Metals & Mining Monitor | Gold Hits Record High Again; Pilbara Minerals and China Ganfeng Lithium Plan to Collaborate Outside of China

$Pilbara Minerals Ltd(PLS.AU)$, the largest lithium mining company in Australia, is collaborating with $Ganfeng Lithium Group(002460.SZ)$, the world's third-largest producer of lithium compounds and China's largest producer of lithium, to establish battery-grade lithium processing plants outside of China. The decision has been made to avoid any apprehensions raised by Western nations, particularly the US, and to leverage the benefits of new markets that are expected to grow with US subsidies. Pilbara Minerals aims to capitalize on these markets by establishing new battery materials processing facilities outside of China.

Brazilian mining company $Vale SA(VALE.US)$ signed an agreement to purchase a 45% stake in Alianca Energia from Cemig GT, a subsidiary of energy firm Cemig, for 2.7 billion reais ($540.9 million). This acquisition will provide Vale with complete ownership of Alianca Energia, which holds seven hydroelectric plants and three wind units in its portfolio of assets.

$Northern Star Resources Ltd(NST.AU)$, through its subsidiary Kalgoorlie Consolidated Gold Mines Pty Ltd, has submitted a proposal to expand the Super Pit gold mine in the WA goldfields. The current expansion program at the Super Pit, which involves doubling the capacity of the mine, is already costing the company over $1.5 billion. Northern Star aims to increase production across the Goldfields from 2027 to 2028, ultimately reaching its goal of 27 million tonnes per year by 2029. The proposal includes plans to widen and deepen the Super Pit.

$Golden Minerals Co(AUMN.CA)$ announced that $Barrick Gold Corp(ABX.CA)$ is terminating its earn-in agreement on the El Quevar silver project in Argentina, effective April 20. Golden Minerals views the return of the El Quevar project positively and plans to advance the project further, subject to the availability of capital, and update its resource.

$Alamos Gold Inc(AGI.CA)$ has reached a definitive agreement to buy $Argonaut Gold Inc(AR.CA)$ for $325 million, with the aim of building one of Canada's largest and most profitable gold mines. The acquisition will give Alamos access to the Magino mine in northern Ontario, which it intends to integrate with its nearby Island Gold mine. Argonaut's U.S. and Mexico assets will be spun out to its existing shareholders as a newly created junior gold producer. After the deal's completion, Alamos's shareholders will own roughly 95% of the combined company, while Argonaut's owners will own the remaining 5%.