11 January 2024
11 January 2024
The announcement was made at the Future Minerals Forum in Riyadh, Saudi Arabia.
Production at second largest copper mine in Canada is ‘well above’ targets
The first batch of separated oxides, specifically neodymium and praseodymium, is expected to be delivered in the coming weeks.
The initial cash purchase price is approximately $62.3m, with additional contingent consideration based on future events.
KEFI Gold and Copper (KEFI) is on track for a full project launch and funding drawdown in the first half of 2024.
The investment aims to extend the mine's life by accessing deeper diamond deposits.
The move is being criticised by environmental groups as deep-sea mining could put the biodiversity of ecosystems at risk.
The company is moving forward with the acquisition after completion of due diligence.
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The total number of underground mining trucks and loaders/LHDs in underground mines at the end of 2023 was estimated at 22,927, of which 19,718 were at active mines. GlobalData predicts that the highest growth in machine counts is expected in Oceania and Africa and the Middle East, supported by both new purchases from new mines entering production and replacements.
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