Mining Code

B2Gold Reports Strong Q4 and Full Year 2023 Results; Achieved 2023 Total Gold Production and Consolidated Cost Guidance; Q1 2024 Dividend of US$0.04 per Share Declared

Retrieved on: 
Wednesday, February 21, 2024

In the fourth quarter of 2023, the Otjikoto Mine produced a quarterly record of 81,111 ounces of gold.

Key Points: 
  • In the fourth quarter of 2023, the Otjikoto Mine produced a quarterly record of 81,111 ounces of gold.
  • For the fourth quarter of 2023, the Otjikoto Mine's cash operating costs were $451 per gold ounce produced ($503 per ounce gold sold).
  • All-in sustaining costs for the Otjikoto Mine for the fourth quarter of 2023 were $816 per gold ounce sold.
  • Gold production at Otjikoto is expected to be relatively consistent throughout 2024.

B2Gold Announces Total Gold Production for Q4 2023 of 288,665 oz; Total Gold Production for 2023 of 1,061,060 oz, Achieving Upper Half of 2023 Guidance; 2024 Guidance, Preliminary 2025 Production Outlook and Gold Prepay Arrangement

Retrieved on: 
Wednesday, January 24, 2024

B2Gold applies the equity method of accounting for its expected 15% ownership interest in Calibre effective January 24, 2024.

Key Points: 
  • B2Gold applies the equity method of accounting for its expected 15% ownership interest in Calibre effective January 24, 2024.
  • The contribution of this gold production from Fekola Regional is now assumed to start at the beginning of 2025.
  • Mining operations will commence upon receipt of an exploitation license, with gold production approximately three months after commencement.
  • Gold production is expected to be evenly weighted between the first half of 2024 and the second half of 2024.

Kibali Drives Sustainable Value Creation Through Partnerships

Retrieved on: 
Thursday, October 5, 2023

KINSHASA, Democratic Republic of Congo, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – The planned third-quarter ramp-up at Kibali, Africa’s largest gold mine, has positioned it strongly to achieve its production guidance for the year, maintaining Barrick’s track record of delivery in the Democratic Republic of Congo.

Key Points: 
  • Kibali derives most of its energy needs from its three hydropower stations with plans for a 16MW solar farm with a battery energy storage system to augment the hydropower supply during the dry season well under way.
  • Part of the World Gold Council’s new documentary, GOLD: A Journey with Idris Elba , released on YouTube today, was filmed at Kibali.
  • Bristow said the mine was driving sustainable value creation through local partnerships, spending over $180 million with Congolese suppliers in the year to date and continuing to invest in community development programs.
  • Additionally, the mine’s community development fund, which contributes 0.3% of revenue to projects, now has 44 projects under its wing.

SIGMA LITHIUM RESPONDS TO INACCURATE MEDIA REPORTS; CATEGORICALLY AFFIRMS PHASE 2 & 3 EXPANSION PLANS ARE PROCEEDING AS PLANNED; STRATEGIC PROCESS SUCCESSFULLY CONTINUES

Retrieved on: 
Friday, September 29, 2023

SAO PAULO, Sept. 29, 2023 /PRNewswire/ -- Sigma Lithium Corporation ("Sigma Lithium" or the "Company") (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable chemical-grade lithium concentrate, categorically states that its Phase 2 & 3 expansion plans are proceeding as planned.

Key Points: 
  • The Brazilian Courts authorized the transfer of the Exploration Sub-Plots by RIX without cost to Sigma Brazil.
  • This compensation is an internal matter related to RIX and does not impact Sigma Brazil nor Sigma Lithium.
  • The Brazilian Courts authorized the transfer of the Exploration Sub-Plots by RIX without cost to Sigma Brazil or Sigma Lithium.
  • This compensation is an internal matter related to RIX and does not impact Sigma Brazil or Sigma Lithium.

The Metals Company Announces Investor Conference Schedule Through End of 2023

Retrieved on: 
Friday, September 8, 2023

NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The Metals Company (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, intends to participate at the following in-person conferences being held by leading organizations and financial institutions during the third and fourth quarters of 2023.

