R/€ = 16.65 Change: -0.03
R/$ = 16.24 Change: -0.04
Au 1794.23 $/oz Change: 5.65
Pt 958.00 $/oz Change: -4.00

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Stillwater repositioned for delivery through commodity cycle 

By: Martin Creamer     12th August 2022 Prevailing macro-environment challenges and changing palladium market conditions have prompted a strategic revision of Sibanye-Stillwater’s United States platinum group metal (PGM) operations, which in June suffered a one-in-200-year flood at Stillwater, in the Montana region. These challenges... 

Sibanye-Stillwater US presentation covered by Mining Weekly’s Martin Creamer. Video: Nicholas Boyd.

Experts unpack why there are so few listed junior miners in South Africa 

By: Marleny Arnoldi     12th August 2022 Experts in the spheres of law, mining and financial services are divided on whether South Africa’s public market has become too institutionalised, which, if so, makes access to capital for junior miners and exploration companies all the more challenging. With South Africa’s punching way above... 

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Amplats concludes R3.5bn sale of Bokoni to ARM

By: Marleny Arnoldi     12th August 2022 JSE-listed Anglo American Platinum (Amplats) and Canada-based joint venture (JV) partner and platinum miner Atlatsa Resources Corporation have completed all conditions precedent for the sale of their 49% and 51% interests, respectively, in Bokoni Platinum Mines. Bokoni is being sold to a... 

SAIMM honours Cutifani with Brigadier Stokes Memorial Award

By: Marleny Arnoldi     12th August 2022 Mining organisation the Southern African Institute of Mining and Metallurgy has honoured former Anglo American CE Mark Cutifani with the Brigadier Stokes Memorial Award for transforming one of the world’s biggest mining companies. The award is considered the highest honour to be bestowed by the... 

Former Anglo American CE Mark Cutifani
Photo by Creamer Media's Donna Slater
Former Anglo American CE Mark Cutifani

Lithium value to remain high amid accelerated demand, tight supply – Fitch Solutions 

By: Donna Slater     12th August 2022 Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) says lithium prices will remain “extremely” elevated this year and next, as accelerating demand for lithium-ion batteries and a tight upstream supply keep market supply... 

A photo of a parking space for EVs
Photo by Bloomberg
EVs will continue to be a big driver of demand for lithium

South Africa needs special unit to crack down on illegal mining, Mantashe urges

By: News24Wire      12th August 2022 Mineral Resources and Energy Minister Gwede Mantashe says the country needs a dedicated team to clamp down on illegal mining in South Africa, adding that it will take several years for the government to seal open mine shafts. Mantashe and Police Minister Bheki Cele were briefing the National... 

Special Investigating Unit raids Alexander Bay Diamonds

By: Darren Parker     12th August 2022 The Johannesburg Magistrate Court on August 10 granted the Special Investigating Unit (SIU) a warrant to conduct a search and seizure at the premises of diamond company Alexander Bay Diamonds – previously known as Scarlet Sky Investments – and related companies. SIU investigators, with the... 

FLSmidth’s acquisition of TK Mining to conclude end of August

By: Darren Parker     12th August 2022 The final closing of mining engineering, equipment and services company FLSmidth’s acquisition of multinational engineering company ThyssenKrupp’s mining business TK Mining will take place on August 31, now that all conditions and requirements for the transaction have been met. FLSmidth confirmed... 

Iron-ore dips on persistent China demand worries

By: Reuters     12th August 2022 Dalian and Singapore iron-ore futures fell on Friday, reversing gains in the previous session, as traders weighed demand prospects in top steel producer China that has been plagued with a debt crisis in its real estate industry. The most-traded iron ore, for delivery in January next year, on... 

Renewables gains momentum in mining   

12th August 2022 Mining Weekly Editor Martin Creamer unpacks the news of Royal Bafokeng Platinum’s R1.6-billion 98 MW solar power plant; Barrick's renewable energy benefits; and the growing renewables momentum.   

Renewables gains momentum in mining

UK coal mine dilemma pits energy crisis against green goals

By: Bloomberg     14th August 2022 In the far northwest corner of England, coal mining was so finished that the local museum paying tribute to the industry shut a few years ago after running into financial trouble. Yet at the dormant Haig Pit in Whitehaven, there are signs that an activity long considered dead wants to come back... 

An image of the mine shaft tower at the disused Haig Pit on the proposed site of a new coal mine, in Whitehaven, UK
The mine shaft tower at the disused Haig Pit on the proposed site of a new coal mine, in Whitehaven, UK.

Indian companies swapping dollar for Asian currencies to buy Russian coal

By: Reuters     12th August 2022  Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the US dollar and cutting the risk of breaching Western sanctions against Moscow. Reuters previously reported on a large Indian coal deal... 

