Articles for tag: administration, Australian, exits, MINING.COM, potash

February 2, 2024

Ron Finklestien

mining

Australian Potash Emerges from Administration with Restructured Balance Sheet

Revamped Financials Australian Potash, a significant player in the mining industry, recently announced that the company has successfully exited the administration phase following a substantial restructuring of its balance sheet. Managing director and chief executive, Matt Shackleton, expressed his optimism, stating, “The company’s balance sheet has been significantly restructured with all previous trade creditors and other payables agreeing to the settlement terms proposed in the deed of company arrangement presented on Jan. 19.” Operational Strategies In addition to the restructuring, Australian Potash has re-evaluated all previous results at the Lake Wells gold project, identifying walk-up drill targets for immediate action.

January 23, 2024

Ron Finklestien

mining

Codelco’s Strategic Move into Lithium Market Codelco’s Strategic Move into Lithium Market

The Maricunga project, located within the so-called lithium triangle in northern Chile, is estimated to contain about 1.9 million tonnes of lithium carbonate equivalent (LCE). The transaction, which now only needs the Federal Court of Australia’s backing, is expected to conclude on Feb. 23, Codelco said. Chairman Máximo Pacheco expressed enthusiasm about the purchase, stating, “With this purchase, Codelco moves forward with its mandate of becoming leaders in the production of critical minerals for the energy transition.” Chile gave the copper giant a key role in the new public-private model for the sector, announced in April last year, which calls