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Development is only conversation South Africa should be having, Cutifani tells Joburg Indaba 
By: Martin Creamer 6th October 2022 Development is the only conversation that South Africa should be having, former Anglo American CEO, director and consulting business executive Mark Cutifani said amid strong applause at the Joburg Indaba on Thursday – and mining should be recognised as an industry that can serve as a very... →
Decarbonisation underpins RBM’s move to buy solar electricity from 148 MW project
By: Terence Creamer 6th October 2022 Leading South African mineral sands producer Richards Bay Minerals (RBM) has entered into a 20-year power purchase agreement (PPA) with independent power producer Voltalia for the supply of wheeled renewable energy from a 148 MW solar photovoltaic (PV) facility in Limpopo to its smelting and... →
Jupiter warns Transnet strike could impact Tshipi Borwa operations
By: Darren Parker Updated 1 hour 35 minutes ago ASX-listed Jupiter Mines has warned the market that nationwide strike action by some employees of South African State-owned rail and port services provider Transnet may affect the Tshipi Borwa manganese mine operations, in the Northern Cape, with regard to its rail logistics and port operations.... →
Transnet declares force majeure for third time in 15 months
By: Bloomberg Updated 3 hours ago State-owned ports and freight rail operator Transnet declared force majeure on the same day that strike action began, the third time Transnet has taken this drastic step since July last year. “At this time, we anticipate that portions of our operations will be scaled down,” Transnet said in a... →
Harmony diversifies with $230m Australia copper acquisition
By: Mariaan Webb 6th October 2022 South Africa-headquartered Harmony Gold is extending its diversification drive, announcing on Thursday that it would buy a copper/gold project in Australia for up to $230-million. The JSE- and NYSE-listed gold miner will buy the Eva Copper project and its 2 100 km2 exploration land from TSX- and... →
Pan African targets commissioning of newest tailings project in mid-2024
By: Marleny Arnoldi 6th October 2022 Aim- and JSE-listed Pan African Resources says its acquisition of Mogale Gold and Mintails South Africa Soweto Cluster, near Krugersdorp, in Gauteng, has been finalised for R50-million, or $2.8-million. The assets were previously owned by Mintails Mining South Africa, which was placed in... →
Gold price falls for sixth consecutive month
By: Darren Parker 7th October 2022 The gold price fell for the sixth consecutive month, dropping 2.6% to finish September at $1 671.8o/oz on the back of the twin headwinds of a surging dollar and higher bond yields, according to October 6 commentary by the World Gold Council (WGC). The council said it was a challenging month for... →
Inflation Reduction Act presents platinum demand opportunity
By: Tasneem Bulbulia Updated 3 hours ago In a recent report, ‘Hydrogen Insights 2022’ the Hydrogen Council in collaboration with McKinsey & Co state that capturing the maximum climate value of hydrogen to help meet the 2050 net-zero carbon emissions target requires a tripling of investment in hydrogen projects to $700-billion by 2030.... →
Besides 2021, more power was cut in September than in any other year since load-shedding started
By: Terence Creamer 6th October 2022 Eskom data has confirmed that South Africans endured their worst-ever month of load-shedding in September 2022, with a total of 1 503 GWh estimated to have been shed and with 572 hours of the month’s 720 hours directly affected. Analysis by Eskom Research, Testing and Development’s Dr Ulrich... →
Eskom load-shedding data
Big green hydrogen project on way via European/Australian partnership
By: Martin Creamer 6th October 2022 An integrated green hydrogen project to help Europe mitigate its current energy and climate crisis and to bring green molecules to Europe is being brought about by a European-Australian partnership. The key personalities developing what is described as the world’s largest green hydrogen... →
Transnet puts contingency measures in place as rail, port workers strike
By: Darren Parker 6th October 2022 State-owned Transnet has advised that, with some employees across its operations embarking on strike action following non-resolution in the ongoing wage negotiations, contingency plans will be implemented, with the company vowing to do all in its power to ensure the safety of personnel and... →
Thungela says Transnet strike unlikely to have significant impact on export sales
By: Chanel de Bruyn 6th October 2022 Coal miner Thungela Resources says it does not expect a strike by State-owned Transnet's rail and port employees to have a significant impact on its coal sales for the fourth quarter, unless the industrial action is protracted. "Rail constraints over recent months have resulted in relatively high... →
