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Lucapa to sell majority stake in Lesotho diamond mine Australia’s Lucapa Diamond (ASX: LOM) has put its 70% stake in the Mothae mine in Lesotho up for sale to focus on its core assets and is discussing options for the 30% held by the country’s government. The diamond miner’s board said it was “considering all options for the divestment” and finalizing a data room for interested parties. “On review, it is clear the company should streamline the portfolio to focus on our core assets in Africa and Australia,” chairman Stuart Brown said in the statement. “The company’s collaboration with the Lesotho government on the Mothae diamond mine has been rewarding and our management have worked exceptionally well to optimize the plant to recover large diamonds,” Brown noted, adding Lucapa expects there will be “significant interest” from those within the diamond industry and on a wider scale. Production at Mothae, which the Perth-based company acquired in early 2017, began commercial operations almost six years ago. The open pit mine is known to produce large, high-value diamonds, which makes of the operation the world’s second highest-dollar-per-carat kimberlite diamond mine. According to Lucapa’s December 2023 figures, the mine has 180,000 carats of indicated resources and 960,000 carats of inferred resources, with a calculated value of $606 per carat. Mothae is located only 5km from Gem Diamonds’ (LON:GEMD) Letšeng, the world’s highest dollar-per-carat kimberlite diamond mine. Lucapa also has a 40% stake in the prolific Lulo mine in Angola and it’s involved in exploration projects in Angola, Australia and Botswana. Diamond miners has faced a number of significant challenges in recent years, including an excess of stockpiles that has forced top producers to decrease production and lower prices. The growing popularity and affordability of laboratory-made diamonds is also seen as key contributor to the market current issues. #miningrecruitment #cowaninternational #gateway2opportunity

Exciting News 🎉 India is taking a bold step towards exploring its offshore mineral resources, marking a significant milestone with its first-ever auction of 10 offshore blocks. Here are a few more details about this 👇 1/ This initiative includes potential treasures like polymetallic nodules (rich in manganese, copper, nickel, and cobalt), sand, lime mud, and other vital elements. 2/ Due to this India is poised to explore its vast exclusive economic zone (EEZ). This area covers almost 2.37 million square kilometers (915,057 square miles). Moreover, this zone stretches 200 nautical miles (370.4 kilometers) from the baseline of India’s territorial waters. Apart from the auction, through 𝐊𝐡𝐚𝐧𝐢𝐣 𝐁𝐢𝐝𝐞𝐬𝐡 𝐈𝐧𝐝𝐢𝐚 𝐋𝐭𝐝 (𝐊𝐀𝐁𝐈𝐋), a joint venture of public-sector companies, India has initiated non-invasive exploration in Argentina. KABIL is working on several blocks allocated in Argentina and expects to start mining in 2 years. The venture is further expanding its footprint to resource-rich countries like Bolivia, Chile, and possibly Zambia. We at Bathwal Corporation are extremely enthusiastic about these new developments. We are anticipating huge changes in the mining arena. We believe that as a mining community member, it gives us a huge encouragement to pursue projects in the critical mining sector. Government support is certainly much needed in the mining industry and with this step, we can expect the industry to only move onward & upward. These offshore mineral auctions and global exploration efforts are a testament to India’s vision of securing critical resources. And Bathwal Corporation is proud to be part of the Indian mining Industry & witness this monumental change. #mining #metaloremining #news #minerals

*The historic Kipushi mine being reopened by Ivanhoe & Gécamines* ·      Ivanhoe Mines (TSX: IVN) and DRC state miner Gécamines to revive Kipushi zinc-copper-germanium-silver mine by mid-year. ·      Gécamines to increase stake in Kiphusi Corporation from 100% to 38%, further to 43% in 2027. ·      New concentrator and underground development expected to be ready in Q2 2024. ·      Mining could restart in Q2 2024, aiming for over 250,000 tonnes of zinc annually in the first five years. ·      Joint venture marks a new era for the historic Kipushi mine, closed in 1993 due to political instability and low metal prices. ·      After mining certain reserves, Gécamines to hold an 80% stake in the mine. ·      Talks held with the provincial government for a new DRC-Zambia road border crossing at Kipushi. ·      Contractor selected for a 13-km sealed bypass road to connect the main road to the mine site. Read more here: https://lnkd.in/eNeV5bsY #miningnews #mining #copper #coppermining

𝐂𝐏𝐄𝐂 𝐏𝐡𝐚𝐬𝐞 𝟐: 𝐏𝐚𝐤𝐢𝐬𝐭𝐚𝐧 𝐚𝐧𝐝 𝐂𝐡𝐢𝐧𝐚 𝐭𝐨 𝐄𝐬𝐭𝐚𝐛𝐥𝐢𝐬𝐡 𝐌𝐢𝐧𝐞𝐫𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐏𝐚𝐫𝐤 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐆𝐫𝐢𝐝 𝐢𝐧 𝐂𝐡𝐚𝐠𝐢 Federal Minister Planning Development and Special Initiatives, Prof Ahsan Iqbal, held a significant meeting with Mr. Wang Jicheng, Chairman of the Chinese Mining Company operating in Chaghi, Balochistan. The discussion centered around the establishment of a Mineral Industrial Park and the integration of the National Power Grid, key initiatives aimed at strengthening the region's mining sector. Mining has been identified as a priority area in Phase 2 of the China-Pakistan Economic Corridor (CPEC) remarked Federal Minister for Planning Prof Ahsan Iqbal. He said the establishment of the 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐏𝐨𝐰𝐞𝐫 𝐆𝐫𝐢𝐝 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐬𝐮𝐛𝐬𝐭𝐚𝐧𝐭𝐢𝐚𝐥𝐥𝐲 𝐫𝐞𝐝𝐮𝐜𝐞 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐜𝐨𝐬𝐭𝐬 𝐟𝐨𝐫 𝐦𝐢𝐧𝐢𝐧𝐠 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬, 𝐦𝐚𝐤𝐢𝐧𝐠 𝐭𝐡𝐞𝐦 𝐦𝐨𝐫𝐞 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜𝐚𝐥𝐥𝐲 𝐯𝐢𝐚𝐛𝐥𝐞 𝐚𝐧𝐝 𝐬𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞. Furthermore, the proposed Mineral Industrial Park will catalyze attracting investors to set up refineries and processing plants, thereby adding significant value to the raw materials extracted. Federal Minister Professor Ahsan Iqbal commended the Chinese company's efforts in promoting mining activities in Chaghi. He emphasized that such collaborations are vital for the development of Pakistan's mineral resources and for enhancing bilateral ties between Pakistan and China. "The establishment of a Mineral Industrial Park will not only draw investment into the region but also create job opportunities and foster economic growth. Coupled with the National Power Grid, we can ensure a stable and cost-effective energy supply for mining operations," said Professor Iqbal. The meeting concluded with both parties expressing a strong commitment to advancing these projects. This collaboration is expected to pave the way for significant advancements in Pakistan's mining sector, contributing to the overall economic development of the country.

