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Iron-ore euphoria of today arising out of iron-ore despair of yesteryear offers crucial policy lesson, says mining analyst in a ‘Postcard to the President’ 

By: Martin Creamer     Updated 3 hours ago If you bought R100 000 worth of shares in Kumba Iron Ore at the start of 2016, you would now be sitting on shares worth a staggering R2.67-million, excluding dividends. This is because Kumba’s all-time low share price of R25.35 in January 2016 has skyrocketed 2 647% to R696.45, reflecting the... 

Iron-ore euphoria of today arising out of iron-ore despair of yesteryear offers crucial policy lesson, says mining analyst in a ‘Postcard to the President’
Photo by Creamer Media
In a ‘Postcard’ to President Cyril Ramaphosa (left), mining analyst Bruce Williamson pleads for the creation of ‘all-weather’ mining policy.

Petra agrees to settlement over human rights abuses claims

By: Tasneem Bulbulia     Updated 3 hours ago A settlement has been agreed with diamond miner Petra Diamonds following claims of serious human rights abuses at its majority-owned Williamson diamond mine in Tanzania. Law firm Leigh Day has agreed the settlement on behalf of 71 claimants who allege that they suffered serious human rights... 

Petra agrees to settlement over human rights abuses claims
Williamson mine

Anglo says technology integral to its sustainability 

By: Schalk Burger     12th May 2021 Diversified mining multinational Anglo American on May 11 provided a detailed overview and update of the technologies that are being developed and deployed group-wide, as well as the impact of its operating model changes, to sustain and improve its operations. “Technology and innovation are... 

Anglo says technology integral to its sustainability
Anglo American technical director Tony O'Neill

Eskom highlights financial limitations as it mulls industrial applications for discounted tariffs 

By: Terence Creamer     12th May 2021 State-owned electricity producer Eskom confirms that it has been approached by customers in various industrial sectors with regard to possible applications for discounted Negotiated Pricing Agreements (NPAs), but says its weak financial position prevents widespread implementation. The first NPA... 

 Eskom highlights financial limitations as it mulls industrial applications for discounted tariffs

AfriTin completes placing to raise £13-million to advance Uis

By: Tasneem Bulbulia     12th May 2021 Aim-listed AfriTin Mining has completed the placing of 216.7-million ordinary shares through an accelerated bookbuild to raise £13-million. “We are very pleased to announce today’s oversubscribed placing, which puts the company in a position to expedite the Phase 1 expansion of our flagship Uis... 

Hydrogen-powered passenger vehicles playing a role in transitioning to low-carbon transport

By: Tasneem Bulbulia     Updated 3 hours ago Demand for platinum in fuel cell electric vehicles (FCEVs) is currently being led by the heavy-duty vehicle segment, principally trucks, buses and fleet vehicles; however, developments in the FCEV passenger vehicle segment highlight that this market is also evolving, says industry organisation... 

Too cold to handle? Race is on to pioneer shipping of hydrogen

By: Reuters     12th May 2021 Hydrogen is touted as an inevitable green fuel of the future. Tell that to the people who'll have to ship it across the globe at hyper-cold temperatures close to those in outer space. Yet that is exactly what designers are attempting to do. 

Kinross on track to meet guidance, announces net-zero commitment

By: Mariaan Webb     12th May 2021 Gold miner Kinross produced 558 777 gold-equivalent ounces (GEOs) in the first quarter ended March and said on Tuesday that it was on track to meet its guidance of 2.4-million GEO for the year. First quarter production was lower than the 567 327 GEO produced in the same quarter of 2020. All-in... 

Kinross on track to meet guidance, announces net-zero commitment

Ivanhoe included in the MSCI Canada Index

By: Creamer Media Reporter      12th May 2021 Africa-focused Ivanhoe Mines would be added to the MSCI Canada Index, effective May 27. The MSCI Canada Index is designed to measure the performance of the large and mid-cap segments of the Canadian market. 

Danakali raising completed

By: Esmarie Iannucci     12th May 2021 Potash developer Danakali has completed a A$20.3-million raise to fund early works at its sulphate of potash (SOP) project, in Eritrea. The company earlier this year announced plans for a 47.2-million shares placement priced at 43c each, with Danakali saying on Wednesday that it had now... 

Walkabout raises funds for Lindi Jumbo

By: Esmarie Iannucci     12th May 2021 Junior Walkabout Resources has raised an initial A$6.4-million through a share placement, and has flagged a further A$7.6-million capital raise to fund work on its flagship Lindi Jumbo graphite mine, in Tanzania. The company on Wednesday reported that it had received firm commitments for a... 

POSCO's investment approved by FCC

By: Esmarie Iannucci     12th May 2021 The Tanzanian government’s Fair Competition Commission (FCC) has approved Korean major POSCO’s $7.5-million investment into ASX-listed Black Rock Mining. Black Rock on Wednesday said that it has been notified by the FFC that there were no objections to POSCO acquiring a 15% interest in the... 

