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Mining Technology
Xmt To Deploy Hybrid Drilling Rig At Ivanhoe Arizona Copper ProjectXtremeX Mining Technology (XMT) is set to deploy its AC-electric automated coiled tubing and electric top-drive diamond core drilling rig at Ivanhoe Electric’s Santa Cruz copper project in Arizona.
This system will be tested in a funded field trial at the Santa Cruz project.
The trial aims to reach depths of up to 2,000m by replicating historic drill holes.
Ivanhoe Electric has secured exclusivity on three XMT rigs for contracts lasting up to a period of five years.
The XMT rig is said to adapt “proven oil and gas technology” for mining, promising safer, quicker and more sustainable drilling.
This patented hybrid drilling system builds on the success of an earlier prototype developed by the XMT team.
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It is said to be designed to improve drilling speed and core recovery, and produce high-fidelity drill chips.
This follows XMT’s Series-A funding of $11m led by GoGreen Partners, which will support the development and field deployment of the first hybrid rig at Santa Cruz.
XMT CEO Matt Porter said: “This hybrid coiled tubing rig will combine AC-electric power with highly automated controls enabling diamond core, rotary and coiled tubing drilling. It offers a versatile solution for mineral exploration and delineation drilling.
“This technology provides a compelling value proposition by delivering faster, safer drilling operations and generating more information per dollar spent.”
GoGreen Partners has assembled a consortium of companies to ensure the manufacture and launch of the rig.
This includes Precision Drilling, preferred supplier Baker Hughes and other partners such as the Mines Venture Fund 1.
XMT founder and chairman Tom Wood said: “We are excited to collaborate with GoGreen Partners and a group of leading oil and gas technology companies, combined with mining sector technology providers, to introduce this innovative hybrid coiled tubing and diamond core rig to the mining industry.
“The XMT team has a history of developing and commercialising some of the most advanced coiled tubing drilling systems. XMT’s proven track record, coupled with Precision Drilling’s rig technology and land drilling market position, creates a formidable team to build our first rig.
“Additionally, GoGreen’s introduction of Ivanhoe Electric, an innovator and world leader in mineral exploration, to test the rig at its Santa Cruz copper project is an exciting opportunity to prove the technology in the field.”mining
Jan 15, 2025
Mining Technology
Minerals 260 Seals Deal To Acquire Bullabulling Gold Project In WaMinerals 260 has announced the acquisition of the Bullabulling gold project in Western Australia from Norton Gold Fields, part of China’s Zijin Mining, for A$166.5m ($103.6m).
The junior explorer will pay A$156.5m in cash and A$10m in shares as deal consideration.
The deal is expected to close in the second quarter of this year.
Its completion is contingent upon regulatory and shareholder approvals, an equity raise to finance the purchase, Australian Securities Exchange (ASX) re-compliance and other standard conditions.
Minerals 260 intends to finance the deal via an equity raise, which will be managed by Bell Potter Securities and Argonaut Securities as joint lead managers.
The Bullabulling project, with a 2.3 million-ounce mineral resource estimate, is situated in the Archaean Yilgarn Craton, around 65km south-west of Kalgoorlie and 25km west of Coolgardie in Western Australia.
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This project encompasses a tenement package of 127km², consisting of 59 tenements.
It features four main deposits – Dicksons, Phoenix, Bacchus and Kraken, all of which can be mined using open-pit methods.
Previous metallurgical testing indicates recoveries of 87% across the project, alongside meaningful historical production in the 1990s, which yielded 3.9 million tonnes of ore, recovering 179,000oz of gold.
A solid foundation underpins the near-term production objective, with around 12,000 drill-holes totalling 530,000m across the project.
Minerals 260 plans to initiate an 80,000m reverse circulation and diamond drilling campaign immediately after the completion of the proposed transaction.
The company will collaborate with Norton Gold Fields during the interim period to lodge the necessary permits.mining
Jan 15, 2025
Mining Technology
Abb, Epiroc To Collaborate On Underground Trolley Solutions For Mining IndustryABB and Epiroc have signed a memorandum of understanding (MOU) to advance collaboration on underground trolley solutions for the mining industry.
