Government approval for West Cumbria Mining (WCM)’s plans for a deep coal mine under the seabed off the Cumbrian coast could affect the UK’s legally binding carbon budgets. COP26 Climate change committee (CCC) chairman Lord Debden raised the concerns following government secretary Robert Jenrick’s decision in early January 2021 not to call in, or review, […]
Tag: extractive industries
Oriole acquires new Cameroon gold licences
Oriole Resources plc said it had expanded its Cameroon portfolio with five new gold licences and a further three granted to its partner. The five licences (Tenekou, Niambaran, Pokor, Ndom and Mbe) in Central Cameroon are located to the west of the regional capital, Ngaoundéré. They were granted through the company’s 90%-owned subsidiary Oriole Cameroon SARL. […]
Scotgold lowers output guidance
Scotgold Resources Ltd lowered its 2021 guidance for gold production, citing “teething problems” over handling issues and low recruitment due to pandemic restrictions imposed since 25 December. The company said that problems had occurred in three key areas of crusher circuit chokes, flotation circuit pumps and filter press controls at its Cononish gold and silver […]
Power Metal receives £107,213 via warrant exercise
Power Metal Resources plc has received £107,213 following notices to exercise warrants over 11,773,926 new ordinary shares of 0.1 pence each in the company. Exercise of 7,563,400 warrants was at 1.0 pence per ordinary share and 4,210,526 warrants at 0.75 pence per ordinary share. Following admission, the company’s issued share capital will comprise 1,087,181,372 ordinary shares […]
WCM submits licence variation to mine applications
West Cumbria Mining Ltd (WCM) has submitted two licence variations to applications for its proposed deep coal mine under the Irish Sea off the coast of Cumbria. DECISION On 15 January 2021, the Coal Authority received from the company an application for a conditional underground licence – variation for Whitehaven Offshore No.2 Area and for […]
Altona raises new funds after £11m impairment
Altona Energy plc recorded £11 million impairment of historic Australian coal assets as the company continues its transformation into an African-focused rare earths miner. For the year ended 30 June 2020, Altona reduced loss before taxation to £228,000 compared with £11.6m during 2019. The impairment of the intangible assets of £11,033,000 was due to Altona […]