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Nothing adds more value than improving operational performance – AngloGold 
By: Martin Creamer 5th August 2022 Gold mining company AngloGold Ashanti is firmly focused on operation performance and the recovery of cost competitiveness as it implements its full asset potential review programme, on which it will report at three-monthly intervals. This was made clear by AngloGold Ashanti CEO Alberto Calderon... →
AngloGold declares $121m first-half dividend on strong cash flow, higher production
By: Martin Creamer 5th August 2022 Gold mining company AngloGold Ashanti on Friday declared an interim dividend of $121-million on 3% higher year-on-year production and a strong cash-flow improvement. First-half production for the first six months of 2022 was 1.233-million ounces, with second-quarter output up 10% on strong... →
Vedanta Zinc breaks ground on R7bn Gamsberg expansion project
By: Darren Parker 5th August 2022 Zinc mining company Vedanta Zinc International (VZI) officially broke ground on its Gamsberg Phase II project on August 5. The R7-billion investment in the expansion of the company’s opencast zinc mine is expected to create between 2 000 and 2 500 jobs during the construction phase and a further... →
Electricity reforms to spur ‘boom in private fixed investment’
By: Terence Creamer 5th August 2022 Minister in the Presidency Mondli Gungubele says the reforms under way in the electricity sector – including the removal of the 100 MW licensing threshold for distributed generation projects and the expedited procurement of new capacity from renewables, gas and battery storage – will “supercharge... →
Minister in the Presidency Mondli Gungubele
Implats’ earnings to decline on lower sales revenue, inflationary pressures
By: Donna Slater 5th August 2022 Platinum group metals (PGMs) miner Impala Platinum (Implats) expects its basic earnings for the financial year ended June 30 to decrease by between 29% and 35% year-on-year, to between R30.5-billion and R33.5-billion, while its earnings a share for the period are expected to decrease by between... →
Angolan sovereign wealth fund invests further $10m in Pensana
By: Tasneem Bulbulia 5th August 2022 Aim-listed Pensana says Fundo Soberano de Angola (FSDEA), the Angolan Sovereign Wealth Fund, will make a further $10-million equity investment in the company in return for 12.3-million ordinary shares in Pensana. These funds will be directed towards Pensana’s Angola-based Longonjo project’s early... →
South Africa, Botswana agree to boost rail link
By: Donna Slater 5th August 2022 South Africa and Botswana have agreed, in principle, on joint development initiatives to be implemented by Transnet Freight Rail (TFR) and Botswana Rail (BR), to improve trade between the two countries, following a high-level business roundtable. The initiatives will enable landlocked Botswana... →
Master Drilling to report higher interim earnings
By: Donna Slater 5th August 2022 JSE-listed drilling services company Master Drilling expects its earnings per share (EPS) for the first half of this year to be between 47.2% and 67.2% higher year-on-year, at between R1.28 and R1.45. Headline earnings per share (HEPS) are expected to be between 45.5% and 65.5% higher... →
West Wits to explore for uranium at Witwatersrand Basin project
By: Donna Slater 5th August 2022 ASX-listed precious and base metals explorer, developer and producer West Wits Mining has started the first phase of drilling to test uranium mineralisation at its uranium exploration target, which forms part of the Bird Reef exploration programme at the Witwatersrand Basin project (WBP). In... →
Red Rock’s arbitration over DRC asset continues
By: Tasneem Bulbulia 5th August 2022 Natural resource development company Red Rock Resources says in an asset review and current developments update to shareholders that arbitration is continuing in the Democratic Republic in Congo (DRC), with the outcome unknown. “As many will know, we recently returned from a trip to the DRC of... →
Deep Yellow and Vimy merger implemented
By: Esmarie Iannucci 5th August 2022 The merger agreement between uranium developer Deep Yellow Resources and Vimy Resources has been implemented, creating a global uranium player. The two companies earlier this year announced the merger agreement under which Deep Yellow would acquire all of the shares in ASX-listed Vimy, with Vimy... →
B2Gold and AngloGold pull Colombia gold project
By: Mariaan Webb 5th August 2022 Joint venture (JV) partners B2Gold and AngloGold Ashanti are reviewing alternatives for their Gramalote project, in Colombia, after the preliminary optimised feasibility study for the project failed to impress. Both parties agreed that the project does not meet their investment thresholds to... →
SAHRC blames former mine owners for illegal mining activities
