R/€ = 17.31 Change: -0.01
R/$ = 14.56 Change: -0.01
Au 1826.85 $/oz Change: 11.49
Pt 1042.50 $/oz Change: -36.00

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Sibanye advances battery metals strategy with acquisition of French nickel refinery  

By: Marleny Arnoldi     Updated 4 hours ago Precious metals miner Sibanye-Stillwater has taken the next step in expanding its footprint in the battery metals sector by entering into an exclusive put option agreement with French mining group Eramet to acquire the Sandouville nickel hydrometallurgical processing facility, in France, for... 

Nickel ore

Gold Fields says interim normalised earnings to rise by up to 38%

By: Donna Slater     Updated 3 hours ago JSE- and NYSE-listed gold miner Gold Fields reports that its basic earnings a share for the six months ended June 30, are expected to be between $0.42 and $0.46 – a year-on-year increase of between 133% and 156%.   The miner’s headline earnings a share for the six months are expected to be... 

TerraCom reports fatality at South Africa mine

By: Reuters     Updated 3 hours ago Australian coal miner TerraCom said on Friday a contractor had died at its South African mine on May 6, leading to an 11-day halt in operations at the time. The company in its production report disclosed that the fatality occurred at its 49%-owned New Clydesdale Colliery mine, but did not give... 

How eight entrepreneurs helped shape the South African economy

30th July 2021 In this exploration of eight famous, and not so famous, South African entrepreneurs, economic historian Stefan Schirmer celebrates the dynamism, tenacity and ingenuity of these individuals, while delving into the complexities of building successful enterprises in a society so deeply scarred by... 

How eight entrepreneurs helped shape the South African economy

Lucara recovers 393 ct diamond at Karowe

By: Donna Slater     Updated 5 hours ago TSX-listed diamond miner Lucara Diamond Corporation has recovered a 393.5 ct top white Type IIa gem-quality diamond from its 100%-owned Karowe diamond mine in Botswana. The diamond was recovered from direct milling of ore sourced from the M/PK(S) unit of the south lobe of the mine. 

A 393.5 ct top white Type IIa gem-quality diamond recovered from Lucara's Karowe diamond mine in Botswana
The 393.5 ct top white Type IIa gem-quality diamond recovered from Lucara's Karowe diamond mine in Botswana

PTM chief resigns

By: Marleny Arnoldi     Updated 5 hours ago TSX- and NYSE-listed Platinum Group Metals (PTM) has announced the resignation of its president, CEO and director Michael Jones, effective immediately. He will continue to consult for the company until the end of the year to provide transition assistance.  

Anglo American, iron-ore export line, PGMs make headlines   

Updated 5 hours ago Mining Weekly Editor Martin Creamer unpacks Anglo American’s record half-year financial performance; Transnet & Kumba Iron Ore working to refurbish the iron-ore export line; and Anglo American Platinum eyeing computing and food technology as areas of opportunity for Platinum Group Metals.   

Anglo American, iron-ore export line, PGMs make headlines

Glencore lowers full-year coal, nickel output guidance

By: Marleny Arnoldi     Updated 17 minutes ago Diversified miner Glencore expects to meet the $3.2-billion top end of its full-year earnings before interest and taxes guidance owing to a strong performance from the company’s marketing business. This was despite the company reporting only modest increases year-on-year in copper production,... 

Glencore's Koniambo operation, in New Caledonia
Glencore's Koniambo operation, in New Caledonia

Ancient sites, sacred snake raise risks for Australian resources

By: Bloomberg     Updated 1 hour 8 minutes ago Sacred sites, endangered sawfish and mythical rainbow serpents are the latest challenges confronting commodities powerhouse Australia as the nation’s top mining companies meet for their biggest annual conference. Since the destruction last year by Rio Tinto Group of a 46 000-year-old Aboriginal... 

A generic image of an openpit mining operation.

Russia mulls pegging tax on mining firms to global metals prices - Interfax

By: Reuters     Updated 1 hour 20 minutes ago Russia is considering pegging a mineral extraction tax (MET) levied on its metals producers to the global price of their products from 2022, the Interfax news agency reported on Friday, citing Deputy Finance Minister Alexei Sazanov. Moscow has been trying to protect its defence and construction... 

Ramaphosa sees big green economy opportunity in ‘bold’ climate commitment 

By: Terence Creamer     Updated 2 hours 5 minutes ago President Cyril Ramaphosa says it is time for South Africa to “grasp the nettle” and embark on a “transformative path” towards a climate-resilient society both to fulfil its moral obligations in the face of an intensifying crisis, but also to seize the economic and job opportunities that are... 

Photo of President Cyril Ramaphosa
President Cyril Ramaphosa

Encounter to spin out gold assets

By: Esmarie Iannucci     Updated 4 hours ago Junior Encounter Resources on Friday unveiled plans to demerge its subsidiary Hamelin Gold into a separately listed entity, holding its West Tanami gold assets. The company told shareholders on Friday that the demerger would attract stronger investor attention and valuation as a standalone,... 

