R/€ = 16.95 Change: -0.01
R/$ = 16.63 Change: -0.01
Au 1786.11 $/oz Change: 8.86
Pt 945.00 $/oz Change: 10.50

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Barrick claims lead in holistic ESG integration amid ‘greenwashing’ scepticism 

By: Martin Creamer     8th August 2022 Gold and copper mining company Barrick has taken the lead in integrating the various aspects of environmental social governance (ESG) to ensure holistic and objective measurement, Barrick CE Dr Mark Bristow stated on Monday, when the New York- and Toronto-listed company reported strong... 

Barrick CE Dr Mark Bristow.
Barrick CE Dr Mark Bristow.

President’s new energy plan opens way for Glencore Alloys to target bigger projects 

By: Martin Creamer     8th August 2022 Glencore Alloys head Japie Fullard has hailed the new energy plan announced by President Cyril Ramaphosa as opening the way for the company to target bigger power projects. “I must say that the President’s energy presentation is definitely something that is appealing to us,” said Fullard, who... 

Glencore Alloys head Japie Fullard.
Glencore Alloys head Japie Fullard.

Eskom makes case for major overhaul of retail tariff structure in submission to regulator

By: Terence Creamer     8th August 2022 Eskom has submitted a tariff restructuring application to the National Energy Regulator of South Africa (Nersa) in which the utility is proposing a major overhaul of the prevailing retail tariff structure, including a separation of energy, network and service charges and the introduction of... 

Eskom head office at Megawatt Park
Eskom head office at Megawatt Park

Tirupati raises £1.5m to expand capacity

By: Donna Slater     8th August 2022 Specialist graphite and graphene company Tirupati Graphite has raised £1.5-million in a private placement of convertible loan notes through its broker Optiva Securities as a first tranche of an overall £3-million capital raise. The proceeds from this initial tranche will be used to fund the... 

Bushveld appoints interim chairperson after Watson retires

By: Donna Slater     8th August 2022 Aim-listed integrated primary vanadium producer and energy storage solutions provider Bushveld Minerals has appointed Michael Kirkwood as interim chairperson, following incumbent Ian Watson’s retirement. Watson’s retirement became effective as of Bushveld’s annual general meeting (AGM) on August... 

Xtra-Gold lifts cash to $5.7m in H1

By: Donna Slater     8th August 2022 In the first half of this year, TSX-listed Ghana-focussed gold explorer Xtra-Gold produced 1 098 oz of raw gold and sold 1 162 fine ounces at an average price of $1 928/oz, thereby increasing the company’s cash on hand (excluding restricted cash) to $5.7-million, from $4.7-million at the end of... 

'Fire will be met with fire': Cops send special reinforcements to combat Krugersdorp illegal miners

By: News24Wire      8th August 2022 Police Minister Bheki Cele says reinforcements will be sent to West Village in Krugersdorp, Gauteng to help fight illegal miners accused of terrorising residents. On Sunday, Cele, Gauteng Premier David Makhura and senior police officers visited the area for a community imbizo. Residents claimed... 

Police Minister Bheki Cele
Police Minister Bheki Cele

'I don't want to count officers on the ground, but illegal miners' – Cele vows 'hard' response

By: News24Wire      8th August 2022 There were hints of the controversial shoot-to-kill rhetoric from Police Minister Bheki Cele on Sunday when he addressed angry Kagiso residents. Cele, who said he would not instruct his officers to "shoot to kill", again came under pressure from residents who called on him to "win the war"... 

Police Minister Bheki Cele
Police Minister Bheki Cele

Lithium projects in Africa increasing, but Americas will still dominate – Fitch Solutions

By: Tasneem Bulbulia     8th August 2022 Fitch Solutions Country Risk and Industry Research expects to see an increase in lithium development projects in Africa, particularly from Chinese firms, with investment buoyed by expectations for lithium to resist the downwards trend of most nonferrous metals in the second half of the year amid... 

Copper dips but interest rate hopes support

By: Reuters     8th August 2022 Copper prices eased on Monday but were supported by rising imports of the industrial metal by top consumer China and by hopes that interest rates will peak soon after rapid increases aimed at curbing inflation. Benchmark copper CMCU3 on the London Metal Exchange (LME) traded down 0.2% at $7 850... 

The EV race is turning a gold rush haven into a battery hub

By: Bloomberg     8th August 2022 Gold has long dominated the Western Australian city of Kalgoorlie, born in a late 19th Century prospecting rush and home to one of the world’s largest-open pit mines, nestled right next to residential streets. Blasts to dislodge precious-metal laced rock from the more than two-mile long Super Pit... 

The EV race is turning a gold rush haven into a battery hub

Sumitomo Metal, Sumitomo hike Chile copper project cost estimate by 60%

By: Reuters     8th August 2022 Japan's Sumitomo Metal Mining and Sumitomo said on Monday they had raised their estimate of the construction cost for the Quebrada Blanca phase 2 (QB2) copper project in Chile to about $7.5-billion from $4.7-billion. The 60% increase comes as the Covid-19 pandemic has delayed construction which... 

