https://www.miningweekly.com

Search

By

MiningWeekly.com | Global Mining News | Mining Research | Mining Companies

Global Mining News in real time

Incentive needed for smaller end of stock exchange to survive – Miller

By: Martin Creamer 18th October 2021 An incentive is needed for the listing of companies on the smaller end of the stock exchange, which is facing an existential crisis, said AmaranthCX director and owner Paul Miller on Monday. Reacting to the groundswell of headlines about delistings and lack of listings on the Johannesburg Stock... →

AmaranthCX director and owner Paul Miller interviewed by Mining Weekly’s Martin Creamer. Video: Darlene

Transnet restores some operations at Richards Bay after fire

By: Reuters Updated 2 hours 28 minutes ago South African monopoly port operator Transnet said on Monday it had restored many of its operations since a fire broke out at its Richards Bay terminal last week, but that it still needed to ensure affected areas where safe before resuming others. Richards Bay Bulk Terminal, Africa's largest coal... →

BHP continues with Woodside deal after tough quarter

By: Esmarie Iannucci Updated 1 hour 12 minutes ago Diversified miner BHP has reported a fall in production across the majority of its commodity portfolios, apart from petroleum, during the three months to September. “BHP’s operations delivered reliably during the first quarter and we completed planned major maintenance activities across a number... →

BHP CEO Mike Henry

Thungela lowers production guidance owing to deteriorating rail performance

By: Tasneem Bulbulia 18th October 2021 JSE-listed coal exporter Thungela Resources says that, following an initial recovery in the performance of Transnet Freight Rail (TFR) subsequent to the yearly maintenance shutdown in July, rail performance has continued to deteriorate in the second half of the year. Thungela consequently... →

Mineral nationalisation to remain prominent on back of Covid-19 disruption, green energy transition demand

By: Donna Slater 18th October 2021 A “flare up” in mining resource nationalisation from 2020, is set to continue this year and into 2022, reports financial risk management, solutions and insights firm Fitch Solutions Country Risk and Industry Research (Fitch Solutions). Over the past 12 months, resource nationalism in top mining... →

Nornickel urges scientists to find new ways to use palladium

By: Reuters 18th October 2021 Russia's Nornickel, the world's largest palladium producer, said on Monday it had begun a contest for scientists to find new ways to use the metal that has been hit by a chip shortage in the auto industry, its top consumer sector. Global demand for palladium has weakened recently as automakers,... →

Where a $5bn green incentive runs into politics of coal

By: Bloomberg 18th October 2021 The world’s richest countries are courting South Africa as a model of how to transition to a more climate-friendly future from a dependency on coal. While $5-billion of cheap loans and grants are on offer as a first step, transforming Africa’s most industrialized economy demands more than cash.... →

An image of the coalyard at the Majuba power station

Weekly SA Coal Report

18th October 2021 Another incredibly volatile week with Chinese domestic prices reaching new highs, although both physical and paper coal markers sold off together with power and gas prices. As coal continues to lag gas prices, the positive dark spread continues to drive demand for coal in Europe, continuing to... →

AngloGold offers up notes in refinancing effort

By: Marleny Arnoldi 18th October 2021 JSE-listed AngloGold Ashanti has announced an offer to purchase any and all of its outstanding $750-million 5.1% notes due in August 2022. The company is aiming to refinance a portion of its existing debt. The offer, together with a proposed offering of a new series of debt securities, will... →

Village Main Reefs signs two-year wage agreement with unions

By: Marleny Arnoldi 18th October 2021 Trade unions the National Union of Mineworkers and Uasa have signed a two-year wage agreement with gold miner Village Main Reef (VMR), effective July 1, 2021, to June 30, 2023. This follows an announcement by trade union Solidarity last week that it too had signed the agreement with VMR. →

Nordgold secures second ESG-linked revolving credit facility

By: Tasneem Bulbulia 18th October 2021 Internationally diversified gold producer Nordgold’s wholly-owned subsidiary Celtic Resources Holdings has entered into a three-year $100-million environmental, social and governance- (ESG-) linked revolving credit facility (RCF) with a group of international banks. The syndicated facility was... →

Pallinghurst to acquire 19.2% of Talon Metals

By: Donna Slater 18th October 2021 The Pallinghurst Group, through Pallinghurst Nickel International, on October 18 agreed to acquire 133.61-million common shares of Talon Metals Corporation at a purchase price of $0.60 apiece and an aggregate value of $80.16-million. The acquisition follows a binding private agreement with... →

