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Fitch raises metals, mining price assumptions in line with returning demand, low inventories 

By: Donna Slater     26th February 2021 Ratings agency Fitch Ratings has revised some of its metals and mining price assumptions in line with that it sees as commodity prices being set to benefit in the short term from returning demand, as well as slow supply response and low inventories. The agency’s revision of all iron-ore price... 

Fitch raises metals, mining price assumptions in line with returning demand, low inventories

Planning commission wants new climate-change commission to drive ‘just transition’ social compact 

By: Terence Creamer     26th February 2021 The outgoing National Planning Commission (NPC) is preparing to hand over the extensive work it has done to build consensus on South Africa’s ‘just transition’ to a low-carbon and climate-resilient society to the newly formed Presidential Coordinating Commission on Climate Change (PCCCC). When... 

Planning commission wants new climate-change commission to drive ‘just transition’ social compact

Botswana's Debswana expects to increase diamond output by 38% in 2021 

By: Reuters     26th February 2021 Diamond producer Debswana aims to increase output by 38% this year to pre-pandemic levels of 23-million carats, a company official said on Friday, as the global diamond market recovers with the easing of travel restrictions and jewellers reopen. Jointly owned by Anglo American unit De Beers and... 

Kropz inks equity facility with ARC Fund to capitalise ongoing Hinda work

By: Donna Slater     26th February 2021 Aim-listed emerging African phosphate explorer and developer Kropz has entered into a $5-million conditional convertible equity facility with major shareholder ARC Fund to finance the ongoing work at Kropz’s Hinda phosphate project in Congo-Brazzaville. The new facility is in addition to the... 

Danakali does away with CEO role, reappoints Cornelius as chair

By: Marleny Arnoldi     26th February 2021 LSE- and ASX-listed Danakali has reappointed nonexecutive chairperson Seamus Cornelius as executive chairperson. He will also assume Niels Wage’s responsibilities as CEO.  

Deep-South appoints consultancy to update Haib resource estimate

By: Donna Slater     26th February 2021 TSX-V-listed explorer and developer Deep-South Resources has appointed mining consultancy company the MSA Group of South Africa to produce an updated National Instrument (NI) 43-101 resource estimate for its 100%-owned advanced Haib copper project, in the south of Namibia. The report will follow... 

Merafe to report narrowed loss for 2020

By: Marleny Arnoldi     26th February 2021 JSE-listed ferrochrome producer Merafe Resources expects to report a basic loss a share of between 34.6c and 45.4c apiece for the year ended December 31, 2020. This compares with a basic loss a share of 54.2c apiece reported for the prior year. 

Endeavour hikes 2021 guidance, proceeds with Phase 1 expansion in Senegal

By: Mariaan Webb     26th February 2021 Toronto-listed Endeavour Mining has increased its guidance for 2021 to include production from the recently integrated Sabodala-Massawa and Wahgnion mines, following completion of the Teranga Gold acquisition. The consolidated 2021 production guidance for continuing operations has increased from... 

Endeavour hikes 2021 guidance, proceeds with Phase 1 expansion in Senegal

Lucapa recovers another 100ct diamond

By: Esmarie Iannucci     26th February 2021 ASX-listed diamond miner Lucapa Diamond Company has recovered a its nineteenth diamond of more than 100 ct at its Lulo alluvial mine, in Angola. The miner on Friday announced the recovery of a 114 ct Type IIa D-colour white diamond from Mining Block 46, marking the third stone of over 100 ct to... 

Keras commits continual funds for community development

By: Marleny Arnoldi     26th February 2021 As part of its environment, social and governance (ESG) initiatives, Aim-listed Keras Resources has announced it will contribute 0.75% of manganese sales revenue from the Nayéga mine, in Togo, once it is developed, to be used for community projects in the vicinity. The contribution will be made... 

Keras commits continual funds for community development

Sibanye-Stillwater provides full bursaries to 12 top matriculants

By: Schalk Burger     26th February 2021 Twelve top-performing matriculants from disadvantaged schools around precious metals miner Sibanye-Stillwater's South African operations will be awarded full bursaries to pursue tertiary studies at local universities. “We are extremely pleased to be able to provide these top learners, who have... 

Calibre gets a new CEO

By: Creamer Media Reporter      26th February 2021 Vancouver-headquartered gold miner Calibre Mining on Friday announced that Russell Ball was stepping down as CEO and director, citing personal reasons for his immediate departure from the company. Senior VP and COO Darren Hall has been appointed president, CEO and director. 

Calibre gets a new CEO
Darren Hall has been promoted to CEO of Calibre Mining

Indonesia says 'ready to fight' EU at WTO over nickel export curbs

By: Reuters     26th February 2021 Indonesia is "ready to fight" the European Union's challenge of the Southeast Asian country's ban on nickel ore exports at the World Trade Organisation, arguing the bloc's actions may hinder Indonesia's development plans, the Trade Minister said. Once the world's biggest exporter of nickel,... 

