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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

BHP's profit soar in 2022

By: Esmarie Iannucci     Updated 4 hours ago Diversified miner BHP has reported a 34% increase in profits for the year ended June, along with record underlying earnings before interest, tax, depreciation and amortisation (Ebitda). Profit from operations reached $34.1-billion in the year ended June, and underlying EBITDA reached a record... 

Image shows BHP CEO Mike Henry
BHP CEO Mike Henry

BHP makes executive changes

By: Esmarie Iannucci     Updated 4 hours ago Major BHP has announced the appointment of its Australia president Edgar Basto as COO, effective from October 1. Basto will be replaced as Australia president by Geraldine Slattery. 

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... 

Bannerman completes NMI buy

By: Esmarie Iannucci     Updated 1 hour 41 minutes ago Uranium developer Bannerman Energy has completed the acquisition of a 41.8% shareholding in TSX-V listed critical minerals explorer Namibia Critical Metals Inc (NMI). The company in May unveiled the A$7.24-million in cash and 846 337 Bannerman shares, post a share consolidation, transaction,... 

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... 

Lundin weighs sale of $1bn copper/zinc mine in Portugal

By: Bloomberg     Updated 4 minutes ago is weighing the sale of a copper and zinc mine in Portugal that could be valued at about €1-billion, people familiar with the matter said. The Toronto-based company is speaking with potential advisers as it explores options for the Neves-Corvo mine in southern Portugal, the people said, asking... 

Oil industry gears up to tap US climate bill for carbon capture projects

By: Reuters     Updated 26 minutes ago Tax credits in the $430-billion US climate and tax bill set to be signed into law this week will kickstart carbon sequestration projects, say oil and gas proponents, offsetting startup costs for some of the anti-pollution initiatives. Carbon capture and storage hubs that take gases from... 

More flooding in Mexican mine frustrates rescue effort for 10 miners

By: Reuters     Updated 28 minutes ago Mexico's efforts to save 10 miners who became trapped in a flooded coal mine 13 days ago hit another setback as underground water levels have surged higher, officials said on Monday. The miners became confined underground at the Pinabete mine in the border state of Coahuila on August 3 when... 

Mallee urges uptake of share placement

By: Esmarie Iannucci     Updated 51 minutes ago Junior nickel developer Mallee Resources has prompted existing shareholders and investors to partaking it its capital raise, which will close on August 19. The company was hoping to raise between A$20-million and A$70-million through a share issue, priced at 70c a share, to fund the restart of... 

Fire halts Koolan Island processing

By: Esmarie Iannucci     Updated 52 minutes ago A fire at the Koolan Island crushing plant has prompted ASX-listed Mount Gibson Iron to temporarily suspend processing activities at the site, however, the company said on Tuesday that mining of high-grade iron-ore from the Koolan main pit continued as planned. The fire occurred on August 12 in... 

Metgasco dips its toe into hydrogen

By: Esmarie Iannucci     Updated 1 hour 39 minutes ago ASX-listed Metgasco on Tuesday unveiled a staged acquisition of renewable hydrogen and energy developer Patriot Hydrogen. Metgasco told shareholders that the acquisition formed part of the company’s diversification strategy, delivering a sustainable, commercially attractive and carbon net zero... 

BHP's economic analysis prepares for US recession

By: Esmarie Iannucci     Updated 2 hours 47 minutes ago China is expected to remain the mainstay of diversified miner BHP’s future plans, but the miner has raised concerns around a possible recession in the US and other developed markets within the shorter-term. BHP’s VP for market analysis and economics, Dr Huw McKay said that a recession in the US... 

Rio 'disappointed' in Turquoise Hill decision

By: Esmarie Iannucci     Updated 4 hours ago Major Rio Tinto said it was ‘disappointed’ by the decision of takeover target Turquoise Hill’s Special Committee to reject its C$34 a share cash bid. The Special Committee this week said that Rio’s bid for the company did not ‘fully and fairly’ reflect the value of its majority interest in the... 

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

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