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Pt 938.50 $/oz Change: -25.50
 
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Things looking interesting for platinum despite surplus 

By: Martin Creamer     16th May 2022 What the World Platinum Investment Council (WPIC) is forecasting for 2022 is a reduced but still large platinum surplus of 627 000 oz. But this surplus is extremely vulnerable to the issues the WPIC thinks may play out, particularly: 

World Platinum Investment Council Research Director interviewed by Mining Weekly's Martin Creamer. Video Darlene Creamer.

South African coal consumers face tough decisions as miners prioritise exports over domestic offtakers – Jones 

By: Donna Slater     13th May 2022 A potential food crisis may be brewing in South Africa as domestic coal consumers face increasing difficulty in securing coal supplies at a fair price to fire their processing plants, says commodity insights and marketplace company African Source Markets CEO Bevan Jones. He tells Mining Weekly... 

An image of African Source Markets CEO Bevan Jones
African Source Markets CEO Bevan Jones

Trident’s lithium-powered locomotives engendering benefits for mining operations  

By: Tasneem Bulbulia     13th May 2022 Original-equipment manufacturer Trident SA has diversified its offering and is now providing lithium-powered batteries for locomotives used by global mining operations. During a visit to the company’s site in Germiston, Gauteng, where the locomotives and battery packs are assembled, Trident... 

An image showing a Trident SA lithium battery pack for a mining locomotive
Photo by Creamer Media's Tasneem Bulbulia
Trident SA lithium battery pack for locomotive

Godongwana says work under way to unblock R54bn embedded generation pipeline 

By: Terence Creamer     13th May 2022 Finance Minister Enoch Godongwana reports that work is under way with the private sector to unblock the remaining obstacles to investment of about R54-billion in embedded generation projects. Speaking during a presentation of Operation Vulindlela’s first quarter progress report, Godongwana said... 

Finance Minister Enoch Godongwana
Finance Minister Enoch Godongwana

Relaxation of PFMA rules empowers Eskom to engage directly with OEMs, maintenance suppliers

By: Terence Creamer     13th May 2022 State-owned utility Eskom says the National Treasury’s relaxation of some procurement and supply chain management rules and processes contained in the Public Finance Management Act (PFMA) will assist it in speeding up critical and urgent procurement. The amendment, which is outlined in an... 

Eskom CEO André de Ruyter
Photo by Creamer Media's Donna Slater
Eskom CEO André de Ruyter

Trevali says caught unawares by downpour that flooded Burkina mine

By: Reuters     Updated 1 hour 18 minutes ago Executives at Canada-based Trevali Mining said the company was caught unawares by a torrential downpour during the dry season last month in Burkina Faso that left eight men trapped underground in its Perkoa zinc mine. Rescue efforts are continuing since the flood on April 16, but there has been... 

Trevali VP Operations Hein Frey at the mine site in Burkina Faso, where rescue operations are under way.
Trevali VP Operations Hein Frey at the mine site in Burkina Faso, where rescue operations are under way.

LBMA, WGC advance pilot of Gold Bar Integrity initiative

By: Marleny Arnoldi     13th May 2022 The London Bullion Market Association (LBMA) and the World Gold Council (WGC) have selected two vendors, blockchain technology start-up companies Axedras and Peer Ledger, to participate in a pilot phase of the organisations’ Gold Bar Integrity initiative. The initiative is aimed at digitally... 

Investors are rushing back into Africa’s copper country

By: Bloomberg     13th May 2022 Mining investors are stampeding back into a region many had seemed determined to leave. Straddling the border of Zambia and the Democratic Republic of Congo, a vast forested area roughly the size of Portugal contains one of the world’s richest caches of minerals: copper for wires and cables, and... 

Investors are rushing back into Africa’s copper country

Global diamond trade fractures under the weight of Russia sanctions

By: Bloomberg     13th May 2022 Russia’s invasion of Ukraine is fracturing a billion-dollar trade that spans the permafrost-laden diamond mines of Siberia, secretive trade houses in Antwerp, dusty polishing powerhouses in India and New York’s glittering designer jewellery stores. Russian mining giant Alrosa supplies about a... 

Alphamin reports 32% q/q increase in Ebitda

By: Darren Parker     13th May 2022 JSE-listed tin miner Alphamin Resources has reported $98.1-million in earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter ended March. This reflected a 32% increase from the previous quarter. 

Eastplats records strong first quarter

By: Tasneem Bulbulia     13th May 2022 Dual-listed Eastern Platinum’s (Eastplats) revenue for the three months ended March 31 increased by 4.3% year-on-year to $17.4-million. The increase in revenue was primarily owing to an increase in platinum group metal (PGM) sales for the period. 

Bauba reports R52.3m loss for eight-month period

By: Darren Parker     13th May 2022 JSE-listed Bauba Resources has reported total comprehensive losses of R52.3-million for the eight-month period ended February 28, compared with a loss of R31.4-million in the previous financial year. With effect from January 29, Bauba changed its financial year-end from June 30 to February 28 to... 