Day succeeds Gray at Scotgold

By: Mariaan Webb     26th February 2021 Scottish gold miner Scotgold CEO Richard Gray will retire as CEO of the company at the end of March and will hand over reins to investment company Pala Investments’ head of technical operations Philip Day. Gray, who oversaw the transition of Scotgold into a gold miner and producer, will become... 

Day succeeds Gray at Scotgold
The Cononish mine

Australian state approved all plans that would damage Aboriginal sites in past year

By: Reuters     26th February 2021 Australia's New South Wales (NSW) state has approved all of the planning applications that would cause damage to Aboriginal heritage sites it has received in the past year, according to a state budget hearing this week. The state is the second one to reveal that its heritage protection body has... 

Lynas profits soar

By: Esmarie Iannucci     26th February 2021 Rare earths miner Lynas has reported a significant increase in its net profits and revenues for the half year ended December, with record sales achieved in the December quarter. The ASX-listed miner on Friday reported that net profits for the interim period increased to A$40.6-million, up from... 

Implats, 4IR and Target North make headlines   

26th February 2021 Mining Weekly Editor Martin Creamer unpacks Implats' R10-billion worth of new platinum projects, the feasibility study on a mine selected for the testing of Fourth Industrial Revolution technologies and the Greenfield exploration drilling that has restarted at Target North.   

Implats, 4IR and Target North make headlines

Uranium firm NexGen raises C$150m

By: Mariaan Webb     26th February 2021 British Columbia uranium company NexGen has announced a C$150-million bought deal financing, the proceeds of which will be used for general corporate purposes, including the development of the Rook I project, in the Athabasca basin of Saskatchewan. NextGen entered into an agreement with a... 

Eldorado gold output up 34% despite Covid impacts

By: Mariaan Webb     26th February 2021 Canadian miner Eldorado Gold has bolstered its gold production by 34% to 528 874 oz in 2020, achieving the guidance that it has set out for the year, despite the impacts of the Covid-19 pandemic. The higher output was primarily due to an increase in tonnes of ore stacked and placed under heap... 

Army Corps accepts Pebble request for appeal

By: Creamer Media Reporter      26th February 2021 Toronto-listed Northern Dynasty said on Thursday that the US Army Corps of Engineers (USACE) had accepted Pebble Limited Partnership’s request to initiate an administrative appeal process with respect to southwest Alaska’s Pebble project. The USACE issued a negative ‘record of decision’ (ROD) in... 

Copper’s spike brings back supercycle-era fears of substitution

By: Bloomberg     26th February 2021 In the frenzy of copper’s record run a decade ago, manufacturers making wires and pipes rapidly went in search of cheaper substitutes, in a trend that left a lasting dent in demand. With prices spiking again, the allure of alternatives has never been greater. A rally above $9 000 a metric ton... 

Copper’s spike brings back supercycle-era fears of substitution

Peru's Southern Copper: global price rally spurring new projects

By: Reuters     26th February 2021 Peru's Southern Copper, one of the world's top copper producers, plans to push forward new and pending projects as demand from China and constrained supply helps propel a global price rally, an executive told Reuters on Thursday. Raul Jacob, the company's vice president for finance, said in an... 

Peru's Southern Copper: global price rally spurring new projects

Freeport eyes US expansions as Biden's EV plan boosts copper demand

By: Reuters     26th February 2021 Freeport-McMoRan is set to approve expansions at several of its US copper mines to capitalise on surging demand for the red metal as President Joe Biden moves to electrify the nation's automobiles and combat climate change, CEO Richard Adkerson told Reuters. The expansions would be a major bet... 

Freeport eyes US expansions as Biden's EV plan boosts copper demand
Freeport CEO Richard Adkerson

Vale books hefty dam disaster charges, but bullish about core earnings

By: Reuters     26th February 2021 Brazil's Vale logged $4.9-billion in provisions related to the Brumadinho dam disaster in quarterly earnings, but its ferrous metal division turned in a strong performance and the miner was upbeat about the outlook for key products. Some $3.9-billion of the provisions are part of a recently... 

Vale books hefty dam disaster charges, but bullish about core earnings

Aus emissions below Paris Agreement target

By: Esmarie Iannucci     26th February 2021 Australia has recorded a 4.4%, or 23.3-million tonne decline in emissions in the year to September 2020, with emissions reaching 510.1-million tonnes, the federal government’s National Greenhouse Gas Inventory has shown. Australia’s emissions are now 19% below 2005 levels, which is the baseline... 

