Archives: Mining finance

Kumba Iron Ore, energised by a record annual EBITDA of R45.8 billion ($3.12 billion) for its 2020 financial year, has made plans to extend the life of its Sishen iron ore mine in South Africa out to 2039. The R3.6 billion ultra-high dense media separation (UHDMS) project was approved by the Kumba board late last[…]

Perenti Group has targeted the North America market for further contract mining growth, establishing a US office in the first half of its 2021 financial year. The office, thought to be in Denver, Colorado, will help the company make the most of the substantial pipeline it has identified in North America. The news came during[…]

Exploration companies planning to cash in on the rush of capital into the mining sector risk losing out if they fail to take advantage of the latest tools to deliver real-time results from drilling programs, according to IMDEX. Exploration activity is on the up ‒ spurred on by strong commodity prices supported by government stimulus,[…]

IMDEX has heralded what it says is long-term structural change in the mining industry, as it reported a strong start to the first half of its financial year. Delivering the company’s half-year results, IMDEX Chief Executive Officer, Paul House, revealed a robust balance sheet with a net cash position of A$47 million ($36 million) in[…]

Epiroc continued to register strong demand for its equipment in the December quarter, with the mining OEM’s order intake increasing both in the underground and surface mining segments, the company reported today. Headline numbers from the December quarter included a 1% year-on-year increase in orders received to SEK9.3 billion ($1.1 billion), a 5% drop in[…]

K2fly Ltd has announced that Alcoa USA Corp has signed a five-year SaaS contract, for its RCubed Resource Inventory solution, to roll out to six sites globally. Alcoa is one of the world’s largest bauxite miners with high quality reserves, including mines in Australia, Brazil, Guinea and Saudi Arabia. Alcoa owns and operate two mines[…]

Sandvik AB has announced its Q4 2020 results with positive results for Sandvik Mining & Rock Technology. Stefan Widing, President and CEO said: “A record order intake was noted for Sandvik Mining and Rock Technology, increasing by 15% year on year, with a continued strong momentum in equipment and improved performance in the aftermarket business.[…]

FLSmidth today announces that it is in negotiations with thyssenkrupp concerning an acquisition of thyssenkrupp’s mining business – this would be the biggest deal in mining technology since Metso merged with Outotec. The negotiations, however, are at a non-binding stage. The statement said: “Accordingly, there can be no assurances as to whether and when a[…]

The Tasmania Government says it is expanding its geotechnical testing capabilities, with a A$2.4 million ($1.9 million) upgrade to its Mineral Resources Tasmania Core Library at Mornington. The upgrade, expected to be completed by the middle of the year, will help the Australian island state both retain and grow its natural resources work, Guy Barnett,[…]

Boston Metal has raised $50 million in Series B funding to further accelerate industrial-scale deployments of its molten oxide electrolysis (MOE) technology towards emissions-free steel. The financing was led by Piva Capital, BHP Ventures, and Devonshire Investors. Boston Metal’s MOE technology uses electricity to transform metals from a raw oxide form into high-purity molten metal[…]