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Africa News

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     12th May 2021 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... 

Petra agrees to settlement over human rights abuses claims

By: Tasneem Bulbulia     12th May 2021 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

IFC could fund controversial gas-power ships in South Africa

By: Bloomberg     12th May 2021 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,... 

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

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... 

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

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. 

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

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

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. 

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... 

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... 

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... 

Renewable energy projects under investigation across AngloGold
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... 

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. 

Eastplats delivered 490.9 oz of PGMs in April

By: Tasneem Bulbulia     11th May 2021 Platinum group metals (PGMs) producer Eastern Platinum (Eastplats) in April dispatched 199.8 dry tonnes of PGM concentrates, containing 490.9 oz of PGMs, under its offtake agreement with Impala Platinum. This marks the first full month of PGM production following the recent completion of the... 

Big jump in earnings margin generates strong cash ­for Harmony Gold 

By: Martin Creamer     11th May 2021 Gold mining company Harmony Gold has delivered another strong set of operational results year-on-year on the back of the integration of AngloGold Ashanti assets into its portfolio and a stronger rand per kilogram gold price. The combination of a higher gold price received and improved earnings... 

Big jump in earnings margin generates strong cash ­for Harmony Gold
Harmony Gold CEO Peter Steenkamp

Marvel to spin-out Tanzanian graphite project

By: Esmarie Iannucci     11th May 2021 ASX-listed Marvel Gold on Tuesday announced plans to spin out and separately list its Chilalo graphite project, in Tanzania, into a wholly owned subsidiary called Evolution Energy Minerals. Marvel told shareholders that the proposed initial public offering (IPO) would raise a minimum of... 

Mystery of sanctioned tycoon's assets in Zimbabwe revival plan

By: Bloomberg     11th May 2021 In December, the government of Zimbabwe announced a multibillion-dollar project called Kuvimba Mining House that would hold some of the nation’s most valuable gold, platinum, chrome and nickel mines and whose revenue would be used to revive the country’s moribund economy. The venture would be 65%... 

Mystery of sanctioned tycoon's assets in Zimbabwe revival plan
Photo by Bloomberg
The Darwendale platinum mine project

Lucapa sells more diamonds

By: Esmarie Iannucci     11th May 2021 Diamond miner Lucapa Diamonds has sold a 4 000 ct parcel of diamonds, generating A$6.3-million in revenue. The sale excluded seven high value diamonds, including two pink diamonds, which have been put aside for later sale, the company said. 

Colleagues pay tribute to Wits’ Fred Cawood as he prepares to retire  

By: Donna Slater     10th May 2021 After 22 years with the Wits School of Mining Engineering, Wits Mining Institute director Professor Fred Cawood is planning to retire at the end of May, starting what he calls his “second life” at the age of 60. He explains that the theory behind a “second life” is based on Japanese work ethics... 

Colleagues pay tribute to Wits’ Fred Cawood as he prepares to retire
Colleagues wish Wits Mining Institute director Professor Fred Cawood farewell as he retires after serving 22 years in mining education

‘Right policy changes’ could ignite R150bn in electricity investment by private firms 

By: Terence Creamer     10th May 2021 Business Leadership South Africa, which is made up of some of South Africa's largest domestic and multinational companies, estimates that private firms would move to invest billions in new power generation capacity in the near term should the rules governing embedded or distributed plants be... 

 ‘Right policy changes’ could ignite R150bn in electricity investment by private firms

Investors bet billions that the metals bull run isn’t stopping

By: Bloomberg     10th May 2021 A year into the red-hot bull run in industrial metals that’s lifted copper to record highs, investors are still piling in, staking billions of dollars that it won’t run out of steam any time soon. The word from Wall St. is “don’t stop buying now", with Goldman Sachs Group and Bank of America... 

Investors bet billions that the metals bull run isn’t stopping

Low carbon world needs $1.7-trillion in mining investment

By: Reuters     10th May 2021 Mining companies need to invest nearly $1.7-trillion in the next 15 years to help supply enough copper, cobalt, nickel and other metals needed for the shift to a low carbon world, according to consultancy Wood Mackenzie. The United States, Britain, Japan, Canada and others raised their targets... 

Low carbon world needs $1.7-trillion in mining investment

Weekly Coal Index Report

10th May 2021 As the coal market rallies once more, Anglo Coal’s “Thungela” is about to see the light of day. It will no doubt act as a proxy for a pure-play tier one South African coal producer. Will shareholders abandon it as a dirty, unloved orphan, preferring the bright lights and promise of clean energy?... 

Weekly Coal Index Report

Release by AngloGold of vast exploration information attracting interest 

By: Martin Creamer     10th May 2021 The release by departing AngloGold Ashanti of its vast exploration information is attracting interest, AngloGold executive VP of group planning and technical Graham Ehm said on Monday. Contained online is an exploration database involving the historic Witwatersrand Gold Basin and other goldfields... 

Release by AngloGold of vast exploration information attracting interest
Photo by Creamer Media
AngloGold executive VP of group planning and technical Graham Ehm

Bibemi drilling analysis results delayed amid lab backlog

By: Tasneem Bulbulia     10th May 2021 Aim-listed Oriole Resources says it has been made aware of delays at the assaying laboratory in Côte d'Ivoire that have impacted turnaround times for the remaining results of the maiden diamond drilling programme at its 51%-owned Bibemi gold project, in Cameroon. The laboratory is reportedly... 

New report identifies global mining sector's carbon reduction opportunities

By: Tasneem Bulbulia     10th May 2021 The global mining industry must move away from legacy systems and processes if it is to meet the challenge of decarbonisation. This is according to a new report, ommissioned by engineering company Weir Group, which calculates mining’s share of global energy consumption and identifies ways the... 

Nersa urges stakeholders to join it in opposing Eskom’s latest court challenge 

By: Terence Creamer     10th May 2021 The National Energy Regulator of South Africa announced on Monday that it would oppose an Eskom High Court application seeking to review and set aside the Energy Regulator’s latest regulatory clearing account determination. In an unusual step, the regulator also urged other stakeholders to join... 

Nersa urges stakeholders to join it in opposing Eskom’s latest court challenge

Gem recovers another large diamond at Letšeng

By: Creamer Media Reporter      10th May 2021 LSE-listed Gem Diamonds has recovered a high-quality 370 ct Type II white diamond from the Letšeng mine in Lesotho. This follows the company's announcement on May 4 of the recovery of a high-quality 254 ct Type II white diamond. 

Gem recovers another large diamond at Letšeng

Iron-ore turns ‘very, very hot’ as prices jump 10% in minutes

By: Bloomberg     10th May 2021 Iron-ore futures leaped higher as trading opened on Monday, extending a record run amid rampant Chinese demand and a wider surge in commodity prices as the global economy recovers. Futures in Singapore jumped more than 10% to hit a fresh record high of $226 a ton. The steelmaking raw material is... 

Iron-ore turns ‘very, very hot’ as prices jump 10% in minutes

Fifteen killed in landslide at Guinea gold mine

By: Reuters     10th May 2021 A landslide at an artisanal gold mine has killed at least 15 people in northeastern Guinea, the government said on Sunday. The disaster took place on Saturday in remote Siguiri province, 800 km (500 miles) from the capital Conakry. The zone holds some of the West African country’s largest gold... 

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