R/€ = 16.98 Change: -0.04
R/$ = 16.60 Change: 0.01
Au 1795.47 $/oz Change: 18.22
Pt 935.00 $/oz Change: 0.50

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Barrick’s Mali trebling solar as renewables stave off high energy prices at Kibali

By: Martin Creamer     Updated 7 hours ago The African regions are continuing to excel on all fronts for Barrick, the large gold-copper miner that is benefitting from a stand-out performance in Tanzania, is finding exploration in Mali and Senegal “a gift that keeps giving”, and is being received with open arms in Pakistan. Under the... 

Barrick CEO Mark Bristow.
Photo by Creamer Media
Barrick CEO Mark Bristow.

Barrick expects deal opportunities in copper, but won’t pay premiums

By: Bloomberg     9th August 2022 Barrick Gold boss Mark Bristow expects deal-making opportunities to arise in copper amid a dearth of attractive new deposits, although for now it’s difficult to find value. BHP Group has returned to major dealmaking in a hunt for metals vital to the shift to electric transport and clean energy.... 

Barrick takes lead in holistic ESG integration amid ‘greenwashing’ scepticism 

By: Martin Creamer     8th August 2022 Gold and copper mining company Barrick has taken the lead in integrating the various aspects of environmental, social and governance (ESG) to ensure holistic and objective measurement, Barrick CEO Dr Mark Bristow stated on Monday, when the New York- and Toronto-listed company reported strong... 

Barrick CE Dr Mark Bristow.
Barrick CE Dr Mark Bristow.

President’s new energy plan opens way for Glencore Alloys to target bigger projects 

By: Martin Creamer     8th August 2022 Glencore Alloys head Japie Fullard has hailed the new energy plan announced by President Cyril Ramaphosa as opening the way for the company to target bigger power projects. “I must say that the President’s energy presentation is definitely something that is appealing to us,” said Fullard, who... 

Glencore Alloys head Japie Fullard.
Glencore Alloys head Japie Fullard.

Eskom makes case for major overhaul of retail tariff structure in submission to regulator

By: Terence Creamer     8th August 2022 Eskom has submitted a tariff restructuring application to the National Energy Regulator of South Africa (Nersa) in which the utility is proposing a major overhaul of the prevailing retail tariff structure, including a separation of energy, network and service charges and the introduction of... 

Eskom head office at Megawatt Park
Eskom head office at Megawatt Park

Tirupati raises £1.5m to expand capacity

By: Donna Slater     8th August 2022 Specialist graphite and graphene company Tirupati Graphite has raised £1.5-million in a private placement of convertible loan notes through its broker Optiva Securities as a first tranche of an overall £3-million capital raise. The proceeds from this initial tranche will be used to fund the... 

Bushveld appoints interim chairperson after Watson retires

By: Donna Slater     8th August 2022 Aim-listed integrated primary vanadium producer and energy storage solutions provider Bushveld Minerals has appointed Michael Kirkwood as interim chairperson, following incumbent Ian Watson’s retirement. Watson’s retirement became effective as of Bushveld’s annual general meeting (AGM) on August... 

Xtra-Gold lifts cash to $5.7m in H1

By: Donna Slater     8th August 2022 In the first half of this year, TSX-listed Ghana-focussed gold explorer Xtra-Gold produced 1 098 oz of raw gold and sold 1 162 fine ounces at an average price of $1 928/oz, thereby increasing the company’s cash on hand (excluding restricted cash) to $5.7-million, from $4.7-million at the end of... 

'Fire will be met with fire': Cops send special reinforcements to combat Krugersdorp illegal miners

By: News24Wire      8th August 2022 Police Minister Bheki Cele says reinforcements will be sent to West Village in Krugersdorp, Gauteng to help fight illegal miners accused of terrorising residents. On Sunday, Cele, Gauteng Premier David Makhura and senior police officers visited the area for a community imbizo. Residents claimed... 

Police Minister Bheki Cele
Police Minister Bheki Cele

'I don't want to count officers on the ground, but illegal miners' – Cele vows 'hard' response

By: News24Wire      8th August 2022 There were hints of the controversial shoot-to-kill rhetoric from Police Minister Bheki Cele on Sunday when he addressed angry Kagiso residents. Cele, who said he would not instruct his officers to "shoot to kill", again came under pressure from residents who called on him to "win the war"... 

Police Minister Bheki Cele
Police Minister Bheki Cele

Lithium projects in Africa increasing, but Americas will still dominate – Fitch Solutions

By: Tasneem Bulbulia     8th August 2022 Fitch Solutions Country Risk and Industry Research expects to see an increase in lithium development projects in Africa, particularly from Chinese firms, with investment buoyed by expectations for lithium to resist the downwards trend of most nonferrous metals in the second half of the year amid... 

Copper dips but interest rate hopes support

By: Reuters     8th August 2022 Copper prices eased on Monday but were supported by rising imports of the industrial metal by top consumer China and by hopes that interest rates will peak soon after rapid increases aimed at curbing inflation. Benchmark copper CMCU3 on the London Metal Exchange (LME) traded down 0.2% at $7 850... 