Gem Diamonds recovers two high-quality diamonds from Letšeng

By: Tasneem Bulbulia 18th October 2021 LSE-listed Gem Diamonds has recovered a high-quality 245 ct Type II white diamond and a high-quality 102 ct Type II white diamond, from the Letšeng mine, in Lesotho. Gem Diamonds owns 70% of the mine, which is known for producing large, top colour, exceptional white diamonds, making it the... →

245 ct

UBS raises copper premium forecast

By: Marleny Arnoldi 18th October 2021 Investment banking company UBS says physical premiums for copper have spiked across regions, alongside falling exchange inventories globally, particularly in China. Copper was up 18% in October and, given the risk power curbs present to refined copper supply, UBS is raising its copper price... →

While metals help ‘greenify’ industry, the industry itself needs cleaning up

By: Marleny Arnoldi 18th October 2021 While global carbon dioxide emissions fell by 5.8% in 2020 owing to Covid-19 lockdowns globally and therefore lower energy demand, Dutch multinational banking corporation ING says it is only a matter of time before they hit record highs again. International Energy Agency (IEA) estimates that... →

Red Rock eyes Côte d’Ivoire opportunities with application for five exploration permits

By: Donna Slater 18th October 2021 LSE-listed gold, copper and cobalt producer Red Rock Resources has submitted applications for five exploration permits through a wholly-owned Côte d’Ivoire subsidiary LacGold Resources (LacGold). Red Rock chairperson Andrew Bell says exploration of some of the largest parts of the west African... →

Kefi responds to media comment concerning safety at Tulu Kapi operations

By: Tasneem Bulbulia 18th October 2021 Aim-listed Kefi Gold and Copper has assured shareholders that it remains confident of project company Tulu Kapi Gold Mines Share Company’s (TKGM’s) ability to deal with any security situation, in accordance with its mining licence requirements and normal industry practices. This follows an... →

South African energy sector the most carbon intensive of G20 nations

By: Schalk Burger 18th October 2021 South Africa’s energy sector has the highest carbon-intensity of the Group of 20 (G20) nations owing to its heavy reliance on coal, according to the latest assessment by Climate Transparency International. In 2020, three-quarters (74%) of South Africa’s total primary energy supply was derived... →

Vale halts operations at nickel mine after court order

By: Reuters 18th October 2021 Brazilian miner Vale said on Monday that it has once again halted operations at its Onca Puma nickel mine after the state of Para obtained a judicial order to reinstate the suspension of the venture's operating license. Operations at Onca Puma were first halted in early October due to alleged... →

Noront and Wyloo formalise offer, BHP has right to match

By: Mariaan Webb 18th October 2021 Canadian nickel developer Noront Resources on Monday announced it had settled the terms of a proposal from Australia’s Wyloo Metals, which at C$0.70 a share in cash was deemed superior to that of BHP Billiton. The offer price is a 27% premium to the C$0.55-a-share offer from BHP to gain control... →

Australia must commit to carbon cuts to keep green energy advantage - Fortescue's Forrest

By: Bloomberg 18th October 2021 Australia risks losing its advantage in the green energy revolution if its leaders don't promptly commit to cutting carbon emissions by 2050, the country's richest man, Fortescue Metals Group founder Andrew Forrest said on Monday. Forrest, who grew Fortescue from a minnow to rival the world's... →

New $370m Nezda mine produces first concentrate

By: Mariaan Webb 18th October 2021 Precious metals miner Polymetal has produced first gold and silver concentrate at its new Nezhda mine, located in Yakutia, Russia, with nameplate capacity and full design recovery expected by April. The two-million-tonne-a-year openpit mine and combined gravity/flotation concentrator were built... →

AngloGold’s stake in Pure Gold rises to nearly 15%

By: Creamer Media Reporter 18th October 2021 South Africa-base major AngloGold Ashanti’s ownership percentage in Canadian bullion miner Pure Gold Mining has increased to 14.96% of the issued and outstanding common shares, following the closing of a nonbrokered private placement. The company, which advances the PureGold mining project in... →

Manchin's opposition may doom clean-power plan Biden backs

By: Bloomberg 18th October 2021 Senator Joe Manchin has told the White House and congressional leaders that he will not support including a key clean-power provision in the Democrats’ spending package, putting at risk a central element of the legislation designed to fight climate change, according to a person familiar with the... →

Two SSR Mining directors resign

By: Creamer Media Reporter 18th October 2021 Intermediate gold company SSR Mining has reported the resignation of two board directors. Beverlee Park and Elizabeth Wademan, both directors of SSR prior to the merger with Alacer Gold, have handed in their resignations. SSR chairperson Mike Anglin thanked Park and Wademan for their years of... →

