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Congo picks Australia's Fortescue to develop giant hydro project

15th June 2021 Democratic Republic of Congo's (DRC's) government said on Tuesday Fortescue Metals Group would develop the Grand Inga hydroelectric power project, including a 4,800-megawatt dam that has already been committed to Chinese and Spanish developers. Australia's Fortescue confirmed earlier on Tuesday... 

Members of Vale Sudbury nickel miners' union reject new offer

14th June 2021 Members of a union representing striking workers from Vale's Sudbury, Canada, nickel mine have rejected the Brazilian company's latest offer, urging it to commit to "good-faith" talks to settle the strike. USW Local 6500 members voted by an 87% majority to reject Vale's second offer in two... 

China's Ganfeng to pay $130m for stake in Mali lithium mine

14th June 2021 Ganfeng Lithium, one of the world's biggest lithium producers, said on Monday it would pay $130-million for a stake in the Goulamina hard-rock mine in Mali and take at least half of its first-phase output. The purchase marks the Chinese firm's first investment in lithium mining in Africa as it... 

China's Ganfeng Lithium to sell $630m of shares to fund expansion

11th June 2021 Ganfeng Lithium, one of the world's top lithium producers, said on Friday it would sell around HK$4.9-billion ($630-million) in new shares to boost capacity and fund potential investments. The Chinese company in March announced an ambitious plan to increase its lithium production capacity... 

Samarco offers creditors shares or 85% haircut - sources

11th June 2021 Samarco Mineracao, a bankrupt joint venture between Brazilian miner Vale and BHP Group, proposed on Thursday a plan to restructure 50-billion reais ($10-billion) in debt with an offer of preferred shares or a cash payout in 2041 equal to 15% of the current value of holdings, sources said.... 

Iron-ore scales over three-week high on China demand, supply risks

11th June 2021 Iron-ore futures jumped on Friday to their highest in more than three weeks, as a rebound in steel inventory in top producer China suggested that demand for the raw material remained brisk. The most-traded September iron ore on China's Dalian Commodity Exchange rose as much as 4.1% to 1 226 yuan... 

Sandvik expects bigger market for battery-driven mining gear in two to three years

10th June 2021 Sandvik expects the market for battery-electric underground mining equipment to hit a higher gear in two to three years, as mining companies attempt to lower emissions and cut costs. With an electrification boom looming, Sandvik, whose competitors include Epiroc and Caterpillar, could sell more... 

Organisers of Nordgold IPO see its value at $5.1bn to $6.6bn - sources

10th June 2021 Two organisers of an initial public offering (IPO) for Russia-focused gold producer Nordgold see its equity value at $5.1-billion to $6.6-billion, three financial market sources told Reuters on Thursday. Gazprombank put it at $5.1-billion to $6.6-billion, while Renaissance sees it at... 

Sandvik expects bigger market for battery-driven mining gear in 2-3 years

10th June 2021 Sandvik expects the market for battery-electric underground mining equipment to hit a higher gear in two to three years, as mining companies attempt to lower emissions and cut costs. With an electrification boom looming, Sandvik, whose competitors include Epiroc and Caterpillar, could sell more... 

Vale's decomissioned Brazil dam at risk of collapse, labour body says

10th June 2021 Iron-ore miner Vale's decomissioned Xingu dam is at "imminent risk of collapsing," according to a statement on Wednesday by the Regional Labour Department for the southeastern Brazilian state of Minas Gerais. The Xingu tailings, or mining waste, dam in the town of Mariana, already devastated by... 

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