Latest news with #Vicuña
Forbes
7 days ago
- Forbes
To See The Next Total Solar Eclipse, Book Now — Here's Why
Chilean man in traditional hat watching total solar eclipse, Vicuña Chile The last total solar eclipse was 456 days ago in North America, and the next one is in 400 days in Europe. On Aug. 12, 2026, a short totality will darken the day as seen from eastern Greenland, western Iceland and northern Spain. There are fabulous travel experiences to be had, from the fjords of Scoresby Sun and a festival on Iceland's Snæfellsnes Peninsula to the plains of Spain and a sunset eclipse from the Balearic Islands. However, Why This Eclipse Will Be So Busy The total solar eclipse in 2026 will be the first in mainland Europe since 1999 when totality flashed across the globe from the U.K. to India via Eastern Europe and the Middle East. According to approximately 71 million people viewed it. Most Europeans have not seen a total solar eclipse in so long that they will travel — mainly to Spain, but also to Iceland. Here's why there will be so much demand for this eclipse: A map of the path of totality on Aug. 12, 2026. Why You Should Book Your Eclipse Trip Very Soon If the above reasons are driving demand, there's another very specific reason why you should try to book your travel arrangements as soon as possible. On August 12 this year, a number of articles will be published and a lot of fuss will be made about the one-year countdown to mainland Europe's first eclipse in a generation. Demand will spike for plane tickets, hotels and organized tours. If you can secure a spot before the one-year countdown, you may have a chance to book travel and accommodation. So book now — or risk missing one of nature's grandest spectacles. Total Solar Eclipse 2026: Spain On Aug. 12, 2026, a total solar eclipse will cross northern Spain, with key cities including León, Palencia and Burgos, where clear skies are likely. It's crucial to note that in Spain, the eclipse occurs just before sunset, which means a dramatic experience — but also an uncertain one. Sightlines must be checked out in advance using this new map from the Instituto Geográfico Nacional. Coastal regions may experience more variable weather, but August typically brings warm, dry conditions that are ideal for eclipse viewing. Total Solar Eclipse 2026: Iceland Reykjavík will lie within the path of totality for a rare total solar eclipse. Totality in the capital is expected to last approximately 1 minute. The moon's umbral shadow will move across the western part of Iceland, with Reykjavík, the Reykjanes Peninsula, the Snæfellsnes Peninsula, and Westfjördurprime views. Weather-wise, Iceland tends to have a lower chance of clear skies in August than Spain; however, a sunny day is still entirely possible. Eclipse chasers should read Iceland's excellent weather forecasts and have a vehicle to travel to this late-afternoon eclipse, Total Solar Eclipse 2026: Greenland A rare Arctic eclipse experience is available in Greenland, where a cluster of approximately a dozen cruise ships will gather on August 12, 2026. The favored location is Scorsby Sund, where there's a good chance of a clear sky, thanks to Greenland's topography. Disclaimer: I am the author of the Complete Guide to the Total Solar Eclipse 2026: Greenland, Iceland and Spain and editor of Wishing you clear skies and wide eyes.
Time of India
30-06-2025
- Business
- Time of India
Argentina and Chile new economic superpowers? Vicuña mineral discovery marks largest copper, gold, and silver find
Vicuña Mineral Resource unveiled in Andes A major mineral discovery in the Andes Mountains may significantly alter the trajectory of mining in South America. Geologists have identified one of the largest deposits of copper, gold, and silver in the past 30 years, located along the border of San Juan Province, Argentina, and the Atacama Region of Chile. The site, known as the Vicuña Mineral Resource, is being developed by Lundin Mining and BHP. It contains an estimated 13 million tons of copper, 32 million ounces of gold, and 659 million ounces of silver. These figures position it among the largest copper, gold, and silver deposits globally. Also read: Mars secret revealed: The Red Planet's cracked skin may be hiding an ancient truth The deposit comprises two major sections: Filo del Sol, which holds more than 600 million tons at a 1.14 per cent copper equivalent, and Josemaria, with nearly 200 million tons at a 0.73 per cent copper equivalent. Industry experts anticipate that the area could become a top-tier global mining district with decades of output potential. 'We see the potential for Vicuña to be not only a significant copper producer but also one of the world's largest gold and silver mines as well,' said Jack Lundin, CEO of Lundin Mining. Economic growth and strategic positioning for Argentina The discovery is expected to boost Argentina's economy through job creation, expanded trade, and infrastructure development. With copper playing a vital role in green energy technologies and electric vehicles, Argentina could emerge as a major supplier in global markets. Live Events Local communities in San Juan Province have expressed optimism about potential benefits, including improvements in healthcare, education, and transportation. Regional authorities hope the mining activity will attract new investment and spur long-term economic development in underserved areas. Also read: Scientists identify 4.16-billion-year-old rock in Canada, possibly Earth's earliest crust Demand for copper remains strong due to its extensive use in renewable energy systems and electrification. The strategic importance of copper, gold, and silver reinforces Argentina's growing relevance in international mineral supply chains. Environmental and regional considerations While the project offers significant economic promise, it also brings environmental and social concerns. The Andes Mountains host fragile ecosystems that could be affected by mining activities. Environmental organizations have urged strict monitoring and mitigation to preserve biodiversity. Indigenous groups in the region have voiced concerns about the impact on cultural heritage and land rights. Argentine law mandates consultation with local populations before initiating large-scale resource extraction. Project stakeholders are expected to prioritize compliance and transparency as development moves forward. In response, Lundin Mining and BHP have pledged to implement advanced environmental practices, including real-time environmental monitoring and wastewater treatment, to minimize ecological disruption. The project is also likely to encourage cooperation across the broader Andean mining corridor, including neighboring countries Chile and Peru. Experts suggest it may result in increased knowledge sharing and labor mobility across the region. Also read: Japan discovers game-changing metal that boosts Hydrogen output by 1,000%—world closer to fossil-free futu The substantial gold and silver reserves underscore the deposit's broader importance. Gold remains essential to electronics and aerospace applications, while silver is increasingly used in solar energy and industrial manufacturing. Economic Times WhatsApp channel )
