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Sources say that China's Zijin is leading the race to purchase Barrick's Tongon gold mine in Ivory Coast.
Two sources familiar with the matter said that China's Zijin Mining was the frontrunner for Barrick Mining to purchase the Tongon gold mine located in northern Ivory Coast. The deal could be worth up to $500m. Barrick, third-largest gold producer in the world, has shifted its focus to high-margin assets with long-term life, and is focusing more on copper, as well as strategic operations in Africa, and the Middle East. The company suspended operations at its Loulo-Gounkoto mining complex in Mali, after the military government of that country blocked exports, arrested staff and seized 3 tons of gold over a dispute about its new mining codes. Two sources confirmed that Barrick appointed TD Securities in Canada and Treadstone Resource Partnership in Australia to provide advice on the sale of Tongon, which Barrick claims will produce 148,000 ounces gold by 2024, worth $504 million at current prices. Barrick anticipates that the mine will enter care and maintainance by 2027, due to its declining resources. The Canadian miner said it would not comment on speculation in the market. TD Securities and Treadstone have not responded to requests for comments. Zijin is one of China's biggest gold and copper producers. It has recently acquired properties in South America and Central Asia. Tongon's interest comes after Chinese state owned enterprises invested more than 50 billion dollars in African mining projects in the last decade, with a focus on bauxite and copper. A mining executive said that Zijin was leading the bid for Tongon because of its financial strength. He added that the asset's value is around $300 million, and Zijin will likely offer much more than that to secure the asset, possibly up to $500,000,000. Second mining executive confirms Zijin’s lead, but says a local Ivorian firm, which he refused to name, is also in the running. Zijin, according to the executive, did not seem to be in favour of forming a joint venture to purchase the Tongon mine despite it being the preferred option for the Ivorian Government. Zijin has not responded to a comment request. Officials from the Ivory Coast Ministry of Mines stated that they didn't have the most recent information about the proposed sale and declined to comment on what the government wanted. The first executive stated that a final decision will be made on the winning bidder later this month. This is subject to regulatory approval. Deal could fall through, or be delayed. Barrick has reshaped its portfolio. It completed a $1 billion deal to sell its 50% stake in Alaska's Donlin Gold Project and agreed to divest the historic Hemlo Mine in Canada. This marks its exit from gold production in Canada. A military helicopter in Mali airlifted the gold from Loulo-Gounkoto earlier this month. This was just a few days after the court-appointed administrator had announced his plans to sell the bullion to fund the operation. Zijin purchased a 9.9% share in Canada's Montage Gold, which develops the Koney Gold Project in Ivory Coast. In October, Zijin paid $1 billion to Newmont for its Akyem Gold Mine. Barrick owns 89.7% of Tongon. The Ivorian government holds 10%, and local investors hold the remaining 0.3%. Maxwell Akalaare Adombila (Reporting) Additional reporting by Loucoumane Coulibaly; Polina Devitt & Amy Li, Editing by Veronica Brown and Kirby Donovan
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Zimplats considers reopening a mine that has been closed due to price rebound
An official from Impala Platinum said that the Zimbabwean division is considering reopening an abandoned mine in 1998. This comes after platinum prices reached their highest levels in over a decade. Impala, a company listed in Australia and 87% owned Zimplats by Impala, acquired the Hartley Mine when it purchased assets that were previously owned by BHP. Impala board chairman ThandiOrleyn stated that the mine had been placed under care and maintenance because it failed to meet important production targets. This was revealed during the Wednesday commissioning of Zimplats' 35 megawatt solar power plant. Orleyn stated that "Zimplats conducts studies and trials in order to develop a safe, efficient and mechanised mining technique for reopening of the mine", without providing any further details regarding a timeframe or potential capacity. The price of platinum soared by 36% during the second quarter. This was due to a surge in Chinese imports, and a decrease in supply from South Africa, a major producer. Impala and its competitors have been forced to cut costs and suspend projects due to a two-year price slump. Impala delayed spending on its $1.8 billion capital project at Zimplats last year due to the low prices of metals used in catalysts which reduce toxic emissions from vehicles. However, the company has now completed several projects, including a first phase of a solar plant with 185 megawatts and an expanded smelter that were officially opened on Wednesday. Zimplats stated that it aimed to complete capital projects by 2031, including the rehabilitation and reopening of a base-metal refinery.
