Rio Tinto commissions new conveyor at Canadian smelter

Liontown Limited (ASX: LTR) has signed an offtake agreement for 150,000wmtpa of spodumene concentrate with world-leading lithium manufacturer Canmax Technologies.The agreement assures the supply of spodumene concentrate over 2027 and 2028 from Liontown’s Kathleen Valley project in WA.

PERTH-based miner Sundance Resources has raised $40 million from Noble Resources and an investor consortium to proceed with its Mbalam-Nabeba iron ore project in Cameroon and the Democratic Republic of the Congo. As part of the deal, Noble will invest $20 million though unsecured convertible notes, at a 10 per cent interest rate, which can be converted into a 30 per cent stake for a future marketing firm for the project. Noble will also receive 200 million options, excisable at 12 cents a share if the marketing firm does not proceed. The investor consortium – comprising Blackstone, the DE Shaw Group and Senrigan – would invest the other $20 million through a convertible note issue, which could later be used...

THE Mongolian Government is set to repeal a controversial law restricting foreign ownership in ‘strategic sectors’, following a 43 per cent decline in foreign direct investment. The Strategic Entities Foreign Investment Law (SEFIL), established in May 2012, targeted ‘strategic’ industries including mining, finance, and media and telecommunications. The law required foreign investors to seek government approval for acquisitions of more than 33 per cent equity, while acquisitions of more than 49 per cent equity required parliamentary approval. State-owned firms also required approval to obtain interest in any ‘strategic’ assets. Director of the Foreign Investment Regulations and Registration Department of the Ministry of Economic Development Sereeter Javkhlanbaatar told media a new law would seek to quell concerns about investor limitations, particularly...

Keep the Fire Burning: MinRes 2024 NAIDOC Week Mineral Resources (ASX: MIN) celebrated 2024 NAIDOC Week with a range of cultural activities across its sites and local communities. This year’s theme was Keep the Fire Burning! Blak, Loud & Proud, and employees and the community were invited to engage in dialogue about the stories, traditions and achievements of Aboriginal and Torres Strait Islander communities. Across its regional sites, teams recognised NAIDOC Week with Welcome to Country events, flag raising and smoking ceremonies, sports and social events as well as live performances by local Aboriginal musicians. At its Perth head office, an...