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McEwen signs LoI to acquire Canadian Gold
McEwen has signed a binding letter of intent (LoI) with Canadian Gold to acquire all its issued and outstanding securities, which would make the latter a wholly owned subsidiary of McEwen upon completion. The proposed transaction would see Canadian Gold shareholders receive 0.0225 of a McEwen share for each Canadian Gold share, valuing the latter at C$0.35 ($0.25) each, a 26% premium over the 30-day volume-weighted average price as of 25 July 2025. Canadian Gold shareholders will own around 8.2% of the combined entity. Canadian Gold's key asset, the Tartan Mine in Manitoba, Canada, is a high-grade former producing mine with significant exploration potential and existing infrastructure. Canadian Gold also possesses 100% interests in the Hammond Reef and Malartic South exploration properties in Ontario and Quebec. These are adjacent to some of Canada's largest gold mines. McEwen chairman and chief owner Rob McEwen said: "I am enthusiastic about the Tartan Mine for several reasons. First, it is a high-grade gold deposit with strong exploration potential in Canada. Second, the existing infrastructure, including the mine ramp, roads and power, provides an opportunity to restart operations within a relatively short time frame. Third, Manitoba stands out as one of the world's premier mining jurisdictions, offering a skilled workforce, low-cost renewable energy and attractive mining tax credits. 'Additionally, the Tartan Mine shares many similarities with our Fox Complex, enabling us to leverage our internal expertise and resources to maximise its potential." The Tartan Mine is expected to recommence production within two to three years, with substantial exploration potential bolstered by Canadian Gold's recent optioning of the adjacent Tartan West property. The proposed transaction is subject to a court-approved plan of arrangement, shareholder approvals and regulatory consents, including approval from both the Toronto and New York stock exchange. Shareholder votes are expected by the end of 2025, with a special meeting for Canadian Gold shareholders. The arrangement agreement will include customary provisions, deal protection and the ability for Canadian Gold to consider superior proposals. "McEwen signs LoI to acquire Canadian Gold" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
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14-07-2025
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Q&A: Best practice for transport of uranium ore concentrates
The World Nuclear Transport Institute (WNTI) recently updated its standard on Packaging and Transport of Uranium Concentrates. The fourth version of the standard, published in March, outlines industry best practices to ensure the security and safety of communities and the environment during transport of natural uranium ore concentrates. Established in 1998, WNTI represents the collective interests of the nuclear transport industry and works closely with international organisations, regulators and industry stakeholders to promote best practices and harmonised transport standards. In the front-end of the nuclear fuel cycle, WNTI is involved in the logistics and standards setting out the legal and regulatory frameworks surrounding the transport of materials such as uranium ore concentrate (UOC), uranium hexafluoride (UF6), enriched uranium and fuel assemblies. With increased attention on the nuclear industry and the recent surge in investment into uranium exploration, Mining Technology speaks to WNTI to learn more about the standard, which covers the latest requirements for packaging, shipping and transport of uranium concentrates. Responses to this Q&A were provided by Marc-Andre Charette, director, transportation, security and regulatory relations at Cameco Corporation and Steve Hansen, chief compliance officer at TAM International, a radioactive material transport solutions provider. WNTI: The transport of UOC is governed by a combination of international regulations, national laws and industry best practices to ensure safety, security, and environmental protection. The main international regulatory frameworks and requirements include the International Atomic Energy Agency (IAEA) Specific Safety Requirements (SSR-6), Regulations for the Safe Transport of Radioactive Material; UN Recommendations on the Transport of Dangerous Goods (Orange Book) and the International Maritime Dangerous Goods (IMDG) Code. Key national and regional regulations are Title 49 of the Code of Federal Regulations (CFR) – Transportation (US); Packaging and Transport of Nuclear Substances Regulations (Canada); the European Agreement concerning the International Carriage of Dangerous Goods by Road (European Union) and other modal regulations. WNTI: Transporting UOC requires a specialised approach due to a combination of radiological, chemical, regulatory and reputational factors that distinguish it from typical industrial