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Seriti Green raises need for Africa to appraise vanadium as electricity storage battery metal 
By: Martin Creamer 3rd February 2023 Wind farm builder Seriti Green, which is planning substantial electricity storage capacity at its big renewable energy project in Mpumalanga, has raised the need for vanadium to be appraised as a battery storage metal of choice in Africa owing to the difficulties of sourcing lithium batteries.... →
Proudly South African technology catches eye of fusion project researchers
By: Martin Creamer 3rd February 2023 Innovative Proudly South African membraneless technology has caught the eye of the engineers involved in the huge global ITER fusion project as a possible solution to recover tritium from tritiated water. The membraneless technology is the brainchild of Hydrox Holdings engineers, based in... →
The Hydrox team (from left) CEO Corrie de Jager, process engineer Jason Cuomo, director/inventor George Anagnostopoulos, and director Paul van de Vyver.
Thungela diversifying with Australian coal mine acquisition
By: Tasneem Bulbulia 3rd February 2023 JSE-listed Thungela Resources has entered into agreements to acquire a controlling interest in the Ensham coal mine, an operating thermal coal asset, in Queensland, Australia. Thungela has, subject to regulatory approvals, entered into an agreement with Audley Energy and Mayfair Corporations... →
Serious challenges face the South African junior coal mining sector
By: Rebecca Campbell 3rd February 2023 The major problems facing the junior and emerging coal mining sector in South Africa were finance, a dysfunctional regulator and logistical difficulties. These were highlighted in a panel discussion at the Southern African Coal Conference, in Cape Town, on Friday. Minerals Council Junior and... →
Just energy transition good for South Africa but coal sector has to be involved
By: Rebecca Campbell 3rd February 2023 A Just Energy Transition (JET) was in the interests of South Africa, the World Bank has concluded. So reported World Bank senior energy economist Mariano Salto in a panel discussion at the Southern African Coal Conference, in Cape Town, on Friday. Renewable energy was the least-cost energy option... →
Marula Mining seeks listing on the Aim
By: Tasneem Bulbulia 3rd February 2023 AQSE-listed Marula Mining intends to seek a listing of its ordinary shares on the LSE’s Aim market, subject to the preparation and acceptance of all the requisite documentation and regulatory approvals. Marula is an Africa-focused battery metals investment and exploration company and has... →
South Africa’s century-old Rand Refinery runs at 75% as mines dim
By: Bloomberg 3rd February 2023 South Africa’s largest gold refiner is operating below capacity as output from local mines dwindles and supplies from elsewhere on the continent are scooped up by unaccredited rivals. The 102 year-old Rand Refinery in the east of Johannesburg – the only African refiner accredited with the London... →
DRDGold to report higher interim earnings, revenue as rand gold price increases
By: Darren Parker 3rd February 2023 Gold producer DRDGold expects to report revenue of R2.65-billion for the six months ended December 31. In a February 3 trading update to shareholders, ahead of the planned publication of its interim results on February 15, the company noted that revenue had increased by 6% year-on-year. →
Gold Fields disputes Ghana tax bill
By: Reuters 3rd February 2023 Gold Fields on Thursday said it is disputing tax payments demanded by the Ghana Revenue Authority (GRA) after an audit and is working with the tax authority to resolve the matter. Gold Fields, which has three gold-mining operations in Ghana, said it could not disclose the size of the back taxes... →
Implats’ interim earnings steady, despite lower refined output
By: Marleny Arnoldi 3rd February 2023 JSE-listed Impala Platinum Holdings expects its earnings before interest, taxes, depreciation and amortisation (Ebtida) for the six months ended December 31 to remain broadly unchanged from the Ebitda of R24.5-billion reported for the six-month period ended December 31, 2021. The company, which... →
CSIR to showcase VR technology at Mining Indaba
By: Darren Parker 3rd February 2023 Virtual reality (VR) training technology designed by the Council for Scientific and Industrial Research (CSIR) to enhance the safety of mineworkers through knowledge training on hazardous underground incidents, will be showcased at the Investing in African Mining Indaba taking place at the Cape... →
Twin Hills definitive feasibility study progressing – Osino
By: Donna Slater 3rd February 2023 TSX-V-listed gold explorer and developer Osino Resources is progressing with developing a definitive feasibility study (DFS) for its Twin Hills gold project, in Namibia, and is conducting trade-off studies and assessing risks and opportunities for infrastructure enhancement, water and power... →
