Unlike its former parent BHP Group, South32 Ltd. has no plans to set public targets to reduce greenhouse gas emissions produced by customers, The Australian Financial Review wrote, citing Chief Development Officer Simon Collins, who said that there is no substitute for coal in steelmaking, and that metallurgical coal is a big part of the company's future.
Report: Lynas may get short license extension for Gebeng rare earths plant
The Malaysian government may grant Lynas Corp. Ltd. a short license extension to operate the Gebeng rare earths plant, Reuters reported, citing two sources with knowledge of the matter. The government has yet to determine the final duration of the extension, which may be shorter than the usual three years, the sources said.
China 'weaponizes' yuan to counter US$300B tariff threat
Unable to match the U.S. dollar-for-dollar on tariffs, China has responded to U.S. President Donald Trump's latest escalation by allowing its currency to weaken past 7 per dollar for the first time in 11 years.
* Global mined molybdenum production stagnated in 2018, with supply at 325,568 tonnes compared to 325,877 tonnes in 2017, according to the Metals and Mining Research team at S&P Global Market Intelligence.
* Battery producers and electric car manufacturers, including Tesla Inc., are worried about the longer-term supply of high-purity class-one nickel, Bloomberg News wrote, citing Independence Group NL CEO Peter Bradford, who recently held talks with Tesla's battery metals supply chain team.
* Centaurus Metals Ltd. secured an option to acquire the Jaguar nickel sulfide project in Brazil from Vale SA in exchange for the Salobo West copper project. Terrativa Minerais SA agreed to convert its royalty interest in Salobo West into a 25% share of project sale proceeds.
* Clive Palmer settled about A$100 million in claims with special-purpose liquidators and unsecured creditors over the collapse of Queensland Nickel Pty Ltd., The Australian Financial Review reported. Palmer is still being pursued by general-purpose liquidators for up A$100 million in debt, which Palmer disputes, the report said.
* Australian Mines Ltd. executed a long-form agreement allowing SK Innovation Co. Ltd. to purchase all of the battery-grade cobalt and nickel sulfates from the Sconi cobalt-nickel-scandium project in Queensland, Australia, for seven years.
* Venturex Resources Ltd. secured a US$70 million senior debt facility from global commodities trader Trafigura Pte. Ltd. to develop the former's wholly owned flagship Sulphur Springs copper-zinc project in Western Australia.
* PolyMet Mining Corp. subsidiary Poly Met Mining Inc. said the Minnesota State Court of Appeals affirmed the validity of the state's nonferrous mining rules, which environmental groups challenged in a bid to overturn the company's permit approval for the NorthMet copper project.
* Great Western Mining Corp. PLC said the U.S. Bureau of Land Management approved revisions to its permit for the M2 copper project in Nevada, allowing the company to drill a further two holes to target a deeply buried zone within the host diorite rock. Drilling is scheduled to start in September.
* Poseidon Nickel Ltd.'s JORC 2012-compliant indicated and inferred resources at its Silver Swan deposit in Western Australia jumped 30% for contained metal. The deposit now hosts 168,000 tonnes at 9.5% nickel containing 16,030 nickel tonnes using a 4.5% nickel cutoff.
* Semafo Inc. slashed the full-year guidance for its Mana gold operation in Burkina Faso to the range of 130,000 ounces to 140,000 ounces, from 170,000 ounces to 190,000 ounces, as it suspended ore processing at the project until October due to a pit wall failure at the Wona pit.
* Serabi Gold PLC delayed the completion of a preliminary economic assessment for the Coringa gold project in Brazil to the end of August due to the company's decision to switch to a dry stacking solution and do away with a conventional dam.
* Westgold Resources Ltd. intends to demerge wholly owned unit Castile Resources Pty. Ltd., which holds the company's polymetallic assets. Each Westgold shareholder will be entitled to 1 Castile share for 4 four shares held. Meanwhile, Castile is purchasing the Rover copper-gold project from Andromeda Metals Ltd. for A$650,000.
* Thousands of Turkish protesters marched against Alamos Gold Inc.'s Kirazli gold project in the Canakkale province over concerns of deforestation and pollution, Reuters reported.
* Yamana Gold Inc. priced its previously announced cash tender offers for its 4.78% senior notes due 2023, 4.95% senior notes due 2024 and 4.625% senior notes due 2027.
