(Bloomberg) — BHP Group Ltd. will accelerate the start of a $5.7 billion potash project in Canada as high gas prices and curbs on key exporters disrupt fertilizer supply chains.

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The world’s top miner, which is entering production of the crop nutrient to add exposure to population growth, has been searching for ways to speed up the project as the long-term outlook for fertilizer prices strengthens.

“We are working to bring forward Jansen Stage 1 first production into 2026 and are assessing options to accelerate Jansen Stage 2,” Melbourne-based BHP said Tuesday in a statement. Jansen’s first stage had previously been expected to commence in 2027.

Read more: The Vital Fertilizer That’s Driving Multibillion-Dollar Bets

BHP last year finally approved construction of the Jansen mine in Saskatchewan, Canada, after years of debate over the huge price tag. Jansen could operate for a century, and eventually grow to a scale that would rival the size of the company’s flagship Pilbara iron ore operations, according to BHP.

The producer had been reviewing options to accelerate the project’s timeline, Ragnar Udd, president of BHP’s Minerals Americas business, said in a May interview.

Fertilizers have become more expensive as a hike in natural gas prices — a crucial feedstock — has raised costs. Sanctions on Belarusian potash, and moves by China to rein in shipments have also tighten the market.

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BHP Group Ltd. has gone from lukewarm to hot on its Jansen potash mine in Saskatchewan, announcing Tuesday that it is working to accelerate first production by a year to 2026, and that it intends to speed up future expansions as potash prices continue to soar.

The Australian mining giant also reported in its year-end operational review that work on Jansen’s shaft, which already runs one-kilometre deep, was completed in June at a total cost of US$2.97 billion.

BHP says Jansen would initially produce 4.35 million tonnes of potash per year and has the potential to ramp up to around 12 million tonnes per year, making it one of the largest potash mines in the world. Officially, the mine has been under development for years, but BHP only committed to completing it in 2021, when CEO Mike Henry recalibrated the company’s portfolio towards “future-facing” commodities such as potash, a fertilizer that could be used to feed a growing world population, and battery metals for electrification.

“I’ve been clear that BHP needs to increase its exposure to future-facing commodities and that includes things like copper, nickel and potash,” Henry said in an interview with the Financial Post in 2020.

At that point, the company had already invested US$4 billion in the project, but Henry insisted that BHP was prepared to walk away based on potash prices.

Last August, BHP committed to fund all of the US$5.7 billion first phase. Although it has built a 97-metre tall headframe, BHP described the project in the operational review as only eight per cent completed, but confirmed that it is working to accelerate the timeframe for first production to 2026.

Earlier this year, BHP sold its petroleum business for $2.8 billion, and the company has said it will put its capital into potash instead.

“Today, in effect, we’re replacing our petroleum business with potash,” chief financial officer David Lamott said in May at the BMO Farm to Market Conference.

The Jansen mine has four stages, each capable of producing around 4 million tonnes of potash per year. Lamott said even if potash prices fell 50 per cent, “we’d be generating around US$4 to US$5 billion of EBITDA per year. For comparison, our petroleum business averaged around US$3 billion per annum over the past five years.”

Still, petroleum accounted for five per cent of the company’s annual earnings.

While oil prices have spiked in recent months, as part of the fallout from Russia’s invasion of Ukraine, so have potash prices. Western sanctions against Russia and Belarus, which account for 37.6 per cent of world potash production, pre-date the latest conflict and had already disrupted the global fertilizer market; the latest conflict exacerbated the situation.

In June, Saskatoon-based Nutrien Ltd., the world’s largest potash producer, said it would ramp up its annual production to 18 million tonnes by 2025, a 40-per-cent increase, as interim chief executive Ken Seitz warned that a global food crisis would soon affect tens of millions of people in the poorest countries.

“Our view is actually that the physical impact of this shortage in crop nutrients is going to start to be felt over the coming few months here,” Seitz said.

In June, the federal government committed to spending $100 million so that BHP could invest in technologies to reduce greenhouse gas emissions at Jansen.

Lamott has said Jansen, located 140 miles east of Saskatoon, could operate for a century.

“It has the pathway to become our next Western Australia Iron Ore or Escondida over the next few decades,” he said at the BMO Farm to Market Conference, referencing the company’s iron ore and copper mines, which underpin its current portfolio.

In addition to announcing that it is looking to begin production at Jansen in 2026 rather than 2027, BHP also said it wants to accelerate phase two of Jansen, which would add another 4 million tonnes of annual potash production. But it did not give a target date for that phase, which remains many years away.

In Canada, the company also noted that it had formed an alliance Midland Exploration Inc. and in April funded a nickel exploration program in Nunavik, Que.

• Email: gfriedman@postmedia.com | Twitter:

European stock markets climbed at the open as as Europe looks ahead to a key week on the political, monetary policy and energy market fronts.

The FTSE 100 (^FTSE) opened 0.6%, France’s CAC (^FCHI) rose 0.5% and Germany’s DAX (^GDAXI) climbed 0.5%.

In London, the blue-chip index was being led by the miners, which staged a rebound after the recent sell-off.

Topping the FTSE 100 was Antofagasta (ANTO.L), up 4.5% on the back of the reviving copper price. Following in its wake were Anglo American (AAL.L), up 3.3%, Glencore (GLEN.L) which rose 3% and Rio Tinto (RIO.L), up 2.8%.

Meanwhile, Haleon, the consumer healthcare product arm of GSK (GSK.L) started trading on Monday, becoming the biggest new listing in London in 2022.

Haleon has gone straight into the FTSE 100 index, where GSK also will remain. It will not be issuing new shares as part of its flotation. Rather, existing investors in GSK will get one share in the new company for each current one they own.

Haleon made its debut at 330p a share, valuing the business at £30.4bn

Direct Line (DLG.L) dropped 14% after it issued a profit warning. This also dragged down FTSE 100 rival Admiral Group (ADM.L).

Read more: UK house prices hit record high of £369,968 in July

S&P 500 futures (ES=F) were up 0.6%, Dow futures (YM=F) gained 0.4%, and Nasdaq futures (NQ=F) were 0.9% higher as trade began in Europe.

Asian markets finished higher as Chinese and Hong Kong shares made gains. The Hang Seng (^HSI) gained 2.4% in Hong Kong and the Nikkei 225 (^N225) rose 0.5% in Tokyo. The Shanghai Composite (000001.SS) climbed 1.4%.

Meanwhile, oil prices are hovering above the $100 mark. Brent crude oil (BZ=F) was trading at $104 on Monday after US president Joe Biden failed to secure output hike agreements with Saudi Arabia, the world’s top oil exporter.

Naeem Aslam, chief market analyst at Avatrade said: “Traders got one clear message from Biden’s recent visit to Saudi Arabia, during which president Biden spoke to a number of Arab leaders.

Read more: Company insolvencies jump 40% in June as firms struggle with costs

“The message is that it is OPEC+ that makes the oil supply decision, and the cartel isn’t remotely interested in what Biden is trying to achieve. OPEC+ will continue to control oil supply, and one country alone cannot determine the oil supply — at least that is the message that traders have taken from Biden’s visit to Saudi Arabia.”

Across the pond, the S&P 500 (^GSPC) rose 1.9% and the tech-heavy Nasdaq (^IXIC) jumped 1.7% at the end of last week. The Dow Jones (^DJI) climbed 2.1% as markets closed on Friday.

Watch: What is a recession and how do we spot one?

SANTIAGO, July 17 (Reuters) – Global miner BHP Billiton is likely to reconsider its investment plans in Chile, the world's No. 1 copper producer, if the government moves ahead with mining tax hikes, according to a report on Sunday.

The company was quoted by El Mercurio newspaper as saying in a statement that higher taxes would make Chile more expensive than other top mining jurisdictions like Australia, Canada and neighboring Peru.

"We have serious concerns with regards to the new royalties," the company said. "If the proposed royalty (hike) materializes, we would have to reevaluate our investment plans for Chile."

BHP did not immediately respond to a request for comment.

BHP is a major player in Chile, where it operates the world's largest copper mine, known as Escondida. In April, BHP said it was willing to invest another $10 billion in Chile over the years, but only if the regulatory and fiscal conditions were appropriate.

Chilean Finance Minister Mario Marcel has said that raising mining royalties is his "priority number one" and the top goal of the left-wing administration that was inaugurated earlier this year. The government wants to use the tax income to fund social programs.

The tax reforms, which also include a wealth tax on high earners among other provisions, aim to raise 4.1% of GDP over four years, with 0.7% going to a new guaranteed minimum pension fund.

