SolGold shares dive despite raising $36m with Jiangxi backing
The miner is said to be at the centre of a bidding war between Jiangxi, China’s largest copper miner on the one side, and a possible BHP-Newcrest alliance on the other.
The project will help cut carbon emissions by 12% compared with 2020 levels at its Mt. Keith and Leinster nickel operations, where power is currently being generated through diesel and gas turbines.
The top-five western diversified miners may have earned a combined $85 billion for the first half of the year, according to analyst estimates, more than double the level from a year ago.
The Panguna mine was operated by BCL, majority-owned by Rio Tinto, for 17 years from 1972 until 1989, when operations were suspended due to an uprising against the mine and subsequent civil war.