Sibanye falls to $2 billion loss, weighs capital raise if metal prices worsen
Sibanye Stillwater on Tuesday reported a $2 billion annual loss and scrapped its final dividend, hurt by a slump in platinum group metal (PGM) prices that is forcing South African mining companies to restructure and cut jobs.
-
-
Visit: 72
Gold Fields eyes rapid ramp-up at new Chile mine, lifts output forecast
South Africa’s Gold Fields on Thursday raised its 2024 gold output forecast to between 2.33 million and 2.4 million ounces, saying it expects a rapid production ramp-up at its new Salares Norte mine in Chile, which comes online in April.
-
-
Visit: 95
Raising capital now biggest risk to mining companies after ESG
Mining News Pro - Global mining and metals executives still view environment, social and governance (ESG) as the top risk facing their business over the next 12 months, but access to capital has now also become a major worry, according to a new report from EY.
-
-
Visit: 166
Camino to partner with Japan’s Nittetsu at Los Chapitos copper project in Peru
Mining News Pro - Camino Corp. has signed a letter of intent to partner with Japan’s Nittetsu Mining Co. at its Los Chapitos copper exploration project in Peru. Nittetsu currently operates the Atacama Kozan copper mine located in northern Chile that was developed from an iron oxide copper gold (IOCG) deposit style similar to Camino’s Los Chapitos project.
-
-
Visit: 234
Crypto miners in Russia capitalize on the bear market by hoarding ASIC devices
Mining News Pro - Miners in Russia have likely been increasingly buying crypto ASICs due to reduced prices of mining devices as well as low-cost energy.
-
-
Visit: 376
Mining firms poised to lead capital raisings in Canada
Mining News Pro - Mining companies seeking to accelerate exploration of scarce critical minerals are set to lead capital raisings in Canada this year, the chief executive officer of the Toronto Stock Exchange said on Monday, as sectors such as technology take a back seat amid market volatility.
-
-
Visit: 702
Vale creates $100 million venture capital arm to spur mining innovation
Mining News Pro - Vale SA, the world’s No. 2 iron ore producer and one of the biggest nickel suppliers, has created a corporate venture capital arm to back startups focused on developing game-changing innovations for mining and metals challenges.
-
-
Visit: 590
6 key drivers shaping China’s steel market amid the latest COVID-19 surge
Mining News Pro - China's steel production is expected to rise in April, but supply chain disruptions and logistics hurdles across may parts of the country could continue to undermine end-user steel demand.
-
-
Visit: 553
Miners gather in copper capital facing ‘another world’ of tumult
Mining News Pro - The last time the copper industry gathered in Santiago, prices were below $3 a pound amid concerns over a slowdown in Chinese demand, and there was little talk of supply-chain woes or inflation.
-
-
Visit: 359
Ecuador court revokes Cornerstone Capital’s exploration permit
Mining News Pro - Ecuador’s Constitutional Court has backed the revocation of the environmental permit for Canada’s Cornerstone Capital Resources, which has been exploring in the country since 2005.
-
-
Visit: 858
Oxin Steel: Producing API 5LX80PSL2 sheets for the first time in Middle East
Mining News Pro - Chief executive of Khuzestan Steel Company announced the production of API 5LX80PSL2 sheets for the first time in Middle East.
-
-
Visit: 756
Oxin Steel’s API sheets are able to conquer EU’s market
Mining News Pro - A member of the board of Oxin Steel Company visited the newest API sheet production line.
-
-
Visit: 806
Capital formation constraints could ultimately stunt EV revolution
Mining News Pro - The rapid onset of the green energy revolution could be stunted by pervasive structural issues in the finance sector spilling over to mining. It hinders capital formation, especially for junior mineral explorers, CPM Group managing partner Jeffrey Christian recently told The Northern Miner’s Global Mining Symposium.
-
-
Visit: 389
Appian Capital in talks to sell Atlantic Nickel for $1bn
Mining News Pro - London-based private equity fund Appian Capital is said to be in advanced negotiations to sell its Atlantic Nickel unit in Brazil for around $1 billion, with Canada’s Teck Resourcescited as one of the likely buyers.
-
-
Visit: 375
TFR approaches customers on security levy to raise funds for rapid security overhaul
Mining News Pro - Transnet Freight Rail (TFR) is approaching its customers about instituting a three-year security levy, which will be used to raise the funding needed for the rapid deployment of technology-based security solutions across a network that is currently collapsing under the strain of intensifying theft and vandalism.
-
-
Visit: 756
Mobarakeh Steel Co. among the few producers of API slab in the world
Mining News Pro - Deputy of operation on MSC mentioned that this company is the only producer of API slab in Iran.
-
-
Visit: 663
Jervois completes A$313m capital raise
Mining News Pro - Jervois Global has closed the retail component of its entitlement offer, raising A$178-million.
-
-
Visit: 337
Jervois nears capital raise targets
Mining News Pro - Triple listed Jervois Mining has completed A$135-million of it’s A$313-million capital raise.
-
-
Visit: 517
China’s imports are reshaping the global aluminum market
Mining News Pro - China imported a further 158,000 tonnes of primary aluminum in June, bringing the half-year tally to 744,000 tonnes.
-
-
Visit: 450
Goldman recapitulates $5 a pound copper price by end of 2021
Mining News Pro - In a new research note, Goldman Sachs says the copper price is “poised for the next leg higher” as short term headwinds fade and fundamentals point to a significant demand boost further out.
-
-
Visit: 507
Yamana to expand Jacobina at fraction of original capital estimate
Mining News Pro - Canadian gold miner Yamana Gold has significantly lowered the capital expenditure (capex) estimate for the expansion of its Jacobina mine, in Brazil, with the project now expected to cost no more than $15-million to $20-million.
-
-
Visit: 480
Australian coal miners recapitalise, eye BHP assets and other M&A
Mining News Pro - Buoyed by a rebound in the price of coal, Australian miners of the resource are dusting off expansion plans and raising capital for new projects and acquisitions.
-
-
Visit: 421
GBM handballs Mt Morgan for Canadian capital
Mining News Pro - GBM Resources has initiated the sale of the Mt Morgan gold-copper project in Queensland to Canadian-based Smartset Services to focus more attention on its Drummond Basin gold assets.
-
-
Visit: 482
Salt Lake launches A$28m capital raise
Mining News Pro - Potash developer Salt Lake Potash will raise A$28-million through a share placement to enable the final debt drawdown and access to additional funding through a bank guarantee provided by financier Sequoia Economic Infrastructure Income Fund (SEQI).
-
-
Visit: 928
Venture Minerals to capitalise on strong iron ore market
Venture Minerals has started commissioning for its wet screening plant at the Riley iron ore mine in Tasmania.
-
-
Visit: 429