Other global miners operating in Chile include Glencore , Anglo American, Freeport McMoRan and Antofagasta. (Reporting by Fabian Cambero; Editing by Cynthia Osterman)

Rio Tinto RIO iron ore shipments in the second quarter of 2022 rose 5% year over year to 79.9 million tons (Mt). Iron ore production was up 4% year over year to 78.6 Mt. Despite the impact of higher-than-average rainfall in May, continued focus on mine pit health and commissioning of Gudai-Darri supported production during the quarter under discussion. RIO announced that its most technologically advanced mine, the Gudai Darri mine in the Pilbara region, Western Australia, delivered its first ore in June. It marked the delivery of its first greenfield mine in more than a decade. The mine’s ramp-up is expected to increase iron ore production volumes and improve the product mix from Pilbara in the second half of this year.The total iron ore shipped by the company is 151.4 Mt for the first half of 2022, which reflects a 2% drop year over year. Iron production in the first half of this year was 150.3 Mt, 1% lower than the prior year. This was primarily due to the 6% decline reported in its first quarter production to 71.7 Mt. The company’s Pilbara operations had a challenging first quarter, as ongoing mine depletion was not offset by mine replacement projects. It was also impacted by delayed commissioning of Gudai-Darri and commissioning challenges at the Mesa A wet plant, which continued to impact production ramp-up at Robe Valley. COVID-19 constraints hampered labor supply.RIO reported bauxite production of 14.1 million tons in the second quarter, which was 3% higher year on year, driven by a solid operational performance at Weipa as a result of improved plant reliability at Amrun. Aluminum production was down 10% to 0.7 million tons due to reduced capacity at Kitimat smelter in British Columbia, following the strike that commenced in July 2021. Production at Boyne smelter in Queensland was impacted due to COVID-19-related unplanned absences. Mined copper production improved 9% year on year to 126 thousand tons due to higher material movement and higher grades and recoveries at Kennecott and Escondida, partly offset by lower grades and recoveries at Oyu Tolgoi as a result of planned mine sequencing.

Guidance for 2022

Rio Tinto expects Pilbara iron ore shipments (100% basis) in the range of 320 to 335 Mt in 2022. The mid-point of the range indicates a year-over-year rise of 2%. Bauxite production is expected to be 54-57 Mt compared with 54 Mt in 2021. Alumina production is anticipated between 7.6 Mt and 7.8 Mt, down from its prior range of 8.0 Mt and 8.4 Mt. Aluminium production is expected in the band of 3-3.1 Mt compared with the previously provided range of 3.1 to 3.2 Mt. RIO had produced 7.9 Mt of Alumina and 3.2 Mt of aluminum in 2021.Mined copper is forecast in the range of 500 kt to 575 kt for the year. The mid-point of the range indicates a 9% year-on-year growth. Refined copper is predicted between 230 kt and 290 kt, which indicates a 29% year-on-year growth at the mid-point. Diamonds production is projected to be 4.5-5.0 million carats, revised downward from the prior guidance of 5.0-6.0 million carats. Titanium dioxide slag production is expected to be 1.1-1.4 Mt.Brazilian miner Vale S.A VALE iron ore production guidance is at 320-335 Mt for 2022. The mid-point of the range suggests year-on-year growth of 4%. Pellet production is projected between 34 Mt and 38 Mt. Vale is set to release its second-quarter production report on Jul 19, 2021.BHP Group BHP expects to produce between 249 Mt and 259 Mt of iron ore in fiscal 2022. The mid-point of the range indicates in-line production from the prior-year levels.Rio Tinto, Vale and BHP Group are expected to bear the brunt of the recent drop in iron ore prices. Iron ore prices have fallen below $110 per ton — a level not seen since last December. Rising concerns about weak demand from top consumer China due to the recurring COVID-19 outbreaks and low profitability at Chinese steel mills continued to overshadow reports of a massive stimulus package and policy support pledges from the government. Mounting fears about a potential global recession-driven demand downturn have been weighing on the steel-making ingredient.

Price PerformanceZacks Investment Research

Image Source: Zacks Investment Research

In a year’s time, shares of Rio Tinto have fallen 34%, compared with the industry’s decline of 25.3%.

Zacks Rank & a Key Pick

Rio Tinto currently has a Zacks Rank #4 (Sell).A better-ranked stock worth considering in the basic materials space is Kronos Worldwide KRO, which flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Kronos has a projected earnings growth rate of 110% for the current year. The Zacks Consensus Estimate for KRO’s current-year earnings has been revised 61% upward in the past 60 days.Kronos has a trailing four-quarter earnings surprise of 24%, on average. KRO has gained around 17% in a year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report VALE S.A. (VALE) : Free Stock Analysis Report Rio Tinto PLC (RIO) : Free Stock Analysis Report Kronos Worldwide Inc (KRO) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

Suze Orman says this is the only asset class with a track record of ‘earning more than inflation’ — here are 3 simple ways to gain exposure now

With U.S. inflation hitting yet another multi-decade high ⁠— it reached 9.1% in June — Americans continue to see their purchasing power plummet.

But whether we’ve reached peak inflation or we’re heading into a recession, Suze Orman, personal finance expert, says you should still lean on stocks for the long haul.

“Over the long-term stocks have produced the best gains after factoring in inflation,” writes Orman in a blog post. “Bonds and cash struggle to keep pace with inflation; only stocks have a track record of earning more than inflation.”

Orman’s advice is sound. But some areas of the stock market perform better than others during periods of high inflation.

Whether you’re looking to invest thousands of dollars or just a bit of your savings, the following three sectors might give you an extra boost over the next few years.

Don’t miss

1. Banks

In her blog post, Orman says investors should be prepared for stocks to go through periods where their value dips.

But that also offers the chance to snap up more top-shelf stocks at bargain-bin prices. When the next pullback happens (and it will happen), there’s one place investors might want to look to first: banks.

Unlike the vast majority of other industries, banks tend to fare relatively well when the Fed tightens up because of their asset-sensitive nature. When interest rates rise, bank assets like bonds and loans tend to climb higher than their liabilities such as deposits.

Rising rates also mean that banks can earn a wider spread between what they pay out in savings account interest and what they earn from Treasuries.

Another great thing about buying bank shares is you don’t need to overthink it.

Just pick two or three of the country’s largest banks, like Bank of America, Citigroup and Wells Fargo, and you should have all the positive exposure to rising interest rates you need.

2. Insurance

Even when people slash their budgets to help offset rising prices, we know those auto and life insurance premiums will keep rolling in no matter what.

Which means although insurance may not be the most exciting industry, it’s a defensive business that can provide plenty of portfolio protection — especially since insurers typically earn better returns on their “float” when rates rise.

And on top of that, insurers often pay their shareholders dividends, which means you can count on a little extra cash a few times a year.

For those interested in investing in insurance, Chubb, Allstate and MetLife are some of the big, blue-chip names in the industry.

3. Precious metals

When it comes to investing in precious metals, these stock picks can be worth their weight in gold.

Gold and silver have long been considered safe haven assets, meaning when all else fails, their value doesn’t really tarnish.

You can always buy precious metal bullion or coins, but mining stocks and ETFs allow you to invest in the space at a low cost and without needing to find storage.

Moreover, large diversified mining companies like Rio Tinto and Freeport-McMoRan also dig up metals like copper, which is currently experiencing booming demand due to its role in electric vehicle production.

Historically, the best time to make money from metals is when inflation is poised to keep increasing — like right now.

What to read next

  • Sign up for our MoneyWise newsletter to receive a steady flow of actionable ideas from Wall Street’s top firms.

  • US is only a few days away from an ‘absolute explosion’ on inflation — here are 3 shockproof sectors to help protect your portfolio

  • ‘There’s always a bull market somewhere’: Jim Cramer’s famous words suggest you can make money no matter what. Here are 2 powerful tailwinds to take advantage of today

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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

Equinox Gold Corp. EQX engages in the exploration and development of mineral properties. The Zacks Consensus Estimate for its current year earnings has been revised 20% downward over the last 60 days.

BHP Group Limited BHP is a resources company that operates in Petroleum, Copper, Iron Ore, and Coal segments. The Zacks Consensus Estimate for its current year earnings has been revised 18.4% downward over the last 60 days.

Honda Motor Co., Ltd. HMC manufactures, and distributes motorcycles, automobiles, power products, and other products. The Zacks Consensus Estimate for its current year earnings has been revised 10.3% downward over the last 60 days.

View the entire Zacks Rank #5 List.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report Honda Motor Co., Ltd. (HMC) : Free Stock Analysis Report Equinox Gold Corp. (EQX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

It hasn’t been the best quarter for BHP Group Limited (ASX:BHP) shareholders, since the share price has fallen 24% in that time. Looking further back, the stock has generated good profits over five years. Its return of 56% has certainly bested the market return!

So let’s investigate and see if the longer term performance of the company has been in line with the underlying business’ progress.

Check out our latest analysis for BHP Group

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.

Over half a decade, BHP Group managed to grow its earnings per share at 46% a year. The EPS growth is more impressive than the yearly share price gain of 9% over the same period. So one could conclude that the broader market has become more cautious towards the stock. This cautious sentiment is reflected in its (fairly low) P/E ratio of 8.68.

The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).

earnings-per-share-growth

We like that insiders have been buying shares in the last twelve months. Even so, future earnings will be far more important to whether current shareholders make money. This free interactive report on BHP Group’s earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

What About Dividends?

It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for BHP Group the TSR over the last 5 years was 148%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!

A Different Perspective

While it’s never nice to take a loss, BHP Group shareholders can take comfort that , including dividends,their trailing twelve month loss of 1.0% wasn’t as bad as the market loss of around 4.0%. Longer term investors wouldn’t be so upset, since they would have made 20%, each year, over five years. It could be that the business is just facing some short term problems, but shareholders should keep a close eye on the fundamentals. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. To that end, you should learn about the 3 warning signs we’ve spotted with BHP Group (including 1 which shouldn’t be ignored) .

BHP Group is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on AU exchanges.

