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TORONTO, ON / ACCESSWIRE / September 20, 2021 / Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSXV:TSD)(OTCQB:TSDRF)(FSE:TZO) is pleased to announce positive geotechnical lab test results for its wholly owned Xaudum Iron Project. These are the first set of geotechnical lab tests conducted on the Xaudum Iron Formation (XIF) and indicate that the XIF materials are competent and have good to moderate strength properties and will result in a positive set of geotechnical parameters to be used in the ongoing Preliminary Economic Assessment ("PEA") of the XIF project.

Rock strength data is important in generating slope designs for safe mining and this set of lab test data will contribute to further geotechnical studies into rock mass rating for pit stability and pit wall design during the engineering stage of the PEA. The aim of conducting lab tests on these XIF samples is to measure the ranges at which the XIF will fail under tension, compression and shear on their discontinuities. To test the above-mentioned strength properties, the selected samples from XIF Geodomains were subjected to the following tests: Unconfined Compressive Strength, Brazilian Tensile Strength, and Direct Shear Strength. These tests were conducted at the Botswana International University of Science and Technology (BIUST) by the Mining and Geological Engineering department and the results can be found in Table 1.

Tsodilo's Chairman and CEO, James M. Bruchs, commented "The results were what we expected, they show that the XIF materials are all within standard mechanical rock property ranges and that there will be no geotechnical issues arising from the XIF materials and confirm that the XIF will show "normal" pit wall angles as assumed in the Company's previous resource reporting."

31 geotechnical tests were processed by BIUST, see Table 1. A summary of the completed geotechnical test works is set forth below:

18 Unconfined Compressive Strength (UCS) tests gave the following results:

Fresh Banded Magnetite formation (MBA) has a Very Strong Rock Strength Classification with a UCS average value of 132.7 MPa. Cataclastic mode of failure is the most prevalent in these MBA samples where the samples break irregularly at high stress without following any plane of weakness;
- Cataclastic is common in hard and brittle rocks, this mode of failure suggests that MBA banding is not necessarily a plane of weakness;
Weathered Banded Magnetite (MBW) has a Strong Rock Strength Classification with a UCS average value of 81.3 MPa ;
- MBW tends to break along foliation suggesting that there are micro-fractures developed along foliation caused by weathering;
Diamictite Schist Formation (DIA) has a Strong Rock Strength Classification with a UCS average value of 57.2 MPa. DIA is predominantly the main country rock in the XIF and will make up the bulk of the pit wall materials during mining of the XIF;
- This Geodomain exhibits single shear as the dominant mode of failure which can be attributed to foliation and schistocity of this rock type that creates a plane of weakness;
Diamictite Schist Weathered formation (DIAW) has a Medium Strong Rock Strength Classification with a UCS average value of 31.6 MPa;
- DIAW breaks easier along the schistocity foliation suggesting the weathering exacerbates the schistocity weakness planes of the rock mass;
Calcrete Overburden (CAC) has a Strong Rock Strength Classification with a UCS average value of 80.4 MPa;
- Axial splitting is the dominant mode of fracture for this rock type.
Table 1: Part A shows the UCS test results

8 Brazilian Tensile Strength (BTS) tests gave the following results:

MBA gave a Strong to Very Strong tensile strength with an average of 9.65 MPa;
DIA gave a Medium Strong to Strong tensile strength with an average of 8.82 MPa;
Table 1: Part B shows the BTS test results
The BTS values for DIA and MBA were plotted against UCS results and compared with other rock strength values in the literature showing the strong nature of these materials, see Figure 1.

4 Direct Shear Strength (DSS)tests on open discontinuities (joints) on DIA Geodomain gave the following results:

These joints gave effective friction angles ranges from 19.29^o (Poor) to 36.87^o (Good) and the effective cohesion of the joint surface ranged from 27.02 kPa to 273.81 kPa;
- The cohesion values are considered to be moderate low to moderate when compared to other geological scenarios in the literature, see Figure 2;
The friction angle ranges show that the material along the joint surface has variable amounts of "weak" phyllosilicate materials (dominated by biotite) due to the schistic nature of the DIA; and
- Group A (Figure 2) showing appreciable phyllosilicate (biotite) material and thus lower effective friction angles, compared to Group B (Figure 2);
These results of these DSS tests are well within normal results for materials like the DIA.
Table 1: Part Cshows the DSS test results

Geotechnical Lab Test Conclusions

The UCS and the BTS strength tests indicate that the XIF major Geodomains are competent and strong in both dimensions of compression and tension. The UCS mode of failure indicates that DIA, DIAW and MBW tend to show a preferred mode of failure related to the foliation. This is not as common for MBA and CAC. The joint discontinuities tested for DSS lean towards poor and fair characterizations.

These are the first set of geotechnical lab tests conducted on the XIF and show that the XIF materials are competent and will result in a good set of geotechnical parameters to be used in the ongoing PEA. These geotechnical lab tests show that the XIF materials are all within standard mechanical rock property ranges and that there will be no geotechnical issues arising from the XIF materials confirming that the XIF will show "normal" pit wall angles as assumed and presented in the Company's XIF resources report (see Press Release of 9/14/2014 on the Company's website for further details).

References

Chakraborty, S., Bisai, R., Palaniappan, S. K., & Pal, S. K. (2019). Failure Modes of Rocks under Uniaxial Compression Tests: An Experimental Approach. Journal of Advances in Geotechnical Engineering Volume 2 Issue 3, 1-8.
Perras, M. A., & Diederichs, M. S. (2014). A Review of the Tensile Strength of Rock: Concepts and Testing. Springer.
Read, J., & Stacey, P. (2010). Guidelines for Open Put Slope Design. Collingwood: CSIRO Publishing.
Wyllie, D. C., & Norrish, N. I. (2006). Rock Strength Properties and their Measurements. 372-390. Chapter 14 from Landslides: Investigations and Mitigations by Turner, K. A. and Schuster, R. L. (ISBN: 030906208X)

About Botswana International University of Science and Technology

The Botswana International University of Science and Technology is a Government of Botswana supported institution established as a research-intensive University that specializes in Engineering, Science and Technology at both undergraduate and graduate (Master's and Doctoral) levels. It aims to increase competitiveness, economic growth and sustainable development; address the shortage of skilled scientists and technologists; increase movement of skilled people across national boundaries; stimulate research, innovation, and technology transfer; improve society's aspirations to improve health, wealth and well-being; address increased demand for access to tertiary education; and enable a more competitive and innovative tertiary education sector.

The University is a national strategic initiative that is intended to serve as one of the key platforms for transforming Botswana's economy. Because of its research emphasis, BIUST works with the private sector to meet emerging skills needs of the industry, as well as identifies challenges that can be solved through applied research. (www.biust.ac.bw).

About the XIF Project

The project is located in the North-West District of Botswana and is proximate to the Namibian boarder and lies twenty-two (22) miles from the town of Divundu in Namibia. The Walvis Bay-Ndola-Lubumbashi Development Corridor (previously known as the Trans-Caprivi), line linking Zambia and Namibia is planned to pass through Divundu providing access to Walvis Bay, Namibia's deep-sea port.
- The Company has joined the Walvis Bay Corridor Group (WBCG). Currently the portion of the corridor between Grootfontein (Namibia) to Katima Mulilo located on the Zambia border is the portion of the corridor closest to the Xaudum Iron Project. In March 2021, the Namibian Ministry of Works and Transport commissioned a Feasibility Study for the Trans-Zambezi Railway Extension Grootfontein — Rundu – Katima Mulilo. The proposed rail extension between Grootfontein and Katima Mulilo is significant to Tsodilo as the extension is planned to pass through Divundu. The feasibility study is expected to be completed by the end of 2021 and its results will be considered in our Preliminary Economic Assessment (PEA).
- The project is also located within forty-three (43) miles of the proposed Mucusso line to Angola's Namibe Port.
Preliminary work on the Xaudum Iron project has defined a CIM compliant Inferred Mineral Resource Estimate of 441 million tonnes (Mt) with an average grade of 29.4% Fe, 41.0% SiO2, 6.1% Al2O3 and 0.3% P for the Block 1 magnetite XIF.
Block 1 is a fraction of the potential XIF magnetite resource. An extrapolated exploration target has defined the XIF to be in the order of 5 to 7 billion tonnes at 15 – 40% Fe. This exploration target was generated by inversion modelling of ground magnetic geophysical data which was compared and moderated to volumes from drilling data within Block 1 and its potential quantity and grade is conceptual in nature. To date, there has been insufficient exploration to define a mineral resource other than in Block 1 and it is uncertain if further exploration will result in the target being delineated as a mineral resource. See Press Release of 9/14/2014 on the Company's website for further details.
Metallurgical magnetic separation results (Davis Tube Recovery) show an average concentrate of 67.2% Fe, 4.2% SiO2, 0.5% Al2O3, 0.07% P is obtained at P80 grind size of 80 microns, although higher grades are possible at finer P80's. See Press Release of 12/17/2013 on the Company's website.
Further exploration will be focused on Block 2a where the Company expects an increase in the resource.

An informational presentation of the project outlining more information can be found on the Company's website at http://www.tsodiloresources.com/i/pdf/Tsodilo-Iron-Project-Overview_May-2021_Website.pdf.

