TOP NEWS
First Quantum attracting takeover bids
First Quantum Minerals Ltd. is working with advisers to assess its options after attracting takeover interest, Bloomberg News reported, citing people with knowledge of the matter. No formal takeover bids have been lodged, the report noted. First Quantum owns the Kansanshi copper mine in Zambia, where the company scrapped its plan to dismiss 2,500 workers due to the country's higher mining taxes.
US to prioritize rare earths, plastic cleanup in Australia PM visit
President Donald Trump will prioritize conversations concerning rare earths supplies and reducing ocean plastic pollution during Australian Prime Minister Scott Morrison's Sept. 20 visit to the White House, according to senior administration officials. "We're going to be rolling out a plan to improve security and supply of rare earths in a way that's mutually beneficial to both countries and strengthens our fiscal security and our economic security," senior administration officials told reporters on a press briefing call.
More than half of coal companies expanding, nongovernmental coalition says
The majority of global coal companies are still making expansion plans, an environmental and human rights organization announced. A database of companies that operate along the thermal coal value chain, titled the Global Coal Exit List, was released by Urgewald E.V. in partnership with 30 partner nongovernmental organizations. Of 746 companies on the Global Coal Exit List, 400 are still planning to expand their coal operations, according to a news release from the Germany-based nonprofit.
BASE METALS
* Auris Minerals Ltd. granted Sandfire Resources NL an option to earn a 70% stake in tenements E51/1053 and E51/1120 at the Cashman copper project in Western Australia by outlining of a minimum 50,000 tonnes of contained copper and completing a feasibility study, as well as incur a minimum A$1.2 million spend on exploration within the first 12 months and issue 30,000 shares.
* Uganda aims to restart the Kilembe copper-cobalt mine after a failed deal with Tibet Hima Industry Co. Ltd., which pledged to invest US$175 million in 2013, Bloomberg News reported. The government, which is preparing to open bidding, aims to reach a production sharing agreement to retain a stake in the project, which was placed on care and maintenance in 1982.
* Chile's State Defense Council filed a claim at the country's First Environmental Court against Lundin Mining Corp. subsidiary Compañia Contractual Minera Candelaria SpA over neglecting a stipulation in the Candelaria copper project's environmental license, which requires the operation to gradually incorporate desalinated seawater in lieu of fresh water, Soy Chile reported.
* MGX Renewables Inc.'s board of directors approved a name change to Zinc8 Energy Solutions, with a change in its trading ticker to occur in the near term.
* Osisko Gold Royalties Ltd. increased its revolving credit facility to C$400 million with an additional uncommitted accordion of up to C$100 million, for a total availability of C$500 million, from the previous C$350 million in November 2017. The facility, which was extended by one year to Nov. 14, 2023, will be used for general corporate purposes and investments.
* Giyani Metals Corp. is exiting from gold exploration in South Africa by selling its 45% stake in Rock Island Trading 17 (Pty) Ltd. to Corridor Mining Resources (Pty) Ltd. for a total cash consideration of 9.6 million South African rand, or about US$868,000.
* Troy Resources Ltd. cut the lower end of its gold production guidance for the six months from July to December at the Karouni project in Guyana to 24,000 ounces, from 26,000 ounces, due to heavy rainfall affecting operations.
* Woomera Mining Ltd. completed its purchase of an 80% interest in Cazaly Resources Ltd.'s Mount Venn gold tenements in the northeastern goldfields of Western Australia.
* Beacon Minerals Ltd. received its first revenue from an initial gold production of about 257 ounces at its Jaurdi project in Western Australia. Commercial production is expected to take place Oct. 1.
BULK COMMODITIES
* China Baowu Steel Group Corporation Ltd. completed its purchase of a 51% stake in Magang (Group) Holding Company Ltd., Xinhua News Agency reported. Baowu's annual capacity is expected to rise to 90 million tons from 70 million tons following the deal, the report said.
* China's National Development and Reform Commission has approved Aluminum Corp. of China Ltd., or Chalco, to issue a bond offering of up to 10 billion Chinese yuan. The state planner said that 5 billion yuan of the proceeds raised will be used on mining, manufacturing, power and construction related business, while the remaining proceeds will be used to replenish Chalco's working capital.
