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Thungela shares R500m with employees, community as it sets out to plant million trees, add solar power  

By: Martin Creamer     16th August 2022 Coal mining and exporting company Thungela, which generated R8.9-billion free cash in the first six months to June 30, is sharing R500-million of it with employees and communities, setting out to plant a million trees to purify water, putting in solar power to reduce its carbon footprint as it... 

Thungela CEO July Ndlovu interviewed by Mining Weekly's Martin Creamer. Video: Nicholas Boyd.

Exxaro expecting half-year earnings to soar 

By: Martin Creamer     16th August 2022 Coal mining and renewable energy company Exxaro advised on Tuesday of its half-year earnings being set to soar on the exceptional performance of its coal business. Half-year earnings before interest tax depreciation and amortisation (Ebitda) will be up 137% to 151% compared with the first half of... 

Exxaro CEO Dr Nombasa Tsengwa.
Exxaro CEO Dr Nombasa Tsengwa.

Minerals Council clamps down on ‘procurement mafia’, says SLPs are being frustrated

By: Marleny Arnoldi     16th August 2022 On the ten-year anniversary of the Marikana Massacre, the Minerals Council South Africa says the good intent of mines’ social labour plans (SLPs), which are often a source of conflict that may contribute to violent protests, is often frustrated or overtaken by prevailing socioeconomic conditions... 

Sibanye-Stillwater's Marikana K4 Shaft
Sibanye-Stillwater's Marikana K4 Shaft

Rights organisations are seeking accountability for failed Marikana housing

By: Marleny Arnoldi     Updated 7 hours ago As this year marks the tenth anniversary of the Marikana Massacre, in which 34 mineworkers were killed by the South African Police Service during a protest at the Lonmin platinum mine, in Rustenburg, University of the Witwatersrand’s human rights organisation Centre for Applied Legal Studies... 

Transnet security guards to be made peace officers

By: Darren Parker     16th August 2022 Justice and Correctional Services Minister Ronald Lamola has given approval for State-owned Transnet’s security officers to be granted peace officer status as Gazetted on August 5, elevating them above mere security guards and giving them powers comparable to the Metro Police. In terms of Chapter... 

handcuffs
Photo by Bloomberg
Transnet security officers will now have the power to make arrests

BHP's profit soar in 2022

By: Esmarie Iannucci     16th August 2022 Diversified miner BHP has reported a 34% increase in profits for the year ended June, along with record underlying earnings before interest, tax, depreciation and amortisation (Ebitda). Profit from operations reached $34.1-billion in the year ended June, and underlying EBITDA reached a record... 

Image shows BHP CEO Mike Henry
BHP CEO Mike Henry

BHP makes executive changes

By: Esmarie Iannucci     16th August 2022 Major BHP has announced the appointment of its Australia president Edgar Basto as COO, effective from October 1. Basto will be replaced as Australia president by Geraldine Slattery. 

Rainbow joins the European Raw Material Alliance

By: Creamer Media Reporter      16th August 2022 London-listed Rainbow Rare Earths has become a member of the European Raw Material Alliance (Erma) – an industry body that is working to ensure reliable, secure and sustainable access to critical and strategic raw materials, with a specific focus on the rare earth magnet chain.  Aiming to make... 

Tanzania company to produce, sell coal from Rukwa mine on behalf of Edenville

By: Darren Parker     16th August 2022 London-listed Edenville Energy has signed a 12-month agreement for Brahma Energies to produce and sell at least 4 000 t a month of washed coal from Edenville’s Rukwa coal project, in Tanzania. Under the terms of the agreement, which takes immediate effect, Brahma will take on full day-to-day... 

stockpiles at Rukwa

Zimbabwe offers target-beating incentive for biggest gold miners

By: Bloomberg     Updated 6 hours ago Zimbabwe extended an incentive for the country’s biggest gold miners to produce above state-set output targets. Large producers that exceed their goals will receive 80% of the payment for the additional output in foreign currency, Deputy Mines Minister Polite Kambamura said in an interview. That... 

Trevali warns it will default on debt

By: Mariaan Webb     16th August 2022 Base metals miner Trevali warned on Monday that its liabilities exceeded its assets and that it would not be able to make a mandatory payment of $7.5-million on a revolving credit facility this week. This comes as the company has faced several setbacks, including a flooding event that shuttered... 

Bannerman completes NMI buy

By: Esmarie Iannucci     16th August 2022 Uranium developer Bannerman Energy has completed the acquisition of a 41.8% shareholding in TSX-V listed critical minerals explorer Namibia Critical Metals Inc (NMI). The company in May unveiled the A$7.24-million in cash and 846 337 Bannerman shares, post a share consolidation, transaction,... 

