BREAKBULK.NEWS™’s Post

The British mining giant Anglo American sells its steelmaking #coal mines in Australia to Peabody Energy for $3.775 billion, marking its strategic withdrawal from this sector. L’article Anglo American exits steelmaking coal with major Australian sale est apparu en premier sur energynews.

𝗕𝗛𝗣, 𝗧𝗛𝗘 𝗪𝗢𝗥𝗟𝗗 ‘𝗦 𝗕𝗜𝗚𝗚𝗘𝗦𝗧 𝗠𝗜𝗡𝗜𝗡𝗚 𝗖𝗢𝗠𝗣𝗔𝗡𝗬 𝗪𝗔𝗡𝗧𝗦 𝗧𝗢 𝗕𝗨𝗬 𝗔𝗡𝗚𝗟𝗢 𝗔𝗠𝗘𝗥𝗜𝗖𝗔𝗡 BHP Group Limited , the biggest mining company in the world by market capitalization ,has made a move to acquire Anglo American, De Beers parent company. Anglo American, a diversified mining and metals giant owns 85 percent of De Beers Group, while 15 percent is owned by Government of Botswana. In a statement today Anglo American , headquartered in the United Kingdom ,confirmed that it is has received an unsolicited, non-binding and highly conditional combination proposal from BHP Group Limited (BHP). The proposal comprises an all-share offer for Anglo American by…READ MORE HERE https://lnkd.in/dQ-CeARU

THIS WEEK: WE MAP KOMBAT MINE Trigon Metals CEO Jed Richardson declared in October 2021, when the Kombat copper mine restarted operations, that the day marked a momentous milestone for the company, the mining community, and Namibia. Three years later, Richardson's words have come to pass: Kombat is not only one of Namibia's oldest mines but one that is producing copper. Kombat Mine is operating at a run rate of 1,000 tons per day, processing ore grade of ~1.0% Cu. Its combined indicated mineral resource is 13.56 Mt, 1.92% Cu, 0.73% Pb, and 14 g/t Ag. Trigon Metals President and Chief Operating Officer Rennie Morkel said Kombat has an estimated life of 15 years, with a combined resource of 15.56 million tons at 2% copper, 0.73% lead, and 14 grams of silver. Rennie Morkel also said Kombat Mine has over 150 million tons of infrastructure and produces copper, silver, and lead concentrate. Rennie Morkel said: We've planned only to be able to mine 15,000 tons underground and 15,000 tons from the open pit for the remainder of this year or for the full year 2025. TotalEnergies plans to drill the 17th well in the Orange Basin in 4Q of 2024. The Tamboti prospect will be TotalEnergies' 6th well in the Orange Basin after the Venus-1X, Venus-1a, Venus-2a, the Nara-1A, and the Mangetti-1X. The Orange Basin has seen about 16 wells drilled and 13 discoveries, with 21 bboe made between 2022 and 2024. The mines ministry has permitted drilling of 55 other wells in the Orange Basin. Halliburton wants to invest US$10.5 million for its proposed Liquid Mud Treatment and Completion Fluid Plant (LMTP) at Walvis Bay. SLR Consulting says the proposed project directly supports the current exploration operations off southern Namibia and potentially future production well drilling. The project is expected to create up to 22 jobs during the peak operation period at the local level. #copper #silver #lead #oil #gas Sinomine Tsumeb Smelter Fanie Müller Andreas Rompel Knowledge Katti epangelo mining company You can read this week's magazine and other back issues here: https://lnkd.in/dX83j-v2

Trigon further expands mineralized zones at Kombat Mine Trigon Metals has announced significant drilling results from its Kombat mine in Namibia, revealing high-grade copper and silver intersections across multiple levels. Notable findings include 8 metres at 10.44% Cu and 35.34 g/t Ag at Level 1, and 3 metres at 6.81% Cu and 87.83 g/t Ag at Level 3. The drilling program targeted orebodies adjacent to historic workings and near existing underground development at Shaft 1, with holes drilled at levels 1, 3, and 4. The results have extended known mineralization and mineable tonnes in the upper levels. The company also issued a correction regarding previous disclosure about the planned sale of its interest in the Kombat Mine to Horizon, clarifying that Trigon holds an 80% interest in five mining licenses in the Otavi Mountainlands. https://lnkd.in/dGzm8iVX

𝗠𝗶𝗻𝗶𝗻𝗴 𝗰𝗼𝗺𝗽𝗮𝗻𝘆 𝗙𝗼𝗿𝘁𝗲𝘀𝗰𝘂𝗲 𝗶𝘀 𝗽𝗿𝗲𝗽𝗮𝗿𝗶𝗻𝗴 𝗳𝗼𝗿 𝗶𝘁𝘀 𝗳𝗶𝗿𝘀𝘁 𝗶𝗿𝗼𝗻 𝗼𝗿𝗲 𝘀𝗵𝗶𝗽𝗺𝗲𝗻𝘁 Australian mining company #Fortescue is preparing to ship its first shipment of iron ore from its #Belinga mine in #Gabon, ahead of #Simandou project, one of the largest #ironore projects in West Africa. The company is reported to be planning to ship the first ore from the 2 million tons/year Belinga mine next week. Managing Director of Fortescue, Dino Otranto, explained that the first ore will be loaded onto a train in June and the shipment will leave the port of Libreville next week. Speaking to investors at its annual general meeting in Perth, Otranto said mine development was also on a positive trajectory, with a major exploration #drilling campaign underway. Fortescue intends to develop a larger mine at Belinga to rival the up to 150 million tons/year Simandou iron ore project in Guinea, as demand for high-quality ore from #Africa supports the production of lower-carbon steel. Located around 150 km from the existing Trans-Gabon railroad, which can transport ore to Libreville, Belinga has fewer infrastructure issues for an initial production of 2 million tons/year, the company notes. https://lnkd.in/dVp67WQf