De Beers in talks with Musina municipality to resolve water issues for the community

By: Darren Parker     13th May 2022 Following protests over water shortages in Musina, Limpopo, over the past few days, a meeting was convened between the Musina local municipality, the Vhembe district municipality and diamond miner De Beers’ Venetia mine to find ways to assist the municipalities in efficiently and safely resolving... 

Hitachi Energy selected for haul truck electrification solution

By: Tasneem Bulbulia     13th May 2022 Global technology company Hitachi Energy has been selected as a technology vendor in the Charge On Innovation Challenge. Founded by BHP, Rio Tinto and Vale, together with multiple industry patrons, the initiative sees the world’s mining industry unite to solve one of the biggest challenges in... 

2022 Mining Indaba headlines   

13th May 2022 Mining Weekly Editor Martin Creamer attended the Investing in African Mining Indaba, in Cape Town, this week and unpacks the top stories coming out of the Indaba. 

2022 Mining Indaba headlines

Troy signs away some mining rights in Brazil

By: Esmarie Iannucci     Updated 11 minutes ago Gold miner Troy Resources has struck a $4-million deal for the lease and assignment of non-core mining rights in Brazil. The company on Monday announced that it had solidified a letter of intent inked in April, allowing Brazilian company PST Empreendimentos e Participacoes over certain mining... 

US risks watching global energy race from sidelines, says association

By: Mariaan Webb     Updated 14 minutes ago The National Mining Association CEO Rich Nolan has slammed the federal appeals court’s decision to block the Rosemont copper mining project, in Arizona, warning that “flawed rulings” will ensure the US watches the global energy race from the sidelines. He was responding to last week’s split... 

Woodside and BHP merger gains steam

By: Esmarie Iannucci     Updated 52 minutes ago Oil and gas major Woodside has cleared another hurdle in its merger with major BHP’s oil and gas portfolio, with the National Offshore Petroleum Titles Administrator approving the merger under the Offshore Petroleum and Greenhouse Gas Storage Act. Woodside shareholder approval is now the only... 

Nickel Mines starts commissioning of fourth line

By: Esmarie Iannucci     Updated 56 minutes ago ASX-listed Nickel Mines has started commissioning the fourth rotary kiln electric furnace (RKEF) line at its 80%-held Angel Nickel project, in Indonesia. Each of Angel’s RKEF lines has a nameplate capacity of 9 000 t/y of nickel metal, equating to 750 t of nickel metal per month. 

WA approves A$332m port spend

By: Esmarie Iannucci     Updated 1 hour 7 minutes ago The Western Australian government will invest some A$332-million into the Mid West Ports Authority's Port Maximisation project, to meet increased demand for Geraldton Port services. The Port Maximisation project will be delivered over four years, facilitating growth by allowing Mid West Ports... 

FFI firms up US hydrogen plans

By: Esmarie Iannucci     Updated 1 hour 9 minutes ago The green energy arm of iron-ore major Fortescue Metals, Fortescue Future Industries (FFI) on Monday announced that it would evaluate the feasibility of converting the former Centralia coal mine, the US, into a green hydrogen production facility. The green energy company has entered into a... 

BHP unveils new concentrator at Spence

By: Esmarie Iannucci     Updated 1 hour 12 minutes ago Major BHP has cut the ribbon at the new $2.46-billion copper concentrator at its Spence operations, in Chile, which will allow the operation life to extend by some 50 years. BHP told shareholders that the project supported the company’s intention to continue growing in Chile while strengthening... 

An image of the Spence project in Chile

Miners welcome green-tape cuts in WA

By: Esmarie Iannucci     Updated 1 hour 14 minutes ago The resources sector has welcomed the Western Australian government’s commitment to reducing the reporting burden on industry, with Environment Minister Reece Whitby announcing that environmental reporting requirements would be stopped or halved for more than 60% of low to medium-risk industry... 

Musk considers Indonesia trip to explore possible investments

By: Bloomberg     Updated 1 hour 35 minutes ago Elon Musk, the world’s richest person, is considering a visit to Indonesia to explore investment opportunities in the resource-rich Southeast Asia country. The chief executive officer of Tesla and SpaceX met with Indonesian President Joko Widodo at the rocket manufacturer’s site in Boca Chica,... 

Chile copper mines dodge radical changes as convention vote ends

By: Bloomberg     Updated 1 hour 43 minutes ago Major copper producers from BHP Group to Freeport-McMoRan will likely avoid drastic changes in the way they do business in Chile as writers of a new constitution wrapped up deliberations on mining proposals. In a vote on the Constitutional Convention floor on Saturday, a plan to replace the... 