IFC could fund controversial gas-power ships in South Africa

By: Bloomberg     Updated 3 hours ago The World Bank’s International Finance Corporation (IFC) said it expressed interest in funding bidders in a South African tender for emergency power provision, including a Turkish supplier of gas-fired power plants on ships, putting it on course for a clash with climate activists. Karpowership,... 

Russia should get firms to pay environmental fines from profits, says PM

By: Reuters     Updated 4 hours ago Russia should get companies to pay compensation for environmental damage from their net profits rather than expenses after Nornickel's payment of a $2-billion fine for a fuel spill reduced its tax base, the prime minister said on Wednesday. Nornickel paid the unprecedented environmental fine for... 

Eramet says it obtains lithium from geothermal brine in eastern France

By: Reuters     Updated 6 hours ago Mining group Eramet announced on Tuesday it had extracted lithium from geothermal salt water in a pilot in eastern France, in a breakthrough it said could boost European efforts to secure raw materials for electric vehicles. Eramet obtained the lithium from brine at the Rittershoffen geothermal... 

Baosteel to keep 'overpriced' iron-ore inventories at low level

By: Reuters     12th May 2021 China's Baoshan Iron & Steel Co, the country's biggest listed steel producer, said it would limit its iron-ore inventories in the short term as prices for the raw material have risen "much higher than they should". Iron ore prices have been disrupted by speculative capital flows and have seen... 

Strong demand for diamonds, rough and smooth, boosts Alrosa sales

By: Reuters     12th May 2021 Russia's Alrosa, the world's largest producer of rough diamonds, said on Wednesday its April sales of rough and polished stones rose by 12% month-on-month to $401-million after demand for diamond jewellery strengthened in the main markets. Global demand for precious stones has been recovering... 

Antofagasta sets new emissions targets

By: Creamer Media Reporter      12th May 2021 Copper miner Antofagasta on Wednesday announced two new greenhouse gas reduction targets, as part of its climate change strategy and its wider commitment to operate sustainably. The first target is to reduce Scope 1 and Scope 2 emissions by 30%, or 730 000 t of carbon dioxide equivalent, by... 

Spanish Mountain publishes PFS results

By: Creamer Media Reporter      12th May 2021 Vancouver-headquartered Spanish Mountain has announced the results of its prefeasibility study (PFS) for its namesake project, in British Columbia, affirming its potential to be a gold mine with robust production and profitability. The Spanish Mountain mine will yield 2.1-million ounces of gold... 

Hudbay reaffirms 2021 guidance as Pampacancha production resumes

By: Mariaan Webb     12th May 2021 Copper and gold producer Hudbay Minerals has reaffirmed its production and operating cost guidance for the year, as its Pampacancha mine, in Peru, resumed production last month after finalising a new land user agreement. The miner plans to produce between 92 000 t and 112 000 t of copper and... 

Hudbay reaffirms 2021 guidance as Pampacancha production resumes

Hawks make second arrest in R1.1m Barberton mine fraud case, alleged mastermind on the run

By: News24Wire      12th May 2021 A former Barberton mine administrative clerk was arrested on Tuesday for his alleged part in fraud that caused the mine a loss of more than R1.1 million. Bhekinkosi Fana Madonsela, 30, appeared before the Barberton Magistrate's Court on Tuesday after members of the Hawks' Serious Commercial Crime... 

Iron-ore’s ‘ridiculous’ prices to stay as fear grips commodities

By: Bloomberg     12th May 2021 Iron-ore’s stunning surge won’t fade anytime soon because buyers remain nervous about being caught short as global demand accelerates amid lingering supply threats, according to a veteran commodities trader. The steelmaking material forged new all-time highs this week, soaring past $220 a ton... 

Iron-ore’s ‘ridiculous’ prices to stay as fear grips commodities

Aus resource deals fall in first quarter

12th May 2021 Deal activity in the Australian resources sector declined by 26.76% in the first quarter, new figures from GlobalData have shown. A total of 65 deals worth $183.92-million were announced in in the first quarter of 2021, led by the $46.09-million acquisition of Paterson Copper, compared with the... 

American Lithium completes Plateau acquisition

By: Mariaan Webb     12th May 2021 The merger of American Lithium and Plateau Energy Metals has been completed, creating an Americas-focused developer of energy metals at a time when securing a sustainable supply of critical minerals is a global priority. The merger combined two large lithium development projects – TLC, in... 

Artemis raises A$10m for WA exploration

By: Esmarie Iannucci     12th May 2021 ASX-listed Artemis Resources has completed a A$10-million capital raise to fund exploration work at its Carlow Castle and Paterson Central gold/copper projects, in Western Australia. The company will issue 100-million shares, priced at 10c each to institutional and sophisticated investors under... 