By: Yvonne Silaule 5th August 2022 The South African Human Rights Commission (SAHRC) blames former mine owners for illegal mining activities. This comes as recent instances of crime have again highlighted the extent of illegal mining taking place in parts of the country, as well as the criminal behaviour that stems from these... →
Russia becomes India's third-largest coal supplier in July, Coalmint data shows
By: Reuters 5th August 2022 Russia became India's third-largest coal supplier in July, with imports rising by over a fifth compared with June to a record 2.06-million tonnes, data from Indian consultancy Coalmint showed. Russia has historically been the sixth-largest supplier of coal to India, behind Indonesia, South... →
Gold heads for third weekly gain on rising demand for havens
By: Reuters 5th August 2022 Gold traded near a one-month high -- after jumping the most since March on Thursday -- as US-China tensions and a deepening global slowdown buoyed demand for haven assets. Bullion surged 1.5% on Thursday and is heading for a run of three straight weekly gains after China likely fired missiles... →
Lithium miner ioneer finds workaround for wildflower that’s stalling US project
By: Bloomberg 5th August 2022 A lithium supplier for Ford Motor and Toyota Motor expects to clear an environmental hurdle involving a rare flower next year, paving the way for deliveries to electric-vehicle makers ahead of looming shortages of the battery metal. ioneer seeks to build its Rhyolite Ridge lithium-boron project... →
Rio Tinto not concerned about Chinese ore-buying company -executive
By: Reuters 5th August 2022 Rio Tinto is not concerned about China's plans to centralise iron ore purchases and has strong ties with its customers, the Australia CEO for the global miner said on Friday. Kellie Parker's comments were in response to questions from the media about China Mineral Resources Group, a state-owned... →
Rio Tinto attracts several proposals to build 4 GW of wind, solar power
By: Reuters 5th August 2022 Global miner Rio Tinto has received several offers to build 4 GW of wind and solar farms to power its alumina and aluminium operations in Australia's Queensland state, the company's Australia head said on Friday. Rio Tinto CEO Australia Kellie Parker said the company, the country's biggest... →
MP Materials profit more than doubles on higher rare earths prices
By: Reuters 5th August 2022 Rare earths miner MP Materials reported a better-than-expected quarterly profit on Thursday due to rising demand and prices for the materials used to make electric vehicles and a range of consumer goods. The Las Vegas-based company posted second-quarter net income of $73.3-million, or 38c a... →
Core appoints CEO
By: Esmarie Iannucci 5th August 2022 Lithium developer Core Lithium has appointed Gareth Manderson as the company’s CEO, succeeding Stephen Biggins, who announces his resignation as MD in March this year. Manderson, who has 28 years experience in the mining and minerals sector, was most recently the GM of sustaining capital with... →
Equinox keeps lid on Greenstone costs, appoints new CEO
By: Mariaan Webb 5th August 2022 Canadian miner Equinox Gold is making good construction progress at its Greenstone project, in Ontario, which is now 35% complete and remains on schedule for completion in 2024. Despite inflationary pressures sweeping through the mining industry, Equinox has managed to control costs at the... →
Seabridge sees potential for copper-rich underground mine at KSM
By: Mariaan Webb 5th August 2022 Toronto- listed Seabridge Gold has unveiled the results of a preliminary economic assessment (PEA) study for a potential copper-rich underground mine at its KSM project, in northern British Columbia. The 2022 PEA is a stand-alone mine plan that has been undertaken to evaluate a potential future... →
Nutrien says potash will remain tight even as Russia ships more
By: Bloomberg 5th August 2022 Global potash will remain tight even as more buyers shed their fear of buying from Russia and Belarus, according to a top fertilizer maker’s chief executive officer. Supplies from Russia may remain as much as 20% below 2021 levels even as access to export markets grow into the coming year, Ken... →
Arafura raises A$41.5m for Nolans
By: Esmarie Iannucci 5th August 2022 ASX-listed Arafura Resources on Friday announced plan to raise A$41.5-million to progress the development of its Nolans rare earths project, in the Northern Territory. The company has received firm commitments from institutional and professional investors, and would issue some 156.7-million... →
Zinc climbs as Glencore says energy crunch puts smelters at risk
