.jpeg)
1) Lundin Mining is in talks with potential partners for a copper deposit in Argentina as the projected demand for the metal is set to sky rocket in the coming years. Lundin is looking for financing for the Josemaria project in San Juan province and could sell a majority stake to a senior mining company or a minority stake to a Japanese trading house, according to Peter Rockandel, the CEO. “People will appreciate that this acquisition does immediately enhance our free-cash flow, which will be beneficial to us long term,” he said. “This will at least afford us the time to further the studies at Josemaria and make the appropriate decision at the appropriate time."
2) BHP has signed a memorandum of understanding with China Copper and Daye Nonferrous, two of China's major copper producers. The venture will and explore developing technology and innovations for copper smelting and refining. It is an opportunity to leverage expertise to develop more sustainable copper value chains with the goal of reducing the environmental footprint. “As two of the leading copper producers globally, China Copper and Daye Nonferrous are actively pursuing initiatives that aim to support China’s sustainable development and decarbonization goals,” said Vandita Pant, BHP chief commercial officer. “BHP is proud to be a part of this collaboration and believes our joint efforts will expedite the course towards more sustainable and responsible supply of copper to support the world’s energy transition," added Pant.
3) Jervois halts construction at its Idaho Cobalt Operations (ICO) due to falling cobalt prices and inflationary impacts on the construction costs. The company said that it believes that cobalt prices will recover in the medium term as Western cobalt purchasers will want to source from producers with Western environmental and social governance credentials and Jervois will complete the construction and commissioning of ICO when the cobalt prices recovered. Jervois will immediately start demobilization of construction contractors from ICO, which will reduce the workforce from about 280 to under 30, which will maintain the site within its regulatory requirements. In the meantime, the company has applied for funding from the US Department of Defense to increase drilling and expand the mineral resource and reserve.