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Thungela declares whopping R8.2bn half-year dividend on R8.9bn free cash 

By: Martin Creamer     15th August 2022 JSE- and London-listed thermal coal-mining and marketing company Thungela has approved the declaration of an interim gross ordinary cash dividend totalling R8.2-billion from retained earnings accrued during the six months to June 30, on profit for the reporting period of R9.6-billion, which is... 

Thungela CEO July Ndlovu
Thungela CEO July Ndlovu

Seriti says R892m Windlab deal is ‘significant landmark’ in transition from coal to energy business  

By: Terence Creamer     15th August 2022 Black-owned coal miner Seriti Resources says the R892-million acquisition of a majority stake in Windlab Africa’s wind and solar assets represents a significant landmark in the company’s ambition to become a diversified energy business, as well as in reducing its own carbon emissions. Through the... 

Seriti CEO Mike Teke, Seriti CFO Doug Gain and Windlab Africa’s Peter Venn speak about the creation of Seriti Green and the roll-out of a 3 GW renewables portfolio by 2030. Camera Work: Shadwyn Dickinson Editing: Nicholas Boyd. Recorded: 15.08.2022

Commission unpacks the ‘integrated systems’ approach taken with Just Transition Framework  

By: Marleny Arnoldi     15th August 2022 As Cabinet is busy approving the Just Transition Framework for publication, the Presidential Climate Commission (PCC) has unpacked a key part of what the framework will be premised on – Climate Resilience Development Pathways (CRDPs). PCC commissioner Makoma Lekalakala says South Africa’s Just... 

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... 

Eastplats lifts second-quarter revenue, production

By: Donna Slater     15th August 2022 The revenue of JSE- and TSX-listed platinum group metals (PGM) miner Eastern Platinum (Eastplats) increased by 2.5% year-on-year to $20.5-million in the second quarter, taking year-to-date revenue to $37.9-million. Mine operating income increased by 25.2% or $900 000 year-on-year to $4.2-million... 

Caracal reports continued progress at Kilimapesa project

By: Darren Parker     15th August 2022 LSE- and FSE-listed Caracal Gold has reported solid progress in the development of its Kilimapesa gold mine and processing operation, in Kenya, during the quarter ended June 30.  Exploration on the Kilimapesa Hill Deposit (KHD), which began in December last year, culminated in an updated mineral... 

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... 

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... 

Atlantic announces ASX listing offer

By: Tasneem Bulbulia     15th August 2022 Aim-listed Atlantic Lithium has announced the company’s ASX dual listing offer, which opens on August 23. The company on August 15 lodged a prospectus with the Australian Securities and Investments Commission setting out the terms of the ASX offer, which is an offer to acquire up to 22.9-million... 

Golden Rim looking for new Kouri buyer

By: Esmarie Iannucci     15th August 2022 Junior Golden Rim Resources will look for a new buyer for its Burkina Faso assets, after BAOR SARL was unable to secure financing. Golden Rim had previously struck an agreement with BAOR to divest of the Kouri gold project in a transaction worth A$22.3-million, with the consideration to be paid... 

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.... 

Bill Gates’ TerraPower raises $750m for cheaper nuclear

By: Bloomberg     15th August 2022 Bill Gates-backed TerraPower raised at least $750-million to advance efforts to develop small-scale nuclear reactors, including a major investment from South Korean conglomerate SK Group. SK will invest $250-million to add a stake in the technology developer, which aims to commercialize smaller... 

LME nickel volumes plunge with exchange still hostage to March trading fiasco

By: Reuters     15th August 2022  The volume of nickel traded on the London Metal Exchange (LME) dropped more than 40% in July as funds, consumers and producers continued to shun the market - months after trade was suspended for more than a week in March as prices dramatically spiked. Traders say many previous participants of... 

Vale fined after comptroller general's decision on Brumadinho disaster

By: Reuters     15th August 2022 Brazilian miner Vale was fined about 86.3-million reais ($16.82-million) after the country's comptroller general decided the firm did not present truthful information on the conditions of its Brumadinho tailings dam prior to a 2019 disaster. The mining giant said it did not agree with the... 

US Inflation Reduction Act to make country a leader in clean hydrogen production – Nel Hydrogen

By: Donna Slater     15th August 2022 Norway-headquartered hydrogen company Nel Hydrogen reports that the US’s Inflation Reduction Act will provide tax credits of up to $3/kg of clean hydrogen, putting the country in the lead for clean hydrogen manufacturing. Nel CEO Håkon Volldal says the move is a “fantastic development” which... 

Amaroq signs vehicle automation MoU for Greenland site

By: Creamer Media Reporter      15th August 2022 Aim- and TSX-V-listed mining company Amaroq Minerals has signed a memorandum of understanding (MoU) with ABD Solutions, a business within AB Dynamics, to investigate the potential for the introduction of vehicle autonomy systems at its Nalunaq site, in Greenland. Amaroq is planning a pilot... 

Barloworld plans gender-bond sale in first for South Africa

By: Bloomberg     15th August 2022 Barloworld, the South African car dealer and supplier of equipment to the mining industry, is marketing the nation’s first sale of debt linked to gender-diversity targets. The Johannesburg-based company is planning to raise as much as R1-billion in three-year and five-year bonds, with the rates... 

Nomad receives court approval for Sandstorm arrangement

By: Creamer Media Reporter      15th August 2022 The Superior Court of Quebec has issued a final order approving the acquisition of Nomad Royalty Company by Standstorm Gold, clearing the way for the transaction to be effective from Monday. Upon completion of the arrangement, Nomad was expected to delist its common shares from the TSX, the NYSE... 

