SYDNEY, AUSTRALIA: Matador Mining Limited (ASX:MZZ | OTCQB:MZZMF) has launched its 2024 exploration field season with a reverse circulation (RC) drilling program at the O-2 target at Malachite in Newfoundland, Canada. The company hopes to make major discoveries of gold under the glacial till and overburden covering the area. The O-2 target is located at…
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ArcelorMittal reports strong results for 2023 despite challenges
AMSTERDAM: ArcelorMittal, the world’s leading integrated steel and mining company, today announced its financial and operational results for the year 2023, highlighting its resilience and performance amid a challenging market environment. The Company posted an EBITDA of $7.6 billion and a net income of $0.9 billion for the year, reflecting structural improvements to profitability and…
Red 5 Limited and Silver Lake Resources merge to create a leading gold producer
SYDNEY, AUSTRALIA: Red 5 Limited and Silver Lake Resources Limited have announced a merger deal that will create a diversified and profitable gold producer with operations in Australia and Canada. The merger will be implemented through a scheme of arrangement, under which Red 5 will acquire all the shares in Silver Lake. Silver Lake shareholders…
Celsius Network emerges from bankruptcy, creates new Bitcoin mining company
Celsius Network, a cryptocurrency lending platform, has successfully emerged from bankruptcy after completing its plan of reorganization. The plan, which was approved by 98% of its account holders and the Bankruptcy Court, involved distributing over $3 billion of cryptocurrency and fiat to its creditors and creating a new Bitcoin mining company called Ionic Digital. Ionic…
Mining: The process of verifying transactions and adding them to the blockchain
Mining is the process of verifying cryptocurrency transactions and adding them to the blockchain. Miners use their computers to solve complex mathematical problems, and the first miner to solve the problem gets to add the block of transactions to the blockchain and earn a reward. This process helps to secure the blockchain and make it…
Simon Lawson appointed Managing Director of Gascoyne Resources
SYDNEY, AUSTRALIA: Gascoyne Resources Limited (ASX: GCY) announced that Mr Simon Lawson has been appointed as Managing Director and Chief Executive Officer following the departure of Mr Richard Hay. Mr Lawson, formerly the Managing Director of Firefly Resources Limited, joined Gascoyne as a Non-Executive Director on 10 November 2021 following the implementation of the Scheme…
White Energy sells stake in Mountainside Coal Company
SYDNEY: White Energy Company Limited has sold their 51% equity in Mountainside Coal Company, based in Kentucky, USA. The sale to Kentucky based miner, Clay Laurel Mining Inc. is for a total consideration of US$4.053 million which equates to approximately AU$5.3 million. A US dollar deposit equivalent to AU$2.9 million has been placed in escrow…
EVRAZ plc
EVRAZ plc (Russian: ЕВРАЗ) is a multinational vertically integrated steel making and mining company with headquarters in London, United Kingdom. It has operations mainly in Russia, but also in Ukraine, Kazakhstan, Italy, Czech Republic, the United States, Canada and South Africa. It is listed on the London Stock Exchange and is a constituent of the…
Oracle Power and HH Private Office collaborate to explore potential mining opportunities in Africa
LONDON: Oracle Power PLC has signed a non-binding Memorandum of Understanding (MoU) with The Office of His Highness Sheikh Ahmed Dalmook Al Maktoum (HH Private Office), which will see Oracle and HH Private Office potentially partner and collaborate to explore potential mining opportunities in Africa. HH Private Office currently develops and owns various projects across…
Dr. Stephen Grocott to join Pure Minerals as Chief Executive Officer
PERTH: Pure Minerals Limited announced the appointment of Dr Stephen Grocott as Chief Executive Officer of the Company. Dr. Grocott will play a key role with Pure Minerals and will drive the technical and marketing activities of the Company, including development of relationships with global automotive, battery and cathode companies that are the prospective customers…
Madison Metals and American Pacific Mining announce shareholders’ approval for the sale of Madison Project
VANCOUVER: American Pacific Mining Corp (APM) and Madison Metals Inc. announced the shareholders of Madison have approved the sale of the Madison Copper Gold Project near Silver Star Montana, USA to APM. The Madison Project is currently under an earn-in, joint venture agreement, whereby Kennecott Exploration Company, part of the Rio Tinto Group may spend…
Ironveld Plc announces bridge loan facility and extension of IIG option agreement
LONDON: Along with its prospective strategic partner, Inclusive Investment Group Proprietary Limited (IIG), Ironveld has made an application to a major South African funding institution for project development funding which, if successful, would provide Ironveld with sufficient funds to start mining and production at the Company’s magnetite project in South Africa. On 30 March 2020,…