* India has started auctioning 27 coal mines and the allotment of 15 others in a process expected to be completed by November, Press Trust of India wrote, citing Union Coal Secretary Sumanta Chaudhuri.
* Alien Metals Ltd. secured an option to acquire a 51% interest in exploration licenses E47/3954 and E47/3953, dubbed as the Hancock Ranges and Brockman iron ore projects in Western Australia, from Windfield Metals Pty. Ltd.
* Metalsearch Ltd. is planning an initial drilling program on the Abercorn high-purity alumina project in Queensland, Australia, to define a maiden inferred mineral resource.
* The Governor of Minas Gerais state in Brazil, Romeu Zema, signed a letter of intent with Usinas Siderúrgicas de Minas Gerais SA for investments worth 219.8 million Brazilian reais in steel and mining projects in the state, Estado de Minas reported.
* China will set more stringent emissions targets in the coming winter months for cities that had higher concentrations of damaging particles, part of its wider anti-pollution campaign that may affect heavy industries such as steelmaking and coke plants, Reuters reported.
* Fortescue Metals Group Ltd. asked various social media platforms to be more proactive in removing false advertisements after Chairman Andrew Forrest's name and image were used in a scam.
SPECIALTY
* FYI Resources Ltd. Managing Director Roland Hill said on the sidelines of the Perth leg of the Benchmark World Tour that the US$178 million capital expenditure projected under a September 2018 pre-feasibility study for Cadoux high-purity alumina project in Western Australia could be reduced, with the company seeking parties to finance the operation.
* Lithium Australia NL developed a process that recovered more than 85% of lithium and more than 90% of nickel and cobalt from spent lithium-ion batteries. The battery metals producer said that establishing a supply stream based on recycled battery products will avoid batteries being sent to landfills and provide an ethical source of battery materials, cobalt in particular.
* Sovereign Metals Ltd. completed a graphite pilot plant program that produced over 4 tonnes of high-quality graphite concentrates from the Malingunde project in Malawi. The company said the program's results showed a robust process flowsheet, which will be used in the detailed engineering of a definitive feasibility study.
* Ormonde Mining PLC's 30%-owned unit Saloro S.L.U. is in the process of finalizing a €10 million, 12-month loan facility with Oaktree Capital Management to provide additional liquidity support ahead of establishing ore mining operations at the main orebody of the Barruecopardo tungsten mine in Spain in the near term.
* Xiamen Tungsten Co. Ltd. signed a framework agreement with Jiangxi Rare Metals Tungsten Holdings Group Co. Ltd. and Xiamen Sanhong Molybdenum Co. Ltd. for cooperation over various projects, including joint ventures for tungsten, rare earths and cobalt projects.
* Canadian Metals Inc.'s review of an industrial feasibility study for its Baie-Comeau silicon project showed a potential C$130 million reduction on the project's C$380 million capex after eliminating duplications. The Canadian explorer said costs can be further slashed by assuring that the technology used for the furnace should be reliable.
* Millennial Lithium Corp. is progressing the construction of its pilot plant at the Pastos Grandes lithium project in Argentina, which is expected to start treating plant-grade brine in December.
* Stans Energy Corp. will seek to collect a US$24 million tribunal award from Kyrgyzstan after the country did not file an appeal in the English courts. The award stems from Kyrgyzstan's seizure of the Kutessay II rare earths mine.
INDUSTRY NEWS
* The U.S. Environmental Protection Agency intends to issue a revised version of its proposed "Strengthening Transparency in Regulatory Science" rule in early 2020 instead of finalizing the original proposal by the end of the year as originally planned, EPA Administrator Andrew Wheeler told a congressional oversight hearing.
* Peru's Ministry of Energy and Mines said a one-stop shop for mining companies to obtain required licenses — including the approval of pre-evaluation exploration activities, authorization of mining activities, and the grant of benefit concessions — took effect, El Comercio reported. The initiative aims to simplify the application process of permits and authorizations needed to begin operations in the South American country.
* Miners in Australia's east coast have no plans in building desalination plants amid droughts hitting the region, The Australian Financial Review reported.
* Peru's energy and mines minister Francisco Ismodes projects a 27% growth in copper production, with gold output to expand 12%, by 2022, Reuters reported.
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