While company denied media reports that it had sold Lumwana, it said that given the challenging conditions the mine was facing in Zambia, all options would have to be considered.
MOD also said it would raise about A$15 million via a share placement and rights issue, with the majority of the proceeds to be used to advance the T3 copper project in Botswana towards production.
Company has agreed to buy BHR Newwood DRC Holdings Ltd, a holding company set up by private equity firm BHR to buy a 24% stake in the Congo mine in 2017.
General Franklimberg Ribeiro de Freitas’s return to the country’s Indigenous Rights Agency (Funai) is seen by many as positive, as the agency has lost funding and authority on land issues.
Based on answers from 51 senior executives, lawyers White & Case say that trade tensions are the second largest challenge for the mining industry in 2019 and reveal what the underlying full-picture looks like.
The funds will enable the company to expand activities in south-west England and to drill exploratory boreholes to extract samples of lithium-bearing brines.