Wärtsilä to supply 18 MW of additional power capacity at Senegal gold mine

By: Darren Parker     16th August 2022 Technology group Wärtsilä will supply an 18 MW extension to the power generating facility and also upgrade the electrical and automation system of the existing power plant at gold producer Endeavour Mining’s Sabodala-Massawa gold mine complex, in Senegal. The upgrade and extension project will... 

Russian mercenaries seek gold, sow chaos in CAR

By: Bloomberg     16th August 2022 The Central African Republic (CAR) is defending the use of Russian assistance to take back territory the government says rebels have illegally occupied, despite widespread claims of indiscriminate killings of civilians and looting of mining sites. Albert Yaloke Mokpeme, spokesperson for the CAR... 

Oz Minerals is 'nice to have, not must have', says BHP CEO

By: Reuters     Updated 7 hours ago  BHP Group was disappointed that its "compelling" offer to buy out Oz Minerals was rejected, CEO Mike Henry said on Tuesday. "It's pretty disappointing that the board (of Oz Minerals) chose not to engage," Henry told journalists at a media briefing after announcing his company's annual results.  

BHP CEO Mike Henry
BHP CEO Mike Henry

Dry-ice blasting service provider underscores advantages of dry ice blast cleaning

By: Simone Liedtke     16th August 2022 Similar to sand blasting, bead blasting or soda blasting, dry ice blasting service provider Dry Ice Blasting Services underscores the advantages to dry ice blast cleaning, which it says is “not well known”, although it is a time-saving, green and cost-effective cleaning method. The modernized... 

Dry-ice blasting service provider underscores advantages of dry ice blast cleaning

Iron-ore subdued on China demand concerns

By: Reuters     16th August 2022 Dalian and Singapore iron-ore futures were volatile on Tuesday as traders weighed curbs in industrial electricity consumption in China's Sichuan province that hit steel production. Iron ore's front-month September contract on the Singapore Exchange SZZFU2 was down 0.3% at $105.65 a tonne, as of... 

Group of companies collaborate on delivering innovative solutions in the industrial space

By: Simone Liedtke     16th August 2022 Using innovative solutions that reduce project risk and increase productivity will help to drive schedule and budget compliance, says mechanical contractor Prommac. This focus, it adds, also will see “happy employees [being] more likely to give their best in all aspects of their work” as a... 

Prommac offers innovative maintenance, shutdown and multi-discipline project solutions
Photo by Prommac
Prommac offers innovative maintenance, shutdown and multi-discipline project solutions

Zinc hits two-month peak on fears of shortages after Nyrstar move

By: Reuters     16th August 2022 Zinc prices surged to their strongest in two months on Tuesday after production was suspended at a Dutch smelter amid high power prices, stoking fears of shortages. Benchmark zinc on the London Metal Exchange jumped 6.6% to $3 797.50 a tonne by 10:30 GMT, the highest since June 9. Nyrstar said... 

Nyrstar to put Budel zinc operations on care and maintenance on Sept 1

By: Reuters     16th August 2022 Nyrstar will put its zinc smelting operations at Budel in the Netherlands on care and maintenance from September 1, the Belgian company said on Tuesday, citing "various external factors". Skyrocketing power prices have spurred suspensions and cutbacks by zinc smelters throughout Europe. Nyrstar... 

The Budel smelting operations
The Budel smelting operations

Endeavour announces board change

By: Creamer Media Reporter      16th August 2022 LSE- and TSX-listed Endeavour Mining said on Monday that David Mimran had stepped down as director of the company. He joined the Endeavour board following the company’s acquisition of Teranga Gold early last year. 

TNG diversifies into lithium

By: Esmarie Iannucci     16th August 2022 ASX-listed TNG has acquired the Sandover lithium project, some 50-km from its Mount Peake vanadium/titanium/iron project, in the Northern Territory. The two exploration tenements that make up the project area covers some 8 151 km 2 and is considered highly prospective for lithium in pegmatites. 

Anova buys Warriedar gold project

By: Esmarie Iannucci     16th August 2022 Junior Anova Metals has struck a deal with fellow listed Red Dirt Metals to acquire the Warriedar gold project, in Western Australia. Anova will acquire the project for an up-front acquisition price of A$1.2-million, which will be satisfied through the issue of 100-million of its own shares, at... 

India buys discounted Venezuelan petcoke to replace coal

By: Reuters     16th August 2022 Indian companies are importing significant volumes of petroleum coke from Venezuela for the first time, trade sources and shipping data show, as the OPEC nation boosts exports not specifically targeted by US sanctions. India's growing appetite for Venezuela's petcoke – a byproduct from oil... 

Lundin weighs sale of $1bn copper/zinc mine in Portugal

By: Bloomberg     16th August 2022 is weighing the sale of a copper and zinc mine in Portugal that could be valued at about €1-billion, people familiar with the matter said. The Toronto-based company is speaking with potential advisers as it explores options for the Neves-Corvo mine in southern Portugal, the people said, asking... 

