R/€ = 17.7961 Change: 0.0137
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Au 1754.60 $/oz Change: 0.00
Pt 984.00 $/oz Change: 0.00

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South Africa’s mining market is dynamic and fast-moving, Siemens Large Drives finds  

By: Martin Creamer     25th November 2022 South Africa is a super dynamic and super fast-moving market, says Siemens Large Drives global solutions head Oliver Beck, who has just completed a week of discussions with customers to highlight sustainability solutions for mining. From his perspective, South African mining economy is at the... 

Siemens Large Drives' Oliver Beck, Tim Walwyn talk to Mining Weekly's Martin Creamer. Video: Nicholas Boyd, Shadwyn Dickinson. Video Editing: Darlene Creamer. Pictures: Donna Slater.

Implats issues RFI for renewable energy to be wheeled to its South African sites

By: Donna Slater     25th November 2022 Platinum group metals miner Impala Platinum (Implats) has issued a request for information (RFI) to buy an unspecified volume of electricity, through wheeling from renewable energy sources, for its South African operations. Implats, whose electricity consumption accounts for 74% of its total... 

A solar and wind plant

Marula’s Blesberg to deliver first shipment of lithium RoM in December

By: Darren Parker     25th November 2022 AQSE-listed mining and development company Marula Mining has made significant progress towards the delivery of the first shipment of high-grade run-of-mine (RoM) lithium ore at its Blesberg lithium and tantalum mine in the Northern Cape. The first shipment, which is expected in December, falls... 

Petra reports 6% y/y rise in second yearly diamond tender sales

By: Donna Slater     25th November 2022 Diamond miner Petra Diamonds sold 447 276 ct of diamonds for $61.3-million during its second tender for the 2023 financial year. Sales were up 6% year-on-year as a result of the final closure date of the tender being extended owing to unusual market conditions with some build up in inventory... 

De Beers sponsors newly launched jewellery showcase at Montecasino

By: Marleny Arnoldi     25th November 2022 Diamond miner De Beers has partnered with the Jewellery Council of South Africa to serve as the main headline sponsor of this year’s ShopJewellex, a newly launched retail-consumer jewellery showcase to be held at Montecasino over the Black Friday weekend. ShopJewellex will showcase the latest... 

TFR concludes ten-day maintenance programme on Sishen-Saldanha line

By: Marleny Arnoldi     25th November 2022 Rail operator Transnet Freight Rail (TFR) has successfully completed a ten-day maintenance plan on its Sishen-Saldanha iron-ore corridor. The maintenance involved electrical, perway and technical support works from November 8 to 17, where the main deliverable was to restore the rail network to... 

TFR opens up coal line again

By: Marleny Arnoldi     25th November 2022 State-owned rail operator Transnet Freight Rail (TFR) has lifted the force majeure it imposed on the export coal line on November 8. The closure of the line followed the derailment of a fully-laden coal train, which occurred between the Bloubank and Nhlazatshe stations, causing extensive damage... 

Namibia plans railway revamp to boost regional coal exports

By: Reuters     25th November 2022 Namibia's state-owned railway company TransNamib plans to shift coal exports from Botswana off the road and onto rail by early next year, potentially doubling exports via Walvis Bay port, its CEO said. Land-locked Botswana has sought alternative routes to export its coal as disruption to South... 

Ghana orders mining firms to sell 20% of refined gold to its central bank

By: Reuters     25th November 2022 Ghana has ordered all large-scale mining companies to sell 20% of their entire stock of refined gold at their refineries to the Bank of Ghana from Jan. 1, 2023, Vice-President Mahamudu Bawumia said on Facebook on Friday. The move is part of measures to operationalize a government plan to use gold... 

Buffalo Coal backtracks on convertibility into shares of Belvedere’s loan

By: Marleny Arnoldi     25th November 2022 TSX-V- and JSE-listed Buffalo Coal has advised that the convertible loan facility it has in place with Belvedere Resources has been amended to remove the right of Belvedere, as lender, to convert amounts owing thereunder into shares in the capital of Buffalo. There is currently $27-million... 

Kenmare lowers guidance on the back of power challenges

By: Tasneem Bulbulia     25th November 2022 London-listed Kenmare Resources, which operates the Moma titanium minerals mine, in northern Mozambique, has lowered its 2022 full-year guidance. “Production of ilmenite, our primary product, was strong in October and we maintained the 1.2-million-tonne-a-year run rate we achieved in quarter... 

Tantalex’s TiTan project under way

By: Tasneem Bulbulia     25th November 2022 Having recently received the mining licence for the TiTan tin and tantalum project, in the Democratic Republic of Congo (DRC), Tantalex Lithium Resources is now setting up the concentration plant and is aiming for the production of its first concentrate in March 2023. For Tantalex, this means... 

