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Rg Royalties Purchases 2.5% Nsr On Arizona Sonoran’S Cactus Project For $55M
Mining Technology
Rg Royalties Purchases 2.5% Nsr On Arizona Sonoran’S Cactus Project For $55MArizona Sonoran Copper Company (ASCU) has announced that RG Royalties, a subsidiary of Royal Gold, has acquired a 2.5% net smelter royalty (NSR) on the Cactus copper project in Arizona. The purchase, made from Tembo Capital, amounts to $55m. Arizona Sonoran retains the right to buy back 0.5% of this NSR for $7m by 10 July 2025. The gold standard of business intelligence. Find out more Tembo Capital initially acquired the 2.5% NSR as part of a 3.18% NSR financing with Resource Capital Funds in 2020. The remaining portion is now held by Elemental Altus Royalties. ASCU president CEO and director George Ogilvie said: “We are pleased to see the royalty move to a top calibre royalty and streaming company, with a history of participating in project financing packages and a positive prior experience with our management team. “We believe that Royal Gold, as the acquirer, is yet another strong endorsement and recognition of the Cactus Project and its go-forward plan, by a sophisticated mining financier. Our team has dedicated itself to growing the asset to a significant size, securing water, permits, community support and, as reflected in our 2024 PEA [preliminary economic assessment], demonstrating a capital efficient project with robust forecast economics. “We will continue to de-risk and advance Cactus as we move forward with various technical studies, through pre‑feasibility to definitive feasibility study, to an eventual final investment decision.” Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form Arizona Sonoran also has the option to repurchase 0.14% of Elemental Altus’ 0.68% NSR for $1.9m by 10 July 2025, potentially reducing the total NSR to 2.54%. It is also assessing options for the NSR buyback opportunities. Last month, the company announced a strategic private placement with Hudbay Minerals valued at C$19.9m ($13.83m). The transaction involves Hudbay subscribing to 11,852,064 common shares at C$1.68 per share. Prior to this placement, Hudbay held 2,870,800 shares, equating to a 2.12% stake in Arizona Sonoran. Following the transaction, Hudbay’s ownership will increase to approximately 9.99% of the common shares. The funds from this placement will support drilling, exploration, technical studies and further development of the Cactus project.
mining
Feb 14, 2025
Zimbabwe’S Kuvimba Mining House To Raise $950M For Mining Assets Development
Mining Technology
Zimbabwe’S Kuvimba Mining House To Raise $950M For Mining Assets DevelopmentZimbabwe’s state miner, Kuvimba Mining House, is seeking $950m (Z$25.1bn) to revitalise its mining projects, including lithium, platinum and gold assets. Under the leadership of CEO Trevor Barnard, the company is engaging with development banks, mining companies and traders to secure the necessary funding, reported Bloomberg. The gold standard of business intelligence. Find out more Kuvimba is now 70% owned by the state sovereign wealth fund, Mutapa Investment Fund. The remaining shares are held by finance ministry entities including state pension funds, power utilities and a deposit insurance fund. “Access to all the large development banks, to all the funding, to all the major traders has just opened up,” said Barnard, highlighting the positive impact of the company’s new ownership structure. Previously, funding efforts were hampered by undisclosed private investors holding a third of the company. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form Earlier attempts to launch an initial public offering and a venture with Russian investors were abandoned. Kuvimba’s assets were once linked to Kudakwashe Tagwirei, a businessman sanctioned by the US and UK for alleged corruption. However, Kuvimba has denied any stake held by Tagwirei. The Zimbabwean Government had considered using Kuvimba’s output to repay a fuel debt to Trafigura Group back in 2022. Zimbabwe is said to have the world’s “second-largest” platinum reserves behind South Africa, and is the “largest” producer of lithium in Africa. More than half of the $950m sought will be allocated to the Darwendale project’s underground platinum mine. At the Darwendale platinum deposit, Kuvimba plans to develop a smaller open-pit mine this year at an estimated cost of $50m. The company will collaborate with another mining company to process the ore. Talks are under way with development banks for loans to finance the larger underground project and processing facilities, with a targeted start date within three years. Barnard, who assumed his role in December, also noted that a company lithium project could cost up to $275m and may be developed more quickly. Kuvimba has entered into a lithium joint venture with Chinese mining companies, aiming to finalise a deal by March. Meanwhile, production at the Sandawana project is expected to start within 15 months of signing, reaching 500,000 tonnes of lithium concentrate annually. According to the report, the project will be financed by the Chinese partners, who will transfer it back to Kuvimba once the loan is repaid, a process estimated to take less than five years. The company also plans to develop a second area at Sandawana, with interest from potential investors including Cluff Africa and a major European commodity trader. Additional Chinese investors are also interested, with a deal potentially being signed within six to 12 months. Cluff did not respond to an email request for comment.