commodities. This is due to: Radiological risk: UOC is radioactive, though at relatively low levels, which necessitates radiation monitoring during packaging and before transport. Chemical hazard: UOC is a heavy metal, non-flammable, insoluble in water and non-reactive in water. As a dry powder, handling requires dust control, sealed containers and personal protective equipment. Regulatory complexity: Transport of uranium ore concentrate is governed by international nuclear transport regulations (see above). It may require special documentation, licensing and compliance audits. Carriers must also be trained and certified for Class 7 (radioactive) materials. Security concerns: UOC is part of the nuclear fuel cycle and thus subject to non-proliferation controls. This means that transport routes and storage should be secure. This process often involves tracking systems and government oversight. Public perception and liability: Nuclear materials carry a high public sensitivity. Thus, any incident, even minor, can lead to media scrutiny, reputational damage and legal consequences. Companies must manage risk communication and community engagement. Environmental protection: Emergency response plans must be in place to contain and remediate any incidents that occur during transport of uranium concentrates. WNTI: The WNTI Standard – Packaging and Transport of Uranium Concentrates (Version 4), published in March 2025, is a comprehensive guide developed by WNTI to promote safe, secure and efficient transport of natural uranium ore concentrates. Version 4 reflects updated industry practices and regulatory expectations. It includes: packaging requirements on the use of Type IP-1 as well as guidelines for drum integrity, sealing and stacking. It also covers best practices for arranging drums inside ISO containers and the use of restraint systems to prevent movement during transit. Other sections offer guidance on contamination control, including procedures for checking and cleaning containers before and after use as well as methods to confirm containers are free of radioactive contamination before release. The standard provides guidance for road, rail, and sea transport, with an emphasis on intermodal compatibility and regulatory compliance. It also covers security and emergency preparedness, with recommendations for route planning, tracking, and incident response in alignment with IAEA and UN transport regulations. It also details requirements for transport documentation, labelling, and personnel training. The standard is intended for a wide range of stakeholders involved in the nuclear fuel supply chain, including uranium producers and converters, transport and logistics companies, packaging manufacturers, regulatory authorities, nuclear utilities and emergency response planners. It serves as both a technical reference and a training resource, helping all parties involved in UOC transport to operate at a consistent and high standard. WNTI: Version 4 of the standard introduces several important updates and refinements compared to Version 3, reflecting evolving industry practices, regulatory expectations and operational experience. Key updates include: Expanded guidance on ISO shipping containers such as more detailed specifications for container inspection, maintenance and free release procedures. There is also now the inclusion of pre-use and pre-shipment inspection checklists to confirm container integrity. Enhanced radiological monitoring protocols, namely clearer procedures for monitoring contamination on packaging and containers, as well as an emphasis on record-keeping. Updated packaging and drum specifications, including refined guidance on IP-1 drum standards, with examples and illustrations as well as recommendations for drum stacking, sealing and labelling to improve safety and efficiency. Improved container loading practices with guidance on best practices for drum restraint systems inside ISO containers to prevent movement during transit, plus visual examples of container packing lists and multimodal dangerous goods forms. Clarified documentation requirements through more comprehensive guidance on shipping documentation, markings, labels, and notifications with templates and examples included. These changes aim to: standardise practices across the global uranium ore concentrate transport community; improve safety and regulatory compliance; reduce contamination risks and improve container turnaround times and support training and onboarding of new personnel with clearer, more visual guidance. WNTI: To ensure their uranium packaging and transport protocols align with international expectations, mining companies should implement a structured and proactive approach. Here are the practical steps they should take include: adopting international standards and best practice; using approved packaging; standardising container loading; monitoring and controlling contamination; strengthening security and emergency preparedness; maintaining accurate