Maverix adjusts 2022 outlook on Omolon uncertainty

By: Mariaan Webb     15th August 2022 Gold-focused royalty and streaming firm Maverix has updated its 2022 outlook to exclude production from the Omolon mine, in Russia, from its guidance. Excluding any contribution from Omolon, Maverix expects 28 000 to 31 000 gold-equivalent ounces (GEOs), compared with its previously guided 32... 

Judge reinstates Obama-era ban on coal leasing on public lands

By: Bloomberg     15th August 2022 Coal leasing is temporarily banned once again on public lands after a federal judge on Friday reinstated an Obama-era moratorium. The ruling reinstates a 2016 order by then-Interior Secretary Sally Jewell banning coal leasing on federal lands pending further environmental review because of... 

Judge reinstates Obama-era ban on coal leasing on public lands

Codelco turns to AI to squeeze out more copper from ageing mines

By: Bloomberg     15th August 2022 Codelco is using artificial intelligence to squeeze out more copper from its aging Chilean mines as suppliers of the metal look to boost efficiencies amid a dearth of new deposits and growing demand. Battling falling grades, rising costs and growing environmental scrutiny, Codelco introduced a... 

EPA publicly issues Florence draft permit

By: Mariaan Webb     15th August 2022 The US Environmental Protection Agency (EPA) has publicly issued a draft underground injection control (UIC) permit for the Florence copper project, in Arizona, kicking off a 45-day public comment period. The comment period would end on September 29, with a virtual public hearing to be held on... 

EPA publicly issues Florence draft permit

Company exploiting post-pandemic freedom with automation solutions

By: Simone Liedtke     15th August 2022 With the Covid-19 pandemic mostly a thing of the past, process automation solutions provider Ana-Digi Systems is using the new level of freedom to alleviate some of the problems caused by the worldwide shortage of electronic components by offering its various automation equipment products and... 

LS XGi PLC offering high speed processing power
LS XGi PLC offering high speed processing power

Talon and Strike take decision on new WA gas project

By: Esmarie Iannucci     15th August 2022 ASX-listed Strike Energy and Talon Energy have taken an investment decision on the A$14.4-million Walyering gas project, in the Perth Basin. The development will consist of the completion of the Walyering 5 and 6 wells, with production processed on-site through a facility designed to process 33... 

Turquoise Hill says Rio Tinto offer too low, fails to reflect Oyu Tolgoi value

By: Mariaan Webb     15th August 2022 Canada-based Turquoise Hill has rejected diversified miner Rio Tinto’s C$34-a-share cash bid for the company, concluding that the offer does not “fully and fairly” reflect the value of its majority interest in the Oyu Tolgoi project, in Mongolia. A special committee of independent directors of... 

Turquoise Hill says Rio Tinto offer too low, fails to reflect Oyu Tolgoi value

Comprehensive range of engineering solutions provided to various industries globally

By: Simone Liedtke     15th August 2022 Established in 1978, UV+IR Engineering continues to adapt its products to customers’ special requirements offering numerous design, manufacture, install and commission options for various engineering solutions. UV+IR Engineering’s host of turnkey solutions includes its mineral driers range, which... 

Comprehensive range of engineering solutions provided to various industries globally

Plans unveiled for a hydrogen hub in the NT

By: Esmarie Iannucci     15th August 2022 The Northern Territory government has inked a memorandum of understanding (MoU) with international renewable energy company Total Eren to develop a new green hydrogen project in Darwin. The MoU frames how government and Total Eren will work together to progress the Darwin H2 Hub, which has the... 

MinRes hopes for first shipments from Onslow by 2023 end

By: Esmarie Iannucci     15th August 2022 ASX-listed Mineral Resources (MinRes) has started early works at its Onslow iron-ore project, in Western Australia, in the hopes of shipping first ore by December 2023. The Onslow mine forms part of the Ashburton hub development, which is expected to cost between A$2.4-billion and A$2.55-billion... 

Allegiance secures $40m in funding for US mine

By: Esmarie Iannucci     15th August 2022 Coal miner Allegiance Coal has secured a $40-million loan and an up to 40 000 t/m offtake agreement with New York-based financier Marco. The offtake agreement will run for a period of 12 months, starting in October, and Marco will have the right to extend the contract for another year, and at... 

Beach sees revenue rise in 2022

By: Esmarie Iannucci     15th August 2022 ASX-listed Beach Energy has reported a 13% increase in revenues for the year ending June, reaching A$1.8-billion. The company reported that earnings before interest, tax, deprecation and amortisation (Ebitda) was up 17% on the previous financial year, to A$1.1-billion, while underlying net... 

Peninsula DFS proves up in Wyoming

By: Esmarie Iannucci     15th August 2022 A definitive feasibility study (DFS) into the Ross and Kendrick production areas, at the Lance uranium project, in Wyoming, has proven positive for ASX-listed Peninsula Energy. The DFS estimated that the two production areas could produce a combined two-million pounds of uranium a year at... 

West Musgrave makes final hurdle

By: Esmarie Iannucci     15th August 2022 The Western Australian government has granted copper miner Oz Minerals the third and final regulatory approval for its West Musgrave project. The ASX-listed Oz Minerals told shareholders that discussions were well advanced with the Ngaanyatjarra Council on finalising the mining agreement with... 

Image shows broken core samples

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.

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... 

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.

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... 

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

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