Indonesia lawmakers call for tougher rules to avert another coal crisis

By: Reuters     12th August 2022 Indonesian legislators on Tuesday pressed the government to tighten rules on domestic coal sales, amid concern that miners will choose to pay fines instead of meeting a requirement to sell a quarter of their output to local power generators. The parliamentary energy committee met during recess... 

Indonesia revokes thousands of mining permits

By: Reuters     12th August 2022 Indonesia's investment minister said more than 2 000 mining permits for various minerals have been revoked amid efforts to tighten the sector's governance and plan for land redistribution. The ministry has revoked 2 065 permits covering more than 3.1-million hectares (7.6-million acres) of land... 

A $700bn fund is under pressure over plans to curb coal

By: Bloomberg     12th August 2022 South Korea’s National Pension Service, the world’s third-largest retirement fund, faces criticism over potentially weaker-than-expected plans to curb investments in coal. The fund, which manages assets worth about $700-billion, is reviewing options including a proposal that would limit holdings... 

Production costs soar at Rusal due to Russia-Ukraine conflict

By: Reuters     12th August 2022 Russian aluminium giant Rusal reported a 33% jump in first-half production costs on Friday, hit by a production halt at a refinery in Ukraine and Australia's ban on exports of alumina and bauxite to Russia. The world's largest aluminium producer outside China has been suffering these problems... 

Argonaut Gold income falls, costs rise

By: Mariaan Webb     12th August 2022 Canadian miner Argonaut Gold has reported a 68% year-on-year drop in second-quarter adjusted income, with adjusted earnings a share down 73% to $0.02 each. The miner’s production fell to 59 192 gold-equivalent ounces (GEOs), from 63 750 GEOs, while cash costs rose to $1 474/oz, from $876/oz and... 

Greenpeace targets Woodside supplies in Germany - report

By: Esmarie Iannucci     12th August 2022 Environmental group Greenpeace on Friday claimed that environmental activists in Germany had blocked a ship carrying pipelines slated for use in ASX-listed Woodside’s Scarborough offshore gas project. Greenpeace Australia Pacific head of clean transitions, Jess Panegyres, said that around 20... 

Image shows activists on boats next to a cargo vessel

Dasa operating company formed, board and management appointed

By: Creamer Media Reporter      12th August 2022 Toronto-listed Global Atomic has announced the incorporation of Société Minière DASA or Somida, the company's Niger mining subsidiary under which the Dasa uranium project will operate. Moussa Souley, the former MD of Orano's Cominak mine, has been appointed MD of  Somida and mining engineer... 

Inflation and supply chain issues affecting Electra's refinery project

By: Mariaan Webb     12th August 2022 The commissioning of Canadian battery metals company Electra’s refinery project has been pushed out to the spring of 2023, following quality control issues experienced by a major supplier. The cost of the project, located north of Toronto, has also risen from the previous estimate of $67-million... 

The Electra refinery project
The Electra refinery project

Miners face supply chain overhaul to meet US EV credit deadline

By: Reuters     12th August 2022 Miners will struggle to expand operations in the United States in record time to meet a deadline for sourcing key minerals domestically or from select countries as set out by a bill likely to be passed on Friday, companies and industry watchers said. The requirement is part of a sweeping bill... 

Miners face supply chain overhaul to meet US EV credit deadline

Brazil's Petrobras puts potash mining rights up for sale

By: Reuters     12th August 2022 Brazil's Petrobras said on Thursday it has begun the process of looking for bidders for its potassium mining rights in the Amazon basin. The asset is composed of eight mining concessions, four mining requests already granted and 22 requests for research which are still pending authorization. 

Podium completes entitlement offer

By: Esmarie Iannucci     12th August 2022 ASX-listed Podium Minerals has raised A3.9-million from a targeted A$4.6-million in non-renounceable entitlement offer, offering one new share for every 15 shares held. The company in July launched a A$6.6-million capital raise, which consisted of a A$2-million share placement and the... 

Lincoln rejects Quantum offer

By: Esmarie Iannucci     12th August 2022 Takeover target Lincoln Minerals has urged shareholders not to accept the takeover offer 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... 

Austral reports robbery in Chile

By: Esmarie Iannucci     12th August 2022 ASX- and TSX-V listed Austral Gold on Friday reported an armed robbery at its Guanaco-Amancaya mine complex, in Chile. The company told shareholders that a group of armed robbers assaulted the Guanaco-Amancaya mine complex and stole gold precipitate material equivalent to approximately 500 oz of... 