mining
Feb 14, 2025
Silver47 Identifies Critical Minerals At Red Mountain Project In Alaska
Mining Technology
Silver47 Identifies Critical Minerals At Red Mountain Project In AlaskaSilver47 has identified concentrations of several elements at its Red Mountain project in Alaska, including those listed by both the US and Canada as “critical metals”.   A full review of historic and recent drill assays was undertaken following the 2024 drill programme.   The gold standard of business intelligence. Find out more As a result of recent efforts, high-grade zinc, silver, gold, lead and copper were found, as well as elevated amounts of antimony , gallium, niobium and vanadium  within the Dry Creek (DC) and West Tundra Flats (WTF) resource zones. DC and WTF are the two most advanced mineralised zones at Red Mountain.  The highest grades of antimony, gallium and vanadium occur at the Dry Creek zone, where up to 6,230 parts per million (ppm) antimony, 116.4ppm gallium and 1,110ppm vanadium were identified.  The most significant interval drilled at the Dry Creek zone was from hole DC18-77. This hole returned 6.8m of 2,928.4ppm antimony, 81.7ppm gallium, 938.7 grams per tonne (g/t) of silver, 1.5g/t of gold, 3.5% zinc, 1.7% lead and 0.4% copper.  Silver47 CEO Gary R Thompson, stated: “The identification of gallium and antimony, among other critical minerals, within the resource zones has the potential to add significant value to our Red Mountain project.”   Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form “While we are focused on growing the silver-gold and base metals resource at Red Mountain, further assessment of these critical minerals, which are used in a myriad of high-tech applications, is planned to better understand the potential contribution that they may have on the project.”  Gallium is used in technology such as electronics and clean energy solutions, while antimony plays a critical role in several military and industrial applications. China has imposed a ban on the export of antimony, gallium and other critical minerals to the US.  Silver47 announcement comes after US President Donald Trump signed an executive order on 20 January, his first day in office, to “unleash Alaska’s extraordinary resource potential”.  In the statement, the president said: “Unlocking this bounty of natural wealth will raise the prosperity of our citizens while helping to enhance our Nation’s economic and national security for generations to come.”
mining
Feb 14, 2025
Micromine Launches Micromine Advance Tool For Underground Mine Planning
Mining Technology
Micromine Launches Micromine Advance Tool For Underground Mine PlanningMicromine has announced the launch of a new tool, Micromine Advance, designed to enhance the efficiency of underground mine planning. The focus of this tool is to “empower” mining engineers to model underground environments with “unmatched” precision. The gold standard of business intelligence. Find out more Micromine Advance ensures that every plan is grounded in real-world feasibility, offering reliable and operationally achievable schedules. The tool’s unique design philosophy is resource-driven and follows a bottom-up approach to ensure that the plans are not only theoretically sound but also feasible in practice. Micromine CEO Andrew Birch said: “Micromine Advance is more than just a new product; it is a revolutionary leap in underground mine planning. Purpose-built for underground metals projects, Micromine Advance leverages cutting-edge technology, innovative design principles and user-friendly workflows to tackle the unique challenges of underground mine planning.  “Advance blends the best of Micromine’s trusted mine planning solutions – Alastri for open-pit metals and Spry for soft rock – with insights from seasoned underground mine engineers to create a tailored solution specifically for underground mine planning.”  Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form Micromine Advance provides a centralised working environment, eliminating fragmented project structures and disconnected data sources, allowing users to create, compare and optimise scenarios effectively. The tool also facilitates strategic decision-making by enabling users to visualise options in real time. Micromine Advance is designed to be easy to use, with guided workflows that accelerate adoption for new users. This ensures that teams maintain consistency and quality across outputs, leading to successful project outcomes. “The launch of Micromine Advance further strengthens Micromine’s integrated suite of solutions. Designed to support every stage of the mining life cycle – from early exploration to resource estimation, mine design, planning, production management and data analytics – Micromine empowers teams with accurate insights, streamlined operations and seamless collaboration.   Whether for junior explorers or large-scale enterprises, Micromine solutions drive better outcomes for projects, organisations and users,” Birch added.