The partnership aims to deliver extensive and integrated solutions that enhance productivity and safety, while meeting decarbonisation targets.
The MOU follows earlier technology deployment successes in Swedish mines.
Under the terms of the agreement, both companies will establish collaborative teams to conduct a thorough feasibility assessment of their combined offerings.
This assessment seeks to address the stringent needs of industrial applications within the mining sector, focusing on productivity, sustainability and the implementation of high-power, automated and safe operations.
Any resulting solutions will be robustly designed to endure the challenging environmental conditions commonly found in underground mines and constructed in accordance with approved standards.
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Epiroc underground division president Wayne Symes said: “Collaboration within the mining industry is crucial to accelerate the transformation of our mining customers’ decarbonisation journey.
“We are excited to deepen our partnership with ABB by developing a strategic road map for sustainable, innovative mining, beginning with the decarbonisation of mining truck fleets, expanding on the trolley system to meet the wider needs of the industry with the target set to increase both safety and productivity.”
Mining companies are facing mounting environmental, societal and economic pressures as they increasingly seek solutions to support the electrification of their vehicle fleets and fully decarbonise their operations.
The two companies believe they have complementary, specialised expertise in trolley solutions for underground systems.
The recent achievements of ABB and Epiroc include the development of the first battery-electric trolley truck system for underground mines, created in partnership with Swedish mining company Boliden.
ABB Process Industries global business line manager for mining Max Luedtke said: “The decarbonisation of mine haulage fleets is becoming increasingly pressing as we look towards 2030 sustainability goals. We must encourage collaboration across the industry to speed up the change needed, and Epiroc is aligned with this approach.
“We know from our recent Mining’s Moment report that 71% of mining companies agreed that successful partnerships are key to gaining momentum in the energy transition. Technology players demonstrating a strong commitment to open standards and asset interoperability facilitate these efforts, so we look forward to discovering what else we can achieve with Epiroc and the wider industry.”
This collaboration aims to provide integrated offerings utilising today’s existing technologies.mining
Jan 15, 2025
Mining Technology
U.S. Strategic Metals, Alphasierra Partner To Bolster Us Critical Minerals Supply ChainU.S. Strategic Metals, a critical minerals and strategic metals processor, has announced a partnership with AlphaSierra One, an advisory and asset acquisition platform.
This collaboration aims to address critical gaps in the US supply chain for strategic minerals and enhance energy independence.
The alliance comes at a crucial time as the US prioritises the security of its critical minerals supply chain.
This partnership will see U.S. Strategic Metals and AlphaSierra One combine their complementary expertise to enhance the extraction, processing and distribution of critical minerals and strategic metals within the US.
The goal is to reduce reliance on foreign sources while supporting domestic industries that are essential to national security and clean energy development.
The collaboration will concentrate on maximising opportunities that align with federal initiatives such as funding programmes and partnerships, designed to tackle vulnerabilities within the critical minerals sector.
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By merging U.S. Strategic Metals’ processing technologies with AlphaSierra One’s expertise in strategic advisory, the partnership is well-placed to deliver significant outcomes for both stakeholders and investors.
AlphaSierra One executive chairman C. Derek Campbell said: “The United States is at a critical juncture where securing our domestic supply chain for strategic minerals is not only an economic imperative but also a matter of national security.
“This strategic alliance underscores our commitment to driving actionable solutions that align with US Government priorities, ensuring energy independence and sustainable growth in 2025 and beyond.”
Research suggests that more than 90% of the essential minerals required for defence systems and clean energy technologies are presently processed outside the US, highlighting the pressing need for domestic processing capabilities.
U.S. Strategic Metals co-founder and CEO Stacy W Hastie said: “This relationship with AlphaSierra One represents a powerful alignment of expertise and shared vision. Our goal is to create a more resilient supply chain that not only meets the immediate needs of today but also positions the United States as a global leader in the sustainable production and management of critical minerals.”
This strategic alliance offers considerable potential for investors interested in backing companies at the crossroads of advanced mineral processing and national security priorities.
