Britain’s last remaining coal-fired power station is set to close later this month, bringing an end to the nation’s 142-year reliance on the fossil fuel to create electricity.
Ratcliffe-on-Soar, owned by German-based Uniper, is due to fire up for the last time on September 30, having served as Britain’s final coal power station since September 2023.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) shares rose almost 5% after it said "significant progress" has been made on two of the conditions needed to complete its acquisition from Newmont Corporation (NYSE:NEM, TSX:NGT, ASX:NEM).
Two weeks ago the AIM-listed company struck a US$475 million deal to acquire a 70% ownership interest in the Havieron gold-copper project, 100% ownership of the Telfer gold-copper mine, and other related interests in assets in the Paterson region, subject to certain conditions.
Gold prices remained well on the way to the US$2,700 per ounce mark on Thursday as a new record high was struck.
Gold sat at US$2,675 as of late morning, having climbed by another half a per cent during the day.
Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) said tin production from its Uis mine in Namibia was steady in its latest quarter helped by improvements in both recoveries and plant utilisation.
Contained tin production in the three months to end August 2024 was 239 tonnes (238t) with the quarter also seeing realised tin prices bouncing 27% to US$31,937 a tonne.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said it is ramping up to full production after receiving authorisation to raise the tailings dam wall at the Gedabek mine.
Construction of the new wall started on 6 August 2024, with the mine now moving towards normalised production again, according to the gold and copper miner.
Kodal Minerals PLC (AIM:KOD) said it has pushed the first lithium production from its Dense Media Separation (DMS) processing plant at Bougouni in Mali into 2025 after recent heavy rainfall.
The project remains within its US$65 million project development budget despite the minor schedule delays, Kodal added.
Panthera Resources PLC (AIM:PAT) said it has completed its latest drilling programme at the Bido project in Burkina Faso.
Some 2,483 metres of reverse circulation (RC) drilling was carried out at the Beredo-Kiekouyou and Somika Hill. (Kaga vein system) prospects on the licence.
Ariana Resources PLC (AIM:AAU) has appointed Ord Minnett as Lead Manager to its proposed dual-listing on the Australian Securities Exchange, which it expects to complete by the end of the 2024 calendar year.
The proposed ASX listing will provide investors in Ariana exposure in a market that understands and supports small-to-medium-sized gold explorers, said its statement.
Ora Banda Mining Ltd (ASX:OBM) has adjusted the remuneration arrangements for managing director Luke Creagh, and extended his contract agreement for a further five years to June 30, 2030.
The company advises that following “the significant improvement in the performance and financial viability of the company since the appointment of Creagh to the position of CEO/managing director in July 2022, Ora Banda has determined to bring Creagh’s remuneration package in line with market.”
Gold prices hit yet another peak on Wednesday, seeing the yellow metal break its own record for the 25th time this year.
Having peaked at US$2,671 per ounce, gold set its latest record earlier on Wednesday, with prices coming to settle at US$2,665 for a 0.7% gain by the afternoon.
Whitehaven’s Narrabri coal mine has received permits for its Stage 3 expansion, triggering a US$5 million payment to Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF), notes Peel Hunt.
Payment will be made in instalments, the broker believes, which says the development is a marginal positive for Ecora, adding additional cash flows from the Narrabri disposal "that we believe are not included in consensus estimates for the group".
AngloGold’s bid for Centamin has underlined the value in Africa-focused gold miners says broker Panmure Liberum, which predicts more M&A activity in the sector
“AngloGold’s offer for Centamin is just the latest in a global trend that we expect to continue for the foreseeable future,” said the broker.
Fortescue Ltd (ASX:FMG), the world’s fourth largest iron ore miner, has agreed to buy US$2.8 billion worth of battery-electric trucks and diggers to replace over half its fleet.
It signed a partnership with German-Swiss equipment manufacturer Liebherr to jointly develop technology that "paves the way for carbon-free mining".
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) has signed off a royalty financing and share subscription agreement with Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) for the Phalaborwa project in South Africa.
All conditions precedent required for the payment of the US$8.5 million royalty consideration have been met, Rainbow added, and the funds, net of US$229,000 transaction costs, have been received.
Anglesey Mining PLC (AIM:AYM) said it has raised £220,000 through a direct subscription of stock, issuing 22 million ordinary shares at a penny each.
It stated that the proceeds would be used to progress its corporate and operational strategy. Specifically, they will support work at the Parys Mountain project in Wales and advance development options at the Grängesberg Iron Ore Mine in Sweden.
