A busy session for mining news was headlined by Anglo American (LSE:AAL)'s agreement to sell its Australian steelmaking coal portfolio for up to US$3.875bn, as the major continues its strategic restructuring. Elsewhere, resource upgrades, asset disposals, and project milestones dominated the small-cap end of the sector, with Blencowe Resources delivering a maiden JORC at Beehive and Ariana Resources banking nearly US$20m from a stake sale.
Anglo American agrees US$3.875bn Australian steelmaking coal exit
Anglo American (LSE:AAL) agreed to sell its Australian steelmaking coal assets for up to US$3.875bn, comprising a US$2.3bn upfront payment and a contingent earnout of up to US$1.575bn, with completion expected by the first quarter of 2027. The deal marks a significant step in the group's ongoing portfolio simplification, shedding one of its most carbon-intensive asset classes. Shares edged down 0.55% to 3,812.0p, with the market's muted reaction reflecting the deal's broadly anticipated nature.
Glencore flags Chilean tribunal ruling on Collahuasi expansion
Glencore (LSE:GLEN) disclosed that Chile's Second Environmental Tribunal has set aside the 2021 environmental authorisation for the expansion of the Collahuasi copper mine, a project that includes a near-complete desalination plant. The group said it does not currently expect production to be affected, though the ruling introduces regulatory uncertainty over one of the world's largest copper operations. Shares added 0.37% to 576.4p.
Blencowe lifts Orom-Cross total resources to 64.3Mt with maiden Beehive JORC
Blencowe Resources (LSE:BRES) delivered a maiden JORC resource for its Beehive deposit of 21.3Mt at 6.58% TGC, lifting the total Orom-Cross Mineral Resource to 64.3Mt. The upgrade comes as the company advances DFS optimisation work, with a Q2 update expected. Shares slipped 1.0% to 7.9p, though the resource addition meaningfully strengthens the project's scale ahead of that milestone.
Ariana Resources sells 13.6% Zenit stake for US$19.5m
Ariana Resources (LSE:AAU) completed the sale of its 13.6% stake in Zenit for US$19.5m in cash, with proceeds earmarked to fund the feasibility study at its Dokwe gold project. The disposal crystallises value from a non-core holding and provides a well-funded runway for the company's next development phase. Shares rose 2.92% to 1.904p.
Conroy Gold reports high-grade drill results at Clontibret
Conroy Gold and Natural Resources released further high-grade gold drill results from its Clontibret project in Ireland, with the company describing the findings as continuing to demonstrate the site's significant gold endowment while also highlighting the growing geological potential of the wider system. The results add to an expanding body of data at Clontibret as the company works to define the scale of the mineralised corridor.
Savannah Resources confirms July DFS target and secures first capital equipment
Savannah Resources (LSE:SAV) confirmed it remains on track to complete the definitive feasibility study for its Barroso lithium project in July, and announced the purchase of a transformer as the project's first piece of capital equipment, a tangible signal of construction-readiness. The company also pushed its RECAPE environmental submission to Q4 2026. Shares added 0.72% to 6.95p.
Rockfire returns high-grade zinc-silver-germanium assays from Molaoi
Rockfire Resources (LSE:ROCK) reported assay results from diamond drill hole HMO-015 at its Molaoi project in Greece, with multiple high-grade intervals returned including 11.9m at 8.8% zinc, alongside silver and germanium credits. Drilling is continuing with the aim of upgrading the existing JORC Inferred resource classification. Shares fell 7.69% to 0.12p.
New Frontier Minerals advances NWQ toll-treatment deal with Austral Resources
New Frontier Minerals (ASX:NFM) and Austral Resources completed a joint site visit to the Big One Deposit and Mt Storm as part of efforts to commercialise ore from the NWQ Copper Project. The two parties progressed a toll-treatment Memorandum of Understanding, a key step toward generating near-term revenue from the project without requiring New Frontier to build its own processing infrastructure. Shares dipped 2.77% to 0.316p.
