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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
Updated 7 hours ago
Resources Watch
Resources Watch
21st February 2024
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Major hydrogen economy developments in SA
21st February 2024

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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... 


First Quantum CEO Tristan Pascall
First Quantum announces capital restructuring to reduce debt
22nd February 2024 By: Reuters

First Quantum Minerals on Wednesday announced a series of capital restructuring measures that would strengthen its balance sheet and cut debt, a move that will help the Canadian miner deliver on... 


Panoramic CEO and CFO roles made redundant
Updated 10 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 34 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 1 hour 9 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,... 


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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 5 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 5 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 5 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... 


Magazine round up | 23 February 2024
Magazine round up | 23 February 2024
Updated 7 hours ago

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


Newmont will sell the Telfer mine, in Australia
Newmont puts six mines, two projects on the block
22nd February 2024 By: Mariaan Webb

Gold mining major Newmont will put up for sale six mines and two projects, optimising its portfolio to focus on ten tier-one assets that will produce 6.7-million gold ounces by 2028. The six mines... 


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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... 


Teck Resources Q4 profit beats targets on strong coal sales, copper output
Teck Resources Q4 profit beats targets on strong coal sales, copper output
22nd February 2024 By: Reuters

Canadian miner Teck Resources beat fourth-quarter profit estimates on Thursday, helped by an increase in steelmaking coal sales and record copper production. The company also benefited from higher... 


Pilbara Minerals pauses dividend, cuts capex as it targets $200m in savings
Pilbara Minerals pauses dividend, cuts capex as it targets $200m in savings
22nd February 2024 By: Mariaan Webb

Australia’s biggest pure-play lithium producer, Pilbara Minerals, has opted to withhold its interim dividend as the company moves to preserve its balance sheet strength in an environment of lower... 


Minas-Rio
Integration of Vale’s Serpentina resource has potential to expand Anglo’s Minas-Rio output
22nd February 2024 By: Darren Parker

Diversified miner Anglo American has agreed to acquire, from Brazilian iron-ore miner Vale, the high-quality Serra da Serpentina iron-ore resource and integrate it into its contiguous Minas-Rio... 


Minerals Council CEO Mzila Mthenjane
Fiscal discipline in Budget, but 5% infrastructure expenditure increase ‘barely positive’ – Minerals Council
22nd February 2024 By: Schalk Burger

Finance Minister Enoch Godongwana maintained focus on fiscal discipline and balancing the need to address socioeconomic challenges facing the country, industry organisation Minerals Council South... 


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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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