Oyu Tolgoi underground mine gets $75M jumpstart

Turquoise Hill confirms that the Oyu Tolgoi LLC board of directors has approved a bridging budget of $75 million to continue critical activities at the Oyu Tolgoi underground mine development project in southern Mongolia. The approval reflects the progress made during recent negotiations between Turquoise Hill, the Mongolian government and Rio Tinto about the expansion of the Oyu Tolgoi copper-gold…

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Sibanye-Stillwater acquires nickel, copper assets in Brazil

South African miner Sibanye-Stillwater has purchased the Santa Rita and Serrote mines in Brazil from Appian Capital Advisory for US$1.0 billion. The deal adds two low-cost, producing assets to the company’s green metals portfolio. “The transaction is a significant additional step in Sibanye-Stillwater’s ongoing strategy to position the business for continued value creation during our transition into a climate change…

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Brazil’s next underground mine advances

Nexa Resources said Oct. 13 that it has received the operating licence for its Aripuanã polymetallic project in Mato Grosso, Brazil. The project, which will be the company’s sixth underground mine, was given its license from the Environmental Secretariat of the state of Mato Grosso (SEMA) on Oct. 7. Aripuanã’s resource includes zinc, lead and copper. The site will also…

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