With a mining lease application underway and a scoping study that shows excellent economics, Impact Minerals’ game-changing, advanced Lake Hope high-purity alumina project makes for a compelling investment case.
Impact Minerals (ASX:IPT) is an exploration and development mining company focused on discovering and developing new resource projects within Australia. Lake Hope, a transformational acquisition by the company and its current flagship asset, is a high-purity alumina (HPA) project in Impact’s home territory of Western Australia, a tier-one jurisdiction.
This advanced-stage project allows the company to fast-track the asset toward development, firmly establishing the company on the road to production and increasing shareholder value.
HPA is a high-value product with various uses in several industries that are key to the transition to a low-carbon world. It is mainly used in LED lighting, micro-LED screens, and ceramic-coated separators in lithium-ion batteries. Both these markets are forecast to grow dramatically over the next decade, and a looming supply shortage is predicted for 2026.
HPA is also necessary for producing synthetic sapphire and scratch-resistant glass. With these ever-widening applications for HPA, demand for this resource is expected to grow from US$3.18 billion to US$12.21 billion by 2030 with a compounded annual growth rate of about 20 percent.
Lake Hope is the company’s current focus as it moves towards production, and where a very shallow, high-grade resource of HPA precursor material has been identified in the top two meters of a dry salt lake. The deposit has unique physical and chemical properties that will allow for inexpensive digging and mining, with transportation to a processing facility off-site in an established industrial area. This will accelerate the approvals processes required to get into production.
With a mining lease application pending, Impact aims to bring Lake Hope, which contains almost 1 million tons of potential HPA, into production when the forecast average price for 4N HPA (99.99 percent Al2O3) and related products is about US$20,000 per ton. The ‘4N’ designation indicates the purity grade, making it suitable for high-tech end uses.
Outstanding economics from the latest scoping study released by the company shows Lake Hope’s potential to be the lowest-cost producer of HPA globally by up to 50 percent.
Lake Hope has a maiden mineral resource estimate (MRE) of 3.5 million tons at 25.1 percent alumina (Al2O3) for a contained 880,000 tons of alumina. The company also received heritage clearances for the entire Lake Hope deposit further de-risking the project and providing another critical component in the company’s application for a mining lease.
Impact completed a bulk sampling and test pits program at the Lake Hope project in December 2023, and later reached a key milestone by producing HPA greater than 99.99 percent (4N) purity from the metallurgical processing of lake clays acquired from Lake Hope.
In February 2024, a new proprietary metallurgical process for producing HPA from the lake clays was identified. Impact produced 99.99 percent (4N) Al2O3 from a low-temperature leach (LTL) process. The LTL process may lower the capital and operating costs to produce HPA compared to the sulphate process which underpinned the recent scoping study. The LTL process will be included in the ongoing pre-feasibility study in parallel with the sulphate process at marginal extra cost to determine the best processing route to HPA. The PFS is due to be completed in late 2024.
A comparison of the LTL process and the sulphate process
The company is well funded to finance the pre-feasibility study at the Lake Hope High Purity Alumina project and exploration activities at the Arkun battery minerals project.
Impact Minerals was also one of the inaugural cohort of seven companies selected to be part of the prestigious BHP Xplor program. BHP Xplor, an accelerator program introduced by BHP in August 2022, is designed to help provide participants with the opportunity to accelerate their growth and the potential to establish a long-term partnership with BHP and its global network of partners.
The BHP Xplor funding was used to identify new target areas for copper and other energy metals around the Broken Hill area in New South Wales, eastern Australia, where Impact has been quietly adding to its ground position for several years.
Additionally, the company is exploring its large Arkun battery metals project, also in Western Australia which covers nearly 2,900 square kilometres. Three new exploration licence applications were submitted recently immediately north of the Arkun project along trend from the recently discovered REE soil geochemistry anomalies at Hyperion, Swordfish and Horseshoe, and the Caligula copper anomaly. These anomalies require drill testing which will occur in 2024 and is an exciting development in the emerging mineral province of southwest WA.
A strong management team with over 50 years of combined industry experience leads the company. With a mining and exploration geology degree, Dr. Mike Jones, managing director, launched a long career consulting and leading mining organizations. Peter Unsworth, the non-executive chairman, has more than 35 years of experience in multiple financial sectors, such as securities industries and wealth management. Paul Ingram, a non-executive director, has led several mining companies since 2003. Impact Minerals has the experience and expertise to lead the company to success.
Impact Minerals’ Lake Hope HPA project is in Western Australia, a tier-one mining jurisdiction. HPA is a crucial component in many new and emerging technologies, creating ongoing demand for high-grade sources. The Lake Hope project is the company’s flagship as it moves toward production.
The scoping study was underpinned by a sulphuric acid process allowing the company to achieve a new milestone by producing HPA with purity of more than than 99.99 percent (4N) from the metallurgical processing of lake clays acquired from Lake Hope. The company further identified a new proprietary metallurgical process for producing HPA from the lake clays. Known as the low-temperature leach (LTL) process, this also produced 99.99 percent (4N) Al2O3 and has the potential to lower even further the capital and operating costs to produce HPA compared to the sulphate process. The LTL process will be included in the ongoing pre-feasibility study along with the sulphate process to determine the best processing route to HPA. The PFS is due to be completed in late 2024.
