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25.10.2021 (445 Clicks)

Glencore and Cheniere Sign Long-Term LNG Sale and Purchase Agreement

Glencore announce that one of its subsidiaries and Cheniere Marketing, LLC (“Cheniere Marketing”) have entered a binding liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”).

25.10.2021 (378 Clicks)

Metso Outotec expands Lokotrack mobile Series for Processing Aggregates

Metso Outotec is launching two new models to the Lokotrack® mobile crushing and screening series. The new Lokotrack LT200HPX and Lokotrack LT220GP mobile cone crushers are compact but efficient units ideal for aggregate contractor customers, bringing up to 30% more capacity and added flexibility compared to earlier models.

25.10.2021 (393 Clicks)

Akobo Minerals paves the Way for a resurgent Ethiopian Mining Industry

Akobo Minerals paves the Way for a resurgent Ethiopian Mining Industry clearing a major Hurdle for Investors being granted the Right to hold and repatriate foreign Currency from Offshore Accounts.

On the 30th of September, Akobo Minerals and the Ministry of Mines (MoM) entered into an agreement governing the future mining of the Segele project, and also opening up the Ethiopian mining sector by agreeing to the right to hold foreign currency on offshore accounts, and to repatriate profits from the same accounts. This has been the most difficult hurdle in attracting international investors to Ethiopia’s mining sector. Akobo Minerals is very proud to have been able to work closely with the MoM to make this possible.

The agreement covers vital aspects of the mine development and operation. In addition to other rights and obligations, Akobo Minerals has secured new terms which promote valuable investment partnerships with Ethiopia, including:

• The right to hold proceeds from sale of gold in overseas USD bank accounts
• The right to freely repatriate profits from overseas USD bank accounts
• The right to a 5 year Mining Licence covering 16 square kilometres of the Segele mineralisation and other promising targets - extendable in 10 year increments
• Key clauses include
• Begin development and production programmes within 60 days and 15 months respectively
• Right to sell gold freely in international markets
• Payment of 5% Royalty to the Federal Government
• Payment of 7% free carried interest in the mining project

Akobo Minerals would like to congratulate H.E. Eng Takele Uma (Minister for Mines) in his mission to transform the Ethiopian mining sector into a competitive, proactive and attractive sector for international investments. By creating more transparency and supporting law abiding investors whilst also implementing new international standards making it easier to repatriate profits for mining and companies, the Ethiopian mining industry is now on track for a bright future.

Chief Executive Officer, Jørgen Evjen said: “I am impressed by the changes seen with the Ministry of Mines over the last year, transformed into a partner open to find good solutions. Probably the most important hurdle for opening up the mining sector in Ethiopia has now been solved by introducing international mining standard for repatriation of profits, and also to seek competitive terms and conditions compared to other neighbouring countries.”

As part of the Mining Agreement, the company has committed to develop the Segele Mine in-line with the plans released previously (see press release, 27th September 2021). Akobo Minerals has a drilling program underway to extend the known mineralisation and in line with this, the mining agreement provides the right to extend the mining licence upon continued economic viability of the mine and fulfilment of all legal and contractual obligations.

As is normal for mining licences, the Ministry retains the right to withdraw the mining licence upon failure to perform as pursuant to Ethiopian Law.

About Akobo Minerals

Akobo Minerals, is a Norway-based gold exploration company, currently with ongoing exploration and small-scale mine development in the Gambela region and Dima Woreda, southwest Ethiopia. The operations were established in 2009 by people with long experience from the public mining sector in Ethiopia and from the Norwegian oil service industry. Akobo Minerals holds a mining licence and an exploration license over key targets in the area. Economic mineralisation was discovered and the company is engaged in mining studies to advance the project to production, alongside exploration core drilling. Akobo Minerals is transforming its organisation to support an increased pace of core drilling. At both the key targets Segele and Joru the company has so far released exceptionally high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t. A scoping study for Segele includes an up-front capital expenditure of USD $8m and all-in sustaining cost of USD $243 per ounce of gold produced. Core-drilling and trenching at Joru have intersected both high-grade gold zones and large wide zones near surface. The company has an excellent partnership with national authorities and places ESG at the heart of its activities - a ground-breaking community program is being planned.

Source: Akobo Minerals

                     

22.10.2021 (406 Clicks)

Saskatoon Freeway Functional Planning Study – Update (Phase Two)

Shaping the future of transportation by combining traditional engineering with innovative digital technologies to deliver sustainable solutions.

22.10.2021 (432 Clicks)

Autonomous Hauling System for increased Productivity in Boliden Aitik in Sweden

Boliden has decided to introduce an Autonomous Hauling System, Komatsu Frontrunner, on eleven haul trucks in the Aitik mine. The investment is for a total of SEK 218 m and will be fully implemented during 2024.

21.10.2021 (454 Clicks)

The Industry is looking forward to bauma 2022

• bauma exhibitors see the safety and hygiene concept for themselves at IAA Mobility
• Conclusion: Trade fairs can also take place under coronavirus conditions
• Industry continues to see bauma as THE platform
• bauma 2022 focusing on current challenges with five trend topics

21.10.2021 (446 Clicks)

Bauer Spezialtiefbau installs Foundation Piles for new Office and Administration Building in Dortmund

The site of the former blast furnace plant Phoenix-West in the district of Hoerde, Dortmund, is now home to the 115 ha technology and service location Phoenix West. Construction of a new four-story office and administration building for the transmission system operator Amprion GmbH is currently underway on Robert Schuman Strasse.

20.10.2021 (546 Clicks)

Voith Turbo: New App for Hydrodynamic Coupling

There are more than a million hydrodynamic couplings from Voith in operation worldwide. In numerous heavy industry sectors like mining, petrochemicals, steel or thermal power plants, they ensure a gentle startup of equipment and machines and at the same time protect them from possible damage even under extreme conditions. With the new TurboGuide Mobile, Voith has developed an app with an intuitive interface for the efficient and comprehensive management of constant-fill fluid couplings.

19.10.2021 (447 Clicks)

Filo Mining announces the Appointment of Phil Brumit to its Board of Directors

Filo Mining Corp. announces the appointment of Mr. Phil S. Brumit Sr. to its Board of Directors. Mr. Brumit brings extensive natural resource development and operational experience to the Company.

18.10.2021 (433 Clicks)

Metso Outotec to deliver Grinding Mills and Thickeners to a Nickel Plant in Indonesia

Metso Outotec has been awarded a contract for the delivery of several horizontal grinding mills and thickeners to a greenfield nickel project in Indonesia.The value of the order is approximately EUR 24 million, and it has been booked in Minerals’ Q3/2021 orders received.