International news within the industry of mining and metal, Apr, 24 2019
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Australian miner to acquire Alaska gold mine under $260M deal

Photo: Northern Star
Photo: Northern Star
Published by
Jaroslaw Adamowski - 31 Aug 2018

Foreign acquisition Australia’s Northern Star Resources has an-nounced it is acquiring the Pogo underground gold mine in Alaska, in the U.S., for some US$260 million. The company will take over the 4.1 million oz mine from Sumitomo Metal Mining and Sumitomo Cor-poration.

"The Transaction is subject to minimal conditions and is expected to close in October 2018 with financial benefit from 1 July 2018," North-ern Star Resources said in a statement. It "will be funded from exist-ing cash on balance sheet and a fully underwritten A$175 million eq-uity capital raising via Northern Star’s unconditional ASX placement capacity".

In 2017, the Alaskan mine produced some 271,000 oz.

The Australian miner says it is listed on the Australian Securities Ex-change (ASX). Northern Star Resources runs projects located in the country’s Western Australia and the Northern Territory region.

The property lies in the famous Cobalt province and is approximately 47 km south of the town of Cobalt. The picture shows an old mine in the town of Cobalt. In the early 1900s, the area was heavily mined for silver; the silver ore also contained cobalt. By 1910, the community was the fourth highest producer of silver in the world. Mining declined significantly by the 1930s, together with the local population. In late 2017 one publication referred to Cobalt as a ghost town, but the high demand for cobalt, used in making batteries for mobile devices and electric vehicles, is leading to great interest in the area among mining companies. Photo: Wikipedia, credit: P199
The property lies in the famous Cobalt province and is approximately 47 km south of the town of Cobalt. The picture shows an old mine in the town of Cobalt. In the early 1900s, the area was heavily mined for silver; the silver ore also contained cobalt. By 1910, the community was the fourth highest producer of silver in the world. Mining declined significantly by the 1930s, together with the local population. In late 2017 one publication referred to Cobalt as a ghost town, but the high demand for cobalt, used in making batteries for mobile devices and electric vehicles, is leading to great interest in the area among mining companies. Photo: Wikipedia, credit: P199

Quantum Cobalt Completes First Pass Exploration Near Temagami, Ontario

Sotkamo Silver consists of the parent company, Sotkamo Silver AB, with one wholly-owned subsidiary in Finland: Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region. The Company has completed the Definitive Feasibility Study for the Silver Mine project and is working on project financing issues. Photo: Sotkamo Silver
Sotkamo Silver consists of the parent company, Sotkamo Silver AB, with one wholly-owned subsidiary in Finland: Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region. The Company has completed the Definitive Feasibility Study for the Silver Mine project and is working on project financing issues. Photo: Sotkamo Silver

New silver mine opened in Finland

"150 trucks pro year"

The production of the first silver mine in Finland has started in Sotkamo. the mine of the Sotkamo...

The joint initiative called HYBRIT of SSAB, LKAB and Vattenfall – here with their three representatives at the fair, from right, Martin Pei technology manager at SSAB, Jan Moström CEO of LKAB and Martin Lindqvist, CEO of SSAB. HYBRIT is now on exhibit as an exciting sustainability collaboration at one of the worlds largest industrial trade fairs in Hanover. The CEOs of the three companies are in Germany to show the rest of Europe that it is possible to produce fossil free steel. Photo: SSAB
The joint initiative called HYBRIT of SSAB, LKAB and Vattenfall – here with their three representatives at the fair, from right, Martin Pei technology manager at SSAB, Jan Moström CEO of LKAB and Martin Lindqvist, CEO of SSAB. HYBRIT is now on exhibit as an exciting sustainability collaboration at one of the worlds largest industrial trade fairs in Hanover. The CEOs of the three companies are in Germany to show the rest of Europe that it is possible to produce fossil free steel. Photo: SSAB

The Swedish steel industry exposes at the Hanover Fair

"revolutionary steel industry changeover"

- The Swedish initiative for fossil-free steel production, HYBRIT, participates this week at the...