documentation; providing regular training and engaging with regulators and stakeholders. WNTI: The WNTI collaborates closely with a wide range of stakeholders including mining companies, logistics providers, regulators and packaging manufacturers to develop and update its transport standards. In fact, a number of our members are from mining companies. This collaboration ensures that the standards are practical, globally relevant, and aligned with evolving regulatory and operational needs. WNTI operates specialised working groups, such as the Uranium Concentrate Working Group (UCWG), which includes representatives from uranium miners, producers and converters; transport and logistics companies; packaging experts; and regulatory and safety authorities. These groups meet regularly to share operational experiences, identify challenges and propose improvements to transport practices. WNTI: We offer a range of practical support tailored to help junior mining companies and new entrants in the uranium sector navigate the complex landscape of nuclear material transport. WNTI supports these companies in several ways. Through working groups like the UCWG, WNTI connects juniors with experienced uranium producers, logistics providers, regulators and packaging experts. This fosters knowledge sharing and mentorship opportunities. WNTI also helps members understand and comply with IAEA transport regulations, UN dangerous goods codes and national licensing requirements, which is crucial for juniors unfamiliar with nuclear regulatory frameworks. Finally, WNTI provides standardised forms, inspection checklists and container loading guides. These tools help juniors implement best practices without needing to develop them from Charette, director, transportation, security and regulatory relations at Cameco Corporation, is chair of WNTI's Uranium Concentrate Working Group. Steven Hansen, chief compliance officer at TAM International was involved in developing version 4 of the standard. "Q&A: Best practice for transport of uranium ore concentrates" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-07-2025
- Business
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Crisis in the copper chain: innovation, geopolitics and Australia's role
As demand for clean energy tech rises, the global copper market is facing a supply-demand gap that analysts warn could be near impossible to close if production remains at its current levels. Adding to the market volatility are US president Donald Trump's threatened tariffs, and his executive order to fast-track US exploration and mining of critical minerals, including copper, in international waters. In the face of supply chain uncertainty, countries are prioritising sovereign access to copper. This means targeting new or previously inaccessible deposits, often deeper and more remote than previously seen, while innovators rush to develop technology that could make lower-grade ore economically viable. While Australia is by no means the biggest copper producer (ranking eighth globally in 2024), it is home to the world's second largest copper reserves, making it a key player in any long-term production strategy. With questions over how nations will meet copper demand without triggering further instability, we look at the projects working to keep Australia's supply afloat in an uncertain time. Currently, copper demand sits at around 25 million tonnes (mt) per year. However, estimates suggest that the market trajectory is pushing towards a demand of 50mt by 2050. Ollie Brown, an economist at GlobalData, told Mining Technology that this demand, similar to other critical minerals, is primarily driven by electric vehicles, grid renovations and renewable energy initiatives. Amid growing demand, he says the global copper market is defined by 'lagging supply', while Trump's threatened tariffs from the beginning of this year are 'rattling global prices.' While Trump has not set a levy against copper specifically, he has made it clear that he wants to cut back on imports and increase domestic production. In February 2025, he commissioned the US Department of Commerce to investigate potential national security risks of copper imports ─ the first step towards potentially curbing these goods. While the tariffs and their impacts remain conjecture at this stage, Nicolas Psaroudis, APAC economist at GlobalData, told Mining Technology the threat of restrictions contribute to uncertainty and price volatility. 'Internationally, export restrictions could disrupt global copper supply chains,' he explains. 'A sudden drop in supply could tighten global scrap availability, drive up international prices, and strain smelters already facing concentrate shortages.' If nothing else, the situation has proven an unwelcome reminder of the fact that global mineral supply chains remain vulnerable to the whims of trade tensions and has added to calls to bolster domestic production. Lawrence M. Cathles, professor of earth and atmospheric sciences at Cornell University, says Western nations need to be more willing to expand operations to avoid market dependence. 