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ARC provides portfolio update

By: Tasneem Bulbulia     9th December 2022 African Rainbow Capital  (ARC) Investments says telecommunications company rain’s acquisition of additional spectrum is expected to positively impact the valuation of the ARC Fund’s investment in rain. The telecommunications company’s plans for using the spectrum must still be finalised, as does... 

Cygnus raises cash for Canadian lithium hunt

By: Esmarie Iannucci     9th December 2022 Junior explorer Cygnus Gold will raise A$8-million to fund its lithium hunt in Canada. The ASX-listed company has received firm commitments for the placement of more than 18.18-million shares, at a price of 44c each, representing a discount of 10.2% to Cygnus’ last trading price. The shares will... 

CME welcomes streamlined energy approvals in WA

By: Esmarie Iannucci     9th December 2022 The Chamber of Minerals and Energy of Western Australia (CME) has welcomed an announcement by the state government to introduce a Green Energy Assessment Unit to support cross-agency innovation and streamline the approvals of critical minerals, hydrogen and renewable energy projects. The... 

Updated Valentine feasibility study presents 3-pit mine plan

By: Mariaan Webb     8th December 2022 Toronto-listed Marathon Gold has presented an updated feasibility study for the Valentine gold project, in Newfoundland and Labrador, outlining plans for a three-pit mine plan that with increased mineral reserves, an extended mine life and a higher production profile. The study incorporates the... 

Thungela achieves strong cash generation despite rail constraints

By: Tasneem Bulbulia     8th December 2022 JSE-listed Thungela Resources has continued to deliver strong earnings and cash generation for the period from January 1 to November 30 and expects to achieve another strong set of financial results for the year ending December 31, the company notes in a CFO’s pre-close and trading statement for... 

Botswana Diamonds reports project development progress

By: Tasneem Bulbulia     8th December 2022 Aim-listed Botswana Diamonds (BOD) believes there are big opportunities for diamond exploration and development in South Africa and the company is focusing on what it considers the best opportunities available to the company. The company on December 8 reported its results for the financial year... 

Glencore in position to double copper output using fossil fuel cash flows 

By: Martin Creamer     8th December 2022 Diversified mining and marketing company Glencore will halve the production of its fossil fuel business between now and 2035 and in that time use the cash flows from that fossil business to double production of its copper business. “So, a very neat and tidy use of our fossil fuels, firstly to... 

Chile's environmental regulator files charges against Antofagasta Minerals

By: Reuters     8th December 2022 Chile's SMA environmental regulator on Wednesday said it had filed two charges against Antofagasta Minerals' Centinela copper deposit due to its impact on a water source and local wildlife. One charge, described as "very serious," was for not reporting or taking necessary actions to control and... 

Glencore halts Valeria development

By: Esmarie Iannucci     8th December 2022 Diversified miner Glencore has pulled the plug on the $1.5-billion Valeria coal mine, in Queensland, blaming the uncertainty in global markets and the Queensland government’s decision to hike coal royalties without any consultation with the sector. Glencore said in a statement that the company... 

Mandalay CEO resigns, other senior management changes announced

By: Creamer Media Reporter      7th December 2022 Canada-based natural resources company Mandalay on Tuesday announced the resignation of Dominic Duffy as president and CEO for personal reasons. Duffy would continue to serve as CEO and assist with the transition of leadership until his departure in July next year. He would remain on the board... 

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