mining
Feb 14, 2025
Perpetua Signs Engineering And Procurement Contracts For Stibnite Gold Project In Us
Mining Technology
Perpetua Signs Engineering And Procurement Contracts For Stibnite Gold Project In UsPerpetua Resources has announced progress at the Stibnite Gold Project in the US with the completion of basic engineering and the signing of detailed engineering and procurement contracts. The company has signed a detailed engineering studies contract with Ausenco Engineering USA South and a procurement contract with Idaho Power for powerline materials. The gold standard of business intelligence. Find out more The contracts mark a step in advancing the project towards a construction decision. The Stibnite Gold Project is located in Valley County, near Yellow Pine, Idaho. It is considered to be one of the “top ten” gold deposits in the US. The recently released 2024 Financial Update by Perpetua highlights the project’s economics, showing a $3.7bn after-tax net present value (NPV) and an after-tax internal rate of return (IRR) exceeding 27% at spot prices. The project remains “resilient” even at lower prices, with a $1.4bn after-tax NPV and 15.4% after-tax IRR at long-term consensus prices. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form The all-in sustaining costs are expected to average $435/oz of gold during the first four years of production and remain below $760/oz over the life of the mine. This positions the Stibnite Gold Project as a low-cost operation in Tier One jurisdictions such as the US, Canada and Australia. Perpetua Resources president and CEO Jon Cherry said: “The Stibnite Gold Project is among an elite class of gold projects, with industry-leading costs, a world-class reserve of 4.8 million gold ounces and an annual production profile of approximately 300,000oz over a 15-year life. “With the Final Record of Decision published and basic engineering complete, Perpetua looks forward to finalising our few remaining ancillary permits, and securing financing to start construction in 2025 to become a reliable source of the critical mineral antimony for defence needs.” Perpetua’s Financial Update also supports the company’s loan application process with the US Export-Import Bank’s $1.8bn letter of interest under the Make More in America and China Transformational Exports programmes. It indicates a more than 15% increase in US jobs created through the project’s life, potentially boosting the existing $1.8bn indication of interest from the US Export-Import Bank. Perpetua is evaluating strategic and financing opportunities, supported by financial advisors. The company is progressing execution planning to prepare the project to be construction-ready once all required permits are received. Idaho Power president and CEO Lisa Grow said: “We are pleased to partner with Perpetua Resources to power the country’s next major mineral resource project right here in Idaho. “This collaboration not only supports our nation’s economic growth but also strengthens our national security by ensuring a stable domestic supply of the critical mineral antimony. Our commitment to providing safe, reliable, affordable energy aligns with Perpetua’s mission to responsibly produce these essential minerals.” Last month, Perpetua announced the receipt of the Final Record of Decision from the US Forest Service, approving the Stibnite Gold Project’s mine plan.
mining
Feb 14, 2025
Bolivia’S China-Funded Steel Plant To Begin Production, Meeting 50% Of Domestic Demand
Mining Technology
Bolivia’S China-Funded Steel Plant To Begin Production, Meeting 50% Of Domestic DemandA China-funded steel plant in Bolivia, long in planning, is set to commence production this month, covering half of Bolivia’s steel needs. The $546m (3.97bn yuan) Mutun plant, funded by the Export-Import Bank of China, will be operated by Sinosteel Engineering and Technology for its first year, reported Reuters. The gold standard of business intelligence. Find out more The plant, set to be inaugurated on 24 February near the Brazilian border, is expected to produce 200,000 tonnes (t) of steel annually, including rebar and wire mesh, with a value of $260m. The Mutun plant will process 66,000t of raw materials per month, sourced from the Cerro Mutun deposit, which is estimated to contain one of the world’s largest reserves at 40 billion tonnes. “We are entering an era of industrialisation,” said Alejandro Santos Laura, Mining Minister, during a press conference. The project faced more than five decades of delays, including disputes with the initially contracted builder, Jindal Steel & Power from India. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form President Luis Arce’s government aims to revive the economy as declining gas exports affect foreign reserves and local currency. Officials are considering a second plant once domestic needs are met, although no timeline is provided, the report said. “When we pass 100%… we are going to build another plant, much better than the current one. We will have no choice but to export the surplus abroad,” Santos Laura stated. The plant is expected to create 700 jobs during its initial operations, and up to 1,000 during the life of the plant. Bolivia is also advancing its efforts to exploit its vast lithium deposits, preparing agreements with investors for processing plants. Despite low lithium prices and opposition from lawmakers and citizens, Bolivia is progressing with its plans.