Origin warns of impairment on electricity prices

By: Esmarie Iannucci     Updated 4 hours ago ASX-listed Origin Energy has warned of a A$1.5-billion post tax impairment charge in the 2021 financial year, relating to its Energy Markets division and its generation assets. Furthermore, tax expenses of A$669-million will be reported relating to a deferred tax liability, reflecting the... 

Turquoise Hill's profit beats on strong output, metal prices

By: Reuters     Updated 5 hours ago Canadian miner Turquoise Hill Resources on Thursday beat estimates for second-quarter profit, bolstered by a strong output from the Oyu Tolgoi mine in Mongolia and higher prices of copper and gold. Prices of the red metal hit a record high in May, boosted by demand from electric-vehicle makers... 

An image of the Oyu Tolgoi openpit mine in Mongolia.

Alamos writes down Turkey assets

By: Creamer Media Reporter      Updated 5 hours ago Canadian miner Alamos Gold has reported a second-quarter net loss of $172.5-million, or $0.44 a share, compared with a profit of $11.7-million in the corresponding period, after writing down the entire carrying value of its Turkish assets. Alamos reported an impairment charge of $213.8-million... 

An image of Alamos Gold CEO John McCluskey
Alamos Gold CEO John McCluskey

Matawinie construction kicks off

By: Creamer Media Reporter      Updated 5 hours ago The construction of the Matawinie mine, set to become the Western world’s biggest graphite operation, is under way, developer Nouveau Monde Graphite reported on Thursday. The company has completed site preparation in spring and this month started on-site work as part of a 30-month construction... 

An aerial image of the Matawinie mine site in Quebec.

Yamana to expand Jacobina at fraction of original capital estimate

By: Mariaan Webb     Updated 5 hours ago Canadian gold miner Yamana Gold has significantly lowered the capital expenditure (capex) estimate for the expansion of its Jacobina mine, in Brazil, with the project now expected to cost no more than $15-million to $20-million. This is significantly lower than the original estimate of... 

An image showing a person holding a gold bar.

Gupta pays $25m to end long-running spat with Rio Tinto

By: Bloomberg     Updated 6 hours ago Sanjeev Gupta has paid $25-million to Rio Tinto Group to settle a long-running dispute over the final payment for an aluminum smelter he bought from the mining giant in 2018. The deal was disclosed in the financial accounts of one of Gupta’s holding companies for the smelter, which stated that a... 

An image of Sanjeev Gupta
Sanjeev Gupta

Water crisis threatens iron-ore transport on key Brazil river

By: Bloomberg     Updated 6 hours ago Drought is making one of Brazil’s most important river systems unnavigable, making it more challenging and costly for the commodities powerhouse to get grains and iron-ore out to global markets. The Parana River Basin in central Brazil is experiencing its worst water crisis in 91 years,... 

Vale revises down year-end iron-ore output

By: Reuters     Updated 6 hours ago Vale flagged potential production setbacks on Thursday amid temporary issues at multiple iron-ore mines, but executives said the Brazilian miner was still on track to ramp up output in the second half of the year. In a presentation released on Thursday morning, the world's second largest... 

An image of a mine waste dam and a processing plant in the background.

Workers at Codelco's Andina copper mine turn down contract offer, gird for strike

By: Reuters     Updated 6 hours ago Workers at Chile's Andina copper mine operated by state-owned Codelco turned down the firm's offer for a new collective contract on Thursday, paving the way for a potential strike at the facility, the union told Reuters. A total of 835 members of the Industrial Union of Labor Integration (SIIL)... 

Allegiance raises A$30m for Alabama coal buy

By: Esmarie Iannucci     Updated 6 hours ago ASX-listed Allegiance Coal will acquire US-based family owned Black Warrior Minerals (BWM), which owns the BWM mine in Alabama, having completed a A$30-million capital raise. Under the terms of the agreement, Allegiance would purchase the BWM mine for $4-million in cash and would replace the... 

Western Areas unveils ten-year production plans

By: Esmarie Iannucci     Updated 7 hours ago Nickel miner Western Areas has unveiled production plans for the next decade. In the 2022 financial year, the miner expects to produce between 16 000 t and 17 000 t of nickel in concentrate at unit costs of between A$4.25/lb and A$4.65/lb. 

Qld invests in exploration

By: Esmarie Iannucci     Updated 7 hours ago The Queensland government has awarded A$2.5-million in funding to 16 local companies to support mineral exploration work in the region. “New economy minerals are powering the global energy transition, and we need to make sure Queensland is capitalising by allowing enterprising explorers to seek... 

OceanaGold posts golden quarter

By: Esmarie Iannucci     Updated 7 hours ago Dual listed gold miner OceanaGold has reported an increase in gold production and revenue for the quarter ended June, compared with the first quarter. Gold production in the second quarter reached 93 848 oz, compared with the 83 191 oz produced in the previous quarter, taking half-year... 

