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Exciting listing on JSE’s AltX poised to give investors pure copper play  

By: Martin Creamer     Updated 6 hours ago The reverse listing of Big Tree Copper into SHiP Copper Company on the AltX of the Johannesburg Stock Exchange in October is expected to raise between R60-million to R250-million for the ramping up of combined production to 10 000 t of copper a year in the next three years. SHiP, run by Shirley... 

Big Tree Copper CEO Jan Nelson interviewed by Mining Weekly's Martin Creamer.

Mkango celebrates Songwe Hill DFS completion milestone 

By: Schalk Burger     5th July 2022 Rare earth elements mineral exploration and development company Mkango Resources has completed a definitive feasibility study (DFS) for its Songwe Hill rare earths project, in Malawi, which estimates that the company will have to invest $277-million in the project’s development. The TSX-V- and... 

An image of neodymium rare earths

Just Transition Framework means South Africa can ‘proceed apace’ with $8.5bn partnership 

By: Terence Creamer     Updated 6 hours ago President Cyril Ramaphosa says the publication of the Just Transition Framework will enable South Africa to “proceed apace with harnessing the benefits” of the Just Energy Transition Partnership concluded with the US, the UK, Germany, France and the European Union in late 2021. The partnership... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Gold teeters above $1 800 as lower yields counter dollar strength

By: Reuters     4th July 2022 Gold inched higher in choppy trade on Monday, as weakness in Treasury yields kept prices above the $1 800 mark and marginally outweighed pressure stemming from an elevated US dollar. Spot gold was up 0.1% at $1 811.76/oz, as of 05:44 GMT. US gold futures rose 0.7% to $1 813.70. Bullion prices... 

Ivanhoe's Kamoa-Kakula achieves another quarterly production record

By: Creamer Media Reporter      Updated 7 hours ago The Phase 1 and 2 concentrator plants at the Kamoa-Kakula mine, in the Democratic Republic of Congo, produced 30 379 t of copper in concentrate in June – the third consecutive month that the mine has surpassed its 7.6-million-tonne-a-year throughput design capacity. It also contributed to another... 

Alphamin achieves record quarterly output, declares dividend

By: Tasneem Bulbulia     Updated 6 hours ago TSX-V- and AltX-listed Alphamin Resources achieved record quarterly tin production of 3 180 t from its high-grade operation in the Democratic Republic of Congo (DRC) for the three months ended June 30. Output was 4% higher than that produced in the quarter ended March 31. 

AfriTin subsidiary secures N$100m lending facility to further Uis project’s development

By: Tasneem Bulbulia     5th July 2022 Aim-listed AfriTin Mining’s majority owned subsidiary, Uis Tin Mining Company, has entered into a conditional, credit-approved term sheet for a lending facility with the Development Bank of Namibia to fund the Uis Phase 1 Stage II Continuous Improvement project, in Namibia. The proposed lending... 

FFI looks at hydrogen in Djibouti

By: Esmarie Iannucci     5th July 2022 The green energy arm of Fortescue Metals, Fortescue Future Industries (FFI) is looking at hydrogen options in Djibouti. FFI is partnering with the government of the Republic of Djibouti to conduct studies with a view to developing green hydrogen production in the region, and has signed a... 

Congo orders China's CMOC to stop exports from Tenke Fungurume cobalt mine

By: Reuters     5th July 2022 A temporary administrator appointed by a Congolese court to run the world's second-largest cobalt mine ordered majority owner CMOC to suspend marketing and export of its production, letters seen by Reuters showed. CMOC, which has previously said that Tenke Fungurume Mining (TFM) remains under its... 

Firm says at least 32 companies likely to delist from South Africa’s exchanges this year

By: Marleny Arnoldi     5th July 2022 South Africa’s stock exchanges are set to experience a few delisting’s in the remainder of the year, which is likely to take the full-year total to at least 32. Consultancy AmaranthCX reports that South Africa had 332 listed companies at the start of the year, across the JSE and three other... 

Glacier Lake needs more time to complete KalPlats buy

By: Mariaan Webb     5th July 2022 The owners of the Kalahari palladium/platinum (KalPlats) project that TSX-V-listed Glacier Lake Resources has its eye on, has given the Canadian junior more time to complete the transaction. Glacier Lake said on Monday that the outside date for its acquisition of KalPlats, near Vryburg in the... 

Edenville restructures board as it plans to expand Rukwa project

By: Tasneem Bulbulia     5th July 2022 Aim-listed Edenville Energy, operator of the Rukwa coal project, in Tanzania, has announced the restructuring of its board as the company plans to expand the project to benefit from the increased demand and pricing for coal, together with exploring other opportunities to broaden the company’s... 

South Africa’s 400 abandoned coal mines pose deadly, toxic risk

By: Bloomberg     5th July 2022 South Africa has failed to clean up and secure hundreds of abandoned coal mines that now pose a deadly threat to nearby communities, according to Human Rights Watch. There are more than 400 empty coal mines across the nation, which exports the fossil fuel and uses it to generate about 80% of its... 