Key Points: 
  • NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The Metals Company (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, intends to participate at the following in-person conferences being held by leading organizations and financial institutions during the third and fourth quarters of 2023.
  • On August 14, TMC announced a Registered Direct Offering at a price of $2.00, a premium of 82% to the TMC closing share price on August 11
    On August 1, TMC provided a corporate update on expected development timeline, production capacity and application costs for its NORI-D Nodule Project following the recent International Seabed Authority (ISA) Council decisions on a roadmap to deliver final rules, regulations and procedures, also known as the Mining Code
    In July, the International Seabed Authority defined a roadmap to adopting final regulations for exploitation and TMC subsidiary Nauru Ocean Resources Inc. (NORI) intends to submit an application to the ISA for an exploitation contract for NORI Area D following the July 2024 meeting of the ISA.
  • Assuming a one-year review process, NORI expects to be in production in the fourth quarter of 2025
    Location: Lotte New York Palace Hotel, New York, NY

The Metals Company Provides Second Quarter 2023 Corporate Update and Commentary on ~$27 Million Capital Raise at $2.00 Per Share with Potential Upsizing to $38 Million

Retrieved on: 
Monday, August 14, 2023

Chairman and CEO Gerard Barron and CFO Craig Shesky along with several TMC board members also participated in the transaction.

Key Points: 
  • Chairman and CEO Gerard Barron and CFO Craig Shesky along with several TMC board members also participated in the transaction.
  • Exploration evaluation expenses during the quarter ended June 30, 2023 were $8.1 million compared to $10.2 million for the quarter ended June 30, 2022.
  • General and administrative expenses were $5.1 million for the quarter ended June 30, 2023 compared to $8.1 million for the quarter ended June 30, 2022.
  • ET to provide an update on recent corporate developments, first quarter financial results and upcoming milestones.

TMC Announces Corporate Update on Expected Timeline, Application Costs and Production Capacity Following Part II of the 28th Session of the International Seabed Authority

Retrieved on: 
Tuesday, August 1, 2023

Assuming a one-year review process, NORI expects to be in production in the fourth quarter of 2025.

Key Points: 
  • Assuming a one-year review process, NORI expects to be in production in the fourth quarter of 2025.
  • The Company estimates that it will require $60 to 70 million of additional cash to submit an application for an exploitation contract following the July 2024 meeting of the ISA.
  • TMC had $20M cash on hand and an undrawn $25M unsecured credit facility as of June 30th 2023.
  • Assuming a one-year review process for an application, NORI expects to be in production in the fourth quarter of 2025.

The Metals Company Comments on ISA Council Decision and Intention to Deliver Final Rules, Regulations and Procedures for Exploitation

Retrieved on: 
Monday, July 24, 2023

“It is now a question of when — rather than if — commercial-scale nodule collection will begin,” said TMC Chairman and CEO Gerard Barron.

Key Points: 
  • “It is now a question of when — rather than if — commercial-scale nodule collection will begin,” said TMC Chairman and CEO Gerard Barron.
  • Last Friday’s consensus decision that included Member States who have called for a precautionary pause is a hard-won compromise that reduces this uncertainty.
  • We are obviously disappointed that the ISA failed to adopt RRPs by 9 July 2023 as we hoped two years ago.
  • NORI will continue to work tirelessly to complete a comprehensive, science-driven environmental and social impact assessment (ESIA) of the highest quality.

The Metals Company Provides Q1 2023 Corporate Update

Retrieved on: 
Thursday, May 11, 2023

NEW YORK, May 11, 2023 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and financial results for the first quarter ending March 31, 2023.

Key Points: 
  • NEW YORK, May 11, 2023 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and financial results for the first quarter ending March 31, 2023.
  • Marine minerals are emerging as a strong potential source to help meet growing metals demand.
  • General and administrative expenses were $6.2 million for the quarter ended March 31, 2023 compared to $8.5 million for the quarter ended March 31, 2022.
  • ET to provide an update on recent corporate developments, first quarter financial results and upcoming milestones.

Ivanhoe Mines and Gecamines Sign New Agreement to Return the Ultra-High-Grade Kipushi Mine in the DRC to Production

Retrieved on: 
Monday, February 14, 2022

Ivanhoe Mines has been a key partner in the Kipushi Project for over a decade and we appreciate their continued commitment to the project.

Key Points: 
  • Ivanhoe Mines has been a key partner in the Kipushi Project for over a decade and we appreciate their continued commitment to the project.
  • (L-R) Olivier Binyingo (Ivanhoe Mines Vice President Public Affairs DRC), Marna Cloete (Ivanhoe Mines President), Alphonse Kaputo Kalubi (Chairman of Gcamines), and Louis Watum (General Manager, Kipushi Corporation) discussing the Kipushi partnership during a recent visit to the Kamoa-Kakula mining complex.
  • The Kipushi Mine is operated by Kipushi Corporation (KICO), a joint venture between Ivanhoe Mines wholly owned subsidiary, Kipushi Holding, and Gcamines, the DRC's state-owned mining company.
  • Figure 1: World's 10 major zinc mines, showing estimated annual zinc production and zinc head grades (ranked by production, 2020).