R/€ = 16.97 Change: -0.02
R/$ = 16.69 Change: -0.02
Au 1762.99 $/oz Change: -10.16
Pt 923.53 $/oz Change: -8.47

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Orion raises $1.35m with strong South African support 

By: Martin Creamer     17th August 2022 Copper and zinc mine development company Orion Minerals has raised raised $1.35-million under its share purchase plan, with strong support from shareholders, particularly those in South Africa. The share purchase plan of the Sydney- and Johannesburg-listed company, headed by CEO Errol Smart,... 

Orion CEO Errol Smart.
Photo by Creamer Media
Orion CEO Errol Smart.

Sibanye-Stillwater signals half-year earnings decline 

By: Martin Creamer     17th August 2022 Precious and future-facing metals mining company Sibanye-Stillwater on Wednesday advised of an upcoming half-year earnings decline in a trading statement and operations update for the six months to June 30. A decline of 47% to 52% is expected in earnings per share and headline earnings per share... 

Sibanye-Stillwater CEO Neal Froneman.
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman.

DRDGold expecting lower earnings on better-than-guided production 

By: Martin Creamer     17th August 2022 Surface gold mining company DRDGold expects to report lower earnings on better-than-guided production and lower capital investment. In the 12 months to June 30, DRDGold produced 183 902 oz of gold at a cash operating cost of R600 875/kg, with a capital investment of R584.1 million. 

DRDGold CEO Niel Pretorius
DRDGold CEO Niel Pretorius

Transnet seeks court order compelling CRRC to release spares for 120 idle locomotives 

By: Terence Creamer     17th August 2022 State-owned freight logistics group Transnet has launched a High Court application through which it is seeking an order compelling China Railway Rolling Stock Corporation (CRRC) E-Loco Supply to release spare parts and components required to return 120 locomotives to service. Transnet said in a... 

A Transnet Freight rail locomotive
Photo by Creamer Media
A Transnet Freight rail locomotive

Tribunal approves ARM, Bokoni merger

By: Marleny Arnoldi     17th August 2022 The Competition Tribunal has approved a large merger between a subsidiary of African Rainbow Minerals (ARM) and Bokoni Platinum, which ARM recently acquired from platinum miners Anglo American Platinum and Atlatsa Resources Corporation for a cash consideration of R3.5-billion. The tribunal has... 

Gem Diamonds on track to meet full-year guidance despite challenges

By: Marleny Arnoldi     17th August 2022 London-listed Gem Diamonds recovered 55 157 ct of diamonds in the six months ended June 30, compared with the 56 504 ct recovered in the prior half-year period. Diamond sales of 57 075 ct were, however, higher than the 54 573 ct sold in the prior comparable period.  

Goldplat achieves strong fourth-quarter operational performance

By: Tasneem Bulbulia     17th August 2022 Aim-listed Goldplat’s two gold recovery operations, located in South Africa and Ghana, delivered another strong combined operating performance and achieved a combined operating profit for the quarter ended June 30 of almost £2-million, which represents an 83% increase compared with the quarter... 

Strong market conditions underpin Kenmare’s solid interim performance

By: Tasneem Bulbulia     17th August 2022 Global titanium minerals and zircon producer Kenmare Resources increased its interim dividend for the six months ended June 30 to just under $0.11 apiece, on the back of strong market conditions for all of its products, MD Michael Carvill tells Mining Weekly. This was a 51% increase compared with... 

Congo PM to mediate dispute over Tenke copper and cobalt mine

By: Reuters     17th August 2022 Democratic Republic of Congo's prime minister expects to host talks between China's CMOC and State miner Gecamines in the coming days over a dispute at their Tenke Fungurume copper and cobalt project, his office said on Wednesday. Exports from the mine, which accounted for more than 10% of global... 

Pensana appoints Alison Saxby as independent nonexecutive director

By: Tasneem Bulbulia     17th August 2022 London-listed Pensana has appointed Alison Saxby as independent nonexecutive director, with effect from August 17. Saxby is noted to be an industry leading expert with over 35 years of experience in industrial minerals and metals. 

Kazera receives second payment of $400 000 in lithium deal

By: Darren Parker     17th August 2022 Aim-listed investment company Kazera Global has received the second payment of $400 000 in accordance with the terms of a deal signed with Chinese company Hebei Xinjian Construction, as announced on July 20. Under the terms of the deal, Kazera will receive a $7.5-million investment from Hebei in... 

Newcrest signs up for Oregon and Nevada earn-in options

By: Creamer Media Reporter      17th August 2022 Australian gold miner Newcrest has entered four separate option and earn-in agreements with CSE-listed Headwater Gold, pursuant to which the major would have an option to acquire up to a 75% interest in projects in Oregon and Nevada. Newcrest would earn its interest in the Mahogany project, in... 

