R/€ = 18.17 Change: -0.16
R/$ = 16.11 Change: -0.17
Au 1775.34 $/oz Change: 4.39
Pt 935.39 $/oz Change: -7.11

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Exploration debate highlights Nema challenge  

By: Martin Creamer     Updated 2 hours 8 minutes ago The withdrawal of a portion of the National Environmental Management Act (Nema) has created a major challenge for mineral exploration in South Africa, the Industrial Development Corporation (IDC) co-sponsored exploration webinar highlighted on Thursday. Taking part in the panel discussion under... 

IDC co-sponsored webinar covered by Mining Weekly.

Venetia’s transition to underground mine about 54% complete, says De Beers 

By: Simone Liedtke     3rd December 2021 Diamond miner De Beers Group’s $2.2-billion Venetia Underground Project (VUP) is nearing 54% completion. The VUP is designed to transition the mine from an openpit to an underground operation and, in so doing, extend the mine life by 23 years to 2046. 

Pic of Venetia's underground project

Nersa ordered by court to decide Eskom’s 2022/23 tariff by Feb 25 

By: Terence Creamer     Updated 4 hours ago Judge Jody Kollapen has ordered that Eskom’s revenue application for the 2022/23 financial year be decided by the National Energy Regulator of South Africa (Nersa) by February 25 and that it be adjudicated in line with the multiyear pricing determination (MYPD) methodology published in 2016. The... 

Eskom presenting at a previous revenue application hearing
Photo by Creamer Media
Eskom presenting at a previous revenue application hearing

West Wits adds to WBP resource

By: Esmarie Iannucci     3rd December 2021 Junior West Wits Mining has reported a 724 000 oz increase in the resource base at its Witwatersrand Basin project (WBP), in South Africa. The ASX-listed company on Friday reported a Joint Ore Reserves Committee complaint resource estimate of some 4.28-million ounces at WBP, grading at 4.58 g/t... 

Sibanye confirms death of four employees

By: Simone Liedtke     Updated 1 hour 52 minutes ago JSE- and NYSE-listed Sibanye-Stillwater has confirmed that four employees had been killed in two separate incidents on December 3. At about 02:30, a colleague at the Khuseleka shaft, at the Rustenburg operations, passed away in a fall-of-ground incident which occurred while he was barring down... 

PGI notes uptick in consumer sentiment for precious jewellery in most markets

By: Simone Liedtke     Updated 2 hours ago Expected spending on precious jewellery has increased year-on-year, with the average expenditure on precious jewellery having grown in the third quarter, compared with the same quarter the previous year. This was supported by double-digit increases in the average expected self-buying of... 

Ivanhoe says African operations not yet affected by new Covid-19 variant

By: Simone Liedtke     3rd December 2021 The new variant of the Covid-19 virus, Omicron, has, so far, had no impact on any of TSX-listed Ivanhoe Mines’ mining or mine development operations in South Africa or the Democratic Republic of Congo (DRC). In a statement on December 2, the Canadian miner confirmed that no cases of the new... 

Kenmare appoints Andrew Webb as chairperson designate

By: Simone Liedtke     Updated 7 hours ago LSE-listed Kenmare Resources has appointed Andrew Webb nonexecutive director and chairperson designate. Webb was appointed to the board on December 2 and is expected to succeed Steven McTiernan as chairperson. McTiernan will step down from the board following the company’s 2022 annual general... 

Gold set for third weekly loss as faster tapering talks weigh

By: Reuters     Updated 2 hours 52 minutes ago Gold prices were set for their third straight weekly loss despite being steady on Friday, as US Federal Reserve Chair Jerome Powell's comments that pandemic-era asset purchases could end sooner than previously anticipated dented bullion's appeal. Spot gold was up 0.1% at $1 770.80 per ounce by... 

South Deep builds, equips science lab at Westonaria school

By: Creamer Media Reporter      Updated 2 hours 45 minutes ago Gold miner Gold Fields' South Deep Mine has built and equipped a science laboratory at the TM Letlhake Secondary School, at Simunye, in Westonaria. Westonaria, on the West Rand, is the municipality in which South Deep is located. TM Letlhake is the only secondary school in the area and is... 

Akobo proud of having been shortlisted for ESG award

By: Creamer Media Reporter      Updated 3 hours ago Exploration company Akobo Minerals was shortlisted as Environmental, Social and Governance (ESG) Explorer/Developer Mining Company of the Year at this week’s Mines & Money London, the premier European forum for mining investment and capital raising. Organisations were considered based on how well... 

Renewables and Implats acquiring RBPlat shares make headlines   

3rd December 2021 Mining Weekly Editor Martin Creamer unpacks: Anglo American is urging the use of renewables to cut carbon and create hydrogen and then using that hydrogen to replace diesel. South Deep will increase its 40 MW solar power project to 50 MW after it procured more efficient solar panels. Impala... 