Caledonia declares quarterly dividend, reports strong output

By: Tasneem Bulbulia     5th July 2022 NYSE- and Aim-listed Caledonia Mining, which owns and operates the Blanket gold mine, in Zimbabwe, has declared a quarterly dividend of $0.14. Gold production so far this year has been strong and Caledonia says it is on track to reach targeted production of 73 000 oz to 80 000 oz of gold this year. 

Firefinch sells stake in Leo Lithium

By: Esmarie Iannucci     5th July 2022 Gold miner Firefinch has sold 28.6-million of its shares in lithium spin-off Leo Lithium at a price of 45.5c each, garnering revenues of A$12.9-million. Leo Lithium started share trading in June following a successful initial public offering (IPO) in May, during which Leo raised A$100-million... 

Resolute rejoices as Mali sanctions are lifted

By: Esmarie Iannucci     5th July 2022 Gold miner Resolute Mining has welcomed the decision by the Economic Community of West African States (Ecowas) to lift sanctions against Mali, where it operates the Syama gold mine. Sanctions were imposed on Mali in January this year after the military government said it would not organise... 

Keliber deposit testwork produces battery-grade lithium hydroxide

By: Tasneem Bulbulia     5th July 2022 Finnish mining and battery chemical company Keliber, in which diversified miner Sibanye-Stillwater owns a significant interest, has completed a four-phase pilot-scale test programme and verified the behaviour of the ore from the company's largest deposit, Rapasaari, at all stages of the... 

Advisory firms find only benefits to Mason, Nouveau Monde JV

By: Marleny Arnoldi     Updated 6 hours ago Independent proxy voting advisory firms Institutional Shareholder Services (ISS) and Glass Lewis have advised Canadian corporation Mason Graphite shareholders to vote in favour of the option and joint venture agreement (JV) intended with NYSE-listed Nouveau Monde Graphite (NMG), as well as a... 

Metals extend losses as global recession fears damp outlook

By: Bloomberg     Updated 6 hours ago Copper fell to the lowest level in 17 months, with metals extending losses as global recession fears continue to damp the demand outlook for commodities. Sentiment remains sour for the industrial materials used in everything from construction to new energy vehicles. Copper, widely considered an... 

NevGold closes option to acquire Nutmeg Mountain gold project

By: Tasneem Bulbulia     Updated 6 hours ago Mineral exploration and development company NevGold has announced the closing of the option agreement to acquire the Nutmeg Mountain gold project, in Idaho, and a C$1-million strategic investment by TSX- and NYSE-listed GoldMining. “NevGold is very pleased to close the option agreement on Nutmeg... 

Hecla to help Keno Hill achieve its full potential

By: Mariaan Webb     Updated 7 hours ago NYSE-listed Hecla Mining on Tuesday announced the acquisition of NYSE American- and TSX-listed Alexco Resources in a transaction that will make the company not only the biggest silver producer in the US, but also in Canada. Each outstanding common share of Alexco will be exchanged for 0.116 of a... 

an image of the Keno Hill silver mine in Yukon
The past-producing Keno Hill is seen as a seamless fit for Hecla

Study finds six potentially harmful elements in Krugersdorp game reserve water

By: Schalk Burger     Updated 7 hours ago The Mangosuthu University of Technology (MUT) academics and their counterparts from the Council for Geosciences have discovered high concentrations of six potentially harmful elements (PHE) in the Krugersdorp Game Reserve. The academics conducted a study to determine the levels of various... 

Mosaic acquires 100% interest in Gaboury, 113 North projects

By: Tasneem Bulbulia     Updated 7 hours ago Canadian mining exploration company Mosaic Minerals has signed an agreement to acquire 100% of the interest in the Gaboury project, in Témiscamingue, Québec and 113 North project in Abitibi, Québec, from TSX-V-listed Fokus Mining. To acquire 100% interest in the Gaboury and 113 North projects,... 

Monarch starts putting Beaufor ore through Beacon mill

By: Mariaan Webb     Updated 7 hours ago Toronto-listed Monarch Mining has been working relentlessly to restart the Beaufor mine and Beacon mill and is pleased to see its efforts coming to fruition, president and CEO Jean-Marc Lacoste said on Tuesday, reporting that it has begun processing ore. After investing C$20-million in... 

An image of the Beaufor mine in Quebec
The Beaufor mine in Quebec

Wheaton strikes deal with Hecla amid its acquisition of Alexco

By: Marleny Arnoldi     Updated 7 hours ago Canadian multinational miner Wheaton Precious Metals has entered into a definitive agreement with NYSE-listed silver producer Hecla Mining Company to terminate its silver stream on fellow-listed Alexco Resource Corporation’s Keno Hill silver district, in Yukon, Canada, for $135-million. "The... 

