International news within the industry of mining and metal, May, 22 2019
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US miner signs $212M silver deal

Photo: Royal Gold
Photo: Royal Gold
Published by
Jaroslaw Adamowski - 01 Mar 2019

US miner Royal Gold has announced its subsidiary RGLD Gold AG signed a life of mine purchase and sale agreement with Khoemacau Copper Mining to acquire 80% of the silver pro-duced from the Khoemacau copper project in Botswana.

 

The deal foresees an optional payment of a further $53 million for up to the remaining 20% of the silver produced by the African asset.

 

"The Khoemacau stream will fit nicely into our production profile and will add another component of growth," Tony Jensen, the president and chief executive of Royal Gold, said in a statement. "Coupling our stream with the Red Kite Mine Finance … debt facility also an-nounced today, Khoemacau is now fully funded and development ac-tivities can accelerate, with initial production and stream deliveries expected in the first half of 2021."

 

Based in Denver, Royal Gold says it is publicly traded on the NASDAQ Global Select Market

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