Aurubis delivers strong quarterly earnings, optimistic on outlook

Newly renamed M2 Cobalt snags seven licences in Uganda covering 1,500 square kilometres as investors bet cobalt price rally will continue.

Chile-focused miner also expects costs to rise on tailings dam expenditure.

Proceeds from the private placement and financing will be used for exploration and development of the junior miner’s projects in Colombia and Nicaragua.

Big mining companies, restored to health following the 2015-16 price crash, are seeking to rationalize their portfolios and acquire assets in line with heightened focus on the best quality minerals and anticipated demand for battery materials.

An estimated 40.5 million people were directly engaged in ASM last year, up from 30 million in 2014, 13 million in 1999 and only 6 million in 1993.

The parties have agreed not to release the transaction price.

Indian commodities billionaire said the rally in Anglo American Plc vindicated his personal bet in the mining group.

Mine is on track to produce its target of 700,000 ounces of gold in 2018.

The new unit, under Mongolian leadership, will focus on exploration and local ties.