Business and Finance

  • BUSINESS AND FINANCE

    Anglo American secures 100 per cent renewable energy across South American operations

    Image taken at the Quellaveco operation in Peru, credit: Anglo American. Anglo American has delivered on its commitment to source 100 per cent renewable energy for all of its operations in Brazil, Chile and ... more

  • BUSINESS AND FINANCE

    Lepidico signs LOI for product offtake with BJR

    Lepidico Limited has entered into a non-binding Letter of Intent (LOI) with Hubei Baijierui Advanced Materials Corporation (BJR) for the supply of lithium, caesium and rubidium chemicals from the Lepidico’s p... more

  • BUSINESS AND FINANCE

    Platina builds gold presence in Western Australia

    Project Tenure and Prospects. Image courtesy of Plana Resources Limited. Plana Resources Limited will expand its gold presence in Western Australia after signing a conditional term sheet to acquire the Xanad... more

  • BUSINESS AND FINANCE

    Walkabout secures US$20M Project Finance Facility for Lindi Jumbo

    Site works at the Lindi Jumbo Graphite Project. Image courtesy of Walkabout Resources. Walkabout Resources has announced that Lindi Jumbo Limited, its wholly-owned subsidiary, and CRDB Bank of Tanzania have ... more

  • Anglo American secures 100 per cent renewable energy across South American operations
  • Lepidico signs LOI for product offtake with BJR
  • Platina builds gold presence in Western Australia
  • Walkabout secures US$20M Project Finance Facility for Lindi Jumbo

Elizabeth Creek Copper Project Joint Venture commences

Image credit: Coda Minerals Limited. Coda Minerals Limited and Torrens Mining Limited have commenced a joint venture for the Elizabeth Creek Copper Project in South Australia’s world-class mining jurisdiction, the Gawler Craton. The Elizabeth Creek Copper Project, which covers 739 square kilometres, is located 100 kilometres south of BHP’s Olympic Dam mine, 15 kilometres from BHP’s Oak Dam West Project and 50 kilometres west of OZ Minerals’ Carrapateena copper-gold project. The project includes JORC 2012- compliant Indicated Mineral Resources at the Windabout and MG14 deposits, which together host a combined 159,000 tonnes of contained copper and 9,500 tonnes of contained…

Anglo American to demerge South Africa thermal coal operations

Image of the Zibulo Colliery in Mpumalanga, South Africa, courtesy of Anglo American. Anglo American plc (Anglo American) has announced the demerger of its thermal coal operations in South Africa, subject to the approval of Anglo American’s shareholders on 5 May 2021. The separation will be implemented through the transfer of Anglo American’s thermal coal operations in South Africa to a new holding company, Thungela Resources Limited (Thungela), the demerger of the Thungela shares to Anglo American shareholders and the primary listing of Thungela’s shares on the Johannesburg Stock Exchange (the JSE) and standard listing on the London Stock Exchange…

St Barbara acquires 70 per cent interest in Lake Wells Gold Project

Image courtesy of Australian Potash Limited. Australian Potash Limited has announced that St Barbara Limited has advised satisfaction of the expenditure commitment under the Earn-In and Joint Venture Agreement to acquire a 70 per cent interest in the tenements comprising the Lake Wells Gold Project (LWGP). The LWGP is located approximately 60 kilometres from Gold Road Resource’s tier 1 Gruyere Project in Western Australia. Australian Potash and St Barbara have now formed an unincorporated Joint Venture to continue the exploration, development and mining of mineral resources on the project. Under the terms of the Agreement, Australian Potash shall not be…

BMW Group steps up sustainable sourcing of lithium

View of the salt lake Salar del Hombre Muerto in northern Argentina. Responsible extraction of lithium by Livent. ©Livent (03/2021) The BMW Group will be accelerating its expansion of e-mobility in the coming years. By 2030, at least half the company’s global sales are expected to come from fully electric vehicles. This will also increase the need for lithium, an important raw material for the production of battery cells. For this reason, the company will source lithium from a second leading supplier, US-based Livent. The value of the multi-year contract will total around 285 million euros. Livent will supply the…

Vale finalises the sale of Vale New Caledonia to Prony Resources

Vale has informed that, following its announcement on 8 December 2020, its subsidiary Vale Canada Limited has concluded the sale of its ownership interest in Vale Nouvelle-Calédonie S.A.S. to the Prony Resources New Caledonia consortium. The consortium of investors, including Trafigura, comprises a majority and non-dilutable shareholding for New Caledonian interests. CEO of Vale, Eduardo Bartolomeo, said that after several months of negotiations, he is pleased that Vale has concluded its divestment of VNC, benefitting employees, New Caledonia and all its stakeholders. “Vale is fully committed to this transaction. It meets the guarantees required at the financial, social and environmental…

Aguia raises approx. $4M to commence construction of TEPP

Aguia is planning to produce 306,000 tonnes of Pampafos (the Company's natural phosphate fertiliser) per annum from the TEPP site. Image credit: Aguia Resources. Aguia Resources Limited (Aguia or the Company) has closed a private placement raising approximately A$4.07 million (the Placement) before costs. Together with existing cash reserves and likely pending debt funding, Aguia is well-funded to commence construction at the Três Estradas Phosphate Project (TEPP). The TEPP is an open‐pit, truck and shovel operation located approximately 320 kilometres southwest of Porto Alegre, the capital city of Rio Grande do Sul State in southern Brazil, in a major farming region…

Insufficient financial reporting may lead to underestimation of environmental liabilities

European listed companies in the energy and mining sector provide, to say the least, sparse information on future environmental costs in their annual reports. Researchers believe that stricter guidelines are required as the lack of information may lead to underestimation of environmental liabilities, resulting in that future generations may have to bear the burden of clean-up costs. Mari Paananen, associate professor of business administration at the School of Business, Economics and Law at the University of Gothenburg, said: “I believe that the future environmental liabilities such as decommissioning costs are often underestimated, and few understand the burden these costs might…