Archives: Mining finance

Experts led by the University of Adelaide are looking to help the mining industry find a pathway to more efficient, green, sustainable and safer mining operations by transitioning to battery-supported electric vehicles (BEVs). In a new project funded by the Future Battery Industries Cooperative Research Centre (FBI CRC), researchers are providing the Australian mining industry[…]

Wilhelmsen and NorSea have together acquired an 18% stake in Norway-based deep-sea mining company Loke Marine Minerals. This will see the two companies invest and subscribe for, in aggregate, NOK85 million ($9.6 million) in an ongoing NOK115 million private placement of equity in Loke. Loke was established in 2019 by experienced off-shore energy leaders and[…]

Artificial intelligence-based geological data analytics company, OreFox, has successfully secured funding via the Queensland METS Collaborative Projects Fund to further its geological mapping efforts at the Mount Chalmers mine site in Queensland, Australia. The Queensland METS Collaborative Projects Fund is delivered by METS Ignited with funding support from the Queensland Government as part of its[…]

Mobile and fixed plant equipment maintenance provider Mader Group has declared a stellar set of quarterly financials that included a second consecutive quarterly revenue figure. Revenue for the three months to the end of June came in at A$86.4 million ($63.5 million), up 24% on the prior corresponding period (PCP), and up 14% on the[…]

Novamera has closed its C$5 million ($4 million) Series A financing round, providing the necessary funds to carry out the first full field trial of its Sustainable Mining by Drilling (SMD) solution for narrow-vein mining. BDC Capital’s Industrial Innovation Venture Fund was the lead investor and Chrysalix Venture Capital also participated with a follow-on investment[…]

Advanced drill core imaging technology being developed by College of the North Atlantic (CNA) and trialled at Iron Ore Company of Canada’s (IOC) site in Labrador, Canada, has received federal and provincial government backing to the tune of C$4.5 million ($3.6 million). The Government of Canada, together with the Province of Newfoundland and Labrador, believe[…]

Batt Mobile Equipment Pty Ltd, based in Tomago, New South Wales, has been given a boost in its pursuit to electrify the mining sector, having been awarded a A$4.55 million ($3.35 million) grant to build heavy-duty battery-electric vehicles for underground-hard rock mines as part of the Australian government’s Modern Manufacturing Initiative (MMI). It has become[…]

Record orders received, high revenue growth and improved profitability were all part of Epiroc’s June quarter financial results as the OEM also made significant headway on its diesel-to-battery-electric retrofit plan to help electrify the mining sector. Orders received increased 37% to a record high of SEK11.07 billion ($1.27 billion). This corresponds to 45% organic growth[…]

Newmont Corp’s Board of Directors has approved advancing the Ahafo North project, in Ghana, into the execution phase, setting the company up to develop four open-pit mines and a standalone 3.7 Mt/y plant. The project exceeds the company’s required internal rate of return, adding profitable production from the best unmined gold deposit in West Africa,[…]

Hexagon AB, a global leader in digital reality solutions, recently announced an agreement to acquire Infor’s global EAM (enterprise asset management) business, for approximately $2,750 million. The terms of the agreement include establishing a deeper commercial relationship between Hexagon and Infor as well as Hexagon and Koch Equity Development, both subsidiaries of Koch Industries, Inc.[…]