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US Mobile Home Parks Weather Climate Change with Resident Ownership
Mobile homes communities are more resilient when they work together Extreme weather is more likely to affect parks California Mobile Home Parks in High-Risk Zones 37% Rachel Parsons Early July is when the forecast predicts that temperatures will regularly exceed 42 C throughout the summer. The mobile home is one of sixty manufactured homes that make up Comunidad Nuevo Lago. It's located eight miles south of Fresno, in the scorching Central Valley. Perez Sierra stated, "We want the space to be greener so that people can enjoy the area because mobile homes get very hot." Residents weren't allowed to plant shade trees until last year, when they formed a co-operative and purchased the land that their homes are on from a commercial property firm. Experts say that resident ownership could help low-income residents of mobile home parks (or MHPs) in the United States to strengthen their resilience against heat, flooding and other weather extremes caused by climate change. Residents can decide to make infrastructure improvements, such as erecting a storm shelter or planting trees to guard against these hazards, by joining a cooperative. Out of the 43,000 mobile homes parks in the United States, Comunidad Nuevo lago is among more than 300 communities that have joined forces to form a cooperative. Low-income residents can rent prefabricated housing at affordable rates, and for some it is their only opportunity to own a house. Mobile homes, as compared to traditional site-built homes, are more exposed to extreme weather hazards such as tornadoes and floods. This is largely due their location. In the west of the United States, heat and wildfires pose the greatest threat. C.J. said that manufactured housing in California is more prevalent in the hotter parts of the state as well as rural areas. Gabbe is a Santa Clara University professor whose research has been focused on mobile homes and extreme climate zones. He said that "those would be the places where we'd expect a higher wildfire risk in the future." Ovens in Summer According to U.S. Census figures, 22 million Americans live in manufactured housing, the majority of which is located in specially-built parks. Renters and homeowners of these homes have lower household incomes than the average. Research shows that in California, these households have an average head age of 63 compared to 51 for traditional housing. Gabbe said that older, low-income residents were more susceptible to the dangers associated with sizzling temperatures. Gabbe explained that the stigma of poverty led local governments to pass zoning laws prohibiting mobile homes from being placed in residential areas. "They were often allowed in places where they weren't seen or heard," he said. He said that 37% of California’s MHPs are in zones at high risk for wildfires or deadly heat. The roofs of many homes in Comunidad Nuevo lago are made from corrugated steel, which turns them into ovens during the summer. Gabbe stated that MHP residents spend more than double their average income on electricity because of the lack of insulation in these homes. Some neighbors of Perez Sierra are replacing their old homes to increase their climate resilience. Nicholas Salerno is the chief program officer of Resident Owned Communities (ROC USA), the nonprofit organization that assisted Comunidad Nuevo Lago in purchasing its land. Salerno, Texas has seen MHPs install storm shelters and adequate drainage systems in flood-prone areas in Texas under ROC's resident ownership model. Priorities of the Resident MHPs have traditionally been owned and operated as a result of individuals living on the site. This pattern has changed over the past 15 years as private equity firms have bought thousands of parks. These firms cut back on services to increase the value of real estate. They also raise site rental fees, which is the amount a homeowner has to pay for a small plot of land. Perez Sierra reported that the site rents at Comunidad Nuevo Lago nearly quadrupled after a commercial realty brokerage bought the park from its individual owners in 2019. The community now votes its priorities, guided by the five-member resident board. It intends to invest in more trees, and investigate options for solar power and a pool. Board President Jesus Felipe Sierra Lopez pointed out lead trees (guaje, in Spanish) that grew from the tiny gardens. He said: "Anytime you see a large tree like that you know there are people living in Oaxaca." Most of the community is based in southern Mexico and works in agriculture, mainly in the Central Valley. The Central Valley is covered in almond and grapevine groves. Lopez stated that the stability of ownership has given residents a greater sense of optimism, even when faced with climate change. Perez Sierra is a young person who works in a non-profit organisation. She represents the younger generation, which wants to remain in the park. Perez Sierra said that residents and guests gathered under mature trees to enjoy the shade. It's "Oh, you're still living in the trailer park," as if you hadn't moved.