Furthermore, the collaboration highlights the increasing importance of public-private partnerships in strengthening the US industrial base, ensuring a robust supply chain for critical minerals.mining
Jan 15, 2025
Mining Technology
Barrick Gold Suspends Operations In Mali After $245M Gold SeizureCanada’s Barrick Gold has confirmed the suspension of its operations in Mali after the government seized gold stocks from the Loulo-Gounkoto mining complex.
Barrick holds an 80% stake in the mining complex, while the Malian Government owns the remaining 20%.
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The seizure, which occurred over the weekend, reportedly involved approximately 3t of gold valued at $245m (C$351.15m), according to a report by Business Day, citing sources.
The seizure stemmed from a confiscation order issued last week by Judge Boubacar Moussa Diarra.
Mali’s Economy Ministry asserted that Barrick’s two mines owed a total of $5.5bn to the government, a figure significantly higher than previous estimates.
The confiscated gold is set to be transported to the state-owned Banque Malienne de Solidarite (BMS) in the capital, Bamako, the report said.
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In a letter addressed to the Malian Government, Barrick stated that the seizure necessitated a temporary suspension of mining activities at both the Loulo and Gounkoto mines.
Barrick highlighted in its correspondence with the Malian Government that the seizure of the gold rendered it uninsured.
The company is awaiting confirmation that the gold has arrived at BMS and requires proof of insurance for the gold held there.
Barrick has been embroiled in a dispute with the Malian Government since 2023 regarding a contract tied to new mining regulations.
Tensions have escalated, leading to the detention of senior executives and an arrest warrant issued for Barrick CEO Mark Bristow.
On Friday, the International Centre for Settlement of Investment Disputes registered Barrick’s request for arbitration proceedings against Mali, as indicated by public documents.
In a note to its Malian staff on Sunday, Barrick warned that the government had begun enforcing the gold seizure order and reiterated the potential for a prolonged suspension of operations due to the ongoing dispute.
Reports suggest Mali previously demanded approximately $500m in unpaid taxes from Barrick, which the company denies.
Barrick’s quarterly earnings report indicated that the company paid $85m to the Malian Government in October.
Military governments in Mali, Burkina Faso and Niger are currently seeking to renegotiate terms to secure a larger share of mining revenue amid record-high gold prices.mining
Jan 15, 2025
Mining Technology
Arafura Gets A$200M Federal Backing For Nolans Rare Earth Project In AustraliaArafura Rare Earths has secured A$200m ($123.7m) of investment from the Australian Government’s National Reconstruction Fund Corporation (NRFC) to advance the Nolans Project in the Northern Territory.
This investment marks NRFC’s largest commitment to date and has been termed as a “significant investment milestone” for the rare earth project.
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NRFC’s investment is part of Arafura’s broader capital raising efforts, enabling the company to gather the remaining funds necessary to initiate the project.
The project, with a proposed 38-year lifespan, involves constructing a mine, processing plant and related infrastructure to produce 4,440tpa of NdPr oxide.
These minerals are essential for the global shift to net zero, acting as crucial components in the industrial magnets utilised in electric vehicles and wind turbines.
Arafura managing director and CEO Darryl Cuzzubbo said: “An investment of this significance by the NRFC highlights the importance of Arafura and the Nolans Project to Australian rare earths downstream processing capabilities and building resilience in a global supply chain.
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“We are proud of this partnership with the NRFC and acknowledge their commitment and professionalism as we continue to move the Nolans Project closer to a final investment decision.”
This commitment aims to enhance Australia’s access to rare earth minerals and also creates employment opportunities, particularly for indigenous Australians.
Located 135km north of Alice Springs, the Nolans Project is expected to generate more than 600 jobs in the construction phase and approximately 350 during steady-state operations.
NRFC chair Martijn Wilder AM said: “Rare earth minerals are strategically important resources that are crucial to modern economies and the global transition to net zero.
“Arafura’s Nolans Project demonstrates the enormous contribution that Australia can make to the global supply of rare earth minerals and the considerable opportunities for Australia to add value to the raw materials that it mines.”
As Australia’s first ore-to-oxide rare earths processing operation, the Nolans Project is poised to meet nearly 4% of the world’s forecast demand for NdPr.
