Aterian plc’s Post

Funding for early-stage exploration is a huge challenge for the mining sector, which is facing a severe discovery deficit at precisely the time we need to find more metals to feed the energy transition.    BHP’s answer to this acute challenge is BHP Xplor, a global accelerator program targeting innovative, early-stage mineral exploration companies looking for the critical resources necessary to drive the energy transition. Companies are invited to apply for purses of US$500,000 in equity-free funding through the program and Xplor will position itself to provide ongoing support for systematic exploration on the back of any early success. We look forward to hearing from Charlee Johnson and Niall McCormack who will outline the application process and include a panel discussion together with an open Q&A with attendees. #BHP #BHPXplor #ResourcingTomorrow

📈 Trends in mineral and energy exploration spending Mining companies hauled back on exploration for minerals across the board, even the so-called key renewables. Even gold exploration, the perennial favorite, saw spending fall despite a series of record prices. Australian explorers and miners just were not that interested in the first quarter. Spending on other key minerals also fell, but oil and gas saw a jump with some new drilling campaigns. The slowdown in gold, in particular, was an intriguing move given the record surge in prices in late 2023 and through the first quarter (and into the second all the way to last month and now in June). In fact, since a low of around $US1,834 in April of last year, Comex gold futures are up over $US500 (to Monday’s close of $US2,368 an ounce), a gain of just under 30%. And yet, that trend has seen gold exploration spending in Australia fall. Gold exploration spending peaked at $421 million in the June 2022 quarter. Australian Bureau of Statistics data for exploration spending shows that it remained over $1 billion in total for the mining and resource industries as a whole, but there were some notable falls. Read more: https://lnkd.in/gpttznb #EnergyIndustry #SustainableEnergy #Innovation #HydrocarbonExtraction #DeepLearning #SeismicAILab #HydrocarbonFields #MultidomainApproach #GeologicalModeling #DataProcessing #ArtificialIntelligence #OilandGasIndustry #SeismicAI #DeepLearning #Innovation #SeismicExploration #energy #goldexploration

The Department of Mineral Resources and Energy and the Industrial Development Corporation have signed a #MemorandumofAgreement officially establishing the #JuniorMining #Exploration #Fund. The establishment of this fund forms part of #SouthAfrica’s #mineral exploration #strategy.

The Department of Mineral Resources and Energy and the Industrial Development Corporation have signed a #MemorandumofAgreement officially establishing the #JuniorMining #Exploration #Fund. The establishment of this fund forms part of #SouthAfrica’s #mineral exploration #strategy.

Snow Lake to secure 85% stake in Engo Valley Uranium Project Snow Lake Resources, a Canadian-headquartered minerals company, has finalised a binding letter of intent (LoI) to acquire an 85% interest in Namibia Minerals and Investment Holdings (Proprietary) Limited, the owner of the Engo Valley Uranium Project licence. The acquisition will occur in two stages, and the project is situated along the Skeleton Coast in the Opuwo District of the Kunene Region. First stage interest, Snow Lake will acquire 68% interest by making a cash payment of N$4.8 million (US$250,000) and spending N$3.9 million (US$200,000) on exploration through issuance of common shares valued at N$39 million (US$2 million) contingent upon due diligence completion. https://lnkd.in/dvbpSbQg #namibia #uranium #mining #investment Chamber of Mines Namibia

Exploration is the theme this month with $5 million in funding available for miners to discover new mineral deposits across Queensland. Queensland Exploration Council AMEC (Association of Mining and Exploration Companies) Eagle Drilling NQ Pty Ltd #exploration #drilling #criticalminerals #neweconomyminerals

AuKing Mining Limited (ASX:AKN) has announced a pro-rata non-renounceable entitlement offer to raise approximately A$1.48 million at an issue price of 0.7 cents per share to be directed towards advancing exploration efforts across its portfolio of projects. Investors will also receive one unlisted attaching option, exercisable at 3 cents per share and expiring on April 30, 2027. The capital raised will primarily support AuKing’s drilling programs, including drilling at the Mkuju #uranium project in southern Tanzania and at Sandiego North, part of the Koongie Park copper-zinc project in Australia. The funding will also support a radiometric survey over the Myoff Creek #niobium and rare earth element (REE) project in Canada and a soil sampling program at the newly-acquired Great Codroy uranium project in Newfoundland, Canada. More at #Proactive #ProactiveInvestors #Energy #UraniumMining #RareEarthElements #BatteryMetals #CriticalMinerals http://ow.ly/A9WV105Ir8C

Moab Minerals Limited (ASX:MOM) is pleased to provide an overview of activities for the period ending 31 March 2024. Moab Managing Director, Mr Malcolm Day, commented: “During the Quarter, we announced the acquisition of Linx Resources Pty Ltd that owns two exciting uranium projects in Tanzania. This move signifies a significant directional shift to uranium exploration in Africa. The task at hand is to upgrade the historic MRE at Manyoni to JORC 2012 and at the same time to increase resources by additional drilling in prospective areas. The Octavo tenement is more grassroots but is located in a highly prospective area adjacent to Rosatom’s worldclass uranium deposit at Nyota. In June 2023, Moab acquired an initial 14.64% (now diluted to 11.02%) interest in CAA Mining, an exploration and development company focused on lithium and gold exploration in Ghana, Africa. This provides Moab shareholders with an interest in three projects that are complementary to its existing assets and expands its business as a junior exploration company. The board continues to monitor the exploration results from CAA Mining’s Ghanaian lithium projects. I would like to thank shareholders for their support to date and we look forward to providing further exploration updates.” Read more: https://lnkd.in/gXdRjvdh $MOM #uranium

The AREEA - Australian Resources & Energy Employer Association has released modelling investigating the estimated labour required to operate new, expansion and restarted mining, oil and gas projects expected to enter production by December 2029. #futuremining #miningnews #resourcessector #miningmagazine