Around the mining sector in seven stories COPPER LODE

THE DEMAND FOR copper has increased to meet the green targets set out by the Paris Agreement as the metal plays a crucial role in achieving net zero.

The mining industry needs to deliver copper supplies with frequency and consistency to successfully reach carbon zero over the next 30 years. This would require an investment of USD$23 billion per year.

The necessity for copper will continue to grow as the metal is a vital component in green technologies, from renewable energy infrastructure to electric vehicles (EVs). It is expected that demand will increase by three percent each year for the next decade.

Going For Gold

CORA GOLD, THE West Africafocused gold explorer, is accelerating the development of its flagship Sanankoro Gold Project in southern Mali. It plans to raise at least USD$19.6 million through equitable fundraising and convertible loan notes. The company has already received binding commitments of USD$20 million.

Silver Lining

HECLA MINING (HECLA) has reported the highest silver reserves in its 130-year history. The increase was due to discoveries at Greens Creek in Alaska and the addition of Keno Hill in Yukon.

The acquisition of Keno Hill added nearly 50 million silver ounces to Hecla’s reserve base, where two surface core drills confirmed highgrade silver mineralisation in three areas.

As silver is important in the energy transition to renewables, Hecla is in a good position with the largest silver reserve in the US, and the highest grade and largest primary silver reserve in Canada.

The shareholders continue to support the project’s development, with the largest shareholder being gold producer, Hummingbird Resources.

Cora Gold has project areas within two known gold belts in Mali and Senegal, with the former being one of Africa’s biggest gold producers, hosting companies such as Barrick Gold and B2Gold.

Epiroc Moves Epic Rocks

MINING EQUIPMENT AND services provider, Epiroc, will continue to support Roy Hill – an iron ore project in the Pilbara region of Western Australia (WA) – as it enters the final stage of its autonomous haulage system (AHS). The announcement from Epiroc, who is

Gold Digger

SRG GLOBAL HAS secured two contracts, including a significant five-year contract, with Northern Star Resources Limited (Northern Star) at its Bronzewing Gold Mine in WA. The contracts have been valued at AUD$220 million.

The second contract, a two-year partnering with automation specialist ASI Mining on the project, comes after a successful two-year testing phase.

The smart mine is expanding its AHS by converting its mixed fleet of conventional haul trucks to driverless operation from March. In addition, 233 modified ancillary vehicles will interact with the autonomous haul trucks to create the world’s single largest autonomous mine.

Idemitsu Invests

AS IT CONTINUES to diversify its global portfolio of energy assets, Idemitsu Australia has made a strategic investment in leading Australia-based lithium exploration company Red Dirt Metals.

The initial investment of AUD$5 million will give Idemitsu Australia approximately 2.3 percent of issued shares. The move is in line with plans to invest in high-growth markets such as lithium.

The proceeds from the capital raised by Red Dirt Metals will be used to progress drilling, mining studies, environmental approvals, and working capital for both the Mount Ida and Yinnetharra lithium projects.

extension of the initial agreement, is at Northern Star’s Thunderbox Operation, and Carosue Dam gold mines in WA.

The scope of services at all locations includes the provision of specialist drill and blast services, explosive management, and grade control drilling. Work at the Bronzewing has already commenced.

Eagle To Start

AFTER RECEIVING STRONG support from new and existing investors, underground drilling has commenced at Eagle Mountain Mining’s Oracle Ridge project in Arizona, with the aim of increasing copper resources. The company is delving back into the bountiful mine, where there has been no significant drilling in 25 years.

Underground drilling is expected to be more efficient than drilling from the surface. With refurbishment work on the mine recently completed, activities are being ramped up. The company will prioritise drilling aimed at upgrading existing Inferred and Indicated Resources into higher confidence Indicated and Measured Resources, respectively.