Newmont agrees to profit-sharing bonus at Peñasquito

By: Mariaan Webb     5th July 2022 Gold major Newmont on Tuesday announced an uncapped profit-sharing bonus of up to 10% for workers at its Peñasquito mine, in Mexico, costing the company $70-million this year. “We are pleased to have reached this agreement with the National Union of Mining, Metallurgical, Iron and Steel and... 

KonNx portfolio ensures constant connection, safety

By: Simone Liedtke     5th July 2022 In an effort to ensure constant connection between power cables, the relevant equipment and electricity, high voltage cable coupler manufacturer KonNx designs, manufactures and distributes high and low voltage cable couplers and connectors for use in heavy industrial applications (such as... 

Bank of England takes deep dive into 'opaque' commodities

By: Reuters     5th July 2022  The Bank of England said on Tuesday it will conduct an in-depth analysis of "opaque" commodity markets after Russia's invasion of Ukraine left the central bank without a full picture of risks and vulnerabilities. Just as the global financial crisis threw a spotlight on unregulated so-called... 

Coal imports pour into energy-starved Europe from around the globe

By: Bloomberg     5th July 2022 A hunt by Europe’s coal consumers to replace Russian cargoes with shipments from across the globe has boosted imports to a key hub by more than a third, helping to fill severely depleted stockpiles. Coal poured into the Antwerp-Rotterdam-Amsterdam region -- a huge transport hub for energy and... 

Coal imports pour into energy-starved Europe from around the globe

Potential $70m lifeline for Nevada Copper

By: Mariaan Webb     5th July 2022 Embattled miner Nevada Copper on Monday announced nonbinding terms with its senior lender, KfW IPEX-Bank, and its biggest shareholder, Pala Investments, for a loan of up to $70-million. The copper producer, which at the weekend suspended mining activities at Pumpkin Hollow, reported that the... 

Potential $70m lifeline for Nevada Copper

Galantas starts underground production at Omagh

By: Creamer Media Reporter      5th July 2022 Dual-listed Galantas Gold has started underground production at the Omagh project, in Northern Ireland, with longhole drilling commencing in the first series of stopes. Installation of the secondary egress from the 1 096 to 1 052 level is in the final stage of completion and is expected to be... 

Galantas starts underground production at Omagh

True North Gems to buy stake in James Bay area lithium project

By: Mariaan Webb     5th July 2022 TSX-V-listed True North Gems has organised a subsidiary – to be named Laval Critical Elements – to acquire a 50% interest in the Cyr-Kapiwak lithium project in the James Bay area of Quebec. Laval Critical Elements will buy the project, comprising 42 mineral claims over 2 220 ha, from Lithium One... 

Zimbabwe to introduce gold coins as local currency tumbles

By: Reuters     5th July 2022 Zimbabwe's central bank said it would start selling gold coins this month as a store of value to tame runaway inflation, which has considerably weakened the local currency. The central bank governor John Mangudya said in a statement on Monday that the coins will be available for sale from July 25... 

Russian tycoon Potanin to start Nornickel-Rusal merger talks

By: Bloomberg     5th July 2022 Billionaire Vladimir Potanin, the biggest investor in MMC Norilsk Nickel, said he’s ready to discuss merging the mining giant with United Co Rusal International as sanctions against Russia weigh on both companies. Potanin has headed Nornickel since striking a 2012 shareholder accord with... 

Am image of Russian billionaire Vladimir Potanin
Russian billionaire Vladimir Potanin

Ball in Mexico govt’s court to correct title issuance procedures – Almaden

By: Mariaan Webb     5th July 2022 The Supreme Court of Justice has formally notified the Mexico Economy Ministry (Economia) of its April decision declaring TSX- and NYSE American-listed Almaden Minerals’ titles relating to the Ixtaca project “ineffective”. However, the mineral title applications were filed in conformity with... 

Regis marks record quarter and full year

By: Esmarie Iannucci     5th July 2022 Gold miner Regis Resources has reported record production in the June quarter, as well as the 2022 financial year. Gold production in the June quarter reached 123 901 oz, with the Duketon operation contributing 92 800 oz and the Tropicana mine contributing 31 100 oz. The June quarter production... 

Westgold hits production target

By: Esmarie Iannucci     5th July 2022 ASX-listed Westgold Resources has hit its production target for the 2022 financial year, producing 270 878 oz of gold, setting a new production record. For the fourth quarter ending June, the company produced 72 591 oz of gold, with the Cue gold operation, in Western Australia, producing a... 

Stavely raises cash for Victorian exploration

By: Esmarie Iannucci     5th July 2022 Junior Stavely Minerals will raise A$4-million in a share placement to fund exploration and resource definition drilling at its copper/gold project in Western Victoria. The ASX-listed company on Tuesday reported that it would place some 26.7-million shares, at a price of 15c each under its... 

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