Business and Finance
West Australian gold exploration company Rox Resources (ASX: RXL) has entered a binding agreement to sell its Mt Fisher Gold Project in Western Australia to High-Tech Metals Limited (ASX: HTM). The transaction, valued at $1.5 million in cash alongside equity and royalty components, is expected to be finalised by late…
SLNC secures US$1.4b financing for HPAL plant in Indonesia
Sulawesi Nickel Cobalt (SLNC) has successfully secured $1.4 billion (Rp22.93 trillion) in financing to construct a high-pressure acid leach (HPAL) plant on Sulawesi Island, Indonesia. This project marks a significant milestone in Indonesia’s efforts to expand its nickel processing capabilities and strengthen its position in the global battery materials supply…
US and Ukraine to establish reconstruction fund under draft minerals agreement
In a move that could reshape economic and geopolitical dynamics, the United States and Ukraine have reportedly reached an agreement on a draft minerals deal. The agreement centres around establishing a Reconstruction Investment Fund designed to reinvest revenues generated from Ukraine's rich reserves of minerals, hydrocarbons, and other extractable resources.…
BHP to invest US$2bn in Escondida copper mine, seeks environmental permits
BHP is set to inject US$2 billion ($3.16 billion) into optimising the concentrator at Escondida, the world's largest copper mine. This investment is part of a larger US$10.8 billion (10.18trn pesos) commitment to its Chilean operations. The company intends to submit the plan for environmental permitting shortly. The announcement coincided…
Equinox Gold and Calibre Mining merge to form Americas-focused gold producer
Equinox Gold (TSX: EQX, NYSE: EQX) and Calibre Mining (TSX: CXB, OTCQX: CXBMF) have announced a definitive agreement to merge in an at-market business combination that will see Equinox Gold acquire all outstanding common shares of Calibre. The resulting entity, to be named New Equinox Gold, is poised to become…
Anglo American and Codelco forge strategic alliance to optimise copper production in Chile
In a major move set to reshape copper production in Chile, Anglo American and state-owned mining giant Codelco have announced a memorandum of understanding (MOU) to jointly optimise operations at their adjacent Los Bronces and Andina copper mines. The agreement, formalised through Anglo American's 50.1 per cent-owned subsidiary, Anglo American…
Vale approves US$1.98bn shareholder payout despite Q4 net loss
Brazilian mining giant Vale has announced a US$1.98 billion shareholder payout for March 2025, boasting an annualised dividend yield of 10.4 per cent, despite reporting a net loss of US$694 million in the fourth quarter of 2024 (Q4 2024). The loss was primarily driven by impairment losses on its base…
White & Case advises MMG Ltd on acquisition of Anglo American’s nickel business in Brazil
Global law firm White & Case LLP has successfully advised MMG Limited on its definitive agreement to acquire Anglo American’s nickel business in Brazil for a cash consideration of up to US$500 million. This marks MMG’s first investment in Brazil and represents a significant expansion of its portfolio, particularly in…