R/€ = 17.85 Change: 0.01
R/$ = 15.80 Change: 0.04
Au 1792.16 $/oz Change: 10.73
Pt 959.50 $/oz Change: 3.00

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Specify energy transition action now, the money’s there for it, UN climate envoy urges  

By: Martin Creamer     7th December 2021 The energy transition is woefully under specified, the United Nations special envoy on climate change action and finance Mark Carney told a global webinar, in which he described the specifying of energy transition action as being “a matter of urgency”. Such specification, the webinar heard,... 

UN Climate Action Finance Envoy Mark Carney covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Reserve growth supports roadmap to 500 000 oz/y production at Centamin’s Sukari

By: Simone Liedtke     Updated 2 hours 59 minutes ago The transformed approach to the management of gold miner Centamin has delivered a net 1.1-million-ounce mineral reserve growth at its Sukari gold mine, in Egypt, representing the largest reserve increase in ten years. The delivered mineral reserve growth represents a 23% increase in Sukari’s... 

Implats acquires more shares in RBPlat

By: Simone Liedtke     Updated 4 hours ago Impala Platinum (Implats) has acquired a further 942 000 RBPlat shares, constituting about 0.33% of RBPlat’s shares in issue. Implats now holds about 32.26% of the RBPlat shares in issue. 

WoodMac predicts lithium-ion battery recycling to lag

By: Esmarie Iannucci     Updated 3 hours ago Data from advisory firm Wood Mackenzie (WoodMac) has predicted that lithium-ion battery recycling was not expected to take off before 2030. WoodMac is predicting that electric vehicle (EV) penetration would reach 23% by 2030, and that by 2040, 89% of lithium-ion battery demand will come from... 

Sibanye ranks fourth in Biodiversity Disclosure Project

By: Simone Liedtke     Updated 3 hours ago Precious and battery metals group Sibanye-Stillwater has ranked fourth out of 327 JSE-listed companies and 27 State-owned enterprises (SOEs) in the third yearly National Biodiversity and Business Network (NBBN) of South Africa Biodiversity Disclosure Project. Sibanye’s 2020 score improved by 15%... 

Sibanye concludes buyout of 19.99% stake in New Century

By: Simone Liedtke     Updated 3 hours ago Precious and battery metals group Sibanye-Stillwater has completed the acquisition of a 19.99% equity interest in ASX-listed New Century Resources, which it acquired for A$61-million. This follows the overwhelming approval of the transaction by the majority of New Century shareholders at its... 

Barrick subsidiary acquires six prospecting licences in Tanzania

By: Marleny Arnoldi     Updated 3 hours ago Gold miner Barrick Gold’s Bulyanhulu Gold Mine has entered into an agreement to acquire six prospecting licences, in Tanzania, for $6-million. It will acquire the six prospecting licences, which are adjacent to the Bulyanhulu mine, from the Mineral Industry Promotion and Consulting Company – a... 

Wescoal expects 485% rise in interim HEPS

By: Marleny Arnoldi     Updated 1 hour 31 minutes ago JSE-listed Wescoal expects its headline earnings per share (HEPS) for the six months ended September 30, to be between 19.3c and 21.5c. This is at least a 485% increase on the HEPS of 3.3c apiece posted for the six months ended September 30, 2020.  

Kropz makes fourth drawdown request from ARC Fund

By: Simone Liedtke     Updated 1 hour 3 minutes ago Emerging African phosphate explorer and developer Kropz has made its fourth drawdown request under the $5-million equity facility from the African Rainbow Capital (ARC) Fund, the company’s major shareholder. The fourth drawdown request of $400 000 under the new equity facility will be settled by... 

NUM concerned about ‘deepening crisis’ in South Africa 

By: Simone Liedtke     7th December 2021 The National Union of Mineworkers (NUM) has expressed concern about the “deepening crisis” in South Africa, saying it feels that the “gains of the 1994 democratic breakthrough are fast withering away under the weight of deepening inequality and mass unemployment”. During its extended national... 

De Beers to explore for diamonds in north-eastern Angola

By: Creamer Media Reporter      7th December 2021 Diamond miner De Beers Group has applied to conduct exploration activities in north-eastern Angola following substantive and consistent reforms implemented by the country's government that enable the country’s diamond endowment to underpin transformative socioeconomic growth for local... 

De Beers CEO Bruce Cleaver
De Beers CEO Bruce Cleaver

Canyon makes headway in Cameroon

By: Esmarie Iannucci     Updated 4 hours ago Bauxite developer Canyon Resources has negotiated the key terms for the Minim Martap mining convention, with the government of Cameroon, while also delaying the release of its bankable feasibility study (BFS) for the project until January. Canyon Resources on Wednesday told shareholders that the... 

