⛏ Lithium Miner Stock Doubles After U.S. Proposes Equity Stake

"A Black Swan Event": Copper Prices Soar After FCX Declares Force Majeure
Freeport-McMoRan (FCX) on Wednesday declared force majeure at its Grasberg mine in Indonesia and said it is expecting consolidated sales to be lower for copper and gold in the third quarter, sending its shares down ~15%. Earlier this month, the company had temporarily halted mining at Grasberg after a large flow of wet material blocked access to parts of its underground mine, restricting evacuation routes for seven workers. Read on »

Vox royalty acquisition announced
Vox Royalty Corp (VOXR) announced the acquisition of a substantial royalty portfolio from Deterra Royalties, funded in part by an equity offering alongside a new credit facility. The details: Vox receives 10 offtake and royalty assets over 12 mines in 8 countries for $57.5 million in cash plus a further $2.5 million deferred. The company will now receive over 300,000 ounces of gold per year in offtake agreements from the acquisition. Read on »

Lithium Miner Stock Doubles After U.S. Proposes Equity Stake
Lithium Americas (LAC) stock doubled Wednesday as the Trump administration is seeking an equity stake in the mining company, which is based in Vancouver, British Columbia. The White House proposed the equity stake as Lithium Americas renegotiates the terms of a $2.2 billion loan from the Department of Energy for its Thacker Pass mine in Nevada, a Trump administration official told CNBC. Reuters first reported the equity stake proposal. Read on »

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