Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF)’s commitment to the Global Industry Standard on Tailings Management is a positive step in light of past disasters unconnected to Anglo Asian, such as Vale’s Corrego de Feijao mine collapse in Brazil, said analysts at stockbroker SP Angel.
Led by the Church of England Pensions Board and the Swedish Council on Ethics, the GIS on Tailing Management was a response to the mine collapse, which resulted in the deaths of 270 people.
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) is facing the prospect of another bid after major shareholder Assore increased its stake to 28.4% yesterday.
Assore has already had two approaches to Atlantic at 33p a share rejected by the lithium group’s board but SP Angel believes this latest acquisition of shares heralds a new attempt.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) told investors that it has committed to implementing the global industry standard on tailings management (GISTM) at its operations in Gedabek, Azerbaijan.
These standards, which were established by the UN Environment Programme, the International Council on Mining and Metals and the Principles of Responsible Investment, aim to achieve zero harm to people and the environment.
Rainbow Rare Earths Limited said it hosted a US Congressional staff delegation at its Phalaborwa project in South Africa following the International Development Finance Corporation (DFC) commitment of $50 million of new investment in the operation.
The funding, announced at the COP28 United Nations Climate Change Conference on December 3, underscores the global push for responsibly increasing the production of metals vital for clean energy technologies.
Tirupati Graphite has raised £1 million gross through a private placing at 11p per share, a discount of 8.33% to the closing mid-market price yesterday.
In addition, directors and other creditors have agreed to take shares instead of fees and salaries totalling £623,000.
Ariana Resources PLC (AIM:AAU) said the strong gold price meant 2023 was one of the best years ever for revenue from its Kiziltepe operation in Turkey.
In total, the mine produced and sold 17,683 ounces, generating gross revenues of US$39.2 million at a gold price of US$2,218/oz (including silver credits) with the average gold price received US$1,945/oz.
Critical Minerals (CMR) was marked up 36% as it unveiled the acquisition of 26 new licences in Morocco, adding significant scale to a fast-growing portfolio of assets in the country.
CMR already has interest in the Anzar copper-silver project and the Zagora cobalt project, but the new licences take it into antimony, tungsten, lead-zinc and gold as well.
Critical Mineral Resources PLC (LSE:CMRS) (CMR) has acquired 26 exploration permits in central Morocco prospective for copper, antimony, tungsten, lead-zinc and gold.
CMR acquired the permits through the acquisition of local Moroccan group Hesperis Resources, with the licences situated in the Rabat, Beni-Mellal, Agadir and Errachidia administrative regions.
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) said new assays from San Domingo, Arizona, support its view that the Central area is a near-surface potential spodumene lithium resource.
New shallow lithium mineralised intercepts were encountered at the Central target area, with 90% of significant intercepts at less than 100 metres (m) depth, said the statement.
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) expects to increase production in 2024 by at least 10% after hitting its target of 85,000 gold ounces in the year just ended.
Output from the company’s flagship operation at Segilola in Nigeria was affected by lower grades and recoveries earlier in the year.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said it has restarted mining at the Gedabek mine in Azerbaijan, with flotation operations to resume in the second quarter of this year.
Production was halted during Autumn 2023 due to an environmental audit at its operations with an action plan agreed with the government in November.