Daily Mining Industry Report: March 18, 2025

Daily Mining Industry Report: March 18, 2025

Canadian Developments

• Agnico Eagle Completes Acquisition of O3 Mining
  Agnico Eagle Mines Limited has finalized the acquisition of O3 Mining, offering $1.67 in cash per common share. This strategic move aims to bolster Agnico Eagle's gold asset portfolio in Canada. ​Agnico Eagle+1PR Newswire+1

• Canada Nickel Forms and Partially Sells RoyaltyCo Subsidiary
  Canada Nickel has established and partially sold its RoyaltyCo subsidiary, receiving $8 million in cash and 8.9 million shares, resulting in a 62% interest in RoyaltyCo. This initiative is part of Canada Nickel's strategy to optimize its asset portfolio. ​Junior Mining Network

Global Developments

• Saudi Arabia Issues Mining Exploration Licenses
  Saudi Arabia has granted mining exploration licenses to local and international firms, including India's Vedanta and a consortium of Ajlan & Bros with China's Zijin Mining. The licenses cover areas rich in base and precious metals, aligning with the kingdom's Vision 2030 strategy to diversify its economy. ​Reuters

• Australia Advances Terbium Extraction Technology
  Haoma Mining in Australia has developed the Elazac process, a new method for extracting terbium and gold. This technological advancement could significantly reduce costs and address global shortages of these critical minerals. ​The Australian

• Simandou Mining Project Progresses in Guinea
  Guinea's government plans to open the Simandou mining complex this year, which includes the world's largest untapped iron ore deposits. The project encompasses a 650km railway and three seaports, aiming to boost the local economy. ​

• Glencore Restructures Canadian Operations
  Glencore is intensifying cost-cutting measures by integrating its Canadian copper plants in Quebec with U.S. recycling sites into its global zinc smelting division. This restructuring follows an internal review and is part of a broader overhaul of its global smelting business. ​Reuters

• Ferrexpo Reports Loss Amid Ukrainian Nationalization Efforts
  Ferrexpo, focused on Ukraine, reported a surprise loss due to an impairment charge and issued a formal notice to Ukraine over efforts to nationalize its largest mine, the Poltava mining and processing plant. ​Reuters

• Energy Fuels and Chemours Form Strategic Alliance
  Energy Fuels Inc. and The Chemours Company are forming a strategic alliance to create a domestic supply chain of critical minerals for the United States, aiming to enhance national security and economic independence. ​Energy Fuels Investors+1Chemours Investors+1

• Zambia's Kafue River Contaminated by Mining Waste Spill
  An acidic waste spill from a Chinese-owned copper mine in Zambia has severely contaminated the Kafue River, affecting millions who rely on it for water and fishing. The incident has raised environmental and public health concerns.

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