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Seriti wholeheartedly backs continued use of coal in energy mix 

By: Marleny Arnoldi     27th May 2022 Recent developments in the global energy landscape have seen a rise in environmental, social and governance pressures on coal and calls for an “all or nothing” approach to the long-term future of coal, which coal miner Seriti Resources CEO Mike Teke said is leaving many stakeholders confused. As... 

Seriti Resources CEO Mike Teke
Seriti Resources CEO Mike Teke

More arrests expected in corruption case against Gama and other ex-Transnet officials  

By: News24Wire      27th May 2022 Former Transnet CEO, Siyabonga Gama, who is among the five people accused of R93-million fraud and corruption in a case relating to the procurement of 1 064 locomotives by the State-owned freight rail company, was released on R50 000 bail following his arrest on Friday. Gama is facing charges... 

Former Transnet CEO Siyabonga Gama
Photo by Creamer Media
Former Transnet CEO Siyabonga Gama

Competition Commission recommends approval of ARM’s Bokoni acquisition

By: Donna Slater     27th May 2022 The Competition Commission has recommended that the Competition Tribunal approve the proposed acquisition of platinum group metals (PGMs) miner Bokoni Platinum by special purpose vehicle African Rainbow Minerals (ARM) Bokoni, subject to public interest conditions. The commission found that the... 

Implats' buyout of RBPlat extended after Northam intervenes in competition proceedings

By: Donna Slater     27th May 2022 Platinum group metal miners Impala Platinum (Implats) and Royal Bafokeng Platinum (RBPlat) have informed their respective shareholders that the proposed deal whereby Implats intends to acquire all the shares in RBPlat it does not already own is likely to be delayed. The transaction has received... 

Northam completes R2.06bn note placement

By: Donna Slater     27th May 2022 As part of its R15-billion domestic medium-term note programme, JSE-listed platinum group metals miner Northam Platinum has completed a private placement of new domestic medium-term notes to the value of about R2.06-billion. The programme has thus far effectively extended the maturity of the... 

Barrick makes major Tanzania social, skills and infrastructure commitment

By: Creamer Media Reporter      27th May 2022 Canada-headquartered bullion major Barrick Gold on Friday announced that it would spend $6 for every ounce of gold sold by its two mines in Tanzania on improving healthcare, education, infrastructure and access to potable water in the surrounding communities. At the same time, the miner has... 

Bulyanhulu has been resuscitated as a long-life underground mine.

Gemfields achieves highest ever revenue with May emerald auctions, netting $43.3m

By: Donna Slater     27th May 2022 A series of five sequential mini-auctions of emeralds held by gemstone miner Gemfields from May 9 to 26 saw all 38 lots on offer being sold and set a new record for the highest revenue and the highest average price a carat achieved, at $43.3-million and $155.90/ct, respectively. Gemfields has... 

Hummingbird working to bring second asset into production following 2021 losses

By: Darren Parker     27th May 2022 Aim-listed Hummingbird Resources has reported a diluted loss a share of $2.78c for the financial year ended December 31, 2021, compared with the earnings a share of $5.02c reported for the 2020 financial year. Hummingbird currently has two core gold projects, the producing Yanfolila gold mine, in... 

Yanfolila gold mine in Mali
Yanfolila gold mine in Mali

Aura deploys drill rig to Tiris, Mauritania

By: Darren Parker     27th May 2022 ASX- and Aim-listed Aura Energy has announced that a diamond drill rig has been mobilised from Mauritanian capital city Nouakchott to its 85%-owned Tiris uranium project to begin the 10 000 m infill drilling programme, with results expected in the fourth quarter.   The diamond drilling will... 

Billionaire’s seized mines pose quandary for new Zambian leader

By: Bloomberg     27th May 2022 Zambia’s new business-friendly president faces a dilemma: risk a political backlash by returning mining shafts seized from an Indian company his mines minister once labeled as the nation’s worst-ever investor, or prolong a three-year legal dispute over one of its most important assets. Hakainde... 

Brikor posts nets loss as bricks revenue rises but coal revenue falls

By: Schalk Burger     27th May 2022 JSE-listed bricks manufacturer and coal supplier Brikor, for the financial year ended February 28, reported the highest revenue in five years in its bricks segment, at R195.1-million. That represents a 34.6% year-on-year increase in revenue for the bricks segment. 

Hydrox, universal energy carrier, AfriTin make headlines   

27th May 2022 Mining Weekly Editor Martin Creamer Hydrox Holdings's advanced alkaline electrolyser; Hydrogen's potential to become a universal energy carrier; and AfriTin's lithium pilot plant in Namibia.   