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

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MILAN, June 30, 2022–(BUSINESS WIRE)–Thoughtworks (NASDAQ: TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, today announced a strategic collaboration with lastminute.com, the European Travel-Tech leader in dynamic holiday packages.

lastminute.com will partner with Thoughtworks at a time when its business is rapidly resuming after the pandemic, and it is now back at full speed in delivering on its ambitious growth plans. To achieve this, its developer teams are evolving and growing in numbers, all in a very short timeframe and in a dynamic and complex technology landscape.

Thoughtworks will support lastminute.com in this exciting transformation phase, to continue to meet the rapid pace of change in the travel industry most effectively and create even more customer-centric experiences.

"At lastminute.com, we see ourselves as a tech company that travels. Every month we reach 60 million users via our websites and app and for us it is a business imperative to always make sure our clients have the best customer experience. The travel industry is continuously evolving and the global move to digitalization means we’ll increasingly grow our traffic, as more and more users search for and book their travel experiences online," said Corrado Casto, chief technology officer at lastminute.com. "The purpose of Thoughtworks, as stated on their website, is ‘To create an extraordinary impact on the world through our culture and technology excellence’. This is very much in line with my vision for our technology department, and I cannot wait to harness their thought leadership in software engineering to bring us one step closer to technology excellence."

The lastminute.com and Thoughtworks engineering teams will work side-by-side in a co-delivery setup on the most business-critical technologies and architectural challenges. The co-delivery work will be supported by coaching, training and mentoring sessions aimed at boosting lastminute.com’s ability to deliver engineering excellence and their ways of working.

"In the face of unpredictability and constant change, modern digital businesses such as lastminute.com have an advantage. They have learned to demand new levels of business agility and to continuously innovate," said Gautam Srusti, managing director at Thoughtworks Italy. "We’re excited to partner with lastminute.com as they continue to drive technology excellence and help people fulfill their aspirations as they return to traveling."

Supporting resources:

– ### – <TWKS915>

About lastminute.com lastminute.com is the European Travel-Tech leader in dynamic holiday packages. The company operates a portfolio of well-known brands such as lastminute.com, Volagratis, Rumbo, weg.de, Bravofly, Jetcost, Crocierissime and Hotelscan, with a vision to design the future of travel & tourism using digital technology as an enabler. The business is run in 17 languages and 40 countries, with more than 1,500 employees spread worldwide developing owned products and services aimed at powering the entire traveler journey for millions of people.

lastminute.com N.V. is a publicly traded company listed under the ticker symbol LMN on SIX Swiss Exchange.

About Thoughtworks Thoughtworks is a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. We are 11,000+ people strong across 49 offices in 17 countries. Over the last 25+ years, we’ve delivered extraordinary impact together with our clients by helping them solve complex business problems with technology as the differentiator.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220630005090/en/

Contacts

Media Aileen Pistorius, head of marketingEmail: aileen.pistorius@thoughtworks.com Phone: +39 02 124126310

Vancouver, British Columbia–(Newsfile Corp. – June 30, 2022) – Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (“Eastplats” or the “Company”) is pleased to announce that it has uploaded “An Independent Competent Person’s Report on the Crocodile River Mine (“CRM”), North West Province, South Africa” (the “Report”) dated January 1, 2022 on its website. The CRM is a platinum group metal (“PGM”) mine located 70 km north-northwest of Johannesburg in the North West Province and 7 km south of the town of Brits and situated on the western limb of the Bushveld Igneous Complex in an area of known structural complexity, the Brits Graben. The current mine lease area includes one operating mining section (the “Zandfontein Section”) and two development sections (the “Crocette Section” and the “Kareespruit Section”, respectively).

The Report has been updated, in preparation of the re-start of underground mining at the Zandfontein Section of CRM which was placed under care and maintenance in 2013. The resources and reserves updates of the Report apply to each of the Zandfontein Section, the Crocette Section and the Kareespruit Section. There are no material changes reflected in the Report as compared to the “NI 43-101 Technical Report on the CRM, North West Province, South Africa” dated January 1, 2022, which was filed on May 20, 2022 on SEDAR.

The Report has been filed on Eastplats’ website today. The Report was commissioned in order to comply with regulations of the Johannesburg Stock Exchange (“JSE”) for listed companies. The purpose of the valuation is to comply with the JSE Section 12 disclosure requirements for Mineral Companies. The Report has been prepared under the supervision of the following individuals, each of whom is independent of the Company and is a Competent Person as defined within the meaning of the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (2016 Edition) (“SAMREC”) and in terms of the specifications embodied in the Standards of the South African Code for the Reporting on Mineral Asset Valuation (2016 Edition) (“SAMVAL”):

  • Daniel (Daan) van Heerden, BEng (Min.), MCom (Bus. Admin.), MMC Pr. Eng., FSAIMM, AMMSA, Director of Minxcon (Pty) Ltd.

  • Uwe Engelmann, BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat., MGSSA, Director of Minxcon (Pty) Ltd.

  • Johan Odendaal, BSc (Geol.), BSc Hons (Min. Econ.), MSc (Min. Eng.), Pr.Sci.Nat., FSAIMM, MGSSA, Director of Minxcon (Pty) Ltd.

All requirements of the JSE Section 12.10 Listing Requirements and the SAMREC Code and SAMVAL Code have been complied with. The technical information in this news release was reviewed and approved by Daan van Heerden, Uwe Engelmann and Johan Odendaal who are Competent Persons as defined by SAMREC.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company’s properties are situated on the western and eastern limbs of the Bushveld Complex, the geological environment that hosts approximately 80% of the world’s PGM-bearing ore.

Operations at the Crocodile River Mine currently include re-mining and processing of its tailings resource to produce PGM and chrome concentrates from the Zandfontein tailings dam.

For further information, please contact:

EASTERN PLATINUM LIMITEDWylie Hui, Chief Financial Officer and Corporate Secretarywhui@eastplats.com (email)(604) 800-8200 (phone)

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “will”, “plan”, “intends”, “may”, “could”, “expects”, “anticipates” and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company’s most recent Annual Information Form available under the Company’s profile on www.sedar.com.

In particular, this press release contains, without limitation, forward-looking statements pertaining to highlights of the Report. These forward-looking statements are based on assumptions made by and information currently available to the Company. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, unanticipated problems that may arise in the Company’s production processes, commodity prices, lower than expected grades and quantities of resources, need for additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement, the “Cautionary Statement on Forward-Looking Information” section contained in the Company’s most recent Management’s Discussion and Analysis available under the Company’s profile on www.sedar.com. The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release may include certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board, which is incorporated in the CPA Canada Handbook. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company’s performance. Any such data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129550

Vancouver, British Columbia–(Newsfile Corp. – June 29, 2022) – Eastern Platinum Limited’s (TSX: ELR) (JSE: EPS)  (“Eastplats” or the “Company”) Board of Directors of the Company (the “Board”) is pleased to announce that it has appointed Mr. Wanjin Yang as the Company’s Chief Executive Officer, effective immediately. Mr. Yang is a senior exploration geologist with over 30 years’ of experience in major mineral exploration projects, corporate management, and corporate development. He previously was the Project Geologist at Whitehorse Gold Corp. working on its mineral exploration projects, new project acquisitions, and other corporate development work. Mr. Yang replaces Ms. Diana Hu, who has left the Company to pursue other endeavours.

Mr. George Dorin, Eastplats’ Chairman stated, “We are pleased to appoint Mr. Yang to lead the team as management executes the plan to re-start underground operations at the Zandfontein section of the Crocodile River Mine in South Africa. We look forward to working with Mr. Yang and hearing about his vision for the Company.”

Mr. Dorin further commented, “We thank Diana for her significant contributions as Chief Executive Officer over the past 6 years and wish her the very best in her new ventures.”

The Company also announces that Mr. Andrea Zhang has transitioned to a Vice-President role after serving as Chief Operating Officer.

For further information, please contact:

EASTERN PLATINUM LIMITEDWylie Hui, Chief Financial Officer and Corporate Secretarywhui@eastplats.com (email)(604) 800-8200 (phone)

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “will”, “plan”, “intends”, “may”, “could”, “expects”, “anticipates” and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company’s most recent Annual Information Form available under the Company’s profile on www.sedar.com.

In particular, this press release contains, without limitation, forward-looking statements pertaining to: the ability of the Company to restart Zandfontein underground mining, to do so in 2022 and the potential contributions of Mr. Yang as Chief Executive Officer. These forward-looking statements are based on assumptions made by and information currently available to the Company. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, unanticipated problems that may arise in the Company’s production processes, commodity prices, lower than expected grades and quantities of resources, need for additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement, the “Cautionary Statement on Forward-Looking Information” section contained in the Company’s most recent Management’s Discussion and Analysis available under the Company’s profile on www.sedar.com. The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129566

Warren Buffett famously said, ‘Volatility is far from synonymous with risk.’ So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. Importantly, Alphamin Resources Corp. (CVE:AFM) does carry debt. But the real question is whether this debt is making the company risky.

Why Does Debt Bring Risk?

Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. If things get really bad, the lenders can take control of the business. While that is not too common, we often do see indebted companies permanently diluting shareholders because lenders force them to raise capital at a distressed price. By replacing dilution, though, debt can be an extremely good tool for businesses that need capital to invest in growth at high rates of return. The first step when considering a company’s debt levels is to consider its cash and debt together.

