R/€ = 17.27 Change: 0.01
R/$ = 15.28 Change: -0.02
Au 1837.63 $/oz Change: -3.67
Pt 1025.00 $/oz Change: -11.50

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Many seeing platinum as hard asset, potential inflation hedge – WPIC  

By: Martin Creamer     24th January 2022 There are a lot more people looking at platinum as a hard asset and potential hedge against inflation, World Platinum Investment Council director of research Trevor Raymond said on Monday. Responding to Mining Weekly’s questions on what has been driving the platinum up over the last two weeks,... 

WPIC Director of Research Trevor Raymond interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Australian miners continue in Burkina Faso, despite unrest

By: Esmarie Iannucci     Updated 4 hours ago Australian companies operating in Burkina Faso are continuing to operate unabated, despite political unrest. Reports have emerged that the military had seized power and had overthrown President Roch Kaboré. 

CoE to vote against mining company chairs over dam safety

By: Reuters     Updated 2 hours 50 minutes ago The Church of England (CoE) Pensions Board said on Tuesday it planned to vote against the re-election of company chairs of 183 mining companies unless they sign up to a new global standard on managing mine waste. Created by a 100-strong group of investors representing $20-trillion in assets in... 

Sibanye backs out of Brazilian base metal mines acquisition 

By: Marleny Arnoldi     24th January 2022 JSE- and NYSE-listed Sibanye-Stillwater has decided to terminate its acquisition of the Santa Rita nickel and Serrote copper mines, both in Brazil, from Appian Capital for $1-billion and a 5% net smelter royalty over future production. Sibanye intended to acquire operating companies Atlantic... 

Santa Rita mine, in Brazil
Santa Rita mine, in Brazil

BlueRock sells 6.8ct diamond for $63 186

By: Tasneem Bulbulia     Updated 1 hour 29 minutes ago Aim-listed BlueRock Diamonds has sold a 6.8 ct diamond recovered from its Kareevlei mine in South Africa for $63 186 in its January sale. "We recently announced we had two potentially high-value stones to sell in the January tender and, although one fell under our $50 000 disclosure threshold, we... 

McKinsey pegs the price tag of a livable climate at $9.2tr a year

By: Bloomberg     Updated 2 hours 36 minutes ago A new analysis from McKinsey & Co. estimates that the investment, in new infrastructure and systems, needed to meet international climate goals could be $9.2-trillion a year through 2050. That’s at least $3.5-trillion more a year than the world is currently laying out for both low-carbon and... 

Akobo Minerals appoints head of ESG developments

By: Tasneem Bulbulia     Updated 1 hour 30 minutes ago Scandinavian-based Akobo Minerals, which has gold exploration assets in Ethiopia, has appointed Dr Cathryn MacCallum as head of environmental, social and governance (ESG) to advance the company’s ESG programme. She will take up the post on February 1 as part of the company’s management team. 

Kamoa-Kakula nears Phase 2 completion, Ivanhoe bids Farren farewell 

By: Donna Slater     24th January 2022 TSX-listed Ivanhoe Mines reports that the 3.8-million-tonne-a-year Phase 2 concentrator plant at its 39.6%-owned Kamoa-Kakula project in the Democratic Republic of Congo is expected to be 93% complete by January 31, with hot commissioning of the concentrator on track to start in April. Ivanhoe... 

An image of Kamoa Kakula's Phase 2 plant
Kamoa Kakula's Phase 2 concentrator plant

Endeavour achieves record output of 1.53 Moz

By: Marleny Arnoldi     24th January 2022 London-listed Endeavour Mining has exceeded its production guidance for the 2021 financial year and set a new output record at 1.53-million ounces. The company also comfortably met its all-in sustaining cost (AISC) guidance at $880/oz and has adjusted its expectation for AISC for this year to... 

Shanta chases higher output in 2022

By: Marleny Arnoldi     24th January 2022 Aim-listed Shanta Gold has announced a higher production guidance at between 68 000 oz and 76 000 oz for this year. The company expects to produce more ounces in the second half of the year, as mining of the high-grade Bauhinia Creek crown pillar, at the New Luika gold mine in Tanzania, starts.  

New high-grade lode discovery at Kibali excites Barrick CEO

By: Darren Parker     24th January 2022 Gold miner Barrick Gold revealed at a media briefing in Kinshasha, in the Democratic Republic of Congo (DRC), on January 21, that underground drilling at the Kibali gold mine’s KCD orebody was defining a new high-grade lode above the base of the existing shaft infrastructure.  Barrick president... 

A photo of Kibali gold mine
Kibali gold mine in the DRC

South32 warns of global Covid impacts

By: Esmarie Iannucci     24th January 2022 Despite a strong December quarter, diversified miner South32 on Monday warned shareholders that labour shortages and freight bottlenecks would impact global operations this year. “We achieved a number of strong production results across our portfolio and realised significantly higher commodity... 

