R/€ = 16.91 Change: 0.14
R/$ = 16.44 Change: -0.11
Au 1799.20 $/oz Change: -9.66
Pt 866.50 $/oz Change: -19.50

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Mkango celebrates Songwe Hill DFS completion milestone

By: Schalk Burger     Updated 3 hours ago Rare earth elements mineral exploration and development company Mkango Resources has completed a definitive feasibility study (DFS) for its Songwe Hill rare earths project, in Malawi, which estimates that the company will have to invest $277-million in the project’s development. The TSX-V- and... 

An image of neodymium rare earths

FFI looks at hydrogen in Djibouti

By: Esmarie Iannucci     Updated 6 hours ago The green energy arm of Fortescue Metals, Fortescue Future Industries (FFI) is looking at hydrogen options in Djibouti. FFI is partnering with the government of the Republic of Djibouti to conduct studies with a view to developing green hydrogen production in the region, and has signed a... 

Keliber deposit testwork produces battery-grade lithium hydroxide

By: Tasneem Bulbulia     Updated 5 hours ago Finnish mining and battery chemical company Keliber, in which diversified miner Sibanye-Stillwater owns a significant interest, has completed a four-phase pilot-scale test programme and verified the behaviour of the ore from the company's largest deposit, Rapasaari, at all stages of the... 

Firefinch sells stake in Leo Lithium

By: Esmarie Iannucci     Updated 6 hours ago Gold miner Firefinch has sold 28.6-million of its shares in lithium spin-off Leo Lithium at a price of 45.5c each, garnering revenues of A$12.9-million. Leo Lithium started share trading in June following a successful initial public offering (IPO) in May, during which Leo raised A$100-million... 

South Africa’s 400 abandoned coal mines pose deadly, toxic risk

By: Bloomberg     Updated 5 hours ago South Africa has failed to clean up and secure hundreds of abandoned coal mines that now pose a deadly threat to nearby communities, according to Human Rights Watch. There are more than 400 empty coal mines across the nation, which exports the fossil fuel and uses it to generate about 80% of its... 

Firm says at least 32 companies likely to delist from South Africa’s exchanges this year

By: Marleny Arnoldi     Updated 1 hour 55 minutes ago South Africa’s stock exchanges are set to experience a few delisting’s in the remainder of the year, which is likely to take the full-year total to at least 32. Consultancy AmaranthCX reports that South Africa had 332 listed companies at the start of the year, across the JSE and three other... 

AfriTin subsidiary secures N$100m lending facility to further Uis project’s development

By: Tasneem Bulbulia     Updated 3 hours ago Aim-listed AfriTin Mining’s majority owned subsidiary, Uis Tin Mining Company, has entered into a conditional, credit-approved term sheet for a lending facility with the Development Bank of Namibia to fund the Uis Phase 1 Stage II Continuous Improvement project, in Namibia. The proposed lending... 

Glacier Lake needs more time to complete KalPlats buy

By: Mariaan Webb     Updated 5 hours ago The owners of the Kalahari palladium/platinum (KalPlats) project that TSX-V-listed Glacier Lake Resources has its eye on, has given the Canadian junior more time to complete the transaction. Glacier Lake said on Monday that the outside date for its acquisition of KalPlats, near Vryburg in the... 

Edenville restructures board as it plans to expand Rukwa project

By: Tasneem Bulbulia     Updated 1 hour 59 minutes ago Aim-listed Edenville Energy, operator of the Rukwa coal project, in Tanzania, has announced the restructuring of its board as the company plans to expand the project to benefit from the increased demand and pricing for coal, together with exploring other opportunities to broaden the company’s... 

Gold teeters above $1 800 as lower yields counter dollar strength

By: Reuters     4th July 2022 Gold inched higher in choppy trade on Monday, as weakness in Treasury yields kept prices above the $1 800 mark and marginally outweighed pressure stemming from an elevated US dollar. Spot gold was up 0.1% at $1 811.76/oz, as of 05:44 GMT. US gold futures rose 0.7% to $1 813.70. Bullion prices... 

Congo orders China's CMOC to stop exports from Tenke Fungurume cobalt mine

By: Reuters     Updated 2 hours 22 minutes ago A temporary administrator appointed by a Congolese court to run the world's second-largest cobalt mine ordered majority owner CMOC to suspend marketing and export of its production, letters seen by Reuters showed. CMOC, which has previously said that Tenke Fungurume Mining (TFM) remains under its... 

Resolute rejoices as Mali sanctions are lifted

By: Esmarie Iannucci     Updated 5 hours ago Gold miner Resolute Mining has welcomed the decision by the Economic Community of West African States (Ecowas) to lift sanctions against Mali, where it operates the Syama gold mine. Sanctions were imposed on Mali in January this year after the military government said it would not organise... 