More technical information a report prepared by SRK Consulting (UK) Ltd. for Gcwihaba Resources (Pty) Ltd. titled "Mineral Resource Estimate for the Xaudum Iron Project (Block 1), Republic of Botswana" with an effective date of August 29, 2014 and filed on SEDAR under the Company's profile at www.sedar.com.

About Tsodilo Resources Limited

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond, metal deposits and industrial stone at its Bosoto (Pty) Limited ("Bosoto"), Gcwihaba Resources (Pty) Limited ("Gcwihaba") and Newdico (Pty) Ltd. ("Newdico) projects in Botswana and its Idada 361 (Pty) Limited ("Idada") project in Barberton, South Africa. The Company has a 100% stake in Bosoto (Pty) Ltd. which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana and the PL216/2017 diamond prospection license also in the OKF. The Company has a 100% stake in its Gcwihaba project area consisting of seven metal (base, precious, platinum group, and rare earth) prospecting licenses all located in the North-West district of Botswana. The Company has a 100% interest in its Newdico industrial stone project located in Botswana's Central District. Additionally, Tsodilo has a 70% stake in Idada Trading 361 (Pty) Limited which holds the gold and silver exploration license in the Barberton area of South Africa. Tsodilo manages the exploration of the Newdico, Gcwihaba, Bosoto and Idada projects. Overall supervision of the Company's exploration program is the responsibility of Dr. Alistair Jeffcoate, Project Manager and Chief Geologist of the Company and a "qualified person" as such term is defined in National Instrument 43-101.

This press release may contain forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements pertaining to the use of proceeds, the impact of strategic partnerships and statements that describe the Company's future plans, objectives or goals) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward- looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in equity markets, changes in general economic conditions, market volatility, political developments in Botswana and surrounding countries, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, exploration and development risks, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to availability and cost of funds, timing and content of work programs, results of exploration activities, interpretation of drilling results and other geological data, risks relating to variations in the diamond grade and kimberlite lithologies; variations in rates of recovery and breakage; estimates of grade and quality of diamonds, variations in diamond valuations and future diamond prices; the state of world diamond markets, reliability of mineral property titles, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, operational and infrastructure risk and other risks involved in the diamond exploration and development business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.

FOR FURTHER INFORMATION PLEASE CONTACT:

James M. Bruchs
Chairman and Chief Executive Officer
JBruchs@TsodiloResources.com

Dr. Alistair Jeffcoate
Project Manager and Chief Geologist
Alistair.Jeffcoate@tsodiloresources.com

Head Office
Telephone +1 416 572 2033
Facsimile + 1 416 987 4369
http://www.TsodiloResources.com

SOURCE: Tsodilo Resources Limited

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By Mimosa Spencer

PARIS (Reuters) – In a bid to drum up investor appetite for rough, natural diamonds, mining company Lucara Diamond Corp and manufacturer HB Antwerp on Monday unveiled a 1,175-carat diamond in New York City.

The companies are billing the stone as the largest rough diamond to be shown in the United States, and the third-largest to be discovered. Reuters could not independently verify these claims.

HB Antwerp told Reuters it has yet to decide whether the uncut diamond will be cut into polished stones.

The massive diamond was unveiled at the Whitby Hotel in upper midtown Manhattan, kicking off a week of viewings.

The uncut stone was one of three diamonds of over a thousand carats extracted from the Karowe Mine in Botswana in recent years. In 2020, the two companies teamed up with Louis Vuitton to show the Sewelo diamond, also from the Karowe Mine, with each of the three parties taking ownership.

“We’ve been in the business for many years, for quite some time, and these types of things do get us excited because of the sheer size,” Oded Mansori, chief executive officer of HB Antwerp, told Reuters. He held up a hand, curling his fingers as if holding an egg, to demonstrate its size.

The partners aim to throw the spotlight on the natural state of the stone, at a time when lab-grown diamonds are casting themselves as viable commercial alternatives to real diamonds.

The mining company started using x-ray technology in 2015 to help locate and identify diamonds. "We do expect that we will recover more exceptional diamonds in excess of a thousand carats in size – but on a global basis, this is still an extremely rare and unusual event,” said Lucara's chief executive, Eira Thomas.

(Reporting by Mimosa Spencer in Paris; Editing by Vanessa O'Connell and Matthew Lewis)

MELBOURNE, Australia, September 19, 2021–(BUSINESS WIRE)–Rio Tinto has approved a new solar farm and battery storage at Weipa in Queensland, in a move that will more than triple the local electricity network’s solar generation capacity and help provide cleaner power to Rio Tinto’s operations.

Under the plans, EDL has been contracted to build, own and operate a 4MW solar plant and 4MW/4MWh of battery storage at Weipa. Work on the battery facilities will start this year, with construction of the whole project expected to be complete by late 2022.

The new solar farm and battery storage will complement the existing 1.6MW solar farm at Weipa, which was completed in 2015 and is also owned and operated by EDL. The 4MWh battery system will be built next to the existing Weipa power station and will help provide a stable power network for Rio Tinto’s Weipa Operations bauxite mines and the Weipa township.

Rio Tinto Aluminium Pacific Bauxite Operations General Manager Michelle Elvy said "The new solar farm and battery storage at Weipa will help us lower our carbon footprint and diesel use in a reliable way.

"The original Weipa solar farm was the largest solar facility at an off-grid Australian mine site at the time it was built, and it played an important role in showing the viability of renewable energy systems in remote locations.

"The new solar farm and battery storage system is part of Rio Tinto’s group-wide commitment to reduce emissions across our operations. There is clearly more work to be done, but projects like this are an important part of meeting our climate targets."

EDL Chief Executive Officer James Harman said "We welcome the opportunity to continue supporting Rio Tinto to reduce carbon emissions.

"EDL will be leveraging expertise from our hybrid renewable energy systems around Australia to deliver clean and reliable energy for Rio Tinto’s operations and the local community."

When complete, the combined 4MW solar capacity and 4MW/4MWh battery will provide about 11 gigawatt hours of energy annually. Combined with upgrades to the existing Weipa power generation network, the improvements will reduce Weipa Operations’ diesel consumption by an estimated 7 million litres per year and lower its annual carbon dioxide emissions by about 20,000 tonnes – the equivalent of taking more than 3,750 cars off the road.

Rio Tinto Weipa Operations will purchase electricity from EDL and the new solar plant will be connected directly to the Weipa electricity network.

More information on Rio Tinto’s climate targets can be found here.

riotinto.com

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Contacts

Please direct all enquiries to media.enquiries@riotinto.com

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Rio Tinto plc
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T +44 20 7781 2000
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Category: Weipa

BHP, Rio Tinto, Anglo American, Glencore, and Vale are now more disciplined in their spending and more vital for renewable power.

MELBOURNE, Australia, September 17, 2021–(BUSINESS WIRE)–Rio Tinto Iron Ore chief executive Simon Trott joined WA Health Minister Roger Cook today to open the Tom Price COVID-19 vaccination clinic aimed at boosting vaccination rates in the Pilbara, Western Australia.

The clinic, set up in partnership with Rio Tinto, WA’s Department of Health, WA Country Health Service and the Shire of Ashburton, will operate from 9am to 6pm at the Tom Price Community Centre from today through to 21 September. It will return in the coming weeks to enable the community to receive their second dose of the vaccine.

Vaccination bookings are available for all people who live or are currently in the region, including local and Aboriginal communities, Rio Tinto employees, contractors and their families. Walk-in appointments will also be welcomed.

Vaccine supply is sufficient to vaccinate the entire population of Tom Price over the age of 12, which is estimated to be about 3,000 people.

The WA Department of Health is also taking bookings for the Paraburdoo clinic, which is set to open to the community at Ashburton Hall on 23 September.

Rio Tinto is working with the WA Government to establish similar clinics in Pannawonica and Dampier, and stands ready to provide logistical support as required to assist with the vaccination rollout in remote Aboriginal communities.

The vaccination hubs at Perth Airport (T2 and T3) will open from 11 October, targeting workers returning to Perth, with bookings open from 27 September via rollup.wa.gov.au.

Rio Tinto is pleased to announce that the hubs will be available to Rio Tinto’s FIFO workforce who regularly travel to and from the Pilbara, as well as Western Australia’s wider FIFO mining industry who wish to utilise the facilities.

For further information or to make an appointment, visit rollup.wa.gov.au.

Rio Tinto Iron Ore chief executive Simon Trott urged all eligible community members in Tom Price to ‘roll up for WA’ and play their part in boosting vaccination rates in the Pilbara.

"We urge the local community to take advantage of having the clinic on their doorstep, and make an appointment as soon as possible. At the end of this blitz, we would love for Tom Price to be the most vaccinated town in Australia which would be a terrific outcome.

"By setting up and running the clinic in Tom Price, it allows the Department of Health to free up resources that can be used to prioritise vaccinations in remote Aboriginal communities, which is a vital part of WA’s pathway out of the pandemic.

"Rio Tinto is proud to work with the WA Government on this important partnership and will continue to look at ways to help to boost vaccination rates across regional WA."

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Please direct all enquiries to
Media.enquiries@riotinto.com

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Rio Tinto plc
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Rio Tinto Limited
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Category: Pilbara

Mining stocks came under renewed pressure in London on Friday, as iron-ore prices continued to slump amid China’s push to restrict steel production.

