Fortuna cuts down debt using cash generated from Séguéla mine
The Canadian precious metals miner has paid down an additional $41 million in debt using cash on hand.
The Canadian precious metals miner has paid down an additional $41 million in debt using cash on hand.
The country also announced a $182 million mineral exploration incentive program.
The Falchani project, located in southern Peru, is awaiting government approval of an early environmental permit study.
Ivanhoe Electric is part of a growing number of international mining companies investing in Saudi Arabia.
The project will produce lithium carbonate equivalent (LCE) for the battery market over a 23-year period.
About 10% of the increase in estimate comes from the addition of rare earths minerals.
The discount hit a record high of $108 a metric ton on Jan. 8.
The Sydney-based gold miner will dismiss 401 workers at its Modder East operations.
CME's lithium hydroxide contract is cash-settled, therefore easy to use as hedgers do not need to worry about taking delivery of unsuitable grades.
Junior producers have been particularly hard hit.