17 December 2024
17 December 2024
Top stories included Rio Tinto's approval of the world's biggest mining project, the merger of lithium companies Allkem and Livent, the US election, and more.
The operational environment in Mali has deteriorated, with Barrick employees unjustly imprisoned and gold exports halted.
The move comes more than 12 years after the company's operations were halted due to a catastrophic tailings dam disaster.
The loan aims to support the construction of the facility, which will produce synthetic graphite for electric vehicle (EV) batteries.
Hummingbird has been facing operational challenges at its Yanfolila gold mine in Mali and delays at the Kouroussa mine in Guinea.
The project is expected to face a delay of up to four months, with revised start-up set for the second quarter of 2025 (Q2 2025).
These projects align with Novo's strategic focus on 'drill ready' exploration targets with stand-alone development potential exceeding one million ounces (moz) of gold.
The capital will be allocated towards the estimated $40m (A$62.98m) capital expenditure (capex) for stage one development of the project.
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