Renewables and Implats acquiring RBPlat shares make headlines

Zinc prices seen solid over European winter on likely smelter shutdowns

By: Reuters     Updated 2 hours 19 minutes ago Zinc prices are due to remain firm over coming months on the potential for soaring power costs causing more disruptions at smelters, keeping supply and inventories tight. Benchmark zinc prices on the London Metal Exchange have shed about a fifth since surging to a 14-year peak in mid-October... 

Trevali wraps up Santander sale

By: Creamer Media Reporter      Updated 2 hours 20 minutes ago Vancouver-headquartered Trevali has closed the transaction with Cerro De Pasco Resources (CDPR) to sell its Santander mine, in Peru. The TSX-listed miner said on Friday it had received ten-million shares of CDPR, C$1-million in cash and a 1% net smelter return royalty on certain areas of the... 

MMG to cease production at Peru copper mine

By: Mariaan Webb     Updated 4 hours ago Hong Kong-listed MMG will start winding down mine operations at the Las Bambas copper mine, in Peru, and production will cease by the middle of this month, the company said on Friday. This comes as transport to and from the mine remains restricted, owing to community blockades on public roads in... 

An image of the Las Bambas operation
Las Bambas is one of the world's biggest copper mines.

Coal India auction to non-power sector up sharply

By: Reuters     Updated 6 hours ago State-run Coal India auctioned 3.2-million tonnes of coal exclusively for the non-power sector in November, a senior company official said, more than five times the volume auctioned a year earlier and about eight times the allocation in September. Coal India had temporarily paused auctions of... 

Billionaire Adani’s disputed mine shows ditching coal isn't easy

By: Bloomberg     Updated 6 hours ago Billionaire Gautam Adani’s coal mine in Australia, a project that’s become a global emblem for opposition to fossil fuels, is preparing to begin exports after more than a decade of bitter dispute over its development. Proposed in 2010 and stalled by legal challenges, financing setbacks and a... 

London copper falls on fears of Sino-US tensions, China inventory glut

By: Reuters     Updated 6 hours ago London copper eased on Friday, hit by Asian stock markets turning risk averse on concerns over Sino-US ties after ride-hailing giant Didi announced delisting in New York and signs of rising inventories in top consumer China. Three-month copper on the LME was down 0.5% at $9 460.5 a tonne, as of... 

Hochschild spin-off Aclara to start trading next week

By: Mariaan Webb     Updated 7 hours ago Rare earths junior Aclara Resources, a spinoff from Hochschild Mining, has been approved for a listing on the TSX and expects to begin trading on the bourse on December 10, it said on Thursday. Aclara will issue 35-million shares of the company at C$1.70 each for gross proceeds of C$59.5-million. 

SSR's Taiga acquisition underscores Seabee commitment

By: Mariaan Webb     Updated 7 hours ago Gold mining company SSR Mining will acquire the shares of Taiga Gold, expanding its presence in Saskatchewan by adding five new properties that provide exploration targets stretching south from the Seabee mine to the Amisk property. The transaction, announced on Thursday, will consolidate 100%... 

An image of the Seabee gold mine in Saskatchewan
The Seabee gold mine in Saskatchewan

China plans to raise long-term coal prices in 2022 after squeeze

By: Bloomberg     3rd December 2021 China plans to raise the benchmark price for long-term coal contracts in 2022 after a supply scare earlier this year, adding to inflationary pressures faced by manufacturers. The National Development and Reform Commission will set the benchmark rate for thermal coal at 700 yuan ($110) a ton for... 

As Freeport converts mining trucks to green power, costs unclear

By: Reuters     3rd December 2021 Copper mining giant Freeport-McMoRan is converting its fleet of diesel trucks and other machinery to electric or hydrogen power, a transition required to fight climate change even though the costs are not yet known, CEO Richard Adkerson said in an interview at the Reuters Next conference. The... 

Peru says IMF sees leeway to hike taxes on mining sector - Finance Ministry

By: Reuters     3rd December 2021 Peru's Finance Ministry said on Thursday that International Monetary Fund officials had concluded there is leeway in the country's tax system for a reform to include higher taxes on the key mining sector. Peru is the world's No. 2 copper producer and hiking mining taxes is a cornerstone of... 

ERF effectiveness continues to grow - govt

By: Esmarie Iannucci     3rd December 2021 The federal government on Friday said that the Emissions Reduction Fund (ERF) continued to grow, with around one-in-six of the 1 074 projects registered this year. Minister for Industry, Energy and Emissions Reduction Angus Taylor said the ERF was an essential part of the government’s Long Term... 

Australian exports surge despite Covid

By: Esmarie Iannucci     3rd December 2021 Despite a challenging 12 months, Australia’s resources and energy exports continue to surge, according to the latest trade data from the Australian Bureau of Statistics (ABS). Minister for Resources and Water Keith Pitt said the ABS’ International Trade in Goods and Services data for October... 

