A class action lawsuit against BHP Group alleges widespread sexual harassment and sex discrimination affecting women working at its Australian sites between 2003 and 2024. The case follows similar reports from other mining companies, revealing systemic issues within the industry. BHP shares are down, and the legal battle could have significant implications for the company and the mining sector.
Newmont, a leading gold mining company, has submitted an application to extend the operating permit for its Cadia mine in Australia until 2050. Cadia, Australia’s largest underground mine, produces a significant portion of the country’s gold and copper and provides substantial economic benefits to the region, including over 2,100 jobs and millions in annual spending. The extension aligns with the company’s commitment to sustainable mining practices and its focus on Tier 1 assets.
Fortuna Silver Mines Inc. (FSM) saw a dip in gold and silver production during the third quarter of 2024, primarily driven by lower output at its San Jose mine in Mexico. However, the company maintains its 2024 production guidance, projecting year-over-year increases in gold and gold equivalent production. Despite the challenges, FSM’s share price has outperformed the industry, and its performance is being compared with peers like Endeavour Silver Corporation.
The global green mining market is expected to reach $16.9 billion by 2029, driven by increasing demand for sustainable practices. This growth is fueled by factors like environmental regulations, community engagement, and advancements in technology, creating a shift towards eco-friendly mining operations.
Siyata Mobile, Inc. (SYTA) stock soared on Friday after the company announced a significant expansion into the mining industry. A new North American global mining customer has placed an initial order for the company’s SD7 handsets and related accessories. This order follows the delivery of UV350 Vehicle Kits to long-time customer Intellicom in Kazakhstan. The news comes despite Siyata’s recent earnings miss, highlighting the company’s focus on growth and its strategic partnerships in key industries.
Newmont Corporation, headquartered in Colorado, is the world’s leading gold mining company, boasting a production of over 8 million ounces of gold in 2022. Founded in 1916, Newmont has a rich history of expansion and innovation, evolving from a holding company to a global mining giant. From pioneering heap leaching techniques to navigating challenges like strikes and political turmoil, Newmont’s resilience and strategic acquisitions have solidified its position as the gold industry leader.
Anglo American, a mining giant, has received an unsolicited takeover proposal from BHP, the world’s largest mining company. BHP’s proposal includes the demerger of Anglo’s holdings in Anglo American Platinum and Kumba Iron Ore, addressing the underperforming units that have weighed on Anglo’s performance. Anglo’s portfolio includes attractive assets in copper, iron ore, and potash, which align with BHP’s growth strategy. Anglo shareholders may find the offer appealing, given the company’s recent challenges and BHP’s strong management team. However, the takeover faces potential obstacles, such as unfavorable terms, resistance from Anglo’s shareholders, or competition from other industry players.
The mining industry witnessed several significant developments on April 24, 2024. American Battery Technology (ABAT) refined its assessment for the Tonopah Flats Lithium Project (TFLP), resulting in improved economics and optimized processing. Steel Dynamics (STLD) reported strong first-quarter results, driven by solid demand in the automotive and construction sectors. Gold Royalty Corp (GROY) and Taurus Mining Royalty Fund entered into a collaboration agreement for co-investing in precious metals royalties and streams, focusing on assets valued over $30 million. Coeur Mining Inc (CDE) released its 2023 ESG Report, showcasing its achievements in environmental, social, and governance initiatives. These updates reflect the industry’s commitment to sustainability, innovation, and shareholder value.
U.S. Gold Corp. (NASDAQ: ) is holding its Annual General Meeting (AGM) virtually on at . Shareholders can access the meeting and participate using the provided login details. The record date for the AGM is , enabling shareholders as of business close on that date to cast their votes. The Company has distributed proxy materials to shareholders and made them available online, containing instructions for online proxy access, including the proxy statement and Annual Report on Form 10-K for the year ended . Additional information about the Company is available on their website at .
