R/€ = 17.01 Change: 0.08
R/$ = 16.70 Change: 0.08
Au 1776.26 $/oz Change: -13.92
Pt 934.50 $/oz Change: -5.00

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

By: Martin Creamer     Updated 2 hours 27 minutes ago 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.

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

AngloGold declares $121m first-half dividend on strong cash flow, higher production 

By: Martin Creamer     5th August 2022 Gold mining company AngloGold Ashanti on Friday declared an interim dividend of $121-million on 3% higher year-on-year production and a strong cash-flow improvement. First-half production for the first six months of 2022 was 1.233-million ounces, with second-quarter output up 10% on strong... 

Sunrise Dam’s full-potential assessment identified 33 improvement initiatives.
Sunrise Dam’s full-potential assessment identified 33 improvement initiatives.

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

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

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... 

Angolan sovereign wealth fund invests further $10m in Pensana

By: Tasneem Bulbulia     5th August 2022 Aim-listed Pensana says Fundo Soberano de Angola (FSDEA), the Angolan Sovereign Wealth Fund, will make a further $10-million equity investment in the company in return for 12.3-million ordinary shares in Pensana. These funds will be directed towards Pensana’s Angola-based Longonjo project’s early... 

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... 

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... 

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... 

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... 

Deep Yellow and Vimy merger implemented

By: Esmarie Iannucci     5th August 2022 The merger agreement between uranium developer Deep Yellow Resources and Vimy Resources has been implemented, creating a global uranium player. The two companies earlier this year announced the merger agreement under which Deep Yellow would acquire all of the shares in ASX-listed Vimy, with Vimy... 

B2Gold and AngloGold pull Colombia gold project

By: Mariaan Webb     5th August 2022 Joint venture (JV) partners B2Gold and AngloGold Ashanti are reviewing alternatives for their Gramalote project, in Colombia, after the preliminary optimised feasibility study for the project failed to impress. Both parties agreed that the project does not meet their investment thresholds to... 

B2Gold and AngloGold pull Colombia gold project

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

By: Mariaan Webb     Updated 24 minutes ago 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     Updated 49 minutes ago 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     Updated 1 hour ago 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     Updated 1 hour 17 minutes ago 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      Updated 1 hour 55 minutes ago 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     Updated 2 hours 21 minutes ago 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     Updated 2 hours 26 minutes ago 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     Updated 2 hours 50 minutes ago 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     Updated 2 hours 51 minutes ago 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     Updated 4 hours ago 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     Updated 4 hours ago 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     Updated 4 hours ago 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     Updated 4 hours ago 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     Updated 7 hours ago 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... 

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... 

Lithium miner ioneer finds workaround for wildflower that’s stalling US project

By: Bloomberg     5th August 2022 A lithium supplier for Ford Motor and Toyota Motor expects to clear an environmental hurdle involving a rare flower next year, paving the way for deliveries to electric-vehicle makers ahead of looming shortages of the battery metal. ioneer seeks to build its Rhyolite Ridge lithium-boron project... 

Lithium miner ioneer finds workaround for wildflower that’s stalling US project

Rio Tinto not concerned about Chinese ore-buying company -executive

By: Reuters     5th August 2022 Rio Tinto is not concerned about China's plans to centralise iron ore purchases and has strong ties with its customers, the Australia CEO for the global miner said on Friday. Kellie Parker's comments were in response to questions from the media about China Mineral Resources Group, a state-owned... 

Rio Tinto attracts several proposals to build 4 GW of wind, solar power

By: Reuters     5th August 2022 Global miner Rio Tinto has received several offers to build 4 GW of wind and solar farms to power its alumina and aluminium operations in Australia's Queensland state, the company's Australia head said on Friday. Rio Tinto CEO Australia Kellie Parker said the company, the country's biggest... 

Rio Tinto attracts several proposals to build 4 GW of wind, solar power

MP Materials profit more than doubles on higher rare earths prices

By: Reuters     5th August 2022 Rare earths miner MP Materials reported a better-than-expected quarterly profit on Thursday due to rising demand and prices for the materials used to make electric vehicles and a range of consumer goods. The Las Vegas-based company posted second-quarter net income of $73.3-million, or 38c a... 

Core appoints CEO

By: Esmarie Iannucci     5th August 2022 Lithium developer Core Lithium has appointed Gareth Manderson as the company’s CEO, succeeding Stephen Biggins, who announces his resignation as MD in March this year. Manderson, who has 28 years experience in the mining and minerals sector, was most recently the GM of sustaining capital with... 

Equinox keeps lid on Greenstone costs, appoints new CEO

By: Mariaan Webb     5th August 2022 Canadian miner Equinox Gold is making good construction progress at its Greenstone project, in Ontario, which is now 35% complete and remains on schedule for completion in 2024. Despite inflationary pressures sweeping through the mining industry, Equinox has managed to control costs at the... 

Seabridge sees potential for copper-rich underground mine at KSM

By: Mariaan Webb     5th August 2022 Toronto- listed Seabridge Gold has unveiled the results of a preliminary economic assessment (PEA) study for a potential copper-rich underground mine at its KSM project, in northern British Columbia. The 2022 PEA is a stand-alone mine plan that has been undertaken to evaluate a potential future... 

Nutrien says potash will remain tight even as Russia ships more

By: Bloomberg     5th August 2022 Global potash will remain tight even as more buyers shed their fear of buying from Russia and Belarus, according to a top fertilizer maker’s chief executive officer. Supplies from Russia may remain as much as 20% below 2021 levels even as access to export markets grow into the coming year, Ken... 

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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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