Proactive’s Post

🔔 Many Peaks Minerals (ASX:MPK) Option To Acquire Baga Gold Project, Cote D’ivoire 🔗 https://bit.ly/3L00umI Many Peaks is pleased to announce it has entered into a binding agreement to secure an exclusive right to acquire a 100% interest in two permits totaling 644Km2 in eastern Cote d’Ivoire. Many Peaks’ Executive Chairman, Travis Schwertfeger commented: “Having quickly established ourselves in Côte d’Ivoire and successfully initiating exploration activity within weeks following acquisition of the exciting Odienné and Ferké projects, the Company is very pleased to identify an additional opportunity further bolstering our pipeline of projects for growth within the same jurisdiction.  The Baga Gold Project is complimentary to the existing portfolio in Côte d’Ivoire providing several operational synergies delivering opportunities for an increase in positive results to the market and significant leverage to adding value through exploration success. Located in a region that has demonstrated its potential to host world-class gold deposits, this acquisition aligns with our commitment to adding shareholder value through innovative and cost-effective exploration, discovery, and resource development.” #gold #goldmining #WestAfrica #Mining #miningnews #miningstocks

Kefi progresses towards the launch of the Ethiopian gold project.🚜 KEFI Gold and Copper, listed on AIM, has reported significant progress in its high-grade gold project at Tulu Kapi, Ethiopia. Remaining processes for financial syndicate board approvals are underway for final (conditional) approvals in May, while preparations for project launch have commenced at Tulu Kapi." "Kefi highlights that these developments align with progress being made in other gold projects in the country, signaling a positive shift in Ethiopia over the last two years. With operational progress and corporate activity increasing, EFI Gold and Copper is poised to contribute significantly to local and regional economic growth." https://lnkd.in/dMAsb3gm #Lithium#gold #paneldiscussion #criticalminerals #evcharging #energytransition #cobalt #nickel #graphite #ESG #mining#Mining #Digitalization #SustainableEnergy #TalentManagement #Efficiency

Saudi Arabia Eyes Major Stake in Zambian Copper Mine Saudi Arabia is in advanced negotiations to acquire a significant stake in a Zambian copper mine, with a deal expected by year-end, according to Ma'aden CEO Robert Wilt. Manara Minerals, a joint venture between Ma'aden and Saudi Arabia’s Public Investment Fund, aims to secure a 15-20% share in Canadian miner First Quantum Minerals’ copper and nickel assets in Zambia. The potential $1.5-$2 billion investment aligns with Saudi Arabia's Vision 2030, emphasizing economic diversification beyond oil. Wilt highlighted copper’s essential role in the energy transition, positioning it as a priority for Manara’s international mining interests. This expansion builds on Manara’s recent acquisition of a 10% stake in Vale’s copper and nickel division, reinforcing Saudi Arabia’s commitment to securing critical resources for its industrial growth.

Coverage stock OreCorp Limited (ASX: ORR) (initiated @ $0.40 in Aug 2023) has seen Silvercorp Metals’ (TSX, NYSE: SVM) planned takeover cleared by the Tanzanian Fair Competition Commission (FCC). The decision paves the way for the Canadian miner to complete the acquisition of OreCorp and its flagship asset — the Nyanzaga gold project in Tanzania. Silvercorp trumped in January a competing bid by Perseus Mining (TSX: PRU; ASX: PRU). OreCorp's Nyanzaga Project would cost $474 million to build and produce 242,000 ounces of gold per year over its first decade, according to the definitive feasibility study issued in August 2022. The project, which could reach annual output of 295,000 gold ounces, is about 30 km northeast of Barrick Gold’s (TSX: ABX; NYSE: GOLD) Bulyanhulu mine. It is also 60 km east of AngloGold Ashanti‘s (NYSE:AU) Geita gold mine. Nyanzaga has an after-tax net present value of $618 million at a 5% discount rate and an internal rate of return of 25% based on a $1,750 per oz gold price. The government of Tanzania holds a 16% non-dilutable free carried interest in the project. #gold #equities #Africa #Tanzania #commodities #resources #ausbiz

—Company Update— GOLDPLAT PLC announces Commitment to Invest further into Local Beneficiation in Ghana. Gold Recovery Ghana Limited (“GRG”), the wholly owned subsidiary of Goldplat Plc, has submitted a proposal to the Minerals Commission of Ghana to invest a further, circa GBP900,000 to upgrade their facilities in Tema. The decision to invest has been driven by high shipping and refining costs and the Ghana authorities’ increased focus on local beneficiation. Through recent engagement with the Ghana authorities, it has become clear that their preference is for GRG to refine as much material to bullion as possible in Country. Klingenberg Werner, CEO of Goldplat comments: “We are delighted to be able to increase our capability in Ghana to handle gold by-products from the mining industry in Ghana, elsewhere in Africa and South America. This supports our commitment to build a global hub for processing of these types of material in Ghana.” RNS for more: https://lnkd.in/eVYe2d-7 === Cc Tim Thompson #GDP

