China Baowu Steel Group has completed its purchase of a stake in the Simandou project in Guinea, as China’s top steelmaker looks to expand its interest in the world’s largest untapped iron ore mine. Baowu bought an undisclosed stake from Winning Consortium Simandou, which owns the two northern blocks of the project, the Chinese steel mill said in a statement on Thursday. The consortium that sold the stake comprises Singapore’s Winning International Group and aluminum maker China Hongqiao Group.
WAF draws down $265m loan to build Burkina Faso gold project
ASX-listed unhedged gold mining company West African Resources (WAF) has fully drawn down the $265-million secured loan facility from Sprott Resource Lending and Burkina Faso-based Coris Bank International for the development of the company’s Kiaka gold project, in Burkina Faso, and other corporate purposes.
France’s Orano says Niger has removed mining permit for its Imouraren unit
French company Orano said on Thursday that Niger had removed a mining permit for its subsidiary Imouraren. Orano said the decision would have a negative economic impact on Niger and added it reserved the right to take legal measures to challenge the decision.
Allegations of human rights abuses ‘unfounded’, Barrick Gold tells UNHRC
Barrick Gold said in a letter to the United Nations Human Rights Council on Thursday that allegations of human rights violations at its North Mara gold mine were “misdirected, unfounded” and “lacked substance”.
The UNHRC’s special procedures branch had sent a letter to the Canadian gold miner in April, saying it had received information about allegations of killings, assault, torture, sexual abuse and violence against women and girls, among others, committed by security forces and private security contractors at the North Mara mine in northern Tanzania.
Dwyka highlights new drone technology at showcase
Mining technology company Dwyka Mining Services has announced the launch of several new drone technology services through its partnerships with drone technology companies Wingtra, Emesent and now Skydio. At a showcase event hosted at the FNB Stadium, in Gauteng, on June 20, Dwyka announced its newly signed strategic partnership and reseller agreement with Skydio, one of the largest artificial intelligence- (AI-) powered drone technology companies in the US.
Marula finalising arrangement for first sales from Blesberg project
Africa-focused battery metals investment and exploration company Marula Mining’s executive management team is finalising the outstanding logistics and export arrangements for the initial 500 t of spodumene to be sold from the Blesberg project, in South Africa. This initial sale and the receipt of proceeds is expected to be concluded over the next two to four weeks.
Key EV battery material can come from a surprising source: methane
Graphite is key to manufacturing the lithium-ion batteries that power everything from electric cars to smartphones. While China is the world’s top producer and exporter of the crystalline carbon, there’s been a push to grow a US supply chain. Oakland-based startup Molten Industries is working to build it by relying on something that’s cheap and abundant in the US: natural gas. The company has developed a specialized technique to break methane into graphite and hydrogen, the latter of which can be used as a source of clean energy. The effort is funded in part by a $25 million Series A financing round led by Bill Gates’s Breakthrough Energy Ventures (BEV).
Europe’s EV battery plans fade on China price war, US subsidies
In 2019, France and Germany agreed to pump billions of euros into a plan to boost Europe’s battery industry and catch up with China and the US. Five years later, that effort is running out of steam.
As electric-vehicle sales slow, companies including Volkswagen, Stellantis and Mercedes-Benz are scaling back or refocusing battery projects. Chinese manufacturers are slashing costs and the US is drawing away investment with lucrative subsidies.
Green copper, vapour refining envisaged at Orion’s Northern Cape base metals mines
Green copper and clean smelting and refining are envisaged at Orion Minerals’ quickly advancing base metals mines in South Africa’s well-endowed Northern Cape province, which has historically produced 2.5-millon tons of copper until base metal mining ceased there several decades ago. The fully permitted and already reviving Prieska mine will begin producing its first saleable copper and zinc 12 to 18 months after finalising its total funding requirement, which is estimated at from R3-billion to R4-billion.
Malawi rail upgrades under way, reports Sovereign Metals
Upgrades to the 399 km Nkaya–Mchinji railway section connecting the Malawi–Zambia border to the Nacala Logistics Corridor (NLC), are under way, reports ASX- and Aim-listed Sovereign Metals. The railway section runs across the company’s Kasiya rutile/graphite project tenements and it notes that the refurbishment of that part of the railway mainline that connects the Kanengo junction in the Lilongwe district, where Kasiya is located, to the NLC junction at Nkaya, is near completion.