Energy Fuels makes management changes 

By: Mariaan Webb     8th August 2022 To bolster its management team during its current growth phase and expansion into the rare-earth element (REE) industry, Energy Fuels has hired a new COO and CFO. The US-based company appointed John Uhrie as COO and Tom Brock as CFO with effect from August 2 and August 8, respectively. 

Energy Fuels announces long-term contracts, offers uranium to new US reserve

By: Mariaan Webb     8th August 2022 US-based Energy Fuels has executed three long-term contracts with US nuclear utilities, committing to deliver up to 4.2-million pounds between 2023 and 2030, CEO Mark Chalmers announced on Friday. The company would fulfil deliveries during the early years of these contracts from its existing... 

The White Mesa uranium mill
The White Mesa uranium mill

Acquisition to bolster Clear Sky’s lithium potential in Nevada

By: Simone Liedtke     8th August 2022 Mineral exploration and development company Clear Sky Lithium has entered into a property option agreement with miner Halo Lithium, pursuant to which it has been granted the right to acquire the Halo project, in Nevada. The acquisition of the project, which comprises 98 mineral claims, will... 

Uranium Energy Corporation submits revised offer to acquire UEX Corporation

By: Donna Slater     8th August 2022 NYSE-listed pureplay uranium company Uranium Energy Corporation (UEC) has submitted an improved buyout offer to UEX Corporation (UEX). This while Denison Mines Corporation is also trying to acquire all UEX shares in a competing offer.  

Gold Resources provides Michigan enviro dept with an update on Back Forty improvements

By: Tasneem Bulbulia     8th August 2022 NYSE-listed gold and silver miner Gold Resources said in a statement on August 5 that it had been invited by the Michigan’s Department of Environment, Great Lakes and Energy (EGLE) to participate in a scoping environmental-impact assessment (SEIA) Meeting on the day. The company said it was given... 

Imperial Metals seeks to raise $45m to bridge Mount Polley restart revenue shortfall

By: Creamer Media Reporter      8th August 2022 Vancouver-headquartered Imperial Metals Corporation is seeking to secure additional funds for restart activities at its Mount Polley copper and gold mine by way of a nonbrokered private placement of $45-million in convertible debentures. The company notes that the mine is operating at targeted... 

Peru copper production rises 8.6% in June with Las Bambas resuming ops

By: Reuters     8th August 2022 Copper output in Peru, the world's second-largest producer of the red metal, rose 8.6% in June from a year earlier, government data showed on Friday, as operations at the giant Las Bambas mine resumed after a truce granted by indigenous communities protesting at the site. Copper production in... 

Chile sinkhole grows large enough to swallow France's Arc de Triomphe

By: Reuters     8th August 2022 A sinkhole in Chile has doubled in size, growing large enough to engulf France's Arc de Triomphe and prompting officials to order work to stop at a nearby copper mine. The sinkhole, which emerged on July 30, now stretches 50 meters (160 feet) across and goes down 200 meters (656 feet). Seattle's... 

Indonesia says Tesla strikes $5bn deal to buy nickel products – media

By: Reuters     8th August 2022 US carmaker Tesla has signed contracts worth about $5-billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia. Southeast Asia's biggest economy has been trying to get Tesla to set up a production facility in the... 

Wiluna administrators looking at sale

By: Esmarie Iannucci     8th August 2022 The administrators of ASX-listed Wiluna Mining is looking to increase gold recovery from the Wiluna mine in the near term, while exploring recapitalisation or sale opportunities. Following the first meeting of creditors on August 1, the administrators said that its intentions to continue... 

Impact to divest majority of Commonwealth project

By: Esmarie Iannucci     8th August 2022 Junior Impact Minerals has agreed to divest a 75% interest in the Commonwealth gold/silver/base metals project, in New South Wales, to unlisted Burrendong Minerals. Under the terms of the agreement, Impact would receive a non-refundable option fee of A$25 000 for an eight week exclusivity period... 

Worsley expansion given two more weeks for public comment

By: Esmarie Iannucci     8th August 2022 The Western Australian Environmental Protection Authority (EPA) has given stakeholders and community groups an additional two weeks to comment on diversified miner South32’s proposed expansion at its Worsley alumina operations. South32 is proposing to continue operations and expand the existing... 

Sheffield secures A$110m more in Thunderbird funding

By: Esmarie Iannucci     8th August 2022 Mineral sands developer Sheffield Resources has secured a $110-million project finance facility to fund its Thunderbird mineral sands project, in Western Australia. The ASX-listed company on Monday announced that Orion Resource Partners and Kimberley Mineral Sands (KMS) had agreed upon a... 

Nickel Industries secures debt for Oracle buy

By: Esmarie Iannucci     8th August 2022 ASX-listed Nickel Industries has secured $225-million in debt capital for the acquisition of the Oracle nickel project. Nickel Industries in December last year inked a definitive agreement with partner Shanghai Decent Investment to acquire a 70% equity interest in the Oracle nickel project for... 