Technology Minerals PLC's (LSE:TM1) 48%-owned, Wolverhampton-based subsidiary Recyclus has completed a project to recycle 4,000 lithium-ion (Li-ion) battery modules from electric vehicles.
Recyclus carried out the 10-week recycling programme with a leading engineering services and technology company.
Empire Metals Ltd (AIM:EEE) has started work on environmental impact assessment studies for the Pitfield titanium project in Western Australia.
Ecology (fauna and flora) and baseline dust monitoring are the first of several studies to be initiated and are key for the permitting and development of the project, said Empire.
Global equities climbed to a new high on Tuesday after China revealed a string of measures overnight aimed at reinvigorating the world’s second-largest economy.
The MSCI World index, the acknowledged proxy for equity markets globally, climbed 0.3% to hit a new record on Tuesday on the back of the measures, which will see interest rates and banks’ cash reserve requirements cut.
Gold prices are on course to rise even further, analysts at UBS said, after yet another record high was reached on Tuesday.
Gold had climbed to a new high of US$2,642 on Tuesday morning, after breaking its own record twice on Monday, with the rise following the Fed’s 0.5% base interest cut last week.
The unveiling by China of a new economic stimulus package overnight sent London-listed shares in miners and Asia-focussed stocks upward on Tuesday, as well as boosting overall global market sentiment.
Aimed at lowering borrowing costs and reducing restrictions on lending, the People's Bank of China said short-term interest rates and cash reserve requirements would be cut.
Corcel PLC (LSE:CRCL) share price dropped, losing around 16%, as the company announced a £1.22 million equity raise at the same time as its exposure to Block KON-16, in Angola, increased.
Corcel subsidiary Atlas Petroleum Exploration Worldwide Limited (APEX) saw its stake in the project increase by 20% to 55%, after a partner withdrew from the project – Corcel incurred no additional cost to acquire the project stake.
European Green Transition PLC (AIM:EGT) revealed it had a cash position of £4.9 million at its June half-year period, after listing on AIM in April.
After raising £6.5 million gross in the IPO, the company said its cash balance provides capital to implement its strategy of targeting revenue or near-revenue stage green economy assets.
Technology Minerals PLC (LSE:TM1) told investors that it won’t proceed with its proposed merger with battery recycling business Recyclus Group Ltd at the current time.
The companies said the decision was ‘because of the reverse takeover re-admission requirements of the London Stock Exchange’.
Rome Resources Plc (AIM:RMR, AIM:RMR) said it now has three drill rigs active on its tin and copper prospects on the DRC following the completion of its reverse takeover in July.
The exploration timeline anticipates enough drilling data will be gathered before the end of 2024 to undertake a resource assessment, it said in a statement alongside results for the six months to end June 2024.
Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) said on-ground drill site preparations are now underway for its 2024 drilling programs at Rim Rock and Groundhog mine areas in the US, with drilling scheduled to commence in early October.
At both sites, infill drilling will follow up the high-grade uranium and vanadium mineralisation intercepted in recent programmes.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) has published an independent maiden JORC mineral resource estimate (MRE) for its Garadag copper deposit in Azerbaijan.
Carried out by Mining Plus UK, the total resource (Indicated and Inferred categories) is approximately 900,000 tonnes of copper metal hosted in 285 million tonnes of mineralisation with average grades of 0.32%.
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has taken part in the inaugural 2024 MINVEST/Minerals Security Partnership (MSP) Finance Meeting, held during the United Nations General Assembly in New York on September 23, 2024.
The event was co-organised by the US Department of State and the SAFE Center for Critical Minerals Strategy and was aimed at fostering the development of sustainable and diverse critical energy minerals supply chains.
The gold price ticked up to yet another record on Monday as purchasing managers index (PMI) data provided the latest boost for the safe haven asset.
Come the afternoon, gold climbed as high as US$2,634 per ounce and above the record set earlier in the day.
Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF)'s highly-anticipated operations update for its Vares silver operation sent its share price up 9% to 186p today.
Broker Stifel noted the update indicated a significant increase in tonnes mined during August and September as the first stope was brought into production.
Shares in Vast Resources PLC (AIM:VAST) fell 22% to 0.08p after providing an update on its finances, saying it has begun "alternative measures" for settling its outstanding debts and to provide additional short-term working capital.
This is because of what it admitted was uncertainty around the plans for a £5.8 million debt to A&T Investments, known as Alpha.
Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) achieved record production in August from the Vares project in Boznia & Herzegovenia as the first stope came on stream.