MELBOURNE, September 16, 2021–(BUSINESS WIRE)–On 2 March 2021 the Australian Taxation Office (ATO) issued Rio Tinto Limited with amended assessments related to the denial of interest deductions on an isolated borrowing used to pay an intragroup dividend in 2015. The borrowing was repaid in 2018.

The ATO has today issued further assessments in relation to the same transaction levying penalties of A$352m (US$257.9m) and reducing the original interest assessment from A$47m to A$27m (US$19.8m).

Borrowing to fund the payment of a dividend is a normal commercial practice. Rio Tinto is confident of its position and will dispute the primary tax and penalty assessments. In accordance with the usual practice Rio Tinto has paid 50% of the primary tax up-front as part of the objections process. Penalties and interest are not required to be paid until the primary tax matter is resolved.

Rio Tinto Limited paid more than A$8.4bn (US$6.4bn) of Australian income tax during the relevant period.

Please direct all enquiries to media.enquiries@riotinto.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210915006227/en/

Contacts

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

Category: General

Rio Tinto plc RIO and Caterpillar, Inc. CAT recently joined forces to develop zero-emissions autonomous haul trucks for use at one of Rio Tinto’s Western Australian mining operations. This marks a significant step in Rio Tinto’s mine automation and digitalization program, and the target of attaining net zero emissions by 2050. The move also highlights Caterpillar’s efforts in developing autonomous solutions for customers.

Both of the parties will work together to advance the development of Caterpillar’s future 220-ton 793 zero-emissions autonomous haul truck including the validation of Caterpillar’s emerging zero-emissions technology. Prototypes will be developed, tested, and undergo pre-production trials. It is anticipated that the world’s first operational deployment of approximately 35 new Caterpillar 793 zero-emissions autonomous haul trucks will be at Gudai-Darri, which is Rio Tinto’s most technically advanced iron ore mine in the Pilbara region, Western Australia. Rio Tinto intends to make Gudai-Darri one of the world’s most technologically advanced mines. Construction at Gudai-Darri continues to progress with production ramp-up on track for early 2022. Once completed, the mine will have an annual capacity of 43 million tons.

Earlier in June, Rio Tinto announced that it will deploy the world’s first fully autonomous water truck at its Gudai-Darri mine in partnership with Caterpillar. Water spraying is a vital part of mining operations and this new technology will enhance productivity by enabling digital tracking of water consumption, while cutting down water wastage. Rio Tinto has earmarked approximately $1 billion in investments over the next five years to get its operations down to net zero emissions by 2050.

Rio Tinto’s existing Autonomous Haulage System has improved safety by reducing the risks associated with operators working around heavy machinery. With the help of technology and automation, miners are bringing radical changes to mining operations to increase productivity, reduce cost and improve frontline safety. These efforts will help the industry meet its sustainability target by cutting down on carbon emissions, which is the need of the hour considering the severity of climate change.

Earlier this month, Brazilian miner Vale S.A VALE announced that it has started operating six autonomous haul trucks in Carajás — its largest iron ore complex in Brazil and plans to take it up to 10 vehicles by this year-end. This follows the success of the autonomous operation at Vale’s second largest mine, Brucutu, in Minas Gerais, Brazil, in 2016. Last month, BHP Group BHP announced a partnership with Caterpillar to develop and deploy zero-emissions mining trucks at BHP sites to reduce operational greenhouse gas emissions.

Last year, Newmont Mining Corporation NEM announced investment in implementation of the Autonomous Haulage System at Boddington mine in Australia to enhance safety and productivity, while extending mine life. Once operational, Boddington will be the first open pit gold mine in the world with a fully autonomous haul truck fleet.

Given its benefits to the miners, the driverless fleet is becoming increasingly popular among miners. The number of autonomous trucks is expected to surge over the next few years, thanks to major investments by miners globally. Capitalizing on this demand, Caterpillar is enhancing its autonomous capabilities and bringing innovative products into markets that provide it with a competitive edge in mining. The intensifying global focus on shifting from fossil fuels to zero emissions will require a huge amount of commodities. This is a win-win situation for both miners and mining equipment makers.

Caterpillar and Newmont currently carry a Zacks Rank #3 (Hold). BHP, Vale and Rio Tinto carry a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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SUDBURY, ON / ACCESSWIRE / September 15, 2021 / Northern Superior Resources Inc. ("Northern Superior" or the "Company") (TSXV:SUP) is pleased to announce that it entered into an agreement to acquire 100% of Kintavar Exploration Inc.'s (TSXV:KTR) Gaspard Nord mineral property. Located in the Chapais- Chibougamau gold- copper camp, the Gaspard Nord property ties onto the northern part of Northern Superior's large, 100% owned Lac Surprise mineral property (Figure 1).

Northern Superior's Lac Surprise gold property has within it, the recently discovered Falcon gold-silver zone, believed to be a 900m extension of the neighboring Vanstar/ IAMGold, 3.2M ounce (at 1.02 g/t Au) Nelligan gold deposit*. Lac Surprise's Falcon Zone remains open along strike to the west and at depth (see Northern Superior press release, August 17, 2021). This property also contains several reported gold showings (see Northern Superior Corporate presentation, www.nsuperior.com).

The Gaspard Nord property consists of 5 claims covering an area of 2.8km². This property overlies a portion of the Opawica Guercherville Deformation Zone (OGDZ) and the northeast-southwest Lac Doré Fault. The OGDZ hosts the Vanstar/ IAMGOLD Nelligan Gold deposit and Northern Superior's Falcon Zone, southwest of the Gaspard property. Northeast-southwest faults are thought to be an important characteristic associated with both the Nelligan gold deposit and the Falcon Zone. Of particular interest on the Gaspard Nord property, is the southern contact between a suite of volcanic rocks with metasediments of the OGDZ. Two gold occurrences and "B" soil horizon gold anomalies are reported at or near this contact (Huss, 2010).

Dr. T.F. Morris (PhD., P,Geo, FGAC, ICD.D), President and CEO of Northern Superior commented: "This property, containing highly prospective ground, is an excellent addition to the Lac Surprise land package. We have already initiated planning an exploration program to test the "B" Horizon anomalies and gold occurrences identified on the Gaspard Nord property. This program will extend onto the current northern part of the Lac Surprise property to provide an understanding of the gold potential west of the Falcon Zone."

Northern Superior has agreed to acquire 100% ownership of the Gaspard Nord property in exchange for 85,000 common shares of Northern Superior and the granting of a 2% net smelter return royalty ("NSR") on the property. Northern Superior will retain an option to buyback 1% of the NSR royalty for CAD$1,000,000. No finders fees will be paid in connection with the transaction and completion of this transaction is subject to regulatory and Board approval.

Qualified Person

Dr. T.F. Morris (P.Geo.) is a Qualified Person ("QP") within the meaning of National Instrument 43-101. Dr. Morris has reviewed, and approved information disclosed in this press release.

Note to readers: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.

*Reference for IAMGOLD/Vanstar's Nelligan 3.2MM Inferred Gold Resource: "Carrier, Alain (M.Sc., P.Geo); Nadeau-Benoit, Vincent (P.Geo); Fauvre, Stéphane (PhD., P.Geo). October 22, 2019. NI 43-101 Technical Report and Initial Resource Estimate for the Nelligan Project, Québec, Canada."

Reference Cited:

Huss, L. (2010). Propriété Vent d'Or, Exploration 2010. Corporation Minière Golden Share, GM65493, 59 pages.

About Northern Superior

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP, and the OTCQB VentureMarket under the symbol NSUPF.

For further information contact:

Thomas F. Morris PGeo., PhD., FGAC
President and CEO
Tel: (705) 525 ‐0992
Fax: (705) 525 ‐7701
e‐mail: info@nsuperior.com
www.nsuperior.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Figure 1. Location, Gaspard Nord property relative to the Lac Surprise property.

SOURCE: Northern Superior Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/664107/Northern-Superior-Expands-Land-Holdings-at-Lac-Surprise-via-Strategic-Acquisition-of-Kintivars-Gaspard-Nord-Property

Vancouver, British Columbia–(Newsfile Corp. – September 15, 2021) – Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) ("Canterra" or the "Company") is pleased to announce the definition of several new drill targets stemming from the results of the summer 2021 exploration program at the Wilding Gold project ("Wilding"). Canterra now looks towards the start of its fall drill program to test these new targets.

Highlights:

Surface rock and trench sampling has identified new drill targets in the vicinity the Red Ochre and Elm gold zones
- Six grab samples collected approximately 175 m northeast of the Elm Zone assayed between 0.06 g/t Au and 4.61 g/t Au
- At Red Ochre, grab and trench samples outline two clusters of gold mineralization, with values up to 0.8 g/t Au, located approximately 130 m to the south and 200 m to the southwest of the main Red Ochre Zone
Initial assay results from till sampling has identified a new gold target in the northeast of Wilding with two samples returning 113 and 134 ppb Au and nine samples assaying greater than 20 ppb Au
4 new drill targets identified through mapping and geophysical interpretation in combination with ground truthing over the summer

"Our summer exploration program has been critical for evaluating the prospectivity of the Wilding and Noel-Paul projects. Prospecting and trenching around the Red Ochre target has showed that gold mineralization is extensive within the volcanic units, with gold grades within the broader Red Ochre target area in the same order of magnitude as those from the original Red Ochre discovery trench. We now have clear drill targets that will aim to expand the Red Ochre Zone this fall," stated Chris Pennimpede, President & CEO of Canterra.

