Proactive weekly mining highlights – Rio Tinto PLC, Shanta Gold Limited, Bacanora

Rio Tinto PLC (LON:RIO) said its chairman Simon Thompson will step down at the Anglo-Aussie company’s 2022 annual general meetings.

Sam Laidlaw, senior independent director of Rio Tinto PLC, and Simon McKeon, senior independent director of Rio Tinto Ltd (ASX:RIO), will jointly lead the search for Thompson’s successor after he decided not to seek re-election.

“I am proud of Rio Tinto’s achievements in 2020, including our outstanding response to the COVID-19 pandemic, a second successive fatality-free year, significant progress with our climate change strategy, and strong shareholder returns,” said Thompson. “However, these successes were overshadowed by the destruction of the Juukan Gorge rock shelters at the Brockman 4 operations in Australia and, as chairman, I am ultimately accountable for the failings that led to this tragic event,” he added.

Rio Tinto destroyed the Juukan rockshelters in the Pilbara region of Western Australia in May 2020, damaging its longstanding relationship with the Puutu Kunti Kurrama and Pinikura People – the Traditional Owners of the 46,000-year-old caves.

Shanta Gold Ltd (LON:SHG) generated revenue of US$147.4mln from its gold production operations in Tanzania during the year to 31 December 2020, up significantly from the US$112.8mln generated in 2019.

Bacanora Lithium PLC (LON:BCN) has received £21.8mln from Sonora Lithium Ltd (SLL) after Ganfeng Lithium Co Ltd exercised a share option.

Galileo Resources PLC (LON:GLR) said it agreed to sell the Star zinc project to a local Zambian mining company for US$750,000, in a deal that could allow it to benefit from future royalty payments.

Metal Tiger PLC (LON:MTR) said progress was encouraging at the Kitlanya East copper-silver project in Botswana, operated by Kalahari Metals Ltd (KML).

Savannah Resources PLC (LON:SAV) said the ongoing metallurgical test work programme at its Mina do Barroso lithium project in Portugal has highlighted the potential for lower capital and operating costs.

BlueRock Diamonds PLC (LON:BRD) has raised gross proceeds of £1.5mln through an oversubscribed share subscription at 40p per share.

Metal Tiger PLC (LON:MTR) said it will vote in favour of all resolutions at an extraordinary general meeting of 19.99%-owned investee company Cobre Limited to decide whether Cobre should acquire 51% of the issued share capital of Kalahari Minerals Ltd (KML).

W Resources PLC (LON:WRES) said it successfully completed its plant improvement programme at the La Parrilla Mine in Spain, leading to improved efficiency and increased production of tin and tungsten concentrate.

Landore Resources Ltd (LON:LND) said drilling at the BAM gold deposit in Canada is proceeding as scheduled with results so far confirming the depth and length extensions of the west pit.

Mkango Resources Ltd (LON:MKA)(CVE:MKA) completed its flotation pilot plant programme for the Songwe Hill rare earths project in Malawi. 

Strategic Minerals PLC (LON:SML)(USOTC:SMCDY) confirmed the rollover of access to the magnetite stockpile in New Mexico.

Emmerson PLC (LON:EML) has raised £5.5mln in a placing of shares at an issue price of 5.75p.