Under the deal, Tesla would buy about half of Tamarack Mine’s projected production.
Talon Metals, the company behind a proposed Minnesota nickel mine, said Monday it has made a major supply deal with Tesla.
The electric vehicle giant has committed to buy 75,000 metric tons of nickel concentrate over six years from Talon’s planned mine in Tamarack, about 50 miles west of Duluth. Tesla would also have rights to go above that amount.
Does the energy transition need a “Circular 5”? Back in the late 1940s the US Atomic Energy Commission fretted that it could not procure enough uranium on the private market to meet the requirements of its nuclear weapons production programmes.
The initial supply of Congolese uranium for the wartime Manhattan project had been scavenged in late 1942 from a warehouse in Staten Island, NY, where it had been sent in 1940 by an anti-Nazi Belgian businessman.
Cheered by legions of young Chilean supporters waving flags and banners, Gabriel Boric vaulted over a metal barricade and leapt on to a stage to address his victory rally on Sunday night.
“I receive this mandate with humility”, the leftist former student politician said solemnly. “I know that the future of our country is at stake.” Aged just 35, he will be the youngest elected leader in Chile’s history after a barnstorming election win against right-wing rival José Antonio Kast.
The mining industry brushed aside risks posed by left-leaning politician Gabriel Boric’s resounding victory in Chile’s runoff presidential election Dec. 19, despite the president-elect’s campaign promises to rein in the sector and raise fees.
After winning roughly 56% of the vote in the second round of elections, 35-year-old Boric underscored his opposition to Minera Andes Iron’s Dominga iron-copper-gold project, and on the campaign trail, Boric promised to create a state-run lithium company and supported mining tax hikes and royalties. Boric is looking to squeeze miners to bring in cash for public services while protecting the environment.
https://www.theglobeandmail.com/
Wyloo Metals Pty Ltd., the winner of a fierce bidding war for Noront Resources Ltd., hopes to have a large nickel mine in operation in the Ring of Fire, and an access road built into the remote minerals district in northern Ontario, within five years.
Earlier this week, BHP Group Ltd. said it was not willing to improve upon Wyloo’s offer of $617-million ($1.10 a share) for Noront, ending a seven-month battle. Wyloo, a private equity firm based in Perth, Australia, that specializes in investing in large resource projects, is backed by billionaire Andrew Forrest, founder of iron ore giant Fortescue Metals Group.
(Bloomberg) — Environmental activists like Constanza San Juan have been peripheral figures at best in Chile’s emergence as the dominant supplier of copper over the past few decades. Now, she and others like her are rewriting the rules, with tens of billions of dollars in investments riding on the outcome.
The 35 year old, who’s been fighting mining ever since Barrick Gold Corp. arrived to her region two decades ago, is on a committee that will decide how the environment and natural resources will figure in a new constitution to replace the one that dates back to the dictatorship of Augusto Pinochet.
https://www.bnamericas.com/en/
Social unrest in Peru this year led to lower production of about 150,000t of copper, according to estimates by mining-energy association SNMPE.
In a conference organized by the Peruvian Institute of Mining Engineers, association head Raúl Jacob said that if 100,000t are not produced, the State loses 1.45bn soles (US$363mn) in taxes.
https://www.canadianminingjournal.com/
Hudbay Minerals (TSX: HBM; NYSE: HBM) has released the initial resource estimate for its Copper World deposit with 272 million indicated tonnes and 142 million inferred tonnes, both grading 0.36% copper. The deposit is located near the company’s 100%-owned Rosemont copper project 50 km southeast of Tucson, Ariz.
The Copper World mineralization is close to the surface and can be mined with conventional open pit methods. There are seven deposits extending over a 7-km strike length, including Bolsa, Broad Top Butte, Copper World, Peach, Elgin, South Limb, and North Limb. The deposits lie northwest of the Rosemont deposit and lie mainly on land that Hudbay owns.
(Bloomberg) — A once-sleepy copper fund is defying the stock market’s miserable month as investors bet the base metal will be a big winner amid the shift to renewables and a potential boom in electric vehicles.
The Global X Copper Miners ETF (ticker COPX) saw a record $196.1 million inflow during Tuesday’s broader selloff on inflation concerns, increasing the fund’s assets 13% to an all-time high of $1.68 billion.
Rio Tinto Group will cancel US$2.3 billion in debt owed by Mongolia as the miner seeks to push forward with expanding the giant Oyu Tolgoi copper project that’s been beset by years of disputes, delays and cost blowouts.
Rio’s Chief Executive Officer Jakob Stausholm proposed improved terms for a 2015 financing agreement that underpins the mine’s underground expansion, according to a Dec. 13 letter to Prime Minister Oyun-Erdene Luvsannamsrai posted on Mongolia’s government website.
Andrew Forrest’s private resources company Wyloo Metals has launched a third bid for Canadian nickel hopeful Noront Resources, after talks between Wyloo and rival bidder BHP failed to reach a compromise.
Wyloo has lifted its bid to $C1.10 a share, 47 per cent above the C75¢ bid BHP made in October. alks between BHP and Wyloo, which has a 37.2 per cent stake in Noront, had been running for about a month. Head of Wyloo Metals, Luca Giacovazzi, described the discussions as constructive but ultimately unsuccessful.
PERTH, Australia, Dec. 12, 2021 (GLOBE NEWSWIRE) — Wyloo Metals Pty Ltd (“Wyloo Metals”) has today provided the board of Noront Resources Ltd. (TSXV: NOT) (“Noront”) with a letter outlining a further improved offer to acquire up to 100% of the shares in Noront that it does not already own for Cdn$1.10 per share (the “Revised Wyloo Offer”). This is 47% above the Cdn$0.75 per share offered under the take-over bid for Noront proposed by BHP Western Mining Resources International Pty Ltd (“BHP”).
The Revised Wyloo Offer is the only proposal to Noront shareholders that provides the following distinguishing features:
Canada’s Capstone Mining (TSX: CS) and Chile-focused Mantos Copper, run by British investment firm Audley Capital Advisors and Orion Mine Finance, are merging to form a new, Americas-focused copper producer called Capstone Copper.
The new miner, which will trade on the Toronto Stock Exchange, will have a combined 2021 copper production base of more than 175,000 tonnes of the metal and joint reserves of 4.9 million tonnes, the companies said.
https://www.canadianminingjournal.com/
The Newfoundland and Labrador Branch of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) has awarded Vale (NYSE: VALE) its Miner of the Year designation for Vale’s Voisey’s Bay nickel operation 30 km southwest of Nain, Labrador. The award was announced at the annual Mineral Resources Review on Nov. 25.
The Voisey’s Bay team has been working on the simultaneous development of two underground mines – Reid Brook and Eastern Deeps – while it continues to mine the Ovoid deposit with open pit methods.
https://www.cbc.ca/news/canada/north/
Two mining projects in the Northwest Territories looking to cash in on the growing demand for batteries that are key in the battle against climate change are inching forward.
Robin Goad, the president and CEO of Fortune Minerals, the company that owns the NICO project, a cobalt, bismuth, gold and copper deposit about 50 kilometres northeast of Whatì, provided an update on the project during a virtual appearance at a geoscience conference held in Yellowknife Thursday.
