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Bill Gates-led fund invests in making lithium mining more sustainable

By: Bloomberg     Updated 10 minutes ago Breakthrough Energy Ventures, helmed by Bill Gates, and MIT’s The Engine fund are leading an investment round of $20-million for Lilac Solutions, a US startup aimed at making the extraction of lithium less water-intensive and more sustainable. As the world looks to cut carbon emissions, people... 

Anglo delivers $3.5bn profit, declares final dividend

By: Martin Creamer     Updated 11 minutes ago Diversified mining company Anglo American delivered 2019 profit attributable to equity shareholders of $3.5-billion, in line with the prior year. The company, headed by CEO Mark Cutifani, generated underlying earnings of $10-billion, a 9% increase, and $2.3-billion of attributable free cash flow. 

Anglo delivers $3.5bn profit, declares final dividend
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Natascha Viljoen to succeed Griffith as Amplats CEO

By: Marleny Arnoldi     Updated 43 minutes ago Platinum group metals (PGMs) miner Anglo American Platinum (Amplats) has announced that Natascha Viljoen has been appointed to succeed Chris Griffith as CEO. Amplats earlier this week said Griffith would step down to pursue other career opportunities.  

Natascha Viljoen to succeed Griffith as Amplats CEO
Amplats incoming CEO Natascha Viljoen

France's Eramet freezes lithium mine project in Argentina

By: Reuters     19th February 2020 Eramet has postponed an Argentine lithium mine project aimed at shifting the group's focus towards electric vehicle minerals, it said, citing economic and regulatory uncertainty in the debt-stricken South American country. The French company had been due to make a final investment decision on... 

Price-spiking palladium must be substituted with platinum – Sibanye-Stillwater 

By: Martin Creamer     19th February 2020 It is incumbent on the end users to help platinum group metals mining companies to a position where the platinum price will not be destroyed, Sibanye-Stillwater CEO Neal Froneman said on Wednesday. Speaking during the presentation of superlative results, Froneman said the industry could not... 

Price-spiking palladium must be substituted with platinum – Sibanye-Stillwater
Photo by Creamer Media's Donna Slater
Neal Froneman

Very Proudly South African Sibanye-Stillwater set to take on world – Froneman 

By: Martin Creamer     19th February 2020 An upbeat Neal Froneman said on Wednesday that world would see his “very Proudly South African’ precious metals mining company Sibanya-Stillwater take on global companies across the world. Speaking after the relisting of the platinum group metals (PGM) and gold mining company at the Johannesburg... 

Very Proudly South African Sibanye-Stillwater set to take on world – Froneman
Photo by Creamer Media's Donna Slater
JSE CEO Dr Leila Fourie (left) and Sibanye-Stillwater CEO Neal Froneman.

Hydrogen fuel cells the next big disruptive technology – Sibanye-Stillwater  

By: Martin Creamer     19th February 2020 The next big disruptive technology will be hydrogen fuel cell technology, which is platinum rich, Sibanye-Stillwater CEO Neal Froneman said on Wednesday. Speaking ahead of half-year results of a 44% increase in revenue to R73-billion and a R432-million profit for 2019, Froneman stated that this... 

Hydrogen fuel cells the next big disruptive technology – Sibanye-Stillwater
Sibanye-Stillwater CEO Neal Froneman talks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer. Photographs: Donna Slater.

Sibanye-Stillwater delivers phenomenal 260% return – JSE 

By: Martin Creamer     19th February 2020 Top-performing Sibanye-Stillwater delivered a phenomenal return of 260% on the Johannesburg Stock Exchange in 2019, JSE CEO Dr Leila Fourie stated on Wednesday when the company relisted to the accompaniment of a rapid 5.3% early-afternoon soaring of its share price. From a Gold Fields spinoff... 

