Alien Metals Ltd has reported that its subsidiary, the Iron Ore Company of Australia, has secured Heritage Agreements with the Karlka Nyiyaparli Aboriginal Corporation RNTBC. The agreements concern two exploration licences and one miscellaneous licence associated with the Hancock Iron Ore Project in Western Australia’s Pilbara Region. Alien Metals owns a 90% interest in this project. The Heritage Agreements cover...
The Almalyk Mining and Metals Combine (AGMK), a significant copper, silver, and gold producer in Uzbekistan, has secured a $2.55 billion loan from Germany’s KfW-IPEX Bank. This financial move aims to double AGMK’s current production capacity. Last year, AGMK produced 148,500 metric tons of copper. AGMK’s operations are primarily based on reserves of copper-molybdenum, lead-zinc, and gold-silver deposits found in...
Spruce Ridge Resources Ltd has confirmed its option agreement with Benton Resources Inc. as of September 20, 2023. Through this agreement, Benton has the option to earn up to a 70% stake in Spruce’s Great Burnt Copper/Gold Property. Key Points of the Agreement: Upon Benton securing a 70% interest, both companies will jointly operate the property. Should either company’s interest...
ACG’s Big Swing ACG Acquisition Co had a plan – buy a nickel and copper mine from Appian Capital for a cool billion. This wasn’t just any purchase. It was a gamble on metals vital for green energy. With heavy hitters like Glencore, Chrysler’s parent Stellantis, and Volkswagen’s battery branch, PowerCo, backing the play, it seemed like a done deal....
Pan American Silver (PAAS) has successfully completed the previously announced divestment of its 56.25% stake in the MARA project in Argentina and its 92.3% ownership in the Morococha mine in Peru. These divestments align with Pan American’s strategic goal of optimizing its portfolio after acquiring Yamana Gold. The transactions will lead to a reduction in the company’s annual costs related...
In a significant announcement, Alcoa Corporation (NYSE: AA) has revealed that William F. Oplinger will take the helm as President and Chief Executive Officer of the company, as well as become a member of its Board of Directors. Oplinger, 56, steps into his new role after serving as the Company’s Executive Vice President and Chief Operations Officer since February 2023....
Bayrock Resources, backed by QX Resources, has announced an expansion of the mineral lease area for its promising Vuostok nickel-copper project located in Northern Sweden. QX Resources, led by Steve Promnitz, acquired a 39% stake in Bayrock Resources, an unlisted Australian company with a portfolio of nickel-copper-cobalt projects in Sweden, in July. The Vuostok project is situated approximately 60km northwest...
Saudi Arabian Mining Company (Ma’aden) and King Abdullah University of Science and Technology (KAUST) have reached an agreement to jointly invest in the startup known as Lithium Infinity (Lihytech). The innovative technology has the capability to extract lithium from unconventional sources, including seawater. It possesses the potential to translate KAUST’s research into commercial viability, thus delivering strategic significance and value...
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...
On September 5, 2023, a Uzbek-Chinese business forum took place in Tashkent, within the framework of which events were held to commemorate the 10th anniversary of the “Belt and Road” initiative and a conference on cooperation and exchange between China (Shandong) and Uzbekistan. The aim of these events was to promote the joint utilization of the “Belt and Road” opportunities,...
