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Kumba working with Transnet to fix tracks so that rail speed can be lifted 

By: Martin Creamer     Updated 3 hours ago Anglo American group mining company Kumba Iron Ore, which on Tuesday reported a superb set of record half-year results, is working with Transnet to refurbish the iron-ore export line so that trains can travel at a higher average speed than the current 30 km/h. In the six months to June 30,... 

A picture of the CEO of Kumba Iron Ore taken during half-year results presentation.
Photo by Creamer Media
Kumba Iron Ore CEO Themba Mkhwanazi

Exuberant Kumba Iron Ore’s stakeholders receive R51bn shared value boost 

By: Martin Creamer     27th July 2021 Anglo American group iron-ore mining company Kumba Iron Ore, which has achieved record half-year earnings with great exuberance, has shared a sky-high first-half R51-billion with its spread of stakeholders that take in the fiscus, local suppliers, nearby communities, employees, shareholders and... 

This picture was provided by Kumba as part of its half-year  results media release.
Kumba Iron Ore CE Themba Mkhwanazi

Technology will secure coal’s place in a sustainable future, says WCA

By: Marleny Arnoldi     Updated 4 hours ago In opening the Coal Industry Day 2021 on July 27, mining entrepreneur Bernard Swanepoel said the coal industry remains a significant revenue, jobs and energy contributor to the South African economy. He added that a complete faze-out scenario of coal-fired power generation was still decades away.  

Exxaro wheel loader

If done responsibly, coal mining can add value to economies – panel

By: Marleny Arnoldi     Updated 2 hours 47 minutes ago JSE-listed coal trader Thungela Resources CEO July Ndlovu says it has been a polarising year for the coal industry, with many opposing views on the commodity and the way forward for the industry. For him, the “just transition” represents not simply a switch from fossil fuels to renewables for... 

Cutting coal not as clear-cut as some wish, says analyst

By: Marleny Arnoldi     Updated 2 hours 53 minutes ago Although climate and environmental concerns have resulted in an energy policy that shies away from fossil fuels, demand for coal remains prevalent in many parts of the world, XMP Consulting senior coal analyst Xavier Prévost has said. Speaking during the Coal Industry Day 2021 conference, which... 

Bandits steal truckloads of copper worth millions in southern Africa - sources

By: Reuters     Updated 4 hours ago Crime gangs have stolen dozens of truckloads of copper owned by miners and traders including Glencore, Trafigura and Traxys this year as they were heading to ports in southern Africa, three sources with direct knowledge of the matter said. Record high copper prices have triggered an increase in... 

Sasol says its energy business delivers satisfactory full-year performance

By: Schalk Burger     Updated 2 hours 33 minutes ago Integrated energy and chemicals multinational Sasol's energy business had delivered a satisfactory performance, in line with expectations, for the financial year ended June 30. The company on July 27 reported that its integrated value chain had benefitted from higher oil prices in the second half... 

Exxaro rolls out vaccination drive at Matla mine

By: Schalk Burger     Updated 3 hours ago Diversified miner Exxaro Resources has launched a Covid-19 vaccination rollout programme at its Matla coal mine, in Mpumalanga. The launch of the rollout programme is part of a national campaign under the auspices of Department of Health and in partnership with the Mpumalanga Department of Health... 

Sylvania’s fourth-quarter revenue falls on lower ounce production, lower basket price

By: Donna Slater     27th July 2021 Aim-listed platinum group metals (PGMs) miner Sylvania Platinum’s dump operations (SDO) produced 16 289 oz in the fourth quarter of its financial year ended June 30, which is slightly lower than the 17 420 oz produced in the third quarter. The miner notes that production was in line with its... 

Egypt, Barrick Gold sign four contracts for gold exploration

By: Reuters     Updated 7 hours ago Egypt has signed four contracts with Barrick Gold for gold exploration in the country's Eastern Desert, the ministry of petroleum and mineral resources said on Tuesday. The company, based in Toronto, will search for gold in 19 blocks in the Eastern Desert, with a total investment of $8.8-million,... 

Kola enhancement agreement on track for interim completion in September

By: Donna Slater     Updated 7 hours ago JSE- and Aim-listed potash developer Kore Potash and the Summit Consortium have signed an enhancement agreement for the Kola potash project on terms congruent with the memorandum of understanding (MoU) announced by Kore in April. Kore holds a 97% stake in the Kola and Dougou Extension (DX)... 

Critical minerals present investment opportunities

By: Tasneem Bulbulia     Updated 3 hours ago Various minerals are critical inputs in new technology and, therefore, present opportunities for investors, research geologist Byron King said during the Green Energy Investment Opportunities virtual conference on July 27. He expounded that rare-earth minerals were used to make high-tech weapons,... 