Drilling indicates potential for Bird Reef Central to be uranium/gold project
By: Tasneem Bulbulia 6th October 2022 ASX-listed West Wits Mining says the assay results from three diamond holes of a Phase 1 uranium drilling programme at the Witwatersrand Basin Project (WBP) underscore the Bird Reef Central area’s potential to be a uranium/gold project. The objective of the drilling programme was to confirm... →
Sibanye exploring further means of treating water, extracting value
By: Schalk Burger 6th October 2022 JSE-listed diversified mining company Sibanye-Stillwater has built various innovative water treatment plants and is researching and developing new technologies to treat water, as well as extract valuable materials from the water it treats, Sibanye-Stillwater South Africa mine water treatment... →
Trevali’s Burkina Faso subsidiary files application for liquidation
By: Tasneem Bulbulia Updated 2 hours 30 minutes ago Canadian-headquartered Trevali Mining’s 90%-owned subsidiary Nantou Mining Burkina Faso has filed an application for liquidation with the Judicial Tribunal of Commerce in Burkina Faso. Under applicable Burkinabe law, a liquidator is expected to be appointed by the Judicial Tribunal in the coming... →
NUM signs three-year wage deal with Ergo Mining
By: Marleny Arnoldi 6th October 2022 The National Union of Mineworkers (NUM) has signed a three-year wage agreement with gold miner DRDGold’s surface retreatment entity Ergo Mining, effective July 1. Category four to five employees will receive a 9.5% increase and category six to nine employees an 8% increase, while category ten... →
Kropz makes drawdown on bridge loan facility
By: Tasneem Bulbulia 6th October 2022 Aim-listed Kropz has made the first drawdown of R60.5-million on a September loan from the Africa Rainbow Capital (ARC) Fund. The emerging African phosphate producer and developer announced on September 30 that it had entered into a new bridge loan facility of R126-million with its major... →
Alphamin’s quarterly production rates exceed guidance
By: Darren Parker 6th October 2022 Tin miner Alphamin Resources, a producer of 4% of globally mined tin from its high-grade operation in the Democratic Republic of Congo (DRC), produced 3 139 t of tin in the third quarter, which exceeded the previously stated market guidance of 3 000 t. In its operational update for the third... →
Energy transition boosts global long-term demand for metals, says Fitch Ratings
By: Tasneem Bulbulia 6th October 2022 The energy transition will significantly increase demand for metals used in the manufacture of electric vehicles (EVs) and renewable power generation facilities, such as copper, nickel, cobalt and lithium, Fitch Ratings says. It adds that this will require a vast supply response in the next two... →
Buffalo Coal, Investec, Belvedere conclude tripartite agreement
By: Tasneem Bulbulia 6th October 2022 Dual-listed Buffalo Coal’s wholly-owned subsidiary, Buffalo Coal Dundee (BCD), has concluded a tripartite agreement with Investec Bank and Belvedere Resources, pursuant to which BCD will continue to pay Investec the scheduled monthly capital repayments under a credit facility agreement, as agreed... →
First Quantum's nickel plans gain pace
By: Esmarie Iannucci 6th October 2022 Base metals miner First Quantum is targeting the production of between 5 000 t and 10 000 t of nickel from its Enterprise operation, in Zambia, in 2023. Speaking at the Paydirt Nickel conference, First Quantum’s project manager for Zambia, Jacob Gresham said that the company would look to reach... →
Climate systems ‘breakdown’ looms as coal investments soar
By: Bloomberg 6th October 2022 The coal industry has backtracked on pledges to phase out existing plants and halt new investments, putting the planet on a trajectory that could lead to a “breakdown of our climate systems", according to a study led by nonprofit Urgewald. As warnings from climate scientists “become more and... →
Free State govt to build houses for Jagersfontein residents affected by dam burst
By: News24Wire 26th September 2022 The Free State government has announced it will be building about 160 houses for the Jagersfontein families who were displaced following a dam burst on September 11. Premier Sisi Ntombela said the province would be assisting the affected families with 160 new homes. Construction will start on... →
New fund-raising product appropriate for junior miners, says JSE
By: Martin Creamer 23rd September 2022 The JSE has a new product that is appropriate for fund-raising by junior mining companies, JSE origination and deals head Sam Mokorosi said on Friday. Mokorosi, who was speaking at Minerals Council South Africa’s Junior and Emerging Miners Desk webinar, highlighted the new product against the... →
Teck provides metallurgical coal update
