R/€ = 17.48 Change: -0.19
R/$ = 14.85 Change: -0.16
Au 1802.28 $/oz Change: 2.91
Pt 1064.50 $/oz Change: -17.00

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Metals make climate change mitigation possible – Citi Research 

By: Martin Creamer     23rd July 2021 In a rapid electrification scenario, metals have the ability to bring about the reduction of close to 1 000 gigatonnes (Gt) of global greenhouse gas (GHG) emissions by 2050, Citi Research states in a note that examines the metals industry’s potential contribution to climate change mitigation over... 

A graphic compiled the Citi Research on the fast and moderate way of meeting the Paris climate change accord.
Complying with the Paris agreement on climate change mitigation.

Report calls for freeze on new coal, warns of risks if energy transition is delayed 

By: Terence Creamer     23rd July 2021 South Africa should freeze investment in new private coal plants, as delaying South Africa’s “inevitable” transition away from the carbon-emitting energy mineral will cause economic damage, a new Trade & Industrial Policy Strategies (TIPS) analysis on the country’s coal value chain states.... 

An image of a coal mining vehilce with a power station in the background.

South32 secures power for Hillside, weighs green options

By: Esmarie Iannucci     23rd July 2021 Diversified miner South32 has finalised an energy supply agreement for its Hillside aluminium smelter, in South Africa. The miner on Friday said that the National Energy Regulator of South Africa had approved the long-term energy supply agreement between Hillside and national energy provider... 

An aerial view of South32's Hillside aluminium operation in South Africa

Platinum giants eye solar power as green answer to blackouts

By: Bloomberg     23rd July 2021 The world’s biggest platinum miners are ramping up plans to build renewable energy plants to free them from power outages that have plagued South Africa for more than a decade and to reduce their carbon footprint. Sibanye-Stillwater, the No. 1 platinum miner, Impala Platinum Holdings and Anglo... 

Commission conditionally approves Bright Minerals, Mogale merger

By: Simone Liedtke     23rd July 2021 The South African Competition Commission has conditionally approved the proposed merger whereby miner Bright Minerals intends to acquire ferrochrome producer Mogale. Mogale was previously owned by Nasdaq- and London-listed specialist alloy producer Afarak Group, which placed its South African... 

Commodities boom presents opportunities for investors

By: Tasneem Bulbulia     23rd July 2021 The mining sector has emerged as a bright spot in the South African economy and investors are benefitting from this.   Specialist index fund manager 1nvest executive Johann Erasmus tells Mining Weekly that the recent commodities boom is attributable to a combination of delays in the global supply... 

Tirupati advances development of graphene R&D centre

By: Simone Liedtke     23rd July 2021 Specialist graphite producer Tirupati Graphite has commissioned Stage 1 of its Tirupati Graphene and Mintech Research Centre (TGMRC), in India, which is focused on graphene manufacturing and applications development, advanced materials development and mineral processing technology development.... 

Thermal coal prices to weaken by the end of this year, says Fitch Solutions

By: Simone Liedtke     23rd July 2021 Fitch Solutions Country Risk and Industry expects thermal coal prices to peak during the third quarter of this year and then weaken “substantially” by the end of the year. In spite of this forecast, the research firm increased its average price forecast for the year to $85/t, up from $72/t... 

Cora Gold targeting resource growth with southern Mali drill programme

By: Simone Liedtke     23rd July 2021 West African-focused gold explorer Cora Gold is targeting resource growth at its Sanankoro gold project, in southern Mali, and has received the eighth set of drill results from the drill campaign at the project. The results, to date, have been “extremely encouraging”, with good widths and... 

Akobo confident of small-scale mining potential with Segele exploration

By: Donna Slater     23rd July 2021 Ethiopia-based gold explorer Akobo Minerals reports that it has found a continuation of a high-grade gold zone at depth, beneath the Segele mineral resource, with new assays demonstrating that the high-grade mineralisation extends to at least 145 m and quite possibly deeper. The resource... 

Berkeley takes first steps to overturn unfavourable Salamanca decision

By: Creamer Media Reporter      23rd July 2021 Uranium developer Berkeley Energia has taken the first steps to overturn the unfavourable decision by the Nuclear Safety Council (NSC) for its Salamanca project in Spain. The NSC earlier this month blocked the London-headquartered company’s planned uranium in the west of Spain on safety... 

BHP signs conditional port agreement for Canada potash mine

By: Mariaan Webb     23rd July 2021 Global mining major BHP has signed an agreement with Vancouver-based Westshore Terminals to handle potash for its Jansen mine, in Saskatchewan, Canada. This is according to the terminal operator, which said on Thursday that the agreement was subject to approval by the BHP board and conditional... 

An image showing the Westshore terminal infrastructure at night.