Globe looking for clarity at Kanyika

By: Esmarie Iannucci     27th July 2021 Junior Globe Metals & Mining is seeking clarification from the Malawi Ministry of Mines over the grant of a mining licence for its proposed Kanyika niobium project. The ASX-listed company on Tuesday noted that under the Mines Act, the project’s mining licence was due to be awarded on July 19,... 

Nickel nears seven-year high with metals rising on demand bets

By: Bloomberg     27th July 2021 Nickel rose for a third straight session, approaching a seven-year high on booming demand for the metal used in stainless steel and electric-vehicle batteries. Copper advanced the most in more than two months. Nickel gained as much as 2.1% to $19 780 a ton. It reached $20 110 in February, the... 

Former Wyoming Senator Mike Enzi dies after bike accident

By: Bloomberg     Updated 2 hours 16 minutes ago Former Wyoming US Senator Mike Enzi has died, according to an announcement on his official Twitter page. He was 77. The former senator had recently sustained serious injuries while riding a bicycle, his family said in a statement earlier on Monday. Enzi came to the Senate in 1997, after... 

Copper producers are paying the price of their Covid cutbacks

By: Bloomberg     Updated 3 hours ago Southern Copper missed quarterly output expectations as the world’s fifth-largest producer deals with the lingering effects of the pandemic. While producer profits are booming thanks to high prices fueled by the pandemic recovery, their operations are paying the price of Covid-fighting measures.... 

Magazine round up | 30 July 2021 

Updated 3 hours ago A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.  

Magazine round up | 30 July 2021

China avoids coal projects in Belt and Road for first time

By: Bloomberg     Updated 3 hours ago China didn’t finance any coal projects via its Belt and Road Initiative in the first half, the first time that’s happened since the plan was launched in 2013, the International Institute of Green Finance said in a report. The lack of funding from China for the dirtiest fossil fuel comes amid... 

BHP outbids Wyloo with C$325m cash offer for Noront

By: Mariaan Webb     Updated 5 hours ago Diversified major BHP on Tuesday announced a recommended cash offer for Canadian nickel developer Noront Resources, outbidding Australian mining magnate Andrew Forrest’s Wyloo Metals. The offer of C$0.55 a share valued Noront, which is active in Ontario’s Ring of Fire cluster, at C$325-million.... 

BHP outbids Wyloo with C$325m cash offer for Noront

Chaarat reports ‘healthy’ interest in financing for Kyrgyz mine

By: Mariaan Webb     Updated 5 hours ago Although the seizure of the Kumtor mine in Kyrgyzstan has delayed debt financing for the proposed Tulkubash mine, the project’s timeline has not materially shifted, Aim-quoted Chaarat confirmed on Tuesday. The company previously said the extensive media coverage of the impasse between Canada’s... 

An image of an excavator operating.

London judges re-open £5bn Brazil dam lawsuit against BHP

By: Reuters     Updated 7 hours ago London's Court of Appeal agreed on Tuesday to reopen a major lawsuit against Anglo-Australian mining giant BHP, reviving a £5-billion claim over a 2015 dam rupture that triggered Brazil's worst environmental disaster. A group of 200 000 Brazilian claimants have been pushing to resurrect the... 

London judges re-open £5bn Brazil dam lawsuit against BHP

New La Mancha fund eyes gold opportunities

By: Mariaan Webb     Updated 7 hours ago Privately owned investment group La Mancha has created a new mining fund, which would target opportunities in the “fragmented” gold mining sector, chairperson Naguib Sawaris announced on Monday. The first closing of the fund had been completed with the receipt of all La Mancha’s gold mining... 

An image showing a gold nugget.

Australia's Stanmore gets approval to develop Queensland coal project

By: Reuters     Updated 7 hours ago Australian coal producer Stanmore Resources said on Tuesday it received permits for mining leases from the Queensland state government to start work on its Isaac Downs project. The government issued leases for the project even as Australia's coal industry faced dwindling support and access to... 

Mason Graphite stock jumps on new graphene venture

By: Mariaan Webb     27th July 2021 The share price of TSX-V-listed Mason Graphite jumped 29% on Monday, as the company announced the launch of Black Swan Graphene – a new venture with UK-based speciality chemical company Thomas Swan & Co. Through Black Swan, Mason Graphite has agreed to purchase strategic assets related to... 

Vizsla takes drilling break amid Covid wave

By: Creamer Media Reporter      27th July 2021 Junior explorer and developer Vizsla Silver has suspended drilling at its Panuco project, in Mexico, for two weeks in response to an increase in Covid-19 cases in the region where it operates. “The current wave of the Covid-19 virus is the most significant experienced to date in southern... 

Osisko buys royalty on construction-ready Eldorado project

By: Creamer Media Reporter      27th July 2021 Toronto- and New York-listed Osisko Gold Royalties has entered into an agreement to purchase an up to 2.75% net smelter return (NSR) royalty on the Tocantinzinho gold project, in Brazil, for $10-million. Tocantinzinho is a permitted and construction-ready, openpit gold project operated by... 