Canterra Minerals will host a live webinar with Adelaide Capital September 20, 2021:
https://us02web.zoom.us/webinar/register/WN_oRoxv8JCSSqGHJdqmY-d3g

Red Ochre and Elm Zone Targets
Trenching at Red Ochre has identified strongly altered and mineralized feldspar porphyry with channel samples one metre in length returning up to 0.8 g/t Au. This trench extends known Red Ochre mineralization 130m southwest of the original 2017 discovery trench. Prospecting of high priority targets outlined by GoldSpot Discoveries Corp. (see news release, July 14, 2021) has identified three zones of gold-bearing float, two of which have been located near the Red Ochre Zone, and one cluster of five boulders lies approximately 200m to the southwest. Gold values for five grab samples ranged from 0.05 g/t Au to 0.62 g/t Au. The second cluster of six boulders lies about 150m south of Red Ochre and approximately 150m east of the first cluster. Grab samples from the six boulders assayed from trace to 0.46 g/t Au. These results are consistent with reported values from the 2017 and 2021 diamond-drill programs (see news release, April 28, 2021), and extend the Red Ochre target by several hundred metres to the south-southwest.

At the Elm Zone, a cluster of gold-bearing boulders was located approximately 120m northeast of the original Elm Zone trench, in an area where thick till prevented historic trenching from exposing bedrock. Gold results from 5 grab samples returned gold values ranging from trace to 4.6 g/t Au. The closest drill hole (WL-21-44) lies approximately 100m to the southwest. These new boulders extend the Elm target area approximately 150m to the northeast and provide additional support for historical gold-in-till in the same area.

New Gold Target
Initial assay results from 214 till samples identified a new gold target in the northeast portion of the Wilding property, with nine of the samples assaying greater than 20 ppb Au, and two samples returning 113 and 134 ppb Au. Based on the interpretation of the airborne magnetics, this new target may represent the northeastern extension of the Valentine Lake Shear Zone, the major structure controlling mineralization at the adjacent Valentine Gold Project (Marathon Gold). Follow-up will test for structurally-controlled mineralization based on this hypothesis. These 214 samples represent a portion of the 1,219 till samples that have been collected from the Wilding and East Alder areas during the summer of 2021. The majority of the sample assay results are still pending (1,005 samples).

Figure 1 – Map of the central part of the Wilding gold project with rock sample results from summer 2021 field work

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/8054/96560_3874f6ce64ee19ea_001full.jpg

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Dr. Luke Longridge, Canterra's Vice President of Exploration, PhD, P.Geo., a Qualified Person as defined by NI 43-101.

About Canterra Minerals

Canterra is earning a 100% interest in the Wilding and Noel Paul Gold Projects, located 50km south, by logging road, from Millertown and directly northeast of Marathon Gold's Valentine Lake Gold Project in Central Newfoundland. The 285km² property package includes 50km of the northeastern strike-extension of the Rogerson Lake Structural Corridor, which hosts Marathon Gold's Valentine Lake deposits, Matador Mining's Cape Ray deposit, Sokoman's Moosehead discovery and TRU Precious Metals' Golden Rose and Twilight discoveries. A $2.75 million exploration program is underway, focusing on drilling and surface exploration on the Wilding Gold Project. This program will include additional diamond drilling on the existing zones and follow up trenching and diamond drilling on numerous targets identified from previous soil geochemistry sampling. Canterra's team has more than 100 years of experience searching for gold and diamonds in Canada and have been involved in the discovery of the Snap Lake diamond mine, in addition to the discovery of the Blackwater Gold deposit in British Columbia, Canada.

ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION

Chris Pennimpede
President & CEO
Additional information about the Company is available at www.canterraminerals.com
For further information, please contact: +1 (604) 687-6644
Email: info@canterraminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects.; the business and operations of the Company; unprecedented market and economic risks associated with current unprecedented market and economic circumstances due to the COVID-19 pandemic, as well as those risks and uncertainties identified and reported in the Company's public filings under its respective SEDAR profile at www.sedar.com. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96560

The FTSE 100 was struggling for a foothold on gains Tuesday, as its heavily weighted mining sector logged losses.

MELBOURNE, Australia, September 14, 2021–(BUSINESS WIRE)–Rio Tinto and Caterpillar have signed a Memorandum of Understanding (MoU) for Caterpillar’s development of zero-emissions autonomous haul trucks for use at one of Rio Tinto’s Western Australian mining operations.

The collaboration will see Rio Tinto work with Caterpillar to advance the development of the manufacturer’s future 220-tonne 793 zero-emissions autonomous haul truck including the validation of Caterpillar’s emerging zero-emissions technology.

Rio Tinto and Caterpillar will progress a series of development milestones to include a 793 prototype pilot program, testing and pre-production trials.

It is anticipated that the world’s first operational deployment of approximately 35 new Caterpillar 793 zero-emissions autonomous haul trucks will be at Gudai-Darri once development is complete. Gudai-Darri is Rio Tinto’s most technically advanced iron ore mine, in the Pilbara, Western Australia

Rio Tinto’s Chief Commercial Officer Alf Barrios said "Our ambition to reach net zero emissions across our operations is a priority. Reaching this ambition will require new and innovative solutions and partnerships with supplier partners like Caterpillar. This collaboration represents a small but important step on that journey.

"We look forward to working together to validate these zero-emissions haul trucks in just a few years’ time. The advanced technology at Gudai-Darri puts it at the forefront of new mining operations globally and we look forward to adding Caterpillar zero-emissions haul trucks to the site."

Caterpillar Group President Denise Johnson said, "The integration of autonomy with a zero-emissions fleet demonstrates Rio Tinto’s commitment to reach net zero emissions.

"By leveraging these technologies across their sites, Rio Tinto can more safely increase productivity, efficiency and be more sustainable. We are pleased to be part of Rio Tinto’s sustainability journey and look forward to building on our long-standing collaboration."

In June, Rio Tinto announced it would deploy the world’s first fully autonomous water truck at Gudai-Darri, which will also be produced by Caterpillar. Rio Tinto is assessing multiple project scopes for Gudai-Darri Phase 2 as part of an ongoing $44 million pre-feasibility study.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210914006181/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK
Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas
Matthew Klar
T +1 514 608 4429

Investor Relations, UK
Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Media Relations, Australia
Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, Australia
Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

MELBOURNE (Reuters) – Fortescue Metals Group has reached a deal with the Wintawari Guruma Aboriginal Corporation (WGAC) to oversee development of new mines at its Solomon Hub iron ore operations in Western Australia, the groups said in a statement.

The pact comes as miners revise the way they negotiate with traditional land owners, following Rio Tinto's destruction of culturally and historically important rock shelters last year.

The destruction cost Rio's chief executive and two senior leaders their jobs, sparked a public furore and a parliamentary inquiry set to deliver its findings next month. Last year, BHP set up a new heritage council with the Banjima people.

"Working collaboratively, we will ensure that Eastern Guruma people are active participants in the future development of mines on our country," Wintawari Chair Glen Camille said in the statement.

The arrangement would enable deeper consultation over protection of culturally significant sites while building a better future for the people, he added.

Formerly at loggerheads, Fortescue and WGAC are to form a co-management joint venture to develop the East and West Queens deposit that is part of the miner's Solomon hub, which has annual production capacity of 75 million tonnes of iron ore.

It will work on all stages of the mine development.

Fortescue delayed 2019 royalty payments to WGAC after the group missed its timeline for consent, though WGAC told the parliamentary inquiry it had been waiting for more information, as the area had numerous sacred sites.

The group was unhappy with how Fortescue preserved another site, as well as its approach. In February, Fortescue apologised to WGAC for clearing land on a heritage site without ensuring elders were present as had been agreed.

Mining tenements cover more than 93% of Eastern Guruma country, making it one of the most heavily explored regions in Australia, WGAC has said.

Fortescue runs the large Solomon mine and a rail line on Eastern Guruma country while Rio runs six mines and three rail lines. Both firms are seeking approval for significant expansion, WGAC said.

(Reporting by Melanie Burton; Editing by Clarence Fernandez)

(Bloomberg) — Argentina’s Mendoza province is in talks with some of the world’s top producers of potash to revive a mine that requires an investment of as much as $5 billion at a time of surging fertilizer prices.

Mendoza — better known for its exports of Malbec wine than its vast mineral wealth — took over the Rio Colorado potash project several months ago after years of wrangling with Vale SA. The Brazilian company pulled the plug in 2013 after spending $2.2 billion to build almost half the mine.

Provincial officials have since spoken to several would-be partners to finally put Rio Colorado into production, signing non-disclosure agreements with five of the world’s biggest producers of the crop nutrient, said Emilio Guinazu, director general of province-owned PRC SA, which holds the asset.

Luring investment to Rio Colorado 15 years after Rio Tinto first sought to develop it would be big win — not only for Mendoza, which has struggled to spur new mines because of environmental opposition, but for the whole country, where onerous business rules including capital controls have scared off investors. Guinazu says now is the time because prices of potash are rallying along with other fertilizers as strong demand from farmers collides with a slew of supply disruptions.

