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Platinum jewellery continuing to drive 25% of platinum demand  

By: Martin Creamer     20th May 2022 Several reports published during Platinum Week indicate that in 2021, platinum jewellery consumed anywhere between 1.6-million ounces to two-million ounces of platinum, which makes it still the second demand source after automotive, coming in at around 25% of total platinum demand. Positive... 

Platinum Guild International CEO Huw Daniel interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Test site provides platform to trial innovations under real mining conditions  

By: Marleny Arnoldi     20th May 2022 Public–private partnership for innovation the Mandela Mining Precinct’s (MMP’s) test mine is poised to deliver value to mining companies, original-equipment manufacturers (OEMs) and other stakeholders while contributing to the industry’s sustainability. This partnership, aimed at assisting... 

Mandela Mining Precinct programme manager Jurgens Visser speaking to Engineering News & Mining Weekly about the test mine at Royal Bafokeng Platinum’s Maseve North mine.

Forum set up to improve cooperation between Eskom, Transnet and domestic industrialists 

By: Terence Creamer     20th May 2022 A new forum comprising Eskom, Transnet and domestic industrialists is to be established to improve collaboration between the two large infrastructure-focused State-owned companies and domestic manufacturers and suppliers. The initiative was unveiled by Ministers Pravin Gordhan and Ebrahim Patel... 

Trade, Industry and Competition Minister Ebrahim Patel
Photo by Creamer Media Chief Photographer Donna Slater
Trade, Industry and Competition Minister Ebrahim Patel

Gordhan reports yet another sabotage incident at Hendrina power station 

By: Terence Creamer     20th May 2022 A day after Eskom confirmed incidents of sabotage at its Tutuka power station, Public Enterprises Minister Pravin Gordhan alleged that another incident of sabotage had taken place at the Hendrina power station. The Hendrina incident raises to six the number of incidents of suspected sabotage that... 

Public Enterprises Minister Pravin Gordhan
Photo by Creamer Media Chief Photographer Donna Slater
Public Enterprises Minister Pravin Gordhan

Rich nations offer debt guarantees on South African climate deal

By: Bloomberg     20th May 2022 A group of the world’s richest nations offered South Africa debt guarantees as part of a proposed $8.5-billion deal designed to cut the nation’s reliance on coal for power generation, people familiar with the talks said, potentially resolving one sticking point in the negotiations. The guarantees... 

Sibanye-Stillwater receives SA Innovation League award

By: Schalk Burger     20th May 2022 Precious and battery metals miner Sibanye-Stillwater has achieved second place in innovation consultancy Innocentrix’s 2021/22 South African Innovation League awards in the large organisations category. Sibanye’s innovation strategy is focused primarily on creating a diverse and inclusive... 

Harmony appoints Nqwababa, Prinsloo to its board

By: Marleny Arnoldi     20th May 2022 JSE-listed gold miner Harmony Gold has appointed Bongani Nqwababa and Martin Prinsloo to the board as independent nonexecutive directors, as well as audit and risk committee members, effective May 18. The two chartered accountants bring to the board an extensive and diverse record of... 

Harmony nonexec director Bongani Nqwababa
Photo by Creamer Media
Incoming Harmony nonexec director Bongani Nqwababa

Changes coming to BHP board

By: Esmarie Iannucci     20th May 2022 Major BHP has announced the retirement of Malcolm Broomhead and John Mogford as non-executive directors at the conclusion of the 2022 annual general meeting (AGM). Broomhead has been a director of BHP since March 2010 and in 2021 the board requested Broomhead seek re-election at the 2021 AGM for... 

Eastplats moves to secure funding for underground mining restart at CRM

By: Marleny Arnoldi     20th May 2022 TSX- and JSE-listed Eastern Platinum has filed a technical report on the Crocodile River Mine (CRM), in South Africa’s North West province, stipulating the restart of underground mining at the Zandfontein section of the mine. The Zandfontein section, which has a measured and indicated resource... 

Eastplats' Crocodile River Mine
Eastplats' Crocodile River Mine

Tharisa expects interim EPS boost from acquisition, but lower HEPS

By: Marleny Arnoldi     20th May 2022 Chrome and platinum group metals miner Tharisa expects to report a 50% increase in earnings per share (EPS) for the six months ended March 31, at between $0.32 and $0.33. This compares with EPS of $0.21 posted in the prior corresponding six months.  

Gold Fields confirms enviro compliance work under way at Salares Norte following fox deaths

By: Marleny Arnoldi     20th May 2022 JSE- and NYSE-listed Gold Fields has confirmed that the death of three foxes occurred at its Salares Norte gold/copper project, in Chile. The country’s environmental regulator has since issued some compliance orders to be adhered to.  

Gold Fields' Salares Norte project under construction
Gold Fields' Salares Norte project under construction

China's Sinosteel signs $680m iron-ore mine deal with Cameroon

By: Reuters     20th May 2022 Cameroon's government has signed a 420-billion CFA franc ($675.96-million) high-grade iron-ore mining deal with a subsidiary of Sinosteel Corporation Limited, as China seeks new sources of the steel-making ingredient. Sinosteel Cam, the Cameroonian subsidiary of the state-owned Chinese miner,... 