Woodside sets $5bn budget for new energy projects

By: Esmarie Iannucci     Updated 6 hours ago Oil and gas major Woodside on Wednesday announced that it would invest some $5-billion in emerging new energy markets by 2030. Speaking to investors, CEO Meg O’Neill said liquefied natural gas (LNG) will remain an important part of the energy mix in the region for decades to come, both as a... 

Image shows the parts of the Pluto LNG plant

Sigma starts building Brazil lithium plant, may double capacity

By: Mariaan Webb     Updated 2 hours 58 minutes ago Canada-headquartered Sigma Lithium has kicked off construction of the production plant at Grota do Cirilo, which is said to be the largest hard rock lithium spodumene deposit in the Americas. The company started building the foundation and infrastructure installation of its greentech dense media... 

Talks stall to unblock copper corridor used by MMG's Las Bambas mine in Peru

By: Reuters     Updated 3 hours ago Peruvian government officials failed to broker a deal on Tuesday to unblock a key distribution corridor used by MMG Ltd's Las Bambas copper mine, according to minutes of the meeting seen by Reuters. The dirt road from the Chinese-owned mine to a sea port has been blocked for 18 days by... 

Lithium extraction company Vulcan adds VW to customer line-up

By: Reuters     Updated 3 hours ago Lithium developer Vulcan Energy Resources has secured Volkswagen as an additional car industry customer for its environmental-friendly lithium hydroxide for automotive batteries. The binding purchase agreement with Volkswagen for lithium extracted from Germany's Upper Rhine Valley region by... 

Nickel Mines spends big on Oracle buy

By: Esmarie Iannucci     Updated 3 hours ago ASX-listed Nickel Mines has inked a definitive agreement with partner Shanghai Decent Investment to acquire a 70% equity interest in the Oracle nickel project, in Indonesia. The agreement over the Oracle project followed a November memorandum of understanding (MoU). 

Ascot delays first production as components are lost at sea in major storm

By: Mariaan Webb     Updated 4 hours ago The target date for initial gold production from the past-producing Premier Gold Project (PGP), in British Columbia, has shifted by one quarter to account for the replacement and shipping of certain components and abnormally high snowfall levels, developer Ascot Resources said on Tuesday. The... 

An image of the Premier gold mine site area
The Premier gold mine site area in British Columbia

Silver Lake makes a play for Canada's Harte Gold

By: Esmarie Iannucci     Updated 4 hours ago ASX-listed Silver Lake Resources is hoping to acquire struggling TSX-listed gold miner Harte Gold through a subscription agreement, while also providing the takeover target with a C$10.8-million loan. Silver Lake in November acquired credit facilities provided by BNP Paribas to Harte Gold,... 

An image of the Sugar Zone mine site
Sugar Zone in Ontario

Top US shale producer worries oil prices could run too hot

By: Reuters     Updated 5 hours ago Scott Sheffield, the chief executive of top US shale producer Pioneer Natural Resources, on Tuesday said he worries oil prices could get too high and further roil markets after years underinvestment in the sector. “I’m worried that it may get too high, above $100 (per barrel)," Sheffield said in... 

Citronen a step closer to financing

By: Esmarie Iannucci     Updated 6 hours ago ASX-listed Ironbark Zinc has received preliminary approval for up to $657-million in funding from financier US EXIM Bank for the development of its Citronen project, in Greenland. The preliminary approval follows an initial due diligence period. 

Muga economics firm up

By: Esmarie Iannucci     Updated 6 hours ago An updated feasibility study into the Muga-Vipasca potash project, in Spain, has confirmed the project’s economics. Capital costs for the Phase 1 and Phase 2 operation have increased from the €576-million considered in the 2019 studies, to €607-million. 

Santos/Oil Search deal clears another hurdle

By: Esmarie Iannucci     Updated 6 hours ago The Independent Consumer and Competition Commission (ICCC) of Papua New Guinea (PNG) has approved the merger between oil produces Santos and Oil Search. The ICCC approval follows a day after Oil Search shareholders approved the merger with ASX-listed Santos, which will create a A$21-billion oil... 

Natural gas essential for net zero - report

By: Esmarie Iannucci     Updated 6 hours ago A report commissioned by the Australian Gas Industry Trust (AGIT) has confirmed that natural gas would have a significant role to play in a cleaner energy economy as Australia moved towards a net-zero future. The report, undertaken by Frontier Economics, reinforced the value of flexible and... 

FFI and AGL move into the Hunter Valley

By: Esmarie Iannucci     Updated 6 hours ago Green energy developer Fortescue Future Industries (FFI) and energy provider AGL Energy will undertake a feasibility study to repurpose infrastructure at the Hunter Valley’s Liddell and Bayswater coal-fired power stations to generate green hydrogen from water, using renewable energy. The Liddell... 