Qld survey finds sexual harrassment at mine sites

By: Esmarie Iannucci     12th August 2022 The Minerals Council of Australia (MCA) has expressed disappointment in the results of a confidential survey by workers union CFMEU, which revealed incidents of sexual harassment, assault and bullying in the Queensland mining sector. In its submission to the Queensland government’s evaluation... 

Stanmore strikes $380m deal for more coal

By: Esmarie Iannucci     12th August 2022 Coal miner Stanmore Coal has struck a $380-million deal to acquire the remaining 20% in the BHP Mitsui Coal (BMC) assets, which have been renamed Stanmore SMC. Stanmore earlier this year struck a $1.35-billion deal with diversified miner BHP and Mitsui & Co to acquire an initial 80% interest in... 

Image shows a truck with coal heaps

Calidus raises cash for lithium and gold hunt

By: Esmarie Iannucci     12th August 2022 Gold miner Calidus Resources will raise A$20-million in a share placement to fund lithium and gold exploration work, and to ramp up activities at its Warrawoona gold project. The ASX-listed miner said on Friday it had received firm commitments from professional and sophisticated investors for... 

Magazine round up | 12 August 2022 

12th August 2022 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

Magazine round up | 12 August 2022

Antofagasta's profit slumps on rising costs, Chile drought

By: Reuters     11th August 2022 Antofagasta posted a fall in half-year profit on Thursday, as higher costs, lower grades and a persistent drought in Chile hit the miner's copper production. It said it would slash its interim dividend to 9.2 cents per share from a record 23.6 cents last year, joining fellow miners including Rio... 

Antofagasta raises capital cost estimate for Centinela concentrator

By: Mariaan Webb     11th August 2022 London-listed miner Antofagasta has increased the capital cost for a new concentrator plant at its Centinela mine, in Chile, to $3.7-billion. This is a $1-billion increase on the 2015 prefeasibility study estimate of $2.7-billion and includes a new water system and design changes. The company... 

Antofagasta raises capital cost estimate for Centinela concentrator

Copper rises to 6-week high on US rate hike optimism

By: Reuters     11th August 2022 Copper prices hit a six-week high on Thursday as bets the US Federal Reserve will ease the pace of interest rate rises pushed up riskier assets and weakened the dollar, making dollar-priced metals cheaper for buyers with other currencies. US data on Wednesday suggested inflation may be peaking,... 

Congo's copper and cobalt output surges in Q1

By: Reuters     11th August 2022 Copper production in Democratic Republic of Congo, Africa's top miner of the metal, surged by 51% in the first quarter of 2022, and cobalt output rose by 37%, central bank statistics showed on Thursday. The central African country produced 572,983 tonnes of copper and 28,990 tonnes of cobalt in... 

Mining production, mineral sales decrease in June

By: Tasneem Bulbulia     11th August 2022 Mining production decreased by 8% year-on-year in June, Statistics South Africa (Stats SA) reports. The largest negative contributors were gold (-28.6% and contributing -4.7 percentage points); platinum group metals (PGMs) (-9.8% and contributing -2.4 percentage points); and coal (-6% and... 

China pledges to cut mining deaths after spate of accidents

By: Bloomberg     11th August 2022 China’s coal industry has come roaring back since last year’s supply crunch saw Beijing prioritise energy security, but a recent spate of accidents is now ringing alarm bells. Production of the fossil fuel in Asia’s largest economy is up markedly this year, but that’s come at a horrible cost.... 

Asante now a multi-asset company as Chirano sale closes

By: Mariaan Webb     11th August 2022 Vancouver-headquartered Asante Gold has transitioned into a multi-asset company with the closing of the Chirano mine, in Ghana. The company bought Chirano from fellow Kinross Gold for $225-million in cash and shares. 

Updated PureGold resource reported

By: Creamer Media Reporter      11th August 2022 TSX-V and LSE-listed Pure Gold Mining has updated the mineral resource estimate for its namesake mine near Red Lake, Ontario. PureGold has a resource of 1.65-million ounces at 7.4 g/t within 6.9-million tonnes in the indicated mineral resource category and 0.37-million ounces at 6.3 g/t in... 

Lucara starts shaft sinking at Botswana expansion project

By: Mariaan Webb     11th August 2022 Canada-based miner Lucara has started sinking the main shaft at its Karowe diamond mine expansion project, in Botswana, although it says that the transition from pre-sinking has taken longer than planned. The TSX- and LSE-listed miner says that it has identified opportunities to decrease the... 

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Stillwater repositioned for delivery through commodity cycle

On-The-Air (12/08/2022)

Renewables gains momentum in mining

Magazine round up | 12 August 2022

Environmental, social and governance elevating to safety-equalling status, mining webinar hears

Resources Watch

Royal Bafokeng looking to R1.6bn off-balance-sheet spend on 98 MW solar plant

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


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