“A window of opportunity has begun to open that we don’t want to waste,” he said in an interview Wednesday.

U.S. sanctions against Belarus potash producers are jeopardizing mine expansion there, while pandemic- and hurricane-related shipping disruptions are slowing fertilizer trade. A decision last month by BHP Group to proceed with the $5.7 billion Jansen project in Canada after years of hesitation underscores the market’s buoyant long-term prospects.

Rio Colorado has potential to produce 4.5 million metric tons a year, similar to Jansen, which would require roughly $5 billion. This version of the project needs 500 miles of train track to be built or upgraded to get the potash to an Atlantic port for export to markets like Brazil.

A more likely scenario, Guinazu said, is to attract $1 billion for annual output of 1 million tons, which could be transported by truck, though Mendoza would be prepared to scale down even further just to get the project off the ground. An investment of $200 million would produce enough fertilizer for Argentina and its small neighbor Uruguay, he said.

The province wants to find an investor that would take a majority stake and operate the mine within 18 months. It’s currently looking for an adviser to guide the search.

Because of risks in Argentina, where markets are often intervened, investors need a strong stomach. But they can also be drawn in by specially-designed benefits. For instance, federal and provincial governments are in talks for legislation for oil and gas drillers in the Vaca Muerta shale patch to be able to increase sales abroad and to free some of those export revenues from capital controls. A similar mechanism is under discussion for miners, Guinazu said.

“Without a doubt, some of the benefits in the oil and gas bill are being studied for mining too,” he said.

More stories like this are available on bloomberg.com

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MELBOURNE (Reuters) – An executive with mining company Rio Tinto has played down damage to Indigenous Australian heritage, an Aboriginal group said on Thursday, in a submission to an inquiry into widespread destruction of sites of cultural significance.

A spokesman for Rio Tinto said the company declined to comment.

News emerged this year that Rio forerunner Hamersley Iron failed to protect artefacts belonging to the Wintawari Guruma Aboriginal Corporation (WGAC) that had been salvaged from its Marandoo iron ore project including 18,000-year-old evidence showing how people lived during the last Ice Age.

Those and other artefacts were thrown in a Darwin rubbish heap.

The group's complaint centres on a statement by Rio's head of Indigenous Affairs, Brad Welsh, who last month told the Juukan Gorge Inquiry: "We have not identified any evidence that Rio Tinto directed any disposal of artefacts," according to the submission.

The group said such comments showed Rio's "continued lack of regard and respect for Eastern Guruma cultural heritage".

"The comments clearly sought to downplay importance of the cultural material disposed and lessen Rio’s involvement and responsibility for what occurred," the group said in its submission.

Rio Tinto operates six of its 16 mines and three rail lines on the group's traditional lands.

Last year, Rio Tinto triggered a public outcry with the destruction of rock shelters in Western Australia that showed human habitation dating back 46,000 years, during iron ore mining operations.

Welsh told the inquiry that the world's biggest iron ore miner had not been able to put together a "complete picture" of the potential cultural or archaeological value of what was discarded, given the passage of time, and without knowing if its records were complete.

"However, we do recognise that decisions made on the management of these materials may not have adequately considered archaeological and cultural values in the analysis completed," he said, adding that current standards of analysis would be more comprehensive.

(Reporting by Melanie Burton; Editing by Robert Birsel)

(Bloomberg) — Argentina’s Mendoza province is in talks with some of the world’s top producers of potash to revive a mine that requires an investment of as much as $5 billion.

“A window of opportunity has begun to open that we don’t want to waste,” he said in an interview Wednesday.

The province wants to find an investor that would take a majority stake and operate the mine within 18 months. It’s currently looking for an adviser to guide the search.

“Without a doubt, some of the benefits in the oil and gas bill are being studied for mining too,” he said.

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

VANCOUVER, BC, Sept. 8, 2021 /CNW/ – (TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)

Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to announce that the Board of Directors has formally approved the Karowe underground expansion project (the "UGP"), following the Financial Close and satisfaction of all Conditions Precedent pursuant to the previously announced senior secured project financing debt package of US$220 million (the "Facilities") signed July 12, 2021 (link to news release). The Facilities include two tranches: A project finance facility of US$170 million to fund the development of the underground project, and a US$50 million working capital facility to re-finance the Company's existing debt and to support on-going operations. A utilization notice from the US$170 million project loan facility has been accepted and first funding for the Karowe underground expansion is expected to be received in mid-September. Capital costs for the UGP totaling US$534 million, will be met with funds from a combination of the Facilities, the projected cash flows from the Karowe open pit mine during the underground construction period, and the equity financings totaling C$41.4 million closed July 15 (link to news release), resulting in the UGP being fully financed. A full update on the UGP was released August 10 and can be found here. View PDF version.

Zara Boldt, CFO & Corporate Secretary commented: "We are delighted to have completed this significant milestone following the signing of loan documentation in mid-July. We would like to thank our Lenders and advisors for their efforts towards achieving Financial Close of the Facilities."

Construction efforts have ramped up since the Facilities documentation was executed in mid-July. Ventilation shaft pre-sinking has commenced with the completion of the first set of cover holes, and a total of 4 blasts occurring to date with continued drilling, mucking, and installation of ground support on a 24 hour basis. The ventilation shaft depth below the shaft collar is currently at approximately 17 meters. Mobilization to site of the remaining pre-sinking equipment and contractors is underway. Civil work on the remaining ventilation and production shaft infrastructure is progressing well, with mobilization of temporary generators and civils works associated with the generator pad completed.

Eira Thomas
President and Chief Executive Officer

Follow Lucara Diamond on Facebook, Twitter, Instagram, and LinkedIn

ABOUT LUCARA

Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100% owned Karowe Mine in Botswana. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company operates transparently and in accordance with international best practices in the areas of sustainability, health and safety, environment and community relations.

The information in this release is accurate at the time of distribution but may be superseded or qualified by subsequent news releases.

This information is information that the Company is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above at 2:00pm Pacific Time on September 8, 2021.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

Certain of the statements made and contained herein and elsewhere constitute forward-looking statements as defined in applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved and include, without limitation, projected revenues from production at the Karowe mine, diamond pricing assumptions and diamond market trends, the ultimate use of proceeds from the Facilities; the estimated capital cost and the duration of the construction period; the timing of any drawdowns under the Facilities; and, that the combination of funds from the Facilities, projected cash flows from open pit operations and funds from the equity financing in July will be sufficient to fully fund the UGP.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. These assumptions, opinions and estimates are subject to a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. The Company believes that expectations reflected in this forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be accurate and such forward-looking information included herein should not be unduly relied upon. There can be no assurance that such forward looking statements will prove to be accurate, as the Company's results and future events could differ materially from those anticipated in this forward-looking information as a result of those factors discussed in or referred to under the heading "Risks and Uncertainties" in the Company's most recent Annual Information Form and under the heading "Risk Factors" in the Prospectus, a preliminary version of which is available at http://www.sedar.com, as well as changes in general business and economic conditions, changes in interest and foreign currency rates, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, costs of power and diesel, acts of foreign governments and the outcome of legal proceedings, inaccurate geological and recoverability assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), and unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job actions, adverse weather conditions, and unanticipated events relating to health safety and environmental matters).

Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, and the Company does not assume any obligations to update or revise them to reflect new events or circumstances, except as required by law.

Lucara Announces Final Board Project Sanction for the Karowe Underground Expansion Project and Financial Close of Project Finance Facilities (CNW Group/Lucara Diamond Corp.)

SOURCE Lucara Diamond Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2021/08/c4654.html

Here are five stocks added to the Zacks Rank #5 (Strong Sell) List today:

AngloGold Ashanti Limited AU operates as a gold mining company. The Zacks Consensus Estimate for its current year earnings has been revised 22.5% downward over the last 30 days.

Intrusion Inc. INTZ develops, markets, and supports entity identification, data mining, cybercrime, and advanced persistent threat detection products. The Zacks Consensus Estimate for its current year earnings has been revised 37.9% downward over the last 30 days.

Rio Tinto Group RIO engages in exploring, mining, and processing mineral resources. The Zacks Consensus Estimate for its current year earnings has been revised 2.1% downward over the last 30 days.

Sorrento Therapeutics, Inc. SRNE is a clinical stage and commercial biopharmaceutical company. The Zacks Consensus Estimate for its current year earnings has been revised 38.5% downward over the last 30 days.

Priority Technology Holdings, Inc. PRTH provides merchant acquiring, integrated payment software, and commercial payment solutions. The Zacks Consensus Estimate for its current year earnings has been revised more than 100% downward over the last 30 days.

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Zacks Investment Research

KELOWNA, BC / ACCESSWIRE / September 8, 2021 / Diamcor Mining Inc. (TSXV:DMI), (OTCQB:DMIFF), (FRA:DC3A), ("Diamcor" or, the "Company") announced today that it has completed the installation of the first phase of planned upgrades ahead of schedule at the Company's Krone Endora at Venetia Project (the "Project"). The initial upgrades, originally targeted for completion by the end of September 2021, are aimed at providing the Company with the potential to increase the Project's processing volumes by up to 100%. The upgrades included the installation of a new materials handling step (scrubbing), improvement and expansion of the diamond concentration system, the installation of a new electronic diamond x-ray recovery unit, and various other refinements aimed at lowering water and power consumption on a per ton basis. All items of this first phase of upgrades are now operational and demonstrate their ability to achieve the desired processing volume increases. Final commissioning and minor refinements are expected to be completed over the coming weeks.