'It's not enough to say copper is important while refusing to do the work,' says Cathles. 'We don't want anybody to control any major commodity, but just not wanting that isn't enough. You've got to have policies and plans in place to avoid undesirable situations – and part of that is mining in our own territory.' Yet while Australia has no shortage of copper ore, the issue lies in accessing it. According to Dan Wood, exploration geologist and University of Queensland (UQ) adjunct professor, one of the main challenges is finding copper ore that's viable for development. 'Almost all of the large deposits theoretically available to replace one of the top-ten producing mines that will close in the early-2050s have all failed at least one mining feasibility study,' he says. These failures are mainly due to low ore grades and remoteness, as well as low copper prices. Even if prices rise enough to make low-grade copper development viable, Wood cautions that oversupply could trigger a feedback loop: more copper brings prices down, undoing the gains. To make the most of Australia's deposits, Wood says more should be done to access deeper ore bodies. One potential method is caving, when the rock is 'undercut' or drilled beneath the surface and recovered as it falls. While the practice is not uncommon - for instance, it is used in Sweden for iron ore - little is known about how to safely mine beyond a certain depth, and education and training around the method remains low. 'Caving isn't uncommon, but the scary thing is there are so few people left in the world who really understand it,' Wood states. 'If you go deeper than around 1.4 kilometers, there isn't much data on the rock stressors. Take Rio Tinto's Resolution deposit in Arizona. You have to go down nearly two kilometers before you reach the top of the ore, and the rocks that deep are nearly 100 degrees centigrade.' Initiatives to train the next generation of caving miners do exist - for instance UQ has partnered with Rio Tinto and the University of Mongolia to scale up caving expertise at Rio's Oyu Tolgoi mine in Mongolia. However, Wood warns the process is a long one. 'We're looking at a 20-year journey to end up with a cohort of properly trained and, most importantly, experienced caving engineers,' he says. 'This skills gap is serious and unless addressed will be a major drag on future copper supply towards 2050.' Aside from education, technology may provide another route to increasing supply, with innovators looking to make low-grade ores viable development options. One project, a collaboration between UQ and start-up Banksia Minerals Processing (BMP), is developing a more environmentally friendly means of extracting copper from low-grade resources. The process relies on hydrometallurgy rather than pyrometallurgy (water rather than heat) to extract copper from the ore; dissolving, purifying and then recovering metals from liquid using electricity. While the process itself isn't new, having been practiced in the late 1970s in the US, the team had a breakthrough in the purity of the copper produced, making it more viable for commercial deployment. The method also addresses another issue plaguing copper miners - that of impurities. Currently, smelters have strict regulations on how many impurities can be processed alongside the copper ore (with arsenic a particularly problematic contaminant). James Vaughan, head of the university's Hydrometallurgy Research Group, explains the limits are getting increasingly difficult to meet. 'Miners are having to cherry pick ore bodies, and it's a significant limitation on the amount of material that can actually be pulled out of those mines,' he said. 'That's a problem when we need more and more copper." While the typical smelting method sees arsenic exiting as a gas that can be harmful to both workers and the environment, using a water-based method stores the arsenic in a stable, and disposable, form. By addressing this challenge, Leigh Staines, managing director of BMP, says the new technology could unlock copper resources previously deemed unfeasible. 'Our hypothesis is that more than half of known copper resources out there are restricted from development due to those smelter intake limitations,' she says. 'By enabling a feasible pathway for processing of those resources, we're then able to unlock the commercial viability of bringing that supply to market.' The tech can be integrated into modular plants that are anticipated to be far cheaper to construct than traditional smelters ─in the order of hundreds of millions rather than billions ─ and running on an estimated 50% less energy. As a result, the team say the project could pave the way for an economically viable onshore processing option, and bolster Australia's supply chain independence. 'We see a real opportunity from a sovereign supply perspective – gaining access to not only copper itself but the by-products from copper concentrate,' Staines says. 