The EV race is turning a gold rush haven into a battery hub

By: Bloomberg     8th August 2022 Gold has long dominated the Western Australian city of Kalgoorlie, born in a late 19th Century prospecting rush and home to one of the world’s largest-open pit mines, nestled right next to residential streets. Blasts to dislodge precious-metal laced rock from the more than two-mile long Super Pit... 

The EV race is turning a gold rush haven into a battery hub

Chile to 'sanction' those responsible for sinkhole near copper mine

By: Reuters     9th August 2022 Chile will seek to apply harsh sanctions on those responsible for a huge sinkhole near a copper mine in the country's north, the mining minister said on Monday. The mysterious hole of 36.5 m in diameter that emerged in late July has provoked the mobilization of local authorities and led the... 

Nutrien names Ken Seitz as CEO of the Canadian potash fertilizer producer

By: Bloomberg     9th August 2022 Canada's Nutrien, the world's largest potash fertilizer producer, named Ken Seitz as CEO on Monday, removing the interim tag. Nutrien in January surprised investors by replacing its CEO for the second time in eight months. It then named Seitz, the head of its potash business, as interim CEO,... 

BHP likely to raise bid for 'strategically sensible target' OZ - analysts

By: Reuters     9th August 2022 BHP will likely raise its A$8.34-billion ($5.82-billion) offer to buy Australia's OZ Minerals, analysts said after the global miner was rebuffed in its pursuit of the nickel-copper miner on Monday. OZ rejected BHP's A$25-a-share offer, terming it undervalued and "opportunistic" as it was tabled... 

Image shows the BHP logo

Australia’s coal shipments face a ‘deadline', Greens leader says

By: Bloomberg     9th August 2022 Greens Party leader Adam Bandt has warned the Australian government needs to start moving away from coal exports to prop up its bottom line, saying net zero goals in major trade partners will cut into fossil fuel earnings. Bandt said three of Australia’s biggest export markets for thermal coal... 

Worst-performing precious metal silver may have seen bottom

By: Bloomberg     9th August 2022 Silver’s been the worst-performer among major precious metals in 2022, but prices may have fallen far enough to spark a modest recovery. The white metal has lost about 11%, weighed down by the stronger US dollar, rising interest rates and slowing growth. But prices could turn higher from later... 

S.Australian hydrogen plans garner global interest

By: Esmarie Iannucci     9th August 2022 The South Australian government had received 60 proposals in its sounding process to test interest in a proposed hydrogen facility. The submissions, which will help shape final design and implementation, came from global operators with experience in developing green hydrogen infrastructure in... 

Oz Minerals looks at ISR for copper recovery

By: Esmarie Iannucci     9th August 2022 Copper miner Oz Minerals will invest A$2.5-million over the next 18 months to support in-situ recovery (ISR) technology research at the EnviroCopper (ECL) Kapunda copper/gold project, in South Australia. The funding would go towards investigating the potential economic extraction of copper... 

Richmond to invest in downstream optionality

By: Esmarie Iannucci     9th August 2022 Vanadium developer Richmond Vanadium Technology (RVT) has announced plans to invest up to A$5-million in Australian battery manufacturer Ultra Power Systems. Under the terms of the investment, RVT will subscribe for 20-million shares in Ultra at a price of 25c each.  

Cooper raises cash and adds to tenements

By: Esmarie Iannucci     9th August 2022 Junior Cooper Metals on Tuesday announced a A$2.55-million capital raise and the acquisition of a strategic tenement at its Mt Isa East copper/gold project, in Queensland. The ASX-listed company would issue more than 5.6-million shares, at a price of 45c each under its existing placement... 

Centrex looks at increasing Ardmore capacity

By: Esmarie Iannucci     9th August 2022 ASX-listed Centrex on Tuesday announced it was looking at ways to increase production at its Ardmore phosphate rock mine, in Queensland. The company noted that with commercial production now having restarted, Centrex was working towards increasing production to a Stage 1.5, which will be... 

Quantum makes a play for Lincoln

By: Esmarie Iannucci     9th August 2022 Junior metals explorer Lincoln Minerals has become the target of an off-market takeover bid from fellow-listed Quantum Graphite. Quantum Graphite on Tuesday lodged a bidder’s statement offering 1 of its own shares for every 40 Lincoln shares held. The offer implied a value of 1.02c a share for... 

Sumitomo Metal, Sumitomo hike Chile copper project cost estimate by 60%

By: Reuters     8th August 2022 Japan's Sumitomo Metal Mining and Sumitomo said on Monday they had raised their estimate of the construction cost for the Quebrada Blanca phase 2 (QB2) copper project in Chile to about $7.5-billion from $4.7-billion. The 60% increase comes as the Covid-19 pandemic has delayed construction which... 

