Core Viewpoint - A fire occurred at the Eramet Grande Côte extraction plant in Senegal on February 22, 2026, during scheduled maintenance, but no casualties were reported, and the situation was contained quickly [2][4][5]. Group 1: Incident Details - The fire broke out at approximately 3:00 p.m. and was controlled by 8:00 p.m. [2] - The facility was evacuated and secured immediately following the incident [2]. - Investigations are ongoing to determine the cause of the fire and its impact on operations [5][6]. Group 2: Response and Safety Measures - Eramet Grande Côte's internal emergency response teams acted promptly, coordinating with local firefighters to manage the situation [4]. - The safety of employees, contractors, and surrounding communities is the top priority for the Eramet Group [5]. Group 3: Operational Impact - Initial findings suggest that the fire was contained upstream of the Wet Concentration Plant, and the spiral concentrators used for mineral sands separation were not affected [5]. - Further updates will be provided as more information becomes available [6]. Group 4: Company Overview - Eramet focuses on transforming mineral resources to support sustainable industrial growth and energy transition [7]. - The company is involved in the recovery and development of essential metals like manganese, nickel, mineral sands, and lithium [7][8].

Core Insights - Eramet Grande Côte has achieved the IRMA 50 performance level, marking a significant milestone in responsible mining practices within the Eramet Group [1][6][9] Group 1: IRMA Standard and Evaluation - The IRMA Standard for Responsible Mining is recognized as one of the most comprehensive evaluation frameworks in the mining sector, distinguishing four performance levels: IRMA Transparency, IRMA 50, 75, and 100 [2] - The IRMA 50 level indicates compliance with critical requirements across four principal areas: social responsibility, environmental responsibility, business integrity, and planning for positive legacies [2] Group 2: Audit Results and Transparency - The audit of Eramet Grande Côte revealed strong environmental, social, and governance practices, with specific performance levels: Business integrity at 74%, Social responsibility at 74%, Environmental responsibility at 67%, and Planning for positive legacies at 67% [7][9] - The audit process is voluntary and based on independent external evaluation, with full publication of the audit report to ensure transparency [4][6] Group 3: Continuous Improvement and Stakeholder Engagement - Follow-up audits will be conducted every 18 months to verify ongoing compliance with the IRMA standard, with results made publicly available [5][6] - Areas for improvement have been identified, focusing on best practices, stakeholder engagement, grievance management, resettlement processes, and water quality monitoring [10][11] Group 4: Commitment to Responsible Mining - The achievement of the IRMA 50 level aligns with the State of Senegal's goals for economic sovereignty and responsible development in the mining sector [8] - The Eramet Group aims to leverage this responsible mining approach to engage stakeholders in adopting higher environmental and social standards [9]

Core Insights - McLaren Minerals' pre-feasibility study (PFS) for the McLaren Titanium Project forecasts total revenue of A$2.78 billion and EBITDA of A$899.7 million over an initial mine life of 15.9 years, indicating strong financial potential in the global titanium market [1] - The project has a payback period of 3.7 years, suggesting a favorable return on investment [1] Mineral Resource Estimate - The PFS revealed an expanded mineral resource estimate of 529 million tonnes (mt) at 4.5% heavy minerals, with 249mt at 4.7% heavy minerals classified as indicated [2] - A conceptual pit evaluated by IHC Mining is estimated to contain 185.7mt at 5.85% heavy minerals, supporting the projected mine life [2] Financial Projections - Life-of-mine net revenue is estimated at A$2.6 billion, with an average annual EBITDA of approximately A$56.5 million [3] - Financial projections indicate a pre-tax net present value of A$252.2 million and an internal rate of return of 26% under conservative assumptions [2] Project Development and Infrastructure - The project is backed by a simplified engineering study utilizing traditional mineral sands separation equipment, with bulk mining planned using a proven dry mining unit [3] - More than 60% of the total resource remains unmined, offering potential for further evaluation in the upcoming bankable feasibility study (BFS) [3] Management Insights - McLaren Minerals' managing director expressed satisfaction with the PFS results, which validated and derisked the project, and highlighted opportunities for further study during the BFS [4] - The company aims to minimize upfront capital while maximizing returns, enhancing shareholder confidence in the project's viability [5] Market Demand and Future Plans - The development aligns with increasing demand for titanium, driven by applications in aerospace, automotive, and other industrial sectors [6] - The company plans to advance the project towards a BFS, focusing on optimizing mining and processing methods to enhance project economics and sustainability [6]