Vedanta appoints Black Mountain mine GM

By: Donna Slater     24th January 2022 Zinc producer Vedanta Zinc International (VZI) has appointed Xolani Qamata Black Mountain mine (BMM) GM, effective January 3. In this role at the Aggeneys, Northern Cape-based operation, he will report to VZI business head Laxman Shekhawat.  

An image of Xolani Qamata
Vedanta Zinc International's new Mountain mine GM Xolani Qamata

Most earthmoving equipment arrives at Tirupati’s Sahamamy plant on schedule

By: Donna Slater     24th January 2022 In expanding its graphite production operations in Madagascar, specialist graphite and graphene company Tirupati Graphite reports that most of the new earthmoving equipment for the 18 000 t/y plant at Sahamamy has arrived on schedule, despite logistical challenges imposed by the Covid-19... 

There’s a buying frenzy in cheap and tiny diamonds

By: Bloomberg     23rd January 2022 A surge in diamond demand that began in the early Covid lockdowns is showing no sign of easing, and now even the cheapest, smallest stones are getting caught up in a buying frenzy. Low-end diamonds — the sort that you might find in jewellery displayed in a local WalMart — has been a tough... 

A photo of diamond sorting

China's Zijin Mining launches first lithium exploration project in DRC

By: Reuters     24th January 2022 China's Zijin Mining Group Co. Ltd said on Monday it had officially launched its first lithium exploration project through a joint venture with Democratic Republic of Congo- (DRC-) owned firm Cominiere. The joint venture, called Katamba Mining, has secured mining rights to two greenfield... 

BlackEarth raises cash for critical minerals work

By: Esmarie Iannucci     24th January 2022 ASX-listed BlackEarth Minerals will raise A$6.8-million to fund a definitive feasibility study (DFS) at its Maniry graphite project, in Madagascar. The company on Monday said that it would place some 50.7-million fully paid ordinary shares to institutional and sophisticated investors, at a price... 

Bell Equipment supplies 12 ADTs to Ikoti Coal

By: Simone Liedtke     Updated 13 minutes ago Twelve locally manufactured B45E articulated dump trucks (ADTs) were recently handed over to locally-owned and -operated miner Alfieri Holdings, which operates Ikoti Coal, in Mpumalanga. These ADTs, industry cluster organisation Mining Equipment Manufacturers of South Africa (Memsa) says, are the... 

Pictured: Enock Mabaso, Zabilon Inama, Gary Bell, Branden Moodley, and Bruce Ndlela.
Pictured: Enock Mabaso, Zabilon Inama, Gary Bell, Branden Moodley, and Bruce Ndlela.

Galantas takes $1m loan to get Omagh over finish line

By: Mariaan Webb     Updated 1 hour 52 minutes ago TSX-V-listed Galantas Gold has entered into a loan agreement for $1.06-million with Ocean Partners to continue development of the Omagh gold project, in Northern Ireland. Thanking Ocean Partners for their support, Galantas CEO Mario Stifano stated that the mine would enter production by the end... 

Ero Copper to raise $400m for debt repayment, mine capex

By: Mariaan Webb     Updated 2 hours 9 minutes ago Vancouver-headquartered Ero Copper on Monday announced an offering of $400-million of senior notes to restructure its debt and for capital expenditure (capex) related to a planned new mine in Brazil. The company would use the proceeds from the offering, together with cash on hand, to repay the... 

Rio Tinto CEO concerned about Serbian PM's comments on lithium project

By: Reuters     Updated 2 hours 24 minutes ago Rio Tinto's chief executive said on Tuesday he was concerned about the Serbian prime minister's comments against the company's lithium project, in his first remarks after Belgrade revoked the global mining company's exploration licences. Bowing to environmentalists, Serbian Prime Minister Ana... 

Iron-ore futures rise as miners face labour shortage in Australia

By: Reuters     Updated 2 hours 27 minutes ago Iron-ore futures in China and Singapore rose on Tuesday after miner Fortescue Metals Group raised concerns over a labour shortage in Australia because of Covid-19 curbs, which could hamper output and shipments of the steelmaking ingredient. Bigger rivals BHP Group and Rio Tinto have also warned... 

Sayona adds to Canadian footprint

By: Esmarie Iannucci     Updated 2 hours 36 minutes ago Lithium developer Sayona Mining has acquired 121 new claims west of the Moblan lithium project, significantly expanding the footprint of its Northern Québec lithium hub. Located 3.5km west of the Moblan project, the new claims, known as the Lac Albert project, span 6 592 ha and will be... 

Agrimin inks another offtake for Mackay

By: Esmarie Iannucci     Updated 2 hours 38 minutes ago ASX-listed Agrimin has inked a binding offtake agreement with global fertiliser trader Nitron for the supply of 115 000 t/y of sulphate of potash (SoP) produced from the Mackay project, in Western Australia. The SoP will be distributed in Latin America, Mexico, the Caribbean and Africa under the... 