Phase One Expansion Highlights:

Log-Washer Installation. The log-washer unit has been installed and replaces the large rotary wet scrubber with an aim to improve the removal of unwanted grit and soils prior to the introduction of gravels to the diamond concentration step. This item has been tested to full capacity and has demonstrated its ability to exceed planned throughput expectations.
Dense Medium System Expansion ("DMS"). Expansion of the Project's DMS has been completed to effectively double throughput. A full recommissioning of the system was also successfully completed to ensure that efficient operation is not compromised at planned higher processing levels.
Water and Power Footprint Reduced. Additional streamlining of the Project's processing plant included the removal of redundant pumps and systems to reduce the water and power footprint. Continued processing efficiencies in this area are seen as an essential element needed to support future upgrades and processing increases at the Project.
Final Recovery Upgrades and X-ray Machine Installation. The addition of a new electronic X-ray diamond recovery machine was completed to support the phase one increases in processing volumes. Historical auditing of processed tailings highlighted a need to address final recovery inefficiencies, and thus the decision to implement upgraded technology in this area. Final commissioning over the next several weeks will ensure that increased volumes in this area are sustainable and diamond recovery is not compromised. Additional X-ray machines will also be added during the next phase of planned upgrades.
Improved Processing Flexibility. The considerably improved capabilities of the upgraded processing plant are also aimed at providing greater flexibility in addressing variations in the mineral deposit and the processing of various gravel types in the corresponding broader areas of the Project.
Support of Planned Phase Two Upgrades. The Company believes these initial upgrades will achieve the desired phase one goals as planned and serve as the building blocks for a planned second larger phase aimed at further enhancing throughput and processing volumes.

"We are very pleased with the efforts of our entire operational team under the direction of our COO, Dr. Kurt Petersen, and their ability to not only achieve these upgrades ahead of schedule, but also deliver the recent strong dollar per carat and gross revenue numbers to allow us to fund these efforts while dealing with the ongoing challenges of the COVID-19 pandemic", stated Mr. Dean Taylor, Diamcor CEO. "Our focus will now shift to demonstrating the benefits of these efforts and their potential to increase rough diamond recoveries and revenue growth moving forward".

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, the OTCQB International under the symbol DMIFF, and on the Frankfurt Exchange under the symbol DC3A. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

About the Tiffany & Co. Alliance

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About Krone-Endora at Venetia

In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers' flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project's total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade "Alluvial" basal deposit which is covered by a lower-grade upper "Eluvial" deposit. The deposits are proposed to be the result of the direct-shift (in respect to the "Eluvial" deposit) and erosion (in respect to the "Alluvial" deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor's exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta ("APEGA"). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews

Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Diamcor Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/663143/Diamcor-Announces-Completion-of-Phase-One-Upgrades

Iron ore prices have been on a downward spiral lately, due to China’s efforts to cut steel production and expectations of a pick-up in global iron ore supply.

Future prices for iron ore with 62% iron content, hit a nine-month low of $140.54 a ton on Sep 2. It eventually recovered to settle at $144.83 a ton on Sep 3. Iron ore prices are currently 34% below the high of $219.77 in July. Year to date, iron ore prices have declined 12%, which is in stark contrast to the rally of 70% witnessed last year. Robust demand in China stemming from the government’s measures to stimulate the economy from the COVID-19 slump amid concerns of supply shortage from Brazil had worked in favor of iron ore prices last year.

The tables seem to have turned this year, as China’s intensified focus on cutting down emissions has dealt a blow to the steel industry, which given its high energy consumption and outdated technology and equipment is one of the biggest contributors to pollution in the country. China is, thus, working toward reducing its crude steel output in 2021 from a year earlier. The China Iron and Steel Association (“CISA”) announced that in late August, the average aggregate daily crude steel output of large and medium sized steel enterprises in China was down 4% compared to mid-August, which highlights the impact of the implementation of production restrictions at steel mills.

Meanwhile, the Caixin China General Manufacturing PMI contracted for the first time since April to 49.2 in August 2021. It came below 50.3 in July and missed market estimates of 50.2. This was primarily due to measures to curb rising cases of the Delta strain, supply chain bottlenecks, and raw material cost inflation. Output shrank for the first time in 17 months and new orders declined at the steepest rate in 16 months. Exports sales contracted for the first time since February. Consequently, the lower demand in China and output recovery in Brazil have been weighing on iron ore prices.

Demand for Iron Ore to Remain Resilient

The World Steel Association projects steel demand to grow 5.8% in 2021 and reach 1,874 million. In 2022, steel demand is expected to go up 2.7% to reach 1,924.6 Mt. In China, steel demand is expected to grow 3.0% in 2021 but will decline 1% in 2022 due to the intensified environmental push. Meanwhile, steel demand will go up 8.2% and 4.2% in 2021 and 2022, respectively, in advanced economies. The ongoing recovery in automotive and construction sectors worldwide will drive demand for steel. In the United States, massive government spending to rebuild infrastructure including railroads, highways and bridges will significantly boost steel demand, thus raising the requirement of more iron ore.

3 Stocks to Keep an Eye on

We recommend these iron mining stocks that are well-poised to capitalize on the increase in demand for iron ore. These stocks have a Zacks Rank 3 (Hold) and a VGM Score of A. Our research shows that stocks with such a combination offer the best investment opportunities. They also have solid earnings growth projections.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Image Source: Zacks Investment Research

BHP Group BHP: In fiscal 2022, the company expects to produce between 249 Mt and 259 Mt of iron ore backed by productivity improvements at Western Australia Iron Ore operations. Efforts to make operations more efficient through smart technology adoption across the entire value chain will aid in reducing costs, thereby bolstering its margins. Its focus on lowering debt is commendable. The company’s exit of the petroleum business, investment in growth projects and decision to unify its dual-listed structure will aid growth as well. These factors have resulted in a share price appreciation of 18.8% over the past year. .

The company has a long-term estimated earnings growth rate of 4%. The Zacks Consensus Estimate for current fiscal earnings indicates year-over-year improvement of 37.8%. The consensus estimate has moved up 6% over the past 90 days.

Rio Tinto plc RIO: The company expects to produce at the low end of its range of 325 Mt to 340 Mt of iron ore in fiscal 2021. It boasts a world-class portfolio of high-quality assets and continues to strengthen it by increasing investment in high-value projects to ensure long-term growth. Rio Tinto is strengthening the portfolio further with its commitment to fund the high-quality Jadar lithium project, which signals its entry into the fast-growing battery materials market. The company remains focused on making its operations as efficient as possible through the use of technology and innovation, including automation. A strong balance sheet and a disciplined capital allocation support its ability to sustain production and increase investment in development projects (in high-return iron ore and copper), while delivering superior returns to shareholders. All of these factors have contributed to its share price gain of 24.6% in a year’s time.

The Zacks Consensus Estimate for fiscal 2021 earnings indicates year-over-year improvement of around 104%. The consensus mark has been revised upward by 5% over the past 90 days. The company has a long-term estimated growth rate of 3%.

Vale S.A VALE: The Brazilian miner expects to produce between 315 Mt and 335 Mt of iron ore in 2021. Backed by solid cash flow, Vale continues to lower debt and strengthen its balance sheet. The company also continues to invest in growth projects that will help it achieve annual iron ore production capacity of 450 Mt in the future. Vale is working toward transforming its base metals business, and believes it will attain 500 ktpy (kilo tons per year) with projects already in pipeline. Its ongoing efforts to improve productivity, introduce more high-quality ore in the market and control costs have been impressive, leading to a 72.8% surge in its share price over the past year. The company is also investing in its autonomous program in a bid to ensure safety in mining, reduce carbon footprint, improve efficiency and lower costs.

The company has a long-term estimated earnings growth rate of 30.7%. The Zacks Consensus Estimate for fiscal 2021 earnings suggests year-over-year growth of around 170%. The consensus mark has moved north by 6% over the past 60 days. The company delivered a trailing four-quarter earnings surprise of 14.3%, on average.

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(Bloomberg) —

A unit of Guinea’s military seized power and suspended the constitution, destabilizing a key source of the raw material used to make aluminum.

The head of special forces in the West African nation, Colonel Mamady Doumbouya, announced the takeover on state television on Sunday, imposed a curfew of 8 p.m. local time and urged the armed forces to back him. The action was taken to address financial mismanagement and corruption in Guinea under President Alpha Conde, he said, adding that the deposed leader is safe and has been in contact with his doctors.

“If you see the condition of our roads, of our hospitals, you realize that it is time for us to wake up,” Doumbouya said. “We are going to initiate a national consultation to open an inclusive and peaceful transition.”

Guinea vies with Australia as China’s largest supplier of bauxite, which is used to make alumina and eventually aluminum. The country shipped 82.4 million tons of the mineral globally last year, according to government data. Much of that went to China, which is the world’s biggest aluminum-consuming country.

Aluminium prices on the London Metal Exchange rose as much as 1.8% to $2,775.50 a ton, the highest since May 2011, before trading at $2,749. In China, futures jumped as much as 3.4% to the highest since 2006. Chinese aluminum stocks also rallied, with Aluminum Corp. of China shares up as much as 10% in Hong Kong.