View our latest analysis for Alphamin Resources

How Much Debt Does Alphamin Resources Carry?

You can click the graphic below for the historical numbers, but it shows that Alphamin Resources had US$5.96m of debt in March 2022, down from US$54.8m, one year before. However, it does have US$140.6m in cash offsetting this, leading to net cash of US$134.7m.

debt-equity-history-analysisHow Healthy Is Alphamin Resources’ Balance Sheet?

Zooming in on the latest balance sheet data, we can see that Alphamin Resources had liabilities of US$101.2m due within 12 months and liabilities of US$30.7m due beyond that. On the other hand, it had cash of US$140.6m and US$46.5m worth of receivables due within a year. So it actually has US$55.3m more liquid assets than total liabilities.

This surplus suggests that Alphamin Resources has a conservative balance sheet, and could probably eliminate its debt without much difficulty. Simply put, the fact that Alphamin Resources has more cash than debt is arguably a good indication that it can manage its debt safely.

Better yet, Alphamin Resources grew its EBIT by 324% last year, which is an impressive improvement. That boost will make it even easier to pay down debt going forward. The balance sheet is clearly the area to focus on when you are analysing debt. But it is future earnings, more than anything, that will determine Alphamin Resources’s ability to maintain a healthy balance sheet going forward. So if you’re focused on the future you can check out this free report showing analyst profit forecasts.

Finally, a company can only pay off debt with cold hard cash, not accounting profits. Alphamin Resources may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. During the last two years, Alphamin Resources produced sturdy free cash flow equating to 76% of its EBIT, about what we’d expect. This free cash flow puts the company in a good position to pay down debt, when appropriate.

Summing up

While we empathize with investors who find debt concerning, you should keep in mind that Alphamin Resources has net cash of US$134.7m, as well as more liquid assets than liabilities. And it impressed us with its EBIT growth of 324% over the last year. So is Alphamin Resources’s debt a risk? It doesn’t seem so to us. There’s no doubt that we learn most about debt from the balance sheet. But ultimately, every company can contain risks that exist outside of the balance sheet. For example – Alphamin Resources has 3 warning signs we think you should be aware of.

If you’re interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.

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

BHP has announced plans to tackle biodiversity loss, in a move that the world’s biggest mining company hopes will put it ahead of rivals in the race to secure the best mineral deposits in the shift to clean energy. The biodiversity goal is part of a wider “social value” scorecard published on Tuesday that includes plans for a revised strategy on indigenous relations and full adherence to a programme on combating sexual assault and harassment in 2023. “The scrutiny of our industry continues to be high and the expectations on us are also high,” said BHP’s chief external affairs officer Caroline Cox.

By Nick Carey

LONDON (Reuters) – UK startup Circulor, which uses blockchain technology to map supply chains for companies pursuing greener, more sustainable production, said on Tuesday it had raised $25 million to fund expansion, primarily in the United States.

The Series B funding round brings Circulor's fundraising over the last two years to $45 million. The funding round was led by early Tesla investor Westly Group and included investments from the venture capital arms of Volvo Cars, Jaguar Land Rover (JLR) and BHP Group, the world's largest listed miner.

Westly Group founder Steve Westly told Reuters that Circulor is "very much like Tesla," a pioneer in electric vehicles (EVs)that is the world's largest carmaker by market capitalisation.

"The market is going that direction in an extraordinarily rapid way… and Circulor is by far the leader in this sector," he said.

Circulor is working with carmakers including Volvo, Tata Motors unit JLR, plus miners and energy companies BHP and TotalEnergies, to trace their supply chains as they pursue environmental, social and corporate governance (ESG) goals.

BHP has used Circulor's blockchain platform to track the carbon emissions of nickel from the point when it was mined to Tesla's "gigafactory" in Shanghai.

Circulor CEO Douglas Johnson-Poensgen said demand for supply chain visibility has grown in response to regulatory pressure from the U.S. Securities and Exchange Commission (SEC).

Global supply chain disruptions have given manufacturers further reason to seek scrutiny over every stage of a component's journey.

"U.S. industry is increasingly interested in not just origin, but also demonstrating ESG performance because the SEC has made clear that the greenwashing and war of glossy brochures isn't good enough," Johnson-Poensgen told Reuters.

The U.S. government has also pushed for domestic EV battery production, which Johnson-Poensgen said will intensify the need for better supply chain mapping.

"Clearly the global arms race for battery materials is going to spread to the U.S. pretty quick," he said. "The one thing I think most folks can agree on is whatever the reason for supply chain visibility, it is now mission critical."

Johnson-Poensgen added that Circulor plans an initial public offering "in due course".

(Reporting By Nick Carey; editing by Barbara Lewis)

(Adds details from ruling, reaction)

By Ernest Scheyder

June 25 (Reuters) – A U.S. appeals court has ruled that the federal government may give thousands of acres in Arizona to Rio Tinto Plc for a copper mine, upholding a lower court's ruling and rejecting a request from Native Americans who said the land has religious and cultural import.

The 2-1 ruling from the San Francisco-based 9th U.S. Circuit Court of Appeals, issued late Friday night, essentially defers to a 2014 decision made by the U.S. Congress and then-President Barack Obama to give the land to Rio for its Resolution Copper project as part of a complex land swap deal.

Apache Stronghold, a nonprofit group comprised of members of the San Carlos Apache tribe and others, said it would appeal to the U.S. Supreme Court.

The Arizona dispute centers on the federally owned Oak Flat Campground, which some Apache consider home to deities and which sits atop a reserve of more than 40 billion pounds of copper. If a mine is built, it would create a crater 2 miles (3 km) wide and 1,000 feet (304 m) deep that would destroy that worship site.

Rio and minority partner BHP Group Plc have already spent more than $1 billion on the project without producing any copper.

While two judges said they were sensitive to Apaches' religious concerns, they stressed their ruling was narrowly tailored to the question about whether the government can do what it wants with its own land and whether the land transfer would prevent Apaches from practicing their religion.

"As we reach this conclusion, we do not rejoice. Rather, we recognize the deep ties that the Apache have to Oak Flat," the court said it its 58-page ruling. "This dispute must be resolved as are most others in our pluralistic nation: through the political process."

The dissenting judge said it was "absurd" and "illogical" to think the land swap would not impede Apaches' religious rights.

A bill under consideration in the U.S. Congress would undo the 2014 land swap, though its fate is unclear. President Joe Biden took steps to pause the land swap last year, though he has few options to delay it indefinitely.

"All the evidence suggests that the land exchange was meant to facilitate mineral exploration activities – nothing more and nothing less," the court said in the ruling. The proposed mine project comes as demand jumps for copper to make electric vehicles (EVs) and other electronic devices.

Wendsler Nosie, one of the leaders of Apache Stronghold, denounced the decision. "My children, grandchildren, and the generations after them deserve to practice our traditions at Oak Flat," he said.

Rio, which is based in Australia and Britain, said it would continue to talk with Apaches and others opposed to the mine. "There is significant local support for the project, however, we respect the views of groups who oppose it and will continue our efforts to understand, address and mitigate these concerns," said Rio spokesperson Simon Letendre.

Mila Besich, the Democratic mayor of Superior, the town closest to the campground, and a supporter of the mine, said she was relieved by the ruling. "The 9th Circuit ruling provides further confirmation that the permitting must continue," Besich said.

Representatives for BHP were not immediately available to comment. Terry Rambler, chairman of the San Carlos Apache tribe, was not immediately available to comment.

(Reporting by Ernest Scheyder Editing by Chizu Nomiyama)

Anglo American plc (LON:AAL) shareholders might be concerned after seeing the share price drop 19% in the last quarter. But that doesn’t change the fact that shareholders have received really good returns over the last five years. In fact, the share price is 217% higher today. Generally speaking the long term returns will give you a better idea of business quality than short periods can. Ultimately business performance will determine whether the stock price continues the positive long term trend.

Since the long term performance has been good but there’s been a recent pullback of 9.7%, let’s check if the fundamentals match the share price.

Check out our latest analysis for Anglo American

There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company’s share price and its earnings per share (EPS).

Over half a decade, Anglo American managed to grow its earnings per share at 42% a year. The EPS growth is more impressive than the yearly share price gain of 26% over the same period. So it seems the market isn’t so enthusiastic about the stock these days. This cautious sentiment is reflected in its (fairly low) P/E ratio of 5.60.

You can see how EPS has changed over time in the image below (click on the chart to see the exact values).

earnings-per-share-growth

We know that Anglo American has improved its bottom line over the last three years, but what does the future have in store? This free interactive report on Anglo American’s balance sheet strength is a great place to start, if you want to investigate the stock further.

What About Dividends?

As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It’s fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Anglo American’s TSR for the last 5 years was 318%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.

A Different Perspective

It’s good to see that Anglo American has rewarded shareholders with a total shareholder return of 25% in the last twelve months. And that does include the dividend. However, that falls short of the 33% TSR per annum it has made for shareholders, each year, over five years. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Case in point: We’ve spotted 3 warning signs for Anglo American you should be aware of, and 1 of them is a bit concerning.

If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on GB exchanges.

