Archives: Mining finance

Turquoise Hill Resources and Rio Tinto have entered into a binding Heads of Agreement (HoA) to provide an updated funding plan for the completion of the Oyu Tolgoi underground copper-gold project in Mongolia. The funding plan is designed to address the estimated remaining funding requirement of around $2.3 billion and replaces the non-binding Memorandum of[…]

Canada-based E3 Metals says it has received a government grant totalling C$1.8 million ($1.4 million) from Alberta Innovates that will assist it in funding a pilot plant to test out its proprietary Direct Lithium Extraction (DLE) technology. DLE technology, the company says, seamlessly connects conventional oil field and lithium processing, with the potential to unlock[…]

Kore Potash and Summit Africa Ltd, on behalf of a consortium of investors and engineering firms, have signed a non-binding memorandum of understanding (MoU) to arrange the total financing required for the construction of the Kola potash project in the Republic of Congo. The MoU with Summit outlines a roadmap to optimise, fully finance and[…]

Auric Network Ltd, the Hong Kong based blockchain innovation group, has announced the commencement of on site safety works ahead of gold mine construction in Geochang (Kochang) county, Korea, in partnership with Bluebird Merchant Ventures Ltd (BMV), the Korea-focused gold development group, and Mine Foundation, a commodities investment platform focused on financial inclusion. This news[…]

Master Drilling Group continued to add to its client and service base over the course of 2020, with bright spots reported in exploration drilling and the West Africa gold sector. Its 2020 financials were hit by COVID-19, with revenue dropping 17% year-on-year to $123.1 million and operating profit declining to $12.3 million, from $24.1 million[…]

Suncor has backed the decarbonisation and hydrogen production ambitions of carbon capture technology company Svante, joining a number of firms in its latest equity raising. Svante is looking to accelerate the commercialisation of its novel second generation CO2 capture technology, aiming to decarbonise industrial emissions and hydrogen production in North America. Its technology, Svante claims,[…]

The Realtime Group Ltd says it has completed the sale of a majority stake in the company to global METS sector investor RCF Jolimont Mining Innovation Fund II LP. Realtime is focused on developing on-line analysers for the mining, power generation and manufacturing industries, with customers in 46 countries relying on its solutions to accurately[…]

DDH1 Ltd has officially commenced trading on the Australian Securities Exchange following an initial public offering last week that saw the drilling contractor secure gross proceeds of A$150 million ($115 million) through the issue of around 40% of its shares. The IPO proceeds were used to allow existing shareholders to realise part of their investment[…]

Vimson Group and Newlab’s Prospect Mining Studio announced today a half million dollar investment in its cohort member company CyanoGuard, the Switzerland-based chemtech startup shaping the future of cyanide detection for the gold mining industry. The investment caps the company’s extended seed round – with the first closing  in April 2020 – at more than[…]

Polymetal recorded a strong set of financials in 2020, with its revenue, adjusted EBITDA and net earnings metrics all benefitting from higher production volumes and commodity prices. Revenue increased by 28% year-on-year to $2.87 billion, adjusted EBITDA rose 57% to $1.69 billion and net earnings hit a record $1.09 billion in 2020. The company’s 2020[…]