Wednesday, February 8, 2023


Battery MaterialsIPO & FundraisingUSA

Mining investor TechMet closes second funding round at $120 million

April 15 (Reuters) - Mining investment firm TechMet, which counts the U.S. government as its largest investor, said on Thursday it had closed its second round of funding at $120 million, roughly 50% higher than initially expected. The firm, which controls battery recycler Li-Cycle Corp, has now raised nearly $133 million between its two rounds of funding. TechMet plans to use the funds to continue investments in mines and other projects that produce metals used to make electric vehicles. "Our industry must completely transform itself in order to supply these strategic materials...

Value of top 50 mining companies surges $600 billion from covid lows Despite gold’s price slump, strong copper and iron ore prices lifted MINING.COM’s ranking of the world’s 50 most valuable miners to a new record high of $1.35 trillion at the end of the first quarter. The MINING.COM Top 50* most valuable mining companies added a combined $50 billion in market capitalization over the three months to end-March, a sharp slowdown compared to previous quarters, as the commodities rally cools and gold suffers its worst first quarter in decades. Measured from the height of the pandemic in March-April last year, the index...

Kore Potash (ASX:KP2) signs MOU to finance Kola Potash Project

CEO, Brad Sampson Kore Potash (KP2) has signed a non-binding memorandum of understanding (MOU) with a consortium of investors and engineering firmsUnder the MOU, the consortium will fully finance construction of the company’s Kola Potash Project in the Republic of CongoThe MOU proposes that the project’s construction capital costs would be funded through a combination of debt and royalty financingThe company has committed to paying half of the cost of the optimisation study which will start the processKore Potash is up 5.88 per cent and trading at 3.6 cents per...
Burkina FasoDealsGold


Thor Explorations Ltd. (TSX VENTURE: THX) (“Thor” or the “Company”) is pleased to announce that it has signed an agreement with Barrick Gold Corporation (“Barrick”), which terminates the 2015 Earn-In Agreement between Thor and Acacia Mining PLC (Acacia Mining PLC has subsequently been acquired by Barrick), on the Central Houndé Project (the “Project”) in south-western Burkina Faso (the “Agreement”). Following the signing of the Agreement, Thor has acquired Barrick’s 51% ownership of the Project in exchange for a 1% Net Smelter Royalty. Thor now holds 100% of the Project. The...
DealsGoldM&ASouth Africa

South Africa’s Anglogold plays down merger prospects amid deal talk

TORONTO/JOHANNESBURG — South Africa’s Anglogold Ashanti does not need to pursue mergers and won’t add scale for its own sake, its interim chief executive said on Wednesday, tamping speculation it could take part in further consolidation of the sector. Interim CEO Christine Ramon declined to comment directly when asked about a potential tie-up with Gold Fields during a roundtable at the Mining Indaba Virtual Investment Programme alongside Froneman and Barrick Gold head Mark Bristow. Consolidation can bring benefits including operational synergies, but can also add complexity and costs, she...
DealsNew CaledoniaNicket

Brazil’s Vale sells New Caledonia assets to Trafigura

RIO DE JANEIRO, March 31 (Reuters) - Brazilian miner Vale SA has concluded the sale of its nickel mining assets on the Pacific island of New Caledonia to a consortium including global commodity trader Trafigura, the company said in a Wednesday securities filing. The exact terms were not disclosed, but Vale said that $1.1 billion will be invested in the New Caledonia assets, with $555 million coming from its subsidiary Vale Canada Ltd. Vale will have a supply contract to off-take part of the nickel produced, the company said. (Reporting...

Nordgold Secures First ESG-linked Revolving Credit Facility

London, United Kingdom, 29 March 2021 – Nord Gold plc ("Nordgold" or the "Company"), the internationally diversified gold producer, announces that Celtic Resources Holdings DAC, a wholly-owned subsidiary of Nordgold, has entered into a two-year US$100 million ESG-linked revolving credit facility with a group of international banks. The syndicated facility was arranged by the following mandated lead arrangers and bookrunners: ING Bank N.V., Deutsche Bank AG (Amsterdam branch) and AO Raiffeisenbank. ING Bank N.V. acted as sustainability coordinator while Deutsche Bank AG (London branch) was appointed as facility agent. The new...

Kaz Minerals bidders up takeover bid to $5.5 billion

Bozshakol open pit mine in Kazakhstan. (Image courtesy of Kaz Minerals.) Nova Resources, the consortium bidding to take copper miner KAZ Minerals (LON: KAZ) private has increased its offer by 9% to £4.02B ($5.5 billion), after minority shareholders said they would reject earlier proposals for being too low. Nova, which is controlled by KAZ chair Oleg Novachuk and billionaire Vladimir Kim, said it would pay 850 pence per share plus a special dividend, which lifts the total bid to 869p/share for the 61% of the mining company it doesn’t already own. The fresh and...
1 2 3 8
Page 1 of 8