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

Vancouver, British Columbia–(Newsfile Corp. – June 23, 2022) – Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (“Eastplats” or the “Company”) announces the Board of Directors of the Company (the “Board”) has accepted the respective resignations submitted by Diana Hu and Michael Cosic, effective June 22, 2022, in accordance with the Company’s Majority Voting Policy (the “Policy”).

George Dorin, Chairman of the Company, stated, “On behalf of Eastplats, I would like to thank Ms. Hu and Mr. Cosic for their many insights and contributions to the Board over the last six years and we wish them the very best. Ms. Hu will remain the CEO & President of Eastplats and we will continue to focus on guiding the Company to restart Zandfontein underground mining in 2022.”

The Company is pleased to announce the appointments of Mr. Changyu (Charlie) Liu and Ms. Lisa Ng to the Board, to fill the vacancies left by Ms. Hu and Mr. Cosic.

Mr. Liu is the Chairman of Ka An Development Co. Limited (“Ka An”), a long-term shareholder of Eastplats. Mr. Liu’s career has been focused on business investments and international trade in China, Hong Kong, and North America. After completing his studies in accounting at Tianjin University of Finance and Economics in 1994, Mr. Liu started his career in the automobile sales and distribution sector. He was an early partner and investor in renowned technology companies. A decade ago, Mr. Liu began following the global mining industry. His current investments span across mining, automobile sales, banking, and shipping industries. Mr. Liu brings over two decades of expertise in business investment and financing enterprises. Ka An continues to be fully committed to ensuring the successful management and operation of the Company.

Ms. Ng is an accomplished CPA (Chartered Professional Accountant) with an extensive financial management background, including with several publicly traded mining companies. She has over 25 years of experience in mining, information technology, biotech, insurance, in a wide range of business sectors including the financial operations of multi-million dollar companies.

“On behalf of management, we are excited and welcome Mr. Liu and Ms. Ng to the Board,” commented Ms. Hu. “This will result in the Board being completely independent from management and will provide the Board with the insights, experiences and perspectives of a significant, long-term shareholder of the Company. We are confident that we can work together to increase the value of Eastplats.”

For further information, please contact:

EASTERN PLATINUM LIMITEDWylie Hui, Chief Financial Officer and Corporate Secretarywhui@eastplats.com (email)(604) 800-8200 (phone)

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “will”, “plan”, “intends”, “may”, “could”, “expects”, “anticipates” and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company’s most recent Annual Information Form available under the Company’s profile on www.sedar.com.

In particular, this press release contains, without limitation, forward-looking statements pertaining to: the ability of the Company to restart Zandfontein underground mining, to do so in 2022, potential contributions of Mr. Liu and Ms. Ng to the Board and any potential value of Eastplats. These forward-looking statements are based on assumptions made by and information currently available to the Company. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, unanticipated problems that may arise in the Company’s production processes, commodity prices, lower than expected grades and quantities of resources, need for additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement, the “Cautionary Statement on Forward-Looking Information” section contained in the Company’s most recent Management’s Discussion and Analysis available under the Company’s profile on www.sedar.com. The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128673

TORONTO, June 22, 2022–(BUSINESS WIRE)–Thoughtworks (NASDAQ: TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, today announced at Collision 2022 partnering with Holaluz, a Spanish green technology company listed on BME Growth since November 2019. Our work together aims to reduce Holaluz’s carbon footprint by identifying priorities to optimize its operations in the AWS cloud with Cloud Carbon Footprint.

According to Gartner®, "organizations are increasingly turning to outside experts for help with strategic and operational sustainability initiatives."1 In addition to implementing Cloud Carbon Footprint, one of the industry’s first multi-cloud carbon footprint tools, Thoughtworks worked alongside Holaluz’s IT organization to produce sustainability metrics for stakeholders. Cloud Carbon Footprint supports companies, such as Holaluz, to reconfigure, optimize or re-architect to reduce carbon emissions. It does this by breaking down emissions by region, service and project/team to help identify inefficient areas.

"From its founding almost a decade ago, Holaluz has been revolutionizing the electric power sector with a clear vision to connect people to green energy. We created Holaluz with the conviction that companies can be tools to change the world by leading the transformation of the Spanish energy sector with a commitment to the new model of distributed generation and differential supply in self-consumption," said Carlota Pi, CoFounder and Executive President at Holaluz. "This includes examining the environmental impact of our own operations. As a result, Holaluz has been recognized in 2020 as number one in the electric companies category by Sustainalytics, the world’s leading agency for ESG and corporate governance research and ratings. We are pleased to partner with Thoughtworks to adopt more sustainable strategies and technologies, such as green cloud optimization."

At the end of last year, Thoughtworks launched its Looking Glass report, a guide to critical technology-driven shifts, which provides organizations with the actionable insights needed to excel in the coming year. Notably, in its latest report, Thoughtworks presented the opportunities for companies to embed sustainability in more activities and practices and included reference to Holaluz’s experience.

"The cloud has enabled a new way of working, yet it brings with it a new, often overlooked, environmental cost. Measuring and tracking cloud-carbon footprint is a critical step to change the trajectory of emissions. With consumers and investors increasingly factoring sustainability into their decision-making, businesses have to measure and publish their progress in this area," said Elise Zelechowski, who leads Thoughtworks’ global sustainability strategy. "Across our business we seek out partnerships with sustainably-minded organizations and we’re particularly excited to partner with Holaluz, in support of their carbon-reduction mission/revolution."

Thoughtworks has made certain portions of Cloud Carbon Footprint available under an open source license to enable the whole industry to collaborate in supporting the United Nations Framework Convention on Climate Change Paris Agreement’s goal for the information communications technology (ICT) industry to reduce greenhouse gas emissions by 45 percent by 2030.

Supporting resources:

– ### – <TWKS915>

About Holaluz

Holaluz has the goal of a world powered by 100 percent green energy. This objective is advanced by persuading people to switch to a green energy plan made with 100 percent renewable energy. On average, Holaluz clients can make savings of 10 percent thanks to the intensive use of technology and a people focused business strategy which promotes a trusting relationship with clients.

Created with the conviction that companies can be tools to change the world, Holaluz leads the transformation of the Spanish energy sector with a commitment to the new model of distributed generation and differential supply in self-consumption. Holaluz is a benchmark company not only statistically but also in terms of quality and service innovation. Holaluz was the first electricity company to implement a simplified compensation package in the Spanish market with Holaluz Cloud, a programme that allows the deduction of surpluses from energy bills (in other words, the excess energy produced by solar panels that can’t be consumed in the moment).

At the heart of Holaluz’s strategy is the commitment to a new business model which gives employees flexibility and autonomy to carry out their responsibilities in a way that allows for a better work/life balance. Examples of this approach include goal based tasks and easy scheduling. This holistic business approach has helped Holaluz close in on its target of achieving parity of representation in all areas of the company. This development has come about almost completely organically. (It has only been necessary to apply quotas to the technology team where focus has been applied to gain 100 percent parity.) Holaluz has a positive impact on its employees, the community, and the wider environment. It was the first European power company to be B Corp certified. This authorisation of social and environmental performance beyond profit is shared with 2,400 other companies in 50 countries. Holaluz is also one of the founding companies of "Capitalism with a Conscience in Spain", a philosophy that recognises the innate potential for business to improve the world.

About Thoughtworks

Thoughtworks is a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. We are 10,000+ people strong across 49 offices in 17 countries. Over the last 25+ years, we’ve delivered extraordinary impact together with our clients by helping them solve complex business problems with technology as the differentiator.

1Gartner, Competitive Landscape: Sustainability Consulting, Aapo Markkanen, Chrissy Healey, Brendan Williams, published January 18, 2022. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220622005384/en/

Contacts

Media: Linda Horiuchi, global head of public relationsEmail: linda.horiuchi@thoughtworks.com Phone: +1 (646) 581-2568

Vancouver, British Columbia–(Newsfile Corp. – June 22, 2022) – Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (“Eastplats” or the “Company”) announces the voting results of the Company’s 2022 Annual General and Special Meeting of Shareholders held on June 21, 2022 (the “Meeting”). A total of 81,269,162 common shares were voted at the Meeting, representing 58.97% of the votes attached to all the outstanding common shares of the Company.

Detailed results of the vote held at the Meeting are set out below:

Business

Outcome of Vote

Votes For

Votes Against

Votes Withheld

1. To set the number of Directors

Approved

79,626,484(99.90%)

83,688(0.10%)

 

 

 

 

 

 

 

 

2. Resolution electing:

 

 

 

 

 

 

 

 

(a) Diana Hu;

Approved

25,443,954(31.92%)

54,266,218(68.08%)

(b) Michael Cosic;

Approved

25,439,554(31.92%)

54,270,618(68.08%)

(c) George Dorin;

Approved

70,441,773(88.37%)

9,268,399(11.63%)

(d) Bielin Shi; and

Approved

79,652,568(99.93%)

57,604(0.07%)

(e) Xin (Alex) Guan

Approved

70,437,873(88.37%)

9,272,299(11.63%)

as directors of the Company.

 

 

 

 

 

 

 

 

3. Resolution appointing PricewaterhouseCoopers LLP, as auditors of the Company for the ensuing year and authorizing the directors of the Company to fix their remuneration.

