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Anglo to focus on cost cutting following disappointing 2023 performance
22nd February 2024 By: Darren Parker

Mining major Anglo American chairperson Stuart Chambers and CEO Duncan Wanblad have both expressed disappointment with the company’s financial results for 2023, which were released on February 22. Chambers opened the presentation of the company’s... 


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Magazine round up | 23 February 2024
Magazine round up | 23 February 2024
23rd February 2024
Resources Watch
Resources Watch
21st February 2024
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Major hydrogen economy developments in SA
21st February 2024

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Panoramic CEO and CFO roles made redundant
Updated 1 hour 13 minutes ago By: Creamer Media Reporter

The administrators of Panoramic Resources this week announced that the role of CEO had been made redundant. This followed the cessation of operations at the Savannah nickel project last month,... 


Spodumene production will be reduced at Mt Cattlin, in Australia
Newly merged Arcadium Lithium slows pace of expansion
Updated 1 hour 37 minutes ago By: Mariaan Webb

NYSE- and ASX-listed Arcadium Lithium – the company formed from the merger of equals between Livent and Alkem – has flagged a slowdown in the pace of its expansion plans in light of the current... 


Eldorado lifts capex estimate for Greece mining project
Eldorado lifts capex estimate for Greece mining project
Updated 2 hours 12 minutes ago By: Mariaan Webb

Canada-based Eldorado Gold has increased the capital expenditure (capex) estimate of the Skouries project, in Greece, to $920-million, but between the project finance facility and balance sheet,... 


Natascha Viljoen
Atkinson’s responsibilities shift to new COO Natascha Viljoen
Updated 2 hours 47 minutes ago By: Creamer Media Reporter

Following a five-month handover period, Newmont has completed its COO transition and starting next week, Rob Atkinson will transition all his remaining responsibilities to new COO, Natascha... 


France’s $1.6bn uranium deal with Mongolia faces delays
Updated 3 hours ago By: Reuters

A $1.6-billion uranium mining deal between France and Mongolia that is part of French efforts to diversify supplies to power its fleet of nuclear reactors is running into political hurdles. A... 


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Sandeep Biswas
Elliott Management plans to spend over $1bn on mining assets, FT reports
Updated 4 hours ago By: Reuters

US activist investor Elliott Management is setting up a company to invest over $1-billion to buy mining assets globally, the Financial Times reported on Friday, citing people familiar with the... 


Woodside to sell $1.4bn stake in key gas project to Jera
Woodside to sell $1.4bn stake in key gas project to Jera
Updated 6 hours ago By: Bloomberg

Woodside Energy Group to a $1.4-billion deal to sell a 15.1% stake in its flagship Scarborough liquefied natural gas project to Jera Co., Japan’s biggest power producer, as consumers aim to secure... 


Vale fourth-quarter profit falls 35% on higher provisions over dam accident
Vale fourth-quarter profit falls 35% on higher provisions over dam accident
Updated 6 hours ago By: Reuters

Brazilian miner Vale reported on Thursday a 35% drop in fourth quarter net profit, missing analyst expectations by almost half, following higher provisions related to its Samarco joint venture and... 


MP Materials swings to quarterly loss on falling rare earths prices
Updated 6 hours ago By: Reuters

Rare earths miner MP Materials on Thursday reported a fourth-quarter loss due to slipping prices for the strategic minerals and rising production costs, although the loss was not as much as... 


Teck expects to close coal unit sale to Glencore by Q3, CEO says
Teck expects to close coal unit sale to Glencore by Q3, CEO says
Updated 7 hours ago By: Reuters

Canadian miner Teck Resources plans to close the sale of its steel-making coal unit to Glencore no later than the third quarter of 2024, CEO Jonathan Price told Reuters in an interview on... 


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Magazine round up | 23 February 2024
Magazine round up | 23 February 2024
23rd February 2024

A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 


Sylvania reports positive results despite lower PGM prices
22nd February 2024 By: Sabrina Jardim

Platinum group metals (PGMs) producer and developer Sylvania Platinum says its revenue and net profit for the 2023 financial year remained respectable, despite the impact of a significantly lower... 


Eskom insists downward EAF slide has been ‘arrested’ amid Stage 4 loadshedding
Eskom insists downward EAF slide has been ‘arrested’ amid Stage 4 loadshedding
22nd February 2024 By: Terence Creamer

Eskom insists the performance of its unreliable generation fleet is on an improving trajectory, releasing a graphic-heavy statement on February 22 disputing a recent report stating that its... 


Posco to import African battery graphite to cut China reliance
22nd February 2024 By: Bloomberg

Posco Future M Co, which produces battery materials for companies including General Motors Co, is preparing to import graphite from Africa to reduce its dependence on supplies from China. “Graphite... 


Equinox targets one-third production jump this year
22nd February 2024 By: Creamer Media Reporter

Canada-based gold miner Equinox Gold has finished 2023 strongly, not only achieving its gold guidance, but also setting out plans for a big step up in output this year. Equinox, which has seven... 


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Magazine

Magazine round up | 23 February 2024
Magazine round up | 23 February 2024

A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

CURRENCY CRUNCH: Zimbabwe may back its currency with gold to end exchange-rate instability, Finance Minister Mthuli Ncube announced earlier this month. “In order to manage growth of liquidity, we may link the exchange rate to a hard asset such as gold,” Ncube said in an online press briefing a week after President Emmerson Mnangagwa signalled that a revamp of the world’s worst-performing currency was under consideration. At the time of the announcement, the Zimbabwe dollar had slumped almost 50% against the US dollar this year after plunging 90% in 2023.
CURRENCY CRUNCH

Zimbabwe may back its currency with gold to end exchange-rate instability, Finance Minister Mthuli Ncube announced earlier this month. “In order to manage growth of liquidity, we may link the... 

Photo of Martin Creamer
Junior mining fund is a start, but should not be seen as the end game

The Junior Mining Exploration Fund just launched by the Industrial Development Corporation and the Department of Mineral Resources and Energy (DMRE) is a start but must not end up as the finish.... 

Photo of Terence Creamer
Crunch time

The consequences of policy failure in electricity are so obvious there is no need to ventilate them again. Not so for gas, however, given that they are only visible to those manufacturers that have... 

Business Leader

Jurie Wessels, founder and executive chairperson of Vanadium Resources
Jurie Wessels

This week we profile Jurie Wessels, founder and executive chairperson of Vanadium Resources, which is developing the Steelpoortdrift mine and concentrator and the Tweefontein salt roast leach plant 

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HANGING ON

HANGING ON: There was a near audible sigh of relief when ArcelorMittal South Africa announced a six-month deferral to its plan to close its loss-making long-products business. While the group sees... 

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