Fortescue has a number of agreements with Chinese companies
Australian iron ore producer FORtescue Metals signed memorandums of understanding worth $3bn - $4bn with Chinese steel mills, sourcing partners and financial institutions at the China International Import Expo in Shanghai.
The company has signed 12 memorandums of understanding on iron ore supply and procurement opportunities with hunan Valin Iron & Steel Group, its long-time partner and major shareholder, and a memorandum of strategic co-operation with The Bank of China.
FMG also signed nine other memorandums of understanding with Chinese steel mills and purchasing partners, including Baotou Steel, Benxi Iron & Steel Group International Economic and Trade Co., Dalian Huarui Heavy Industries Group Co., and Guangxi Shenglong Metallurgical Co.
Search Minerals has partnered with U.S. Rare Earths to promote key mineral development
Search Minerals of Canada and RARE earths of the US announced on Tuesday that they have signed a technical co-operation framework agreement to manage their initial co-operation to advance the development of mineral resources held by the two companies.
Search Minerals has a patented direct extraction process technology and a 100 per cent stake in a key rare earth element region in southeastern Labrador, while US rare earths companies are building a rare earth mineral-magnetic integration strategy independent of China, including funding and developing the Round Top project in western Texas.
Peabody Energy warned of the risk of bankruptcy
Peabody Energy, the world's largest private coal company, says it is at risk of filing for bankruptcy for the second time in five years because of poor performance and deteriorating market conditions during the COVID-19 outbreak.
Peabody energy company on November 9, submit a copy of the file, according to the company's outstanding debt due within 12 months after the repayment ability and the ability to continue as a going concern is a major doubt, and with the company are listed in the third quarter financial results, market conditions, additional mortgage requirements and potential don't abide by the credit agreement related to the overall risk.
Endeavour Mining and Teranga are in negotiation of a merger
Endeavour Mining confirmed on Tuesday that it was in discussions with Teranga about a potential merger.
Endeavour Mining is considering an all-share offer for the Toronto-listed company, which could offer a small premium, people familiar with the matter told Bloomberg.
Teranga also confirmed the talks in a separate statement.
Teranga's Shares in Toronto were up 4.5 per cent as of midday on Tuesday, while Endeavor's fell 5.7 per cent.
Anglo Gold has suspended operations at Cerro Vanguardia mine
Anglo Gold has voluntarily suspended operations at Cerro Vanguardia Mine in Argentina after an employee tested positive for coronavirus.
The company said basic activities will continue during the shutdown, which is expected to affect production by 8,000 ounces.
Operations at Cerro Vanguardia will resume on 20 November, but access to the site will be limited to essential personnel until 30 November.
More than 58% of Kakula copper mine development is completed
Ivanhoe Mines announced Monday that it has completed more than 58 percent of the overall development of its Kakula copper mine in the Democratic Republic of Congo, with the first concentrate to be acquired in July 2021 from a concentrator with an initial annual capacity of 3.8 million tons.
According to Ivanhoe, construction of the First phase of The Kamoa-Kakula 3.8m tonne/year concentrator is progressing rapidly, with about 28 per cent completed by the end of October and mechanical completion expected by the second quarter of 2021.
Bluejay Mining and Rio Tinto advance work on Nickel project in Finland
Bluejay Mining signed a joint venture agreement with Rio Tinto on Tuesday to advance work on Finland's Enonkoski nickel project.
Under the deal, Rio will invest $20m in Enonkoski over three stages, gradually taking a 75 per cent interest in the project.
Between 1984 and 1994, the Enonkoski mine produced 6.7 million tonnes of nickel at an average grade of 0.8 per cent.
First Cobalt has struck a new Cobalt supply deal with Glencore
First Cobalt plans to change its previous agreement with Glencore and sign a long-term procurement contract.
First Cobalt said supplying Glencore with raw materials under long-term cobalt hydroxide procurement contracts would make its Ontario refinery an active market player and generate market-based returns from its operations, which would also give shareholders greater leverage in the cobalt market.
Equinox has begun full construction of the Santa Luz gold mine in Brazil
Equinox Gold, the Canadian Gold producer, will begin full construction of the Santa Luz Gold mine in Brazil's Bahia state with an approved construction budget of $103m.
Most of Santa Luz's on-site services and infrastructure are in place because of previous production.
Initial capital costs for restarting a mine include refurbishing existing infrastructure, retrofitting the plant, installing additional grinding equipment, and increasing the storage capacity of existing tailings and water storage facilities.
Santa Luz is expected to produce 903,000 ounces of gold during the first 9.5 years of production, generating $436m in net after-tax cash flow, the company said.
In addition, underground resources will bring additional profits.
Emmerson will start building a potash plant in Morocco next year
Emmerson Plc expects to begin construction of a $400 million Potash plant in Morocco by the end of 2021 and begin production by the end of 2023, Emmerson Plc CHIEF Executive Graham Clark said.
With an estimated JORC resources of 537 million tons and a K2O content of 9.24%, the project is expected to be the largest potash project in Africa and possibly one of the lowest capital cost potash projects in the world.
ABOUT PUDA
PUDA is a 28-year’s leading, growth-focused manufacturer of packing equipment and custom-engineered and integrated plant-wide system for dry bulk powders, flakes, and granules! PUDA-International Inc. is a Canadian based company located in Great Vancouver, Canada in 2004. Puda owns world famous partners like Southern Copper Corp. Rio Tinto Group, Zijin Group, LG China, OT Group, FL Smith, MCC,KAZ Minerals PLC and E.Mix and ECUACORRIENTE S.A.
Puda is totally committed to achieve customer satisfaction around the world by providing quality service to top clients from conception to installation, through to commissioning and after sales support.
Puda bagging machines range from individual equipment to automated systems that are suitable to mineral, metallurgy, agriculture, chemicals and food.
Bagging Machines
Heater sealer
Check-weigher and-rejecter
Hooking scale, platform scale
Mixers/Blenders
Dry mortar plant
Screeners
Bulk bag discharger