Approved

81,109,491(99.80%)

159,671(0.20%)

 

 

 

 

 

 

 

 

4. Resolution approving the continuation of the Company’s Stock Option Plan for a further three years.

Approved

73,098,311(91.71%)

6,611,861(8.29%)

 

Based on the voting results, all of the nominees proposed as directors and listed in the management information circular dated May 6, 2022 (the “Circular”) were elected as directors of Eastplats at the Meeting in accordance with applicable corporate law.

However, two directors (Diana Hu and Michael Cosic) had more votes withheld than were voted in their favour of their appointments to the Board. As a result, in accordance with the Company’s Majority Voting Policy (the “Policy”), these two directors have tendered their resignations from the Board of Directors of the Company (the “Board”), effective upon acceptance by the Board. The Board will refer such resignations to the Corporate Governance and Compensation Committee (the “Committee”) for consideration on whether or not to accept the resignations submitted by these directors. In accordance with the Policy, the Board shall accept such resignations unless the Committee determines that there are exceptional circumstances relating to the composition of the Board or the voting results that should delay the acceptance of such resignations or justify rejecting such resignations. The Board will issue a news release with its decision.

At the Meeting, Eastplats’ Stock Option Plan has been authorized for three further years, and the PricewaterhouseCoopers LLP were also re-appointed as auditors of Eastplats.

For further information, please contact:

EASTERN PLATINUM LIMITEDWylie Hui, Chief Financial Officer and Corporate Secretarywhui@eastplats.com (email)(604) 800-8200 (phone)

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128541

(Updates with BHP comment on royalty hike)

By Harish Sridharan

June 22 (Reuters) – Queensland's bigger-than-expected hike in coal royalties could embolden other Australian states and resources-heavy countries around the world to make similar moves, analysts warned on Wednesday.

Australia's second-largest state, which aims to deliver a budget surplus by 2024-25, said on Tuesday it would increase royalties on coal production after a 10-year freeze, to capture windfall profit from rocketing coal prices.

The move promises an extra A$1.2 billion ($836 million) in 2023 financial year taxes for the state that's home to coal mines owned by industry leaders like BHP Group Ltd, Glencore PLC, Anglo American PLC and Peabody Energy Corp.

"We had expected QLD (Queensland) to increase royalties but the magnitude of the increase & the lack of consultation with the mining industry in our opinion sets a concerning precedent, especially when many governments are looking to balance budgets post-COVID," analysts at UBS said in a note.

Resources lobbies in Queensland slammed the move, saying it would compound the tax burden on coal producers who already pay double the royalty rate in Australia's other major coal-producing state, New South Wales (NSW).

"The cost of doing business in Queensland is already high, and further cost pressures will discourage investment, operational growth, job creation and local business spending," Edgar Basto, President Minerals Australia at BHP, said in an emailed statement to Reuters.

While NSW left its rate unchanged, analysts said they would be keeping an eye out for the Commonwealth Budget in October to see if there were any plans to lift rates for iron ore or other miners, considering the boom most commodities saw recently in the wake of the Russia-Ukraine conflict.

"While NSW did not follow the Queensland government's decision to hike royalties, record high commodity prices and ongoing budget deficits could pressure other governments to raise mining taxes," Australian brokerage firm Barrenjoey said.

UBS also flagged the risk of other mining countries like Chile, Peru, Canada and Zambia raising taxes over the next two years after Queensland's move.

Chile, a major copper producer, is already set to push forward its tax reform plans that include a bill on mining royalties, while Indonesia announced plans of raising royalty tariffs on tin production earlier this week.

(Reporting by Harish Sridharan and Sameer Manekar in Bengaluru; Editing by Subhranshu Sahu)

(Bloomberg) — Australia’s coal mines cause more planetary warming in a typical year than emissions from all of the country’s cars. If Prime Minister Anthony Albanese wants to meet tougher climate targets, he’ll need to fix that.

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Satellite observations suggest the best place to start is the Bowen Basin, the major coal hub in Queensland state, and an area where scientists have estimated the methane intensity per unit of production is 47% higher than the global average.

A satellite earlier this month spotted a plume of the potent greenhouse gas that geoanalytics firm Kayrros SAS estimated originated within about 25 kilometers (15.5 miles) of coal mines operated by Anglo American Plc, Stanmore Resources Ltd. and BHP Mitsubishi Alliance, known as BMA. The former two companies didn’t answer questions from Bloomberg asking if their mines emitted methane the day of the satellite observation. BMA said it estimates and publicly reports emissions in accordance with national requirements.

“Methane leaking from coal mines has been ignored for many years, but tackling it is the ‘low hanging fruit’ in Australia’s effort to combat climate change,” Sabina Assan, an analyst with environmental think tank Ember, wrote in a report released this month.

The Bowen Basin has become a global example of the disparity between reported coal mine methane emissions and independent measurements, according to the report. The powerful green house gas can leak from underground and open-cut coal mines and has 84 times the warming power of carbon dioxide during its first two decades in the atmosphere.

The most recent release, observed on June 3rd by the European Space Agency’s Sentinel-5P satellite, was estimated to have an emissions rate of about 12 metric tons of methane an hour and could have come from several mines, according to Kayrros. Coal production typically runs 24 hours a day, so methane is often emitted constantly from mines. Release levels might fall during maintenance, or rise if miners hit a gas pocket. If the rate estimated by Kayrros was consistent for a year, the gases would have the same short-term warming impact as the annual emissions from roughly 1.9 million US cars.

Australia’s new government, voted into office last month, on Thursday confirmed an election pledge to lower carbon emissions by 43% from 2005 levels by 2030, tightening a previous commitment for cuts of 26%-28%.In February, Australia disclosed it had revised the method used to calculate methane pollution from open-cut coal mines and said the change means total national emissions were on average 0.3% higher than previously stated for each year since 1990. That revision was prompted by the use of satellite data, which has improved capacity to estimate emissions, the government said.

The change isn't currently reflected in national greenhouse gas reporting legislation.

BMA, which did not use the updated methodology, said based on site-specific measurements of methane and CO2 content in the coal seams and surrounding strata at its Broadmeadow, Peak Downs and Caval Ridge mines cumulatively emitted about 3.32 metric tons of methane an hour on June 3.

Read more: The Cheap and Easy Climate Fix That Can Cool the Planet FastWhen contacted about the June 3 release, Australia’s Department of Industry, Science, Energy and Resources didn’t say if it was aware of the emissions or investigating them. “Making reliable, ‘top-down’ estimates of emissions from the satellite data is difficult for a number of reasons, including challenges associated with a lack of ground-truthing, instrument and modelling errors, and attribution,” the department said.The agency emphasized that coal-mine operators are required to estimate and report company and facility level greenhouse gas emissions under reporting guidelines and that the country’s Clean Energy Regulator publishes reported emissions data annually.

But Australia has had problems with some operators who report their own emissions. Peabody Energy Corp. said in January it had made errors in data filed to the local regulator, and appointed an auditor to review its processes.In Australia’s latest report to the United Nations, the government reported that active and abandoned coal mines released about 1 million tons of methane in 2020, while cars generated about 40 million tons of carbon dioxide.

(Updates to add BMA comment from third paragraph.)

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©2022 Bloomberg L.P.

(New throughout, adding Vale and BHP statement saying Samarco is not for sale, sources confirming talks and creditors responding to criticism of its restructuring plan)

By Tatiana Bautzer

SAO PAULO, June 20 (Reuters) – Miners Vale SA and BHP Group said in a joint statement on Monday they are not interested in selling their joint venture Samarco, after reports of the interest of Brazilian steelmaker Companhia Siderurgica Nacional (CSN).

"BHP Brasil and Vale say Samarco is not for sale and reaffirm its support for the restructuring plan filed by the employees' unions," the companies said in a joint statement.

The statement added the companies are "focused on the mediation hearing in the bankruptcy process" scheduled for Tuesday.

CSN is drafting an offer to acquire miner Samarco Mineracao SA, which will be presented by its adviser RK Partners to the bankruptcy court judge overseeing its debt restructuring, two people with knowledge of the matter said.

RK Partners has reached out to Samarco shareholders Vale and BHP Group, along with unions and financial creditors, the sources said. One of the sources said Vale has already told CSN the company is not interested in selling Samarco.

A key problem to reach an agreement is financing Samarco's liabilities related to its 2015 disaster in the city of Mariana. Shareholders, which have committed to pay for damages, may resist any proposal to give up control of operations while keeping that liability.

A mediation hearing was scheduled by the judge overseeing Samarco's bankruptcy between two groups presenting competing restructuring proposals, one led by financial creditors and the other by the employees' unions with the support of Vale and BHP.

According to a document filed by Samarco with the bankruptcy court and seen by Reuters, the miner is asking the bankruptcy judge to reject the plan proposed by creditors for "inconsistencies."

Samarco's lawyers say the 96% reduction in the 23 billion real ($4.5 billion) shareholders credit with the company is subject to tax and would create a $1.5 billion tax liability that was not assessed in the plan.

In a statement, the group of creditors said Samarco's analysis about the plan is incorrect and said that reducing the "undue" credit with shareholders will not create tax liabilities.

($1 = 5.1481 reais) (Reporting by Tatiana Bautzer Editing by Brad Haynes, Marguerita Choy and Lisa Shumaker)

SAO PAULO, June 20 (Reuters) – Brazilian steelmaker Companhia Siderurgica Nacional (CSN) is drafting an offer to acquire miner Samarco Mineracao SA, which will be presented to the bankruptcy court judge overseeing its debt restructuring, a person with knowledge of the matter said.