Yahoo
16-06-2025
- Business
- Yahoo
Lundin Mining Files Vicuña Mineral Resource Technical Report
VANCOUVER, BC, June 16, 2025 /CNW/ - (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces that, further to its news release dated May 4, 2025, announcing the initial Mineral Resource estimate for the Filo del Sol sulphide deposit, an update to the Mineral Resource estimate for the Filo del Sol oxide deposit and an update to the Mineral Resource estimate for the Josemaria deposit (collectively referred to as the "Vicuña Mineral Resource"), the Company has filed a technical report entitled "NI 43-101 Technical Report on the Vicuña Project, Argentina and Chile", with an effective date of April 15, 2025 (the "Technical Report"). There are no material differences in the Mineral Resource estimates reported in the Technical Report and those contained in the May 4, 2025 news release. The recently released Vicuña Mineral Resource (see News Release dated May 4, 2025) highlights one of the world's largest copper, gold, and silver resources which ranks in the top 10 for Mineral Resources of the largest producing copper mines in the world and is the largest greenfield copper discovery in the last 30 years1. Vicuña Corp. is a 50/50 joint arrangement between Lundin Mining and BHP (the "Joint Arrangement") and holds the Filo del Sol project and the Josemaria project (collectively, "Vicuña"). The Joint Arrangement creates a long-term strategic alliance between the two companies to develop an emerging world class copper, gold, and silver district. The proximity of the Filo del Sol and Josemaria projects form the basis of the Vicuna project which allows for joint development capturing greater economies of scale, shared infrastructure and increased optionality for staged expansions to support a globally ranked mining complex. The Technical Report was prepared by Luke Evans, of SLR Consulting (Canada) Ltd, Paul Daigle, of AGP Mining Consultants Inc., Sean Horan, of Resource Modeling Solutions Ltd., Jeffrey Austin, of International Metallurgical and Environmental Inc., and Bruno Borntraeger, of Knight Piésold Ltd, each of whom is a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and independent of Lundin Mining. The Technical Report has been prepared pursuant to Canadian Securities Administrator's NI 43-101 requirements and may be found on the Company's SEDAR+ profile at and on the Company's website at 1. Based on rankings from S&P Global, including the Filo del Sol and Josemaria deposits. About Lundin Mining Lundin Mining is a diversified base metals mining company with operations or projects in Argentina, Brazil, Chile, and the United States of America, primarily producing copper, gold and nickel. Cautionary Statement on Forward-Looking Information Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the mineral resource estimation for Vicuña, including the parameters and assumptions related thereto; the Company's plans, prospects and business strategies; the operation of Vicuña with BHP; the realization of synergies and economies of scale in the Vicuña district; the development and future operation of the Vicuña project; the timing and expectations for future studies; the potential for resource expansion; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information. Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, zinc, nickel, gold and other metals; anticipated costs; currency exchange rates and interest rates; the ability to achieve goals and identify and realize opportunities; the prompt and effective integration of acquisitions;, the realization of synergies and economies of scale in connection with the establishment of the joint arrangement with BHP; that the political, economic, permitting and legal environment in which the Company operates will continue to support the development and operation of mining projects; timing and receipt of governmental, regulatory and third party approvals, consents, licenses and permits and their renewals; positive relations with local groups; the accuracy of Mineral Resource estimates and related information, analyses and interpretations; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic, political, regulatory and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; project financing risks, liquidity risks and limited financial resources; volatility and fluctuations in metal and commodity demand and prices; delays or the inability to obtain, retain or comply with permits; significant reliance on assets in Chile; reputation risks related to negative publicity with respect to the Company or the mining industry in general; health and safety risks; risks relating to the development of the Filo del Sol deposit and the Josemaria deposit; inability to attract and retain highly skilled employees; risks associated with climate change; compliance with environmental, health and safety laws and regulations; unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; risks inherent in and/or associated with operating in foreign countries and emerging markets, including with respect to foreign exchange and capital controls; economic, political and social instability and mining regime changes in the Company's operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; risks relating to indebtedness; the inability to effectively compete in the industry; risks associated with acquisitions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration, including the joint acquisition of Filo Corp. and the