Chile copper mines dodge radical changes as convention vote ends

South Africa must cut red tape to close energy gap, ANC suggests

By: Bloomberg     13th May 2022 South Africa must accelerate plans to generate more electricity itself, buy more energy from private producers and make it easier for power-hungry mining companies to build their own plants, according to a draft economic policy document compiled by the nation’s governing party. Projects outlined... 

Copper wavers near $9 000 after fear-filled week for metals

By: Bloomberg     13th May 2022 Copper steadied and aluminum rose after a turbulent week for metals dominated by growing concerns over the state of the global economy. While metals markets were calmer Friday, prices have endured a dismal few days on fears about monetary tightening as well as demand from top consumer China.... 

Positive PEA for New Brunswick manganese project

By: Creamer Media Reporter      13th May 2022 TSX-V-listed Manganese X has announced positive results from an independent preliminary economic assessment (PEA) for its Battery Hill project, near Woodstock, New Brunswick. The project is set to produce battery-grade high-purity manganese sulphate (HPMSM). The study determined that Battery... 

Appeals court also blocks proposed Arizona copper mine

By: Mariaan Webb     13th May 2022 The US Court of Appeals for the Ninth Circuit on Thursday declined to overturn a 2019 decision that blocked the development of Hudbay Minerals’ planned Rosemont openpit copper mine, in Arizona. In a split decision, the court agreed with the District Court of Arizona’s ruling that the US Forest... 

Magazine round up | 13 May 2022 

13th May 2022 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

Magazine round up | 13 May 2022

Teck homes in on zinc growth options in the Americas and Australia

By: Mariaan Webb     13th May 2022 Diversified miner Teck Resources is taking a closer look at its zinc development assets in the Americas and Australia, including five substantial resources. The company will leverage the technical and commercial expertise of its ‘Project Satellite’ team, which has successfully advanced and grown... 

Three of the zinc satellite projects are in Alaska, where Teck operates the Red Dog mine (pictured).
Three of the zinc satellite projects are in Alaska, where Teck operates the Red Dog mine (pictured).

Appea welcomes new CEO

By: Esmarie Iannucci     13th May 2022 The Australian Petroleum Production & Exploration Association (Appea) has announced the appointment of Samantha McCulloch as CEO. McCulloch will join Appea from the International Energy Agency, having led the IEA Carbon Capture, Utilisation and Storage (CCUS) Unit since 2018.  

Neometals JV signs deal with Mercedes-Benz

By: Esmarie Iannucci     13th May 2022 ASX-listed Neometals on Friday announced that its joint venture with SMS Group, Primobius, had inked a conditional, binding agreement with Mercedes-Benz subsidiary LICULAR to develop a battery recycling plant. Mercedes-Benz in March tapped Primobius as its technology partner for the design and... 

Peru community wants its land back, threatening Chinese copper mine

By: Reuters     13th May 2022 The community of Fuerabamba in the Andean region of Peru was resettled eight years ago to make way for a giant Chinese-owned copper mine, in a $1.2-billion scheme billed as a model solution to protests dogging the South American nation's mining sector. Now the community wants the land back. In... 

Nornickel is first Russian firm to get OK to keep listing abroad

By: Reuters     13th May 2022 Metals giant Nornickel has become the first Russian company to be granted permission by a government commission to keep its listing abroad - for one year for now. Nornickel, the world's largest producer of palladium and refined nickel, and other large Russia-registered firms have sought... 

Billionaire eyes Washington’s last coal plant for green hydrogen

By: Bloomberg     13th May 2022 The clean energy unit of Australia’s Fortescue Metals Group is considering building a green hydrogen facility near Washington State’s last operating coal-fired power station. Fortescue Future Industries entered into a binding exclusivity agreement with an industrial park near TransAlta’s... 

BHP targets Chile expansion under 'right conditions' - CEO

By: Reuters     13th May 2022 Global mining giant BHP Group is keen to expand operations in Chile, the world's top copper producer, under "appropriate conditions," CEO Mike Henry said on Thursday. The mining sector in the Andean nation faces uncertainty as the country drafts a new constitution, which could lead to tighter... 

BHP CEO Mike Henry
BHP CEO Mike Henry

BHP plans to double spending with Indigenous vendors

By: Esmarie Iannucci     13th May 2022 Diversified miner BHP’s iron-ore division is aiming to more than double its spend with Indigenous vendors to more than A$300-million by the end of the 2024 financial year. BHP asset president Western Australian iron-ore Brandon Craig said BHP wanted to do much more to build sustainable,... 

Image shows iron-ore operations in the Pilbara

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Things looking interesting for platinum despite surplus

On-The-Air (13/05/2022)

Magazine round up | 13 May 2022

2022 Mining Indaba headlines

Academy’s ‘vibrant learnership’ advances training in critical aspects

De Beers an industry leader in innovation, technology

Probe Mining Group leading the way for integrated solutions for productivity, safety

B&E shares mines’ load, risk with broad offering

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