Caledonia Announces Proposed $100 Million Offering of Convertible Senior Notes Due 2033

Caledonia Mining Corporation (CMCL) reported surface drilling results at its Blanket gold mine in Zimbabwe. The program found a previously unrecognized near-surface gold horizon with both oxide and sulphide mineralisation, including oxide intersections up to 6.04 g/t over 16 m. Metallurgical work is underway, with an updated Blanket resource statement expected in August 2026.

Congo’s President Felix Tshisekedi ordered state revenue agencies to stop harsh mining tax raids and limit enforcement to legally justified, exceptional cases, citing investor confidence and higher costs, Reuters reported. The move targets Congo’s copper and cobalt sector. It follows intensified scrutiny, including a 2025 audit alleging CMOC and Glencore underreported revenue, and last week’s tax action against Glencore’s offices.

Eaton (NYSE:ETN) said the U.S. Air Force Research Laboratory awarded it a $7 million, 24-month contract to use quantum computing, machine learning, and advanced visualization to improve power grid resilience and protection. The work, with Infleqtion and Penn State, targets detection and response to multiple concurrent physical and cyber threats, addressing NERC N-2 contingency requirements.

ExxonMobil Moçambique Limitada issued McDermott Energy Solutions (UK) a letter of intent for limited engineering and procurement work on Rovuma LNG Phase 1 midstream development. The award supports planning ahead of a final investment decision expected in 2026. Rovuma LNG targets 12 modular trains totaling 18.6 mtpa, with start-up in 2031. ExxonMobil says the 30-year project could generate about $150B in revenues for Mozambique’s government.

Serbia President Aleksandar Vucic said Serbia will open a joint UAV factory with Elbit Systems, with inauguration expected Sept 15-20. Elbit will hold 51% and Serbia’s state arms firm SDPR 49%. The factory relates to a five-year contract covering precision rockets and unmanned systems, plus ISTAR, digitization and upgrades.

The U.S. Department of Defense, according to The Washington Post, asked defense contractors to submit within 21 days production and delivery schedules for critical systems, citing depleted stockpiles. CSIS estimates cite heavy early use of missiles and falling Patriot and THAAD inventories. The Pentagon is working with Northrop Grumman and Lockheed Martin, including a $58.6B deal to triple PAC-3 output by 2030, pending a stalled $1.15T defense budget.