mining
Feb 14, 2025
Byd Owns Mineral Rights In Brazil’S Lithium-Rich Region, Documents Show
Mining Technology
Byd Owns Mineral Rights In Brazil’S Lithium-Rich Region, Documents ShowChinese electric vehicle (EV) manufacturer BYD secured mining rights for two plots in Minas Gerais, Brazil’s lithium-rich region also known as ‘Lithium Valley’, in 2023, according to a report by Reuters, citing public records. This move marks BYD’s entry into the mining sector in its largest market outside China. The gold standard of business intelligence. Find out more The acquisition was made through BYD’s subsidiary, Exploracao Mineral do Brasil, established in May 2023. The subsidiary was formed with a share capital of 4m reais ($695,000) and recorded a profit of around 213,000 reais in 2023, mainly due to exchange rate variations. Currently, the company is in the research phase without financial movement or operating revenues. BYD’s mineral rights cover 852ha (8.5km²) in Coronel Murta, part of the Jequitinhonha Valley in Minas Gerais, close to US-listed miner Atlas Lithium’s holdings. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form Coronel Murta is approximately 825km (512 miles) from BYD’s factory complex on the coast of Bahia state, where the company plans to produce 150,000 EVs annually. Since acquiring the mineral rights, BYD has engaged Minagem Geologia e Mineracao, a local mineral research company. Global interest in Brazil’s strategic minerals has been highlighted by recent visits from US, Saudi and Chinese delegations. Unlike its South American neighbours, Brazil has maintained a more open market for lithium, easing export controls in 2022. The country’s best lithium prospects are hard rock deposits, suitable for traditional mining methods, unlike the challenging extraction from salt flats in Argentina, Bolivia and Chile. BYD’s investment in Brazilian lithium underscores its commitment to Latin America’s largest economy, despite recent accusations of labour abuses at its former Ford factory complex. The Financial Times reported that BYD had discussions with Sigma Lithium, a Brazil-based lithium producer, in 2024 about a potential supply agreement or joint venture. According to Luiz Fernando Visconti of Visconti Law, a mining sector law firm, it can take eight to 15 years for a mining project in Brazil to reach production if deemed economically viable. BYD has also previously invested in major Chinese miners and was one of six companies allowed to bid on a Chilean lithium project last year. The company is also planning a lithium cathode plant in northern Chile.
mining
Feb 14, 2025
Ganfeng Lithium Starts Production At Mariana Salt Lake Project In Argentina
Mining Technology
Ganfeng Lithium Starts Production At Mariana Salt Lake Project In ArgentinaChina-based miner Ganfeng Lithium has commenced production at its Mariana Salt Lake project in Salta Province in northern Argentina, reported Reuters. This development marks the beginning of several lithium projects the company has under way in the country. The gold standard of business intelligence. Find out more The Mariana plant was developed with an investment of $790m (5.76bn yuan) and is designed to produce 20,000 tonnes per annum (tpa) of lithium chloride from the Llullaillaco salt flat extraction. The project, which began with a ground-breaking ceremony in May 2022, will support Ganfeng in bolstering its lithium production capacity. In addition to the Mariana Salt Lake project, Ganfeng has invested $190m in constructing a solar park to meet the plant’s energy demands. Ganfeng Lithium Group president Wang Xiaoshen stated that the company’s other Argentina lithium projects are progressing well. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form The Pozuelos-Pastos Grandes project is set to begin construction this year, while the Incahuasi–Arizaro project is in an advanced exploration phase. The company is also involved with Lithium Argentina in the operational Cauchari-Olaroz project and the Pastos Grandes project, which is currently in the feasibility stage. In August last year, Ganfeng completed the acquisition of a 14.9% stake in Proyecto Pastos Grandes (PGCo), the Lithium Argentina unit that owns the Pastos Grandes lithium brine development project, for 357.1m yuan. Argentina’s Government, under President Javier Milei, has been supportive of mining initiatives, offering incentives that have been well-received by international copper and lithium miners. Argentina, Chile and Bolivia are part of the “lithium triangle” in Latin America, which is known for having one of the largest reserves of the lightweight metal. Despite some delays in lithium projects due to low prices and a slowdown in electric vehicle sales, the region continues to see development in lithium mining. At the inauguration of the Mariana plant, Mining Secretary Luis Lucero highlighted the project’s potential to boost local economies and provide quality employment for hundreds of families. The Mariana project, which Ganfeng fully owns, has a total lithium resource of approximately 8.12 million tonnes of lithium carbonate equivalent.
