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Mining News

Minerals Council, Geoscience, IDC going all out to boost South African exploration

By: Martin Creamer 17th May 2024 A collective effort was apparent on Friday when Minerals Council South Africa, the Council for Geoscience and the Industrial Development Corporation (IDC) spoke on the same platform to promote a return to growth in the shrinking South African mining industry. Minerals Council South Africa CEO... →

ESG key as investors back gold ETPs, metals funds – Tabula

By: Sabrina Jardim 17th May 2024 Gold exchange-traded products (ETPs) and metals funds are expected to benefit the most from positive flows into the commodities sector this year, with an environmental, social and governance (ESG) focus crucial to maximising inflows, research from European exchange-traded fund provider Tabula... →

Glencore expands adherence to standards, reporting frameworks to ensure sustainability

By: Marleny Arnoldi 17th May 2024 Global diversified miner Glencore’s emissions and energy use increased in 2023, but the group continues to make strides in managing its operations sustainably and according to ever-evolving standards. Glencore’s total energy use last year was 202 PJ, compared with 194 PJ in 2022. Renewable... →

Photo by Bloomberg
Glencore's head office

Hummingbird says Corica restarts operations at Kouroussa

By: Sabrina Jardim 17th May 2024 Aim-listed Hummingbird Resources has reported the remobilisation of mining services provider Corica Mining Services at the Kouroussa gold mine, in Guinea. Corica in March suspended work at the mine following a dispute with Hummingbird about certain payments, which it believed it was due. →

China's April coal output falls to lowest level since Oct 2022

By: Reuters 17th May 2024 China's coal production in April fell to its lowest level since October 2022, statistics bureau data and Reuters records showed on Friday, as continuing mine safety inspections curbed output. Output was 371.67-million metric tons last month, down 2.9% from a year earlier, according to the... →

Petra weathers lower diamond prices in latest tender

By: Tasneem Bulbulia 17th May 2024 Independent diamond miner Petra Diamonds’ sixth tender cycle for the 2024 financial year yielded $44-million from the sale of 371 000 ct. CEO Richard Duffy says like-for-like prices were marginally down through this seasonally quiet period, being 2.6% lower than for Tender 5, with demand... →

CEO Richard Duffy

BHP needs to bid about £32 a share for Anglo, JPMorgan says

By: Reuters 17th May 2024 HP Group would need to boost its latest offer around 30% to reflect fair value for Anglo American and its key copper assets, JPMorgan analysts said in a note. They raised their price target for London-listed Anglo to £27.75 a share after reexamining the value of its copper assets, and said the... →

Arizona Metals appoints new CEO and chair

By: Creamer Media Reporter 17th May 2024 Explorer Arizona Metals has made key changes in its leadership team to steer the company in its next phase of growth with the development of the Kay Mine deposit. To facilitate the progression of Arizona, Duncan Middlemiss has appointed as president and CEO, succeeding Marc Pais, while Jacques... →

Greater man/machine collaboration needed as AI, automation evolve – Cawood

By: Darren Parker 17th May 2024 In the new world of digitised and automated mining that is headed towards increased dependence on AI to solve problems and facilitate complex processes, University of the Witwatersrand (Wits) School of Mining Engineering Professor Fred Cawood has warned against an overreliance on such... →

Photo by Creamer Media
Wits School of Mining Engineering Professor Fred Cawood

Green Energy, Manganese Metal Co, Anglo American make headlines

17th May 2024 Mining Weekly Editor Martin Creamer unpacks Nedbank's belief that Green Energy is a reindustrialisation opportunity for South Africa; Manganese Metal Co's first-mover advance to enter the manganese battery metal market; and Anglo American’s proposed demerging of Anglo Platinum and De Beers, which... →

Green Energy, Manganese Metal Co, Anglo American make headlines (Camera: Shadwyn Dickison; Editing: Nicholas Boyd)

Hot commodity silver sets pace as demand and deficit drive rally

By: Reuters 17th May 2024 Gold’s record-setting rally may have captured the headlines this year, but it’s silver that’s running harder and faster as the less glamorous metal benefits from robust financial and industrial demand. Silver has soared by almost a quarter in 2024, outpacing gold and making it one of the year’s... →

Today’s well-supplied market for critical minerals ‘may not be a good guide for future’

By: Terence Creamer 17th May 2024 A new International Energy Agency (IEA) report describes the sharp decline in critical mineral prices over the past year as a double-edged sword, cautioning that, while it has been a boon for clean energy deployment and affordability, it is a bane for critical mineral investment and... →

Investment in certain minerals, notably copper and lithium, is falling short of what was required for transition to net-zero energy system