Its location is said to bring substantial benefits to the local community, with Alice Springs serving as the logistics hub for both construction and operational phases.mining
Jan 15, 2025
Mining Technology
Mali To Receive $1.2Bn From Miners Following Mining Sector OverhaulMali is reportedly set to receive CFA Fr750bn ($1.2bn) from mining companies in the first quarter of this year after implementing wide-ranging reforms of its mining sector.
Finance Minister Alousseni Sanou announced this development in a speech to parliament, highlighting the government’s ongoing efforts to reform the industry, according to a report by Bloomberg.
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In late December 2024, Mali received CFA Fr500bn after negotiations with mining companies.
The total amount is expected to be secured by 31 March 2025, according to Sanou’s remarks to Mali’s National Transition Council, as reported in the minutes from a publicly aired meeting in late December, the report said.
Mali’s military leadership has adopted a stringent approach towards international miners, implementing extensive reforms within the sector in recent years.
These include the adoption of a new mining code, which mandates companies to pay back millions of dollars in taxes and dividends after a revenue shortfall for the state, estimated at between CFA Fr300bn and CFA Fr600bn, was revealed in an audit.
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Last year, Australia’s Resolute Mining reached an agreement to pay around $160m (A$260.58m) to settle a tax dispute, after the company’s CEO was detained in November.
In September, B2Gold and Allied Gold reached new agreements that included settlement payments concerning their Fekola and Sadiola mines. The company also outlined plans for future expansion projects.
Barrick Gold has indicated that it may be forced to halt its mining operations in Mali unless the government ceases disruptions to its exports and operations.
According to the report, Mali claims Barrick owes around $512m (C$738.71m) in unpaid taxes and dividends, a claim that Barrick has publicly rejected.
In addition to the expected revenue from miners, Mali is set to enhance state revenue following the new mining code adopted in 2023.
This follows the West African nation and domestic groups increasing their stake in producing assets from 20% to 35%.
The code also stipulates that Mali will receive 7.5% of sales if gold prices exceed $1,500/oz, as detailed by Sanou to council members.mining
Jan 13, 2025
Mining Technology
Horizon Minerals Garners A$6.35M For Project DevelopmentAustralian gold producer Horizon Minerals has secured A$9.62m ($5.91m) of investment through a private placement with Golden Crane Holdings.
The share subscription agreement (SSA) involves the issuance of around 213.9 million ordinary shares at A$0.045 each.
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The capital raised will be allocated towards project development and may also facilitate the retiring or refinancing of debt.
Horizon Minerals managing director and CEO Grant Haywood said: “We are very pleased to have the support of a new private equity investor who has committed to provide $9.625m to fund the company’s ongoing project developments at Boorara and Phillips Find Project.
“With the gold price at all-time highs, we look forward to ongoing gold production from Boorara and Phillips Find, and further production optionality in the future from our advanced suite of development ready assets.”
This placement will be implemented in two tranches. Tranche one involves the issuance of 141 million new shares to an unrelated party.
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Tranche two will consist of nearly 72.9 million new shares, which will be issued in the coming months, contingent on Foreign Investment Review Board approval, if required. This tranche aims to raise A$3.28m.
In late July 2024, Horizon approved the development of the Boorara project, which includes mining a series of four open pits containing 1.24 million tonnes of ore at a grade of 1.24 grams per tonnes of gold, yielding an estimated 49,500oz of gold.
The first ore stockpile, comprising 54,380t, has undergone assaying and metallurgical test work and is currently being transported to the Paddington mill for imminent gold production.
Additionally, mining at Phillips Find commenced in October 2024 through a joint venture with BML Ventures.
The first gold-bearing ore is now being mined, with processing of 200,000t scheduled to begin in February 2025 at FMR Investments’ Greenfields Mill and completed by the end of June 2025.mining
Jan 13, 2025
Mining Technology
Us Lobbies Greenland Rare Earths Developer To Snub China-Linked BuyersUS and Danish officials have lobbied Tanbreez Mining, the developer of Greenland’s largest rare earths deposit, to refrain from selling its project to companies linked to China.
The Tanbreez deposit comprises 30% heavy rare earths, extensively used in defence applications, as reported by Reuters.
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The site also contains gallium, on which China imposed export restrictions in 2024.
