Receiver named for assets of Trevali’s Caribou zinc mine in New Brunswick

Mining News Pro - Last summer, Trevali Mining applied for relief under the Companies’ Creditors Arrangement Act (CCAA) and was granted the initial order in August. The next month it delisted its shares from the Toronto Stock Exchange. And this week, a receiver was appointed for the company’s assets at its Caribou lead-zinc-silver mine in New Brunswick.

Court told Anglo turned blind eye to Zambian lead poisoning

South Africa’s High Court was told that Anglo American Plc turned a “blind eye” to lead poisoning in the Zambian town of Kabwe, where it held a stake in a mine for almost 50 years.

LME ends chaotic year with metal stockpiles perilously low

Mining News Pro - The London Metal Exchange will enter 2023 with the smallest available warehouse stockpiles in at least 25 years, setting the stage for future squeezes and spikes if demand turns out stronger than expected.

Sherritt to recoup $260 million of outstanding debt from Cuban partners

Mining News Pro - Sherritt International has entered agreements with its Cuban partners to settle C$362 million ($260 million) of total outstanding receivables over five years, beginning January 1, 2023. The agreements, known as the “cobalt swap”, would allow the Moa joint venture in Cuba to prioritize dividend payments in the form of finished cobalt to each partner, and each partner’s share of these cobalt dividends will be redirected to Sherritt as debt repayment.

NorZinc agrees on sale to shareholder RCF

Mining News Pro - In a move to ensure the long-term viability of its Prairie Creek project located in the Northwest Territories, NorZinc (TSX: NZC) has agreed to a sale to RCF VI CAD LLC following a unanimous decision by the board of directors, which has been working to address the company’s financial challenges, namely limited cash and negative working capital, to fund the project’s development.

Sierra Metals halts 2022 production and finance guidance on Peru mine blockade

Mining News Pro - Sierra Metals Inc. said a group of residents from the Peruvian town of Alis are blocking the access to its flagship Yauricocha copper mine, where production has been suspended for over a week.

Electra Battery’s nickel refinery plans starting to take shape

Mining News Pro - Canadian firm Electra Battery Materials has announced the highlights of a scoping study for an integrated nickel refinery, as part of its vision of creating an electric vehicle (EV) battery materials park in Ontario.

Metal plants feeding Europe’s factories face an existential crisis

Mining News Pro - In the aluminum industry, closing a smelter is an agonizing decision. Once power is cut and the production “pots” settle back to room temperature, it can take many months and tens of millions of dollars to bring them back online.

Metals rout deepens as China lockdowns add to growth fears

Mining News Pro - Base metals slumped, with copper falling further after capping its fifth consecutive monthly loss — the longest downward streak since the 2008 financial crisis — after China’s lockdown of megacity Chengdu added to demand woes.

Global cobalt markets to be in surplus in 2022

Mining News Pro - The global markets of nickel, lithium and cobalt – three of the key metals used in electric vehicle batteries – are expected to be in surplus in 2022, an analyst with Chinese state-backed research house Antaike said.

Boliden declares force majeure on zinc amid Norway strike

Mining News Pro - Swedish miner Boliden has declared force majeure on zinc deliveries to Europe due to a strike among Norwegian electrochemical industry workers, although some production is still running, a company spokesperson said on Tuesday.

Trevali halts trading as Burkina Faso managers face trial following fatal mine flooding

Mining News Pro - Canada-based Trevali Mining halted trading on Monday and said two of its managers were being held in Burkina Faso following an April flood that killed eight miners.

Congo PM to mediate dispute over Tenke copper and cobalt mine

Mining News Pro - Democratic Republic of Congo’s prime minister expects to host talks between China’s CMOC and state miner Gecamines in the coming days over a dispute at their Tenke Fungurume copper and cobalt project, his office said on Wednesday.

Nyrstar’s shut Dutch smelter invigorates zinc bulls

Mining News Pro - Expectations of deeper production cuts in Europe, shortages and dwindling stocks after high energy costs forced Nyrstar to shut its zinc smelter in the Netherlands have bolstered zinc’s price prospects.

Lundin weighs sale of $1 billion copper-zinc mine in Portugal

Mining News Pro - Lundin Mining Corp. is weighing the sale of a copper and zinc mine in Portugal that could be valued at about 1 billion euros ($1 billion), people familiar with the matter said.

The EV race is turning a gold rush haven into a battery hub

Mining News Pro - Gold has long dominated the Western Australian city of Kalgoorlie, born in a late 19th Century prospecting rush and home to one of the world’s largest open pit mines, nestled right next to residential streets. Blasts to dislodge precious-metal laced rock from the more than two-mile-long Super Pit still frequently rattle the main street.

Top Ten Zinc Projects in the World Right Now

Mining News Pro - The Selwyn zinc project in Canada’s Yukon Territory, owned by China’s Yunnan Chihong Zinc and Germanium leads by a longshot, with 19.2 million tonnes (Mt) in resources and reserves.

Zinc price highest since March as energy crunch threatens smelters

Mining News Pro - The zinc price rose the most in almost five months on Thursday after Glencore warned that Europe’s energy crisis poses a substantial threat to supply.

Tesla inks battery materials deals with two China suppliers

Mining News Pro - Tesla Inc. has signed new long-term deals with two of its existing Chinese battery-materials suppliers, the latest move by automakers to secure supplies amid intensifying competition.

Bolivian authorities investigate tailings pond collapse near Potosí

Mining News Pro - Bolivian authorities are investigating the causes behind the collapse of a tailings facility near the southern town of Potosí, an accident that took place a week ago and that caused a mix of mud and mine residue to reach at least four rivers that drain into the Pilcomayo River.

Rare earths-free thermoelectric converters now viable – research

Mining News Pro - Researchers at Japan’s Hokkaido University have synthesized a barium-cobalt oxide thermoelectric converter aimed at transforming waste heat into energy without having to use rare earths.

How the Idaho cobalt belt could be North America’s secret to growing EV production

Mining News Pro - As geopolitical worries and supply chain issues continue to affect all industries, North America is quickly turning to alternative sources of battery materials as the west looks to shore up its own supply chains, create jobs, and strengthen domestic energy production.

CMOC’s Congo mine suspends copper and cobalt exports

Mining News Pro - CMOC’s Tenke Fungurume copper and cobalt mine has suspended all exports, logistics companies were told in a notice seen by Reuters late on Saturday, complying with demands by a court-appointed administrator.

Osisko Metals updates Pine Point PEA

Mining News Pro - Osisko Metals has released an updated preliminary economic assessment (PEA) for its wholly owned Pine Point base metals project located near the town of Hay River, Northwest Territories. The study was prepared in collaboration with independent engineering firms BBA, WSP Canada and Hydro-Resources.

Cost reductions for renewables may stall in Australia

Mining News Pro - Cost reductions for renewable energy are likely to be put on hold for the next year in Australia due to inflation and supply chain disruptions, a recent report by the Commonwealth Scientific and Industrial Research Organisation (CSIRO) shows.

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