Sibanye-Stillwater delivers phenomenal 260% return – JSE
Photo by Creamer Media's Donna Slater
Sibanye-Stillwater's ceremony at JSE

ERG mulls construction of battery metals plant

By: Creamer Media Reporter      19th February 2020 Diversified natural resources group Eurasian Resources Group (ERG) is assessing options for the construction of a plant to produce nickel/cobalt/manganese (NCM) precursor materials for use in lithium-ion batteries in electric vehicles (EVs). The group is planning to develop the proposed plant in... 

Moody’s expanded gold price range allows for flexibility in credit assessments

By: Marleny Arnoldi     19th February 2020 Ratings agency Moody’s has expanded its price sensitivity range for gold, based on supportive factors such as lower-for-longer interest rates and geopolitical uncertainties. Moody’s has increased the higher end of the sensitivity range by $100/oz to $1 400/oz, while the lower end of the range... 

Odey urges Anglo American to raise bid for Sirius Minerals

By: Reuters     19th February 2020 London-based hedge fund Odey Asset Management said it would oppose Anglo American's bid to acquire a huge fertiliser project from Sirius Minerals at 5.5p a share, saying the terms do not represent fair value. The asset under a national park in North Yorkshire is Britain's biggest mining project... 

Odey urges Anglo American to raise bid for Sirius Minerals

Gold tops $1 600 as virus fuels growth fears

By: Bloomberg     19th February 2020 Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus and how it’s impacting global growth. Palladium topped $2 700/oz as it continued its record-breaking rally. Bullion steadied after surging 1.3% Tuesday’s as Apple’s warning that the virus and efforts... 

South Africa’s Astron ‘a nice short to have for the trading business’ – Glencore 

By: Martin Creamer     18th February 2020 Glencore CEO Ivan Glasenberg on Tuesday described his company’s investment in Astron Energy oil refinery and fuel distribution station business in South Africa as “a nice short to have for the trading business”. The Chevron oil refinery in Cape Town and the Caltex brand now fall under Astron... 

Centerra reports fatality at Kumtor

By: Creamer Media Reporter      18th February 2020 The Kumtor mine, in Kyrgyzstan, has suffered a fatality, owner Centerra Gold reported on Tuesday. At the weekend, a Kumtor employee succumbed to a fatal injury while operating an excavator, which tipped and then slipped down into a water-filled basin near the edge of Petrov lake, which is... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve 

By: Martin Creamer     18th February 2020 Climate-friendly energy transition metals, copper, cobalt and nickel, stole the limelight during Glencore’s presentation of 2019 results on Tuesday, when the company revealed that it would be depleting its coal reserves in line with the global move towards a low-carbon economy. Presenting... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve
Photo by Bloomberg
Ivan Glasenberg

Glencore's lower earnings reflect uncertain trade deal negotiations 

By: Martin Creamer     18th February 2020 The 2019 performance of diversified mining and marketing company Glencore reflected the prolonged and uncertain trade deal negotiations, generally weaker prices for key commodities and some operational challenges experienced at the ramp-up and development of assets, CEO Ivan Glasenberg said on... 

Glencore's lower earnings reflect uncertain trade deal negotiations
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Glencore provides update on its transition to low-carbon economy

By: Martin Creamer     18th February 2020 JOHANNESBURG (miningweekly.com) – Diversified mining and marketing company Glencore on Tuesday published an update on its performance in transitioning towards a low-carbon economy. This follows its climate change position statement of February 2019. 

Glencore provides update on its transition to low-carbon economy
Photo by Bloomberg
Ivan Glasenderg

Petropavlovsk confirms potential Moscow listing

By: Mariaan Webb     18th February 2020 London-listed gold mining company Petropavlovsk on Monday confirmed that it was considering a dual-listing on the Moscow Stock Exchange. The company’s statement was in response to media reports that it was considering a dual listing to raise money from Russian investors to pay down its... 

Polish miners' strike may hit the wall as coal is on the way out

By: Bloomberg     18th February 2020 Polish coal miners planning a protest in Warsaw later this month may find it more difficult than ever to secure their pay hike demands. The workers, whose strong negotiating position harks back to the Solidarity union’s emblematic fight against communism, have so far seen most of their... 