The Broken Hill project has a significant land position of 815 square kilometers and hosts multiple targets with the potential for high-grade copper. Broken Hill is located in New South Wales, Australia, an area known for its prolific silver-lead-zinc mining operations and the giant Broken Hill deposit.
The Arkun project is a 2,900-square-kilometer nickel, copper and gold project located in the emerging Ni-Cu-PGE province near the world-class Julimar Ni-Cu-PGE deposit and surrounded by Anglo American Corporation, which secured its ground holding shortly after Impact secured its asset. Anglo-American is one of the world’s top ten mining companies, and their presence in the region brings confidence in the project’s potential.
Peter Unsworth, formerly a chartered accountant, has over 35 years of experience in the corporate finance, investment and securities industries and a wealth of management experience with public and private companies. A former executive director with a leading Western Australian stockbroking company, Unsworth has been a director of several public exploration and mining companies. He recently completed a long time serving as chairman of the Western Australian Government-owned Gold Corporation (operator of The Perth Mint). Unsworth is the founding chairman of Impact Minerals.
Dr. Mike Jones is the founding managing director of Impact Minerals Limited, which was listed on the Australian Stock Exchange in November 2006. Reporting to the board of directors, he is responsible for the company's performance as it moves towards production at its Lake Hope High Purity Alumina Project and also for implementing strategies to explore and maximize the value of the company's other extensive tenement holdings.
Since listing, he has helped raise more than $60 million to help fund the exploration of Impact’s projects and managed the company through significant adverse events, including the global financial crisis and the Fukushima nuclear disaster, which affected Impact’s considerable investment in the uranium sector, a five-year global downturn in the mining sector and more recently, the COVID-19 pandemic.
Paul Ingram is a geologist with extensive experience managing major mineral exploration programs for several publicly listed companies and has been involved in the mining sector for over thirty years. He has designed and implemented innovative techniques for exploration in remote areas and has managed projects in countries throughout Australia and East Asia. Ingram has been a director of the following listed companies in the past three years: Polo Resources from January 2008 to January 2011; A-Cap Resources since June 2009; Consolidated Global Investments since September 2006; Caledon Resources from February 2003 to March 2008; and Australian Pacific Coal since March 2011.
Dr. Frank Bierlein is a geologist with 30 years of experience as a consultant, researcher, lecturer and industry professional. Bierlein has held exploration and generative geology management positions with QMSD Mining, Qatar Mining, Afmeco Australia and Areva NC, and consulted for, among others, Newmont Gold, Resolute Mining, Goldfields International, Freeport McMoRan, and the International Atomic Energy Agency. He is currently a non-executive director of PNX Metals. He was previously a non-executive director of Gold Australia NL and chaired the advisory board of a Luxembourg-based private equity fund between 2014 and 2021.
Franco-Nevada Corporation announced today that it will report its third quarter 2024 results as follows:
Third Quarter 2024 Results Release: |
For more information, please visit our website at www.franco-nevada.com .
View original content: https://www.prnewswire.com/news-releases/franco-nevada-to-release-third-quarter-2024-results-302270480.html
SOURCE Franco-Nevada Corporation
View original content: http://www.newswire.ca/en/releases/archive/October2024/08/c9935.html
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All amounts expressed in US dollars unless stated otherwise
Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) Very significant near-mine discoveries within trucking distance of the plant are poised to keep growing Kibali, Africa's largest gold mine, well into the future, says Barrick president and chief executive Mark Bristow. The company is also consolidating new prospective grounds for both gold and copper to expand its footprint in the DRC.
Speaking to media and local stakeholders here, Bristow said the newly defined ARK target located four kilometers from the processing plant had the potential to deliver, through additional exploration, a high-grade multi-million ounce orebody. This, in addition to the KCD downdip extensions, support Kibali's ability to continue replacing reserves depleted by mining with high-quality ounces going forward. The mine is currently on track to meet its production and cost guidance for the year and remains one of the most cost-efficient producers on the continent.
Bristow noted that Kibali was a frontier mine which over 15 years had catalyzed and promoted the growth of a thriving regional economy in the country's remote North East region. This continues to be driven by its multi-stakeholder model of partnering with local businesses and communities. To date, it has spent $2.87 billion with local contractors and suppliers.
Kibali is currently collaborating with the government on a series of initiatives aimed at further enhancing its local content initiatives in the region which will benefit more than 500 local companies. In addition, 41 of the 44 projects targeted under Kibali's community development fund have been completed while nine of the 14 projects supported by the mine's Cahier des Charges initiative are nearing completion.
The mine's commitment to biodiversity preservation is set for its next stage as it fine-tunes plans to add 64 white rhinos to the 16 successfully relocated to Garamba National Park last year.
Kibali continues to contribute to the Barrick group's emissions reduction roadmap. When the commissioning of its new 16-megawatt solar plant and battery energy storage system, which augments its three hydropower stations, is completed, its renewable energy penetration will increase from 79% to 85% and for six months of the year its energy use will be entirely renewable.