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LME copper reaches record high on COMEX
U.S. copper prices hit a Record high On Wednesday, as the date of the U.S. tariffs drew nearer, London's levels rose to their highest in more than two weeks due to a U.S. Japan trade agreement. U.S. Copper Futures rose 2.8% by 1450 GMT to $5.88 per lb after reaching a high of $5.93 before the start of tariffs on August 1, which will be imposed by U.S. president Donald Trump. COMEX copper is up 32% since Trump's investigation of copper tariffs in February. The benchmark three-month price of copper at the London Metal Exchange has remained unchanged at $9.918 per metric ton, after previously reaching its highest price since July 4, at $9.947. The COMEX premium over LME copper reached a new record of over $3,100 per ton. The global stock markets were lifted by the news that U.S. president Donald Trump had struck a deal with Japan. Investors in metals are focusing on a possible trade deal with China, the world's largest consumer of metals. This is ahead of an official meeting between U.S. officials and Chinese officials scheduled for Stockholm next week. The market was weighed down by concerns about an oversupply. Data showed that the copper market had a surplus in the first five month of the year of 272,000 metric tonnes. A surplus of inventory in the U.S., after traders took advantage the higher COMEX price, also weakened the market. Nitesh Sha, commodity strategist with WisdomTree, said: "We may see copper trading ranges once tariffs are implemented or even if they soften." The U.S. is going to use up its copper stockpile before importing any new units. Therefore, demand could be a bit low during that time of inventory depletion. Aluminium, the LME's worst-performing metal, dropped 0.5%, to $2,645.50 per ton. Robert Montefusco, broker at Sucden Financial, said in a webinar that producers were happy to do forward sales around these levels. Zinc rose by 0.2%, to $2865.50. Lead gained 0.7%, to $2025. Nickel added 0.1%, to $15540. Tin jumped 2.2%, to $34,655. Click here to see the top metals stories (Reporting and editing by Mark Potter, Ed Osmond, and Paul Simao).
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Shipping data reveals that Venezuela's PDVSA imports naphtha from Russia.
According to data from vessel tracking and a document that was seen on Wednesday, Venezuela's PDVSA, the state-owned oil firm, has received and unloaded a 700,000 barrel cargo of Russian-origin heavy naphtha. This is a crucial product for Venezuela's heavy crude production. PDVSA, a company sanctioned by the United States, needs to import light crude and condensate in order to dilute and export its heavy oil. In the past, Russia and Iran - both under U.S. sanction - have supplied the country with these products. The Russian import was the first of many diluents that the state company purchased ahead of Washington's May deadline for closing down all transactions in order to cancel U.S. licenses granted to its partners. According to TankerTrackers.com (a monitoring service), the Barbados flagged tanker Telesto left a ship-toship location near Russia's Taman Port, as identified by satellite photos. It added that the naphtha appears to have originated in Russia's Tuapse Port. According to the shipping documents and TankerTrackers.com, an Aframax oil tanker started unloading at PDVSA’s Jose port last week. The document states that PDVSA unloaded last month two cargoes containing imported light crude of unknown origin, which was also intended to be used for dilution of a total amount of 1,88 million barrels. PDVSA modified its crude blending operations and upgraded its Orinoco Belt production region earlier this year to reduce its naphtha needs and refine more at home. Since the cancellation of the licenses, the OPEC nation's oil exports are stable at around 800,000 barrels a day. PDVSA has sent more cargoes into Asia, after losing the U.S., and European markets. (Reporting and editing by Emelia Sithole Matarise; Staff Reporting)
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Israeli police investigate woman suspected of plotting to kill Netanyahu
Police said that a 70-year-old antigovernment activist was being investigated on suspicion of plotting the assassination of Israeli Prime Minister Benjamin Netanyahu. Police said that the suspect was accused of expressing her intention to kill Netanyahu, and asking for help from other activists in order to get weapons and gather information on Prime Minister Netanyahu's security arrangements. The National Unit for Serious and International Crime Investigations and Shin Bet, the internal security agency of Israel's government, have handed their evidence to the State Attorneys Office pending formal charges. Haaretz, citing sources familiar with the situation, reported that the woman was recently ill and had told others she intended to "take Netanyahu along with her". A number of people who heard the remarks made by the woman contacted the police and the investigation was opened. She was arrested about six weeks ago, and released on house arrest. Haaretz reported that the woman who is not identified and comes from Tel Aviv was suspected of wanting Netanyahu to be targeted with an explosive device. Yitzhak Rabin, the Israeli Prime Minister at the time, was murdered by a right-wing radical who opposed his peace efforts with Palestinians. David Ben-Gurion narrowly avoided a grenade assault by a mentally-ill man in 1957. (Reporting and editing by Peter Graff, Crispian Balmer)