Polish miners' strike may hit the wall as coal is on the way out

Rio submits power plans for Oyu Tolgoi

By: Esmarie Iannucci     18th February 2020 Major Rio Tinto has submitted a feasibility study for the Tavan Tolgoi power plant (TTPP) project, to the government of Mongolia, as part of its electricity solution for the Oyu Tolgoi copper project. The TTPP will involve the construction of a 300 MW coal power plant, with Rio on Tuesday... 

Modernisation, digitisation part of next value delivery – Amplats  

By: Martin Creamer     17th February 2020 Top of the list of the four focus areas of platinum group metals (PGM) mining company Anglo American Platinum (Amplats) to drive its next phase of value is operational efficiency. Outlining this at the company’s presentation of record financial and safety achievements, Amplats CEO Chris Griffith... 

Modernisation, digitisation part of next value delivery – Amplats
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Substitution outlook intensifies with platinum at half palladium price ­– Amplats 

By: Martin Creamer     17th February 2020 With the price of platinum at half of the palladium price, the concept of replacing palladium with platinum in some gasoline catalyst convertors is increasingly likely to occur – but not in the very short term, outgoing Anglo American Platinum (Amplats) CEO Chris Griffith said on Monday.... 

Substitution outlook intensifies with platinum at half palladium price ­– Amplats
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Hydrogen fuel cell mining set to cut Amplats’ greenhouse gas emissions – Griffith  

By: Martin Creamer     17th February 2020 The introduction of hydrogen fuel cell mining in response to climate change is poised to cut the greenhouse gas emissions of platinum group metals mining company Anglo American Platinum by 30%. A large enabler of this significant reduction is the introduction of hydrogen fuel cell mining trucks,... 

Hydrogen fuel cell mining set to cut Amplats’ greenhouse gas emissions – Griffith
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Royal Mint launches gold-backed securities tradable on London Stock Exchange

By: Reuters     17th February 2020 Britain's 1 100-year-old Royal Mint said on Monday it will launch an exchange-traded product this week backed by physical gold held in its vault in Wales, which will trade on the London Stock Exchange. Gold exchange-traded products, which issue securities backed by metal they buy and store on... 

Petra adjusts cash flow target amid weak diamond market, coronavirus outbreak 

By: Marleny Arnoldi     17th February 2020 London-listed Petra Diamonds has cut its cash flow targets amid a weak diamond market, owing to the coronavirus outbreak, which started to affect Chinese citizens late last year and has since spread to 24 countries. Reporting on its results for the six months ended December 31, Petra on Monday... 

Petra adjusts cash flow target amid weak diamond market, coronavirus outbreak
Photo by Creamer Media
Petra Diamonds CEO Richard Duffy

Record-performing Amplats applying for 75 MW solar power at Mogalakwena

By: Martin Creamer     17th February 2020 Platinum group metals (PGMs) mining company Anglo American, which has reported record safety, record financials and the highest dividend in 15 years, has submitted an application to be allowed to self-generate 75 MW of solar power at its Mogalakwena mine where the world’s largest hydrogen fuel... 

Record-performing Amplats applying for 75 MW solar power at Mogalakwena
Photo by Creamer Media's Donna Slater
Chris Griffith

Chris Griffith to step down as Amplats CEO

By: Martin Creamer     17th February 2020 Anglo American Platinum (Amplats) CEO Chris Griffith is to step down as CEO of the company after seven years at the helm, the board of Anglo American Platinum said on Monday. The company announced that Griffith, who took Kumba Iron Ore to great heights before taking on Amplats, will also leave... 

Chris Griffith to step down as Amplats CEO
Photo by Creamer Media's Donna Slater
Chris Griffith

US-Canada critical metals focus could aid Nico

By: Tracy Hancock     17th February 2020 The Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories, is among several advanced critical minerals projects in the country that could be fast-tracked to production stage with some government assistance, says developer Fortune Minerals. 