By: Bloomberg 5th August 2022 Zinc neared a one-month high while other metals came under pressure in London, with top producer Glencore warning that Europe’s energy crisis poses a substantial threat to supply. Glencore has already suspended production at one of its zinc smelters in Europe, leading to a sharp drop in its... →
One of mining’s top female leaders vows change after abuse shame
By: Bloomberg 5th August 2022 Complaints about workplace conduct at Rio Tinto Group have almost doubled in the wake of inquiries that exposed a mining industry rife with sexual abuse, harassment and racism, according to one of the sector’s highest profile female executives. “It has encouraged our people to speak up about... →
Mexican president promises non-stop effort to save 10 trapped miners
By: Reuters 5th August 2022 Rescue teams will work non-stop to free 10 miners trapped in a flooded coal mine in Mexico's northern border state of Coahuila, Mexican President Andres Manuel Lopez Obrador said on Thursday. The miners became trapped on Wednesday after three wells at the mine overflowed, causing an inner wall... →
Lithium exports reached record heights in June - ABS
By: Esmarie Iannucci 5th August 2022 A deep dive by the Australian Bureau of Statistics (ABS) into the Australian lithium sector has shown that lithium concentrate exports reached a record high in the month of June, reaching A$1.16-billion. This was up 1 189% or A$10.7-billion from the month of June in 2021. →
MCA calls for nuclear inclusion
By: Esmarie Iannucci 5th August 2022 The Minerals Council of Australia (MCA) has called for the inclusion of next generation nuclear technologies to be considered as part of the Australian energy mix. MCA CEO Tania Constable said this week that these technologies could play an important role in building Australia’s economic... →
Climate Change Bill passes first hurdle
By: Esmarie Iannucci 5th August 2022 The federal government’s Climate Change Bill 2022 has passed through the House of Representatives. The Bill will enshrine into law an emissions reduction target of 43% from 2005 levels by 2030 and net zero emissions by 2050. →
New records set for Aus resource exports
By: Esmarie Iannucci 5th August 2022 New trade data from the Australian Bureau of Statistics (ABS) has shown that Australia’s resources sector had posted another record year of exports, with total resources and energy exports were worth a record A$414-billion, in seasonally adjusted terms, in the 2021-22 financial year. This meant... →
Magazine round up | 05 August 2022 
5th August 2022 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. →
Gold value falls 3.5% in July
By: Donna Slater 4th August 2022 The World Gold Council (WGC) reports that the value of gold fell by 3.5% in July as a result of a strong dollar and flat demand in the first half of the month, leaving it down 2.9% for the year to date, at $1 753/oz. However, softer inflation expectations mid-month and jobless claims a few days... →
Ironveld general meeting to go ahead despite a request for withdrawal
By: Darren Parker 4th August 2022 London-listed iron-ore company Ironveld’s general meeting (GM), set for Friday August 12, will go ahead despite the company having received written communication from investment research firm Align Research director Richard Jennings requesting that the GM be stayed. With the GM having already... →
Galileo starts drilling on Luansobe copper project
By: Marleny Arnoldi 4th August 2022 London-listed Galileo Resources has started a 3 000 m core drilling programme on the Luansobe copper project, in Zambia. The programme has been designed to infill gaps in historic drilling and twin selected holes, with a particular focus on shallow up-dip projections of the deposit. →
Largo Clean Energy mulls JV with Ansaldo
By: Marleny Arnoldi 4th August 2022 Canada-headquartered vanadium supplier Largo subsidiary Largo Clean Energy has signed a memorandum of understanding (MoU) with renewable energy company Ansaldo Green Tech (AGT) to assess opportunities for working together on manufacturing and deploying vanadium redox flow batteries (VRFBs). The... →
Power Metal announces next phase of exploration at Botswana project
By: Darren Parker 4th August 2022 London-listed exploration company Power Metal Resources has started the next phase of exploration on its Molopo Farms Complex (MFC) project in southwestern Botswana. The company said on August 4 that it had mobilised spectral geophysics to the MFC project, which is targeting a large-scale nickel,... →
Platinum-based fuel cells key for heavy-haul industry – WPIC
By: Donna Slater 4th August 2022 The World Platinum Investment Council (WPIC) reports that interest in using hydrogen fuel cells in the heavy-haul industry is growing rapidly, with several interesting developments currently under way. Platinum-based, proton exchange membrane (PEM) hydrogen fuel cells provide zero emissions... →
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