Sandvik wins large mining equipment order in the DRC

By: Tasneem Bulbulia     25th November 2022 High-tech and global engineering group Sandvik has received a large mining equipment order from Chinese global mining services provider JCHX Mining Management for use at the Kamoa-Kakula copper and the Kamoya copper and cobalt mines, in the Democratic Republic of the Congo. The order is valued at... 

Higher costs for Tumas and a new plan for Mulga Rock - Deep Yellow

By: Esmarie Iannucci     25th November 2022 Uranium hopeful Deep Yellow has flagged a cost-blow out at its Tumas project, in Namibia, where a definitive feasibility study (DFS) is currently under internal review. The company told shareholders on Friday that the DFS, which had been completed, had indicated that the project remained... 

Crime, platinum demand, R1bn fuel cell factory make headlines   

25th November 2022 Mining Weekly Editor Martin Creamer discusses the country’s economic/crime paradox that was highlighted at a recent Anglo American meeting; new green hydrogen end-demand pushing platinum into a meaningful deficit; and the development of the R1-billion fuel cell factory which could break ground... 

Crime, platinum demand, R1bn fuel cell factory make headlines

Australia court blocks giant coal mine on human rights grounds

By: Bloomberg     25th November 2022 An Australian court has blocked a proposal for a huge coal mine, saying the emissions produced by the fuel would threaten human rights. The Galilee Coal Project would add 1.58-billion tons of carbon dioxide to the atmosphere over its lifespan -- more than triple Australia’s annual domestic... 

Uranium miner Kazatomprom's Q3 profit surges on higher sales

By: Mariaan Webb     25th November 2022 Kazakhstan's Kazatomprom, the world's biggest uranium miner, reported a nearly sevenfold year-on-year increase in third-quarter profit on Friday as its physical sales volume doubled in the same period. According to the company's financial report, its quarterly profit stood at 138.9-billion tenge... 

International Graphite opens pilot processing plant in Western Australia

By: Reuters     25th November 2022 Australia's International Graphite opened a test graphite processing plant in Western Australia on Friday, as the state moves to add value in the battery processing chain. It comes as Australia seeks to develop its critical minerals processing industry, with Treasurer Jim Chalmers on Friday... 

Trudeau faces tough choices in countering US green incentives

By: Bloomberg     25th November 2022 Prime Minister Justin Trudeau has difficult choices ahead as his government races to respond to the massive green-technology incentives in the US Inflation Reduction Act. Industries from automobile manufacturing to oil and gas production are warning that Canada must invest more to match its... 

Austral sells Pinguino in Argentina

By: Esmarie Iannucci     25th November 2022 ASX-listed Australia Gold has struck a deal with fellow-listed E2 Metals to divest of its Pinguino project, in Argentina. Under the terms of the agreement, Australia will receive $5-million in cash, of which $2.5-million will be paid on closing of the transaction and the remaining balance in... 

Bankers pour cold water on red hot coal

By: Reuters     25th November 2022  It's the best of times, it's the worst of times. At least when it comes to mining coal. After years of decline, demand for the polluting fossil fuel has surged this year as Europe scrambles to replace Russian gas, and coal miners are making money hand over fist. With coal prices hitting record... 

Workers at BHP's Escondida mine in Chile reject offer, threaten strike

By: Reuters     25th November 2022 Some 2 000 workers at Chile's Escondida mine, the world's largest copper deposit, have turned down BHP's offer to settle a labor dispute and could stop work on November 28 and 30 if their demands are not met, their union said on Thursday. BHP announced earlier this week that it had reached a... 

Musgrave raises cash for Cue

By: Esmarie Iannucci     25th November 2022 Junior Musgrave Minerals will raise A$10-million to fund resource growth at its Cue gold project, in Western Australia. The ASX-listed company on Friday said it had received firm commitments for the placement of 40-million fully paid ordinary shares in the company, at an issue price of 20c each,... 

Peninsula completes A$32m placement

By: Esmarie Iannucci     25th November 2022 Uranium developer Peninsula Energy has completed the institutional placement of its planned A$35-million capital raise, raising an initial A$32-million. The company earlier this week announced a final investment decision (FID) on its Lance uranium project, in the US, announcing a A$35-million... 

Qld on critical minerals trail in the UK

By: Esmarie Iannucci     25th November 2022 The Queensland government is heading to the UK and Europe to promote opportunities in critical minerals to global investors. “Queensland is blessed with some of the best deposits of critical minerals in the world. We want investors across the globe to know the huge opportunities in our... 