Three new hydrogen clusters identified

By: Esmarie Iannucci     3rd December 2021 Three new regional hydrogen technology clusters have been identified in Queensland and Western Australia, to further support the development of Australia’s future clean hydrogen industry. The new clusters will operate under the Hydrogen Technology Cluster Australia (H2TCA) programme, an... 

Image shows hydrogen container and wind turbines

Ramelius starts compulsory acquisition of Apollo

By: Esmarie Iannucci     3rd December 2021 Gold miner Ramelius Resources has reached a 90.82% acceptance mark for its takeover in fellow-listed Apollo Consolidated. Ramelius is offering 34c a share in cash and 0.1778 Ramelius shares for each Apollo shares held, valuing Apollo shares at 62c each.  

Focus raises funds to restart Coolgardie

By: Esmarie Iannucci     3rd December 2021 Gold hopeful Focus Minerals has announced a A$45.69-million capital raise, as well as plans to resume gold mining at the Coolgardie operations, in Western Australia. The ASX-listed company on Friday announced plans for a one-for-one non-renounceable entitlement offer, at an issue price of 25c a... 

Sunrise awarded major project status

By: Esmarie Iannucci     3rd December 2021 The Australian government has granted ASX-listed Sunrise Energy Metals 'major project' status for its A$2.4-billion Sunrise Battery Materials Complex project, in New South Wales. The Sunrise project is Australia’s biggest and most advanced battery materials project and contains the world’s... 

Magazine round up | 03 December 2021 

3rd December 2021 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.  

Magazine round up | 03 December 2021

Glencore reiterates coal rundown, just transition commitments

By: Martin Creamer     2nd December 2021 Diversified mining and marketing company Glencore on Thursday unequivocally stuck to its climate-change strategy of running down its coal 15% by 2026 and 30% by 2035, ahead of being net zero by 2050. “That’s written in stone,” Glencore CEO Gary Nagle told journalists during a media conference,... 

Picture supplied
Glencore CEO Gary Nagle

Panel stresses need for action to save South Africa’s exploration potential 

By: Simone Liedtke     2nd December 2021 The Industrial Development Corporation (IDC) has approved and availed R100-million in funding to assist in closing the different funding model gaps in South Africa’s exploration sector. In collaboration with the Department of Mineral Resources and Energy (DMRE), it is working towards the... 

Core drilled during exploration

Climate change mitigation is about more than just emission reduction, says the RMF

By: Marleny Arnoldi     2nd December 2021 Even though mining companies’ commitments to become carbon neutral are commendable and important, emission reduction is but one element of a responsible response to climate change, says independent research organisation the Responsible Mining Foundation (RMF). Research by the RMF reveals that... 

Chilean top copper miners see output drop in October

By: Reuters     2nd December 2021 Chile's Codelco, the world's largest copper miner, saw output in October drop 9.9% year-on-year to 144 100 t, Chilean State copper commission Cochilco said on Thursday. BHP's Escondida, the world's largest copper mine, saw production fall 15.2% year-on-year to 84 700 t in the same month. 

Jubilee upbeat about outlook for copper, PGM markets

By: Simone Liedtke     2nd December 2021 Metals processor Jubilee Metals Group sees a rosy outlook for the copper and platinum group metals (PGM) markets in the years ahead. “The outlook for copper, in particular, remains buoyant, with many predictions that 2030 will see a doubling in demand for copper. I for one, see the supply side... 

Newmont forecasts higher gold production next year

By: Mariaan Webb     2nd December 2021 US-based major Newmont expects its gold production to increase to 6.2-million ounces next year, helped by higher output at Boddington, in Australia, and Ahafo, in Ghana. Production at Boddington is benefiting from higher gold and copper grades, as well as efficiency improvements from autonomous... 

An image of Newmont CEO Tom Palmer
Newmont CEO Tom Palmer

Platinum bullion continues to enjoy investor interest

By: Marleny Arnoldi     2nd December 2021 Precious metals bullion exchange BullionVault has reached an investment landmark in that its clients’ platinum holdings have hit the 2 t mark, worth almost $65-million at current prices. While gold took the lion’s share of precious metals investment since January 2020, platinum investing has... 

Minerals Council, SAAFF outline requirements to get Lebombo/Ressano Garcia border congestion resolved

By: Donna Slater     2nd December 2021 With delays at the Lebombo/Ressano Garcia border post on the Maputo corridor between South Africa and Mozambique having cost trucking companies R1.3-billion in lost revenue this year, the South African Association of Freight Forwarders (SAAFF) and the Minerals Council South Africa have requested... 

An image of freight trucks lining up for several kilometres on the N4 towards Komatipoort in South Africa
Photo by Creamer Media's Donna Slater
Freight trucks lining up for several kilometres on the N4 towards the Lebombo/Ressano Garcia border post in South Africa

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Use renewables to cut carbon and create hydrogen, use hydrogen to cut diesel – Cutifani

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