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Khan project exceeding Madison CEO’s expectations

Published: 08 May 24

Uranium exploration and development company Madison Metals CEO Duane Parnham has said the latest findings from the company’s Khan uranium exploration project at Madison West, in the Erongo uranium province of Namibia, have exceeded expectations. “We are on the cusp of something remarkable,” he said on May 7, following a recent visit to the site.

West Red Lake announces C$30m bought-deal offering

Published: 08 May 24

West Red Lake, the owners of the Madsen gold mine in Ontario, has announced a C$30-million bought deal public offering of units. The TSX-V-listed firm entered into an agreement with Raymond James as sole bookrunner to purchase 27.78-million units and 11.24-million charity flow-through units at C$0.72 per unit and C0.89 per charity flow-through unit.

De Grey raises A$600m for WA gold project

Published: 08 May 24

Western Australian gold explorer and developer De Grey Mining has launched a fully underwritten A$600-million equity raising, derisking the equity component of the financing for the Hemi project. The equity raising comprises a A$344-million institutional placement and a 1 for 7.95 prorata accelerated nonrenounceable entitlement offer to raise A$256-million.

Australia to spend A$566m on mapping out resource deposits

Published: 08 May 24

Australian Prime Minister Anthony Albanese has announced an investment of A$566-million over the next decade to bolster geoscientific research across the nation. The Geoscience Australia-led initiative, welcomed by industry bodies such as the Minerals Council of Australia (MCA) and the Association of Mining and Exploration Companies (Amec), aims to unlock the vast potential of Australia’s untapped geological resources.

B2Gold says Goose project slightly behind schedule

Published: 08 May 24

Development of the Goose openpit and underground project, in Nunavut, is running slightly behind schedule, with the first gold pour pushed out by one quarter. Senior gold producer B2Gold explains that the project is behind schedule owing to equipment availability, adverse weather conditions and prioritisation of critical path construction activities.

Freeport is preparing to ship as much as 900 000 t of copper concentrate from its Grasberg mine

Indonesia says it will extend copper export permits for Freeport, Amman

Published: 08 May 24

Indonesia will extend copper concentrate export permits for Freeport Indonesia and Amman Mineral Nusa Tenggara, President Joko Widodo told reporters on Wednesday, adding that details of the extensions were still being worked out. Both Freeport Indonesia and Amman are building copper smelters expected to start operation in June. But the companies have said the new smelters would need months to ramp up capacity to absorb their copper concentrate output.

Firebird advances feasibility of manganese sulphate production in China

Published: 07 May 24

Australia’s Firebird Metals has announced promising results from its feasibility study for the production of battery grade manganese sulphate in China. The study, focused on the first stage of production, uses third-party manganese ore and yielded “excellent” outcomes. The study, Firebird says, validates its China-based lithium manganese iron phosphate (LMFP) growth strategy, which aims to establish itself as a low-cost producer of battery-grade high-purity manganese sulphate and high-purity manganese tetra oxide. Both are key cathode materials in LMFP batteries for electric vehicles.

Zimbabwe aims to use FDI to develop a competitive economy by 2030

Published: 07 May 24

Zimbabwe held an investment conference on May 2 and 3 in South Africa during which its officials explained that the country of 16-million people wants to use local and international investments into key sectors of its economy to further develop the country by 2030. This objective is encapsulated in its National Strategy Vision 2030 and, to attract investors, the country has entered into negotiations to settle compensation claims linked to land seizures from farmers two decades ago, as well as to settle its international debt default to tap into international finance markets.

Marula appoints young local professional as Larisoro mine manager

Published: 07 May 24

UK- and South Africa-listed Marula Mining has appointed local professional Benard Kiprotich as mine manager for the Larisoro manganese mine, in Kenya, which is managed by Marula’s wholly-owned subsidiary Muchai Mining Kenya. His appointment follows the company partnering with Kenyan manganese mine operator Gems and Industrial Minerals to buy new processing and mining equipment for the operation, as well as undertake an exploration programme.

Atlantic achieves positive drilling results at Ewoyaa target

Published: 07 May 24

Africa-focused lithium exploration and development company Atlantic Lithium has reported that initial assay results from the drilling completed so far this year at its Ewoyaa project, in Ghana, have delivered impressive intersections, providing confidence in the growth potential of the current 35.3-million-tonne lithium oxide resource. Executive chairperson Neil Herbert explains that these results are from the new Dog-Leg target, located on the northern tip of the Ewoyaa Main deposit, outside of the current mineral resource estimate (MRE), where drilling has returned multiple high-grade and broad near-surface extensional intersections, including 27 m at 1.85% lithium oxide from 126 m in these most recent results.