Our grid electricity is the most expensive in the world, mining companies can't afford expensive electricity. If Chinese companies are serious they should install wind & solar+storage batteries to fulfill their electricity needs. This is happening in remote mining areas of Australia. With changing times, PAKISTAN should learn lessons from China, India & Australia & shift to $¢4.5/kWh wind and solar electricity projects. Mr.Ahsan Iqbal is still 10 years behind time.

Indian Miners cold to critical minerals prompt Government to rethink licensing: 10 Jul 2024, 04:30 PM IST The complexity of two separate licences has kept out giants such as BHP, Glencore and Vale from India's critical minerals sector. The last set of auctions found no or few bidders for the blocks on offer. A single composite licence is expected to attract more interest. A composite licence will require an amendment to mining laws. NEW DELHI :The Centre, Government of India, may issue so-called composite licences to find and extract critical minerals, in effort to end the fragmented nature of licensing, and tempt mining giants which passed up the blocks that went on auction last year. Critical mineral auction is currently a two-step process. In the first step, exploration licences are auctioned, and the bidder agreeing to share the lowest amount with a future miner wins the licence. Once a discovery is made, another bid is called, and the miner offering the highest revenue share to the government wins the right to mine. I am not sure, whether this would ease out the problem ? By : Dr Om Prakash Gupta Global Advisor - Mining and Metals New Delhi, India E mail address: opg2729@gmail.com

Article 371A of the Constitution of India has been a major hurdle in the Nagaland government's efforts to regulate small-scale illegal coal mining activities in the state. The unique land rights conferred under Article 371A have made regulating illegal coal mining activities more challenging. Residents in coal-bearing areas depend on illegal mining for sustenance and need to be educated on the adverse effects of such activities. Nagaland's coal mining policy allows rat-hole mining, but despite proper forest and environment clearances and definite mining plans, people are still operating such mines illegally. #AsiaRisk #Regulation #India Follow us for daily updates on risk and operations in Asia! https://lnkd.in/gxXvxFag

The new Porgera mining deal presents an opportunity to address past injustices over the mine's estimated 20-year lifespan. The government secured a 51% equity stake for PNG stakeholders, including a 10% free-carry equity for Porgera landowners. However, the government won't receive dividends for ten years, using the money for care and maintenance costs incurred during the closure. Given the complexity of land ownership issues in PNG, careful negotiations with all relevant stakeholders are crucial. The next 20 years of the Porgera mine's operation will shape the future of landowners and the Porgera-Paiela district. Prudent management and investment of the mine's proceeds could lead to positive outcomes, while mismanagement may result in familiar issues such as environmental degradation, violence, corruption, disputes, and poverty.

Debswana Diamond Company – Gaborone – #Botswana Debswana, a 50/50 joint venture between the government of Botswana and the global diamond giant De Beers, is the leading diamond mining company in Botswana. Established in 1969, Debswana has been a key driver of the country's economic growth, playing a pivotal role in making Botswana one of the world's top diamond producers. The company operates some of the largest and most productive diamond mines globally, including the Jwaneng Mine and Orapa Mine. Jwaneng, often referred to as "the richest diamond mine in the world" due to its high-value output, has been a major contributor to Botswana’s GDP. Orapa, the oldest and one of the largest diamond mines, also plays a significant role in the country’s economy. Together, these mines have made Botswana synonymous with high-quality diamonds. What makes Debswana unique is its commitment to sustainable development. The company's operations go beyond https://lnkd.in/edq-f9sx #DeBeers #DebswanaDiamondCompany

The only intelligent African nation in term of mining management not like the crook and thug leadership that merely accept $70m in investment and $10M in bribes to feed some miserable thieves' pocket #Atlantic LithiumGhana. De Beers to spend $1 billion on Botswana mine expansion Cecilia Jamasmie | January 10, 2024 | 3:42 am News Top Companies Africa Diamond De Beers to spend $1 billion in Botswana mine expansion The Jwaneng open pit diamond mine is moving underground. (Image courtesy of Debswana.) De Beers, the world’s largest diamond producer by value, said on Wednesday it’s going ahead with a planned $1 billion investment to extend the life of its flagship Jwaneng mine in Botswana by moving operations underground. The decision comes amid ongoing weak conditions in the global diamond market, which saw prices for wholesale polished diamonds dropped by a fifth in 2023, dragging down with them rough diamonds.