Research Channel | Advanced Search - Research Channel Africa

Back NEWS

Congo demands international embargo on Rwandan mineral exports

Published: 16 May 24

The Democratic Republic of Congo called for an international embargo of metal exports from neighboring Rwanda, whose government it accuses of using rebel groups to steal its natural resources. All mining products from Rwanda should be considered “blood minerals,” because their sale allegedly supports conflict in eastern Congo, Mines Minister Antoinette N’Samba Kalambayi said in a May 8 statement released on Tuesday. “All stakeholders, including end consumers of mining products,” should commit to a responsible supply chain, and “an embargo be decreed against Rwanda,” she said.

Court dismisses objection to Whitehaven’s Narrabri expansion

Published: 16 May 24

A full bench of the federal Court has dismissed an objection raised by community organisation Environment Council of Central Queensland (ECCQ) against Whitehaven Coal’s Narrabri Stage 3 extension project. The dismissal of ECCQ’s application places the ball in the court of Environment and Water Minister Tanya Plibersek, who is tasked with making a final determination regarding the extension of operational life of Narrabri, in New South Wales, until 2044.

Labyrinth retains deposit as sale of Canadian gold project falls through

Published: 16 May 24

ASX-listed Labyrinth Resources has announced the termination of the sale and purchase agreement for its namesake gold project in Canada. The termination comes as a result of the buyer, Gold Projects WA, reportedly failing to fulfill its obligations. The termination would take effect on Friday and Labyrinth said it would retain the nonrefundable A$255 000 deposit.

Strong support for QPM’s A$19m placement

Published: 16 May 24

ASX-listed Queensland Pacific Metals (QPM) has successfully completed a A$0.38-a-share placement raising A$19.1-million to drive growth initiatives. The placement, QPM said on Thursday, was oversubscribed and strongly supported by new institutional and sophisticated investors.

The recruitment of new non site-based permanent employees and contractors has been stopped.

Anglo unveils hiring freeze, document shows, after rejecting $43bn takeover bid

Published: 16 May 24

Anglo American has suspended hiring globally, it said on Thursday, as it gets plans under way to simplify itself and build value – and avert a $43-billion takeover bid by Australia's BHP. Anglo laid out plans on Tuesday to refocus its company on energy transition metal copper while spinning out or selling its less profitable coal, nickel, diamond and platinum businesses, as it moves to fend off the world's biggest miner.

Saudi’s new mining vehicle picks industry veteran as first CEO

Published: 16 May 24

Saudi Arabia’s Manara Minerals Investment hired veteran dealmaker Pierre Chenard to be its first permanent CEO as the mining investment firm searches for more assets. Manara, backed by the Saudi sovereign wealth fund, is spearheading the kingdom’s ambitious plan to become a major player in metals and mining. The vehicle has been tasked with snapping up stakes in mines overseas and funneling the raw materials back to Saudi Arabia for processing.

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.