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 Copper�Gold 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)
HIGHLIGHTS
The assay results from hole first drill hole of the program have returned shallow and wide high grade gold values, the highlight intersection being 33.0 m at 2.4 g/t of gold from 31 m (DDD047).
The drilling program was designed to expand and upgrade the recently announced shallow, high grade, maiden gold inferred resource of 4.93Mt for 452koz of gold at 2.9 g/t Au (1.0 g/t Au cut off)1.
The first hole, DDD047, was drilled in the Domain – SW of the Blaffo Guetto prospect (Figure 1).
Figure 1: Map of the Blaffo Guetto prospect showing location of the new drillholes (the collars are shown as the dots). Trace of the DDD047 is shown for the reference; (a) gold lodes projected on the surface and shown on the geological map; (b) gold lodes.
The mineralised intercept obtained by the first drillhole, DDD047, is located outside of the Blaffo Guetto Inferred Resource envelopes (Figure 2).
Figure 2: Longsection of the lode 3 showing location of the DDD047 intercept relative to the Mineral Resource blocks estimated in this lode.
Mineralisation from hole DDD047 is hosted in a quartz porphyry (Figure 3a). Field traverses have identified sub- crops of the porphyries on the surface above this intersection suggesting that the mineralised porphyry extends to the surface, and it also remains open at depth (Figure 3b).
The discovery of the porphyry acting as a main host of the gold mineralisation is new for the Didievi Project and indicates the presence of a new mineralisation type, which significantly enhances the prospectivity of the project area and the potential for new gold discoveries. The gold lodes delineated by the previous drilling data were preferentially controlled by shear zones cutting the host volcano-sedimentary succession and also distributed along the contacts of the intrusive porphyry bodies. The mineralised porphyries represent new exploration targets and mapped by resistivity high anomalies, which could be due to unexposed and yet to be drill-tested porphyry bodies.
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The project was assessed by the independent Projects Advisory Group and the responsible Ministers who consider project meets the Bill's purpose to facilitate the delivery of infrastructure and development projects with significant regional and national benefit.
The Fast Track Approvals Bill is now due for reporting back from the Select Committee on 18 October 2024 and expected to be enacted before the end of the year.
The Taranaki VTM project has the potential to significantly increase New Zealand's export earnings and produce the critical minerals required for the transition to a zero-emissions energy system.
"This is a welcome development and we recognise that this is the first step in the government's approvals process, including finalising the Fast Track enabling legislation. Once enacted we will have to then make an application to the Environmental Protection Authority to be assessed under the Bill. Our project offers huge economic development opportunities for New Zealand including hundreds of jobs in the Taranaki region." Manuka Executive Director and TTR Executive Chairman Alan Eggers says.
"It is of national significance as we have identified a world-class vanadium rich iron sands resource that has the ability to contribute $1 billion annually to export earnings, doubling the entire mining sector's current contribution to New Zealand's economy."
Mr Eggers says the Taranaki VTM project proposes to harvest iron sands in the South Taranaki Bight containing iron ore and critical minerals vanadium and titanium that are in high demand globally as countries, including New Zealand, transition from fossil fuels to renewable energy and electrification of their economies.
Furthermore, he notes the benefits to the Taranaki region include 300 Taranaki-based jobs and an additional 170 jobs in the wider region, locally a $250 million annual spend on operations and staff, new infrastructure at Port Taranaki and Whanganui Port, and the establishment of a training institute and logistics hub in Hawera with head office in New Plymouth.
Mr Eggers continues that the company's environmental obligations are incredibly important, and states "we don't for a minute believe that the Fast Track process is a way to minimise or short cut these. We have already agreed to more than 100 operating conditions and a full set of management plans with the Environmental Protection Authority to recover the resource after completing New Zealand's most comprehensive mine development environmental application ever. The project will continuously restore the seabed to its natural state within two years as we progress and, despite what our opponents say, it will have minimal impact on the South Taranaki Bight marine and coastal environment.