🚨 Breaking news from Burkina Faso! Despite reports emerging over the weekend the Burkinabe Government plans to withdraw mining permits held by multinational miners, ASX-listed gold producer West African Resources remains focused on operating the Sanbrado mine and constructing the Kiaka project “without interruption”. 🎥 Watch now: Take a look back at the presentations from West African Resources and Burkina Faso’s Ministry of Mines, Quarries and Energy at last month’s Africa Down Under conference! 🔗 West African Resources: One of the best-performing gold stocks on the ASX, producing over 200,000 ounces of gold annually from their Sanbrado mine, with a second project underway at Kiaka. The company’s general manager, sustainability, Mirey Lopez shares its success story: https://lnkd.in/g8B9B-sE 🔗 Burkina Faso Government: Ousmane Barbary from the Ministry of Mines, Quarries, and Energy highlights the nation’s burgeoning gold sector and its rich prospective nature: https://lnkd.in/gkxPU99q #ADU #GoldMining #WestAfricanResources #BurkinaFaso #MiningIndustry #Sustainability #GoldSector #ASX #MinesandEnergy

**West Africa Major Gold Developments to 2030** - #AhafoNorth project, Ghana: Majority owned by Newmont Corporation , 20% of construction completed as of February 2024. Expected to produce 300koz of #gold annually, with operations starting in the second half of 2025. - #Kiaka project, Burkina Faso: Majority owned by West African Resources , 35% of construction completed by March 2024. It will produce 220koz of gold annually, with operations expected to start in Q3 2025. - #Lafigue project (Fetekro Property), Ivory Coast: Majority owned by Endeavour Mining , construction began in Q4 2022. The project will produce 203koz of gold annually, with operations commencing in Q2 2024. - Black Volta Gold project, Ghana: Wholly owned by Ibaera Capital, construction-ready and awaiting regulatory approvals. The project is set to produce 163koz of gold annually, starting in 2025. - #Baomahun Gold project, Sierra Leone & Kiniero Gold project, Guinea: Baomahun (147koz/year) is under construction, aiming for production in 2025. Kiniero (90koz/year) owned by Robex Gold Resources Inc, is advancing construction with expected production in 2024. #mining #mineralexploration #mineralprocessing

Saudi Arabia is being very smart in growing their #mining footprint. With $2.5 trillion of estimated reserves in-country, Ma'aden will play a significant role in and beyond the country. A theme at the Future Minerals Forum was partnership, where the Saudi’s look to leverage growth in-country as well as in Africa, the Middle East and parts of Asia. What does this mean for artisanal miners in the regions? 🏹 millions of people participate in #asm across these regions, many focused on #preciousmetals like #gold, many on #criticalminerals like #cobalt or #copper 🏹 these miners are often early indicators for LSM exploration- surface level artisanal mining points toward potential underground reserves 🏹 as extensions of neighboring communities, artisanal miners are an important stakeholder for earning social license. Collaboration makes economic sense, conflict would just destroy mutual value 🏹 formalization can change the game on the dignity and productivity of work for artisanal miners while enabling broader #sustainabledevelopment. Productivity increases make ASM formalization commercially viable for savvy #mininginvestment Integrating artisanal mining into broader strategy is a clear potential opportunity given a Saudi approach that is partnership oriented. Time will tell how the details unfold. The Blended Capital Group and our great partners Alliance for Responsible Mining (ARM) Levin Sources BanQu Inc. Napier Meridian are committed to the dignity and productivity that ASM formalization will deliver. Now is the time. https://lnkd.in/gU7VeaCi

Saudi Arabia is progressing in talks to acquire a stake in a Zambian copper mine, with a deal anticipated by year’s end, according to Ma’aden CEO Robert Wilt. Speaking at the Future Investment Forum in Riyadh, Wilt, who also serves as vice chairman of Manara Minerals , a joint venture between Ma’aden and the Saudi Public Investment Fund (PIF)—shared that discussions are in “pretty advanced” stages. Sources indicated that Manara is close to securing a 15% to 20% equity stake in Canadian miner First Quantum Minerals' Zambian copper and nickel assets, estimated between $1.5 billion and $2 billion. “Africa’s mineral-rich copper belt and our growing need for copper make Zambia a logical choice,” Wilt added. This potential deal aligns with Saudi Arabia’s Vision 2030 strategy, spearheaded by Crown Prince Mohammed Bin Salman, to diversify from oil dependency. Manara’s international mining interests began with a 10% stake in Vale’s Base Metals in 2023, and copper has become a top priority as Saudi Arabia strengthens its supply chain in metals essential for energy transition.

We are pleased to announce the successful completion of our acquisition of an 85% interest in the highly prospective Mumbezhi Copper Project, located in the renowned Zambian Copper Belt. As part of the agreement with Global Development Cooperation Consulting Zambia Limited, we have: 🌟 Transferred total cash consideration of US$5.5 million 🌟 Issued 7,014,590 ordinary shares in Prospect to GDC Our Managing Director and CEO, Sam Hosack, commented: "We have now completed both the purchase agreements struck for the highly prospective Mumbezhi Copper Project. This represents the successful conclusion to Prospect’s commercial unlocking of this previously disputed and potentially world-class copper-cobalt asset.” “The Nyungu deposits at Mumbezhi have all the potential facets of a high-value, long-life, high-margin, open-pittable copper-cobalt mining and processing operation, with regionally favourable metallurgy and significant exploration upside. Zambia is also a leading jurisdiction to explore and develop mining operations in sub-Saharan Africa." “Work to date has confirmed the potential of this project and we are excited to commence initial drilling and metallurgical test work programs during Q3 2024.” Read the full announcement here: https://bit.ly/4bVbope #ProspectResources #PSC #Mining #Copper #MumbezhiCopperProject #Exploration #MiningInvestment #ZambianCopperBelt