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Orion Minerals in final stages of Okiep acquisition

Published: 06 May 24

ASX- and JSE-listed Orion Minerals has reached the final stages of its acquisition of a controlling interest in the Okiep copper project, located about 570 km north of Cape Town in the Northern Cape. Strategic funding partner the Industrial Development Corporation of South Africa (IDC) has now obtained internal approvals and counter-signed the addenda to the agreements which will see Orion acquire the controlling interest in Okiep.

Brazil wants Vale’s next CEO to have closer ties with government

Published: 06 May 24

Brazil expects the next CEO for Vale, the world’s second-largest iron ore producer, to have closer relations with officials and regulators even after public scrutiny over government influence on the company’s succession plan roiled a leadership search earlier this year. The government wants the next CEO to have ties with states, municipalities and regulators, Alexandre Silveira, the country’s Mines and Energy Minister, said in an interview at Bloomberg’s office in Rome. “This will be a step forward and we’ll demand it very vigorously,” Silveira said.

Strong copper price reviving Peru's mining mojo, Minister says

Published: 06 May 24

Peru's dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper prices and a bullish outlook they will rise further, helping lure back investor interest, the country's Mining Minister said on Friday. "The price of copper is a great attraction," Romulo Mucho, told Reuters in an interview at his office, a reference to prices that hit two-year peaks of $10 208 a metric ton this week, close to the record high of $10 845 in March 2022.

Congo's $7bn infrastructure deal with China will depend on copper prices

Published: 06 May 24

About $7-billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised minerals deal will largely depend on copper prices remaining high, details of the agreement published on Friday show. The government of President Felix Tshisekedi pushed for a review of the 2008 infrastructure for minerals deal with Sinohydro Corp and China Railway Group to bring more benefits for Congo, the world's biggest cobalt producer.

Rio Tinto has long admired Anglo’s Collahuasi copper mine in Chile.

BHP’s biggest rivals sit on the sidelines of Anglo M&A drama

Published: 06 May 24

Two of BHP Group’s biggest rivals are sitting on the sidelines for the moment as they watch to see how a takeover offer for Anglo American will play out. Both Rio Tinto Group and Glencore are more focused on waiting for opportunities to snap up specific parts of Anglo’s business as BHP’s bid unfolds, rather than pursuing rival offers for the entire group.

Costa Fuego is one of a limited number of globally significant copper developments not owned by a major mining company.

Hot Chili arranges nearly A$30m for Chile copper project

Published: 06 May 24

ASX-listed copper miner Hot Chili has arranged about A$30-million in funding to accelerate its Costa Fuego copper project, located in the coastal range of Chile. The company, which also trades on the TSX-V, arranged a A$24.9-million private placement to institutional and professional investors through the issue of 24.9-million fully paid ordinary shares at A$1 each.

Mulino will inherit the controversy surrounding the Cobre Panama copper mine.

Panama's Mulino wins Presidency with support from convicted former leader

Published: 06 May 24

PANAMA CITY - Panama's former security minister Jose Raul Mulino on Sunday stormed to victory in a presidential poll dominated by his old boss, the popular ex-leader Ricardo Martinelli, who buttressed his campaign despite being holed up in Nicaragua's embassy. Mulino, 64, was one of the favorites for the presidency after he stepped in to replace Martinelli on the ballot when the former president was barred from running due to a money laundering conviction.

Panama to bar First Quantum from mining copper during closure process

Published: 03 May 24

Panama will bar First Quantum from extracting copper during the closure of the mine it lost the rights to run last year, the country's Trade Minister Jorge Rivera Staff told Reuters, adding that new ways need to be found to finance the mine's shutdown. Miners around the world tend to keep mining during closure processes as they use those profits to finance shutdowns, but such a move is off the table in the case of Cobre Panama, Rivera Staff said in an interview on Thursday.

Harmony reports second fatality in a week

Published: 03 May 24

A rock drill operator has died following a fall-of-ground incident at Harmony Gold Mining Company's Doornkop mine, in Gauteng, on May 2. “We are deeply saddened by this loss of one of our colleagues. At Harmony, safety is our foremost priority. A safe mine is a productive one – never the other way around. These tragedies serve as a harsh reminder that we can never be complacent and much more still needs to be done to achieve our goal of zero loss-of life.

Anglo CEO meets South Africa's mines minister after BHP's takeover proposal

Published: 03 May 24

Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group's $39 billion takeover bid, a source familiar with the matter told Reuters. BHP, the world's biggest-listed mining group, is privately talking to investors as it weighs up its next move after Anglo's rejection of its initial proposal.