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Xtract, Cooperlemon add three more licences to their Zambian copper prospects
Published: 30 May 24
London-listed Xtract Resources has entered into an addendum to restate its existing joint venture (JV) agreement with consulting firm Cooperlemon Consultancy, expanding their joint copper exploration efforts in Zambia. The addendum incorporates three additional large-scale exploration licences in northwest Zambia into the JV.
Marula confirms series of local contracts for Kenyan operations
Published: 30 May 24
AQSE-listed Marula Mining has confirmed that the agreements which extend over all the company’s key operations activities at the Larisoro manganese mine, in Kenya, have been executed with several Kenya-based service providers. These agreements include contracts for the drilling and blasting of material on site; the use of mobile mining equipment for the mining, loading and hauling of the ore and waste material; and for the transportation of the manganese ore from Larisoro to Nairobi, where it will be delivered into existing sales agreements and a proposed new long-term offtake agreement.
UK politicians urge Anglo to rethink fertiliser project halt UK politicians urge Anglo to rethink fertiliser project halt
Published: 30 May 24
UK politicians are calling on Anglo American AAL.L to rethink halting its work at the Woodsmith fertiliser project in northern England, part of an asset overhaul Anglo announced after rejecting takeover proposals from global miner BHP. Anglo's unit Crop Nutrients was holding a town hall meeting on Thursday to advise on the slowdown of the project in North Yorkshire, two sources said. Woodsmith currently gives work to around 2 000 people, including contractors, according to the mining company's website.
Aluminium hits two-year high as China capacity limits help rally Aluminium hits two-year high as China capacity limits help rally
Published: 30 May 24
Aluminum extended gains to a two-year high after China, the biggest producer, tightened capacity controls across an array of metals to meet emission-cutting goals. The light metal used in everything from window frames to solar panels has climbed with other base metals this year as expected US monetary easing and China’s bid to step up rescue efforts for its beleaguered property sector bolstered demand. Prices are up almost 20% this quarter alone.
Endeavour’s Côte d’Ivoire project ahead of schedule
Published: 30 May 24
London- and Toronto-listed Endeavour Mining announces that wet commissioning activities are now under way at the Lafigué project, in Côte d’Ivoire. The project is on budget, with construction now 94% complete, and the first gold pour is expected to take place in late June, a quarter ahead of schedule.
Exploration at Douta Thor reports higher first-quarter profit, despite lower revenue
Published: 30 May 24
Aim-listed Thor Explorations has revealed a year-on-year decline in revenue but a significant boost in net profit for the first quarter. In its operational and financial review for its Segilola gold mine in Nigeria, as well as for the company's mineral exploration properties in Nigeria and Senegal for the three months to March 31, Thor reported revenue of $33.3-million, down from $40.3-million in the first quarter of 2023.
Billions in African gold smuggled to UAE yearly, SwissAid says
Published: 30 May 24
Billions of dollars of gold is smuggled out of Africa every year, with the vast majority exported to the United Arab Emirates for processing, according to a report by SwissAid. Using data on declared and undeclared gold imports over a ten-year period ending in 2022, the Bern-based non-governmental organization estimates that the illicit trade amounts to between $23.7-billion and $35-billion annually based on current market prices. More than 435 tons of bullion was smuggled out of Africa in 2022 alone, it said.
212.49 ct Type II white diamond Gem Diamonds recovers sixth large diamond from Letšeng this year
Published: 30 May 24
London-listed Gem Diamonds has recovered a 212.49 ct Type II white diamond from its 70%-owned Letšeng mine, in Lesotho. This is the sixth diamond weighing more than 100 ct to be recovered at the mine this year.
New World secures option on Arizona copper deposit New World secures option on Arizona copper deposit
Published: 30 May 24
Copper developer New World has secured an option to acquire a 630 000 t, high-grade historical copper and zinc resource, located in a district of Arizona where the firm is currently actively exploring. The ASX-listed company entered into a five-year option agreement to purchase a 100% interest in the Pinafore copper deposit, which is about 75 km from its 11.4-million-tonne resource Antler deposit.
McEwen raises C$30m for exploration in Timmins McEwen raises C$30m for exploration in Timmins
Published: 30 May 24
Canadian company McEwen Mining has secured C$30-million ($22-million) in flow-through to support ongoing exploration and development at the Fox Complex in Timmins, Ontario. The funds will be allocated towards exploration drilling and developing an underground access ramp from surface to the Stock East and West resources.
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