CSN hired restructuring firm RK Partners to draft a proposal to buy control of Samarco, the source said, requesting anonymity to disclose private discussions. Brazilian newspaper O Globo reported on Sunday CSN's interest in Samarco.

RK Partners is reaching out to Samarco shareholders Vale SA and BHP Group Ltd, along with unions and financial creditors, the source said.

An agreement may not be easy, according to the source, due to Samarco's liabilities related to its 2015 disaster in the city of Mariana. Shareholders, which have committed to pay for damages, may resist any proposal to give up control of operations while keeping that liability.

Samarco and Vale did not immediately respond to requests for comment. BHP and press representatives for the group of financial creditors declined to comment.

The judge overseeing Samarco's bankruptcy has scheduled a mediation hearing for Tuesday between two groups presenting competing restructuring proposals, one led by creditors and the other by the unions with the support of Vale and BHP. (Reporting by Tatiana Bautzer Editing by Brad Haynes and Marguerita Choy)

BHP Group BHP recently announced that it has not received a viable offer for its New South Wales Energy Coal (“NSWEC”) unit and plans to retain it and continue mining up to the end of fiscal 2030. With the mining consent for the operation to expire in 2026, BHP is currently working toward acquiring the relevant approvals for the same.For the past two years, BHP has been exiting some of its lower-grade metallurgical coal and energy coal assets as it seeks to reduce emissions and streamline its portfolio. In sync with this, in January 2022, BHP concluded the sale of its 33.3% stake in the Cerrejón joint venture in Colombia for $294 million in cash. In May, the company divested its 80% interest in BHP Mitsui Coal Pty Ltd, an operated metallurgical coal joint venture in Queensland.  A trade sale process for NSWEC had also been initiated but the company failed to find a buyer. Per the company’s assessment of resource economics, geotechnical profile and future investment requirements, continuing operating the mine seems to be more financially viable than divesting the asset.BHP is currently working on the application for relevant approvals with the New South Wales and Australian governments to support mining at NSWEC, which includes the Mt Arthur coal mine near Muswellbrook, until 2030. This will also include plans for the closure of the asset, including rehabilitation and determining the most appropriate use of the land post-mining. Post-closing, rehabilitation is expected to take around 10 to 15 years. The company has earmarked $700 million for the closure of the mine.In the nine-month period ended Mar 31, 2022, the NSWEC unit produced 9.8 million tons (Mt) of thermal coal. The guidance for energy coal production for fiscal 2022 is 13 to 15 Mt. The NSWEC unit’s costs are predicted between $76 per ton and $81 per ton, higher than the $62-$70 per ton range expected earlier. The revision reflects a targeted increase in the proportion of higher-quality coal to capture more value from record-high prices for higher-quality thermal coal. Higher-quality products now make up almost 90% of sales compared with approximately 65% sales earlier.This move will help the company capitalize on the recent increase in coal prices, which has been supported by a tightening market following Russia’s invasion of Ukraine and unprecedented economic sanctions. The EU’s ban on oil and coal imports from Russia has thrown the global energy market into chaos. Meanwhile, iron ore prices have tumbled to $135 per ton on the fear of weak demand in China, the world’s top steel producer on renewed COVID-19 outbreaks in China.

Price Performance

BHP shares have fallen 14.6% over the past year compared with the industry’s decline of 11.1%.

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Image Source: Zacks Investment Research

Zacks Rank & Stocks to Consider

BHP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Some better-ranked stocks in the basic materials space are Allegheny Technologies Inc. ATI, Cabot Corporation CBT and Nutrien Ltd. NTR.Allegheny has a projected earnings growth rate of 1,030.8% for the current year. The Zacks Consensus Estimate for Allegheny’s current-year earnings has been revised 40% upward in the past 60 days.Allegheny has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has rallied around 16% in a year and currently sports a Zacks Rank #1.Cabot, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 29.5% for the current year. The Zacks Consensus Estimate for Cabot’s earnings for the current year has been revised 12.1% upward in the past 60 days.CBT has a trailing four-quarter earnings surprise of 16.2%, on average. Cabot has rallied around 6% in a year.Nutrien has a projected earnings growth rate of 174.6% for the current year. The Zacks Consensus Estimate for Nutrien’s current-year earnings has been revised 30.7% upward in the past 60 days.Nutrien has a trailing four-quarter earnings surprise of 5.8%, on average. NTR has rallied 48.5% in a year. The company sports a Zacks Rank #1.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report To read this article on Zacks.com click here. Zacks Investment Research

(Bloomberg) — BHP Group u-turned on its plan to exit from thermal coal, after surging prices made the assets more valuable and a shift in investor attitudes has reduced pressure on the company to stop mining the dirtiest fuel.

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The world’s biggest resources companies and their shareholders have been grappling for years with the question of whether to get out of the fossil-fuel business. BHP already sold out of a giant coal mine in Colombia and its biggest rival, Rio Tinto Group, completely exited coal years ago, while top shipper Glencore Plc says it will hold onto its mines until they run out of coal sometime before 2050.

Investors Pushed Mining Giants to Quit Coal. Now It’s Backfiring

Now investors are growing increasingly wary of the unintended consequences of divestment, especially as spiking energy prices make it a lucrative business for new owners — meaning more coal could end up being produced for longer. Anglo American Plc spun off its South African coal mines last year into a new company that immediately announced it planned to increase production.

As a result, pressure from ESG-focused investors to quickly sell coal assets has been replaced by calls on major commodity producers to focus on the responsible — and accelerated — closure of the operations.

“Use of asset divestment as a tool to lower carbon footprints and avoid responsible closure is not acceptable,” Harriet Kater, climate lead for Australia at the Australasian Centre for Corporate Responsibility, a shareholder activist group, said in a statement.

In fact, BHP will seek to extend the operation’s life until the end of the decade, from the current permitting through 2026. The company said it will work with the local community over the next eight years on a closure plan.

While the company was still looking to sell the mine, it surprised investors by applying to extend mining until 2045, which prompted concerns that a potential buyer could keep the operation open until then.

BHP’s move to exit the business has also been complicated by a price surge that saw Asia’s benchmark Newcastle coal advance to a record high last month. BHP sold its stake in the Cerrejon coal mine to Glencore before prices spiked, which given the structure of the deal meant Glencore got the asset almost for free.

Glencore Gets Rich on Coal, But Questions Persist Over Exit Plan

Glencore itself is on course to make record profits from its coal business this year and could overtake Rio Tinto to become the world’s second most profitable miner as a result. The company has been forced to revisit the debate over its coal strategy this year as some investors push for more detail about the plan to wind down coal mines. However, the plan still received support from 76% of investors in a vote in April.

BHP has been seeking to shed fossil fuel assets as Chief Executive Office Mike Henry focuses the company around its top-earning iron ore unit, and on metals tied to the energy transition, including copper and nickel.

A sprawling oil and gas unit was divested to Woodside Energy Group in a deal completed this month, while the firm also last year sold a package of Australian metallurgical coal assets.

BHP has a provision of about $700 million for the closure of Mt Arthur and expects rehabilitation work to last about 10 to 15 years after mining ends, the company said in its statement.

(Updates with chart and additional background.)

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©2022 Bloomberg L.P.

Alphamin Resources Corp.

GRAND BAIE, MAURITIUS, June 15, 2022 (GLOBE NEWSWIRE) — Alphamin Resources Corp. (AFM:TSXV, “Alphamin”, or the “Company”) commented on the recent closure of the Bunagana border post with Uganda, located 60km north-east of Goma, the capital of the North-Kivu province of the DRC, which has been closed following recent clashes between rebels and DRC government forces in the area.

The recent closure of the Bunagana border post has no impact on the Company’s operations. All Alphamin exports cross the Aru and Mahagi border posts with Uganda which are some 1000km north of the Bunagana town and do not transit through or close to Bunagana.

FOR MORE INFORMATION, PLEASE CONTACT:

Maritz Smith                                CEO                        Alphamin Resources Corp.                        Tel: +230 269 4166E-mail: msmith@alphaminresources.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 news release.

SAO PAULO, June 14 (Reuters) – The judge overseeing Brazilian miner Samarco Mineracao's bankruptcy has scheduled a mediation hearing between the company, shareholders Vale SA and BHP Group and creditors to hammer out a restructuring agreement.

Creditors rejected the company's last proposal on April 18 and filed an alternative plan a month later, in which a debt-for-equity swap would turn them into Samarco's controlling shareholders.

Unions representing employees presented another plan on May 19, with Samarco and its shareholders' support.

Judge Adilon Claver de Resende said the mediation hearing aims to find middle ground between the proposals. It has not yet been decided how the restructuring would proceed with the two competing plans. (Reporting by Tatiana Bautzer; Editing by Kirsten Donovan)

(Recasts with BHP talk about possible partner interest)

By Rod Nickel and Ismail Shakil

OTTAWA, June 13 (Reuters) – BHP Group is open to taking on a partner as it builds its first potash mine in the Canadian province of Saskatchewan, but can also go it alone and is not currently involved in discussions with rival Nutrien Ltd , a senior BHP executive said on Monday.

"We are more than happy and willing to work with partners. We don't need a partner though," Ragnar Udd, BHP president of Minerals Americas, said in an interview with Reuters. "So it has to be really about what's that partner actually going to be contributing to the mix."

