Electric car sales could reach around 17 million in 2024, accounting for more than one in five cars sold worldwide, according to the International Energy Agency (IEA). However, despite several years of significant cash flows driven by high prices and increasing volumes, many producers of the minerals essential for EVs are now encountering difficulties in financing both existing and new projects solely with their own revenues. In its recent Global EV Outlook 2024, IEA highlights the necessity of external sources to support large-scale capital expenditure in mining projects, however miners Albem ..read more

Glencore’s (LON: GLEN) semi-successful attempt to buy Teck Resources (TSX: TECK.A, TECK.B)(NYSE: TECK), Canada’s largest diversified miner, appears to have been just the beginning of a new wave of major mergers and acquisitions in the natural resources sector.  Now is BHP (ASX, LON, NYSE: BHP), the world’s largest miner, which has taken the lead, surprising markets with a £31.1 billion ($39 billion) unsolicited bid for Anglo American (LON: AAL).  An electrified world has become increasingly dependent on battery metals, particularly on copper, and BHP is, not surprisingly, eager to se ..read more

Teck Resources (TSX: TECK.A, TECK.B)(NYSE: TECK), Canada’s largest diversified miner, saw its copper production jump by 74% in the first three months of the year, thanks mainly to the ramp up of the extension at its Quebrada Blanca (QB) mine in Chile. The Vancouver-based miner churned out 99,000 tonnes in the first quarter, with QB producing 43,300 tonnes. QB2, as the new area of the mine is known, began production three years after originally planned, due to weather and covid-19 construction disruptions. In the process, the key growth project saw costs balloon. Teck n ..read more

Lundin Gold (TSX: LUG) has negotiated a deal with Newmont to buy out the remaining stream credit facility and offtake agreement for its 100% owned Fruta del Norte mine in Ecuador, relieving the company of its debt obligations to the world’s biggest gold miner. Newmont will receive $330 million, payable in cash, as part of the buyout package. This will be paid in two tranches: a first payment of $180 million due on closing (June 28, 2024), and a final payment of $150 million before the end of Q3 2024. The Newmont stream facility was repayable in variable monthly instalments equivalent to the va ..read more

Researchers at the US Department of Energy’s Pacific Northwest National Laboratory have developed a method for selectively recovering manganese, magnesium, dysprosium, and neodymium from spent electronics. Using a simple mixed-salt water-based solution and their knowledge of metal properties, the team was able to separate critical minerals in continuously flowing reaction chambers. The method, detailed in two complementary research articles and presented at the 2024 Materials Research Society (MRS) Spring Meeting in Seattle, is based on the behaviour of different metals when placed in a c ..read more

The first phase of drilling this year at Generation Mining’s (TSX: GENM) Marathon palladium-copper project in northwestern Ontario has expanded mineralization by 150 metres from the closest previous hole, revealing higher copper grades. The company is pursuing a multiphase program at the 260-sq.-km Marathon property, with contractor Boart Longyear drilling 8,000 metres on priority targets at the Biiwobik prospect to better define the extent of the Powerline and Chonolith domains. The work will help determine the potential to expand the deposit or develop a fourth pit, or even to extend the min ..read more

American Battery Technology (NASDAQ: ABAT) has updated the initial assessment for its Tonopah Flats lithium project near the town of Tonopah, Nevada, midway between Las Vegas and Reno. The company has been exploring the property since 2021. The initial assessment was done in December 2023, and the current study is an update. However, American Battery does not say the studies conform to National Instrument 43-101 definitions. Rather, the figures comply with the US S-K 1300, which the company says is “similar to a preliminary economic assessment”. Site visit: Unearthing the lithium ‘gold rush ..read more

Integrated Power Services (IPS) is acquiring the assets of ABB’s industrial services business. The acquisition brings to IPS five well-equipped electric motor, generator, mechanical, switchgear and circuit breaker service centers in Edmonton, Alberta; Burlington, Ontario; Arizona; Indiana; and North Carolina. The ABB business offers high-quality repair and field service capabilities for electric motors up to 50,000 hp (37,285 kW) and low and medium-voltage switchgear equipment from 480 V to 15 kV. Additionally, the service centers perform rotating equipment repair services for pumps, compresso ..read more

Power Nickel (TSXV: PNPN) increased its ownership of the Nisk project to 80% from Critical Elements Lithium (CRE: TSXV) and reported new drill results from a polymetallic zone. The filing of a resource estimate in November qualified Power Nickel for 30% more in the project to conclude the earn-in agreement, the company said on Wednesday. New assays from the Lion zone have buoyed the project with strong copper, platinum and palladium mineralization, CEO Terry Lynch said in a release. Shares in Power Nickel have soared nearly 60% since it reported the first Lion drill results on April 15. The st ..read more

Energy Exploration Technologies (EnergyX) announced Wednesday it has appointed Allen Satterwhite as its new president.  Satterwhite joins the company from Chevron, where he spent close to 30 years of his career. He was most recently president at Chevron Pipeline & Power within the global leadership forum of Chevron, one of the largest Fortune 500 companies in the world.  Prior to that, Satterwhite served as SVP of Asset Development for Chevron’s entire IndoAsia Business Unit, VP of Heavy Oil for IndoAsia Business Unit, VP of Finance & Planning for Chevron’s Natural Gas busine ..read more