Vedanta Resources Ltd has approached trading houses as it seeks to raise capital to revive the Konkola copper mining and smelting complex in Zambia. Billionaire Anil Agarwal’s Vedanta has discussed tolling and prepayment facilities with commodity traders, including Mercuria Energy Group, for output from Konkola Copper Mines Plc, according toContinue Reading
Chinese miner CMOC’s first-quarter copper and cobalt production was up by 123% and 392% respectively, it said on Monday. The company, which mines copper and cobalt in the Democratic Republic of Congo, produced 147,500 metric tons of copper and 25,200 tons of cobalt in the first three months of theContinue Reading
As projections for all the copper needed in the clean-energy transition help send prices of the wiring metal to two-year highs, a new report highlights the risks to future metal supplies from climate change. Even in an optimistic low emission scenario for 2050, more than half the world’s copper minesContinue Reading
South Africa’s Harmony Gold on Tuesday raised its gold output forecast for the year to June 2024 by nearly 5% due mainly to higher metal grades, which will also boost earnings per ton of ore processed and cut costs per ounce produced. In a production update, Harmony said it expectsContinue Reading
Barrick Gold (TSX: ABX; NYSE: GOLD) faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ties to Russia. The operator of the Loulo-Gounkoto gold complex in the West African country increased tax, royalty and dividend payments to the government by almost half toContinue Reading
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off bidder BHP, as activist investor Elliott further raised the stakes by increasing its holding in the takeover target. BHP, the world’s biggest listed mining group, is privately talking to investorsContinue Reading
A takeover of Anglo American Plc would need to be pitched at more than £30 ($37.6) per share, a higher price than BHP Group Ltd. offered last week, according to analysts and traders surveyed by Bloomberg. Anglo American shares are trading 8.8% above the value of BHP’s rebuffed takeover proposal, aContinue Reading
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general meetings despite calls for public companies to return to an in-person format. After Barrick hosted its latest virtual-only AGM on Tuesday, CEO Mark Bristow said he “can’t see any reason” to return toContinue Reading
M23 rebels in eastern Democratic Republic of Congo have taken control of Rubaya, a key mining town for the smartphone mineral coltan, following days of intense fighting, a rebel spokesman said. Congo’s east has been plagued by violence since the 1990s, killing millions as struggles over national identity, ethnicity, andContinue Reading
Zimbabwe’s only operating nickel mine was on Thursday placed under administration, according to a government notice, seven months after halting production due to equipment failure and low prices. Zimbabwe’s government owns 70% of Bindura Nickel Corporation’s Trojan nickel mine which employs about 1,100 people according to Bindura’s latest annual report.Continue Reading