BHP last month said it was looking at accelerating the Jansen, Saskatchewan project by a year amid tight global potash supplies after Russia's invasion of Ukraine. Prices of the crop nutrient have soared since Western sanctions were imposed against Russia over the invasion.

Nutrien, the world's biggest potash producer and based in Saskatchewan, last week said it plans to boost capacity by 20% by 2025.

Nutrien interim CEO Ken Seitz told Reuters that he has had no discussions with BHP since taking that job in January.

Russia and Belarus, which also faces sanctions, are the world's second- and third-largest potash producers, while Canada is No. 1.

Prior to the sanctions, some analysts said potash output looked well-supplied. But Udd said steady global demand growth for potash appeals to BHP, and planned expansions of eastern European mines now look to be in jeopardy.

Jansen's first phase is estimated to cost up to $5.7 billion with annual capacity to produce 4.4 million tonnes, starting as soon as late 2026.

"Are we contributing to a glut? That remains to be seen," Udd said, adding that BHP eventually wants to be the market leader.

Jansen's mine shafts are designed for capacity of 16 million tonnes annually, Udd said.

Canada will invest up to C$100 million ($77.83 million) in Jansen's development as a low-emissions mine, Canadian Industry Minister Francois-Philippe Champagne said earlier on Monday.

"We know how critical potash is for our country when it comes to food security," Champagne said.

BHP, in a partnership with Sandvik AB, is planning to install new mining systems at the mine that are expected to reduce environmental impact by using 60% less equipment underground than traditional potash mines, Udd said.

Reuters, citing a source, has reported that the investment will allow BHP to use electric vehicles and equipment.

($1 = 1.2844 Canadian dollars) (Reporting by Ismail Shakil in Ottawa; Editing by Chris Reese, Will Dunham and Mark Porter)

By Rod Nickel and Ismail Shakil

OTTAWA (Reuters) -BHP Group is open to taking on a partner as it builds its first potash mine in the Canadian province of Saskatchewan, but can also go it alone and is not currently involved in discussions with rival Nutrien Ltd, a senior BHP executive said on Monday.

"We are more than happy and willing to work with partners. We don't need a partner though," Ragnar Udd, BHP president of Minerals Americas, said in an interview with Reuters. "So it has to be really about what's that partner actually going to be contributing to the mix."

BHP last month said it was looking at accelerating the Jansen, Saskatchewan project by a year amid tight global potash supplies after Russia's invasion of Ukraine. Prices of the crop nutrient have soared since Western sanctions were imposed against Russia over the invasion.

Nutrien, the world's biggest potash producer and based in Saskatchewan, last week said it plans to boost capacity by 20% by 2025.

Nutrien interim CEO Ken Seitz told Reuters that he has had no discussions with BHP since taking that job in January.

Russia and Belarus, which also faces sanctions, are the world's second- and third-largest potash producers, while Canada is No. 1.

Prior to the sanctions, some analysts said potash output looked well-supplied. But Udd said steady global demand growth for potash appeals to BHP, and planned expansions of eastern European mines now look to be in jeopardy.

Jansen's first phase is estimated to cost up to $5.7 billion with annual capacity to produce 4.4 million tonnes, starting as soon as late 2026.

"Are we contributing to a glut? That remains to be seen," Udd said, adding that BHP eventually wants to be the market leader.

Jansen's mine shafts are designed for capacity of 16 million tonnes annually, Udd said.

Canada will invest up to C$100 million ($77.83 million) in Jansen's development as a low-emissions mine, Canadian Industry Minister Francois-Philippe Champagne said earlier on Monday.

"We know how critical potash is for our country when it comes to food security," Champagne said.

BHP, in a partnership with Sandvik AB, is planning to install new mining systems at the mine that are expected to reduce environmental impact by using 60% less equipment underground than traditional potash mines, Udd said.

Reuters, citing a source, has reported that the investment will allow BHP to use electric vehicles and equipment.

($1 = 1.2844 Canadian dollars)

(Reporting by Ismail Shakil in Ottawa; Editing by Chris Reese, Will Dunham and Mark Porter)

Vancouver, British Columbia–(Newsfile Corp. – June 10, 2022) – Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the “Company” or “Aftermath Silver”) is pleased to announce that it has entered into a non-binding term sheet (the “Term Sheet”) to sell its 100% interest in the Cachinal De La Sierra Silver-Gold Project (the “Cachinal Project” or “Cachinal”), located in the Cachinal de la Sierra area in Chile’s Antofagasta region (Region II) to Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger”). The proposed transaction includes an exclusivity period that ends on August 15, 2022. Aftermath Silver and Honey Badger are working diligently to finalize a definitive agreement on or before this date.

Ralph Rushton, President of Aftermath Silver, commented: “We’re pleased to announce the sale of the Cachinal silver-gold project to Honey Badger. Our priority is to advance the Berenguela silver-copper-manganese project in Peru, and the sale of Cachinal – which became non-core for us as our work at Berenguela progressed – represents the fastest way to potentially unlock value in the project for our shareholders. In addition to cash and share payments, we will receive production payments when commercial production starts and we will also retain an NSR.”

Transaction Summary

The Term Sheet contemplates that Honey Badger, or an affiliate, will acquire all of the issued and outstanding shares of Minera Cachinal S.A., a wholly-owned subsidiary of Aftermath, according to the following terms:

  • Share Payment: C$1,000,000 in shares of Honey Badger payable at closing and priced at the greater of: (i) the volume weighted average share price of the Honey Badger common shares on the TSXV for a period of thirty (30) trading days immediately preceding the date of announcement of the transaction and (ii) the maximum discounted price allowed under the policies of the TSXV.

  • Cash Payments: a) C$400,000 payable at closing, b) C$452,000 six months after closing, c) C$400,000 on May 21, 2023 and d) C$400,000 eighteen months after closing.

  • Royalty: Honey Badger shall grant a 1% Net Smelter Return Royalty with a complete buyback option at Honey Badger’s sole discretion for a purchase price of C$8,500,000;

  • Production Payments: Upon commencement of commercial production, Honey Badger shall pay in cash or shares at Aftermath’s option, C$0.50 per payable silver ounce produced at the Cachinal Project, capped at C$2,000,000 in payments.

The detailed terms and conditions of the proposed transaction will be set out in definitive documentation to be negotiated between the parties, which will contain customary representations, warranties and covenants of the parties as well as customary indemnities and closing conditions. There can be no assurance that the proposed transaction will be completed on the terms contemplated, or at all. Readers are referred to the section below entitled: “Cautionary Note Regarding Forward-Looking Information”.

While the Term Sheet is non-binding, the parties have agreed to a mutual break fee of C$250,000 in the event a definitive agreement is not entered into prior to the expiry of the exclusivity period due to a party’s action or inaction, subject to certain exceptions outside the control of the parties. The proposed transaction will be subject to regulatory approval, including the approval of the TSX Venture Exchange (the “TSXV”).

Qualified Person

Michael Parker, a Fellow of the AusIMM and a non-independent director of Aftermath, is a non-independent qualified person, as defined by NI 43-101. Mr. Parker has reviewed the technical content of this news release and consents to the information provided in the form and context in which it appears.

About Aftermath Silver Ltd.

Aftermath Silver Ltd is a leading Canadian junior exploration company focused on silver, and aims to deliver shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions. Aftermath has developed a pipeline of projects at various stages of advancement. The Company’s projects have been selected based on growth and development potential.

  • Berenguela Silver-Copper project. The Company has an option to acquire a 100% interest through a binding agreement with SSR Mining. The project is located in the Department of Puno, in southern central Peru. A NI 43-101 Technical Report on the property was filed in February 2021 (available on SEDAR and the Company’s web page). The Company is currently drilling at Berenguela and planning to advance the project through a pre-feasibility study.

  • Challacollo Silver-Gold project. The Company has an option to acquire 100% interest in the Challacollo silver-gold project through a binding agreement with Mandalay Resources; see Company news release dated June 27th, 2019. A NI 43-101 mineral resource was released on December 15, 2020 (available on SEDAR and the Company’s web page). The Company is currently permitting road access in anticipation of an upcoming drill program.

  • Cachinal Silver-Gold project. The Company recently agreed terms to sell its interest in the Cachinal Ag-Au project, located 2.5 hours south of Antofagasta to Honey Badger Silver Inc.

ON BEHALF OF THE BOARD OF DIRECTORS

“Ralph Rushton”

Ralph RushtonCEO and Director604-484-7855

Neither the 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

Certain of the statements and information in this news release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to interpretation of exploration programs and drill results, predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking statements. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward‐looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include, but are not limited to, changes in commodities prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and financing; and general economic, market or business conditions. In addition, forward‐looking statements are subject to various risks, including but not limited to operational risk; political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate. The reader is referred to the Company’s filings with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible through Aftermath Silver’s profile at www.sedar.com.

There is no certainty that any forward‐looking statement will come to pass and investors should not place undue reliance upon forward‐looking statements. The Company does not undertake to provide updates to any of the forward‐looking statements in this release, except as required by law.

Cautionary Note to US Investors – Mineral Resources

This News Release has been prepared in accordance with the requirements of NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission, and information concerning mineralization, deposits, mineral reserve and resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127370

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