Zimbabwe allows miners, exporters to keep more forex from exports
By: Reuters 3rd February 2023 Zimbabwe's central bank on Thursday said it will allow exporters, including miners, to keep 75% of their export earnings in foreign currency after the current cap of 60% drew complaints from the industry. The new measure, however, falls short of miners' demands to keep 80% of their export... →
Decision on class action proceeding against Anglo now in High Court’s hands
By: Marleny Arnoldi 3rd February 2023 UK-based law firm Leigh Day has confirmed the conclusion of an eight-day hearing in the South African High Court to determine whether a class action lawsuit against diversified miner Anglo American can proceed. The parties expect to hear the court’s verdict and next steps of the proceedings in... →
Resolute appoints London-based CFO
By: Esmarie Iannucci 3rd February 2023 Gold miner Resolute Mining has appointed Chris Eger as the company’s new CFO. Resolute said on Friday that Eger’s appointment comes following the company’s decision to move the CFO position to London, with Eger replacing Doug Warden, who has decided not to relocate. →
Visible gold struck in first hole drilled at Segele
By: Darren Parker 3rd February 2023 Ethiopia-focused gold exploration and mining company Akobo Minerals has hit visible gold in its first drill hole at the third mineralisation style 140 m from the main Segele area in Ethiopia. Akobo said in statement on February 3 that, following the recent announcement of the discovery of the... →
Tertiary raises £300 000 to fund exploration
By: Tasneem Bulbulia 3rd February 2023 Aim-listed Tertiary Minerals has raised £300 000 before expenses through a placing of 250-million new ordinary shares and 125-million attached warrants in the company. The placing was arranged through the its joint broker, Peterhouse Capital. →
Renewables projects, Mining Indaba make headlines
3rd February 2023 This week, Mining Weekly Editor Martin Creamer discusses the 155 MW wind farm that Seriti Green is constructing in Mpumalanga; the first phase of Blyvoor Gold Mine's solar energy project; and this year’s Mining Indaba, which kicks off in Cape Town next week. →
Exxaro recognised in Bloomberg Gender Equity Initiative for fourth year
By: Schalk Burger 3rd February 2023 Diversified miner Exxaro Resources has been recognised in the 2023 Bloomberg Gender Equity Initiative (GEI) – its fourth consecutive year of being recognised. The group says it is a testament to its gender equality and inclusion. →
Iron-ore retreats on China demand rethink, price curbs worry
By: Reuters 3rd February 2023 Dalian iron-ore futures dipped on Friday, deepening weekly losses as traders reassessed demand prospects in top steel producer China and exercised caution after market regulators repeatedly warned against excessive price speculation. The steelmaking ingredient's most-active May contract on... →
Russians bought record number of gold bars in 2022, data shows
By: Reuters 3rd February 2023 Russians bought an all-time record number of gold bars in 2022, finance ministry data showed on Friday, as tax cuts on precious metals encouraged people to stock up on bullion as a safe asset. Moscow scrapped its 20% VAT on physical gold trades for individuals last March in a bid to draw people... →
Iamgold sees expansion potential at Gosselin
By: Creamer Media Reporter 3rd February 2023 The 2022 drill pogramme at the Gosselin zone discovery, immediately adjacent to Iamgold's Côté gold project, in Ontario, has demonstrated the expansion potential of the deposit. Some of the highlights include 342.2 m at 1.99 g/t gold in drill hole GOS22-105 from 206.9 m, including 101.8 m at 3.05... →
Price caps affecting gas supply agreements - Appea
By: Esmarie Iannucci 3rd February 2023 The industry body for the oil and gas sector this week said that the price cap placed on the industry by the federal government at the end of last year, was making it difficult to execute gas supply agreements. The Australian Petroleum Production & Exploration Association (Appea) CEO Samantha... →
Dacian nudges shareholders to take action on Genesis bid
By: Esmarie Iannucci 3rd February 2023 ASX-listed Dacian Gold has reminded shareholders that the takeover offer from fellow-listed Genesis Minerals will close on February 20. Genesis is offering 0.0843 of its own shares for every Dacian share held, implying a value of 10.2c a share for the Dacian holding, and an equity value of... →
Strickland raises A$4m
By: Esmarie Iannucci 3rd February 2023 Junior Strickland Metals will raise A$4-million in a share placement to institutional and sophisticated investors to fund ongoing exploration work at its flagship Yandal gold project, in Western Australia. The ASX-listed company will place 125-million shares at a price of 3.2c each under its... →
