Weekly Nugget
Halfway Mark Of 2023!
Join us on LinkedIn for the Monthly Mining Roundup, where we'll cover news, events, and more from the mining industry for June!
We're welcoming summer with exciting news from around the mining industry and the latest project reports!
🗨 Summer Mining Kickoff!
Welcome to the latest Weekly Nugget! As the temperature rises and summer kicks into high gear, we are thrilled to bring you the latest updates on the trends that have been shaping the mining industry throughout the year. It seems like the heat is not only impacting the weather but also fueling the momentum in mergers and acquisitions (M&A) as companies seek strategic partnerships to navigate the evolving landscape. The spotlight continues to shine on lithium as it basks in its well-deserved moment in the sun. Meanwhile, metals prices are doing what they do best—fluctuating and keeping us on our toes. At Prospector, our team is tirelessly sifting through the vast expanse of mining data, unearthing valuable insights and data treasure. So, get ready to explore the sandcastles we've built and stay updated on the exciting developments in the industry. Happy First Day of Summer, and enjoy this week's Nugget!
Jess Scanlan
Head of New Media
🔥 What's New
June Monthly Mining Roundup In 1 Week!
It’s almost time for our latest Monthly Mining Roundup! Our team is excited to have you join us for this LinkedIn Live to help ring in the summer! Be sure to click “Join” on LinkedIn so you don’t miss it! RSVP here.
Save Time And Get Deeper Insights For Your Quarterly Reporting
The end of June brings the end of Q2 and the first half of the year! The Prospector team is here to help with your reports, presentations, and more with our Custom Data Queries! Give yourself a break (and save time to enjoy the beginning of summer!) and let us get you the data you need!
📰 In The News
MSHA Impact Inspections Target 20 Mines In 15 States
The U.S. Department of Labor's Mine Safety and Health Administration (MSHA) conducted impact inspections at 20 mines in 15 states in April 2023, discovering 335 violations. These inspections target mines with poor compliance history and previous accidents. Since January 2023, MSHA has identified a total of 914 violations, including 257 significant and substantial violations and 18 unwarrantable failure findings. The inspections serve to protect miners from safety hazards and ensure mine operators take prompt action to prevent accidents and repeat violations.
First Quantum Rebuffs Informal Approach From Barrick Gold
First Quantum Minerals Ltd. has rejected an informal takeover offer from Barrick Gold Corp., the world's second-largest gold producer, as Barrick seeks to expand its presence in the copper market. Barrick approached First Quantum in recent months with interest in combining the companies, but First Quantum showed no enthusiasm for the idea and declined to engage in substantive discussions. While Barrick and First Quantum are not currently in formal talks, it remains uncertain whether Barrick will revive its interest. The potential deal reflects the ongoing trend of major miners pursuing acquisitions in the copper sector as they seek to increase production of the essential metal.
Lithium Americas Produces First Carbonate At Cauchari-Olaroz
Lithium Americas has achieved its first production of lithium carbonate at the Caucharí-Olaroz project in Argentina's Jujuy province. While the material is not yet battery-quality, the company plans to install additional purification processing equipment in the second half of the year to achieve battery-grade lithium carbonate. The project aims to reach a production capacity of 40,000 tonnes of battery-grade lithium carbonate equivalent (LCE) and intends to increase capacity by an additional 20,000 tonnes by the end of 2025.
U.S. DoD Signs Deal To Boost Cobalt Supply Chains
The U.S. Department of Defense (DoD) has signed a $15 million agreement with Jervois Mining USA, the American unit of Australian miner Jervois Global Ltd, to conduct feasibility studies on expanding cobalt extraction in Idaho. The aim is to reduce dependence on overseas sources of the mineral. The agreement allows Jervois to conduct mineral resource drilling to expand cobalt resources at its Idaho Cobalt Operations and assess the feasibility of establishing a domestic cobalt refinery in the United States. The DoD uses cobalt in high-capacity batteries for military and commercial electric vehicles.
Fireweed Names Mactung Largest High-Grade Tungsten Deposit In The World
Fireweed Metals has released a new resource estimate for its Mactung tungsten project in Canada's Yukon and Northwest Territories, confirming it as one of the world's largest deposits of the critical mineral. The indicated resources at the project amount to 41.5 million tonnes grading 0.73% tungsten trioxide (WO3), while the inferred resources total 12.2 million tonnes at 0.59% WO3. The deposit also contains copper and gold byproducts. Fireweed Metals' CEO described the resource as "impressive" and "world-class," highlighting its strategic significance as a critical minerals project that can potentially supply a significant portion of North America's expected demand for decades.
Researchers Describe The Melting Of Gold Nanoparticles In Gold-Bearing Fluids In The Earth's Crust
A new study published in Scientific Reports by experts from the University of Barcelona, the Andalusian Institute of Earth Sciences, and the University of Granada challenges traditional models of gold transport in nature. The study reveals that gold nanoparticles exposed to hydrothermal fluids can melt and produce gold nanomelts at temperatures lower than the melting point of macroscopic gold. This discovery suggests that gold can be remobilized and transported more efficiently to form economically valuable deposits. The research provides insights into the formation of gold deposits and offers a more realistic understanding of the origin of gold, potentially aiding in the establishment of more accurate genetic models for gold mining exploration.
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