US-Canada critical metals focus could aid Nico
PROJECT OVERVIEW Fortune Minerals is working on increasing grade and gold contribution from its Nico deposit and reducing the capital costs of production facilities

Sirius Minerals fails to find financial support, recommends Anglo bid

By: Reuters     14th February 2020 Sirius Minerals said on Friday talks with a consortium of financial investors on an alternate debt financing proposal to raise $680-million has fallen through, putting the company at the risk of going under administration or liquidation. "The board confirms that the company has not been able to... 

Sirius Minerals fails to find financial support, recommends Anglo bid

China’s massive car-sales slump threatens palladium’s rally 

By: Bloomberg     14th February 2020 A record 22% slump in China’s January car sales is threatening to derail the rally in palladium, used to curb emissions from vehicles. The precious metal generated a 59% return for investors last year, the most of any commodity tracked by a DCI BNP Paribas gauge. The rally was fueled by... 

Gemfields’ shares start trading on London’s Aim

By: Marleny Arnoldi     14th February 2020 JSE- and Botswana-listed Gemfields on Friday also started trading on the Aim market of the LSE. At the time of admission, the company’s total issued share capital consisted of 1.2-billion ordinary shares, of which 96-million were held by the company itself. “The Aim listing seeks to provide UK,... 

Indian jewellery market increasingly preferring platinum over traditional gold

By: Marleny Arnoldi     14th February 2020 Platinum Guild International’s (PGI’s) February 2020 Insight report shines a light on how marketing can leverage shifts in demographics and steer consumer behaviour to create demand across consumer segments in India. PGI reports that India has become the fastest growing platinum jewellery... 

Katoro hopes to sell subsidiary soon, continues to explore Tanzanian deposit

By: Marleny Arnoldi     14th February 2020 Aim-listed gold and nickel project developer Katoro Gold has been pursuing various project opportunities to benefit the company and advance what it says is a transformational phase for the company. Subject to funding being secured, the company’s tailings exploitation joint venture with South... 

Metal Tiger increases stake in Kalahari Metals

By: Marleny Arnoldi     14th February 2020 Aim-listed Metal Tiger plans to invest a further $1.5-million in Botswana-based Kalahari Metals (KML), which will increase its stake in the company to 62.2%. Additionally, Metal Tiger has been conditionally granted a 2% net smelter royalty over all of KML’s wholly-owned licences, which... 

Portuguese communities lock horns with lithium miners to save their land

By: Reuters     14th February 2020 The lush, green hills where Paulo Pires has for years brought sheep to graze above his picturesque Portuguese village may soon be transformed by the race to power electric vehicles. Signs of change already give him sleepless nights. Hundreds of drill holes across the countryside show where... 

Robbery attempt prompts security step-up at South Deep – Gold Fields  

By: Martin Creamer     14th February 2020 Security is being stepped up at South Deep gold mine in Gauteng to present an even more resistant barrier to armed criminals, said Gold Fields executive vice-president Martin Preece said on Thursday. This action follows last year’s gold robbery attempt at the mine by machine-gun wielding gangsters. 

Robbery attempt prompts security step-up at South Deep – Gold Fields
Gold Fields EVP Martin Preece talks to Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

First Quantum posts surprise profit on higher copper sales, output

By: Reuters     14th February 2020 Canada's First Quantum Minerals posted a surprise profit on Thursday, helped by higher sales and production, driven by a ramp up of its Cobre Panama copper mine. First Quantum's total copper production rose 29% to 204 270 t, while sales jumped 31.8%. The company has been actively developing its... 

Rio punts refinery technology

By: Esmarie Iannucci     14th February 2020 Mining giant Rio Tinto and aluminium equipment supplier STAS have agreed to terms to commercialise Rio’s advanced compact filtration (AFC) technology for aluminium cast houses. The ACF technology developed by Rio will now be manufactured and sold under license by equipment manufacturer STAS... 

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