Sprott launches four new energy transition-focused ETFs
By: Creamer Media Reporter 3rd February 2023 Sprott Asset Management, a subsidiary of precious metals and energy transition investment group Sprott, has launched four exchange traded funds (ETFs) focused on providing investors pure-play exposure to critical minerals essential to the generation, transmission and storage of cleaner energy.... →
Value of US mine production jumps to $98bn – USGS
By: Creamer Media Reporter 3rd February 2023 US mines produced $98.2-billion in nonfuel mineral commodities in 2022, an estimated $3.6-billion increase over the 2021 revised total of $94.6-billion, the US Geological Survey (USGS) announced on Thursday, releasing its yearly mineral commodity summaries report. The report covers more than 90... →
Colombia's mining royalties hit record $1.32bn in 2022 - industry group
By: Reuters 3rd February 2023 Colombia's mining industry hit a record 6.13-trillion pesos ($1.32-billion) in royalties last year, the Colombian Mining Association (ACM) said on Thursday. The record royalties come at a time when the government of Colombian leftist President Gustavo Petro hopes to wean Latin America's... →
South Africa says finalising climate plan as Mminele quits
By: Bloomberg 3rd February 2023 South Africa is finalising an implementation plan for an $8.5-billion climate finance deal with some of the world’s richest countries even as the head of the Presidential Climate Finance Task Team quit, a government spokesperson said. An offer to extend the contract of Daniel Mminele, the head of... →
Plug pulled on LNG import terminal in NSW
By: Esmarie Iannucci 3rd February 2023 Reports emerged on Friday that Energy Projects and Infrastructure Korea (EPIK) had shelved plans for its $589-million Newcastle GasDock liquefied natural gas (LNG) import terminal in New South Wales. In its gas inquiry report released late in January this year, the Australian Competition and... →
Copper's fight for critical mineral status gets political push
By: Bloomberg 3rd February 2023 Some of the biggest names in copper have found high-ranking political allies to support their efforts to get the wiring metal added to a list of minerals deemed critical to the US. Senator Kyrsten Sinema, an Independent from Arizona, sent a letter with other lawmakers on Thursday urging Interior... →
Openpit activities start at Kathleen Valley
By: Esmarie Iannucci 3rd February 2023 Openpit mining operations have started at the Kathleen Valley lithium project, with the project still on track to produce its first product in mid-2024. ASX-listed Liontown Resources on Friday reported that the first blast at Kathleen Valley has been successfully fired, and the openpit mining... →
Calls arise to put aluminium on critical minerals list
By: Esmarie Iannucci 3rd February 2023 The incoming president of the Australian Aluminium Council has called on the federal government to put bauxite, alumina and aluminium on the nation’s critical minerals list. “Aluminium is, and will continue to be, one of the most widely used commodities in the global clean energy transition. To... →
Strike won't increase Warrego offer
By: Esmarie Iannucci 3rd February 2023 Suitor Strike Energy on Friday confirmed it would not be increasing its current offer for takeover target Warrego Energy, with the company’s voting power now standing at 24.91%. The ASX-listed Strike is offering one new share for each Warrego share held. →
Winsome raises A$60m for Canadian exploration
By: Esmarie Iannucci 3rd February 2023 ASX-listed Winsome Resources has announced a A$60-million capital raise to accelerate lithium exploration at its projects in Canada. The capital raise will consist of a combination of flow-through shares (FTS), an institutional placement and a share purchase plan (SPP). →
Magazine round up | 03 February 2023
3rd February 2023 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. →
Eskom confirms diesel funding, outlines nuclear fuel options
By: Terence Creamer 2nd February 2023 Struggling power utility Eskom has confirmed that it has secured funding to pay for its diesel requirements for the remainder of the current financial year, which ends on March 31, but has not yet provided full details on the funding mechanism. Speaking during a hastily convened media conference... →
Ramaphosa to deliver keynote address at Mining Indaba
By: Martin Creamer 2nd February 2023 South African President Cyril Ramaphosa has confirmed his attendance at the Mining Indaba taking place in Cape Town next week, from Monday to Thursday. Ramaphosa, accompanied by eight ministers and three deputy ministers, will deliver a keynote address on Tuesday, 7 February. →
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