Articles for tag: BHP, deal, disaster, Mariana, Samarco, seek, Vale

April 24, 2024

Ron Finklestien

mining

Vale, BHP, and Samarco seek new deal on Mariana disaster

The collapse of the dam in Mariana left 19 dead when approximately 40 million cubic meters of mining waste destroyed communities and contaminated the Doce River.  It was the biggest environmental disaster ever in Brazil. Negotiations for reparation for the environmental disaster resumed this week after the Brazilian government and the states rejected the value of R$40 billion ($7.75 billion) offered by the companies in December. The government and the states are demanding approximately R$120 billion ($23.3 billion). To this day, none of the 12 lawsuits regarding the disaster have been judged. According to the Federal Public Prosecutor’s Office (MPF), the

April 19, 2024

Ron Finklestien

mining

The Tale of Saudi Arabia’s Potential Investment in Reko Diq

Saudi Arabia Eyes Stake in Reko Diq Speculations are rife about Saudi Arabia’s interest in snagging a significant stake in Reko Diq, a mineral-rich project enticing international investors. The potential deal involves the Saudi company gradually boosting its involvement in Reko Diq, a venture where the Pakistani government holds a 25% stake, with the remaining 25% belonging to the Balochistan province. Early Talks Amidst Uncertainties Sources closely tied to the matter have disclosed that discussions are merely at a nascent stage and could either crumble like a house of cards or witness a temporary hiatus. The backdrop paints a picture

April 19, 2024

Ron Finklestien

mining

The Path of Gold: Reunion Gold Strikes Deal with Guyana Government

A Step Forward in Guyana In a momentous move, Reunion Gold has taken strides towards solidifying its presence in northwest Guyana. The company is gearing up for a crucial construction decision, with an eagerly anticipated preliminary economic assessment slated for mid-year. This pivotal development signals a significant de-risking phase in the journey towards realizing the Oko West project. Rick Howes, the CEO, underscored the unwavering support from the government of Guyana as they navigate the project’s development landscape. Discovery and Confirmation Unearthed during Reunion’s inaugural drill program in 2021, Oko West sits snugly to the south of the revered “Oko”

February 7, 2024

Ron Finklestien

mining

Pilbara Minerals Strikes New Offtake Deal with Chengxin Pilbara Minerals Strikes New Offtake Deal with Chengxin

Adding a new page to its expanding business, Pilbara Minerals has emerged triumphant in developing and securing an upgraded off-take deal with Chengxin. The revised agreement spans a hearty schedule, encompassing sales of 85,000 tonnes in calendar 2024, followed by 150,000 tonnes in both 2025 and 2026, greatly expanding and prolonging the deal until 2026, the miner cheerily announced. The sales to Chengxin, a key supplier to renowned companies such as Hyundai Motor, CATL, BYD and LG Chemical, will be conducted based on the prevailing market price, congruent with the existing agreement, the Australian miner revealed, brimming with optimism. Not

January 10, 2024

Ron Finklestien

mining

Manganese X Energy Seals MOU with US Battery Tech Firm for Potential Offtake Deal Manganese X Energy Seals MOU with US Battery Tech Firm for Potential Offtake Deal

Photo of the sample being pre-qualified by C4V. Credit: Manganese X EnergyThe signing of the memorandum of understanding (MOU) between Manganese X Energy and US-based battery technology firm C4V marks a significant milestone for the former’s mission to establish itself as a sustainable and dependable North American supplier of high-purity manganese for electric vehicle (EV) batteries. The MOU could potentially pave the way for a global supply agreement. Manganese X Energy’s proprietary manganese purification technology, utilized in the pilot plant project at its Battery Hill property, aims to produce EV-compliant high-purity manganese sulfate monohydrate (HPMSM), serving as a precursor to