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AIC secures mining lease for Jericho, sets pathway for expanding Eloise copper output

Published: 17 May 24

The Queensland government has granted AIC Mines a mining lease for the Jericho copper mine, paving the way for surface works to get under way in preparation for mining. Development of Jericho will transform the Eloise mine, near Cloncurry, into a cornerstone asset for AIC Mines, providing a pathway to expanding production to 20 000 t/y of copper and 10 000 oz/y of gold in concentrate.

Muddy Waters will not compensate its nominees on Canadian miner Mayfair as shareholder vote looms

Published: 17 May 24

hort seller Muddy Waters Capital said on Thursday that none of its newly proposed directors for Canadian miner Mayfair Gold's board will receive any remuneration, in contrast to what it called the "inappropriate compensation" earned by the company's existing directors. Muddy Waters is seeking to replace Mayfair Gold's current board and replace its members with Muddy Water executives, saying the board was delaying the advancement of its key Fenn-Gib gold project and calling out the company's compensation structure.

US to offer up to $3.4bn for nuclear fuel makers in June

Published: 17 May 24

The US plans to start soliciting bids worth as much as $3.4-billion to buy domestically produced nuclear reactor fuel as soon as next month, according to a government notice. The funding includes $2.7-billion requested by the White House as part of a broader plan to help restart the domestic nuclear fuel production industry through direct purchases of the low-enriched uranium used in reactors. The government aid was unlocked after President Joe Biden signed a ban on imports of enriched uranium from Russia, which provides about a quarter of the reactor fuel in the US, making it the nation’s top supplier.

Biden open to easing sanctions on billionaire Gertler in return for Congo exit

Published: 17 May 24

The US government is open to easing sanctions on billionaire mining magnate Dan Gertler if he gives up his business operations and assets in the Democratic Republic of Congo, where Washington’s interest in critical minerals has run up against his problematic royalties ownership. The Treasury Department is willing to grant limited sanctions relief to Gertler, an Israeli citizen, as a way to incentivize his complete exit from Congo, including relinquishing his royalty streams on three strategic projects, according to two US officials, who asked not to be identified as the talks are ongoing.

Polyhalite produced at Anglo American's Woodsmith mine

Anglo American has sought fertiliser partners for months, says CEO

Published: 17 May 24

Anglo American has been looking for partners for its fertiliser project in North Yorkshire for around six months, CE Duncan Wanblad told Reuters, reiterating the business will be one of three pillars of the revamped miner, even as work there stalls. The London-listed miner outlined a radical plan on Tuesday to shrink by divesting less profitable coal, nickel, diamond and platinum businesses, as it moves to fend off BHP Group's $43-billion takeover offer.

Chile's Cochilco raises 2024, 2025 copper price estimates

Published: 17 May 24

The Chilean Copper Commission (Cochilco) on Thursday raised its average copper price estimates for both this year and next. Cochilco now sees average copper prices this year at $4.30/lb, from $3.85/lb before. For next year, Cochilco estimates average copper prices around $4.25/lb, up from $3.90/lb before.

Firm highlights improved safety, reliability of new actuator

Published: 17 May 24

Global technology and software company Emerson has introduced the new ASCO Series 148/149 safety valve and motorised actuator made for industrial fuel oil burner recirculation and safety shutoff applications. “The new solution provides a reliable, versatile tool for industrial users to prevent overpressure, leaks, and system malfunctions that can lead to health and safety incidents, with one configuration suited to a wide range of combustion system applications,” says Emerson discrete automation global marketing director Ali Sarwar.

Company highlights positive technological effect on market

Published: 17 May 24

Industrial equipment supplier Auma South Africa emphasises the positive impact of technology on the actuators market ecosystem. Auma's electric actuators and gearboxes are fitted onto third-party-supplied valves before distribution to end-users as an option, with a strong emphasis on maintaining good relationships with various manufacturers. All of its products are sourced from Germany and assembled in-house according to customer specifications. Auma highlights that it embraces current technology advancements, which allows users to connect through their phones or laptops in order to download extensive parameters for actuator maintenance, fault-finding and parameter optimisation. Fault reports can be promptly sent to Auma or its German counterparts for precise servicing recommendations, enhancing operational efficiency.

Foundries resilient despite challenges – organisation

Published: 17 May 24

Key industry support initiative the National Foundry Technology Network (NFTN) asserts that the health of the foundry sector has remained resilient despite significant challenges in recent years following the Covid-19 pandemic. An industry support programme hosted by the Council for Scientific and Industrial Research (CSIR) and funded by the Department of Trade, Industry, and Competition, the NFTN’s mandate is to manage, coordinate and facilitate development and transformation in the foundry sector through focused interventions designed to enable foundries to become more competitive.

Firm showcases industrial valve range

Published: 17 May 24

Industrial equipment supplier BMG has presented its range of industrial slurry valves, which has been designed to cope efficiently in harsh conditions. This range includes robust butterfly and knife gate valves, as well as diaphragm and pinch valves. “These industrial slurry valves – which meet stringent quality and safety specifications – are highly efficient for the control and isolation of abrasive slurries in many industries, including power generation, chemicals and petrochemicals, cement handling, water treatment, mining, quarrying, and pulp and paper,” highlights BMG fluid technology sales manager Susan Victor.