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British mining giant Anglo American is expected to appoint an investment bank any day for a sale of its $US5bn ($7.5bn) portfolio of Australian coalmining assets, according to sources in the market. The sale, which comes after an announced company break-up while it has been fending off advances from BHP, will involve big dollars for what are some of the best metallurgical coal mines in the world. That may limit the field somewhat. One of the parties most strongly positioned for the portfolio is BHP itself, but perhaps it does not want to be seen to be reinforcing Anglo American’s break-up strategy that enhances Anglo’s value. https://lnkd.in/guCywrTH #mining #metals #electrificiation #energytransition #metcoal #coal

Big mining news: Teck Resources Limited is selling its coal business to commodities trader and miner Glencore, Japan’s Nippon Steel Corporation and South Korea’s POSCO in a nearly $9 billion deal. In the deal announced Tuesday, Glencore will pay $6.93 billion for a 77% stake in Teck’s business, while POSCO and Nippon, which currently own minority stakes in Teck coal mines, will hold the rest. Glencore said it also expects to pay $250 million to $300 million to acquire a shareholder loan made by Teck to the coal business. The Glencore deal requires Canadian government approval. The sale ends a months-long saga that transfixed the mining industry and, for Glencore, sets the stage for the commodity giant to exit the coal business itself. The fight over Teck has highlighted the challenges facing miners with large coal operations — the businesses are big profit drivers for both companies, but many investors are increasingly reluctant to hold exposure to the polluting fossil fuel. Expect more to come on this throughout the day. Story in Bloomberg News: https://lnkd.in/gmwCmg-i

TNR Gold Corp. (TSX-V:TNR, OTC:TRRXF) shared an update from McEwen Mining on the Los Azules project in Argentina, where TNR holds a 0.4% net smelter returns royalty (NSR). McEwen Mining has reported enhanced #copper recovery rates from recent metallurgical tests, potentially bolstering project economics. Phase 1 testing demonstrated an average copper recovery of 76%, a 3.2% increase over previous estimates, with reduced net acid consumption. These improvements may significantly impact the project's financials, suggesting increased copper cathode production and enhanced after-tax net present value (NPV), McEwen said in a statement. Additional testing phases are ongoing to support feasibility studies, with Phase 2 focusing on deposit-wide variability and scalability, and Phase 3 examining material from the initial five-year mine plan. More at #Proactive #ProactiveInvestors #TSXV #OTC #TNR #TRRXF http://ow.ly/6MYt105k32Z

Commodities trader and mining company Glencore will lead the deal to buy the steel coal division of Canada’s Teck Resources – Elk Valley Resources or EVR. Glencore will acquire 77% of Teck’s coal business for $6.9 billion. Japanese steelmaker Nippon Steel, which already owns 2.5% of the shares, will receive 20% by acquiring additional capital from EVR, and South Korea’s Posco will exchange its stake in two Teck coal companies for 3% in the steelmaking coal business of Elk Valley Resources. The transaction is expected to be completed in the third quarter of 2024, with a total transaction value of $9 billion. “We are pleased to have reached agreement to acquire Teck’s steelmaking coal operations in the Elk Valley. These world-class assets and the experienced people that operate them are expected to meaningfully complement our existing thermal and steelmaking coal production located in Australia, Colombia and South Africa,“ said Gary Nagle, CEO of Glencore. The sale agreement will end the conflict between Teck and Glencore. It was provoked by the commodities giant’s proposal to acquire the entire Canadian mining company and then split its metals and coal divisions. Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #coal #metals #mining #Canada #cokingcoal

The #social and #environmental #performance of mining organisations is increasingly being linked to financial performance, a link that has been missing from practice and scientifically under-theorised. Environmental and social performance are no longer icing, but the cake of doing #miningbusiness. Voconiq engagement science has taken centre-stage in this emerging development. #localvoices #sociallicence #communityengagement #investinginmining #sustainablemining

Shares in mining major Glencore PLC (LSE:GLEN) were up almost 4% in early trading after it said it was acquiring a 77% stake in Elk Valley Resources (EVR), the steelmaking coal division of Teck Resources, for US$6.93 billion. It is part of a broader deal by the Canadian giant that will see the remainder of the steel business offloaded to Nippon Steel and Korea's POSCO. Talking about Glencore's part of the transaction, chief executive Gary Nagle told investors: “We are pleased to have reached agreement to acquire Teck’s steelmaking coal operations in the Elk Valley. "These world-class assets and the experienced people that operate them are expected to meaningfully complement our existing thermal and steelmaking coal production located in Australia, Colombia and South Africa." The market welcomed the deal with the stock trading up 3.7% at 446.5p.   More at #Proactive #ProactiveInvestors #LSE #GLEN #Glencore http://ow.ly/pf5j1051LcY

Canadian mines for sale… and guess who’s buying it?!? Selling coal assets due to lack of shareholder support, because they can’t tell the difference between metallurgical coal and thermal coal… Another frustrating chapter in the Canadian mining history #mining #coal #steelmaking

SIBANYE-STILLWATER’S COST-CUTTING MEASURES TO SAVE R6.6 BILLION ANNUALLY Green metals and gold mining company Sibanye-Stillwater has implemented measures to address loss-making assets, which are expected to secure annual savings and capital expenditure deferrals of R6.6 billion, announced Chairperson Dr. Vincent Maphai at the company’s online AGM on Tuesday. The Johannesburg- and New York-listed platinum group metals major is focusing on strategic essentials, such as reducing operating and capital costs and improving efficiencies. While prepared for an extended period of low prices, the company remains optimistic about the outlook for its produced metals. Despite the low prices, Sibanye-Stillwater, which…READ MORE HERE https://lnkd.in/dr-zvvKG

Copper is Green and Newmont is Keen! Copper has an important role in the green economy, being used for electricity distribution, electrical equipment and devices, industrial machinery, wind turbines, solar panels and in powering electric vehicles. In December 2023, the Australian Government introduced Australia's strategic materials list, highlighting commodities essential for the energy transition, with Copper listed as one of the five metals. Fantastic to see mining companies taking interest in the metal, and working to increase the available supply. Read the whole article here: https://lnkd.in/gab_Q-dc #RealTimeInstruments #Copper #AustralianMining #Mining Australian Mining Newmont Australia Newmont Corporation #GreenEnergy #EnergyTransition #AustralianGovernment #StrategicMaterials #MiningTechnology #MiningCompany

via Mining.com.au Shareholders of Evolution Energy Minerals have voted in favour of a $3.62 million investment from China-based battery anode specialist BTR New Material Group. This marks the final approval necessary for the investment to go ahead, meaning #EV1 is now set to issue to BTR 25.86 million shares at $0.14 per share — marking a 9.9% interest in the Australian graphite company. Shareholders voted 99.96% in favour of the deal. The parties have agreed to adjust the issue price of the shares under the BTR Investment to $0.14, the equivalent price of the company’s most recent capital raising. The change in the issue price will result in BTR investing $3.62 million into Evolution for a 9.9% interest in the company. Learn more: https://loom.ly/YMxQ8-I #EvolutionEnergyMinerals #graphite #ASX