24 January 2024
24 January 2024
The miner posted an almost 50% reduction in its December quarter metallurgical coal output.
The company executed legally binding agreements with PT SEA First Nickel Industry (PTSFNI) to secure the finances.
The purchase by staking positions the company as a first mover in exploring sediment-hosted copper deposits in an emerging belt.
The project, which will cost nearly $2bn (C$2.69bn), is said to elevate Lumwana to the ranks of the world's leading copper mines.
The toll-milling agreement allows processing of up to one million tonnes of ore per year throughout the project's life of mine (LOM).
More than 450 companies are allegedly involved in ‘Ponzi’-like schemes that could potentially damage ecology.
The facility is designed to support the mine through to its first coal production.
Additionally, Steppe Gold has agreed to grant Boroo PL certain registration rights.
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