EcoGraf produces first GreenRECARB product

By: Esmarie Iannucci     Updated 2 hours 44 minutes ago ASX-listed EcoGraf on Tuesday reported the production of its first GreenRECARB products as part of its global product development program for the new EcoGraf battery anode material (BAM) facility, in Western Australia. GreenRECARB is a recarburiser additive for use in electric arc and induction... 

Minnesota court orders review of water permit for PolyMet mine

By: Reuters     Updated 3 hours ago The Minnesota Court of Appeals on Monday ordered state regulators to reconsider a wastewater permit that was granted to PolyMet Mining to build an open-pit copper mine, though judges rejected six other challenges to the permit from environmentalists. The appeals court ordered the Minnesota... 

Fortescue sets record half

By: Esmarie Iannucci     Updated 4 hours ago Iron-ore major Fortescue Metals has reported record iron-ore shipments in the half-year ended December, with shipments reaching 93.1-million tonnes in the half year, up 3% on the previous corresponding period. Fortescue on Tuesday reported that iron-ore shipments in the three months to December... 

BHP starts Spence automation

By: Esmarie Iannucci     Updated 4 hours ago Major BHP has started autonomous drilling at its Spence copper operation, in Chile. The miner said on Tuesday that five autonomous drills will gradually be put into operation at Spence, with the company hoping that 100% of its drill pool would eventually becoming autonomous. 

Rio strikes deal to start Oyu Tolgoi underground

By: Esmarie Iannucci     Updated 5 hours ago Diversified miner Rio Tinto has announced the restart of underground operations at the Oyu Tolgoi project, in Mongolia, after reaching an agreement with the government of Mongolia. Rio said in a statement that the agreement will move the Oyu Tolgoi project forward, resetting the relationship... 

Image shows underground workings at Oyu Tolgoi

Fortune plans to build new cobalt refinery in Alberta

By: Creamer Media Reporter      24th January 2022 Critical minerals developer Fortune Minerals has selected a site for its proposed brownfields hydrometallurgical refinery for the Nico cobalt project in Northwest Territories.   The TSX-listed company on Monday announced that it had entered into an option agreement with JFSL Field Services, a... 

Gold nears two-month high as Russia-Ukraine tensions simmer

By: Reuters     24th January 2022 Gold prices advanced towards last week's two-month high on Monday as US bond yields continued to fall and investors looked to invest in the safe-haven metal over concerns about tensions between Russia and Ukraine. Spot gold was 0.5% higher at $1 841.50 per ounce by 10:13 GMT, holding close to... 

Natural gas, electricity price volatility and inflation the result of natural gas crisis

By: Schalk Burger     24th January 2022 Natural gas and electricity prices have spiked to record highs, most notably in Europe and some major Asian markets, causing potentially significant economic impacts and volatility in gas and electricity markets, driven by turmoil in natural gas markets, says intergovernmental organisation... 

IEA executive director Dr Fatih Birol
Photo by Bloomberg
IEA executive director Dr Fatih Birol

Troy unveils refunding plans

By: Esmarie Iannucci     24th January 2022 Embattled gold miner Troy Resources has released details around a ‘series of transactions’ that if approved by shareholders, could see the company raise some A$7.2-million in cash and retire a further A$18.7-million of net debt. Troy on Monday said that one of the potential transactions could... 

Indonesia starts construction of $2.3bn coal gasification plant

By: Reuters     24th January 2022 Indonesian President Joko Widodo launched construction of a $2.3-billion coal gasification plant on Monday, in a bid to slash the country's liquefied petroleum gas (LPG) imports while optimising its coal resources. The plant is designed to utilise 6-million tonnes of low rank coal to produce 1.4... 

Nowa Nowa proves profitable for Eastern Resources

By: Esmarie Iannucci     24th January 2022 A feasibility study into the Nowa Nowa iron project, in Victoria, has estimated a capital cost of A$15.7-million to support the production of some one-million tonnes a year of magnetite direct shipping ore (DSO). ASX-listed Eastern Resources on Monday said that the study estimated a... 

Americas Gold and Silver reopens San Rafael mine

By: Reuters     24th January 2022 The San Rafael mine in northern Mexico operated by Canada's Americas Gold and Silver has reopened, Mexico's Economy Minister Tatiana Clouthier said on Friday. Mexico's main mining union had been in talks for months to end a dispute that had forced the mine's closure. 

China lets in most of the Australian coal stranded at its ports

By: Bloomberg     24th January 2022 Most of the Australian coal used by steelmakers that was being held at Chinese ports in the wake of Beijing’s import ban has now been cleared, according to local research firm Fengkuang Coal Logistics, although there’s no sign that the halt on new shipments will be lifted. Customs data for the... 

Teck reaches collective agreement at Highland Valley

By: Creamer Media Reporter      24th January 2022 Diversified mining company Teck Resources and members of United Steelworkers Local 7619, representing 1 048 workers at the Highland Valley Copper operations in British Columbia, have reached a new collective agreement. The new five-year agreement replaces the one that expired on September 30.  

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