South African stocks rose on Friday as demand for safe-haven investments increased amid rising worries about global economic growth. Gold mining companies and other gold-related stocks were the biggest beneficiaries as gold prices gained amid increased risk-off sentiment. Investment holding companies were also among the top gainers, with investors seeking refuge in these companies’ assets,…
Rio Tinto has awarded Civmec, an Australian engineering and construction firm, with a contract worth over $228 million (AUD) for work on the Western Range iron ore project in the Pilbara region of Western Australia. The contract covers the construction of process facilities, non-process infrastructure, and associated works. The Western Range project is part of…
On Tuesday, aluminum producer Alcoa (NYSE: AA) officially announced its decision to cease production at the financially unsustainable Kwinana refinery in Western Australia, bringing an end to over six decades of operations. The company attributed the decision to challenging market conditions and the facility’s aging infrastructure, leading to the unfortunate consequence of over 750 employees…
Japan is set to subsidize half the costs of lithium and other critical minerals projects, according to a report by Reuters. The Japanese government has reportedly been in talks with the private sector to secure supplies of lithium, cobalt, and other metals used in electric vehicle batteries. The government is said to be offering subsidies…
On April 30th, 2020, the Perth-based mining company Essential Metals Ltd (Essential Metals) rejected a takeover bid from Tianqi Lithium Corporation (Tianqi Lithium) and IGO Ltd (IGO). The bid sought to acquire all of Essential Metals’ shares at a price of $0.082 per share. Essential Metals is an exploration and development company that is focused…
Bluestone Resources (TSXV: BSR) witnessed a twofold increase in its shares following Guatemala’s approval of a shift in the Cerro Blanco gold project’s strategy, transitioning from underground to an open-pit operation. The company is also contemplating a potential sale of the project. As of midday Wednesday in Toronto, Bluestone’s stock was trading at C$0.47, placing…
A downturn in some of the highly touted energy-transition metals is causing disruptions throughout the mining sector. This has led to project delays, thwarted deals, and a race for funding that is poised to impact the industry for years. Lithium, a crucial metal for electric-vehicle batteries, has experienced an over 80% drop from its late-2022…
Europe’s first lithium mine has agreed to merge with Sizzle SPAC, a special purpose acquisition company (SPAC), in a deal that will give the mine a market value of $1.4 billion. The deal, which was announced on April 5, 2021, will see the lithium mine, called Bacanora Minerals Ltd., become a publicly traded company. Bacanora…
Metallic Minerals Corp. has signed a production royalty agreement with celebrity miner, Dakota Fred Hurt, that will allow Metallic Minerals Corp. to conduct exploration, development and mining operations on Hurt’s gold claims in the Yukon. The exciting development is expected to boost Metallic Minerals’ presence in the Yukon gold rush. Metallic Minerals will now have…
Toronto Stock Exchange (TSX) CEO Lou Eccleston has said that mining firms are likely to lead capital raisings in Canada in the near future. In an interview with Bloomberg TV Canada, Eccleston said that the TSX is seeing a lot of exploration activity, particularly in precious metals and base metals. He noted that many companies…