Enquiries:
DRC country manager
Cyrille Mutombo
+243 812 532 441
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "on track", "potential", "expect", "continue", "increase", "commitment", "grow", "will", and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick's forward-looking production guidance; anticipated production and exploration opportunities at Kibali, and its potential to replace reserves net of depletion; Barrick's strategy, plans, targets and goals in respect of environmental and social governance issues, including renewable energy, biodiversity and local procurement initiatives and investment in local partnerships and communities; Barrick's investment in community programs and projects; and Barrick's commitment to the DRC and potential further growth opportunities.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in the DRC and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company's expectations; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of Barrick's targeted investments and projects will meet the Company's capital allocation objectives and internal hurdle rate; damage to the Company's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company's handling of environmental matters or dealings with community groups, whether true or not; risks associated with new diseases, epidemics and pandemics; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations to related to greenhouse gas emission levels, energy efficiency and reporting of risks; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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Kinross Gold Corporation (TSX: K; NYSE: KGC) will release its financial statements and operating results for the third quarter of 2024 on Tuesday, November 5, 2024, after market close. On Wednesday, November 6, 2024, at 8:00 a.m. ET Kinross will hold a conference call and audio webcast to discuss the results, followed by a question-and-answer session. The call-in numbers are as follows:
Canada & US toll-free – 1 (888) 596-4144; Passcode: 9135525
Outside of Canada & US – 1 (646) 968-2525; Passcode: 9135525
Replay (available up to 14 days after the call):
Canada & US toll-free – 1 (800) 770-2030; Passcode: 9135525
Outside of Canada & US – 1 (647) 362-9199; Passcode: 9135525
You may also access the conference call on a listen-only basis via webcast at our website www.kinross.com . The audio webcast will be archived on www.kinross.com .
About Kinross Gold Corporation
Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).
Media Contact
Victoria Barrington
Senior Director, Corporate Communications
phone: 647-788-4153
victoria.barrington@kinross.com
Investor Relations Contact
David Shaver
Senior Vice-President
phone: 416-365-2761
InvestorRelations@kinross.com
Source: Kinross Gold Corp.
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Celsius Resources Limited (“CLA” or “Celsius”) (ASX, AIM: CLA) is pleased to announce that its Philippine affiliate, Makilala Mining Company, Inc. (“MMCI or the “Company”), has entered into a partnership agreement with the Technical Education and Skills Development Authority(“TESDA”) to develop local community skills for its flagship Maalinao-Caigutan-Biyog CopperGold Project (“MCB” or the “Project”).
HIGHLIGHTS
The Memorandum of Agreement (MOA) which was signed on 3 October 2024 aims to maximise the participation and build the capacity of qualified individuals from the local community for employment and business opportunities in preparation for the early works development anticipated to start this year and subsequently construction and operations of the MCB Project.
As a government agency mandated to provide technical manpower skills to the country’s workforce, the partnership is in line with TESDA’s Technical-Vocational Education and Training (TVET) Program1 goals of developing ‘world-class competence and positive work values’ among the Filipino workforce. It also aligns with MMCI’s synergistic approach for the efficient use of resources to achieve common goals.
Celsius Sustainability Director Attilenore Manero, said:
“Our partnership with TESDA is an important step towards empowering the local community by providing practical skills training that equips residents to better participate in the opportunities presented by the MCB Mining Project. This initiative helps ensure that community members are prepared to take advantage of job and business opportunities, thus fostering long-term growth.”
“This collaboration supports the national goal of building a skilled workforce that can contribute to the country’s sustainable economic growth. It also strengthens the project’s social foundations by optimising community engagement and reinforcing our belief that sustainable growth and community well-being can go hand-in-hand striking a balance between our economic objectivesand social development objectives.”
Under the Community-Based Skills Training Program, MMCI and TESDA Cordillera Administrative Region (TESDA-CAR) will jointly design, develop, and implement training programs that meet national competency standards and the requirements of the MCB Project.
Following the signing of the MOA, MMCI and TESDA-CAR will develop a workplan outlining the necessary human, material, and financial resources to effectively and efficiently operationalisethe agreement. Initially, the training program will prioritise construction skills such as carpentry, masonry, construction painting, tile setting, formworks installation, welding, reinforcing steel works, and plumbing.
Signing of the Memorandum of Agreement between Makilala Mining Company, Inc. and the Technical Education and Skills Development Authority with Kalinga Provincial Governor Hon. James S. Edduba
(From left to right: Ms. Procerphina P. Pacaydo, TESDA Kalinga Acting Provincial Director; Ms. Attilenore P. Manero, MMCI Corp. Affairs and Sustainability Director; Atty. Balmyrson M. Valdez, TESDA-CAR Regional Director; Hon. Alfredo B. Malannag, Jr., Pasil Municipal Mayor; Fr. Alberto Maiyao, Sr., Balatoc Council of Elders Chairperson; Peter Hume, MMCI Director;Sherwin C. Bali, Cordillera Institute of Technical Education-Kalinga Campus Administrator)