Tanbreez plans to mine 500,000mt of the rare earths-containing mineral eudialyte annually by 2026.
Tanbreez CEO Greg Barnes stated that the company has been in regular discussions with Washington as it evaluates funding options for developing the island’s critical minerals.
Barnes noted that US officials visited the project in southern Greenland twice in 2024, consistently advising the financially constrained company not to sell the large deposit to a buyer linked to Beijing.
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Ultimately, Barnes sold Tanbreez to New York-based Critical Metals as part of a complex deal expected to conclude later in 2025.
Critical Metals CEO Tony Sage said: “There was a lot of pressure not to sell to China.”
Barnes reportedly received $5m in cash and $211m in Critical Metals stock for Tanbreez, significantly less than offers from Chinese firms, according to Critical Metals CEO Tony Sage.
Barnes clarified that offers from Chinese and other parties were not relevant as they lacked clear payment structures.
The sale of Tanbreez to Critical Metals indicates that US officials have achieved more success in Greenland than in Africa, where efforts to counter China’s influence have faced challenges.
A competing rare earths project from Energy Transition Minerals, which includes China’s Shenghe as its largest shareholder, has stalled due to ongoing legal disputes.
Incoming US President Donald Trump’s eldest son, Donald Jr, visited Nuuk privately on Tuesday 7 January 2025, shortly after Trump senior reiterated his interest in acquiring the island.
Denmark has consistently stated that Greenland, a self-governing part of its kingdom, is not for sale.
The visit followed a four-day trip by a State Department official to Greenland’s capital, aimed at encouraging Western mining investment.
Critical Metals applied for funding to develop a rare earths processing facility from the US Department of Defense in 2024, but the review process has stalled ahead of Trump’s inauguration on 20 January 2024.
Sage anticipates that discussions will resume post-inauguration, noting that Trump’s transition team has already reached out to him.
“We’re already in discussions with the US to sell rare earths to the US and build the processing plant in the US,” he stated.
Critical Metals has engaged in supply discussions with defence contractor Lockheed Martin and has upcoming talks with RTX and Boeing.
Lockheed Martin confirmed that it continuously assesses the rare earth supply chain to ensure access to critical materials. RTX and Boeing did not respond to requests for comment.
GreenRoc has applied for an exploitation licence to develop a Greenland graphite project and has held funding discussions with US officials in the twelve months to January 2025, according to CEO Stefan Bernstein.
Neo Performance Materials and Anglo American are also exploring opportunities on the island.mining
Jan 13, 2025
Mining Technology
Upcoming Future Minerals Forum In Riyadh To Announce Agreements Worth BillionsThe upcoming fourth edition of the FMF, scheduled for 14–16 January, in Riyadh, Saudi Arabia, is expected to announce agreements worth billions.
The event is poised to reinforce FMF’s global status as a premier platform for fostering collaboration and investment in the minerals sector.
The agreements will encompass critical areas such as exploration and mining, financing, innovation, mineral industries, research and development and sustainability.
FMF executive director Ali Al-Mutairi said: “FMF is fulfilling its mission of becoming a global platform for businesses and investors to forge meaningful collaborations.
“The agreements to be signed during the conference will contribute to creating new job opportunities, strengthening value chains, driving innovation and ensuring long-term sustainable developments.”
These initiatives reflect the kingdom’s commitment to developing the mineral sector as a cornerstone of sustainable economic growth.
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This year’s FMF, themed ‘The Year of Impact’, is expected to attract 85 government representatives, 40 international organisations, 250 speakers and delegates from over 170 countries.
The aim is to shape the future of minerals and promote a resilient supply of critical minerals to facilitate the global energy transition.
The participant list includes 16 countries from the leading G20 economies, with 50 ministers and 13 vice-ministers confirming their attendance at the 2025 FMF Ministerial Roundtable on 14 January.
The FMF traditionally opens with the Ministerial Roundtable, a multi-stakeholder, government-led initiative.
It is designed to catalyse international efforts to boost investment in mineral supply and enhance capacity in the ‘super region’ of Africa, Western and Central Asia, and other supply regions.