The project provides an opportunity for New Zealand to become a world-leader in marine mineral harvesting technologies and, in a time of geopolitical uncertainty, to potentially be the largest producer of vanadium in the western world."
About Manuka Resources Limited
Manuka Resources Limited (ASX: MKR) is an Australian mining and exploration company with key gold and silver assets located in the Cobar Basin (NSW), and offshore vanadium and titanium bearing iron sands in the South Taranaki Bight of New Zealand.
The Taranaki VTM Project (South Taranaki Bight, New Zealand) Manuka is the 100% owner of the Taranaki VTM (vanadium titanomagnetite) Iron Sands Project. The Taranaki VTM Project resource was released on ASX on 1 March 2023.
The Project is located 22 km to 36 km offshore in New Zealand's EEZ, or Exclusive Economic Zone, outside the 12 nautical limit from the shoreline, in waters ranging between 20 to 50 metres depth and has a granted mining permit, MP55581, permitting production of 5Mtpa. On granting of final government approvals to operate the Company will complete its Bankable Feasibility Study on the Project. The Project is anticipated to sit in the lowest quartile of the iron ore production cost curve.
Location of Taranaki VTM Project.
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All amounts expressed in US dollars unless stated otherwise
The Twiga partnership between Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and the Tanzanian government is contributing 51% of the government's revenue from the extractive industry, according to the latest report of the Tanzania Extractive Industry Transparency Initiative. Twiga comprises the North Mara and Bulyanhulu gold mines.
Both mines also led the industry's safety performance, with Bulyanhulu winning this year's Occupational Safety and Health Award and North Mara named as the best company for caring for workers with special needs by Tanzania's Occupational Safety and Health authority.
Speaking to the media and local stakeholders here today, Barrick president and chief executive Mark Bristow said ongoing brownfields exploration around its Bulyanhulu and North Mara mines continued to define additional opportunities to replace and expand depleted reserves, further supporting their life of mine flexibility. In addition, good progress had been made in defining new greenfield areas of interest with potential to add new mines to the company's portfolio.
Bristow said the Barrick-Twiga Future Forward Education initiative had completed its first phase, with Barrick financing a $10 million infrastructure expansion at 64 schools, including the construction of 396 classrooms, 97 dormitories and 600 ablution blocks. The program's second phase is planned to start in the fourth quarter of this year with another $10 million investment which will be followed by a further $10 million third phase.
Meanwhile the Barrick Academy, inaugurated at the beginning of the year by the Minister of Minerals at the closed Buzwagi mine, has already trained more than 1,000 foremen, supervisors and superintendents from across the company's Africa and Middle East region. The Academy is on track to meet its target of training more than 2,000 people this year.
Bristow said in line with Barrick's commitment to transparency, it had referred the latest in a series of allegations of human rights abuses at the North Mara Mine to the Tanzanian Commission of Human Rights and Good Governance. Following a site visit and investigation, the Commission has completed a report confirming that there was no evidence of human rights violations, refuting allegations made by certain international NGOs.
Barrick Enquiries
Tanzania country manager
Melkiory Ngido
+255 686 945 222
Corporate communications and country liaison manager
Georgia Mutagahywa
+255 754 711 215
georgia.mutagahywa@barrick.com
Group investor and media relations
Kathy du Plessis
+44 20 7557 7738
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", "ongoing", "continue", "opportunity", "progress", "potential", "can", "should", "would", "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 partnership with the Government of Tanzania; our ability to convert resources into reserves and replace reserves net of depletion from production; Barrick's global exploration strategy and planned exploration activities, including greenfields and brownfields opportunities in Tanzania; and Barrick's sustainability initiatives in Tanzania, including local community relations, continued investments in community projects, training and skills development and economic contributions.
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 Tanzania 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 and conflicts in the Middle East; 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, including the effects and potential effects of the global Covid-19 pandemic; 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 relating 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 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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