Pilbara gold player Marindi Metals has struck a cash and scrip deal worth over $C10 million ($10.2 million) to sell its Bellary Dome conglomerate gold project in WA’s Pilbara to Canada’s Pacton Gold (reports Stockhead).
Todd River Resources will undertake downhole geophysics and further drilling to ascertain the potential size of a zone of high grade copper-zinc mineralisation intersected at its Mount Hardy project in Northern Territory (reports MiningNews).
The company has been buoyed by the 25m intercept grading 2.4% copper, 4% zinc and 3.1% lead from 184m downhole, and expects the geophysics to begin by the end of the month.
Further drilling was already underway.
Global investment bank UBS has painted an optimistic outlook for lithium demand in the North Asian region, saying demand is accelerating faster than expected following a supply chain tour to the region to meet with 19 industry participants.
In a note released earlier this week, UBS says battery demand is being driven by combination of factors including by better electric vehicle (EV) sales, increasing battery size and dramatic growth in stationary storage demand.
A $2 billion acquisition spree by South32 and Gina Rinehart's Hancock Prospecting has underscored the more upbeat outlook on commodity prices among industry heavyweights, with the scramble to buy or develop world class assets and infrastructure heating up as the world's largest miners emerge from years of austerity (reports The Australian Financial Review).
Asked last month by a frustrated investor if, "hand on heart", Royal Dutch Shell was more concerned about "the sustainability of the company or with the sustainability of the planet", chief executive Ben van Beurden acknowledged that climate change will be "the defining challenge" facing the oil industry for years to come (reports The Financial Times).
The Chinese authorities have orchestrated an arms-length rescue for the giant aviation and investment group HNA, heading off a fresh liquidity crunch for one of the world’s biggest debtors (reports London’s Daily Telegraph).
The move came as the People’s Bank of China (PBOC) announced that it was setting up a special “financial risk tracking unit” to monitor local and international conditions after a surge in the number of corporate defaults in the country.