Hydrox, universal energy carrier, AfriTin make headlines

Glencore’s oil-price rigging puts spotlight back on benchmarks

By: Bloomberg     27th May 2022 Glencore's settlement with US prosecutors has cast fresh light on manipulation of an under-the-radar part of the commodities world that’s crucial for valuing physical deals and derivatives. The raw-materials giant this week agreed to plead guilty to rigging fuel-oil assessment prices after... 

SilverCrest starts commissioning at Las Chispas

By: Creamer Media Reporter      27th May 2022 Ausenco Engineering Canada has completed construction of the Las Chispas processing plant, in Mexico, and handed it over to SilverCrest Metals, the Canada-based precious metals company reported on Thursday. Other construction activities handled directly by SilverCrest, including road, bridge, dry... 

Equinox and Sandstorm launch new royalty company

By: Mariaan Webb     27th May 2022 Toronto-listed companies Equinox Gold and Sandstorm Gold on Thursday announced the creation of a new diversified metals royalty company, with assets in the Americas and Europe­. Equinox Gold and Sandstorm have entered into definitive purchase and sales agreements with Rosedale Resources, whereby... 

Electra advances cobalt refinery, says project budget at risk

By: Mariaan Webb     27th May 2022 Cost pressures emerging from systematic inflation, constrained global supply chains and the sanctions on trade with Russia have put the capital budget of Electra Battery Metals’ cobalt refinery, in Ontario, at risk. The TSX- and Nasdaq-listed company said on Thursday that project cost inputs,... 

Sigma Lithium doubles production target at Brazil mine - CEO

By: Reuters     27th May 2022 Canadian miner Sigma Lithium has more than doubled its target production rate at its Brazilian lithium mine, set to begin production in December, valuing the mine at $5.1-billion, co-chief executive Ana Cabral told Reuters on Thursday. Cabral said the mine will begin operations with a target of... 

Former Transnet CEO Siyabonga Gama arrested

By: News24Wire      27th May 2022 Five former Transnet officials have been arrested by the Hawks and the National Prosecuting Authority's Investigating Directorate on Friday morning on charges of fraud, corruption and money laundering. News24 has established that two of the five include former Transnet CEO Siyabonga Gama and Eric... 

Former Transnet CEO Siyabonga Gama
Photo by Creamer Media
Former Transnet CEO Siyabonga Gama

Talga grows graphite resource in Sweden

By: Esmarie Iannucci     27th May 2022 ASX-listed Talga has reported a 54% increase in the resource estimate for its Vittangi graphite project, in Sweden, adding more than 10-million tonnes to Europe’s largest graphite resource. The Vittangi project is now estimated to host a mineral resource of some 30.1-million tonnes of graphite... 

Aus ready to meet Korean gas demand - Santos

By: Esmarie Iannucci     27th May 2022 Australia’s gas sector could benefit greatly from Korea’s decarbonising efforts, oil and gas major Santos said. Speaking at the Korean Government Energy Summit, Santos MD and CEO Kevin Gallagher noted that Korea’s proposed measures to cut particle emissions by restricting around one-quarter of... 

POSCO Chemical plans to invest in $633m battery materials plant with GM

By: Reuters     27th May 2022 South Korea's POSCO Chemical said on Friday it plans to invest in a $633-million battery cathode materials plant in Canada with U.S. automaker General Motors Co (GM). The South Korean materials maker said in a regulatory filing that it plans to invest $278-million through September 2024 on the... 

Yancoal facing $1.8bn takeover from shareholder

By: Esmarie Iannucci     27th May 2022 ASX-listed Yancoal has gone into a trading halt after its major shareholder Yankuang Energy Group Company announced plans to acquire the remaining 37.7% of the company to the Hong Kong Stock Exchange. Yankuang Energy Group is considering offering Yancoal shareholders convertible bonds worth... 

Sayona raises A$190m for NAL's start in 2023

By: Esmarie Iannucci     27th May 2022 Lithium developer Sayona Mining on Friday announced a successful A$190-million institutional placement to fund the 2023 restart of its North American Lithium (NAL) operations in Québec. Sayona told shareholders that it had received firm commitments for the placement of more than one-billion... 

Image shows stacked coins

Magazine round up | 27 May 2022 

27th May 2022 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.  

Magazine round up | 27 May 2022

Workers at Rusal's Guinea bauxite mine go on strike

By: Reuters     26th May 2022 Workers at Russian aluminium giant Rusal's Guinea subsidiary Compagnie des Bauxites de Dian Dian (Cobad) went on strike on Thursday, a union leader told Reuters. Rusal did not immediately reply to a request for comment, and it was not immediately clear whether production at the Cobad bauxite mine... 

Amplats signs five-year wage agreement with three unions

By: Marleny Arnoldi     26th May 2022 JSE-listed Anglo American Platinum (Amplats) has signed a five-year wage agreement with three of its four recognised unions. The wage agreement, which will be implemented from July 1, will result in an average 6.6% increase in employees’ cost-to-company salary every year over the five-year... 