Cosmos steps into uranium with Nunavut acquisition

By: Mariaan Webb 17th May 2024 ASX-listed critical minerals company Cosmos Exploration on Friday announced its move into uranium with the acquisition of an 80% interest in the Fenix project, in Canada. The 162.7 km2 project is located in the emerging mining district of the Thelon basin, in Nunavut. →

Impact gears up for year-end for PFS on Lake Hope HPA project

By: Creamer Media Reporter 17th May 2024 Exploration company Impact Minerals has set its sights on completing the prefeasibility study (PFS) for its high-purity alumina (HPA) endeavour, Lake Hope, by the year’s end, said MD Mike Jones on Friday. Bolstered by a strategic raising of A$4-million, with the issuance of 150-million shares at... →

Loyal Lithium raises cash for Quebec project

By: Creamer Media Reporter 17th May 2024 North America-focused, ASX-listed Loyal Lithium has reported “exceptionally strong demand” for its capital raise dedicated to exploration works at the Trieste lithium project, in James Bay, Quebec. The company on Friday announced that it had raised A$3.3-million through the issue of shares at... →

Diatreme’s Metallica takeover offer period extended

By: Creamer Media Reporter 17th May 2024 The new closing date for mineral sands miner Diatreme Resources’ offmarket takeover of fellow ASX-listed Metallica Minerals has been extended to June 3. Following acceptances from the two biggest Metallica shareholders and many other shareholders, Diatreme currently has a relevant interest of... →

Poseidon restarts Lake Johnston exploration after sales process ends

By: Mariaan Webb 17th May 2024 ASX-listed Poseidon Nickel is getting back to exploration at the Lake Johnston project, in Western Australia, following a four-month hiatus while focusing on a sales process. Now that the heads of agreement to sell Lake Johnston to fellow listed Mineral Resources (MinRes) was terminated by the... →

AIC secures mining lease for Jericho, sets pathway for expanding Eloise copper output

By: Mariaan Webb 17th May 2024 The Queensland government has granted AIC Mines a mining lease for the Jericho copper mine, paving the way for surface works to get under way in preparation for mining. Development of Jericho will transform the Eloise mine, near Cloncurry, into a cornerstone asset for AIC Mines, providing a... →

Muddy Waters will not compensate its nominees on Canadian miner Mayfair as shareholder vote looms

By: Reuters 17th May 2024 hort seller Muddy Waters Capital said on Thursday that none of its newly proposed directors for Canadian miner Mayfair Gold's board will receive any remuneration, in contrast to what it called the "inappropriate compensation" earned by the company's existing directors. Muddy Waters is seeking to... →

Chile to seek bidders for preferential pricing on lithium by July

By: Reuters 17th May 2024 Chile will open calls by the end of July for lithium component producers to obtain preferential pricing on lithiumproduced by Albemarle through 2043, government officials said on Thursday. Albemarle and SQM are the two current lithium operators in Chile, and their contracts stipulate that a part... →

Magazine round up | 17 May 2024

17th May 2024 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. →

Magazine round up | 17 May 2024

Anglo American has sought fertiliser partners for months, says CEO

By: Reuters 17th May 2024 Anglo American has been looking for partners for its fertiliser project in North Yorkshire for around six months, CE Duncan Wanblad told Reuters, reiterating the business will be one of three pillars of the revamped miner, even as work there stalls. The London-listed miner outlined a radical plan... →

Polyhalite produced at Anglo American's Woodsmith mine

Chile's Cochilco raises 2024, 2025 copper price estimates

By: Reuters 17th May 2024 The Chilean Copper Commission (Cochilco) on Thursday raised its average copper price estimates for both this year and next. Cochilco now sees average copper prices this year at $4.30/lb, from $3.85/lb before. For next year, Cochilco estimates average copper prices around $4.25/lb, up from... →

Mining-focused manufacturers see innovation as key to survival and future growth

By: Sabrina Jardim 17th May 2024 Amid the challenges of loadshedding, logistical constraints and volatile commodity prices, South Africa’s mining-focused manufacturers and equipment suppliers view ongoing innovation, including embracing digitalisation and artificial intelligence (AI), as increasingly central to their survival... →

Horizonte goes into administration amid funding shortfall for Brazil nickel project

By: Mariaan Webb 16th May 2024 Dual-listed Horizonte Minerals has appointed Chad Griffin and Geoff Rowley as administrators, following its inability to secure full financing for the Araguaia nickel project, in Brazil. Despite negotiations with secured creditors and both existing and potential investors to explore alternative... →

Jupiter plans to replicate sustainability approach of Tshipi at other manganese mines

By: Marleny Arnoldi 16th May 2024 ASX-listed Jupiter Mines continues to advance environment, social and governance (ESG) initiatives at its 49.9%-owned Tshipi manganese mine, in South Africa, alongside its partner Ntsimbintle Mining. Jupiter CEO and MD Brad Rogers says ESG for the company is about real sustainability, genuine... →

