Dino Otranto

AngloGold bids $2.5bn in cash and shares for Centamin ANGLOGOLD Ashanti has launched a $2.5bn share and cash takeover of Centamin, the 450,000 ounce a year African gold miner. The offer, which has received the irrevocable support of Centamin’s board, values the UK-listed company’s shares at 163 pence, representing a 36.7% premium to its closing price on Monday, and a 37.6% premium to its 30-day volume-weighted average price. Centamin operates the Egyptian gold miner Sukari which produced 224,738 oz in the first half of this calendar year. It also recently completed a definitive feasibility study on Doropo, a project in the Ivory Coast it expected to cost $373m. If concluded, the acquisition of Centamin will boost AngloGold’s production to over three million ounces. Sukari also competes on an all-in sustaining cost (AISC) basis averaging $1,196/oz for the 12 months ended December compared to AngloGold’s $1,500 to $1,600/oz guidance for the current financial year. The initial reaction was negative for AngloGold with its shares falling just over 7% on the Johannesburg Stock Exchange. Centamin gained 24% to 148.3p/share, way above AngloGold’s offer in the first hour of trade on the London Stock Exchange. AngloGold CEO Alberto Calderon said the proposed transaction was free cash flow accretive in the first full year of production and net asset value accretive from day one. https://lnkd.in/dMQG25jH #miningrecruitment #cowaninternational #gateway4opportunity #africa

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🚨 Big news in the mining industry! BHP Group has proposed an all-share takeover of rival Anglo American, valuing the company at a staggering £31.1 billion ($38.9 billion). This move sent Anglo American shares soaring by over 16% in a single trading session. The proposal includes divestments by Anglo American of its stakes in South Africa-based Anglo American Platinum Limited and Kumba Iron Ore Limited. BHP's offer, if accepted, would see Anglo American shareholders receiving 0.7097 BHP shares per Anglo American share. This potential combination would create a powerhouse in copper mining, with projections suggesting it could supply up to 10% of global output. With copper playing a pivotal role in the energy transition, firms like BHP are strategically positioning themselves to capitalize on future growth opportunities. Exciting times ahead as the mining industry gears up for potential transformations! Click to read : https://lnkd.in/dGMtdjB9 💰⛏️ #MiningNews #TakeoverOffer #CopperMining

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Step after step... The project generation and prospect evaluation process will culminate with target ranking and selection for delineation and drill testing... The essential ingredient to our strategy is to have access to exploration grounds and review as many prospects as possible at the early stage. The quality of exploration targets rule, consequently CAMLX will consider both in-house generated targets and already licensed prospects for Options and Partnerships.

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BHP and Lundin Mining Corporation have entered into an agreement to jointly acquire 100% of Filo Corp., which owns the #FilodelSol #copper project, and establish a 50/50 joint venture to manage the Filo del Sol and #Josemaria projects in #Argentina and #Chile. Lundin Mining currently holds the Josemaria project, with BHP's total cash payment for the transaction expected to be around US$2.1 billion. Reflecting on this transaction, assuming completion in Q1 2025, three key insights emerge: - The deal highlights the shift towards asset-level or portfolio-based mergers over large-scale acquisitions, focusing on immediate asset development without post-merger complexities. - Exploration and project development of large copper assets are lengthy - 21 and 25 years in the Josemaria and Filo del Sol cases, respectively. Final feasibility, permitting, financing and construction will take some more years. - Both projects are situated in remote, high-altitude locations (4,000-5,400 m), necessitating autonomous operations with minimal on-site personnel. Technologies like #IoT, #machinelearning, and #AI will play integral roles in project execution. If you are not familiar with the projects, Filo Del Sol is remote, located on the Chile/Argentina border in the famous #Atacama region. The property is elevated between 4,500 and 5,400 m. It has been explored for the last 25 years, and the resource still remains open for expansion in several directions and at depth in several different styles of mineralisation, metal combinations, and grade distribution. Josemaria is also near the border, located in the #SanJuan Province of Argentina, 9 km to the east this time. Its elevation ranges from 4,000 to 4,900 m and has steep slopes. Access to the open pit site is to be from the city of San Juan – where the project has ready access to water, grid power, and logistics infrastructure. It has had continuous drilling campaigns since 2003, after its discovery, and may also be positioned as the centre of gravity for a district-scale development and expansion for copper-focused exploration.

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This is something I have been saying to some of my program participants for a while now. Many people express the desire to join the mining industry in Australia. And there is still a lot it can offer. 𝗕𝘂𝘁 𝗶𝘁 𝗵𝗮𝘀 𝘁𝗼 𝗯𝗲 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗿𝗶𝗴𝗵𝘁 𝗿𝗲𝗮𝘀𝗼𝗻𝘀. When I ask many of my program joiners (looking to build their English skills for mining industry careers in Aus) "Why Australia?", they sometimes give me answers that concern me. Like: "Because I want to be on the fore-front of world's best practises" "Because I want to learn from the industries best minds" "Because this is where I want to improve my skills and open my mind to innovative styles of work". And all of these reasons have been true in the past. But I don't believe they are true today. Australia is bogged down in "the old way of doing things". But times have changed. And the old way of doings things wont get you far in a brave, new world. In a world that is rapidly shifting and innovation is driving massive change - Australia is just NOT where it's at. The mining industry has been the bread and butter of the Australian economy and it is what has driven the country into the economic position it is in. But the politicians are like deer in the headlights right now. It is not decisive. It is not innovative. And it is not collaborative on ANY issue. If you are looking to add innovative skills to your portfolio, look somewhere else. If you are looking for a way of life and some security in a turbulent world - then Australia may be the right choice. It is a good choice for many people. But make sure you fully understand what you are "buying into". Is it a fact today? Or simply a memory of days gone by? Do your research or pay the price.

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