Battle North sale approved by shareholders

By: Esmarie Iannucci     12th May 2021 The shareholders of TSX-listed Battle North Gold Corporation have voted in favour of a takeover offer from ASX-listed gold miner Evolution Mining. Evolution in March launched a C$343-million deal to acquire Battle North Gold Corporation, to gain ownership of the Bateman gold project in the Red... 

Miners welcome resource funding, but petroleum levy questioned

By: Esmarie Iannucci     12th May 2021 The resources sector has welcomed measures by the federal government to boost resource investment and growth. During the 2021-22 Budget, the federal government announced a A$100-million investment to extend the Junior Minerals Exploration Incentive for a further four years, from July 2021, to... 

Miners welcome resource funding, but petroleum levy questioned

Hydrogen and new gas a focus of 2021/22 Budget

By: Esmarie Iannucci     12th May 2021 The federal government has announced a number of investments into low emissions technologies and reduce emissions during is 2021-22 Budget. Minister for Energy and Emissions Reduction Angus Taylor said the Budget is supporting the Government’s responsible and pragmatic approach to energy policy... 

Renewable energy projects under investigation across AngloGold   

By: Martin Creamer     11th May 2021 Renewable energy projects are under investigation across the entire AngloGold Ashanti group, AngloGold Ashanti VP: environment Tony Da Cruz told Mining Weekly on Tuesday. Da Cruz reported that the gold mining company is also working with industry peers and vehicle original-equipment manufacturers... 

AngloGold Ashanti presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

NextSource starts procuring equipment for Madagascar graphite mine

By: Creamer Media Reporter      11th May 2021 Toronto-listed NextSource has started procurement of processing plant equipment for its Molo graphite mine, in Madagascar, ahead of expected mine construction starting in August. Purchase orders have been placed for primary, flash flotation and attrition mills, flotation columns and cleaning... 

Tsodilo starts studies for PEA of Botswana iron project

By: Creamer Media Reporter      11th May 2021 Diamond and metals exploration company Tsodilo Resources has initiated geochemical analysis for grade determination and geotechnical test work for rock mass rating evaluation for the preliminary economic assessment (PEA) of its Xaudum Iron Formation (XIF) project, in Botswana. As part of the... 

Lundin Gold’s Hochstein to chair Denison board

By: Mariaan Webb     11th May 2021 Ron Hochstein, president and CEO of Ecuador-focused Lundin Gold, has been elected to chair the board of Denison Mines, the Canadian uranium developer announced on Tuesday. 

Lundin Gold’s Hochstein to chair Denison board
Ron Hochstein

Gold holds near three-month high as inflation, Fed in focus

By: Bloomberg     11th May 2021 Gold held near the highest level in three months as investors weighed growing inflation risks and comments from Federal Reserve officials on the labor market for clues on monetary policy going forward. Bond market expectations for the pace of consumer price inflation over the coming half decade... 

Gold holds near three-month high as inflation, Fed in focus

Gerald Group resolves iron-ore dispute with Sierra Leone

By: Reuters     11th May 2021 US commodity trader Gerald Group will pay Sierra Leone $20-million and cede a 10% stake in an iron-ore project as part of the resolution to a nearly two-year dispute that led to the shutdown of production, the company said. Gerald's wholly owned subsidiary SL Mining filed for arbitration in... 

Fluor well positioned to meet global energy transition demands

By: Tasneem Bulbulia     11th May 2021 The global energy transition is driving significant demand for reliable and cost-effective renewable energy, as well as for minerals and alternative battery materials, states engineering company Fluor. Fluor Mining and Metals VP Russell Ayres points out that the company had, earlier this year,... 

Regulator gears up to evaluate new discounted tariff deal for Hillside smelter 

By: Terence Creamer     11th May 2021 The National Energy Regulator of South Africa (Nersa) has invited stakeholder comment on a proposed 10-year negotiated pricing agreement (NPA) between Eskom and the Hillside aluminium smelter, in KwaZulu-Natal, which is owned by South32 and is Eskom’s largest single customer. The proposed NPA is... 

 Regulator gears up to evaluate new discounted tariff deal for Hillside smelter
The Hillside aluminium smelter

GoviEx’s Chirundu mining licence in Zambia reinstated

By: Tasneem Bulbulia     11th May 2021 Exploration and development company GoviEx Uranium has received a letter from Zambia’s Mining Cadastre department notifying it that the previously cancelled Chirundu mining licence has been reinstated. The reinstatement of the mining licence, however, remains subject to the completion of certain... 

Nordgold launches Covid-19 vaccination programme

By: Tasneem Bulbulia     11th May 2021 Internationally diversified gold producer Nordgold has launched a Covid-19 vaccination campaign at several of its mines. It is working with local authorities to safeguard the health of its employees, their families and surrounding communities, the company says. 

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