Caledonia declares quarterly dividend, reports strong output

By: Tasneem Bulbulia     Updated 5 hours ago NYSE- and Aim-listed Caledonia Mining, which owns and operates the Blanket gold mine, in Zimbabwe, has declared a quarterly dividend of $0.14. Gold production so far this year has been strong and Caledonia says it is on track to reach targeted production of 73 000 oz to 80 000 oz of gold this year. 

Zimbabwe to introduce gold coins as local currency tumbles

By: Reuters     Updated 5 hours ago Zimbabwe's central bank said it would start selling gold coins this month as a store of value to tame runaway inflation, which has considerably weakened the local currency. The central bank governor John Mangudya said in a statement on Monday that the coins will be available for sale from July 25... 

Newmont agrees to profit-sharing bonus at Peñasquito

By: Mariaan Webb     Updated 7 minutes ago Gold major Newmont on Tuesday announced an uncapped profit-sharing bonus of up to 10% for workers at its Peñasquito mine, in Mexico, costing the company $70-million this year. “We are pleased to have reached this agreement with the National Union of Mining, Metallurgical, Iron and Steel and... 

KonNx portfolio ensures constant connection, safety

By: Simone Liedtke     Updated 2 hours 29 minutes ago In an effort to ensure constant connection between power cables, the relevant equipment and electricity, high voltage cable coupler manufacturer KonNx designs, manufactures and distributes high and low voltage cable couplers and connectors for use in heavy industrial applications (such as... 

Bank of England takes deep dive into 'opaque' commodities

By: Reuters     Updated 2 hours 59 minutes ago  The Bank of England said on Tuesday it will conduct an in-depth analysis of "opaque" commodity markets after Russia's invasion of Ukraine left the central bank without a full picture of risks and vulnerabilities. Just as the global financial crisis threw a spotlight on unregulated so-called... 

Coal imports pour into energy-starved Europe from around the globe

By: Bloomberg     Updated 3 hours ago A hunt by Europe’s coal consumers to replace Russian cargoes with shipments from across the globe has boosted imports to a key hub by more than a third, helping to fill severely depleted stockpiles. Coal poured into the Antwerp-Rotterdam-Amsterdam region -- a huge transport hub for energy and... 

Coal imports pour into energy-starved Europe from around the globe

Potential $70m lifeline for Nevada Copper

By: Mariaan Webb     Updated 3 hours ago Embattled miner Nevada Copper on Monday announced nonbinding terms with its senior lender, KfW IPEX-Bank, and its biggest shareholder, Pala Investments, for a loan of up to $70-million. The copper producer, which at the weekend suspended mining activities at Pumpkin Hollow, reported that the... 

Potential $70m lifeline for Nevada Copper

Galantas starts underground production at Omagh

By: Creamer Media Reporter      Updated 5 hours ago Dual-listed Galantas Gold has started underground production at the Omagh project, in Northern Ireland, with longhole drilling commencing in the first series of stopes. Installation of the secondary egress from the 1 096 to 1 052 level is in the final stage of completion and is expected to be... 

Galantas starts underground production at Omagh

True North Gems to buy stake in James Bay area lithium project

By: Mariaan Webb     Updated 5 hours ago TSX-V-listed True North Gems has organised a subsidiary – to be named Laval Critical Elements – to acquire a 50% interest in the Cyr-Kapiwak lithium project in the James Bay area of Quebec. Laval Critical Elements will buy the project, comprising 42 mineral claims over 2 220 ha, from Lithium One... 

Russian tycoon Potanin to start Nornickel-Rusal merger talks

By: Bloomberg     Updated 5 hours ago Billionaire Vladimir Potanin, the biggest investor in MMC Norilsk Nickel, said he’s ready to discuss merging the mining giant with United Co Rusal International as sanctions against Russia weigh on both companies. Potanin has headed Nornickel since striking a 2012 shareholder accord with... 

Am image of Russian billionaire Vladimir Potanin
Russian billionaire Vladimir Potanin

Ball in Mexico govt’s court to correct title issuance procedures – Almaden

By: Mariaan Webb     Updated 6 hours ago The Supreme Court of Justice has formally notified the Mexico Economy Ministry (Economia) of its April decision declaring TSX- and NYSE American-listed Almaden Minerals’ titles relating to the Ixtaca project “ineffective”. However, the mineral title applications were filed in conformity with... 

Regis marks record quarter and full year

By: Esmarie Iannucci     Updated 6 hours ago Gold miner Regis Resources has reported record production in the June quarter, as well as the 2022 financial year. Gold production in the June quarter reached 123 901 oz, with the Duketon operation contributing 92 800 oz and the Tropicana mine contributing 31 100 oz. The June quarter production... 