This gathering is set to be the largest and most senior assembly of mineral resources officials globally.
Discussions will focus on progress made over the past year on three Ministerial Roundtable initiatives.
These are development of an International Critical Minerals Framework; the establishment of Centres of Excellence for sustainability (Morocco), talent development (South Africa) and technology innovation (Saudi Arabia); and advancements in certification systems to ensure responsible mineral sourcing.
Mining Affairs of Saudi Arabia Ministry of Industry and Mineral Resources vice-minister Khalid Al-Mudaifer said: “The meeting is an important step towards achieving sustainable development in the minerals sector globally.
“It is an ideal platform for delivering solutions, developing legislation on best practices in the field of sustainable mining, and exploring ways to invest in mining projects to achieve economic and social development in producing countries.”mining
Jan 13, 2025Mining Technology
India Nears Agreement With Mongolia For Copper And Coking Coal SupplyIndia is set to finalise a preliminary agreement with Mongolia in the field of geology and exploration.
This mining pact aims to secure copper and coking coal supplies that are crucial to meet growing demand in India’s power, construction and steelmaking sectors, according to a report by Reuters, citing sources.
Landlocked Mongolia is rich in copper and coking coal deposits, while India is largely dependent on imports for these resources.
An official said: “India’s cabinet has approved the MOU [memorandum of understanding], and both countries are expected to sign it soon.”
Requests for comment from India’s Federal Mines Ministry did not elicit a response.
Mongolia’s Ministry of Mining and Heavy Industry is yet to comment on the development, the report said.
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According to industry officials, Mongolia can offer superior grades of coking coal, making it an attractive option for Indian companies.
In November, JSW Steel and the Steel Authority of India were in talks with Mongolia over coking coal imports.
Companies including Adani, Hindalco and Vedanta have shown interest in sourcing copper from Mongolia and both nations are currently discussing supply routes, with India favouring the Vladivostok route in Russia, the source said.
“China is convenient, but we prefer the route from Russia,” the official noted.
Relations between India and China have been tense since a 2020 border clash, although recent agreements have eased tensions.
India traditionally maintains close ties with Russia.
In a separate development, India’s Ministry of Coal recently launched the 11th round of its commercial coal mine auctions, offering 27 coal blocks.
This included ten fully explored and ten partially explored blocks.
This initiative aims to boost regional economic growth and employment, unlocking India’s coal reserves and enhancing energy security.
India also signed an MOU with the US in October last year to enhance supply chains for lithium, cobalt and other critical minerals used in electric vehicles and clean energy technologies.mining
Jan 13, 2025Mining Technology
Element 25 Gains Regulatory Approval For Butcherbird Expansion In WaElement 25 has received key regulatory approvals for the stage two expansion of its Butcherbird manganese project in Western Australia.
The Western Australia Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) has approved the project’s mining proposal and mine closure plan.
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The expansion will increase manganese concentrate production from the project to 1.1Mt per annum up to 2026.
Approval for the project’s tailings storage facility (TSF) to support six years of processing operations has also been granted with future expansion provisions in place.
Element 26 stated: “This is a key approval under the Western Australian regulatory framework and marks an important milestone for the Butcherbird project.”
The company now awaits works approval to begin construction of the expanded processing facility, having submitted the application in October 2024.
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Approval is expected soon, with “no known impediments”.
All necessary approvals and access agreements are in place for Butcherbird’s Stage 1 operations, including water abstraction, heritage clearances, native title and pastoral agreements.
Located in the Pilbara region of Western Australia, the Butcherbird project is the company’s flagship manganese asset and has the potential to significantly contribute to the global manganese market.
The expanded operations will supply manganese oxide concentrate to downstream steel markets and serve as feedstock for Element 25’s battery-grade high-purity manganese sulphate monohydrate processing facility, planned for construction in the US state of Louisiana.
The facility, to be developed in partnership with General Motors and Stellantis, has backing from the US government’s Department of Energy (DoE).
It was selected to negotiate for the award of $166m in DoE grant funding for the project. The refinery will supply raw materials to the fast-growing US electric vehicle battery market.
This aligns with Element 25’s goal to become a global leader in low-carbon battery materials.mining
Jan 13, 2025