The military takeover “might have a speculative impact on the price of aluminum but will have a bigger impact on the alumina price because it’s more immediately exposed to the event,” said Tom Price, head of commodities strategy at Liberum Capital Ltd. “It’s an event which will create a new risk of security to supply.”

Aluminum has jumped about 50% over the past year in London and is near the highest in a decade. Prices have rallied as a global economic recovery from the effects of the pandemic and Chinese output restrictions stoked demand. The energy-intensive aluminum industry has been targeted in China as the government seeks to conserve electricity and curb emissions, while a seasonal power crunch has also dented production.

Companies including United Co. Rusal have invested heavily to extract Guinea’s abundant iron-ore and bauxite reserves. Rio Tinto Group, the world’s largest miner, has been looking at ways to exploit Simandou, the biggest undeveloped iron-ore deposit. Johannesburg-based AngloGold Ashanti Ltd. owns the Siguiri gold mine in Guinea, its only asset in the country.

Rusal’s spokesman declined to comment on the military takeover, but said it could have an impact on output. Guinea accounted for about 9% of the alumina produced by Rusal in the first half of 2021, according to the company.

The U.S. State Department condemned the coup and called for a peaceful national dialogue to “enable a peaceful and democratic way forward for Guinea to realize its full potential.” United Nations Secretary-General Antonio Guterres also blasted the military takeover.

Leaders of two African blocs have pushed for the release of Guinea’s president. Leaders of the Economic Community of West African States also threatened sanctions against Guinea, Chairman Nana Akufo-Addo said in a statement.

The regional political and economic body “condemns with the greatest firmness, and also demands a return to constitutional order,” Akufo-Addo, who’s also Ghana’s president, added.

The African Union also called for its Peace and Security Council to meet urgently over the matter.

Doumbouya’s TV appearance bore a resemblance to a similar scene in August 2020, when a Malian junta removed President Ibrahim Keita after blaming him for the country’s socio-economic problems. And in April, Chad’s army seized power after the death of President Idriss Deby.

The military takeover in Guinea on Sunday came hours after heavy gunfire erupted near the presidential palace in the capital, Conakry, in the morning.

Conde’s government said in a statement before Doumbouya’s announcement that the presidential guard, backed by the nation’s security forces, had repulsed the attack by the “insurgents” and called for calm.

Conde, 83, was sworn in December for a third term in office, vowing to fight corruption. Initially hailed when he came to power in 2010 for ushering in democratic rule, he was allowed to run for a controversial third term last year after a referendum, backed by Russia, led to a change in the constitution.

A former educator, Conde has increasingly cracked down on opponents as opposition against his rule has grown.

(Adds aluminium price in fifth paragraph)

More stories like this are available on bloomberg.com

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Generally, when a single insider buys stock, it is usually not a big deal. However, when several insiders are buying, like in the case of Anglo American plc (LON:AAL), it sends a favourable message to the company's shareholders.

Although we don't think shareholders should simply follow insider transactions, we would consider it foolish to ignore insider transactions altogether.

See our latest analysis for Anglo American

The Last 12 Months Of Insider Transactions At Anglo American

Over the last year, we can see that the biggest insider purchase was by insider James Rutherford for UK£144k worth of shares, at about UK£24.30 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of UK£30.91. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.

Anglo American insiders may have bought shares in the last year, but they didn't sell any. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Insider Ownership

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. Anglo American insiders own about UK£109m worth of shares (which is 0.3% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

So What Does This Data Suggest About Anglo American Insiders?

It doesn't really mean much that no insider has traded Anglo American shares in the last quarter. But insiders have shown more of an appetite for the stock, over the last year. With high insider ownership and encouraging transactions, it seems like Anglo American insiders think the business has merit. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Our analysis shows 2 warning signs for Anglo American (1 is concerning!) and we strongly recommend you look at these before investing.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

Miners are bringing about radical changes to mining operations with the help of technology and automation, in an effort to increase productivity and efficiency, reduce costs, and improve frontline safety. More importantly, these efforts will help the industry meet its sustainability target by cutting down on carbon emissions, which is the need of the hour considering the severity of climate change.

To this end, Brazilian miner Vale S.A VALE announced that it has started operating six autonomous haul trucks in Carajás — its largest iron ore complex in Brazil and plans to take it up to 10 vehicles by this year-end. These autonomous trucks have the capability of moving 320 metric tons at a time. These have been undergoing tests in an isolated area in Carajás since 2019. Following the final testing phase at the N4E mine last week, the plan went live on Sep 1 this year. At the Carajás Complex, Vale already has four autonomous drills in operation. The company has plans to increase it to seven drills.

This follows the success of the autonomous operation at Vale’s second largest mine, Brucutu, in Minas Gerais, Brazil, in 2016. It was the first mine in Brazil to run with 100% autonomous operations. In July this year, the 13 haul trucks in operation at the mine achieved the milestone of moving 100 million tons of material since their introduction. Impressively, no accident has been reported by the trucks over the past five years as well.

The move is not only ensuring safety in mining but also aiding the company in attaining its goal of reducing carbon emissions by 33% until 2030. Autonomous trucks offer increased machine and tire life, higher speed than traditional vehicles while consuming less fuel. This leads to lower carbon dioxide and particulate emissions. They offer higher hourly productivity and will lower maintenance costs as well.

Vale has earmarked $34 million this year for its autonomous program. By the end of the year, 23 trucks, 21 drills and four stocking yards (stackers and reclaimers) will be in operation across the company in four Brazilian states (Pará, Minas Gerais, Maranhão and Rio de Janeiro).

Mining giant, BHP Group BHP has been operating a fully-autonomous truck fleet at its Western Australian Jimblebar mine since 2017. The site is now one of the safest operations in its portfolio, with significant events involving trucks at Jimblebar having dropped by more than 90% since the introduction of autonomous haulage. Following its success, BHP is implementing the transition of an autonomous fleet of up to 86 trucks at its Goonyella Riverside coal mine in Queensland in a phased roll out over the 2021-2022 period. The company has announced that it will introduce 20 autonomous trucks at its Newman East (Eastern Ridge) mine in Western Australia.

Rio Tinto plc Plc RIO boasts of the world’s first automated heavy-haul rail network named AutoHaul, which was capable of moving about one million ton of iron ore a day in 2019. About one-third of the haul truck fleet across its Pilbara sites is autonomous as well. It continues to expand its Autonomous Drilling System (ADS), which currently has a fleet of 26 production drills across seven sites. It intends to make the Gudai-Darri iron ore mine in Western Australia’s Pilbara region one of the world’s most technologically advanced mines. Rio Tinto has joined forces with Caterpillar Inc. CAT to deploy the world’s first fully autonomous water truck at the mine. Water spraying is a vital part of mining operations, thus, this will enhance productivity by enabling digital tracking of water consumption and cutting down water wastage. Caterpillar’s three water trucks will join Gudai-Darri’s fleet of Caterpillar heavy mobile equipment including autonomous haul trucks and production drills.

BHP, Vale, Rio Tinto and Newmont currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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KELOWNA, BC / ACCESSWIRE / September 2, 2021 / Diamcor Mining Inc. (TSX-V.DMI / OTCQB-DMIFF), ("Diamcor" or, the "Company") announced today that it continues to achieve significant results in its third tender and sale of rough diamonds recovered from the processing of quarry material at the Company's Krone Endora at Venetia Project (the "Project") held during August 2021. The results continue to demonstrate the potential for increased average dollar per carat values from the operational and processing refinements made by the Company, and from the recovery of larger gem quality rough diamonds in the special category (+10.8 carats).

Highlights of the Company's tenders and sales of rough diamonds to date in the quarter ending September 30, 2021 are as follows:

The total combined rough diamonds tendered and sold to date in the quarter ending September 30, 2021 is now 4,330.24 carats, which generated initial gross revenues of USD $1,023,842.11 for the quarter, and resulted in a combined average price of USD $236.44 per carat for the rough diamonds tendered and sold to date.
In an initial sale completed early in July 2021, a total of 1,560.39 carats of rough diamonds recovered from the processing of quarry material were sold, generating gross revenues of USD $271,509.02, resulting in an average price of USD $174.00 per carat for these diamonds.
In a second sale completed in late July 2021, an additional 1,429.15 carats of rough diamonds recovered from the processing of quarry material were sold, generating additional gross revenues of USD $472,576.28, resulting in an average price of USD $330.67 per carat for these diamonds.
In the third tender and sales of the quarter, recently completed in late August, an additional 1,340.70 carats of rough diamonds recovered from the processing of quarry material were sold, generating additional gross revenues of USD $301,812.96, resulting in an average price of USD $225.12 per carat for these diamonds.
All tenders and sales again included several rough diamonds in the specials (+10.8 carats) category.
The Company plans to offer additional rough diamonds for tender and sale in September of 2021.
Overall demand and pricing in a majority of the rough diamond assortments tendered and sold by the Company continue to meet or exceed expectations.

The size and quantity of special rough diamonds in the sales and tenders held to date in the current quarter ending September 30, 2021 are not seen as uncommon for the Project, which continues to demonstrate its ability to generate excellent dollar per carat results and revenues when processing quarry material.

