Proactive Weekly Mining highlights: Glencore, Rio Tinto, Horizonte Minerals…


Glencore PLC (LSE:GLEN) (LSE:GLEN) investors are set for a bumper dividend payout due to the surge in coal prices, according to the latest research from analysts at Deutsche Bank. Thermal coal prices are at record levels said the broker and that points to a US$15bn cash return from the mining giant on the horizon.

Rio Tinto PLC (LSE:RIO) (LSE:RIO) has published its first report on progress in improving Communities and Social Performance (CSP) practices, following the destruction of the Juukan Gorge rock shelters in Western Australia. The rock shelters, which were destroyed during mining operations last year, showed human habitation dating back 46,000 years.

Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF, FRA:H5W) has taken a big step towards starting construction of its Araguaia nickel mine in Brazil after a syndicate of five institutions gave final credit approvals. A senior debt finance facility of US$346mln was arranged through the five lenders plus two export credit agencies (ECAs).

Anglo Asian Mining has agreed terms with the Azerbaijan government over three huge new copper licences in the country. The new licences, with a combined area of 882 square kilometres, will be immediately effective following ratification by the Parliament of the Republic of Azerbaijan.

Bradda Head Lithium Ltd (AIM:BHL) (AIM:BHL) has returned assay results with intercepts of over 2,000 parts per million lithium from its third twinned hole at its Burro Creek East project.

AfriTin Mining Ltd (AIM:ATM, FRA:9IA) (AIM:ATM, FRA:9IA) reported revenues of GBP5.1mln in the six months to August 2021, an increase of 468% over the corresponding six-month period a year earlier.

Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2) has set a new target to discover 15-20 million indicated ounces of gold from its projects in West Africa over the next five years.

Power Metal Resources said two licence applications have now been granted at Wallal in the Paterson region of Western Australia – E45/5816 – Wallal Main and E45/5880 – Wallal West 2.

Panthera Resources PLC (LSE:PAT) (LSE:PAT) said final assay results from shallow aircore (AC) drilling at the Bassala gold project in Mali were the best so far.

Base Resources Ltd has agreed an extension to its Kwale mining lease in Kenya and new terms for royalty payments to the Kenyan government.

Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, FRA:ZMK, OTC:MKNGF) said its rare earth magnet recycling pilot led by associate HyProMag and the University of Birmingham (UOB) had been successfully completed.

Ariana Resources PLC (AIM:AAU, FRA:4A6) (AIM:AAU, FRA:4A6) said the first investment of its Asgard Metals Fund will be an interest in Panther Australia, which is soon to list on the ASX.

Tharisa PLC pledged to reduce carbon emissions 30% by 2030 and said it intends to be carbon net neutral by 2050.


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