.jpeg)
1) Tesla is considering buying a lithium miner according to a report by Bloomberg. Tesla is looking at buying Brazil-based lithium miner, Sigma Lithium, which is currently valued at $3 billion. In 2020, Elon Musk teased that Tesla might be getting into the mining business starting with buying 10,000 acres of lithium claims in Nevada. The company also said that it patented a new way to extract lithium using salt from clay minerals. Tesla is also building a new plant outside of Corpus Christi, Texas that would be able to refine lithium. Bloomberg reported: The EV maker run by Elon Musk has been speaking with potential advisers about a bid, said the people, who asked not to be identified discussing confidential information. Sigma Lithium is one of multiple mining options Tesla is exploring as it mulls its own refining, one of the people said. Sigma Lithium has a large mining project within Minas Gerais State, Brazil, along a corridor known for having large lithium deposits.
2) According to Barrick's CEO Mark Bristow, Barrick Gold Corp is exploring the possibility of taking over Newmont's stake in its Nevada Gold Mines joint venture, after Newmont made a bid for Newcrest Mining. “I’ve always said that the best assets that we haven’t got are the other parts of our joint ventures,” Bristow told Reuters. “If there was a way of acquiring those assets, I think we would be desirous of acquiring them.” Nevada Gold Mines is a joint venture that is split between the operator Barrick owning 61.5% and Newmont owning 38.5% that was made in 2019 to create the largest gold-producing complex in the world. It is located in northern Nevada, with 6 mines located between Winnemucca NV and West Wendover NV. Mark Bristow also said that he wants to "build, not buy" as his growth strategy for the company, wanting to grow through exploration rather than acquisitions. Paying for acquisitions and trying to expand the "quick" way, puts a lot more risk on the company as it is betting on the price of commodities to increase such as gold or copper.