Brazil prosecutors target final Samarco dam settlement this year

By: Bloomberg     23rd July 2021 A final settlement between Brazilian authorities and the Samarco iron-ore venture can be reached this year, bringing legal certainty to owners Vale and BHP six years after a devastating tailings dam collapse. That’s according to federal prosecutor Carlos Bruno Ferreira da Silva, who said in an... 

Hudson says Greenland projects unaffected by legislative changes

By: Creamer Media Reporter      23rd July 2021 Proposed legislation changes to ban uranium prospecting, exploration and exploitation in Greenland will not affect Hudson Resources’ projects in that country, president Jim Cambon said on Thursday. The ban does not cover other radioactive elements, such as thorium, although the proposed Bill... 

Newmont to make decision on new Peru investment by December

By: Mariaan Webb     23rd July 2021 US-based gold major Newmont will decide on a $2-billion investment at its Yanacocha mine, in Peru, by December and CEO Tom Palmer says the company is ready to engage with the incoming government of Pedro Castillo over the next six months. In a conference call with analysts on Thursday, Palmer... 

A panoramic view of Yanacocha Latin American's biggest gold mine in the Andean city of Cajamarca, north of Lima.
Panoramic view of Yanacocha Latin American's biggest gold mine in the Andean city of Cajamarca, north of Lima.

Orion Minerals, SAIMM, Anglo American make headlines   

23rd July 2021 Mining Weekly Editor Martin Creamer unpacks the news that over 14 000 South Africans own shares in Orion minerals, which is good support for local minerals exploration; a mine has achieved a massive earnings boost following the employment of four more people and guided by a value driver tree... 

Orion Minerals, SAIMM, Anglo American make headlines

South America politics are bullish for copper, Freeport says

By: Bloomberg     23rd July 2021 Policy uncertainty in Peru and Chile, which account for about 40% of global copper production, is supportive of future prices of the metal as producers balk on pulling the trigger on investments, according to Freeport-McMoRan. Speaking to analysts Thursday, CEO Richard Adkerson said the shifting... 

An image of Freeport-McMoRan CEO Richard Adkerson
Freeport-McMoRan CEO Richard Adkerson

Tomingley beats full year guidance

By: Esmarie Iannucci     23rd July 2021 ASX-listed Alkane Resources has exceeded its production guidance for the full year ended June, despite gold production in the fourth quarter declining slightly. Alkane this week reported that gold production at its Tomingley mine, reached 13 500 oz during the June quarter, compared with the 16... 

Solid end to Gascoyne year

By: Esmarie Iannucci     23rd July 2021 Gold miner Gascoyne Resources has reported a slight decline in gold production during the June quarter at its Dalgaranga operation, in Western Australia, compared with the March quarter. The ASX-listed miner on Friday reported that gold production for the three months to June had reached 17 416... 

Poseidon on the hunt for tailings partner

By: Esmarie Iannucci     23rd July 2021 A definitive feasibility study (DFS) into the Windarra gold tailings operation, in Western Australia, has confirmed that the project could produce between 53 500 oz and 55 200 oz of gold, subject to the mining method, over a 45-month period. ASX-listed Poseidon Nickel on Friday reported that the... 

Western Areas finishes strong

By: Esmarie Iannucci     23rd July 2021 Nickel miner Western Areas has reported a strong June quarter, with production and sales volumes increasing. Total nickel mined during the three months to June rose to 4 911 t, up from the 4 236 t produced in the March quarter, while total nickel in concentrate increased from 4 267 t to 4 622 t... 

Evolution completes A$400m raise

By: Esmarie Iannucci     23rd July 2021 Gold miner Evolution Mining has completed a A$400-million institutional placement to fund the acquisition of fellow listed Northern Star’s Kundana gold assets, in Western Australia. The two companies this week unveiled the agreement which would see Evolution acquire a 51%interest in the East... 

Image shows Australian currency

Rio approves $108m study at Kennecott

By: Esmarie Iannucci     23rd July 2021 Diversified major Rio Tinto has approved a $108-million investment in underground development at its Kennecott copper operations, in the US, to enable early orebody access and undertake orebody characterisation studies for underground mining. The investment builds on $25-million approved in... 

Magazine round up | 23 July 2021 

23rd July 2021 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.  

Magazine round up | 23 July 2021

Extremely strong demand for platinum bar and coin – WPIC  

By: Martin Creamer     22nd July 2021 Extremely strong demand for platinum bar and coin is being seen around the world, particularly in the US, along with growth in demand for platinum exchange traded funds (ETFs), mainly out of North America and Europe,  World Platinum Investment Council (WPIC) head of research Trevor Raymond said... 

WPIC Research Head Trevor Raymond interviewed by Mining Weekly's Martin Creamer.

Iamgold cuts guidance, says new Canada mine to cost more

By: Mariaan Webb     22nd July 2021 Canadian miner Iamgold on Thursday lowered its full-year production guidance and increased the cost estimate for the new Côté gold mine that it is building in a joint venture with Sumitomo Metal Mining, in Canada, sending its stock down 13% in early morning trade on the TSX. The company stated... 