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Mozambique wants to prosecute an opposition leader for unrest after the election
A document that prosecutors presented to Venancio Mondlane showed the Mozambique's intention to prosecute Mondlane for civil unrest following a disputed vote last year. Mondlane was summoned on Tuesday by the prosecutors. Mondlane claims that President Daniel Chapo, of the long-ruling Frelimo Party, won the election via vote-rigging. The 40-page document, which lays out a number of allegations including that Mondlane incited unrest, was presented to him. A Mondlane adviser shared the document on Wednesday, stating that the opposition politician denies all the accusations of the prosecutors. The Southern African nation's resource-rich country's prosecutors declined to comment. The protests against Frelimo after the elections, which resulted in more than 300 deaths, were by far the most violent since 1975, when Portugal gained independence. Frelimo denies accusations of electoral fraud, although Western observers claim that the October vote was not fair. In March and May, the two politicians had met to discuss their differences. Chapo launched a national dialogue and invited Mondlane as a member of a presidential advisory group. Louw Nel is a political analyst with Oxford Economics Africa. He said that attempts to prosecute Mondlane "would weigh on the political compromis Mozambique’s political actors achieved in March". (Reporting and editing by Aidan Lewis; Additional reporting from Kopano Gumbi; Writing by Alexander Winning)
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FT reports that Botswana wants to control Anglo De Beers' diamond business.
The Financial Times reported Wednesday that Botswana was seeking to acquire a controlling interest in De Beers, as Anglo American prepared to divest itself from the diamond company. Citing the country's minister of mining, this report was based on information provided by the Minister. Bogolo Kenewendo, the Mining Minister of Botswana, told the Financial Times President Duma "remains resolute" in his pursuit to increase Botswana’s stake in De Beers in order to guarantee Botswana’s complete control over this national strategic asset and its entire value chain. This includes marketing. The report stated that Kenewendo said any De Beers sale "without our assistance will be difficult to accomplish." De Beers is owned by Botswana, who currently owns about 15%. This company produces roughly 70% of its annual rough diamond production. Anglo American announced the sale of De Beers in a restructuring that included a major overhaul. This was after it had resisted a BHP Group takeover attempt earlier this year. In June, it was reported that De Beers had attracted the interest of at least six consortiums, including those backed by commodities billionaire Anil Aggarwal, Indian diamond companies and Qatari investment funds. Anglo American has continued to communicate with the Botswana government on a regular and appropriate basis, and at all stages of its plan to sell or list its 85% De Beers shareholding. A company spokesperson stated this in an email to. (Reporting from Aatrayee chatterjee, Bengaluru. Additional reporting by Bageshri banerjee. Editing by Shilpimajumdar and Sahal Muhammad)
EEW SPC Delivers Last Three Monopiles for Sofia Offshore Wind Farm

EEW Special Pipe Constructions (EEW SPC) has loaded out the last three monopiles for RWE’s 1.4 GW Sofia offshore wind farm, being built off the U.K.’s North East coast.
The total of 100 monopiles, with weights of 1,143 to 1,521 tons and lengths of up to 91.8 meters, were loaded onto a barge without incident using the RoRo (roll on/roll off) method with EEW's own SPMTs.
In the meantime, 90 foundations have been transported to the installation site in the North Sea and installed by the transport and installation company Van Oord using the ship Aeolus.
The Sofia wind farm will go into operation in 2026 and will then produce green electricity for around 1.2 million British households.
Currently under construction on Dogger Bank, 195 kilometers from the nearest point on the U.K.’s north east coast, it will comprise 100 Siemens Gamesa 14 MW offshore wind turbines.