International news within the industry of mining and metal, May, 22 2019
Latest News

Canadian miner to acquire IDM Mining

Photo: Ascot Resources
Photo: Ascot Resources
Published by
Jaroslaw Adamowski - 09 Jan 2019

Market acquisition Canadas Ascot Resources has signed an agreement to acquire all of the issued and outstanding common shares of IDM Mining. The miner says the takeover will allow it to consolidate its Premier gold project and IDMs Red Mountain project to establish a leading gold development and exploration company in British Columbias gold triangle.

 

"The combination of the two companies will result in a compelling resource base of high-grade measured and indicated gold-silver resources positioning Ascot as a consolidator of the southern Golden Triangle," Ascot Resources said in a statement.

 

The proposed pro forma resource base would include 5.55 million tonnes of measured and indicated resources, according to the firm.

Cobalt mine in Democratic Republic Congo. About half of all mined cobalt comes from DRC, mainly from the province of Katanga. The mining takes place close to towns and villages. Local communities regularly are cut off from their farmland and water sources near mines, without having had a say in the matter. There are several examples of forced relocations of entire villages. Inhabitants of the village Kishiba, for example, were forced to move to make way for Frontier, a cobalt and copper mine. Their new homes in Kimfumpa lack the most basic of services such as clean water, fertile farmland, schools and health care. Photo: ECCJ Secretariat
Cobalt mine in Democratic Republic Congo. About half of all mined cobalt comes from DRC, mainly from the province of Katanga. The mining takes place close to towns and villages. Local communities regularly are cut off from their farmland and water sources near mines, without having had a say in the matter. There are several examples of forced relocations of entire villages. Inhabitants of the village Kishiba, for example, were forced to move to make way for Frontier, a cobalt and copper mine. Their new homes in Kimfumpa lack the most basic of services such as clean water, fertile farmland, schools and health care. Photo: ECCJ Secretariat

Chinese control half of the Congo's cobalt