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Global economic recovery drives first-quarter platinum demand higher 

By: Simone Liedtke     Updated 5 hours ago As the global economy continued to recover, boosted by widespread stimulus measures, demand for platinum increased by 26% or about 405 000 oz year-on-year to more than 1.9-million ounces in the first quarter, the World Platinum Investment Council (WPIC) notes in its latest ‘Platinum Quarterly’... 

WPIC research director Trevor Raymond gives Mining Weekly some more insight into the WPIC's latest 'Platinum Quarterly' report. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

Eskom approves higher Duvha coal price, facilitating South32 mine sale to Seriti

By: Terence Creamer     Updated 4 hours ago State-owned electricity producer Eskom confirmed on Monday that the Duvha coal supply agreement (CSA) had been increased to facilitate the sale of South32’s majority shareholding in South32 SA Energy Coal Holdings (SAEC) to black-owned resources group Seriti. The utility also announced that the... 

Eskom approves higher Duvha coal price, facilitating South32 mine sale to Seriti
Photo by Creamer Media Chief Photographer Donna Slater
Eskom CEO Andre de Ruyter

PPC Lime’s new owners to focus on developing markets, community wellbeing

By: Marleny Arnoldi     Updated 5 hours ago The new owner of PPC Lime, Kgatelopele Lime, will focus on developing new markets for its product and expanding its customer base. Kgatelopele is a consortium made up of mineral resources trader IMR Resources South Africa, mining-focused investment holding companies Kolobe Nala Investment Lime... 

PPC Lime’s new owners to focus on developing markets, community wellbeing
PPC Lime manufacturing facility, in the Northern Cape

Ivanhoe, DRC utility partner to deliver hydropower for Kamoa mine

By: Creamer Media Reporter      Updated 3 hours ago To support the continued successful performance of the Kamoa mining complex, Ivanhoe Mines Energy DRC, a sister company of Kamoa Copper, has announced the signing of a memorandum of understanding to establish a public-private partnership (PPP) with the Democratic Republic of the Congo's (DRC’s)... 

The world economy is suddenly running low on everything

By: Bloomberg     Updated 4 hours ago A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously stocking up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive... 

Predictive sets A$26.5m raising target

By: Esmarie Iannucci     Updated 6 hours ago ASX-listed Predictive Discovery will raise A$26.5-million in a share placement to institutional, sophisticated and professional investors to fund exploration work at its Bankan gold project, in Guinea. The share placement will be priced at 8c a share, representing an 8.38% discount to... 

Iron-ore rebounds as China mills churn out steel at record pace

By: Bloomberg     Updated 4 hours ago Iron-ore futures climbed back above $200 a ton as soaring steel production in China showed there’s no sign of the industry cooling despite government attempts to rein in output from last year’s record of over one-billion tons. Crude steel output in April rose to 97.9-million tons to hit monthly... 

Weekly Coal Index Report

Updated 4 minutes ago Another wild week as the coal market continues to soar. Chinese domestic prices rallied and then softened significantly, although it was FOB Newcastle prices that were most affected by the turnaround. Physical Richards Bay continues to trade robustly as demand remains strong. A little rand... 

Copper resumes gains as supply risks, China demand buoy outlook

By: Reuters     Updated 58 minutes ago Copper rebounded after its first weekly loss in six on concerns about disruptions to supply in Chile and as Chinese demand showed signs of picking up. Workers at BHP Group’s remote operations center in Santiago rejected the company’s final wage offer, with almost 97% of the union’s members... 

Copper resumes gains as supply risks, China demand buoy outlook

Nornickel pumps out diesel from Arctic fuel tank after small leak

By: Reuters     Updated 1 hour 1 minute ago Russia's Nornickel is pumping out diesel from one of its fuel tanks in the Arctic following a leak of 20 litres, the company said Monday, adding that there was no damage to the environment. A year ago, 21 000 t of oil products leaked from a cracked tank at Nornickel's power plant into the Arctic... 

China's Ganfeng Lithium considers Argentine battery plant

By: Reuters     Updated 2 hours 39 minutes ago China's Ganfeng Lithium, one of the world's biggest lithium producers, said on Monday it had signed an initial deal to explore setting up a plant to make lithium batteries in Argentina's northwestern Jujuy province. Lithium is a key ingredient in rechargeable batteries for electric vehicles.... 

Marathon and Miawpukek First Nation sign MoU

By: Creamer Media Reporter      Updated 3 hours ago Toronto-listed Marathon Gold has signed a memorandum of understanding (MoU) with the Miawpukek First Nation, relating to the environmental assessment and development of the Valentine gold project, in central Newfoundland. Signed by Marathon president Matt Manson and Miawpukek chief Mi’sel Joe,... 

Antipa adds to Calibre resource

By: Esmarie Iannucci     Updated 3 hours ago Junior Antipa Minerals has reported a 62% increase in the mineral resource estimate for the Cailbre gold deposit, in Western Australia. The deposit is now estimated to host some 2.1-million ounces of gold, 103 700 t of copper and 1.3-million ounces of silver, at 0.72 g/t gold, with the new... 