'In the longer term, if this takes off, I really do think it will become the new norm.' Yet while innovations such as these show Australia is already on its way to unlocking copper's potential, another persistent concern is that without sufficient funding, even the best tech won't close the gap. On the global stage, Arthur F. Thurnau, professor of mineral resources at the University of Michigan warns the West is underfunding its mining workforce. 'Governments in Australia, Canada, the EU and the US do not seem to fully appreciate the magnitude of the difference in education and training between these regions and China,' he says. 'Specifically, in the fields of geology and mining, China has more faculty and graduate students within a single university (such as the China University of Geosciences Beijing), than the sum of Australia, Canada, the EU and the US' Without closing the gap, Thurnau warns that Western nations will be forever trying to catch up to China. ' For Cathles, government attitude is also an issue, though he points more towards a lack of realism in the demand for copper in the path to net zero. 'If the goal is to electrify everything and thereby dramatically increase copper demand - double or even triple it – you can't just suddenly mine more because the mining infrastructure cannot be expanded quickly,' he says. Instead, he calls for long-term planning: building a skilled workforce and pursuing a more pragmatic clean energy transition that reduces pressure on supply chains. There may be promising alternatives, he adds, such as battery chemistries that use less copper, pairing renewables with backup systems like gas-powered plants, or a focus on rolling out hybrid rather than fully electric vehicles. While these options may mean it takes longer to reach net zero, Cathles said they lessen the strain on copper production. 'Let's be sensible,' he says. 'We need grounded policies. We shouldn't place sudden, unrealistic demands on sectors that we know can't respond quickly.' Whether through education, innovation, or a more measured path to net zero, one thing is clear: the world must confront the widening gap between copper demand and supply. As Cathles and Thurnau both emphasise, the solution won't come from mining alone. It will require strategic investment in human capital, realistic energy policies, and a willingness to adapt. Without these, Western nations, including Australia, risk falling behind - not only in production capacity, but in their ability to lead a sustainable energy transition. "Crisis in the copper chain: innovation, geopolitics and Australia's role" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
25-06-2025
- Business
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Surface mining: assessing global equipment trends
Surface mining uses a variety of often highly specialised equipment such as trucks, dozers and excavators for extracting resources from just below the Earth's surface. It is generally more cost-effective than underground mining, with the process tending to recover a higher quantity of the mineral deposits. However, the process, which encompasses removing layers of soil and rock to access minerals found nearer to the surface, contends with a variety of environmental and business-based issues – and has developed systems and technology to try and do just that. Mining Technology examines some of the biggest developments in surface mining equipment and how the industry is seeking to use innovation to help overcome problems, improve efficiency and reduce costs. GlobalData's Global Surface Mining Equipment: Populations & Forecasts to 2030 report, published in December 2024, estimates that the total number of dozers, hydraulic excavators, motor graders, rope shovels, trucks and wheel loaders across all active mines, excluding quarries, at the end of 2024 was 155,976. In fact, the total number of active machines is forecast to rise to 170,982 by 2030, a compound annual growth rate of 1.5% from 2024 to 2030, with trucks being the largest contributor, followed by dozers, accounting for 14% of machines, and then hydraulic excavators/shovels at 11%. The leading OEMs in surface mining trucks are Caterpillar, Komatsu and Volvo, says the GlobalData research, with Tata having a strong position in Asia-Pacific (mainly in India) and Belaz having a strong position in the former Soviet Union. Overall, Caterpillar is seen to be the market leader with a share of around 40%, followed by Komatsu with 20% and Volvo with 10%. David Kurtz, director, mining & construction at GlobalData, Mining Technology's parent company, suggests that to some extent the "electrification of surface equipment vehicles is an unstoppable trend in the industry as miners work towards minimising emissions. In some cases, mobile diesel can account for 40% or more of [a mine's] scope 1 & 2 emissions'. He adds that 'customers place a high emphasis on lifetime costs, and so they are looking to continually improve in that area, as well as limit the environmental impact and continue to extend the technologies available, across areas such as the Internet of Things and connectivity to automation'. A representative of Sandvik, a Swedish multinational engineering company specialising in mining products and services, says making all types of equipment 'more productive and cost efficient while ensuring sustainability means leaning into automation that enables efficiency, ease of use and safety' while 'electrification will play a significant part in ensuring sustainable drilling'. Meanwhile, Epiroc, a manufacturer of mining and infrastructure equipment, says the electrification of surface equipment is beginning to appear more and more. 