By: Creamer Media Reporter Updated 2 hours 55 minutes ago Toronto-listed Teck Resources said on Thursday that its third-quarter steelmaking coal sales were 5.6-million tonnes, which was within its revised guidance of 5.5-million to 5.9-million tonnes. The realised steelmaking coal price, however, declined in the quarter, averaging $304/t. This would... →
NGEx upsizes placement to raise C$30m
By: Creamer Media Reporter Updated 3 hours ago Canada-based copper and gold exploration company NGEx has elected to increase its previously announced nonbrokered private placement to an aggregate of up to 15-million shares at C$2 each for gross proceeds of up to C$30-million. The Lundin Group company initially planned to raise C$20-million... →
Horizonte raises $80m, ups Araguaia capex estimate
By: Mariaan Webb Updated 3 hours ago Nickel developer Horizonte Minerals has scaled up its fundraising following significant institutional demand in the bookbuild from existing and new investors. The company on Tuesday announced a placing of £61.7-million (about $70-million), but a day later upsized that to £70.5-million (about... →
Nevada Copper mulls change of control proposal
By: Mariaan Webb Updated 3 hours ago Cash-strapped Nevada Copper has received a nonbinding term-sheet proposal from a third-party investor, which will result in a change of control of the company. Together with the previously announced $93-million restart package, the proposed change of control transaction would be sufficient to... →
Allegiance raises first A$15m of A$33.6m target
By: Esmarie Iannucci Updated 3 hours ago ASX-listed Allegiance Coal has raised an initial A$15-million in the institutional component of it’s A$33.6-million entitlement offer launched earlier this month. The company on October 5 announced an eight-for-five pro-rata renounceable entitlement, priced a 5c a share, to raise A$33.6-million... →
Allchem sets up funding for Sal de Vida
By: Esmarie Iannucci Updated 4 hours ago ASX-listed lithium developer Allkem has signed a non-binding term sheet with the International Finance Corporation (IFC) over a potential $200-million project finance facility for the Sal de Vida project, in Argentina. IFC’s proposed investment comprises a $200-million debt packing, including... →
SolGold and Cornerstone bury hatchet with friendly merger
By: Mariaan Webb Updated 5 hours ago After a previous hostile takeover attempt of its partner in the Cascabel project, SolGold on Friday announced that it had reached an agreement for a friendly merger with Cornerstone Capital Resources. TSX- and LSE-listed SolGold will acquire all the issued and outstanding shares of TSX-V-listed... →
Stanmore completes SMC buy
By: Esmarie Iannucci Updated 6 hours ago Coal miner Stanmore Resources has completed the acquisition of the remaining 20% interest in the BHP Mitsui Coal (BMC) assets, which have been renamed Stanmore SMC. The final price for the acquisition was settled at $270-million, after adjusting for SMC dividends paid to date, which has been... →
MCA argues against higher taxes for miners
By: Esmarie Iannucci Updated 6 hours ago The Minerals Council of Australia (MCA) said that Australia needed to attract more investment in exploration, mining, minerals processing and mining-related manufacturing if the economy is going to benefit from growing global demand for minerals and metals. “There is strong competition for this... →
Sheffield green-lights Thunderbird
By: Esmarie Iannucci Updated 6 hours ago A final investment decision (FID) on the Stage 1 development of the Thunderbird mineral sands project, in Western Australia, has been taken by ASX-listed Sheffield Resources. The FID comes just days after Sheffield announced that its subsidiary Kimberley Mineral Sands (KMS) has secured a... →
Arena supports Gibson Island hydrogen plans
By: Esmarie Iannucci Updated 6 hours ago The Australian Renewable Energy Agency (Arena) has awarded A$13.7-million in funding to green energy developer Fortescue Future Industries (FFI) and its partner Incitec Pivot (IPL) to fund a front-end engineering and design (FEED) study for the development of a large-scale renewable hydrogen... →
First US cobalt mining operation to begin after more than 30-year hiatus
By: Bloomberg Updated 7 hours ago Booming demand for batteries powering the world’s shift into electric vehicles is rekindling US cobalt production after a nearly 30-year hiatus. Jervois Global is starting the first US cobalt mine in Idaho on Friday, according to chief executive Bryce Crocker. The mineral sits “at the top of the... →
Chile files charges against mining company for giant sinkhole
By: Reuters 7th October 2022 Chile's environmental regulator announced on Thursday four charges against Canadian-owned Lundin copper mine for a sinkhole that appeared at the site of one of its mines the north of the country in late July. The country's SMA environmental regulator said the main infractions were overextraction... →
Magazine round up | 07 October 2022
7th October 2022 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. →
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