Mining Technology

2 days ago | mining-technology.com | Tiash Saha

Sumitomo Metal Mining (SMM) has signed definitive agreements with Rio Tinto to acquire a 30% interest in the latter’s Winu copper-gold project in Western Australia’s Great Sandy Desert. Under the agreements, SMM will invest up to $430.4m (Y63.65bn) for its share, including $195m upfront and up to $235.4m in deferred considerations based on future milestones. Post-transaction, Rio Tinto will retain a 70% share and operate the project.

2 days ago | mining-technology.com | Tiash Saha

Australian pension fund HESTA has divested its remaining shareholding in mining services provider Mineral Resources (MinRes), citing unresolved governance concerns and a lack of confidence in the company’s ability to implement necessary changes. HESTA’s stake in MinRes is valued at approximately A$14m, reported Reuters. The decision follows the abrupt resignations of three directors in April, who were part of the ethics and governance committee established in November 2024.

2 days ago | mining-technology.com | Tiash Saha

Pan American Silver has signed a definitive agreement with MAG Silver to acquire all its issued and outstanding common shares via a court-approved plan of arrangement for a total consideration of approximately $2.1bn. Under the transaction, MAG shareholders will receive $500m in cash from Pan American’s $923m cash balance and 0.755 Pan American shares for each MAG share.

2 days ago | mining-technology.com | Tiash Saha

The US Department of the Interior has announced that it will accelerate the environmental permitting review for Anfield Energy’s Velvet-Wood uranium and vanadium mine project in San Juan County, Utah. The project is being fast-tracked under emergency procedures established in response to the national energy emergency declared by President Donald Trump on 20 January 2025.

3 days ago | mining-technology.com | Tiash Saha

Chrysos Corporation has secured a master services agreement (MSA) with Newmont for the adoption of its PhotonAssay technology in the latter’s gold mining operations. This technology is expected to transform gold, silver, copper and other elemental analysis with its rapid and environmentally friendly approach.