Articles for tag: Anglo, Asian, Gilar, mines, ore

March 24, 2025

Ron Finklestien

mining

Anglo Asian Mining Initiates Ore Extraction at Gilar Project

Anglo Asian Mining Begins Ore Extraction at Gilar Mine in Azerbaijan Anglo Asian Mining (LON: AAZ) announced on Monday the successful extraction of its first ore from the new Gilar underground operation at the Gedabek site in Azerbaijan. Mining operations commenced earlier this month, with an initial yield of 1,267 tonnes of ore. This marks a significant step in the company’s strategy to position itself as a mid-tier copper producer. Resource Estimates and Production Goals A maiden JORC mineral resource estimate released in December 2023 revealed that the Gilar deposit holds 6.1 million tonnes of resources. Average grades are reported

February 19, 2025

Ron Finklestien

mining

“New Gold Prolongs Operational Lifespan of New Afton and Rainy River Mining Projects”

New Gold’s Rainy River mine is located 65 km northwest of Fort Frances, Ont. (Image courtesy of New Gold) New Gold Enhances Mining Operations with Extended Mine Lifespan New Gold (TSX: NGD) (NYSE American: NGD) has successfully extended the operational life of its New Afton mine in British Columbia and Rainy River mine in Ontario through several strategic technical growth projects implemented over recent years. Growth in Gold and Copper Reserves Increases in reserves are notable at New Afton, where copper and gold reserves have risen by 15% and 13%, respectively, compared to the end of 2024. This boost is

February 2, 2025

Ron Finklestien

mining

NGOs expose surge in new metallurgical coal mines

“Financial institutions need to wake up and stop bankrolling the reckless expansion of this industry,” Heffa Schuecking, director of Urgewald said in a statement.  She said that hundreds of financial institutions are already using Urgewald’s Global Coal Exit List (GCEL) to restrict their financial flows to the thermal coal sector. “The MCEL is a new sister database that focuses exclusively on metallurgical coal and highlights which companies are planning new mines or extensions,” she said. Global emissions fight As the Paris Agreement marks its 10th anniversary, the target of limiting global temperature rise to 1.5°C feels increasingly unattainable. The iron and

May 30, 2024

Ron Finklestien

mining

CITIC Metal to sell up to 2% stake in Ivanhoe Mines

In a press release via the Shanghai Stock Exchange, CITIC said it has received board approval to sell at most 25,390,428 shares, or 2% of Ivanhoe’s outstanding share capital. Shareholder approval for the divestment will be sought in a meeting scheduled for June 11. Assuming CITIC gains the approval and sells the maximum amount, it will then hold approximately 289.3 million shares, for a 22.78% shareholding in Ivanhoe. The announcement by CITIC comes at a time when the Canadian government is placing higher surveillance on foreign money flowing into its critical minerals sector, with extra scrutiny on those coming from China.

May 22, 2024

Ron Finklestien

mining

Six new large mines need to come online annually by 2050 to meet global copper demand – study

This is particularly the case taking into account that the Inflation Reduction Act, signed into law in 2022, calls for 100% of cars manufactured to be electric vehicles by 2035. But an electric vehicle requires three to five times as much copper as an internal combustion engine vehicle — not to mention the copper required for upgrades to the electric grid. “A normal Honda Accord needs about 40 pounds of copper. The same battery electric Honda Accord needs almost 200 pounds of copper. Onshore wind turbines require about 10 tons of copper, and in offshore wind turbines, that amount can

April 20, 2024

Ron Finklestien

mining

Rio Tinto’s Emphasis on Developing Copper Mines over Acquisitions Rio Tinto’s Emphasis on Developing Copper Mines over Acquisitions

Amidst the fervor of copper production expansion, Rio Tinto is steering its focus towards the development of mines in Mongolia, Utah, and beyond, amplifying its global exploratory endeavors. The mining giant has forged a noteworthy partnership with Codelco, the titan of copper production based in Chile, marking a strategic move in the lucrative realm of copper mining. Asserting an organic growth trajectory, Arnaud Soirat, Rio Tinto’s impending chief commercial officer, underlines a future rooted in advancing in-house production. “For us, the focus is organic growth, supply growth and where in projects can we partner rather than necessarily acquiring an existing

March 28, 2024

Ron Finklestien

mining

Impressive Surge in MAG Silver Stocks Amid Juanicipio Mine’s Resource Update Emphatic Uptick in MAG Silver Stocks as Juanicipio Mine Resource Report Breaks

Project Commencement Signals Prosperous Era Embarking on a trajectory toward commercial production in June 2023, the Juanicipio mine finds its abode nestled in the pulsating Fresnillo silver trend of Mexico. In a symbiotic ownership structure, MAG carves out a 44% niche, while Fresnillo plc, the deft operator, reigns over the remaining 56%. Bountiful Harvest of Silver Sets a New Benchmark The mine’s efforts in 2023 bore fruits to the tune of 16.8 million ounces of silver. A windfall by any measure and a testament to the mine’s productivity. Untapped Potential Sparks Investor Frenzy In a riveting development, MAG Silver proclaimed,

March 27, 2024

Ron Finklestien

mining

The Environmental Impact of Congo’s Copper and Cobalt Mines

Local Communities Struggle Amidst Toxicity Residents living near Congo’s copper and cobalt mines are facing dire consequences from water contamination. Skin ailments are prevalent, with particular concern for the health of children. Severe Economic Hardships and Health Challenges A staggering 99% of respondents reported reduced crop yields due to water pollution, leading to significant economic challenges. This has forced 59% to limit their food consumption to one meal per day and withdraw children from school due to financial constraints. Furthermore, 75% of individuals stated they could no longer afford healthcare or medicine. Source: RAID Advocates Call for Responsible Practices Emmanuel

February 26, 2024

Ron Finklestien

mining

The Golden Gamble: Acquisition of Newmont’s Stake in Éléonore South by Fury Gold Mines

Unlocking Potential in Quebec’s Gold Fields Exploration in mineral-rich areas always holds a promise of unearthing hidden treasures, and Fury Gold Mines seems poised to revel in this hunt. The recent acquisition of Newmont’s 50% stake in the Éléonore South project in Quebec marks a pivotal moment in the company’s quest for expansion and excellence. Strategic Moves in a Shifting Landscape Strategic decisions in the mining world can often make or break a company’s fortunes, and Newmont’s move to divest its non-core assets is a prudent step towards streamlining operations. The sale of key assets, including Éléonore in Quebec, reflects

February 8, 2024

Ron Finklestien

mining

JV Video: Updates on Fury Gold Mines’ Work and Newmont JV

Bryan Atkinson, senior vice-president exploration with Fury Gold Mines, at the Vancouver Resources Investment Conference in January. Credit: The Northern Miner Fury Gold Mines (TSX: FURY) is working on a resource update at its flagship Eau Claire project in Quebec, says Bryan Atkinson, senior vice-president of exploration. But the project, where recent drilling returned 3.5 metres of 31.7 grams gold per tonne at the Hinge target, isn’t the only one Fury expects to advance this year. Sign Up for the Precious Metals Digest