Australia's two major gold companies will merge
Northern Star Resources of Australia will acquire Saracen Mineral Holdings, a deal that will create a gold giant worth 16 billion Australian dollars ($11.5 billion). In terms of market value, the combined company will become the world's eighth largest gold mining company. The two companies said in a statement that the combined company has mines in Australia and Alaska and will produce 2 million ounces of gold each year starting in fiscal year 2027. The company is also expected to save up to A$2 billion in operating costs. Northern Star, Australia's second-largest gold mining company, will hold 64% of the combined company, and Saracen will hold the remaining 36%. The two companies said they will hold a general meeting of shareholders in January 2021 to formally approve the proposal.
K+S AG sells US salt business for US$3.2 billion
German fertilizer producer K+S AG sold its US salt business to the Kissner Group for $3.2 billion, which will provide the company with much-needed funds to repay debt. The transaction is expected to be completed in the summer of 2021, which will enable K+S AG to focus on potash products. The company is also taking other measures to reduce debt, and by 2021 its balance sheet will increase to more than 2 billion euros ($2.3 billion).
Chile expects mining investment to reach US$74 billion in the next 10 years
Chile's Chilean Copper Industry Commission stated that Chile's mining investment is expected to reach US$74 billion in the next 10 years. The investment is mainly driven by the copper mining industry, and investment mainly comes from large-scale projects of the world's top mining companies such as Antofagasta, Lundin Mining, Teck Resources and Kinross Gold. However, the agency pointed out that due to the new crown pneumonia epidemic, 23 projects worth $44 billion have been postponed. Chilean Mining Minister Bardo Procurica stated that the copper industry accounts for 89.4% of the country's total investment, and he is optimistic about the upcoming large-scale investment. The Chilean Copper Industry Commission said that as the demand for white metals increases, investment in the lithium industry is also expected to expand.
Zambia royalty dispute affects copper mine projects
According to industry lobby groups, Zambian copper miners have stopped their planned investments of US$2 billion because the royalties introduced last year made these projects impossible. In the past 12 months, relations between Zambia and mining investors have deteriorated. For example, the government and Glencore are in conflict with their plans to suspend the Mopani copper mine business. The First Quantum Mining Company's plan to invest US$1 billion to extend the operating life of its Kansanshi mine will have to wait until royalties are deducted from other corporate taxes. Implement.
BHP Billiton pledges US$800 million to expand Australia's mining team
BHP Billiton announced that it will provide funding for 3,500 new Australian apprenticeship and training positions and will invest US$450 million to support business opportunities in the Australian mining, equipment, technology and service industries. This plan, which costs nearly 800 million US dollars, is expected to be implemented in the next five years. BHP Billiton stated that these investments will create channels for future talents in high-skilled jobs. These talents will work in an industry that provides important products to the world, creates foreign exchange for exports, and maintains the strong Australian economy.
Brazil's September iron ore exports hit the highest level since 2015
After Vale accelerated its production pace, Brazil's iron ore exports in September increased by 18.5% year-on-year and 21% month-on-month to 37.86 million tons. Analysts said that the main reason for the increase in exports was the significant increase in the amount of iron ore exported from Brazil to China in September. According to data from the Brazilian Ministry of Industry, Foreign Trade and Services, the export volume of Brazilian iron ore in September hit the largest record since December 2015, when the monthly export volume was 39.5 million tons. From January to September, Brazil exported a total of 248 million tons of iron ore. The IBRAM industry organization predicts that Brazil’s iron ore exports will reach 310 million tons in 2020, lower than the 340 million tons in 2019.
National Mining Development Corporation of India continues to increase iron ore output in September
In September, India’s largest iron ore producer, National Mining Development Corporation (NMDC), continued to record year-on-year growth in iron ore production and sales. According to official website data, the company's iron ore output in September was 1.83 million tons, an increase of 11% year-on-year; iron ore sales were 2.11 million tons, an increase of 10.5% year-on-year. From July to September, the iron ore output of the National Mining Development Corporation of India reached 5.63 million tons, an increase of 6.5% from the 5.29 million tons in the same period last year; the sales volume was 6.5 million tons, an 11.5% increase from the 5.83 million tons in the same period last year.
Newmont advances exploration activities in Colombia
Newmont Mining, the world's largest gold producer, and Anico Eagle Mining have established a 50%/50% joint venture in Colombia to explore the Mid-Cauca zone in the northwest of the country. The joint venture will focus on the Anzá gold project, where Newmont has revenue rights, and potential gold exploration targets in other areas of Colombia.
Anglo American wants to explore base metals in South Africa
Anglo American CEO Mark Coutifani said that the company hopes to explore base metals in South Africa, but the country needs regulatory reforms to improve competitiveness. Anglo American stated that its interest in base metals such as copper, nickel, lead and zinc is part of its global discovery strategy for greenfield and brownfield projects. Coutifani also expressed the hope that its South Africa platinum group metals business will increase nickel production and use it for battery production.
Newcrest approves expansion of gold mine project
Australia's largest gold producer Newcrest Mining Limited said its board of directors has approved the second phase of the expansion of its flagship Cadia gold mine and Lihir mine's front-end recycling projects. The expansion is expected to cost 236 million US dollars and will increase the production and recovery rates of the two gold mines.