Fall-of-ground claims the life of a Harmony employee

By: Creamer Media Reporter      16th August 2022 An employee of Harmony Gold Mining was killed in a fall-of-ground (FoG) incident at the Moab Khotsong mine, in the North West at the weekend. The relevant authorities, as well as the family members of the deceased were informed and a comprehensive in-loco investigation is under way. 

Oil industry gears up to tap US climate bill for carbon capture projects

By: Reuters     16th August 2022 Tax credits in the $430-billion US climate and tax bill set to be signed into law this week will kickstart carbon sequestration projects, say oil and gas proponents, offsetting startup costs for some of the anti-pollution initiatives. Carbon capture and storage hubs that take gases from... 

More flooding in Mexican mine frustrates rescue effort for 10 miners

By: Reuters     16th August 2022 Mexico's efforts to save 10 miners who became trapped in a flooded coal mine 13 days ago hit another setback as underground water levels have surged higher, officials said on Monday. The miners became confined underground at the Pinabete mine in the border state of Coahuila on August 3 when... 

Mallee urges uptake of share placement

By: Esmarie Iannucci     16th August 2022 Junior nickel developer Mallee Resources has prompted existing shareholders and investors to partaking it its capital raise, which will close on August 19. The company was hoping to raise between A$20-million and A$70-million through a share issue, priced at 70c a share, to fund the restart of... 

Fire halts Koolan Island processing

By: Esmarie Iannucci     16th August 2022 A fire at the Koolan Island crushing plant has prompted ASX-listed Mount Gibson Iron to temporarily suspend processing activities at the site, however, the company said on Tuesday that mining of high-grade iron-ore from the Koolan main pit continued as planned. The fire occurred on August 12 in... 

Metgasco dips its toe into hydrogen

By: Esmarie Iannucci     16th August 2022 ASX-listed Metgasco on Tuesday unveiled a staged acquisition of renewable hydrogen and energy developer Patriot Hydrogen. Metgasco told shareholders that the acquisition formed part of the company’s diversification strategy, delivering a sustainable, commercially attractive and carbon net zero... 

BHP's economic analysis prepares for US recession

By: Esmarie Iannucci     16th August 2022 China is expected to remain the mainstay of diversified miner BHP’s future plans, but the miner has raised concerns around a possible recession in the US and other developed markets within the shorter-term. BHP’s VP for market analysis and economics, Dr Huw McKay said that a recession in the US... 

Copper cathode
Copper cathode

Rio 'disappointed' in Turquoise Hill decision

By: Esmarie Iannucci     16th August 2022 Major Rio Tinto said it was ‘disappointed’ by the decision of takeover target Turquoise Hill’s Special Committee to reject its C$34 a share cash bid. The Special Committee this week said that Rio’s bid for the company did not ‘fully and fairly’ reflect the value of its majority interest in the... 

Tirupati progresses three workstreams at Madagascar projects

By: Tasneem Bulbulia     15th August 2022 Following various operational difficulties in recent quarters, specialist graphite and graphene company Tirupati Graphite expects its Sahamamy and Vatomina operations, in Madagascar, to operate at at least 80% of installed capacity of 30 000 t/y from 2023. This company reports that it has made... 

Ivanhoe swings to second-quarter profit

By: Donna Slater     15th August 2022 TSX-listed diversified miner Ivanhoe Mines recorded a profit of $5-million for the second quarter of the year, up from a loss of $108.6-million for the same period of 2021. The profit in the period includes Ivanhoe Mines’ share of profit and finance income from the Democratic Republic of... 

Kogi Iron appoints new chairperson, nonexec director

By: Donna Slater     15th August 2022 ASX-listed iron-ore and steel development company Kogi Iron has appointed John Campbell Smyth as nonexecutive director, effective August 15, after incumbent Sean Gregory tendered his resignation on the same date, with immediate effect. The board has also elected Peter Huljich as nonexecutive... 

Feeding the world’s coal addiction is more profitable than ever

By: Bloomberg     15th August 2022 The globe is in the grips of a climate crisis as temperatures soar and rivers run dry, and yet it’s never been a better time to make money by digging up coal. The energy-market shockwaves from Russia’s invasion of Ukraine mean the world is only getting more dependent on the most-polluting fuel.... 

Arc begins maiden exploration drilling programme in Botswana

By: Tasneem Bulbulia     15th August 2022 Aim-listed Arc Minerals has announced the start of its maiden exploration drilling programme at its Virgo project, in Botswana. This maiden drill programme is designed to test geochemical anomalies identified in the Virgo licences located within the highly prospective Central Structural Corridor... 

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Thungela shares R500m with employees, community as it sets out to plant million trees, add solar power

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