A significant decline in new gold discoveries is raising concerns about future supply growth, with fewer deposits being found and exploration budgets shrinking.
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Epiroc’s New Concept Mining launched a Hydraulic Rock Drill production facility in Johannesburg, aiming to localize manufacturing, improve efficiency, and enhance mining safety.
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Alcoa plans to sell its 25.1 percent stake in the Ma’aden joint venture to Saudi Arabia’s Ma’aden for $1.1 billion, simplifying its portfolio and enhancing financial flexibility.
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Ivanhoe Mines has signed an MOU with Zambia to explore copper, aiming to replicate the success of its Congo project
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Barrick Gold’s expansion of the Lumwana mine in Zambia is on track, with its feasibility study expected to conclude by the end of this year.
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Sibanye Stillwater is cutting palladium and platinum production by 200,000 oz/y and downsizing its workforce to manage costs amid declining platinum group metal prices.
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Lundin Mining Corporation plans to sell its European copper and zinc mines within a year as it shifts focus to Latin American projects
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CommoditiesExploration & DevelopmentNews
AngloGold Ashanti Acquires Centamin in $2.5 Billion Gold Deal
AngloGold Ashanti acquires Centamin for $2.5 billion, boosting gold production with Egypt’s Sukari mine added to its portfolio.
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Barrick Gold plans to expand Zambia’s Lumwana mine, doubling production capacity and transforming it into a top global copper mine
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South Africa’s mining output fell by 14% in July 2024, driven by declines in diamonds, platinum, and iron ore, as the sector faces energy and regulatory challenges.