Ivanhoe Electric Completes Q1 Drilling In Saudi Arabia; Metallus Invests $10M-Plus In Health, Safety; ArcelorMittal's Safety Audit And More: Thursday's Top Mining Stories
Top Stories for April 11, 2024:
1. Ivanhoe Electric (NYSE:IE) and Saudi Arabian Mining Company Ma’aden’s joint venture completed its first quarter of exploration in Saudi Arabia, successfully conducting a 76 km2 Typhoon survey around the Al Amar mine.
Exploration identified drill-ready anomalies and Computational Geosciences processed the results, highlighting two high-priority areas.
The venture also finished constructing the first of three advanced Typhoon units, with plans to expand exploration in the Al Amar and Wadi Bidah regions.
CEO Taylor Melvin highlighted the survey’s success in identifying geological anomalies using Typhoon and machine learning, with drilling expected to begin by May’s end.
2. Metallus (NYSE:MTUS) (formerly TimkenSteel) joined the Global Steel Climate Council. This membership reflects Metallus’s ongoing efforts to collaborate with industry leaders in reducing greenhouse gas emissions and promoting a sustainable future.
Metallus’s 2023 Sustainability Update highlights include over $10 million in health and safety investments and incorporating AI technology for workplace safety.
It also emphasizes circular economy principles through recycling and resource efficiency, ethical practices in environmental management and active community engagement through donations and volunteerism.
CEO Mike Williams highlighted the importance of this partnership in the company’s sustainability journey and its role in driving industry-wide positive change.
Also Read: Rio Tinto Appointment Ushers In Green Era For Mining Titan, With Copper At The Core
3. ArcelorMittal (NYSE:MT) announced a comprehensive safety audit by dss+ in December 2023, focusing on fatality prevention, process safety risk management and health and safety governance.
An interim update three months into the nine-month audit highlighted its progress and outlines ongoing work, aiming for increased transparency.
Final recommendations are expected in September 2024, with further details to be included in the company’s 2024 integrated annual review.
4. BMO Capital analyst Kevin O’Halloran maintained Gatos Silver (NYSE:GATO) with a Market Perform rating and raised his price target from $8 to $9.
Now Read: Uranium Execs Talk High Prices, Tout Projects As Long Downturn Comes To An End: ‘The US Government Will Be Buying’
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