Montem hopes to be Canada's first green hydrogen producer

By: Esmarie Iannucci 18th October 2021 ASX-listed Montem Resources has unveiled plans to transition its Tent Mountain metallurgical coal project, in Alberta, to become a renewable energy complex. Montem is proposing to build an integrated wind and hydropower complex to produce green hydrogen at Tent Mountain, with the renewable... →

Eldorado announces new credit facility

By: Creamer Media Reporter 18th October 2021 Gold and base metals producer Eldorado Gold and its syndicate of lenders have executed an amended and restated senior credit facility, providing it with greater financial flexibility as it pursues funding alternatives for the development of its Kassandra assets in Greece. The new agreement... →

Nickel Mines inks limonite offtake

By: Esmarie Iannucci 18th October 2021 ASX-listed Nickel Mines has inked a limonite supply agreement with PT Huayue Nickel Cobalt (HNC). The limonite ore will be supplied to the HNC high pressure acid leach (HPAL) project, which is about to start commissioning within the Indonesia Morowali Industrial Park. →

Gascoyne sticks to its guns

By: Esmarie Iannucci 18th October 2021 Gold miner Gascoyne Resources has continued to urge shareholders to reject a takeover offer from fellow-listed Westgold Resources, as the suitor continued to make its case. Westgold has lodged its bidder’s statement for Gascoyne under which it is offering one of its own shares for every four... →

Using the world’s first green steel to make a dump truck

By: Bloomberg 18th October 2021 The world’s steelmakers need a makeover. Their industry is one of the dirtiest, and it’s blamed for about 7% of global carbon emissions. The biggest producers essentially rely on the same manufacturing processes they used a century ago, and now they face a reckoning. With the planet’s viability... →

Vulcan signs another lithium deal

By: Esmarie Iannucci 18th October 2021 ASX-listed Vulcan Energy has inked a binding lithium hydroxide offtake agreement with cathode materials producer Umicore at its Zero Carbon lithium project, in Germany. The agreement spans an initial five-year term, starting with commercial delivery in 2025. Umicore will purchase a minimum of 28... →

Juukan Gorge commitee recommends legislative changes

By: Esmarie Iannucci 18th October 2021 A final report by the Australian Parliament’s Northern Australia Committee has highlighted the need need for legislative change at Commonwealth, State and Territory levels to ensure the protection of Aboriginal and Torres Strait Islander heritage. In its final report of its inquiry into the... →

Sayona settles Moblan buy

By: Esmarie Iannucci 18th October 2021 Lithium developer Sayona Mining has completed the $86.5-million acquisition of a 60% stake in the Moblan lithium project, in Northern Québec. The ASX-listed company is now planning an additional drilling program at Moblan next year aiming to expand its lithium resource, and will undertake a... →

Ramelius makes a golden offer for Apollo

By: Esmarie Iannucci 18th October 2021 Gold miner Ramelius Resources has made a takeover offer for fellow-listed Apollo Consolidated, through a recommended off-market takeover offer. Ramelius is offering Apollo shareholders 34c a share in cash along with 0.1375 Ramelius shares for each Apollo share held, valuing Apollo’s shares at... →

Court upholds Narrabri approval

By: Esmarie Iannucci 18th October 2021 The New South Wales Land and Environment Court has upheld the New South Wale’s Independent Planning Commission’s approval of the Narrabri gas project. Oil and gas major Santos has welcomed the dismissal of the appeal against the Narrabri project, saying on Monday that the company was now looking... →

Image shows two workers at a Santos plant

Senex in talks with POSCO over possible deal

By: Esmarie Iannucci 18th October 2021 ASX-listed Senex Energy on Monday flagged change of control discussions with POSCO International Corporation. The company told shareholders that POSCO International in early September submitted a revised non-binding and indicative proposal to acquire 100% of Senex for a cash offer price of... →

Creecy says a climate finance breakthrough is key to COP26 success

By: Terence Creamer 15th October 2021 South Africa’s Forestry, Fisheries and the Environment Minister Barbara Creecy says a breakthrough is needed at COP26 on the issue of climate finance, warning that the failure of developed countries to honour their $100-billion-a-year commitments has led a breakdown of trust. Addressing a virtual... →

South Africa’s Forestry, Fisheries and the Environment Minister Barbara Creecy

Vedanta partners with Pink Drive on cancer screening for near-mine communities

By: Donna Slater 15th October 2021 Zinc producer Vedanta Zinc International, supported by the Pink Drive outreach programme, hosted its sixth yearly five-day cancer screening drive across the Namakwa district in the Northern Cape recently. The Pink Drive mobile clinics are known for providing free breast health assessments across... →

more

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Newsletters

Sign up for our FREE daily email newsletter

Receive daily sector news alerts

More

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options