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GreenTech and Anax to collaborate on West Pilbara copper

Published: 16 May 24

Pilbara-focused GreenTech Metals and Anax Metals on Thursday unveiled a nonexclusive memorandum of understanding (MoU) to assess the potential for a copper-focused base metals collaboration. The MoU will consider the potential to treat ore from GreenTech’s Whuno deposit, near Karratha, at the fully permitted Whim Creek processing hub, which is about 100 km away.

Brazil prosecutors again seek to suspend Canadian potash mine in the Amazon

Published: 16 May 24

Brazilian federal prosecutors have filed a lawsuit to suspend a license given to a Canadian firm to install what would be Latin America's largest fertilizer mine in the Amazon rainforest, their office said. The planned mine by Brazil Potash overlaps with ancestral lands of the Mura Indigenous people whose territory is in the process of demarcation, the prosecutors said in a statement issued on Tuesday. They added the licensing must be a federal issue to be decided by Brazil's environmental protection agency Ibama and not the state environmental body Ipaam.

Near-term uranium producer Peninsula raises over A$100m

Published: 16 May 24

With work at the Lance uranium project in the US continuing at full pace, developer Peninsula Energy on Thursday moved to raise more than A$100-million to carry it through until it starts generating free cashflow by the third quarter of next year. The ASX-listed miner will raise A$105.9-million at a discounted fixed price of A$0.10 a share, resulting in the issuing of about 1.6-billion new shares, or about 49.9% of existing shares on issue.

Wildfire has moved closer to Canadian oil city, says local authority

Published: 15 May 24

A large wildfire threatening the major Canadian oil sands city of Fort McMurray moved closer overnight and weather conditions were unfavorable, the local authority said on Wednesday. The fire was just 5.5 km away from the city's landfill, compared with 7.5 km late on Tuesday, the Regional Municipality of Wood Buffalo, which includes Fort McMurray, said in a statement.

Trafigura, IXM caught in Comex copper short squeeze as prices hit record

Published: 15 May 24

Commodity traders Trafigura and IXM are seeking physical copper to cover large bearish positions on the CME, where US copper prices surged to record highs on Wednesday, five sources with direct knowledge of the situation said. A short squeeze occurs when parties betting on lower prices are forced to buy back their positions at a loss or deliver physical copper to close them out.

Sun Silver gleams on ASX debut with Nevada project

Published: 15 May 24

Nevada-focused Sun Silver on Wednesday listed on the ASX, following an oversubscribed A$13-million initial public offering (IPO). The company’s stock more than doubled on its first day trading on the bourse, closing at A$0.43 a share. “The very high level of investor demand saw us close the IPO three weeks ahead of schedule,” commented Sun Silver executive director Gerard O’Donovan.

An image of Mineral Resources and Energy Minister Gwede Mantashe

Mantashe engages with stakeholders over Lily, Barbrook mines’ reopening

Published: 15 May 24

Mineral Resources and Energy Minister Gwede Mantashe on May 15 held a stakeholder engagement session that deliberated on the plans to reopen the Lily and Barbrook gold mines in Mpumalanga. Attended by stakeholders representing Vantage Goldfields, the Lomshiyo Traditional Council, the business rescue practitioner, organised labour and government leaders, the session sought to inculcate cooperation between all stakeholders involved in the efforts to reopen the Lily and Barbrook gold mines, the Department of Mineral Resources and Energy (DMRE) said in a statement.

Half of mining industry still resisting AI integration

Published: 15 May 24

At least half of heavy machinery users within the global mining industry still rely primarily on manual supply chain management tools, with 40% still using manual tools for operational planning, Wits Mining Institute's Professor Glen Nwaila has said. “So even if the automation is partially achieved, you will find that the plant is heavily automated but, in the mine, only a portion of it is actually automated,” he said, speaking at the Mind Shift conference hosted by Mine Equipment Manufacturers of South Africa, in Sandton, on May 15.

Lotus bolsters its management team

Published: 15 May 24

ASX-listed Lotus Resources has appointed four experienced resource executives to provide the company with additional experience in project development, operations, technical and corporate development, including project financing. Michael da Costa will join Lotus as COO at the end of May.

State mining training authority backing green hydrogen skills centre creation

Published: 15 May 24

“We’re very excited to announce that we’ll be establishing the first centre of specialisation of green hydrogen skills,” South Africa’s Chemical Industries Education and Training Authority (CHIETA) CEO, Yershen Pillay, made public this week. CHIETA is working on this with South Africa’s mining and transport sector education and training authority units, Pillay highlighted at this week’s Green Hydrogen Roundtable, hosted by Nedbank Corporate and Investment Banking (CIB).