* Rumble Resources Ltd. signed a binding option agreement to acquire the Western Queen gold project in Western Australia from Ramelius Resources Ltd.
* Kingsrose Mining Ltd. resumed operations at its processing plant at the Way Linggo gold project in Indonesia on Aug. 4.
* Marmota Ltd. acquired the 178-square-kilometer Malbooma tenement near its Aurora Tank gold discovery and CAR gold prospect in South Australia.
* Mexus Gold US poured gold at the Santa Elena mine in Mexico.
* Mako Gold Ltd. lodged two new exploration permit applications in Côte d’Ivoire covering an area of 296 square kilometers that may host gold deposits.
* Brazil Minerals Inc.'s 47%-owned Jupiter Gold Corp. received an initial three-year mining license for its Paracatu gold project in Brazil's Minas Gerais state. The license allows mining of up to 50,000 tons per year and can be renewed or expanded.
* India's gold imports in July plummeted 55% year on year to 39.66 tonnes of gold from 88.16 tonnes due to a rally to record domestic prices and lower demand caused by higher import taxes, Reuters reported, citing a government source.
* South32 Chief Development Officer Simon Collins said the company's final decision on the future of its manganese alloy smelters in Australia and South Africa will be made during the December quarter, Mining Weekly reported. Meanwhile, Chief Development Officer Simon Collins will move to Vancouver from the South32's headquarters in Western Australia to focus on the company's hunt for new projects in the Americas, The Australian reported.
* Homeowners in a luxury development in the Belo Horizonte Metropolitan Region in Brazil accused Vale SA's Vargem Grande pellet plant of causing air and sound pollution, Valor International reported. The charges name former Vale CEO Murilo Ferreira and four other ex-employees.
* United Co. Rusal PLC halted work and evacuated all but essential staff at its Achinsk alumina plant in Russia following a fire in a nearby military base, Reuters reported.
* En+ Group PLC joined the U.N. Global Compact, a network of companies committed to implementing universal sustainability principles, as part of an effort to cut emissions in aluminum production.
* Sirius Minerals PLC is expected to price its US$500 million junk bond for the Woodsmith potash project in the U.K. with a coupon of more than 13%, Financial Times reported.
* Parkway Minerals NL entered into a binding term sheet to acquire 97.79% of Consolidated Potash Corp. which holds a 15% interest in the Karinga Lakes potash project in Australia's Northern Territory and a 50% stake in a lithium-potash-prospective project in New Mexico.
* GWR Group Ltd. executed a term sheet with private iron ore developer Gold Valley Iron Pty. Ltd. for the latter to mine up to 3 million tonnes of iron ore from the former's John William Doutch deposit at its Wiluna West iron ore project in Western Australia.
* Admiralty Resources NL signed a project financing framework agreement with Ning Bo Qiaohui Leasing and Financial Co. Ltd. of up to A$46 million for its Mariposa iron ore project in Chile.
* Olympic Steel Inc. agreed to acquire certain assets related to the manufacturing of EZ-Dumper hydraulic dump inserts. The financial terms of the deal were not disclosed. Olympic Steel said the purchase will not affect its financial performance, but it will be incrementally positive to EBITDA.
* Lucapa Diamond Co. Ltd. recovered a 64-carat diamond that it considers as the best individual diamond unearthed from the Mothae kimberlite mine in Lesotho.
* European Metals Holdings Ltd. received an extension to Dec. 31, 2020, for an exploration license for its Cinovec lithium-tin project in the Czech Republic.
* U.N. investigators urged world leaders to impose financial sanctions on firms linked to Myanmar's military, which is accused of exterminating the Rohingya minority, Reuters reported. The military’s two major conglomerates, Union of Myanmar Economic Holdings Ltd. and Myanmar Economic Corp., have investments in various sectors, including gems and copper, the report said.
* Heavy mining equipment maintenance contractor Mader Group aims to raise A$50 million in an IPO for a A$200 million listing on the ASX, The Australian Financial Review's Street Talk wrote.
* Mill Rock Capital Management LP and affiliates made a strategic investment in Venture Metals LLC and SI Metallics LLC without disclosing further terms. Venture acquired Versatile Processing Group Inc. The transaction combined two leading U.S. metal recycling solutions providers with facilities in Texas, Illinois and Indianapolis.
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