Articles for tag: Anglos, BHP, bid, demands, investor, largest, revision

May 22, 2024

Ron Finklestien

mining

Anglo’s second largest investor demands BHP bid revision

“This would require a meaningful revision of the current BHP proposal that should take into consideration the material risks that current shareholders of both Anglo and its subsidiaries would have to assume,” the PIC said in the statement. “The PIC recognizes the positive impact of Anglo American in the South African economy and the region at large, and the company’s role in this regard should not be diminished as a result of the proposed offer by BHP,” it said.  Anglo American has twice rejected BHP’s approach, which would imply for Anglo to spin off its stakes in two South African

April 21, 2024

Ron Finklestien

mining

Study hints Predictive Discovery’s Bankan project could be Guinea’s ‘largest gold mine’

“Completion of the PFS now confirms the project is not only one of the largest gold discoveries in West Africa for a generation, but also a future Tier-1 gold mine,” Predictive managing director Andrew Pardey said during an April 15 conference call. “It can become Guinea’s largest gold mine,” he said. West Africa, including Guinea, is seeing a surge in mining activities, with both expansions of existing mines and new exploration interests. In Guinea, significant growth in gold mining can be seen, highlighted by projects like the Kiniero gold project. Robex Resources (TSXV: RBX) is redeveloping the historical mine with

April 20, 2024

Ron Finklestien

mining

The Great Gold Caper: Unraveling Canada’s Biggest Heist

Uncovering the Heist Canada had its own real-life “Goldfinger” saga with a daring heist back in April at Pearson Airport, the country’s bustling hub, where thieves brazenly made off with potentially over C$20 million in gold from a cargo storage area. Swiss giants Raiffeisen Schweiz Genossenschaft and Valcambi SA entrusted Brink’s with the precious cargo’s transportation from Zurich to Toronto, a move that would soon turn into an international scandal. The Twist in the Tale In a classic turn of events, Brink’s then engaged Air Canada to fly the valuable treasures across the two cities. However, in a surprising development

February 23, 2024

Ron Finklestien

mining

Zijin’s Ambitious Expansion Plans for Tibet Copper Mine Zijin’s Ambitious Expansion Plans for Tibet Copper Mine

Zijin’s Major Investment in Tibet Zijin has recently announced its grand ambitions to expand its presence in the Tibetan mining sector. The total investment required for the project has been estimated at 17.5 billion yuan ($2.43 billion). Scaling New Heights in Production If local authorities greenlight the third phase of expansion, Zijin’s Julong project could potentially elevate annual output to a staggering 200 million tons. This would firmly place it as the world’s largest single copper mine, a significant milestone for the company. Swift Execution and Capturing Markets In a move that underscores Zijin’s operational prowess, the company swiftly took

January 29, 2024

Ron Finklestien

mining

Barrick’s Kibali Gold Mine Shines as a Model of Sustainability Barrick’s Kibali Gold Mine Shines as a Model of Sustainability

Barrick’s Positive Impact on the Democratic Republic of Congo Mark Bristow, the CEO of Barrick Gold, lauded the Kibali Gold Mine in the Democratic Republic of Congo (DRC) as a pioneer in responsible mining practices. He emphasized the mine’s leadership in automation and its exemplary role in setting sustainable mining standards in Africa. Bristow highlighted the significant economic contribution of the mine to the remote northeast region of DRC, where it has initiated a robust local economy. Investment made by Barrick in the DRC, including royalties, taxes, dividends, and payments to local suppliers, has totaled a substantial $4.7 billion. Additionally,

January 23, 2024

Ron Finklestien

mining

Nevada Sunrise’s Gemini: A Game-Changer in US Lithium Resources

The Discovery Unveiled Striking gold in the mining world, Nevada Sunrise, with no small degree of pride, revealed the results of their drilling in the Gemini property. A treasure trove in the Lida Valley, the drilling brought to light clays mineralized with lithium, showcasing stellar geological continuity. The inference? An impressive resource estimation for lithium carbonate dwelling within the clays. Staggering Figures The numbers are almost fantastical. The drilling unearthed approximately 1.3 million tonnes of lithium, which translates to a whopping 7.1 million tonnes of lithium carbonate equivalent. All this, neatly ensconced within 1.2 billion tonnes of mineralized clay, boasting