Manitou to spin out nickel/cobalt/PGE commodities

By: Creamer Media Reporter      17th August 2022 The board of directors of Manitou Gold has approved the strategic reorganisation of its assets, with the proposed spin out of its nickel/cobalt/platinum group element (PGE) commodities from its Goudreau project, in northern Ontario, into a new subsidiary. The spin-out, to be named Western... 

Newcrest withdraws from Cornerstone option in Chile

By: Creamer Media Reporter      17th August 2022 Australian gold miner Newcrest Mining will wind down activities at the Miocene concessions in Chile, after notifying Cornerstone Capital Resources of its intention to withdraw from an option and farm-in agreement. The agreement targeted epithermal gold/silver and porphyry gold/copper deposits... 

Newmont appoints Toth as chief strategy, sustainability officer

By: Mariaan Webb     17th August 2022 Leading gold company Newmont on Wednesday announced Peter Toth as chief strategy and sustainability officer. His appointment followed the retirement of  chief sustainability and external affairs officer Stephen Gottesfeld after 25 years of service to the company. Last year, Newmont announced... 

China hikes 2022 rare earth quota by 25% on rising demand

By: Reuters     17th August 2022 China raised its annual rare earth mining output quota by a quarter to a fresh record high in the wake of rising global demand. China is the world's dominant producer of rare earths, a group of 17 minerals used in everything from consumer electronics to military equipment. The quotas are closely... 

Investment demand to lift India's silver imports to record high

By: Reuters     17th August 2022 India's silver imports are set to triple in 2022 from a year ago to record highs after a dip in prices to 2-year lows spurred investors to bet that the metal was primed for a rebound and could outperform gold in the coming years. Higher demand in India, the world's biggest silver consumer, could... 

Northern Cape level crossing incident results in damage to rail track, equipment

By: Schalk Burger     17th August 2022 The railway track and overhead track equipment at the Glosam level crossing, in the Northern Cape, sustained significant damage when a truck collided with a train owned and operated by State-owned Transnet Freight Rail (TFR), on August 16. TFR reports that there were no injuries, but says the... 

Qld royalty hike puts exploration at risk - Macfarlane

By: Esmarie Iannucci     17th August 2022 The Queensland Resources Council (QRC) has warned that the state’s mineral exploration sector would also be put at risk with the coal royalty hike. QRC CEO Ian Macfarlane told the Queensland Exploration Council’s (QEC's) yearly Tech Summit in Brisbane, that the exploration industry was right to... 

Magna Mining buys Lonmin Canada

By: Mariaan Webb     17th August 2022 Explorer and developer Magna Mining on Tuesday announced the acquisition of Lonmin Canada from Sibanye-Stillwater and Wallbridge Mining for C$16-million, handing the company the Denison project, in Sudbury, Ontario. CEO Jason Jessup said that the closing of the transaction would be... 

Magna Mining buys Lonmin Canada

BHP presses pause on Queensland coal investments after 'sudden' royalty hike

By: Esmarie Iannucci     17th August 2022 Diversified miner BHP is "reassessing" future investments into Queensland coal, following a royalty hike earlier this year. The company said this week that its metallurgical coal operations, BMA, was unable to provide sustaining capital expenditure guidance for the 2023 financial year. 

BHP presses pause on Queensland coal investments after 'sudden' royalty hike

Nickel Industries signs term sheet for battery solar project

By: Esmarie Iannucci     17th August 2022 ASX-listed Nickel Industries has signed a binding term sheet for a 200 MWp + 20 MWh battery solar project within the Indonesia Morowali Industrial Park (IMIP), to supply power to the Hengjaya, Ranger and Oracle nickel processing operations. The binding term sheet with PT Sumber Energi Surya... 

Future Metals raises funds for WA exploration

By: Esmarie Iannucci     17th August 2022 ASX- and Aim-listed Future Metals will raise A$5-million to fund exploration work in Western Australia. The company has received firm commitments for the placement of 40-million fully paid ordinary shares, at a price of 12.5c each. The placement will be done within Future Metals’ existing... 

DevEx raises A$17m for NT uranium drilling

By: Esmarie Iannucci     17th August 2022 ASX-listed DevEx Resources will raise A$17.2-million to expand drilling at its Nabarlek uranium project, in the Northern Territory. The company on Wednesday reported that it had received firm commitments for the two-tranche placement, with the first tranche consisting of 44.1-million shared,... 

Santos announces FID on $2.6bn Alaska oil project

By: Esmarie Iannucci     17th August 2022 Oil and gas major Santos has announced a positive final investment decision (FID) on the $2.6-billion Pikka Phase 1 project, in Alaska, as the company reported record first half results. Santos’ share of expenditure is expected to amount to some $1.3-billion for its 51% interest in the project,... 