Galileo signs option agreement to earn 51% interest in Zambia copper/gold project

By: Creamer Media Reporter      7th December 2021 Aim-listed Galileo Resources has entered into an option and joint venture (JV) agreement with Garbo Resource Solutions to earn an initial 50% interest in the Shinganda copper/gold project, in Zambia. Galileo has committed to spending $500 000 on exploration and evaluation at Shinganda over a... 

Shanta lowers New Luika full-year output guidance

By: Creamer Media Reporter      7th December 2021 Aim-listed Shanta Gold has lowered its full-year production guidance for the New Luika gold mine, in Tanzania, to between 55 000 oz and 57 000 oz of gold. This compares with the previously guided 60 000 oz to 65 000 oz of gold. Shanta attributes the lower guidance to operational difficulties as... 

Gemfields' latest emerald auctions generate a record $37.9m in revenue

By: Creamer Media Reporter      7th December 2021 A series of five emerald mini-auctions in November and December has generated a record $37.9-million in revenue for gemstone miner Gemfields. All carats on offer were sold and the emeralds were sold for an average of $150.65/ct. 

Chile copper exports soar to $4.9bn in November on high global prices

By: Reuters     7th December 2021 Chile, the world's top copper producer, saw exports of the red metal soar over 35% to $4.92-billion in November, the Andean country's central bank said on Tuesday, bolstered by strong global prices of the metal. That helped the country post a trade surplus of $834-million in the month, despite... 

Pasofino raises $5.5m for Dugbe study

By: Simone Liedtke     7th December 2021 Canadian mineral explorer Pasofino Gold has entered into a nonbrokered private share placement to raise $5.5-million, of which about $4.5-million has been subscribed for by Turkish miner Esan. The funding provides sufficient capital for Pasofino to complete the definitive feasibility study on... 

Solaris to spin out noncore assets

7th December 2021 Vancouver-headquartered Solaris Resources will transfer its noncore assets in Ecuador, Peru, Chile and Mexico into a newly incorporated subsidiary, named Solaris Exploration, leaving the parent company to focus on advancing the Warintza project, in Ecuador. Solaris Exploration will not be listed... 

Mountain Province reports strong demand for its diamonds

By: Creamer Media Reporter      7th December 2021 Canadian diamond miner Mountain Province has achieved sterling results in its December sale, reinforcing its confidence in a robust diamond market heading into 2022, president and CEO Mark Wall reported on Monday. During the most recent December sale, 388 573 ct were sold for total proceeds of... 

Newmont to sell first sustainability-linked bonds from a miner

By: Bloomberg     7th December 2021 Newmont, one of the world’s largest gold miners, is selling $1-billion of bonds giving it a financial incentive to cut emissions and improve corporate governance, the first company in the energy-intensive industry to issue such securities. The company’s 10-year bonds will pay investors a higher... 

Newmont to sell first sustainability-linked bonds from a miner

Copper Mountain shipments unaffected by heavy rains

By: Mariaan Webb     7th December 2021 Base metals miner Copper Mountain said on Monday that there had been no material impacts so far to its operations, production or concentrate shipments as a result of heavy rain, flooding and mudslides in British Columbia. The mine continued to truck its concentrate to the port of Vancouver and,... 

Yamana receives expansion permit for Jacobina

By: Mariaan Webb     7th December 2021 Canadian gold miner Yamana Gold has received the permit at its Jacobina mine, in Brazil, to expand throughput to 10 000 t/d, marking not only a significant milestone in the Phase 2 ramp up to 230 000 oz/y, but also facilitates the future Phase 3 expansion to bring production up to 270 000 oz/y.... 

An image of a gold bar

Vedanta to support Zambia on green energy transition goals

By: Simone Liedtke     7th December 2021 Natural resources company Vedanta intends to support the Zambian government in its green energy transition goals, it confirmed on December 7. This decision was bolstered by the steps already taken by the government, including the appointment of the country's first Green Economy and Environment... 

Offshore wind could power Alcoa's Portland smelter in Australia

By: Reuters     7th December 2021 Australia's Alinta Energy said on Tuesday it is considering building a A$4-billion ($2.8-billion) offshore wind farm to supply Alcoa Inc's Portland aluminium smelter and the country's east coast grid. The project is at a very early stage, with Alinta studying a 500 km2 area offshore where it... 

Falcon IPO raises A$30m

By: Esmarie Iannucci     7th December 2021 ASX-listed Chalice Mining on Tuesday said that the initial public offer (IPO) of its spin-off Falcon Metals, had raised A$30-million. Chalice earlier this year flagged the demerger of its Australian gold assets into a stand-alone, listed Australian gold-focused exploration company, following a... 

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