Unloved since Fukushima, uranium is hot again for miners

By: Reuters     20th May 2022 Uranium miners are racing to revive projects mothballed after the Fukushima disaster more than a decade ago, spurred by renewed demand for nuclear energy and a leap in yellowcake prices after Russia's invasion of Ukraine. Spot prices for uranium have doubled from lows of $28 per pound last year... 

An image of uranium

CSIR, Sibanye-Stillwater, Southern Palladium make headlines   

20th May 2022 Mining Weekly Editor Martin Creamer discusses CSIR CEO Thulani Dlamini's belief that collaboration in research, development and innovation is needed to make South African mining competitive; Sibanye-Stillwater’s Marikana K4 project which has just hoisted its first tons; and Southern Palladium's... 

CSIR, Sibanye-Stillwater, Southern Palladium make headlines

Snow Lake Lithium calls for comprehensive EV ecosystem across North America

By: Creamer Media Reporter      20th May 2022 Canadian lithium producer Snow Lake Lithium has outlined the need to create a comprehensive electric vehicle (EV) ecosystem across North America to protect the future of the region's domestic automotive industry. With more than ten-million vehicles sold in the US last year, the automotive... 

DWS stresses commitment to Phase 2 of the Vaal Gamagara Water Supply Scheme

By: Yvonne Silaule     20th May 2022 The Northern Cape stands to benefit to the tune of R10-billion when Phase 2 of the Vaal Gamagara Water Supply Scheme (VGWSS) is implemented, Water and Sanitation Minister Senzo Mchunu has announced. The construction of the bulk water supply project is critical to both the mining sector and... 

Europe aims to revive magnesium output by 2025 to cut China reliance

By: Reuters     20th May 2022  EU policymakers have launched a drive to restart domestic output of magnesium, used in aluminium and steel products, with at least three firms working on projects, according to documents and officials. A European Commission staff working document made available to Reuters places a new emphasis... 

US Gold Corp reaffirms commitment to local procurement in Wyoming

By: Schalk Burger     20th May 2022 US gold exploration and development company US Gold Corp has reaffirmed its commitment to supporting economic growth in southeast Wyoming through the hiring of local contractors and engaging businesses within the area for its advanced-stage CK Gold gold and copper project. The company has... 

Gold Fields subsidiary plans to buy stock in Peru-focused mining company

By: Marleny Arnoldi     20th May 2022 TSX-V-listed Chakana Copper Corporation has announced a private placement of up to 63-milllion units of the company at a price of C$0.11 apiece, for gross proceeds of up to C$7-million. Each unit will comprise one common share in the capital of the company and one-half of one common share... 

EIA for Atico's La Plata project approved

By: Creamer Media Reporter      20th May 2022 Base and precious metals miner Atico Mining Corporation has received approval of the environmental-impact assessment (EIA) for the construction and operation of its La Plata mining project in Ecuador. The company notes that the project has been identified by Ecuador President Guillermo Lasso as a... 

Payouts from top Russian gold miner to fund Islamic charity after sanctioned billionaire exits

By: Bloomberg     20th May 2022 Russia’s top gold miner Polyus PJSC -- long controlled by the family of sanctioned billionaire Suleiman Kerimov -- will be used to fund charity work after an Islamic foundation became its biggest shareholder. Last week, Said Kerimov -- son of the billionaire first sanctioned by the US in 2018 --... 

Finnish Industry ready for end of Russian natural gas imports

By: Bloomberg     20th May 2022 As Finland braces for an expected halt in natural gas flows from its top supplier Russia, some of the largest industrial users are getting ready. There’s a “real risk” the taps will be turned off as soon as Friday, according to estimates by importer Gasum Oy, which has refused to pay in rubles.... 

Arconic to Sell Russian operations, take $500m charge

By: Bloomberg     20th May 2022 Arconic Corp said it will sell its Russian operations, joining the exodus of US companies after the invasion of Ukraine made doing business in the region “untenable.” The Pittsburgh-based aluminum-sheet manufacturer expects to record a charge of as much as $500-million related to the move.... 

Woodside's 'crown jewel' Scarborough gas lures buyers to fill Russia gap

By: Reuters     20th May 2022 Woodside Petroleum has received strong interest from companies for a stake in the Scarborough natural gas project it is developing off Western Australia in the wake of the Ukraine conflict, CEO Meg O'Neill said on Friday. Woodside is set to become 100% owner of the $5.7 billion Scarborough... 

Peru fails yet again to broker truce allowing MMG's Las Bambas mine restart

By: Reuters     20th May 2022 Peru's prime minister on Thursday failed to broker a deal with indigenous communities to allow for the restart of operations at MMG Ltd's Las Bambas copper mine, the government's fourth failed negotiation attempt. Chinese-owned Las Bambas is one of the world's largest copper mines, accounting... 

