BHP In $25B Settlement; 5E Advanced Materials Begins Boric Acid Production; GoldMining Reduces Crucero Ro

BHP’s Settlement

Vale (NYSE:VALE), BHP Group (NYSE:BHP) and their joint venture Samarco have offered Brazilian authorities a $24.88 billion settlement proposal for the 2015 Mariana dam disaster.
The settlement includes $24.88 billion in total payments; $7.29 billion was already disbursed. The plan includes $14.08 billion for governments and $3.52 billion for future obligations, aiming for a final agreement by mid-2024.
This follows an initial 2016 agreement that established a foundation for reparations.

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5E Achieves Milestone, CEO Says

5E Advanced Materials (NASDAQ:FEAM) announced the first production of boric acid at its 5E Boron Americas Complex and amended its senior secured convertible notes to extend a waiver on the cash covenant.
CEO Susan Brennan says the achievement established a U.S.-based boron supply chain. The company will now begin customer qualification for its boric acid product and anticipates scaling up deliveries upon successful validation.
The financial waiver on the notes is extended until Dec. 31, 2024. Afterward, the company must maintain a cash balance of at least $7.5 million.

GoldMining’s Burdensome Royalty

GoldMining (NYSE:GLDG) reduced a burdensome royalty on its Crucero gold project in Peru from a maximum 5% to 3%, with the option to reduce it further to 1% for an additional $200,000 within ten years.
The original royalty was established with gold prices above $800 per ounce.
This strategic move initially cost $70,000 and aims to enhance the project's value and support the company's broader strategy in the Americas.

U.S. Gold Shareholders Approve 5 Directors

U.S. Gold (NASDAQ:USAU) announced the outcomes of its annual shareholder meeting where shareholders approved the election of five directors.
The shareholders also ratified Marcum, LLP as the independent accountant for the fiscal year ending Tuesday, April 30.
Chairman Luke Norman expressed gratitude to shareholders and highlighted the company’s focus on advancing its CK Gold Project in Wyoming and exploration projects in Nevada and Idaho.

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