CFMEU calls for inquiry to include Moranbah North

By: Esmarie Iannucci     26th February 2021 The Miners Union is calling on the Queensland government to make urgent changes to the ongoing Queensland Coal Board of Inquiry in light of events at Moranbah North coal mine. Miner Anglo American withdrew staff from the Moranbah North coal mine following changes in underground conditions, with... 

Coal exports bring Bathurst down

By: Esmarie Iannucci     26th February 2021 Coal miner Bathurst Resources has reported reduced earnings and revenue for the first half of the 2021 financial year, as its export business continued to face significant challenges. Revenue for the six months under review declined to NZ$97.8-million, compared with the NZ$129.3-million in the... 

Orocobre widens loss in first half

By: Esmarie Iannucci     26th February 2021 Lithium miner Orocobre has widened its losses for the first half of the 2021 financial year, compared with the previous corresponding period, as revenues decreased. The ASX and TSX-listed company on Friday reported a statutory consolidated group net loss of $29.1-mllion, down from the los of... 

NAIF backs Qld fertiliser project

By: Esmarie Iannucci     26th February 2021 The Northern Australia Infrastructure Facility (NAIF) has now approved a A$71-million loan to fertilizer producer Agripower Australia to help grow its exports and create jobs in Queensland. Minister for Resources, Water and Northern Australia Keith Pitt said the loan would be used to upgrade... 

Kirkland Lake ends year on high note

By: Esmarie Iannucci     26th February 2021 Triple listed gold miner Kirkland Lake Gold has reported a record quarter for the three months to December, while achieving all of its full year production targets. Gold production in the December quarter reached a record 396 434 oz, up from the 279 742 oz produced in the previous corresponding... 

Kirkland Lake ends year on high note

Magazine round up 

26th February 2021 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

Magazine round up

Energy Regulator approves 40 MW solar licence for Gold Fields' South Deep 

By: Creamer Media Reporter      25th February 2021 The National Energy Regulator of South Africa (Nersa) announced on Thursday that the Energy Regulator, at its meeting held on February 25, approved the issuance of a generation licence for a 40 MW solar photovoltaic (PV) plant to be developed at the South Deep gold mine, in Gauteng. The licence... 

Energy Regulator approves 40 MW solar licence for Gold Fields' South Deep

Deal for key metal in EV revolution brought bonanza for newcomer

By: Bloomberg     25th February 2021 A transfer of lucrative cobalt and copper assets by the Democratic Republic of Congo’s state mining company enabled a little-known investor to make $40 million within weeks. The transaction and almost immediate resale of control of the assets to Eurasian Resources Group is the latest deal in... 

Uranium poised for growth in 2021

By: Marleny Arnoldi     25th February 2021 Potential further suspensions in the operations of uranium mines this year as a result of second or even third waves of Covid-19 infections could drive the uranium price higher. During a webinar hosted by Africa Mining Forum on February 25, Canada-listed GoviEx Uranium CEO Daniel Major said... 

Uranium poised for growth in 2021

Gemfields to reopen Kagem emerald mine after nearly a year of standstill

By: Marleny Arnoldi     25th February 2021 UK-headquartered Gemfields has confirmed that its 75%-owned Kagem emerald mine, in Zambia, will reopen principal operations in a phased manner starting in the second week of March. As a result of the Covid-19 pandemic all but critical operations at the mine have remained suspended since March... 

Some of Kruger’s ‘lost hoard’ up for sale through SA Mint

By: Donna Slater     25th February 2021 The South African Mint has released what it says is a rare, intriguing trove of century-old South African gold coins – Kruger ponde – that were discovered in a Swiss vault. The Mint is a wholly-owned subsidiary of the South African Reserve Bank.   

Some of Kruger’s ‘lost hoard’ up for sale through SA Mint
The Kruger half-pond

Higher prices, depreciation of the rand gave RBPlat's 2020 performance a boost

By: Donna Slater     25th February 2021 Midtier platinum group metals (PGM) miner Royal Bafokeng Platinum (RBPlat) reports that its earnings for the year ended December 31, 2020, were positively impacted on by a significant increase in the PGM basket price as a result of improved market conditions and a weaker rand. The growth in the... 

Anglo achieves resilient performance in a tough year 

By: Simone Liedtke     25th February 2021 As much of the world was tested to its limits by the Covid-19 pandemic during 2020, the resilience of diversified miner Anglo American's diversified business, along with strong metals prices in the latter months of the year, resulted in underlying earnings before interest, taxes, depreciation and... 

Anglo American CEO Mark Cutifani gives more insight into the effect of the Covid-19 pandemic and the company's full year results for 2020. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

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Implats in final stages of approving R10bn worth of new platinum projects

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Test mine study under way for Fourth Industrial Revolution try-outs

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