'The past few years, electrification – and perhaps most noticeably battery electrification – has been used mostly for underground operations, with the most obvious benefit being the reduced need for expensive ventilation systems. However, we are seeing growing interest also for surface electrification,' an Epiroc representative tells Mining Technology. In April, Epiroc took an order for a massive vehicle fleet, around 50 machines, of cable-electric and battery-electric drill rigs for Fortescue's open-pit iron ore mines in the Pilbara region of Western Australia. The order remains the largest in Epiroc's history, with a value exceeding $220m (Skr2.2bn) over five years. The driverless machines will eventually be operated fully autonomously, overseen from Fortescue's Integrated Operations Centre in Perth more than 1,500km away, and will eliminate around 35 million litres of diesel consumption annually, according to a Fortescue statement released at the time. When asked if the electrification of surface equipment vehicles was a growing trend, Sandvik replied that by 'some estimates, 30% of surface mining already has the required infrastructure to support electrification of drills. For those operations, electrification is going to be a reality soon, if not already today. 'For other operations, we will continue to see a gradual increase in adoption driven by multiple factors including availability of cheap electricity, improved equipment performance and lower life cycle costs versus diesel-powered solutions,' adds the Sandvik representative. Caterpillar, one of the world's leading manufacturers of construction and mining equipment, has invested heavily in recent years in all manner of electric vehicles, launched its Early Learner programme in 2021 to 'accelerate its development and validation of Cat battery-electric large mining trucks with support from key mining customers and Cat dealers', according to a previous press statement. The company expanded the programme – which is aimed at fostering collaboration with customers to better understand the impacts of the energy transition on mining technology – to include off-highway trucks to support increasing demand from the quarry and aggregates industries. Mining and construction giant Liebherr tells Mining Technology that 'for miners, renewable electricity, if available, will likely be the cheapest option for decarbonisation. In some cases, conditions such as weather, political environment, geographic area etc., might mean electricity is not consistently available. 'Different regions might have different energy types due to the unique local generic cost of these energies. This will lead to a larger variation of equipment and a higher customisation of the machines. Hence, Liebherr decided to build mining equipment in a modular form and so staying energy and powertrain agnostic by offering a variety of complementary solutions.' As of November 2024, GlobalData was tracking 2,348 autonomous haul trucks (including autonomous-ready machines) operating at surface mines across the globe, up from 1,704 in November 2023. The largest population is in Australia with 942, followed by China (790), Canada (297) and Chile (172). Autonomous or self-driving surface mining trucks – usually used in open-pit mines to move ore and waste rock – utilise technologies such as GPS, radar and AI to operate without human drivers. They can be remotely controlled or managed by a central system that predetermines speeds, routes, and ore or mineral collections. Autonomous trucks also have an efficiency advantage over more traditional forms of transport, being able to operate continuously day and night, increasing productivity and reducing downtime. There are also savings around fuel consumption. The autonomous operation of surface machines is a growing trend, strengthening productivity and reducing emissions, says Epiroc. Liebherr also tells Mining Technology that 'technology, digitalisation and automation remain key enablers for mining equipment optimisation. Technology plays a huge role in the support Liebherr Mining offers our customers as they work to meet their emission reduction targets. 