NUM frustrated at exclusion from Mpumalanga energy summit

By: Yvonne Silaule     26th May 2022 The National Union of Mineworkers (NUM) has expressed its frustration at not having been invited to participate in a two-day energy summit held in eMalahleni, Mpumalanga, earlier this week. The union says the Mpumalanga government had undermined it as a key stakeholder in the just energy... 

Kenmare paid Mozambique govt $15.41m in taxes, royalties in 2021

By: Donna Slater     26th May 2022 LSE-listed mineral sands miner Kenmare Resources paid $15.41-million to the government of Mozambique as part of its tax, royalties and fees payments for 2021. Kenmare operates the Moma titanium minerals mine, on the north east coast of Mozambique. It contains deposits of heavy minerals,... 

South Africa must reform its regulatory environment, make itself investor-friendly – simple  

By: Martin Creamer     26th May 2022 South Africa must reform its regulatory environment and make itself investor-friendly – simple. That is the straight-forward view of Dr Mathews Phosa, who was speaking to Mining Weekly in his capacity as the non-executive vice-chairperson of the high-flying Jubilee Metals Group plc, a London Aim-... 

Jubilee's Dr Mathews Phosa interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Sovereign Metals to publish ESG framework soon

By: Marleny Arnoldi     26th May 2022 ASX- and Aim-listed Sovereign Metals has taken what it deems proactive steps to establish an environment, social and governance (ESG) framework poised to position it as an industry leader on corporate social responsibility in Malawi, where it is developing the Kasiya rutile project. MD Dr... 

Aton starts 5 000 m drilling programme at Hamama West

By: Donna Slater     26th May 2022 TSX-V-listed gold explorer Aton Resources started reverse circulation drilling at its Hamama West gold/silver project on May 25 as part of a programme expected to take between two to three months to complete. Located in the company’s fully-owned Abu Marawat concession, in the Eastern Desert of... 

Glencore says its bribery days are over. Now it has to prove it

By: Bloomberg     26th May 2022 Glencore has closed the “cash desks” in London and Switzerland that once dispensed money for bribes. Employees implicated in sweeping, cross-border corruption investigations are gone. New safeguards are in place, and boss Gary Nagle says it’s a “different company.” Now he will have to prove it.... 

An image of the Glencore sign

China’s slumping economy to cut coal use even as output swells

By: Bloomberg     26th May 2022 China’s demand for thermal coal is likely to keep falling through the rest of the first half, as virus restrictions continue to mire the economy in a deep slump. Alongside measures to boost output and build stockpiles, that’ll give China a better chance of satisfying peak power demand over the... 

Copper extends losses on fears of a global recession

By: Reuters     26th May 2022 Copper prices fell for a third day in a row on Thursday and tin slumped to a one-week low as a gloomy economic outlook for top metals consumer China fanned concerns about a global recession, though a soft US dollar lent some support. Three-month copper on the London Metal Exchange was down 0.3%... 

Copper extends losses on fears of a global recession

Tharisa reports higher interim production, revenue

By: Darren Parker     26th May 2022 JSE-listed integrated resources group Tharisa has reported a “cash-generative performance” and an increase in production for the six months ended March 31, despite material increases in one of the company’s major input costs – diesel – which continues to rise. Tharisa has positioned itself in the... 

Atlantic almost doubles size of Ewoyaa drill programme

By: Marleny Arnoldi     26th May 2022 Aim-listed Atlantic Lithium has mobilised three additional drill rigs at the Ewoyaa lithium project, in Ghana, including a diamond core drill rig that is due to arrive on site soon. To date, 9 166 m of reverse circulation drilling has been completed, with assays pending for 52 holes.  

Sierra Madre buys La Guitarra from First Majestic

By: Creamer Media Reporter      26th May 2022 TSX-V-listed Sierra Madre Gold and Silver on Wednesday announced that it would buy the high-grade, past-producing underground La Guitarra silver/gold mine, in Mexico, from First Majestic Silver. The fully permitted La Guitarra mine and 500 t/d mill would advance Sierra Madre’s goal towards... 

Jubilee appoints Oliveira as successor to chair Bird

By: Marleny Arnoldi     26th May 2022 Aim- and AltX-listed Jubilee Metals has appointed Manuel Lino Silva de Sousa Oliveira (Ollie) as independent nonexecutive director, effective immediately, and as independent nonexecutive chairperson, effective June 1. He will succeed nonexecutive chairperson and founder Colin Bird, who decided... 

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Hydrox, universal energy carrier, AfriTin make headlines

Magazine round up | 27 May 2022

South Africa must reform its regulatory environment, make itself investor-friendly – simple

Resources Watch

Platinum-boosted South African hydrogen electrolyser leaps ahead

Don’t Digitise Your Rubbish: Integrate, Simplify, and Systematise Your Operations – Andy Sherring

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