An image showing a mining camp in Ontario, Canada.

Freeport-McMoRan profit beats estimates on higher copper prices

By: Reuters     22nd July 2021 Freeport-McMoRan beat Wall Street expectations for second-quarter earnings on Thursday, as the miner benefited from higher demand and increased prices for copper. Copper prices touched an all-time record high of $10 747.50/t in May. Bullish investors bet that demand for the red metal will... 

Sibanye, RBPlat make progress with employee vaccinations 

By: Simone Liedtke     22nd July 2021 Dual-listed Sibanye-Stillwater has, despite recent disruptions in parts of South Africa, made significant progress with the roll-out of its Covid-19 vaccination programme. In accordance with the South African Department of Health (DoH) guidelines and protocols, the group has vaccinated over 10... 

Pic/Image of someone being vaccinated for Covid-19.

RBPlat expects up to 450% increase in interim earnings

By: Marleny Arnoldi     22nd July 2021 JSE-listed Royal Bafokeng Platinum (RBPlat) expects to report basic earnings per share (EPS) of between R18 and R18.60 for the six months ended June 30. That represents a 433% to 450% year-on-year improvement on the basic EPS of R3.38 reported in the prior year’s interim period.  

Newmont reports solid second-quarter results

By: Mariaan Webb     22nd July 2021 Bullion major Newmont has posted adjusted net income of $670-million in the second quarter of the year – an increase on the preceding quarter and prior-year period. The June quarter results compare with adjusted net income of $594-million in the first quarter of 2021 and $261-million in the... 

An image showing Newmont CEO Tom Palmer smiling.
Newmont CEO Tom Palmer

Deep-South takes Namibian Mines Ministry to court over licence denial

By: Marleny Arnoldi     22nd July 2021 TSX-V-listed Deep-South Resources has filed an application on behalf of its subsidiary Haib Minerals with the High Court of Namibia for an order reviewing the decision of the Minister of Mines and Energy. This follows the Minister’s refusal to renew Haib’s licence EPL 3140, covering the Haib... 

Centamin on track to meet full-year guidance, posts solid second-quarter output 

By: Simone Liedtke     22nd July 2021 Gold producer Centamin is set to maintain its full-year gold production and cost guidance of between 400 000 oz and 430 000 oz at cash costs of between $800/oz and $900/oz on the back of another solid operational performance for the second quarter ended June 30. All-in sustaining cost (AISC) for... 

Altus granted new silver, copper projects in Morocco

By: Tasneem Bulbulia     22nd July 2021 Mining royalty company Altus Strategies has been granted four new exploration projects, as well as an extension to the Agdz project, totalling 148.5 km2 in Morocco. The projects were awarded to the company's 100% owned subsidiary Aterian Resources as part of a competitive tender process. 

First concentrate produced at Khoemacau’s copper/silver project

By: Tasneem Bulbulia     22nd July 2021 NYSE-listed Fluor reports that Khoemacau Copper Mining recently achieved first copper and silver concentrate production at its starter project, near Toteng, in Botswana. The project is in the Kalahari Copper Belt and is expected to produce about 62 000 t/y of payable copper and 1.9-million ounces... 

An image of the Boseto Processing Facility
Boseto Processing Facility

Sasol joins the Hydrogen Council

By: Yvonne Silaule     22nd July 2021 Chemicals and energy company Sasol has joined the Hydrogen Council, with the aim to help secure the future of hydrogen in South Africa The Hydrogen Council is a global CEO-led initiative consisting of more than 120 companies from across the hydrogen value chain, with a united vision and long-term... 

AfriTin records first notable revenues 

By: Donna Slater     22nd July 2021 Aim-listed African tin mining company AfriTin Mining ended its financial year on February 28 with its first material revenue of £5-million, up from the £69 000 reported for the previous financial year. “The announcement of the first notable revenues is a monumental first step and a precursor of... 

Japan shifting away from fossil fuels

By: Esmarie Iannucci     22nd July 2021 Australia’s supply of liquefied natural gas (LNG) and coal into Japan could face pressure as the Asian major introduced a draft Strategic Energy Plan, which sees non-fossil fuel power supply sources growing from 24% in 2019-20, to roughly 60% by 2030-31. Analyst S&P Global noted that the draft... 

Record US coal shipments to China highlights Australia's pain

By: Bloomberg     22nd July 2021 China’s import ban on Australian coal is proving a boon to U.S. producers. On June 28, the Frontier Unity bulk vessel left the port of Newport News, Virginia with a 136 400-t cargo bound for steelmakers in China. It was the biggest shipment of its kind from a US east coast port, according to... 

An image of a coal stacker against the setting sun at the Newcastle port, in Australia.

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Magazine round up | 23 July 2021

Extremely strong demand for platinum bar and coin – WPIC

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Exploration trailblazer Orion cracks retail investor code with 14 000-plus SA backers

Mine achieves massive earnings boost after employing four more people

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