Centerra initiates arbitration against Kyrgyzstan

By: Creamer Media Reporter      Updated 3 hours ago Canadian miner Centerra Gold on Sunday announced that it had initiated arbitration against Kyrgyzstan to enforce its rights under investment agreements with the government. The company is seeking to prevent the government from taking further steps to implement recently adopted legislation or to... 

Centerra initiates arbitration against Kyrgyzstan
The Kumtor mine, in Kyrgyzstan

Local consortium proposes to develop Pakistan copper and gold mine after arbitration case

By: Reuters     Updated 5 hours ago A local consortium has made a proposal to develop a major copper and gold mine in southwest Pakistan after a court decision blocked the mine's development by a joint venture between Chile’s Antofagasta and Canada’s Barrick Gold. Pakistan's Supreme Court blocked the joint venture, Tethyan Copper,... 

Peru Presidential candidate outlines new taxes, royalties for miners

By: Reuters     Updated 5 hours ago Peru's socialist Presidential candidate Pedro Castillo said on Sunday night he would raise taxes and royalties on Peru's key mining sector and renegotiate the tax contracts of large companies if elected to high office next month. Castillo, a teacher and trade union leader who was politically... 

Canada potash project may cost BHP growth elsewhere, say investors

By: Reuters     Updated 5 hours ago BHP Group is under pressure from Canada to greenlight a giant potash project when it makes a final investment decision by mid-year but some investors said the world's biggest miner may obtain better returns by ploughing the funds elsewhere. The fertiliser ingredient will be in oversupply over... 

Canada potash project may cost BHP growth elsewhere, say investors

Karouni facing care and maintenance

By: Esmarie Iannucci     Updated 5 hours ago Gold miner Troy Resources’ share price took a tumble on Monday as the company announced that production from its Smarts underground mine at its Karouni gold project, in Guyana, would be delayed. Furthermore, the miner told shareholders that ore sources at both its Hicks 4 openpit and the... 

Karouni facing care and maintenance

Govt steps in to help save refineries

By: Esmarie Iannucci     Updated 6 hours ago The federal government has introduced a fuel security package to help secure Australia’s recovery from the Covid crisis and to help secure the country’s sovereign fuel stocks, locking in jobs and protecting families and businesses from higher fuel prices. Prime Minister Scott Morrison said the... 

Govt steps in to help save refineries

South32's coal deal declared unconditional

By: Esmarie Iannucci     Updated 6 hours ago Diversified miner South32’s sale of its South African Energy Coal division has been declared unconditional, after all conditions precedent to the transaction were satisfied. The miner in November 2019 struck an agreement with a wholly-owned subsidiary of Seriti Resources Holdings, to divest of... 

Matador starts US share trading

By: Esmarie Iannucci     Updated 6 hours ago Junior gold explorer Matador Mining has started share trading on the US Over the Counter (OTC) market under the ticket MZZMF. The company said on Monday that trading on the OTC imposed no additional compliance or regulatory standards over the existing requirements for the ASX listing. 

Ethiopia cancels 27 idle mining licences in push for development

By: Reuters     14th May 2021 Ethiopia has cancelled 27 idle mining licences and sent warnings to three companies, the mines ministry said on Friday, as the government looks to spur production. Ethiopia has now cancelled 90 mining licences, including 63 it revoked in December. 

New technologies transforming mining, metals industry – ICMM 

By: Martin Creamer     14th May 2021 New technologies are transforming the mining and metals industry, making it cleaner and safer, says the International Council on Mining and Metals (ICMM), which is progressing an 'innovation for cleaner, safer vehicles' initiative. The initiative brings together 28 of the world’s leading mining... 

New technologies transforming mining, metals industry – ICMM
An innovation for cleaner, safer vehicles initiative has been introduced.

Deep-South appoints Knight Piésold for Haib scoping studies, assessments

By: Donna Slater     14th May 2021 TSX-V-listed minerals explorer and developer Deep-South Resources has appointed engineering and environmental consulting firm Knight Piésold Consulting to conduct scoping studies and assessments on the Haib copper project, in Namibia. Knight Piésold, with an office in Namibia since 2008, has... 

Drill results confirm high-grade tin mineralisation at Alphamin’s DRC project

By: Simone Liedtke     14th May 2021 Initial assay results and an exploration update on tin miner Alphamin Resources’ Mpama South exploration drilling programme has confirmed high-grade tin mineralisation at the project in the Democratic Republic of the Congo. So far, 8 700 m of the planned 16 000 m diamond drill programme has been... 

Bushveld reports lower first-quarter vanadium output; working to improve Vametco’s performance

By: Donna Slater     14th May 2021 Aim-listed integrated primary vanadium producer and energy storage solutions provider Bushveld Minerals produced 688-million tonnes of vanadium in the first quarter. This was lower than the 880-million tonnes produced in the corresponding period of 2020 as a result of a 35-day planned... 