joint arrangement with BHP; changing taxation regimes; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; uncertainties relating to inferred Mineral Resources being converted into Measured or Indicated Mineral Resources; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing legal rights in foreign jurisdictions; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; activist shareholders and proxy solicitation matters; risks relating to dilution; regulatory investigations, enforcement, sanctions and/or related or other litigation; risks relating to payment of dividends; counterparty and customer concentration risks; the estimation of asset carrying values; risks associated with the use of derivatives; risks relating to joint ventures, joint arrangements and operations; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; conflicts of interest; existence of a significant shareholder; exchange rate fluctuations; challenges or defects in title; internal controls; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; the threat associated with outbreaks of viruses and infectious diseases; risks relating to minor elements contained in concentrate products; and other risks and uncertainties, including but not limited to those described in the "Risk and Uncertainties" section of the Company's MD&A for the year ended December 31, 2024 and the "Risk and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2024, which are available on SEDAR+ at under the Company's profile. All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward–looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law. SOURCE Lundin Mining Corporation View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
03-04-2025
- Business
- Reuters
Mining consolidation to speed up as Chinese demand growth slows
Summary Companies Miners look at creating value and strength through scale M&A discussions typically take place at top or bottom of cycle Copper makes selling consolidation to boards easier LONDON, April 3 (Reuters) - Joint ventures and asset sales are expected to accelerate in the mining industry, which is ripe for consolidation due to the slowdown in manufacturing and demand growth for industrial metals, particularly in top consumer China. However, full-scale mergers and acquisitions activity among diversified miners could be hampered for now by prohibitive high costs and significant chances of eventual rejection, investors say. Reluctance to engage at a company level is seen in LSEG data showing M&A in mining sector fell 27% in value terms to $15 billion in the first quarter compared to the same 2024 period. Since the start of 2024, BHP's ( opens new tab shares have slumped 26% and Rio Tinto (RIO.L), opens new tab has dropped 23% while Glencore (GLEN.L), opens new tab 's shares have collapsed 42%. Companies such as BHP and Rio Tinto have robust balance sheets and are delivering handsome returns to shareholders, but they are approaching a period of stalled earnings growth. With no other country able to pick up the slack left by China and trade wars triggered by U.S. President Donald Trump's import tariffs, miners are thinking more about creating value and strength through scale. "We are seeing more discussions about partnering, joint ventures and asset sales," said George Cheveley, Portfolio Manager at Investment Manager Ninety One. "We're more likely to see smaller deals rather than wholesale takeovers. They are easier regulation wise and an easier way of improving your asset base and derisking your portfolio." Australia-listed BHP also recently formed a joint venture - Vicuña - with Lundin Mining. Vicuña now owns the Filo copper project in Argentina and the Josemaria project in Chile. Struggling with declining ore grades BHP is planning to invest $10.8 billion over a period of 10 years in Chile starting with the Escondida operation Instead of investing for growth, some have typically opted to boost shareholder returns with dividends and share buybacks. "Our analysis suggests that valuation multiples are not responding to higher payout ratios and buybacks are no longer delivering strong returns making the pivot to growth more appealing," said James Whiteside, head of corporate for metals and mining at Wood Mackenzie. "Diversified companies seeking relevance through big payouts aren't being rewarded, but the read across from copper miners is, investing in production growth pays." HISTORICAL PRECEDENTS "Historically, merger discussions often occur either at the very top of the cycle, because mining companies have a lot of money, or at the very bottom of the cycle, because there's a need to find ways to create value," said Christel Bories, Chairman of French mining group Eramet ( opens new tab. The ball started rolling in April 2023 when London-listed Glencore (GLEN.L), opens new tab attempt to buy Teck Resources ( opens new tab for $23 billion was rejected. Glencore instead bought Teck's metallurgical coal portfolio for $7 billion. But it was when the world's biggest miner BHP ( opens new tab went hostile with a $49 billion bid for Anglo American (AAL.L), opens new tab, the mining world understood a restructuring of the industry was on the horizon. "It's important in the mining world for BHP to kick off the M&A cycle because it makes it easier for other CEOs to sell the idea to their boards," said Liberum analyst Tom Price. What has made selling the idea of M&A to company boards easier this time are forecasts of rocketing copper demand partly due to power grid replacement and upgrades and e-mobility which includes electric vehicles, scooters and bikes. Information provider Benchmark Mineral Intelligence (BMI)expects copper demand from these two end-use segments will total 4 million metric tons in 2030 or 13% of global refined demand from 2.6 million tons or 9.5% this year respectively. Overall, miners need to invest $200 billion to increase their copper production by 9.6 million tons, according to consultancy Wood Mackenzie. China with its massive manufacturing sector accounts for roughly 55% and 50% of global consumption of copper and aluminium used in transport, packaging and construction. "While stimulus is probably required, China's various strategies over recent years have only stabilised activity in its commodity-intensive property/infrastructure sectors. They remain quite weak," said Liberum's Price.
