Latest Mining News

Top Story

First Quantum completes enlarged refinancing

First Quantum Minerals has closed the $3.85 billion bond and bank refinancing of its corporate debt, as it nears the start of construction on the Cobre Panama copper project

Crédit Agricole to stop coal mine financing

Crédit Agricole’s outgoing chief executive officer, Jean-Paul Chifflet, said on 20 May that the bank will no longer provide financing for coal mining projects or coal mining companie

AFISCO scraps Afghan steel

The Afghan Iron and Steel Consortium (AFISCO) has scrapped a $10.8 billion steel, power and mining project in Afghanistan over technical, economic and security concerns.

Kenya picks Chinese developer for Mui coal blocks

The government of Kenya has selected China-based developer HCIG Energy Investment and local mining company Liketh Investments to mine blocks A and B of the Mui basin

Blackham Resources lines up Orion on Matilda gold

Blackham Resources has agreed a A$38.5 million ($30 million) financing and offtake package with Orion Mine Finance for its Matilda gold project in Western Australia

Norilsk Nickel turns to VTB on Chita copper

Russian metals producer Norilsk Nickel has turned to VTB Bank for bridge funding for its $1.5 billion Chita copper project in Siberia

Rio Tinto settles Oyu Tolgoi mine dispute

Rio Tinto and the Mongolian government have resolved a dispute allowing both parties to carry on the proposed development of the Oyu Tolgoi mine

EPM lines up Sevier Playa potash equity

Canadian developer EPM Mining Ventures has agreed a C$85 million ($71 million) equity investment from specialist mine finance fund EMR Capital

Boleo delays force further cash calls

Delays and technical problems at the Boleo copper-cobalt-zinc mine in Mexico will force the project company to go back to its shareholders for another $200 million in funding

Euromax mandates lenders on Ilovitza

Junior mine developer Euromax Resources has mandated three lenders to provide $240 million in debt financing for its Ilovitza copper-gold project in the Republic of Macedonia

Ma’aden signs debt with SIDF for Ad Duwayhi gold

The Saudi Arabian Mining Company (Ma’aden) has signed on a new SR1.2 billion ($320 million) debt facility with the Saudi Industrial Development Fund (SIDF) for the development of the Ad Duwayhi gold mine

Fortescue Metals refinances debt

Fortescue Metals has completed a $2.3 billion refinancing of its existing debt, taking advantage of a slight improvement in sentiment towards the iron ore industry in recent weeks

General Moly turns to AMER for Mt Hope

General Moly has signed an investment and financing agreement with Chinese metals producer AMER International for its $1.3 billion Mt Hope molybdenum project in Nevada

Kibo signs with Sepco III for Rukwa coal-fired

Kibo Mining has signed a joint development agreement with Chinese construction and engineering company Shangdong Electric Power Corporation III (Sepco III) for its Rukwa coal-fired mine-mouth power plant in Tanzania

SG banker to relocate to HK

Quentin Slight, until recently based in Paris with Credit Agricole’s power & utilities team for the EMEA region, is transferring to the bank’s Hong Kong office

JSW borrows to expand Indian steel plant

Indian firm JSW Steel drew down $250 million on March 31 from its existing $351 million credit line with Axis Bank to expand its steel plant in Maharashtra in India