mining
Feb 13, 2025
Barrick Reports 15% Growth In Gold Production In Q4 2024
Mining Technology
Barrick Reports 15% Growth In Gold Production In Q4 2024Canadian miner Barrick Gold revealed significant gains in the fourth quarter of 2024 (Q4 2024), with gold production increasing by 15% and copper production by 33%, compared with Q3. The company met its annual guidance with full-year attributable gold production of 3.91 million ounces (moz). The gold standard of business intelligence. Find out more It reported a 23% increase in its gold mineral reserves in 2024 compared with the previous year, now standing at 89moz at 0.99 grams per tonne (g/t). The growth is primarily due to the conversion of resources to mineral reserves at Reko Diq, following a feasibility study, adding 13moz of gold at 0.28g/t. This has contributed to a fourth consecutive year of annual depletion replacement at a 4% higher grade, supporting the company in maintaining asset quality and extending the life of its operations. Net earnings saw an increase of 69% to $2.14bn, while attributable earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 30% to $5.19bn in 2024, the highest in more than a decade. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form Operating cash flow grew by 20% to $4.49bn, and free cash flow more than doubled to $1.32bn, driven by stronger earnings. The company maintained a quarterly dividend of $0.10 per share and returned $498m to shareholders through share buybacks. The company has launched a new programme to repurchase up to $1bn in outstanding common shares over the next 12 months at market prices. Barrick Gold also reported a 224% year-on-year increase in attributable copper mineral reserves, reaching 18 million tonnes (mt) at 0.45% grade, up from 5.6mt at 0.39% in 2023. The growth follows the completion of feasibility studies at Lumwana and Reko Diq, confirming both as potential Tier One copper assets. The studies added 13mt of new attributable copper reserves, equivalent to 73moz of gold. Meanwhile, Barrick’s Fourmile project is advancing to prefeasibility, driven by a 2024 drilling programme. Looking ahead to 2025, Barrick expects attributable gold production of 3.15moz–3.5moz, excluding Loulo-Gounkoto during its temporary suspension. Attributable copper production is projected to rise from 195,000 tonnes (t) in 2024 to 200,000–230,000t. The company’s CEO, Mark Bristow, expressed openness to engaging with the Malian Government to find a mutually beneficial solution. Bristow said: “While ongoing issues in Mali remain an investor concern, which have overly weighed on the share price, Barrick’s fundamental value proposition has never been stronger. As such, we have capitalised on the undervaluation of our shares by increasing our repurchases, and we have renewed our $1bn share buyback programme for the upcoming year. “Our ability to self-fund our growth pipeline is a major strength and, unlike many of our peers, we won’t need costly mergers and acquisitions or to issue additional equity to grow production. Our focus on a quality Tier One asset portfolio, continuous talent development, growth potential, robust balance sheet and unparalleled track record in replacing the reserves we mine, are the key reasons why we should be the go-to stock.”
mining
Feb 13, 2025
Lithium Demonstration Plant In Western Australia Resumes Construction
Mining Technology
Lithium Demonstration Plant In Western Australia Resumes ConstructionThe Mid-Stream Demonstration Plant Project in Western Australia (WA), a joint venture (JV) between Calix and Pilbara Minerals, has received formal approval by the board of directors to resume construction. In October 2024, the JV partners temporarily halted non-contracted construction for the project until lithium market conditions improved or additional government support was secured. The new approval followed the award of a A$15m ($9.4m) grant from the WA Government in January 2025. The project includes the construction and operation of a demonstration-scale plant featuring what is said to be the world’s first industrial-scale electric spodumene calciner at Pilbara Minerals’ Pilgangoora lithium site in WA. It is expected to decarbonise one of the most carbon-intensive processes in the battery materials supply chain. Procurement activities will begin immediately and all construction works are due to be completed in the last quarter of 2025 (Q4 2025). Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form Pilbara Minerals managing director and CEO Dale Henderson said: “Thanks to the WA Government we are able to complete construction of the Mid-Stream Demonstration Project, which has the potential to be a game-changer for the hard rock lithium processing industry. “This technology could create additional local jobs in Western Australia while producing a higher-value, lithium-enriched product at the mine site. This more concentrated product reduces transport volumes to our customers and ensures more value is captured onshore for Australia.” The project is an essential part of Pilbara Minerals’ strategy to be integrated more effectively in the battery materials supply chain. The project will generate around 80 jobs during construction and 35 during operation, with potential for more if expanded to full scale. The project is also backed by A$20m in funding from the Australian Government under the Modern Manufacturing Initiative. Henderson added: “Australia has an opportunity to do more than dig and ship our minerals and through this joint venture we are looking to prove up a new way to make this possible, not only for PLS (Pilbara Minerals) but for the whole industry.”