Santos MD and CEO Kevin Gallagher
Santos MD and CEO Kevin Gallagher

Graphite in EV batteries creates conundrum under US climate bill

By: Bloomberg     17th August 2022 Graphite is a key part of today’s electric vehicle batteries. It’s also tricky for Americans eyeing a tax break for buying climate-friendly cars. EVs can qualify for a $7 500 tax credit under President Joe Biden’s climate and tax bill, as long as their batteries contain minerals extracted from... 

To rescue 10 trapped miners, Mexico turns to German, US companies

By: Reuters     17th August 2022 Mexico will ask both a German and a US company to help rescue 10 miners who have been trapped in a coal mine for nearly two weeks, officials said on Tuesday. The Foreign Ministry did not immediately respond when asked which two companies it contacted. The miners became confined underground at... 

Chile investigates collapse at Antofagasta Minerals mining project

By: Reuters     17th August 2022 Chile's environmental regulator said Tuesday it launched an investigation after tidal waves caused the collapse of a construction platform belonging to an Antofagasta Minerals project in the country's northern coast. The head of Chile's SMA environmental regulator office in Coquimbo, Gonzalo... 

Chile dictates measures against Lundin for giant sinkhole

By: Reuters     17th August 2022 Chile's SMA environmental regulator said on Tuesday it had issued a series of measures against a copper mine owned by Canada's Lundin Mining after a sinkhole opened up near one of the company's mines. The SMA ordered six "urgent and transitory" measures while it continues to investigate causes... 

Output at Zijin Colombia mine halted amid search for reportedly missing miners

By: Reuters     17th August 2022 A days-long road blockade by protesters has halted production at Zijin Mining's Colombia gold project, the Chinese company said on Tuesday, as authorities worked to determine whether informal miners are trapped in tunnels on its land. The blockades began on August 12 as the protesters demanded... 

Zimbabwe offers target-beating incentive for biggest gold miners

By: Bloomberg     16th August 2022 Zimbabwe extended an incentive for the country’s biggest gold miners to produce above state-set output targets. Large producers that exceed their goals will receive 80% of the payment for the additional output in foreign currency, Deputy Mines Minister Polite Kambamura said in an interview. That... 

Oz Minerals is 'nice to have, not must have', says BHP CEO

By: Reuters     16th August 2022  BHP Group was disappointed that its "compelling" offer to buy out Oz Minerals was rejected, CEO Mike Henry said on Tuesday. "It's pretty disappointing that the board (of Oz Minerals) chose not to engage," Henry told journalists at a media briefing after announcing his company's annual results.  

BHP CEO Mike Henry
BHP CEO Mike Henry

Rights organisations are seeking accountability for failed Marikana housing

By: Marleny Arnoldi     16th August 2022 As this year marks the tenth anniversary of the Marikana Massacre, in which 34 mineworkers were killed by the South African Police Service during a protest at the Lonmin platinum mine, in Rustenburg, University of the Witwatersrand’s human rights organisation Centre for Applied Legal Studies... 

Exxaro expecting half-year earnings to soar 

By: Martin Creamer     16th August 2022 Coal mining and renewable energy company Exxaro advised on Tuesday of its half-year earnings being set to soar on the exceptional performance of its coal business. Half-year earnings before interest tax depreciation and amortisation (Ebitda) will be up 137% to 151% compared with the first half of... 

Exxaro CEO Dr Nombasa Tsengwa.
Exxaro CEO Dr Nombasa Tsengwa.

Wärtsilä to supply 18 MW of additional power capacity at Senegal gold mine

By: Darren Parker     16th August 2022 Technology group Wärtsilä will supply an 18 MW extension to the power generating facility and also upgrade the electrical and automation system of the existing power plant at gold producer Endeavour Mining’s Sabodala-Massawa gold mine complex, in Senegal. The upgrade and extension project will... 

Dry-ice blasting service provider underscores advantages of dry ice blast cleaning

By: Simone Liedtke     16th August 2022 Similar to sand blasting, bead blasting or soda blasting, dry ice blasting service provider Dry Ice Blasting Services underscores the advantages to dry ice blast cleaning, which it says is “not well known”, although it is a time-saving, green and cost-effective cleaning method. The modernized... 

Dry-ice blasting service provider underscores advantages of dry ice blast cleaning

Iron-ore subdued on China demand concerns

By: Reuters     16th August 2022 Dalian and Singapore iron-ore futures were volatile on Tuesday as traders weighed curbs in industrial electricity consumption in China's Sichuan province that hit steel production. Iron ore's front-month September contract on the Singapore Exchange SZZFU2 was down 0.3% at $105.65 a tonne, as of... 

Thungela shares R500m with employees, community as it sets out to plant million trees, add solar power  

By: Martin Creamer     16th August 2022 Coal mining and exporting company Thungela, which generated R8.9-billion free cash in the first six months to June 30, is sharing R500-million of it with employees and communities, setting out to plant a million trees to purify water, putting in solar power to reduce its carbon footprint as it... 

Thungela CEO July Ndlovu interviewed by Mining Weekly's Martin Creamer. Video: Nicholas Boyd.

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