'Advances in technology help to optimise mining by facilitating and/or improving processes for organising, tracking, informing, predicting and assisting mines in reaching maximum production with the least amount of energy used." In May, Komatsu achieved what it described as a 'significant milestone of autonomously operating a power agnostic electric drive truck' while connected to a dynamic trolley line. It claims this was the first time in the mining industry's history that power has been transferred to a moving, autonomously operated haul truck via a trolley system. The solution is 'designed to help operations reduce carbon emissions, extend engine life and support the journey toward a zero-emissions future', says a statement from the company. Amit Kumar, project manager, mining industry research, mining operations at GlobalData, suggests that trolley trucks are not suited to every mine site, but there are certain criteria that make them viable, such as mine sites requiring significant uphill/grade haulage or those that have uphill haul roads that do not change very often. However, off-grid mines 'producing electricity using diesel generators aren't suitable for trolley truck systems. In fact, trolley trucks have been around for a couple of decades but didn't gain much popularity because of the limitations involved,' says Kumar. He continues that smaller and mid-size fully battery trucks already in use outnumber the trolley trucks, and in 'coming years we are sure larger-size fully battery electric trucks will be more popular than trolley-assist trucks'. Kurtz adds that while 'the number of trolley trucks has risen from just over 200 three years ago, there were only prototype battery trucks running back then. Having said that, miners are also using renewable diesel in place of fossil diesel, and there is some potential for hydrogen-powered machines. Another trend is one towards hybrid machines due to concerns over uptime and charging.' Liebherr argues that 'using trolley systems can reduce greenhouse gas emissions by up to 80%. Already today, Liebherr can provide complete trolley system[s] including infrastructure as well as truck systems like pantographs.' As of November 2024, GlobalData was tracking 263 trolley assist trucks and 207 battery-electric trucks operating at surface mines across the globe, with this information collected from secondary research as well as interviews with key personnel at mine sites. The largest population of trolley assist trucks is in Zambia (133), followed by Namibia (56) and South Africa (20). Hitachi, Komatsu and Liebherr are the main suppliers of trolley assist trucks with more than 90% of the trucks tracked by the Mining Intelligence Centre, with the EH3500AC, 960E and T284 the most popular models for the three OEMs, respectively. "Surface mining: assessing global equipment trends" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
24-06-2025
- Business
- Yahoo
Vizsla Silver to raise $100m for Mexican silver-gold project development
Canadian mineral exploration and development company Vizsla Silver has signed an agreement with Canaccord Genuity to sell 33.34 million common shares at $3 each to raise approximately $100m. Facilitated by Canaccord Genuity as the sole bookrunner, this offering is expected to close around 26 June 2025, pending regulatory approvals. The net proceeds from this offering are earmarked for the advancement of Vizsla Silver's 100%-owned Panuco silver-gold project, in Sinaloa, Mexico, encompassing exploration, drilling, and development activities. The funds will also support working capital and general corporate purposes. The underwriters have been granted an overallotment option, which allows them to purchase up to an additional 15% of the offering within 30 days post-closing to manage overallotments. In the event this option is fully exercised, the gross proceeds could reach approximately $115m. The common shares are being offered in Canada, excluding Quebec, through a prospectus supplement, as part of Vizsla Silver's base shelf prospectus dated 28 April 2025. Vizsla Silver concluded a preliminary economic study for its Panuco project in July 2024, demonstrating significant potential with an estimated annual production of 15.2 million ounces (moz) of silver equivalent over an initial mine life of 10.6 years. The study forecasts a post-tax net present value (NPV) at a 5% discount rate of $1.1bn, an internal rate of return (IRR) of 86%, and a rapid payback period of nine months, based on silver and gold prices of $26/oz and $1,975/oz, respectively. The company is pursuing a dual-track development strategy at Panuco, focusing on advancing mine development while simultaneously and cost-effectively conducting district-scale exploration to become the preeminent silver producer globally. In April 2024, Vizsla Silver announced the acquisition of two significant claims, located south of the Panuco project, expanding its exploration potential in the Panuco–San Dimas corridor. "Vizsla Silver to raise $100m for Mexican silver-gold project development" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
