Mining News - Page 48

The Republic of Argentina has faced challenges in attracting mining investments for various reasons, and possibly some of these are linked to competitiveness in terms of taxation and other regulatory aspects, such as exchange rate regimes and fiscal stability. In the late 1990s, Argentina produced about 200,000 tons of copper, while Peru produced around 400,000. By 2018, Argentina had ceased production, and Peru had reached 2.4 million tons.

Arcadium Lithium has announced a significant reduction in its capital expenditures by US$500 million over the next 24 months in response to current market conditions. However, the company remains committed to boosting production at its key projects in Olaroz and Fénix, located in Argentina, aiming to reach their full production capacity by 2025.

Argentina's Secretary of Mining has reported that mineral exports in June 2024 totaled US$265 million, bringing the total for the first six months of 2024 to US$1.86 billion. These figures represent 4.8% of Argentina's total exports for June and 5.1% for the first half of the year. However, this marks a year-on-year decline of 15.6% for June and 4.5% for the year to date. Despite these drops, the cumulative exports for 2024 are 3.6% above the average level for the same period from 2010 to 2023.

Global lithium chemical producer Arcadium Lithium has announced the acquisition of Li-Metal Corp's lithium metal business. The all-cash acquisition of US$11 million includes the intellectual property and physical assets related to the Canadian company's production, including a pilot plant in Ontario.

In the last quarter, the Hualilán gold project, located in the San Juan province, just 120 km from the capital, has continued to advance in its exploration and development phase. Challenger Gold, the project's owner, has provided a detailed report on the work carried out, highlighting a positive exploration balance and the improvement of various project variables.

The Australian company Galan Lithium Limited, owner of two brine lithium projects in Argentina, has clarified recent media reports suggesting the existence of a takeover bid. The company has stated that it has not received any purchase offer, but it has received an unsolicited, confidential, conditional, and non-binding proposal from Energy Exploration Technologies (EnergyX) for the potential acquisition of its lithium assets.

Formerly known as Fortuna Silver Mines, the company who rebranded itself as Fortuna Mining in early July reported a production of 22,874 ounces of gold at the Lindero mine, located in Salta and operated by its local subsidiary Mansfield Minera SA, as part of its productive and operational results for the second quarter. The performance was similar to Q1, where production volume reached 23,262 ounces with an average gold grade of 0.61 g/t and 0.60 g/t respectively in each period.

In a significant strategic move and one of the biggest transactions in the copper sector this year, Lundin Mining Corporation and BHP have agreed to acquire Filo Corp. in a deal valued at C$4.500 billion.

The Argentine Chamber of Mining Companies (CAEM) issued a statement this Monday calling on mining provinces to join the Incentive Regime for Large Investments (RIGI).

Australian lithium firm Lake Resources has reported that its partner, Lilac Solutions, has unveiled improvements in its Direct Lithium Extraction (DLE) technology, aimed at facilitating the commercial-scale production of the lithium Kachi project located in Catamarca.

Puna Mining and Argosy announced the suspension of its 2,000 tpa lithium plant to optimize resources and focus on the expansion of the Rincón project, located in Salta.

Barrick Gold Corporation has announced the production and sales volume of its iconic Veladero mine, located in the province of San Juan, in which it holds a 50% stake alongside its Chinese partner Shandong Gold. During the last quarter, the mine produced 56,000 ounces of gold, reaching a total of 113,000 ounces year-to-date. In terms of sales, Barrick reported the commercialization of 68,000 ounces of gold produced at Veladero during the second quarter (Q2), bringing the total to 101,000 ounces sold in 2024.

Cerrado Gold has announced the Q2 production results for the Don Nicolás mine, located in the province of Santa Cruz.

The Productivity Board of San Juan, an organization that encompasses the Industrial Union of San Juan, the Mining Chamber of San Juan, the Argentine Chamber of Construction, and the Foreign Trade Chamber of San Juan, has issued a statement highlighting the importance of unity and commitment to ensure the economic development of the province and the country: "The RIGI is crucial to attract major investment projects."

In a recent statement, Austral Gold CEO Stabro Kasaneva announced the latest update on the mineral resources at the Casposo project.

AbraSilver has announced the first set of assay results from its fully funded Phase IV drilling program totaling 20,000 meters at its Diablillos gold-silver project located in Salta.

Australian company Argosy Minerals Limited (ASX: AGY) has announced the signing of a sales contract with a Korean chemical company for the commercialization of 20 metric tons of lithium carbonate. This battery-quality product has been produced at their 2,000 tons per year (tpa) plant located in Salta, Argentina.

Lithium projects in Argentina are at a crucial stage as they are brought online amid a context of falling prices and the need to accelerate production to meet future demands.

Interview with Amanda Hall, CEO of the DLE tech-group Summit Nanotech, about the inflection points that the lithium industry is experiencing today.

The 21st edition of PwC’s “Mine 2024” report offers a detailed analysis of the current landscape and future prospects of the global mining industry. Among other conclusions, the document highlights the fundamental role of major companies in the sector in addressing global challenges such as food security, the transition to a low-carbon economy, and the growing demand for infrastructure and consumer goods.