Glencore purchased Mutanga and Katanga for US$534 million in cash and debt

MINEX FORUM | February 14, 2017
img0 Glencore purchased from subsidiaries of Fleurette Properties Limited (“Fleurette”) the Fleurette group’s remaining 31% stake in Mutanda Mining Sarl (the “Mutanda Shares”) and an approximate 10.25% stake in Katanga Mining Limited (the “Katanga Shares”), Glencore reported. The consideration for the Mutanda Shares and the Katanga Shares has been determined based on an analysis by BMO ...

The top 10 trends mining companies will face in the coming year – Deloitte

MINEX FORUM | February 8, 2017
img0 As a result of different dynamics in global supply and demand, mining has evolved from a single industry to a collection of industries. Major producers are planning for a different future than the one that appears on the horizon for most junior explorers, Deloitte notes in its last analysis of the mining sector. These divergent views ...

Stans Energy to try win back compensations from Kyrgyzstan in UN Permanent Court of Arbitration

MINEX FORUM | January 30, 2017
img0 Canadian-based rare earths and lithium junior Stans Energy (TSX-V:HRE), said the UN Permanent Court of Arbitration won’t dismiss its claim for compensation from the Kyrgyz Republic for revoking its mining licences in 2014, mining.com said. The decision means the $210 million arbitration against the Kyrgyz Republic will advance to the merits stage, the company said. “We ...

Uzbekistan’s reforms to tackle previously existing challenges in the mining sector

Artpol6 | January 26, 2017
img0 After 25 years of authoritarian rule, elected on 6 December 2017 the new President of Uzbekistan is launching reforms to address pressing economic and social issues. The creation of free conversation of the national currency is the cornerstone of the reform. President’s Mirziyoyev’s aspirations to open up the country to the international markets has caught ...

Uranium mining legacy fund, Precondition for EBRD project implementation in Kyrgyzstan and Tajikistan

MINEX FORUM | January 26, 2017
img0 Image: ekathimerini.com The EBRD’s latest nuclear safety fund is making progress. Framework agreements have been signed with the Kyrgyz Republic and Tajikistan which will provide the legal basis for implementation of projects in these countries. The purpose of the “Environmental Remediation Account for Central Asia” is to support measures to deal with the legacy of Soviet-era uranium ...

SouthGobi Resources got a clime from its fuel supplier of US$ 8.9 million

MINEX FORUM | January 20, 2017
img0 Image: South Gobi Resources SouthGobi Resources Ltd. (SGQ.TO)(1878.HK) reported that SouthGobi Sands LLC (“SGS”), a subsidiary of the Company, has received a lawsuit notice from the Khan-Uul District Civil Court of First Instance in Mongolia (the “Court”) in relation to a claim from Magnai Trade LLC (“MT”), a fuel supplier of SGS, of MNT 22.2 billion ...