Vale has confirmed the acquisition of a 30% minority interest in Ligga S.A. for approximately $190 million. The deal includes an exclusive offtake agreement for Ligga's sinter feed production and aims to support an expansion that would increase Ligga's output to 8 million tonnes per year by 2028.
Max Resource reported successful dry magnetic test work at its Florália Hematite DSO Project in Brazil, yielding iron concentrates up to 69.5% Fe with recoveries up to 81%. The company also announced a successful AUD $2.73 million private placement for its subsidiary, Max Brazil, to support an upcoming ASX listing.
Max Resource Corp. reported high-grade iron assays from channel samples at its Florália Hematite DSO Project in Minas Gerais, Brazil, with 131 samples returning 50-61% Fe and a highlight of 64.7% Fe in a 19mm fraction. Dry magnetic separation tests successfully upgraded Fe values by 4-6%, indicating beneficiation potential. The company also provided an update on its subsidiary's IPO on the ASX, which has closed a third tranche of private placement and received in-principle advice for listing. Additionally, new high-grade copper-silver channel assay results were reported from the Sierra Azul Project in Colombia, including 1.6% Copper & 6 g/t Silver over 55.0m.
