct a copper mine in the coastal mountains of Peru. The Tia Maria project has faced vehement opposition from local communities for years, leading to protests and political resistance. However, recent developments indicate progress in the company’s efforts to garner support from the affected communities....
On Friday morning, shares of Newcrest Mining experienced a significant drop of 4.9 per cent, following disappointing earnings reported by Newmont Corporation, the takeover bidder for the Australian mining company. Newmont’s financial results fell short of analyst expectations, leading to a negative impact on Newcrest’s stock performance. As of 10:17 am, Newcrest shares were trading at $26.26 each, reflecting the...
Vedanta Resources Ltd., owned by Indian billionaire Anil Agarwal, has announced that it is in “advanced stage” talks to regain control of the Konkola Copper Mines Plc in Zambia, four years after the Zambian government took over the mining complex. Vedanta issued a statement on Sunday expressing its commitment to the negotiation process, even though the talks have taken longer...