Bushveld reports lower first-quarter vanadium output; working to improve Vametco’s performance
Bushveld Minerals' Vametco plans

Top copper producers’ output to bounce back this year, forecasts GlobalData

By: Donna Slater     14th May 2021 Production from the world’s top ten copper mining companies decreased in 2020, albeit by a marginal 0.2% to 11.76-million tonnes, with the key disruptors being reduced operational workforces as a result of Covid-19 measures, lower ore grades and production halts owing to maintenance, data and... 

Eastplats’ first-quarter loss narrows to under $1m

By: Marleny Arnoldi     14th May 2021 JSE-listed Eastern Platinum (Eastplats) has narrowed its net loss attributable to shareholders to $900 000, or $0.01 apiece, in the first quarter of the year. This compares with an $8.2-million, or $0.09 apiece, loss attributable to shareholders in the first quarter of 2020.  

Upstream Petroleum Bill nears finalisation

By: Marleny Arnoldi     14th May 2021 Law firm Cliffe Dekker Hofmeyr (CDH) expects the updated iteration of the Upstream Petroleum Resources Development Bill to be gazetted by June. This follows after Cabinet approved the submission of the draft Bill to Parliament this week.  

Russia’s biggest cut diamond fetches $14.1m at Christie’s

By: Bloomberg     14th May 2021 A flawless 100.94-ct colorless diamond that’s considered to be the biggest polished gem from Russia sold for 12.84-million Swiss francs ($14.1-million) at Christie’s in Geneva. The Spectacle, which was cut from a rough stone discovered by Alrosa at an alluvial mine in Russia’s Far East in 2016,... 

Einhorn touts Teck Resources with copper rally enduring

By: Bloomberg     14th May 2021 Greenlight Capital’s David Einhorn said he recommend shares of Canadian miner Teck Resources amid strong demand for copper and other commodities. The pipeline of potential new copper capacity is low, and it takes a long time to create new mines, the hedge fund manager said Wednesday at the Sohn... 

Einhorn touts Teck Resources with copper rally enduring

Biggest lithium miner gears up to tap major lode from old cars

By: Bloomberg     14th May 2021 The world’s biggest lithium miner wants to extract more of the battery metal from old cars as demand surges and aging electric vehicles are traded in. Albemarle is making investments and partnering with automotive equipment manufacturers on the recycling effort, which it calls “critical” to its... 

Rio Tinto may lose black partners needed to meet South Africa law

By: Bloomberg     14th May 2021 Rio Tinto Group’s South African operation is facing the loss of a large bloc of Black investors, a move that would leave it below the legal minimum for Black ownership, two people familiar with the situation said. The main investors in Blue Horison Investments, which holds 24% of Rio-controlled... 

Rio Tinto may lose black partners needed to meet South Africa law

Mineworker succumbs after fall of ground at Marula

By: Marleny Arnoldi     14th May 2021 The Association of Mineworkers and Construction Union (AMCU) has advised of a fatality at Impala Platinum’s Marula mine, in Limpopo, following a fall-of-ground incident on May 13. The union reports that the mineworker was busy in the panel in the early hours of the morning when the fall of... 

Tshisekedi visits Glencore’s Kamoto project in recognition of investments made

By: Donna Slater     14th May 2021 Democratic Republic of the Congo (DRC) President Felix Tshisekedi visited the operations of Glencore’s Kamoto Copper Company (KCC) in Kolwezi, on May 13, in recognition of the miner’s near $8-billion investment in the country. KCC is a joint venture (JV) between Glencore and DRC commodity... 

Tshisekedi visits Glencore’s Kamoto project in recognition of investments made
Glencore CEO Ivan Glasenberg

Harte Gold requires additional funding, cuts guidance

By: Mariaan Webb     14th May 2021 Canadian bullion junior Harte Gold on Thursday lowered its production guidance and hiked its cost estimates for 2021, stating that quarterly growth would occur at a lower rate than what was previously planned for the year. The company, which operates the Sugar Zone mine, in Ontario, has deferred... 

Marathon raises C$50m for Newfoundland gold project

By: Creamer Media Reporter      14th May 2021 Toronto-listed Marathon Gold on Thursday announced a nonbrokered C$50-million private placement financing to support the continued advancement of its exploration and development activities at the Valentine project, in central Newfoundland. The private placement financing consists of 14 285 714... 

Iamgold confirms Westwood restart for H2

By: Mariaan Webb     14th May 2021 The Westwood gold mine, in Quebec, would resume operations in the second half of the year, owner Iamgold confirmed on Thursday. The company last month started recalling its employees and said that it would focus on training and rehabilitation work for the remainder of the quarter. When... 

Iamgold confirms Westwood restart for H2

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Global economic recovery drives first-quarter platinum demand higher

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Magazine round up | 14 May 2021

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