Jupiter CEO and MD Brad Rogers

Harena secures US offtaker for rare earth products from incoming Madagascar project

By: Marleny Arnoldi 16th May 2024 Australian natural resources company Harena Resources has signed a nonbinding indicative offtake term sheet with US-based United Rare Earths for the sale and purchase of mixed rare earth carbonate product. Harena is advancing its 75%-owned Ampasindava rare earths ionic clay project in... →

Area around Ampasindava project

Shirley Hayes appointed executive chairperson of Copper 360

By: Creamer Media Reporter 16th May 2024 JSE-listed Copper 360 has appointed Shirley Hayes executive chairperson. Until now, she had served as nonexecutive chairperson. The copper producer says the change to her position comes as the commissioning of two plants at Copper 360's mining operations will demand significant focus from the... →

Shirley Hayes

Eyes turn to Union Buildings after NCOP approves Electricity Regulation Amendment Bill

By: Terence Creamer 16th May 2024 The National Council of Provinces (NCOP) has approved the Electricity Regulation Amendment (ERA) Bill, which has far-reaching implications for the future structure and operation of an electricity supply industry that has hitherto been dominated by Eskom. The Bill received support from all... →

Photo by Creamer Media
President Cyril Ramaphosa may sign ERA Bill ahead of the elections

Afrimat delivers strong full-year results, continuing growth

By: Tasneem Bulbulia 16th May 2024 During its financial year to February 29, midtier mining and materials company Afrimat invested considerably in projects that are expected to yield fruitful returns and further strengthen diversity and competitive advantage, group CEO Andries van Heerden said. One such project was the Nkomati... →

CEO Andries van Heerden

Fraser Institute survey shows marked declines in African countries’ investment attractiveness

By: Marleny Arnoldi 16th May 2024 The latest Fraser Institute Survey of Mining Companies has found that various African countries, including Niger, Mozambique, Zimbabwe and Senegal, have ranked among the lowest for investment attractiveness for mining exploration. Africa is unfortunately ranked as the region with the most... →

Global mining community places Western Australia on notice

By: Creamer Media Reporter 16th May 2024 The release of the yearly Fraser Institute Survey shows that Western Australia’s stranglehold as one of the most attractive jurisdictions in the world for mining, is not to be taken for granted. The latest results show a declining trend in Western Australia in recent years, dropping from fourth... →

Mashatile says Jagersfontein house rebuilding project is advancing

By: Marleny Arnoldi 16th May 2024 Deputy President Paul Mashatile has assured the National Council of Provinces that the Jagersfontein house rebuilding project is well under way. This project follows the collapse of a tailings dam wall at the Jagersfontein diamond mine, in the Free State, on September 11, 2022, resulting in a mud... →

Satellite image of the Jagersfontein tailings dam disaster

PGM-boosted green hydrogen backed by resolute South African govt's commitment

By: Martin Creamer 16th May 2024 The production of green hydrogen, which is most effectively generated when catalysed by platinum group metals (PGMs), has profound economic and social implications, including job creation, skills development, and the fostering of new industries along a multifaceted mining, manufacturing and... →

Higher Education & Training DDG Zukile Mvalo’s green hydrogen presentation covered by Mining Weekly’s Martin Creamer. Video: Creamer Media’s Shadwyn Dickinson. Video Editing: Nicholas Boyd.

ANC walks political tightrope over coal plant shutdowns

By: Reuters 16th May 2024 In a ward where South Africa's governing African National Congress won handily in local elections three years ago, party campaign worker Poppy Vilakazi has been getting a decidedly frosty reception lately. "Mostly they are angry," she told Reuters, speaking in Komati, a village in the shadow of a... →

ANC leader Cyril Ramaphosa

Saskatchewan retains crown as Canada’s top-rated mining jurisdiction – survey

By: Creamer Media Reporter 16th May 2024 Saskatchewan has reaffirmed its status as the leading mining investment destination in Canada and among the top three globally, according to the latest findings from the Fraser Institute’s Annual Survey of Mining Companies. Released this week, the survey placed Utah and Nevada as the two top... →

The Seabee mine in Saskatchewan.

Large igneous phosphate resource in Norway could redefine EU critical minerals supply chain

By: Darren Parker 16th May 2024 Norwegian mining and exploration company Norge Mineraler chairperson John Vergopoulos says the discovery of a large igneous phosphate deposit sets the company apart as a key supplier of raw critical materials for the European Union’s (EU’s) energy transition. Norge has identified a geological... →

Photo by Bloomberg
The main supplier of igneous phosphate to the EU was Russia, which is no longer viable

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