London-listed Great Southern Copper (GSC) has executed a binding term sheet for the Monti lithium project, located in the Salar de Atacama district of Chile. The Monti lithium project comprises 81 concession applications for a total combined concession area of 235 km2 in a district is renowned as Chile's foremost lithium brine production area.
Diversified major Anglo American has agreed to continue negotiations with exploration and development company Luminex to amend the terms of its earn-in of the Pegasus project, in Ecuador. Anglo American last month issued a withdrawal notice to Luminex, reportedly over a delay in receiving surface access to drill its preferred target at Pegasus.
Canadian miner Sierra Metals has placed its Cusi silver mine, in Mexico, on care and maintenance and initiated a process to sell the mine. The Cusi mine is deemed a noncore asset for Sierra, which is transitioning to become a copper-focused mining company.
Uranium prices are likely to extend a blistering rally and end the year more than 50% higher as mounting worries over climate change accelerate a global shift to cleaner sources of energy including nuclear power, analysts said. Uranium spot prices are expected to climb to $75-$80 a pound by end-December, in a fitting finish to a year that has seen the metal rally about 36% to-date.