The mining market is much abuzz with news of BHP's unsolicited US$39bn offer for Anglo American, along with reasons why it is good for the industry and should go through. Adding more copper units via M&A for a company the size of BHP is probably the only way to do it, and with Anglo share price a bit weak, it makes sense for an opportunistic bid in light of forecasted deficits. However, I'm going to put my contrarian hat on and say I don't think it's good for the industry and that I don't think it'll go through. Here's why:   Why it isn't good for the industry The combined entity will be a behemoth producer, responsible for ~10% of global mined production (around 2Mtpa). It will also have several major projects on its books – new Escondida concentrator, Los Bronces UG, Carrapateena Block Cave expansion, and several Collahuasi projects. I don’t believe BHP will be able to develop all of these, definitely not concurrently and maybe not even sequenced. This in turn means fewer copper units coming to the market and with deficits already forecast, this is bad for all (but positive for price, although that will likely lead to some demand destruction which in turn is…bad).   Why it won’t go through Regulatory hurdles. I expect China, Australia and South Africa at the least will want to have a say in the deal and this will likely change its complexion, perhaps to the point of no longer making sense. The price of the Xstrata / Glencore deal was the sale of Las Bambas to prevent too much copper in the hands of Glencore, and that original deal would have been responsible for ~7% of global mined production. This deal has a higher concentration, so I expect there to be some negotiating, possibly for the sale of some copper assets but then the deal likely no longer makes sense for BHP. Other anti-trust issues have been noted elsewhere, and I agree.   Whatever happens this will be a long and complex procedure. I have my popcorn ready.

Big news in the mining world with the proposed take over of Anglo American by BHP. The size of the story is only dwarfed by the sums of money being quoted - £31bn! What will be the effect on the workforce? What will be the effect on the economies where the companies operate? Anglo are huge employers in South Africa and an South America. I can only imagine the amount of work being done by the People teams in these businesses. As a People professional would you see this deal as an opportunity to create impact or an opportunity to move on? https://lnkd.in/edw7GRbw

🔔 Newmont Reopens Cerro Negro Gold Mine in Argentina 🔔 🌟 A Significant Step for Gold Mining 🌟 Newmont, the world's largest gold producer, has resumed operations at its Cerro Negro mine in Argentina after a six-week suspension due to the deaths of two workers. Marcelo Campos, the mine's general manager, highlighted Newmont's commitment to safety and operational excellence. The Provincial Chamber of Providers and Services (Capromisa) had expressed concerns about the impact of the suspension on SMEs and service providers, urging a swift investigation and expedited administrative processes. Located in Patagonia, Cerro Negro is crucial for Newmont in South America, generating over $500 million in annual exports. The mine is undergoing a $540 million expansion project that will extend its life until 2034, with expected production of over 350,000 ounces starting in 2024. Do you think that in this way Newmont reaffirms its leadership in the mining industry with a strong focus on safety and community impact? https://lnkd.in/dDbMtDQi #Lithium#gold  #criticalminerals #evcharging #energytransition #cobalt #nickel #graphite #ESG #mining#Mining #Digitalization #SustainableEnergy #TalentManagement #Efficiency

BHP and Lundin Mining Corporation have announced a joint acquisition of Filo Corp., owner of the world-class #FiloDelSol copper-gold project, located along the border of the San Juan Province in #Argentina 🇦🇷 and the Atacama Region of #Chile 🇨🇱 . The deal, valued at approximately $3 billion (C$4.1 billion), underscores the intense competition for securing large-scale, long-term copper supply. By acquiring #FiloDelSol, BHP and Lundin Mining Corporation are making a significant investment in a project with huge copper potential. This project, which will require significant capital and time to bring into production, reflects the industry's long-term outlook on copper demand. 🔋 #FiloDelSol is an advanced-stage exploration project boasting a unique geological setting with multiple mineralization styles, including porphyry-epithermal with copper, gold, and silver enrichments. Drilling has intersected high-grade mineralization, with some holes exceeding 1km in depth and assaying over 1.0% copper equivalent. These exceptional results highlight the project's immense potential. 🚀 BHP and Lundin Mining Corporation have also agreed to form a 50/50 joint venture to develop the #Josemaria copper project, currently 100% owned by Lundin. The proximity of the two projects offers opportunities for shared infrastructure, enhancing the overall value of both ventures. With our #SaaS platform, you can explore all mining projects and available opportunities. Don’t miss out on the chance to dive into #Andes potential! 🌟 We are powered by ESRI Schweiz AG, Amazon Web Services (AWS), Maxar Technologies. 🤝 #mining #copper #gold #investment #jointventure #BHP #lundinmining #filodelsol #argentina #chile

A shortage of drilling equipment has caused a quarterly drop in platinum group metals (PGMs) and chrome output at Tharisa mine in South Africa's platinum belt. A Tharisa spokesperson told Mining Magazine today that it used drilling to "determine where we need to mine our benches". The drilling shortage led it to shift its mining pattern from its east pit to its west pit, which has a "more oxidised" ore and "more compact" reef system. Read more: https://lnkd.in/e6nb8QED