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Boliden to acquire 64.7% stake in Nexa Resources from Votorantim

2026-08-27

Boliden, the Swedish mining and smelting giant, has entered into an agreement with Votorantim to acquire its 64.68% stake in Nexa Resources for an implied consideration of $1.31 billion. This strategic transaction, valuing Nexa shares at $15.29 each, aims to establish Boliden as a global leader in zinc production and significantly expand its operational footprint across Europe and Latin America. The deal, expected to close in the first quarter of 2027, will consolidate 12 mines and eight smelters under Boliden's expanded portfolio, while Nexa continues as a separately listed entity on the NYSE.

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Recent Articles

Forrestania awards $104m Johnson Range mining contract to MEGA

2026-08-28

Forrestania Resources has awarded a substantial A$145 million (approximately $104.2 million USD) open-pit mining contract for its Johnson Range Project in Western Australia to MEGA Resources, marking a pivotal transition from the planning to the execution phase. This two-year agreement, announced on August 28, 2026, encompasses all critical mining activities from drilling and blasting to ore haulage and infrastructure development, solidifying a strategic partnership between the two entities. The selection of MEGA, following a competitive tender, underscores its proven operational capabilities and commitment to safety, performance, and integrated mining solutions.

Cyclic Materials raises $75m to expand rare earth production in US

2026-08-28

Cyclic Materials has secured $75 million in a strategic financing round, bringing its total equity funding to $237 million, to accelerate its domestic rare earth recycling initiatives. This capital infusion, led by accounts advised by T. Rowe Price Associates, will expedite the development of its integrated recycling campus in South Carolina and expand its "Hub-and-Spoke" infrastructure across the United States. The expansion is critical for boosting US capacity in recycling rare earths and other essential minerals, aligning with national security priorities to strengthen domestic supply chains for vital industries.

Weir targets mill circuit wear as miners push for higher throughput

2026-08-27

Weir PLC has launched the WARMAN MCR² mill circuit pump, featuring eight patented technologies to address the increasing complexities of mineral processing. Introduced on August 27, 2026, the pump integrates advancements in hydraulics, wear management, serviceability, and condition monitoring, aiming to extend operating campaigns and enhance predictability in demanding mining environments without requiring significant infrastructure changes. This innovation is poised to help miners improve throughput and manage costs as they process more challenging ore bodies globally.

WA Government and YNAC appeal Fortescue compensation ruling

2026-08-27

The Western Australian Government and the Yindjibarndi Ngurra Aboriginal Corporation (YNAC) have lodged separate appeals against a Federal Court ruling from May 2026, which ordered Fortescue Metals Group to pay A$150.3 million ($107.9 million USD) in compensation for iron ore mining activities conducted without a native title agreement. This landmark decision, considered one of the largest under Australia’s native title laws, now faces scrutiny from both the Indigenous group, seeking a higher amount, and the state government, advocating for clearer legal frameworks for future agreements. The appeals underscore the complex and evolving landscape of native title in Australia's vital mining sector, with significant implications for industry operations and Indigenous rights.

US EXIM issues $1.1bn project letter for Ivanhoe Electric copper project

2026-08-26

Ivanhoe Electric has secured a preliminary project letter from the U.S. Export-Import Bank (US EXIM) outlining $1.1 billion in potential debt financing for its Santa Cruz Copper Project in Arizona. This substantial support, part of US EXIM’s Make More in America Initiative, aims to bolster domestic copper production and secure critical mineral supply chains. The project intends to produce 99.99% pure copper cathode over a 23-year operational lifespan, utilizing advanced heap leach technology.

Lithium Argentina, Ganfeng sign agreements to finalise PPG JV

2026-08-26

In a significant move for the global lithium sector, Lithium Argentina and China's Ganfeng Lithium have finalized definitive agreements to establish the Pozuelos-Pastos Grandes (PPG) joint venture in Salta Province, Argentina. This collaboration, set to create an ambitious 150,000 tonnes per annum (tpa) lithium carbonate equivalent (LCE) operation, includes a $180 million convertible note investment from Ganfeng into Lithium Argentina, fortifying the latter's balance sheet and extending its debt maturity profile. The JV consolidates key brine assets into a single basin-wide development, signaling a strategic acceleration of lithium production in the renowned "lithium triangle."

DOE and SBA Launch SBIC-E Initiative to Unleash Private Capital for American Innovation and Small Businesses

2026-08-25

The U.S. Department of Energy (DOE) and the U.S. Small Business Administration (SBA) have launched the Small Business Investment Company-Energy (SBIC-E) Initiative, a new strategic partnership designed to channel private capital into American small businesses critical to energy production, national security, and domestic manufacturing. Signed on August 24, 2026, this memorandum of agreement leverages the SBA's established SBIC Program to fund innovative technologies, with a significant focus on critical minerals, advanced manufacturing, and advanced materials, offering a new avenue for growth within the mining sector.

Metso to acquire hose and cavity pumps business from Valmet

2026-08-25

Metso announced on August 24, 2026, its agreement to acquire Valmet’s peristaltic hose pump and progressive cavity pump businesses, including associated aftermarket services, with the transaction expected to close on October 1, 2026. This strategic acquisition, aimed at enhancing Metso's comprehensive slurry handling solutions for the mining and industrial sectors, will integrate the Flowrox-branded technologies into Metso's pumps portfolio, relocating production and personnel to Lappeenranta, Finland. The move underscores Metso's commitment to delivering robust, end-to-end solutions for demanding process conditions globally.

Peako to launch UAV magnetic surveys across five Saudi projects

2026-08-25

Peako is set to initiate advanced unmanned aerial vehicle (UAV) magnetic surveys across five critical gold exploration targets within its Saudi Arabian licenses, beginning August 24, 2026. This comprehensive geophysical program, covering 54 square kilometers with 1,400 line kilometers, is designed to enhance geological models and refine drill targets ahead of the company's inaugural drilling campaigns in the Kingdom, scheduled to commence in October. The high-resolution data collection aims to build upon promising historical intercepts and surface sample results at sites like Sukhaybarat South, Wadi Jarir, and Jabal Jumaymah.

Energy Department Announces $500 Million Award to Revitalize American Steelmaking

2026-08-24

The U.S. Department of Energy announced a $500 million award to Cleveland-Cliffs' Middletown Works facility in Ohio, bolstering a $1 billion investment to modernize domestic steel production. This strategic funding, highlighted by Vice President JD Vance and Energy Secretary Chris Wright, is set to protect 2,300 American jobs and fortify the nation's critical steel supply chain. The project pivots from an initial "green premium" focus to upgrading the existing coal-fired blast furnace, deploying AI for efficiency, and commercializing blast furnace gas, reflecting a pragmatic approach to strengthening American manufacturing.