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Carbon removal needs to quadruple to meet climate goals, researchers say

Published: 05 Jun 24

Governments need to plant more trees and deploy technologies that will quadruple the amount of carbon dioxide removed each year from the atmosphere in order to meet global climate goals, a team of researchers said in a report published on Wednesday. Carbon dioxide removal (CDR) refers to a range of interventions that sequester CO2 already in the air. It includes conventional methods such as reforestation as well as potentially large-scale solutions like biofuels, cultivating algae in oceans and the use of filters that capture atmospheric CO2 directly.

Foremost to spin out past-producing New Mexico mines

Published: 05 Jun 24

The Winston Group of Properties, located in New Mexico, is set for a listing of its own, with Nasdaq- and CSE-listed Foremost Lithium announcing its intention to spin out the gold and silver assets into a new subsidiary. The new unit, to be named Rio Grande Resources (RGR), will own the Winston Group of Properties, which contains three historic past producing gold and silver mines: Ivanhoe, Emporia and Little Granite in Sierra county.

Independence is located entirely within Nevada Gold Mines' Phoenix mine permitted plan of operations.

Nexus Uranium to separately list its Nevada gold project

Published: 05 Jun 24

North America-focused Nexus Uranium has announced that it will spin off and separately list its Independence gold mine, in the Battle Mountain district of Nevada, on a Canadian exchange. The creation of a new entity holding the project, which is located adjacent to Nevada Gold Mines’ Phoenix-Fortitude mine, will enable the asset to advance independently with new funding, said Nexus CEO Jeremy Poirier.

Glencore to toll treat Crean Hill bulk sample – Magna

Published: 05 Jun 24

Exploration and development company Magna Mining has signed a toll milling agreement with Glencore Canada for the surface bulk sample of the 109 Footwall (FW) zone at its Crean Hill project, in Sudbury, Ontario. This development, CEO Jason Jessup says, is the next step of advancing the Crean Hill project – a past-producing nickel, copper and platinum group metals (PGM) mine.

Eskay Mining taps P2 team to bolster Golden Triangle success

Published: 05 Jun 24

TSX-V-listed Eskay Mining has entered into a nonbinding letter of intent to acquire fellow junior P2 Gold in a business combination transaction to create a gold and copper explorer focused on the Golden Triangle of British Columbia and Nevada. The combined company will be managed by the team that discovered and developed the Brucejack mine, in the Golden Triangle. P2 Gold president and CEO Joe Ovsenek will take on the same role at the combined company and Eskay president and CEO Mac Balkam will become chairperson.

External probe finds Sandfire disturbed artefact scatters at DeGrussa

Published: 05 Jun 24

Copper miner Sandfire Resources chairperson John Richards on Wednesday apologised to traditional owners Yugunga-Nya for failing to protect artefact scatters during the construction of the Monty mine at its DeGrussa operations, north of Meekatharra in Western Australia. This comes as the ASX-listed company published the findings of an external investigation, led by law firm Gilbert + Tobin, into the disturbance of artefact scatters in 2017 and 2018.

First call applications for R400m junior mining exploration fund close July 12

Published: 04 Jun 24

The first call applications for the R400-million junior mining exploration fund (JMEF) close on July 12. This was stated on Tuesday in a media release issued by the Department of Mineral Resources and Energy (DMRE), in partnership with the Council for Geoscience (CGS) and the Industrial Development Corporation (IDC).

Black Cat raises funds for Paulsens restart

Published: 04 Jun 24

ASX-listed Black Cat Syndicated has secured the immediate funding required to start major refurbishment works and mining activities at its Paulsens gold mine, in Western Australia. The company has received firm commitments for A$36-million through a two-tranche placement at A$0.27 a share, with strong support from existing shareholders, as well as several new North American and Australian institutional shareholders.

Employees hold unprotected sit-in at Sibanye's Kroondal mine

Published: 04 Jun 24

Multinational mining and metals processing group Sibanye-Stillwater reported on June 4 that more than 200 employees remained underground in an illegal sit-in at its Kroondal mine. The group said the sit-in started on the morning of June 3, with morning shift employees, including contractors, at the Kwezi shaft.

Standard Bank’s Tshabalala confident South Africa’s institutions will deliver post-election stability

Published: 04 Jun 24

While refusing to be drawn on what coalition arrangement would be favourable for investment, Standard Bank CEO Sim Tshabalala has expressed confidence in the ability of South Africa’s institutions to navigate the prevailing post-election uncertainty and ensure stability and even a market rally. Responding to questions following a speech delivered at a S&P Global Ratings conference in Johannesburg, Tshabalala indicated that the outcome of the election, which saw the African National Congress (ANC) slump to 40% of the vote from 57%, had been a scenario to which the bank had assigned a 20% probability ahead of the May 29 poll.