Westgold hits production target

By: Esmarie Iannucci     Updated 6 hours ago ASX-listed Westgold Resources has hit its production target for the 2022 financial year, producing 270 878 oz of gold, setting a new production record. For the fourth quarter ending June, the company produced 72 591 oz of gold, with the Cue gold operation, in Western Australia, producing a... 

Stavely raises cash for Victorian exploration

By: Esmarie Iannucci     Updated 6 hours ago Junior Stavely Minerals will raise A$4-million in a share placement to fund exploration and resource definition drilling at its copper/gold project in Western Victoria. The ASX-listed company on Tuesday reported that it would place some 26.7-million shares, at a price of 15c each under its... 

Former IOCC CFO appointed at Champion Iron

By: Mariaan Webb     Updated 7 hours ago Donald Tremblay, a former CFO of Rio Tinto’s Iron Ore Company of Canada (IOCC) has been appointed CFO at Champion Iron. “We are thrilled to welcome Donald Tremblay to our executive team,” stated Champion CEO David Cataford. “His expertise in the mining sector and experience as an executive of... 

Chile delivers final Constitution draft as skepticism runs high

By: Bloomberg     Updated 7 hours ago Chile’s Constitutional Convention presented the final version of the charter that will be put to a referendum as a growing number of voters question the broad changes it would enact from social rights to political rules. The institution’s leadership handed the draft to President Gabriel Boric at... 

Whitehaven facing legal challenges over Narrabri expansion

By: Esmarie Iannucci     5th July 2022 Coal miner Whitehaven Coal is facing a legal challenge to the State Significant Development Consent for the Narrabri Stage 3 extension project, in New South Wales, which was granted by the state’s Independent Planning Commission (IPC) in April this year. The proposed extension would extend the... 

GGG secures arbitration funding

By: Esmarie Iannucci     5th July 2022 ASX-listed Greenland Minerals (GGG) has secured litigation funding from Woolridge Investments, a wholly-owned subsidiary of Burford Capital, to fully fund the arbitration costs in the dispute with the government of Greenland and the government of the Kingdom of Denmark. GGG earlier this year... 

Kingston launches review of Misima

By: Esmarie Iannucci     5th July 2022 ASX-listed Kingston Resources has launched a strategic review of its Misima gold project assessing options to maximise shareholder value. Kingston said on Tuesday that the strategic review would be conducted in parallel with ongoing mining license and environmental and social impact assessment... 

Industry taxes reach record heights - report

By: Esmarie Iannucci     5th July 2022 Company tax and royalty payments from the Australian resources sectors reached a record A$43.2-billion in the 2020-21 financial year, up 16% on the previous financial year. A report released by advisory firm Ernst & Young, commissioned by the Minerals Council of Australia, revealed that company... 

Genesis confirms bid for Dacian Gold

By: Esmarie Iannucci     5th July 2022 ASX-listed Genesis Minerals on Tuesday confirmed its growth aspirations in Western Australia, unveiling a recommended takeover offer of gold miner Dacian Gold. Both Genesis and Dacian went into a trading halt at the start of the week, as reports emerged that Genesis had made a takeover offer... 

Image shows the Mount Morgans operation

Plans under way to extend the ADGSM

By: Esmarie Iannucci     5th July 2022 The federal government is looking to extend the Australian Domestic Gas Security Mechanism (ADGSM) until 2030 to ensure the mechanism is available to help secure ongoing domestic gas supplies in the next decade. Minister for Resources and Northern Australia Madeleine King said the existing ADGSM... 

Billionaire Oppenheimer wins ban on mining at Zimbabwe farm

By: Bloomberg     4th July 2022 Billionaire Nicky Oppenheimer, South Africa’s second-richest man, won a court order to temporarily halt mineral exploration on his private family ranch in Zimbabwe. Pearline Mineral Exploration must cease any mining activities on the 65,000-hectare (251-square mile) Shangani Ranch, according to a... 

Osisko’s Gaspé copper project option extended

By: Mariaan Webb     4th July 2022 TSX-V-listed Osisko Metals’ option to acquire the Gaspé copper project from Glencore Canada has been extended to the end of the week, the company announced on Monday. Osisko in March announced the option to acquire the past-producing eastern Quebec copper mine, and said at the time that it had... 

Alara forms JV to bid for Saudi zinc-copper exploration licence

By: Darren Parker     4th July 2022 ASX-listed metals explorer and developer Alara Resources is hopeful that it will return to Saudi Arabia, announcing on Monday that it had formed a joint venture (JV) to bid for the award of a 353 km2 exploration licence that includes the company’s former Khnaiguiyah zinc-copper project. Alara... 

EcoGraf appoints new COO

By: Darren Parker     4th July 2022 Battery anode materials company EcoGraf has appointed experienced executive Dale Harris as COO to drive the development of its integrated battery graphite businesses. Harris spent 20 years working for diversified mining major Rio Tinto, becoming Rio Tinto Iron Ore COO and filling several GM... 

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