A look back at some of the news from London-listed mining stocks
Bushveld Minerals Limited (LON: BMN) has doubled its vanadium processing capacity in South Africa with the acquisition of Vanchem for US$68mln.
Fortune Mojapelo, chief executive, said the deal cements Bushveld’s position as a leading global vanadium producer.
An initial shipment of five tonnes came from the Mountain of Light processing facility.
John Peters, managing director, said: “This first sale of high-grade copper concentrate, in the form of cement, firmly establishes LCCM as SML’s second cash generating project.”
Newcrest has the right to acquire up to a 70% interest in a 12-block area by spending up to US$65mln.
AIM-quoted Galileo said the acquisition means discussions can now begin with Jubilee over an off-take agreement to supply ore mined from its Star Zinc operation and other potential ore sources nearby.
In total, the facility processed 364,176 dry tonnes in 2018 at a feed grade of 1.24% copper and 0.57 g/t gold.
The company only joined the standard segment of the London Stock Exchange at the end of July, but it has already achieved “several significant milestones”, said chief executive Michael Foster.
A field camp has also been set up for 14 people conducting or supporting field activities. ABM said termite mound sampling continued and further updates on progress are planned.
Kore Potash PLC (LON:KP2) has switched tack in the Republic of Congo to a smaller potash project at the Dougou Extension (DX) site.
Until now, Kore Potash had focused on the much larger Kola project, but said it would require substantially lower investment to get DX up and running.
During the March quarter, the company received the approval to finalise the reinstallation of mine services including ventilation infrastructure.
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