Oz Minerals rejects BHP's A$8.4bn offer

By: Esmarie Iannucci     8th August 2022 Copper miner Oz Minerals has rejected a surprise A$8.4-billion takeover bid from diversified miner BHP. BHP submitted a non-binding indicative proposal to Oz Minerals at the end of last week, to acquire all of the company’s shares at a price of A$25 a share. The offer represented a 32.1% premium... 

Image shows Oz Minerals' Prominent Hill mine

SAHRC blames former mine owners for illegal mining activities

By: Yvonne Silaule     5th August 2022 The South African Human Rights Commission (SAHRC) blames former mine owners for illegal mining activities. This comes as recent instances of crime have again highlighted the extent of illegal mining taking place in parts of the country, as well as the criminal behaviour that stems from these... 

Vedanta Zinc breaks ground on R7bn Gamsberg expansion project 

By: Darren Parker     5th August 2022 Zinc mining company Vedanta Zinc International (VZI) officially broke ground on its Gamsberg Phase II project on August 5. The R7-billion investment in the expansion of the company’s opencast zinc mine is expected to create between 2 000 and 2 500 jobs during the construction phase and a further... 

Vedanta Zinc International's Gamsberg Phase II sod-turning ceremony

Master Drilling to report higher interim earnings

By: Donna Slater     5th August 2022 JSE-listed drilling services company Master Drilling expects its earnings per share (EPS) for the first half of this year to be between 47.2% and 67.2% higher year-on-year, at between R1.28 and R1.45. Headline earnings per share (HEPS) are expected to be between 45.5% and 65.5% higher... 

Red Rock’s arbitration over DRC asset continues

By: Tasneem Bulbulia     5th August 2022 Natural resource development company Red Rock Resources says in an asset review and current developments update to shareholders that arbitration is continuing in the Democratic Republic in Congo (DRC), with the outcome unknown. “As many will know, we recently returned from a trip to the DRC of... 

Nothing adds more value than improving operational performance – AngloGold 

By: Martin Creamer     5th August 2022 Gold mining company AngloGold Ashanti is firmly focused on operation performance and the recovery of cost competitiveness as it implements its full asset potential review programme, on which it will report at three-monthly intervals. This was made clear by AngloGold Ashanti CEO Alberto Calderon... 

AngloGold Ashanti CEO Alberto Calderon
AngloGold Ashanti CEO Alberto Calderon

Electricity reforms to spur ‘boom in private fixed investment’ 

By: Terence Creamer     5th August 2022 Minister in the Presidency Mondli Gungubele says the reforms under way in the electricity sector – including the removal of the 100 MW licensing threshold for distributed generation projects and the expedited procurement of new capacity from renewables, gas and battery storage – will “supercharge... 

Minister in the Presidency Mondli Gungubele
Photo by Creamer Media Chief Photographer Donna Slater
Minister in the Presidency Mondli Gungubele

West Wits to explore for uranium at Witwatersrand Basin project

By: Donna Slater     5th August 2022 ASX-listed precious and base metals explorer, developer and producer West Wits Mining has started the first phase of drilling to test uranium mineralisation at its uranium exploration target, which forms part of the Bird Reef exploration programme at the Witwatersrand Basin project (WBP). In... 

Russia becomes India's third-largest coal supplier in July, Coalmint data shows

By: Reuters     5th August 2022 Russia became India's third-largest coal supplier in July, with imports rising by over a fifth compared with June to a record 2.06-million tonnes, data from Indian consultancy Coalmint showed. Russia has historically been the sixth-largest supplier of coal to India, behind Indonesia, South... 

Gold heads for third weekly gain on rising demand for havens

By: Reuters     5th August 2022 Gold traded near a one-month high -- after jumping the most since March on Thursday -- as US-China tensions and a deepening global slowdown buoyed demand for haven assets. Bullion surged 1.5% on Thursday and is heading for a run of three straight weekly gains after China likely fired missiles... 

South Africa, Botswana agree to boost rail link

By: Donna Slater     5th August 2022 South Africa and Botswana have agreed, in principle, on joint development initiatives to be implemented by Transnet Freight Rail (TFR) and Botswana Rail (BR), to improve trade between the two countries, following a high-level business roundtable. The initiatives will enable landlocked Botswana... 

Implats’ earnings to decline on lower sales revenue, inflationary pressures

By: Donna Slater     5th August 2022 Platinum group metals (PGMs) miner Impala Platinum (Implats) expects its basic earnings for the financial year ended June 30 to decrease by between 29% and 35% year-on-year, to between R30.5-billion and R33.5-billion, while its earnings a share for the period are expected to decrease by between... 

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Magazine round up | 05 August 2022

High-flying Glencore locks in renewable power, prioritises future-facing metals

SA's energy plan, Queensland royalty rates, Anglo's green hydrogen production plan make headlines

Resources Watch

Anglo’s big on-site solar, off-site wind plan lays foundation for green hydrogen

Royal Bafokeng applauds President’s energy plan, nears decision on solar

President Ramaphosa’s got it right, says ex-Eskom CEO on new energy plan

Anglo’s Pearce decries Queensland’s dramatic increase in royalty rates


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