Articles for tag: Gold, Greatland, Havieron, million, Newmont, sells, stake, Telfer

September 20, 2024

Ron Finklestien

mining

Striking Gold: Greatland Gold Acquires Telfer, Havieron Stake from Newmont for $475 Million

Newmont’s Divestiture Program Gains Traction Newmont’s bold divestiture program gained momentum with the recent sale of Telfer and Havieron to Greatland Gold for a substantial $475 million. These assets were part of a strategic move devised by Newmont earlier this year, including the likes of Éléonore, Musselwhite, Porcupine, CC&V, and Akyem mines. Greatland Gold’s Promising Predicament The acquisition marks a significant step for Greatland Gold, positioning them favorably to take charge of the Havieron gold-copper project. This endeavor, initiated back in 2018 and a focus of Australian junior’s efforts, is set to align with existing infrastructure from the Telfer mine.

May 30, 2024

Ron Finklestien

mining

Epiroc buys remaining stake in autonomous solutions provider ASI Mining

In 2023, ASI had revenues of about 300 million Swedish crowns ($28 million) in 2023. “Epiroc and the innovative team at ASI Mining are already collaborating closely to bring the most advanced automation solutions to mining customers,” says Helena Hedblom, Epiroc’s president and CEO. “We look forward to complementing their solutions fully with our offering and together continue supporting customers on their automation journey.” The acquisition of the remaining share requires regulatory approval from US competition authorities, and is expected to be completed in the third quarter 2024. The parties have agreed not to disclose the purchase price as the

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

Kenorland stock surges as Centerra Gold takes 9.9% stake

Centerra made the investment through a private placement arranged by Kenorland, under which it plans to issue approximately 8.3 million flow-through common shares to national, Quebec- and Manitoba-based subscribers at different prices. Total proceeds to the company is estimated at C$9.86 million, based on an average issue price of C$1.186 per share. Kenorland said will use the funds to advance its group of exploration-stage projects across Canada, many of which are under partnerships. The company is already working with Centerra on the Hunter project in Quebec, in which the latter can earn an initial 51% interest by spending C$5 million

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

March 25, 2024

Ron Finklestien

mining

Central Asia Metals Embraces Aberdeen Minerals

A Reinvigorated Exploration Ventures Central Asia Metals (CAM) has made a strategic move by acquiring a significant 28% stake in Aberdeen Minerals, a promising junior raw battery materials explorer in Aberdeenshire, Scotland. Holding a 7,400-hectare land package, Aberdeen Minerals has already uncovered a copper-nickel-cobalt deposit at its Arthrath project, an area originally unveiled by Rio Tinto back in 1968. This partnership signifies a bold step towards fostering exploration ventures, breathing new life into the dormant mining potential of the region. UK’s Critical Materials Prospects Last year, the British Geological Survey (BGS) released a comprehensive report pinpointing key areas in the

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

January 24, 2024

Ron Finklestien

mining

Ghana secures 5% stake in Atlantic Lithium

Ghana’s Significant Investment in Atlantic Lithium Ghana’s Strategic Move Recently, Ghana Investment Funds for Electronic, Electrical and Automotive Industries (MIIF) has taken a substantial 5% stake in Atlantic Lithium. Not stopping there, the move also grants MIIF a remarkable 6% in Ewoyaa, a mining project with auspicious prospects. Ewoyaa is anticipated to churn out an annual average of 3.6 million tonnes of spodumene concentrate or 350,000 tonnes, over its 12-year mine life. This propels it to a position among the world’s 10th-biggest projects according to Atlantic Lithium. Captaining this strategic ship, Edward Nana Yaw Koranteng, the CEO of MIIF, declared,

January 19, 2024

Ron Finklestien

mining

Wesdome’s Acquisition of Stake in Ontario-focused Angus Gold

Wesdome’s Strategic Move In a bold strategic move, Wesdome, the Toronto-headquartered gold producer, has acquired a 10.6% stake in Angus Gold, an Ontario-focused mining company. This acquisition establishes Wesdome as a significant stakeholder in Angus Gold, reinforcing its commitment to the region’s mining activities. Joint Elite Ownership Wesdome now joins forces with two other distinguished shareholders in Angus Gold. Delbrook Capital Advisors and New Gold (TSX: NGD) possess 16.4% and 9.9% equity ownerships, respectively. This union of elite stakeholders augurs well for the future prospects of Angus Gold. Capital Infusion and Utilization Angus Gold is set to receive approximately C$4.64