Energy Fuels makes management changes 

By: Mariaan Webb     8th August 2022 To bolster its management team during its current growth phase and expansion into the rare-earth element (REE) industry, Energy Fuels has hired a new COO and CFO. The US-based company appointed John Uhrie as COO and Tom Brock as CFO with effect from August 2 and August 8, respectively. 

Energy Fuels announces long-term contracts, offers uranium to new US reserve

By: Mariaan Webb     8th August 2022 US-based Energy Fuels has executed three long-term contracts with US nuclear utilities, committing to deliver up to 4.2-million pounds between 2023 and 2030, CEO Mark Chalmers announced on Friday. The company would fulfil deliveries during the early years of these contracts from its existing... 

The White Mesa uranium mill
The White Mesa uranium mill

Acquisition to bolster Clear Sky’s lithium potential in Nevada

By: Simone Liedtke     8th August 2022 Mineral exploration and development company Clear Sky Lithium has entered into a property option agreement with miner Halo Lithium, pursuant to which it has been granted the right to acquire the Halo project, in Nevada. The acquisition of the project, which comprises 98 mineral claims, will... 

Uranium Energy Corporation submits revised offer to acquire UEX Corporation

By: Donna Slater     8th August 2022 NYSE-listed pureplay uranium company Uranium Energy Corporation (UEC) has submitted an improved buyout offer to UEX Corporation (UEX). This while Denison Mines Corporation is also trying to acquire all UEX shares in a competing offer.  

Gold Resources provides Michigan enviro dept with an update on Back Forty improvements

By: Tasneem Bulbulia     8th August 2022 NYSE-listed gold and silver miner Gold Resources said in a statement on August 5 that it had been invited by the Michigan’s Department of Environment, Great Lakes and Energy (EGLE) to participate in a scoping environmental-impact assessment (SEIA) Meeting on the day. The company said it was given... 

Imperial Metals seeks to raise $45m to bridge Mount Polley restart revenue shortfall

By: Creamer Media Reporter      8th August 2022 Vancouver-headquartered Imperial Metals Corporation is seeking to secure additional funds for restart activities at its Mount Polley copper and gold mine by way of a nonbrokered private placement of $45-million in convertible debentures. The company notes that the mine is operating at targeted... 

Peru copper production rises 8.6% in June with Las Bambas resuming ops

By: Reuters     8th August 2022 Copper output in Peru, the world's second-largest producer of the red metal, rose 8.6% in June from a year earlier, government data showed on Friday, as operations at the giant Las Bambas mine resumed after a truce granted by indigenous communities protesting at the site. Copper production in... 

Chile sinkhole grows large enough to swallow France's Arc de Triomphe

By: Reuters     8th August 2022 A sinkhole in Chile has doubled in size, growing large enough to engulf France's Arc de Triomphe and prompting officials to order work to stop at a nearby copper mine. The sinkhole, which emerged on July 30, now stretches 50 meters (160 feet) across and goes down 200 meters (656 feet). Seattle's... 

Indonesia says Tesla strikes $5bn deal to buy nickel products – media

By: Reuters     8th August 2022 US carmaker Tesla has signed contracts worth about $5-billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia. Southeast Asia's biggest economy has been trying to get Tesla to set up a production facility in the... 

Wiluna administrators looking at sale

By: Esmarie Iannucci     8th August 2022 The administrators of ASX-listed Wiluna Mining is looking to increase gold recovery from the Wiluna mine in the near term, while exploring recapitalisation or sale opportunities. Following the first meeting of creditors on August 1, the administrators said that its intentions to continue... 

Impact to divest majority of Commonwealth project

By: Esmarie Iannucci     8th August 2022 Junior Impact Minerals has agreed to divest a 75% interest in the Commonwealth gold/silver/base metals project, in New South Wales, to unlisted Burrendong Minerals. Under the terms of the agreement, Impact would receive a non-refundable option fee of A$25 000 for an eight week exclusivity period... 

Worsley expansion given two more weeks for public comment

By: Esmarie Iannucci     8th August 2022 The Western Australian Environmental Protection Authority (EPA) has given stakeholders and community groups an additional two weeks to comment on diversified miner South32’s proposed expansion at its Worsley alumina operations. South32 is proposing to continue operations and expand the existing... 

Sheffield secures A$110m more in Thunderbird funding

By: Esmarie Iannucci     8th August 2022 Mineral sands developer Sheffield Resources has secured a $110-million project finance facility to fund its Thunderbird mineral sands project, in Western Australia. The ASX-listed company on Monday announced that Orion Resource Partners and Kimberley Mineral Sands (KMS) had agreed upon a... 

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Magazine round up | 05 August 2022

High-flying Glencore locks in renewable power, prioritises future-facing metals

SA's energy plan, Queensland royalty rates, Anglo's green hydrogen production plan make headlines

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Anglo’s big on-site solar, off-site wind plan lays foundation for green hydrogen

Royal Bafokeng applauds President’s energy plan, nears decision on solar

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