Govt expands ARENA footprint

By: Esmarie Iannucci     Updated 7 hours ago The resources sector has welcomed the federal government’s decision to expand the functions of the Australian Renewable Energy Agency (ARENA) to support the next generation of low emissions technologies that will reduce emissions and create new economic opportunities and jobs. New regulations... 

Image shows the Australian coat of arms

Fortescue's FFI strikes hydrogen deal in India

By: Esmarie Iannucci     Updated 7 hours ago Iron-ore major Fortescue’s green energy arm, Fortescue Future Industries (FFI) has entered into a framework agreement with JSW Future Energy, a wholly owned subsidiary of Indian power producer JSW Energy, to explore opportunities to develop green hydrogen projects in India. Under the agreement,... 

BHP adds solar panels to nickel ops

By: Esmarie Iannucci     Updated 7 hours ago Diversified miner BHP on Friday reported that it would build two solar farms and a battery storage system to help power the Mt Keith and Leinster nickel operations. The Northern Goldfields solar project would include a 27.4 MW solar farm at Mt Keith and a 10.7 MW solar farm and 10.1 MW battery... 

Magazine round up | 30 July 2021 

30th July 2021 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.  

Magazine round up | 30 July 2021

Use COP26 to position South Africa as destination of choice for rapid decarbonisation investment – Moosa

By: Terence Creamer     29th July 2021 Deputy chair of South Africa’s Presidential Climate Commission (PCC) Valli Moosa has presented an upbeat assessment of the country’s ability to position itself as a preferred global destination for foreign and domestic decarbonisation investment. Speaking during a hydrogen-focused webinar on... 

Photo of Presidential Climate Commission deputy chair Valli Moosa speaking during a green hydrogen webinar
Presidential Climate Commission deputy chair Valli Moosa speaks during a green hydrogen webinar

Nearly a quarter of Sibanye’s South African employees now vaccinated

By: Marleny Arnoldi     29th July 2021 JSE- and NYSE-listed Sibanye-Stillwater has vaccinated just over 8 500 of its South African employees in the last week, bringing the total number of vaccinated employees to 18 500. About 23% of the company’s 80 000-strong workforce in South Africa are now vaccinated.  

Anglo on trajectory towards becoming minerals solutions provider  

By: Martin Creamer     29th July 2021 Diversified mining and marketing company Anglo American, which shot the lights out on Thursday with the presentation of an all-time record set of half-year results, is on its way to becoming a minerals solutions provider rather than a digger of holes. The London- and Johannesburg-listed Anglo is... 

Anglo American results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Gold Fields vaccinating South Deep mine employees, contractors

By: Simone Liedtke     29th July 2021 Gold miner Gold Fields’ South Deep mine has received permission from the Department of Health to provide on-site vaccinations to all employees and contractors who wish to be vaccinated during the week of July 26 to 31. The vaccination of the workforce is currently under way in line with the... 

thyssenkrupp confirms sale of mining technologies business to FLSmidth

By: Donna Slater     29th July 2021 Diversified industrial group thyssenkrupp has confirmed the sale of its mining technologies business unit to mining engineering, equipment and service solutions company FLSmidth. The sale of the enterprise, valued at €325-million, is an important milestone in the realignment of the thyssenkrupp... 

De Beers bounces back to 2019 levels with outstanding performance  

By: Martin Creamer     29th July 2021 Global consumer demand for diamonds continued to recover from the impact of Covid, supported by fiscal stimulus in the US and the roll-out of vaccines, De Beers Group said on Thursday when it was credited with helping Anglo American to achieve an all-time record half-year, a period in which De... 

De Beers Group CFO Sarah Kuijlaars interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

IAMGOLD completes Phase 1 drilling at Faré prospect

By: Donna Slater     29th July 2021 West Africa-focussed explorer Oriole Resources, which manages activities at the Faré prospect at the Senala project in a joint venture with IAMGOLD, reports that IAMGOLD has completed its Phase 1 drilling programme at the prospect. The programme included 689.5 m of diamond drilling and 4 854 m... 

Kinross advances $150m Manh Choh project to feasibility stage

By: Mariaan Webb     29th July 2021 Canadian miner Kinross has competed an initial scoping study for its 70%-owned Manh Choh project, in Alaska, and this $150-million project is now proceeding to a feasibility study. Except for capital estimate, the results of the scoping study are largely in line with the estimates at the time... 

Drilling under way at a project site in Alaska

Alrosa invests 8% of revenue on ESG

By: Creamer Media Reporter      29th July 2021 Russia’s Alrosa has invested 15.8-billion ruble ($216-million) in social and environmental initiatives in 2020. “The company retained its leadership position for ESG investments in the diamond industry in 2020, contributing around 8% of our total revenue,” says CEO Sergey Ivanov. 

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De Beers bounces back to 2019 levels with outstanding performance

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