Australian-listed Prospect Resources said on Monday it had picked Renaissance Securities Capital as its exclusive financial advisor for the possible sale of shares in Zimbabwe's Arcadia Lithium mine to Russian energy firm Uranium One. Uranium One, a unit of Russia's state-owned nuclear energy firm Rosatom, agreed with Prospect last December to start talks towards buying equity in Arcadia and an offtake agreement.
Australian rare earth miner Lynas Corp said on Tuesday chairman Mike Harding intends to retire by September 30 after more than five years in the role. Kathleen Conlon, a non-executive director at the firm since 2011, has been elected to succeed Harding.
Barrick Gold's Kibali gold mining joint venture in Democratic Republic of Congo will be able to get $500-million out of the country very soon, CEO Mark Bristow told Reuters on Monday. The gold miner has been in discussions with Congo's government over how to get the money out of the country for months. A resolution was close in January, but then the Covid-19 pandemic hit, Bristow said in a telephone interview.
Australian-listed Prospect Resources said on Monday it had picked Renaissance Securities Capital as its exclusive financial advisor for the possible sale of shares in Zimbabwe's Arcadia Lithium mine to Russian energy firm Uranium One. Uranium One, a unit of Russia's state-owned nuclear energy firm Rosatom, agreed with Prospect last December to start talks towards buying equity in Arcadia and an offtake agreement. Zimbabwe is pushing lithium as a major draw for investors as it looks to attract capital to its mining sector. Prospect said in a statement that Renaissance Securities would advise "in relation to the potential sale, directly or indirectly, of the Company's economic or other participation in, or the whole or part of the licence and/or the assets of, the Arcadia Lithium Project".
An Indonesia-Australia deal that eliminates most trade tariffs between the two nations and aims to open up investment, took effect on Sunday, Indonesia's Trade Ministry said. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), signed last year and ratified by the Indonesia's parliament in February, aims to boost bilateral trade that was worth $7.8-billion in 2019.
Japan's Mitsui Mining and Smelting said on Monday its two zinc mines in Peru resumed operations on July 2 after a closure of more than three months to limit the spread of the novel coronavirus. The company's Huanzala and Palka mines had been suspended since March 16 after the local government issued a state of emergency. They restarted operations after some economic activities resumed and the local government gave approval, a spokesman at Mitsui Mining said. "The mines' operations have returned to the levels before the quarantine was put in place in March as they have been preparing for the restart since late June," he said without giving an output forecast for the current year.
A small tailings dam associated with a mine run by Ecuadorean firm Austro Gold has collapsed, Ecuador's government said on Friday, sending mining waste into a nearby river. A retaining wall collapsed at the Armijos tailings station, located in the Camilo Ponce Enriquez area in southern Ecuador, the Energy and Mines Ministry said. Nobody was injured. "One of the immediate measures in the area will be ... to prohibit mining activities at that plant," the Ministry said in a statement, without providing details on the incident. The ministry said it opened an investigation to determine how the company could be sanctioned.
Brazilian miner Vale is ready to resume dividend payments to investors and is just waiting for more certainty around the coronavirus pandemic before approving the move, CFO Luciano Siani told investors on Friday. Vale has suspended dividend payments since the Brumadinho, Minas Gerais, dam burst, in 2019. The company last paid dividends in September 2018.
Chile's State-run Codelco said on Saturday it would temporarily halt construction on a new level at its flagship El Teniente mine, a move it said was necessary to combat the fast-spreading coronavirus pandemic. World top copper producer Codelco said in a statement the measure would bring the total reduction in staff at its Teniente operations to 4 500 people. The mine will continue to operate with a previously announced shift schedule of 14 days on and 14 days off to protect workers, the company said. "This (measure) began to be implemented last weekend," Codelco said, adding the move was aimed at "reducing the density of both our own and contract staff, scaling back movement and reducing the possibility of infection."
Insecurity around Société Minière de Bisunzu's (SMB) coltan mine in Democratic Republic of Congo could get worse if it is cut out of supply chains following a deadly grenade attack there, the company running the mine's mineral tracing scheme said. Up to three people were reported killed in the attack on June 23 in Kisura village, which is on an unmined part of SMB's vast mining concession known as PE 4731.