mining
Feb 13, 2025
Vale To Invest $12Bn In Carajas Expansion, Says Brazil Government
Mining Technology
Vale To Invest $12Bn In Carajas Expansion, Says Brazil GovernmentBrazilian iron ore producer Vale is set to announce a significant expansion of its mining operations at the Carajas complex in northern Brazil on Friday. The company plans to invest 70bn reais ($12.2bn) through 2030, as confirmed by the Brazilian Government. This strategic investment aims to enhance iron ore and copper production at Vale’s largest iron ore complex, which contributed more than half of the company’s total output last year, reported Reuters. The announcement is scheduled to take place at an event with Brazilian President Luiz Inacio Lula da Silva and cabinet members. Vale has not yet commented on the investment. The Carajas complex, located in the state of Pará, has been a focal point for Vale, especially after facing criticism from the government for its investment strategies and handling of past incidents including a dam collapse in 2015. Vale’s CEO Gustavo Pimenta met with President Lula last month, where he indicated a strong alignment between the company’s projects and Brazil’s development goals. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form In addition to iron ore, Vale also produces copper and nickel at its Sossego, Salobo and Onca Puma mines in Pará. Further demonstrating its commitment to the Carajas complex, Vale entered into a 1.8bn reais services agreement with Wabtec in June 2024 to improve its Carajás Railway locomotive fleet. Additionally, in September 2021, Vale began using six autonomous trucks capable of hauling 320 tonnes each at the Carajas iron ore complex, following successful trials since 2019.
mining
Feb 13, 2025
Ivanhoe Mines Begins Exploration In Kazakhstan’S Chu-Sarysu Copper Basin
Mining Technology
Ivanhoe Mines Begins Exploration In Kazakhstan’S Chu-Sarysu Copper BasinIvanhoe Mines has formed an exploration joint venture (JV) with UK-based private company Pallas Resources to explore the Chu-Sarysu copper basin in Kazakhstan. The JV encompasses a licence package of up to 16,000km², 7.5-times larger than Ivanhoe’s nearby Western Forelands package, for its next major copper discovery. The company has acquired a 20% equity interest in the JV with the option to increase its stake up to 80% over time. The company is making an initial investment of C$18.7m ($13m) towards exploration activities over two years. Following the initial period, Ivanhoe can earn the majority interest by investing up to C$115m over four years, with the potential to adjust the exploration programme based on results and prospectivity. The JV aims to replicate Ivanhoe’s success in the Democratic Republic of Congo (DRC), where it has discovered more than 50 million tonnes (mt) of sediment-hosted copper deposits. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form Chu-Sarysu is the world’s “third-largest” sedimentary copper basin behind the central African Copperbelt and Kupferschiefer in Europe. The basin contains 27mt of known copper resources and is home to deposits such as the Zhezkazgan complex, which produces roughly 200,000 tonnes of copper annually. The US Geological Survey estimates there is an additional 25mt of undiscovered copper in the basin, suggesting substantial untapped potential. The basin also has occurrences of lead, zinc, silver, barium and strontium. An initial examination of digitised Soviet-era data identified several potential exploration targets. Ivanhoe founder and executive co-chairman Robert Friedland said: “The Ivanhoe Group has a long history in Kazakhstan and we look forward to returning to this country to further unlock the significant geological potential of the Chu-Sarysu basin. “Ivanhoe’s strategic partnership marks an exceptional opportunity to utilise our exploration expertise in one of the world’s most prospective sedimentary copper basins. With over 16,000km² of licence applications in the Chu-Sarysu Basin – the largest land-holding position in the region – we are poised to become one of the most significant global copper exploration stories. “This partnership marks an excellent addition to our growing copper exploration portfolio to further accompany the rapidly advancing Western Forelands licences adjacent to Kamoa-Kakula. Western Forelands underpins the next stage of our aggressive copper production growth story, and we expect to update the market on these exciting exploration efforts in the Democratic Republic of Congo shortly.” Kazakhstan sees mining and quarrying as pivotal to its economy, contributing around 14% to its gross domestic product and 17.5% to its exports, equivalent to around $10.5bn (KZT5.23trn). The country offers an economically advantageous environment for mineral exploration and mining, characterised by a skilled workforce and comparatively low operational costs for both labour and energy.
mining
Feb 13, 2025