Recipients of 2023 PDAC Awards named

By: Creamer Media Reporter      25th November 2022 The Prospectors and Developers Association of Canada (PDAC) has named the recipients for the 2023 PDAC Awards, which recognise participants’ distinctions, contributions and successes in mineral exploration and development. Now in its 45th year, the yearly PDAC Awards showcase individuals, teams... 

Vizsla plans a strategic investment in Prismo Metals

By: Creamer Media Reporter      25th November 2022 TSX-V- and NYSE-listed Vizsla Silver is planning to make a strategic investment in CSE-listed Prismo Metals, with its eye on the Palos Verdes project as part of the consolidation of its land position in the Panuco-Copala district, in Mexico. Vizsla has entered into a nonbinding letter of intent... 

Freeport settles six-year-high copper charges for 2023 with Chinese smelters - source

By: Reuters     25th November 2022 Miner Freeport-McMoRan has agreed treatment and refining charges (TC/RCs) of $88/t and 8.8c/lb for copper concentrate supply in 2023 with Chinese smelters, a source close to negotiations said on Thursday. The charges, paid by miners to smelters to process ore into refined metal, are the highest... 

Aurubis CEO 'disappointed' LME did not ban Russian metals

By: Reuters     25th November 2022 The chief executive of Aurubis, Europe's biggest copper smelter, said on Thursday he was disappointed by the London Metal Exchange's decision not to ban Russian metals. "I was disappointed that LME didn't take the action," Roland Harings told Reuters in an interview on the sideline of the CRU... 

Aurubis CEO 'disappointed' LME did not ban Russian metals

Rio acknowledges federal heritage plans

By: Esmarie Iannucci     25th November 2022 Diversified major Rio Tinto has taken note of the federal government’s efforts to co-design stronger laws to give better protection to Aboriginal cultural heritage sites, noting that the company had been working hard to restore its relationship with Traditional Owners. “Since the tragic events... 

Miners welcome Australia's critical mineral support

By: Esmarie Iannucci     25th November 2022 Federal Resources Minister Madeleine King has outlined the Commonwealth government’s measures to assist in developing the critical minerals industry in the country, among which was the development of a new Critical Minerals Strategy. Speaking at the Australian Critical Minerals Summit, in... 

Chalmers warns of narrow critical mineral supply chains

By: Esmarie Iannucci     25th November 2022 Federal Treasurer Jim Chalmers has warned of the dangers of a constrained supply chain for the critical minerals sector, warning that the sector could become hostage to geopolitical competition and conflicts. Speaking at the Australian Critical Minerals Summit, in Sydney, Chalmers said that as... 

Image shows an aluminium refinery

Magazine round up | 25 November 2022 

25th November 2022 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

Magazine round up | 25 November 2022

Codelco head warns of potential for large global copper deficit in a decade

By: Reuters     24th November 2022 The global copper market could accumulate a large deficit of almost eight million tonnes in a decade as soaring demand will outweigh new projects, the head of Chile's state-owned Codelco, the world's largest producer of the metal, said on Thursday. During a speech at Asia Copper Week in... 

An image of Codelco's chairperson
Codelco chairperson Maximo Pacheco

Tirupati’s Madagascan projects continue at full pace following reorganisation

By: Donna Slater     24th November 2022 Specialist graphite and graphene company Tirupati Graphite reports that its Madagascar-based Vatomina preconcentrate plant continues to operate uninterrupted and at nameplate ore feed capacity of 600 t/d, following a reorganisation of the plant. The construction and installation of the second... 

AfriTin buoyed by exploration of Namibia licence ML133

By: Donna Slater     24th November 2022 Tin miner AfriTin Mining is progressing with exploration of mining licence ML133, located about 35 km south-east of the company’s Uis mine in Namibia, having found thus far 13 m of mineralisation grading at 1.93% lithium oxide, 0.10% tin and 36 parts per million (ppm) of tantalum in sample T78.... 

WGC members paid $57.1bn to host economies in 2021

By: Donna Slater     24th November 2022 World Gold Council (WGC) member companies directly contributed $57.1-billion to host economies in 2021, says the WGC’s ‘Social and Economic Contribution of Gold Mining’ report that was released this month. Of the total, $35.4-billion (62%) of payments were made to in-country suppliers,... 

Loadshedding to be downgraded thanks to diesel from PetroSA

By: News24Wire      24th November 2022 Thanks to diesel supplied by PetroSA, Eskom will be able to reduce load shedding to Stage 3 from Stage 4 during the night, Eskom said. This is expected to last until Monday morning.  The lifeline from PetroSA was supplied after Eskom recently ran out of funds to pay for diesel, which it uses to... 

A photo of Eskom's head office

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South Africa’s mining market is dynamic and fast-moving, Siemens Large Drives finds

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Magazine round up | 25 November 2022

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