Develop completes Woodlawn purchase

By: Esmarie Iannucci     20th May 2022 ASX-listed Develop has completed the A$100-million acquisition of the Woodlawn zinc/copper project, in New South Wales. Develop on Friday announced it had completed the purchase of all shares in Heron Resources, under the terms of a deed of company arrangement (DOCA) and orders of the Supreme... 

Perseus settles Orca buy

By: Esmarie Iannucci     20th May 2022 Gold miner Perseus Mining has completed the acquisition of TSX-V-listed Orca Gold Inc. Perseus, which held an initial 15% interest in Orca, offered its shareholders 0.56 Perseus shares for every Orca share held, with the total consideration paid for Orca estimated at C$215-million, including... 

Australian Vanadium hoping to raise A$27.5m

By: Esmarie Iannucci     20th May 2022 ASX-listed Australian Vanadium is hoping to raise up to A$27.5-million to finance work at its namesake project in Western Australia. The company on Friday announced that it had received firm commitments from new and exiting shareholders for the placement of 425.5-million shares, at a price of... 

FFI backs the EU's renewable plan

By: Esmarie Iannucci     20th May 2022 Green energy developer Fortescue Future Industries (FFI) has welcomed the European Commission REPowerEU plan to rapidly reduce dependence on Russian fossil fuels and tackle the climate crisis. The European Commission earlier this week presented the REPowerEU plan in response to the global... 

IGO produces first lithium at Kwinana

By: Esmarie Iannucci     20th May 2022 ASX-listed Independence Group (IGO) on Friday announced the first production of battery grade lithium from its Kwinana lithium hydroxide refinery, in Western Australia. The first production represented an important milestone for the lithium joint venture (JV) between IGO and its partner Tianqi... 

Image shows the lithium hydroxide refinery at Kwinana

BHP unveils distribution plans and Woodside changes names

By: Esmarie Iannucci     20th May 2022 Diversified miner BHP on Friday announced it would pay shareholders an in specie dividend in the form of Woodside Petroleum shares in connection with the merger of BHP’s oil and gas portfolio with Woodside. The shareholders of Woodside on Thursday approved the merger, which would create the... 

BHP still sees room to negotiate with Samarco's creditors

By: Bloomberg     20th May 2022 BHP Group is willing to protect its joint venture in Samarco Mineracao, saying it sees room to negotiate with financial creditors in the Brazil miner’s debt restructuring. “We’re absolutely committed to making sure that Samarco is reset to be the sustainable operation it always has been and... 

The River Doce in January 2022. The collapse of a tailings dam in 2015 destroyed indigenous lands along the banks of the river.
The River Doce in January 2022. The collapse of a tailings dam in 2015 destroyed indigenous lands along the banks of the river.

Magazine round up | 20 May 2022 

20th May 2022 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

Magazine round up | 20 May 2022

India warns of fuel-supply cuts to utilities if coal imports delayed

By: Reuters     19th May 2022 India's power ministry on Wednesday said it would cut domestic fuel supply to state government-run utilities by 5% if they do not import coal for blending by June 15, as officials struggle to address rising power demand. A heatwave pushed power use to a record high in April, leading to the worst... 

Critical mineral demand of order of magnitude never seen – Sheila Khama  

By: Martin Creamer     19th May 2022 "My genuine sense is that we are going to see a growth in the mining sector of an order of magnitude we haven't seen. I also think that we're going to find that the need for minerals is going to force the world to think that if we can't get minerals on our shore, where else do we get them from? 

Mining stalwart Sheila Khama spoke to Mining Weekly’s Martin Creamer on critical metals. Video: Darlene Creamer.

Mantashe open to meeting with opposition to seek short-term solutions to power crisis 

By: Terence Creamer     19th May 2022 Mineral Resources and Energy Minister Gwede Mantashe has described as “constructive” a proposal by the opposition Democratic Alliance for a meeting to discuss short-term solutions to the country’s ongoing load-shedding crisis. In his Budget Vote address, Mantashe outlined the initiatives his... 

Minerals Resources and Energy Minister Gwede Mantashe
Photo by Creamer Media's Donna Slater
Minerals Resources and Energy Minister Gwede Mantashe

UBS advises gold investors to manage downside risks for the second half of 2022

By: Darren Parker     19th May 2022 Although investment bank UBS Global Wealth Management strategists Wayne Gordon and Dominic Schnider have guided investors to hold gold as a long-term hedge to avoid adding or building up additional exposure, they have acknowledged the downside risks to forecasts for the second half of this year... 

Gold bars

Gravitricity, Arup secure grant to develop below-ground hydrogen storage

By: Tasneem Bulbulia     19th May 2022 Edinburgh-based energy storage specialist Gravitricity and global built environment consultancy Arup have secured £300 000 from the UK Department of Business Energy & Industrial Strategy (BEIS) to study the feasibility of storing hydrogen in purpose-built underground shafts. Gravitricity and Arup... 

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Critical mineral demand of order of magnitude never seen – Sheila Khama

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Law firm drawing on giga-scale hydrogen project experience to derisk new ventures

Things looking interesting for platinum despite surplus

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