"We are pleased with the continued strong dollar per carat and gross revenue numbers being achieved during the quarter despite currently operating on lower volumes due to the COVID-19 Pandemic", stated Mr. Dean Taylor, Diamcor CEO. "With the completion of our previously announced Phase 1 upgrades remaining ahead of schedule, we look forward to a potential increase in sales in the coming months. Now in the final stage of commissioning, the upgrades are targeted to increase processing volumes by up to 100%.

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

About the Tiffany & Co. Alliance

About Krone-Endora at Venetia

Qualified Person Statement:

On behalf of the Board of Directors

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

WE SEEK SAFE HARBOUR

SOURCE: Diamcor Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/662495/Diamcor-Announces-Results-of-Additional-Tender-and-Sales-in-Current-Quarter

When we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics that can help spot trouble early. Typically, we'll see the trend of both return on capital employed (ROCE) declining and this usually coincides with a decreasing amount of capital employed. Basically the company is earning less on its investments and it is also reducing its total assets. And from a first read, things don't look too good at Gem Diamonds (LON:GEMD), so let's see why.

Understanding Return On Capital Employed (ROCE)

If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Gem Diamonds:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)

0.13 = US$47m ÷ (US$414m – US$61m) (Based on the trailing twelve months to December 2020).

Thus, Gem Diamonds has an ROCE of 13%. In absolute terms, that's a pretty standard return but compared to the Metals and Mining industry average it falls behind.

View our latest analysis for Gem Diamonds

In the above chart we have measured Gem Diamonds' prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Gem Diamonds here for free.

What Can We Tell From Gem Diamonds' ROCE Trend?

There is reason to be cautious about Gem Diamonds, given the returns are trending downwards. About five years ago, returns on capital were 21%, however they're now substantially lower than that as we saw above. And on the capital employed front, the business is utilizing roughly the same amount of capital as it was back then. This combination can be indicative of a mature business that still has areas to deploy capital, but the returns received aren't as high due potentially to new competition or smaller margins. If these trends continue, we wouldn't expect Gem Diamonds to turn into a multi-bagger.

The Bottom Line

In summary, it's unfortunate that Gem Diamonds is generating lower returns from the same amount of capital. Long term shareholders who've owned the stock over the last five years have experienced a 47% depreciation in their investment, so it appears the market might not like these trends either. That being the case, unless the underlying trends revert to a more positive trajectory, we'd consider looking elsewhere.

If you'd like to know more about Gem Diamonds, we've spotted 2 warning signs, and 1 of them is potentially serious.

While Gem Diamonds isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

Vancouver, British Columbia–(Newsfile Corp. – August 31, 2021) – Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) ("Canterra" or the "Company") is pleased to announce the appointment of Dr. Luke Longridge to the position of Vice President, Exploration ("VPx"), bolstering its highly experienced technical team.

Dr. Longridge is an exploration geologist with more than 15 years of mineral exploration experience, with a focus on Canada and Africa. Dr. Longridge has spent the last three years as CSA Global's Senior Structural Geologist consulting on gold and other commodity exploration projects across the globe. Prior to joining CSA Global, Dr. Longridge worked with Bushveld Minerals Limited as Exploration Manager, involved in the discovery and development of several deposits. During his career, Dr. Longridge has managed exploration activities on a variety of deposit types and geologic terranes, developing a strong technical understanding of orogenic, epithermal and intrusion related gold systems.

"Luke brings a wealth of mineral exploration experience from across the globe in all types of gold deposit settings and has been successful in both expanding deposits and making discoveries in various mineralization settings from Africa to Canada. We are very excited to have him join the Canterra team and begin leading the fall drill program on the Wilding Gold Project on the island of Newfoundland," stated Chris Pennimpede, President & CEO of Canterra.

Dave T.W. Evans, Exploration Manager for Canterra, is set to retire this fall and will continue to contribute to the success of the Company as a Technical Advisor. Canterra would like to thank Dave for guiding the team through its first winter drill program in early 2021 and spearheading summer exploration work at Wilding.

About Canterra Minerals

ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION

Chris Pennimpede
President & CEO

Additional information about the Company is available at www.canterraminerals.com

For further information, please contact: +1 (604) 687-6644
Email: info@canterraminerals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94936

Every investor in Lucara Diamond Corp. (TSE:LUC) should be aware of the most powerful shareholder groups. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. Companies that used to be publicly owned tend to have lower insider ownership.

Lucara Diamond is not a large company by global standards. It has a market capitalization of CA$317m, which means it wouldn't have the attention of many institutional investors. Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. Let's delve deeper into each type of owner, to discover more about Lucara Diamond.

View our latest analysis for Lucara Diamond

What Does The Institutional Ownership Tell Us About Lucara Diamond?

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

As you can see, institutional investors have a fair amount of stake in Lucara Diamond. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Lucara Diamond's earnings history below. Of course, the future is what really matters.

We note that hedge funds don't have a meaningful investment in Lucara Diamond. Nemesia S.à.r.l. is currently the largest shareholder, with 19% of shares outstanding. For context, the second largest shareholder holds about 13% of the shares outstanding, followed by an ownership of 5.2% by the third-largest shareholder. Additionally, the company's CEO Eira Thomas directly holds 1.2% of the total shares outstanding.

A deeper look at our ownership data shows that the top 25 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.

Insider Ownership Of Lucara Diamond

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.

Shareholders would probably be interested to learn that insiders own shares in Lucara Diamond Corp.. It has a market capitalization of just CA$317m, and insiders have CA$11m worth of shares, in their own names. Some would say this shows alignment of interests between shareholders and the board. But it might be worth checking if those insiders have been selling.

General Public Ownership

The general public collectively holds 57% of Lucara Diamond shares. With this amount of ownership, retail investors can collectively play a role in decisions that affect shareholder returns, such as dividend policies and the appointment of directors. They can also exercise the power to vote on acquisitions or mergers that may not improve profitability.

Private Company Ownership

It seems that Private Companies own 25%, of the Lucara Diamond stock. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for Lucara Diamond you should know about.

If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

(Bloomberg) — Fortescue Metals Group Ltd. is planning to unveil targets for reducing the carbon footprint of its biggest customers, marking a shift in approach for the world’s no. 4 exporter of iron ore.

The firm will follow rivals including Rio Tinto Group and BHP Group in setting specific goals to cut so-called scope 3 emissions, which in Fortescue’s case are generated by steel-makers using the company’s iron ore. Founder and chairman Andrew Forrest was previously not in favor of setting such benchmarks.

“Fortescue resisted setting Scope 3 targets until it had a concrete plan that could really help its customers decarbonize,” Forrest said on the media call following the company’s annual results. More details, including the targets, will be unveiled by September 30.

Global resources companies are under increasing pressure to be more accountable for emissions beyond their own operations, with powerful investors including Norway’s $1.3 trillion sovereign wealth fund threatening to drop firms that don’t meet their environmental standards.

Efforts to reduce scope 3 emissions should focus on developing technology to make climate-friendly steel cheaper, Forrest said. He has previously predicted that the coal-fired blast furnace still dominating the steel industry will be obsolete by 2050, and is investing in projects to supply hydrogen that could help to decarbonize the sector.

Gas Powered

The company will set aside 10% of annual profit to invest in hydrogen, ammonia and other green industrial projects backed by renewable power, marshaled by its Fortescue Future Industries division. Forrest’s plan is to supply over 15 million tons of hydrogen, produced from renewable power, by 2030.

Rio Tinto said in February it would collaborate with customers to reduce the carbon intensity of steel-making by at least 30% by 2030, and aim for carbon-neutral steel-making by 2050. BHP Group also has targets for reducing scope 3 emissions.

Fortescue has been working with buyers “for some time” on reducing their emissions, Chief Executive Officer Elizabeth Gaines said on the same call. The Perth-based company is targeting net-zero greenhouse gases from its own operations by 2030, well ahead of a 2050 goal set by Rio and BHP.

Fortescue’s scope 3 emissions — the bulk of which come from the steel manufacturing process — were 252 million tons of CO2-equivalent in its 2021 fiscal year, according to its latest climate change report. That compares to gross operational emissions — scopes 1 and 2 — of 2.2 million tons.

More stories like this are available on bloomberg.com

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While prices for industrial metals like copper and iron ore have been weaker, Chris LaFemina, a mining analyst at Jefferies, is upbeat on the sector. Among diversified miners, BHP (ticker: BHP), at $66, is down 20% from its peak; Rio Tinto (RIO) is off 19%, to $75; Anglo American (NGLOY) is off 13%, to $21; and Freeport-McMoRan (FCX), a global copper producer, is down 21% from its peak to $36. Copper prices, down about 10% from their spring peak, to $4.33 a pound, have held up better than iron ore, which is off 40% from its high, to $145 a ton.

PERTH, Australia, Aug. 26, 2021 /CNW Telbec/ – Galaxy Resources Limited (ASX: GXY) (Company) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company's platform (ASX):

Merger of Galaxy and Orocobre Implemented

The announcement can be viewed at:

https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

SOURCE Galaxy Resources Limited

Cision

View original content: http://www.newswire.ca/en/releases/archive/August2021/26/c8739.html

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The Bottom Line

What Does The Institutional Ownership Tell Us About Lucara Diamond?

Insider Ownership Of Lucara Diamond

General Public Ownership

Private Company Ownership

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