Jervois to buy Finland cobalt refining business for $160m

By: Mariaan Webb     27th July 2021 Dual-listed Jervois on Tuesday announced that it would by Finland-based Freeport Cobalt in a $160-million deal, creating a pathway to transform the company into the second-largest producer of refined cobalt outside China. Freeport Cobalt is the cobalt refining and speciality products business... 

An image showing a refinery in Finland.
Freeport Cobalt has contractual rights to about 40% of the capacity of the Kokkola refinery (pictured), in Finland.

Andromeda's SPP heavily oversubscribed

By: Esmarie Iannucci     27th July 2021 ASX-listed Andromeda Metals has raised A$15-million in an oversubscribed share purchase plan (SPP), adding to the A$30-million raised earlier this month through a share placement to institutional and professional investors. Andromeda closed the SPP on July 20, after having received applications... 

Teck quarterly profit rises 4% on higher copper prices

By: Reuters     27th July 2021 Canadian miner Teck Resources said on Tuesday that quarterly adjusted profit rose 4% sequentially, driven by record-high copper prices. A global demand recovery from the Covid-19 pandemic, strong liquidity injections and tightened supplies have pushed copper prices to all-time highs in the... 

Teck quarterly profit rises 4% on higher copper prices

Rio Tinto cuts Kitimat smelter output to 35% amid strike

By: Mariaan Webb     27th July 2021 Diversified major Rio Tinto has reduced production at its BC Works aluminium smelter, in Kitimat, Canada, owing to a strike initiated by the Unifor Local 2301 union. The union workers began their strike at midnight on Sunday, having issued Rio Tinto a 72-hour strike notice after weeks of... 

An image of aluminium smelter works in BC, Canada.

Peru road blockades hit MMG's Las Bambas copper mine once again

By: Reuters     27th July 2021 A four-day-long blockade in Peru by protesters seeking greater benefits from exploitation of natural resources is disrupting operations of MMG's Las Bambas copper mine, one of the country's largest, the energy and mines ministry said. Residents of three communities in the Chumbivilcas province... 

Hastings adds to Yangibana reserves

By: Esmarie Iannucci     27th July 2021 Rare earths developer Hastings Technology has reported a 37% increase in the total rare earth oxide reserve estimate at its Yangibana project, in Gascoyne region. The company on Tuesday said that the ore reserve estimate at Yangibana now stands at 16.7-million tonnes, grading 0.95% total rare... 

Oil Search on track for full year targets

By: Esmarie Iannucci     27th July 2021 ASX-listed Oil Search on Tuesday said that it was on track to achieve its full year production guidance, despite a decrease in production for the second quarter. Total production for the quarter was down to 6.58-million barrels of oil equivalent, from the 6.86-million barrels of oil equivalent... 

Scoping study prices up Black Swan refurbishing

By: Esmarie Iannucci     27th July 2021 A scoping study into the refurbishment and operation of two processing plant configurations at the Black Swan nickel project, in Western Australia, has estimated a capital cost of between A$13.4-million and A$22.1-million. ASX-listed Poseidon nickel told shareholders that the scoping study... 

IGO acquires Silver Knight

By: Esmarie Iannucci     27th July 2021 ASX-listed Independence Group (IGO) has struck a A$45-million transaction agreement to acquire the Silver Knight nickel/copper/cobalt sulphide deposit, in Western Australia. IGO on Tuesday announced that it had entered into a binding agreement with entities owned and controlled by Mark Creasy to... 

Oz Minerals adjusts full year gold targets

By: Esmarie Iannucci     27th July 2021 Copper/gold miner Oz Minerals has seen both copper and gold production increase in the second quarter ended June, compared with the previous quarter, with the miner increasing full year gold production targets. Copper production in the three months to June reached 32 681 t, up from the 26 842 t... 

Image shows the Prominant Hill mine, in South Australia

Anglo Platinum evaluating multiple renewable energy forms  

By: Martin Creamer     26th July 2021 As a result its geographic distribution across South Africa, the Anglo American group is collectively evaluating options to access multiple forms of renewable energy, Anglo American Platinum (Amplats) CEO Natascha Viljoen said on Monday. The JSE-listed company has already completed the design and... 

Anglo American Platinum presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mining industry reaffirms its willingness to boost vaccination rollout

By: Donna Slater     26th July 2021 The Minerals Council South Africa and several labour unions reiterate their support for South Africa’s national vaccination programme, urging all industry employees to choose to get vaccinated as soon as they have the opportunity to do so. The labour unions include the Association of Mineworkers... 

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Magazine round up | 30 July 2021

Anglo Platinum evaluating multiple renewable energy forms

On-The-Air (23/07/2021)

Orion Minerals, SAIMM, Anglo American make headlines

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

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