Core Viewpoint - Iluka Resources has decided to suspend production at its Cataby mine and Synthetic Rutile Kiln 2 (SR2) due to low demand for mineral sands and downstream products, particularly pigment, amid lower global economic activity [1] Production Suspension Details - The suspension at SR2 will last for approximately six months, while Cataby's suspension could extend to around 12 months [2] - Current inventories of synthetic rutile and chloride ilmenite are sufficient to meet customer needs during the suspension [2] Ongoing Operations - Production at Iluka's Jacinth Ambrosia mine in South Australia continues, and commissioning is underway at the new Balranald mine in New South Wales, with mining set to begin in Q4 2025 [3] Management Perspective - The decision to suspend production is seen as prudent in addressing demand uncertainty and positioning for recovery, reflecting the company's disciplined approach [4] Financial Strategy - The suspension will enable inventory and cash liberation, cost savings, and preservation of balance sheet strength, allowing the company to respond quickly to any improvement in demand [5] Strategic Partnerships - Iluka has entered into a strategic partnership with Lindian Resources to develop the Kangankunde rare earths project in Malawi, which includes a binding loan facility worth $20 million and a 15-year offtake agreement for 90,000 tonnes of rare earth monazite concentrate [5][6]

Group 1 - Iluka Resources has a significant mineral sands operation but the focus of the article is on its rare earths work [1] - Tim Worstall is identified as a wholesaler of rare earth metals and an expert in scandium [1] - The article mentions that Worstall is affiliated with the Adam Smith Institute and contributes to various media outlets [1]

Core Viewpoint - Kenmare Resources plc reported stable demand for its products in Q2 2025, with ilmenite prices remaining stable, but the company has lowered its long-term pricing assumptions due to market uncertainties, leading to an expected impairment charge of up to $125 million in H1 2025, which will be a non-cash charge and will not affect operations or dividends [4][40]. Production Overview - Heavy Mineral Concentrate (HMC) production reached 358,300 tonnes in Q2 2025, a 5% increase year-on-year, driven by a 16% increase in ore grades despite a 12% decrease in excavated ore volumes [8][11]. - Ilmenite production was 245,400 tonnes, up 3% year-on-year, while primary zircon production increased by 1% to 13,100 tonnes [8][12]. - Total shipments of finished products were 181,800 tonnes, down 23% year-on-year, primarily due to adverse weather and maintenance of transshipment vessels [8][15]. Operational Update - The company achieved zero Lost Time Injuries (LTIs) in H1 2025, with a Lost Time Injury Frequency Rate (LTIFR) of 0.03 per 200,000 hours worked, an improvement from 0.09 in the previous year [8][10]. - Kenmare is on track to meet its 2025 production and cost guidance, expecting higher production in H2 2025 supported by increased excavated ore volumes [8][14]. Capital Projects - The Wet Concentrator Plant A upgrade project is progressing as planned, with an estimated capital cost of $341 million, and commissioning is expected to begin in Q3 2025 [8][20]. - The company has initiated a Selective Mining Operation (SMO) with a targeted run rate of 300 tonnes per hour, and a second unit is planned for commissioning in H1 2026 [23][25]. Market Conditions - Demand for titanium feedstocks remains robust, with stable ilmenite pricing, while zircon and rutile prices have continued to decline [26][27]. - The zircon market is subdued due to weak demand, particularly in China's construction sector, although demand for high-grade zircon remains strong [30][31]. Corporate Developments - Kenmare has been included in the FTSE4Good Index Series, reflecting strong Environmental, Social, and Governance (ESG) practices [35][36]. - The company terminated discussions with Oryx Global Partners regarding an offer, as the revised pricing was deemed to undervalue Kenmare's business [38][39]. - James McCullough was appointed as the new Chief Financial Officer on 1 May 2025, bringing extensive experience from Rio Tinto Plc [37].

Core Viewpoint - Kenmare Resources plc has published its Report on Payments to Governments for the financial year ended 31 December 2024, detailing payments made to the Government of Mozambique, with total payments amounting to $20,323,000, which includes taxes, royalties, and fees [3][4][22]. Company Overview - Kenmare Resources plc is a leading global producer of titanium minerals and zircon, operating the Moma Titanium Minerals Mine in northern Mozambique, which accounts for approximately 6% of global titanium feedstocks [3][6]. - The company is incorporated in Ireland and has listings on the London Stock Exchange and Euronext Dublin [6][25]. Report Scope and Compliance - The report complies with the Transparency Regulations and the Companies Act, detailing payments related to the exploration, development, and extraction of minerals [5][9]. - Payments are disclosed on a cash basis and are categorized into royalties, taxes, and fees, among others [12][14]. Financial Summary - Total payments to the Government of Mozambique for 2024 include: - Taxes: $9,921,000 - Royalties: $10,087,000 - Fees: $315,000 - Total: $20,323,000 [22]. - The mining operations are conducted by wholly-owned subsidiaries, Kenmare Moma Mining (Mauritius) Limited and Kenmare Moma Processing (Mauritius) Limited, which account for 100% of the Group's turnover [7][10]. Payment Details - The Group is subject to a mining royalty of 3% based on Heavy Mineral Concentrate (HMC) sold, and a revenue royalty of 1% on revenue recognized by the processing subsidiary [14][15]. - The corporation tax rate applicable to the Mozambique branch is 35% on taxable profits [15]. Community and Infrastructure Contributions - Payments for infrastructure improvements and social investments are excluded from the report, focusing instead on direct payments to the government [17].