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Africa News

New production targets for Sandfire as Simich steps down

By: Esmarie Iannucci     Updated 6 minutes ago Copper/gold miner Sandfire Resources has lifted its production guidance for 2023, announced the departure of its MD and CEO, Karl Simich, and completed a key financing milestone for its Motheo project, in Botswana. Sandfire on Friday announced that group production for the 2023 financial year is... 

Ramaphosa backs Ministers as he admits load-shedding is ‘calamity of enormous proportions’ 

By: Terence Creamer     29th September 2022 President Cyril Ramaphosa has acknowledged that the current load-shedding crisis is a “calamity of enormous proportions” but has backed Ministers Gwede Mantashe and Pravin Gordhan after the leader of the opposition asked why the two Minister had not been dismissed After noting that the country... 

President Cyril Ramaphosa
President Cyril Ramaphosa

ESG risks and geopolitics ranked top risks for mining companies – survey

By: Creamer Media Reporter      29th September 2022 Global mining and metals executives rank environment, social and governance (ESG), geopolitics and climate change as the top three risks facing their business over the next 12 months, a survey by consultancy EY has found. “We have witnessed huge upheaval and change over the last year, namely due... 

Not much activity in the gold markets in August – WGC

By: Darren Parker     29th September 2022 Gold-related activity among central banks was muted in August, with only a handful of banks meaningfully contributing to the overall monthly total, World Gold Council (WGC) senior analyst Krishan Gopaul said on September 29 with the release of the WGC’s quarterly statistical update on gold... 

gold coins stacked

Hydrogen projects bankable, with caveats

By: Tasneem Bulbulia     29th September 2022 Hydrogen projects are bankable and capital is available to fund them, but there are measures that must be pursued to ensure South Africa can capitalise on these projects and get its share of the available funding to get projects off the ground. This was a key message from a panel discussion... 

IAMGOLD is nearing its 70% interest after six years of investment in Senala project

By: Marleny Arnoldi     29th September 2022 Aim-listed Oriole Resources has announced its joint venture partner IAMGOLD Corporation is in the penultimate year of a six-year option agreement to earn a 70% interest in the Senala project, in Senegal. IAMGOLD earns this interest by spending up to $8-million on the project.  

Top coal miners consider bids for South African renewables firm

By: Bloomberg     29th September 2022 Exxaro Resources and Thungela Resources, South Africa’s two largest coal miners, are considering bids for Actis’ BTE Renewables, according to people with knowledge of the matter. Chinese firms are also interested in acquiring the assets, said the people who asked not to be identified as the... 

Gemfields reports record interim auction revenues

By: Darren Parker     29th September 2022 Gemstones supplier Gemfields has reported “record-breaking” auction revenues and an “all-time high” cash position for the six months ended June 30, resulting in the company declaring an interim dividend of $15-million. Gemfields reported revenues of $193.2-million for the interim period, up from... 

emeralds

EPCM phase gets under way at Dasa uranium project

By: Creamer Media Reporter      29th September 2022 Toronto- and Frankfurt-listed Global Atomic has signed Development Consultants Private (DPCL) of Kolkata, India, and Lycopodium Minerals of Canada to start the basic and detailed engineering, procurement and project management of the Dasa mine processing plant in Niger. These engineering and... 

Eskom expects restatements of FY21 results, to publish FY22 results end-November

By: Marleny Arnoldi     29th September 2022 In addition to Public Enterprises Minister Pravin Gordhan confirming on September 28 that Eskom will not have its annual financial statements ready by the statutory deadline of September 30, the State-owned power utility has announced that the results will be published by end November. Eskom... 

Medupi power station
Medupi power station

Collaboration key to realising Africa’s green hydrogen economy potential

By: Tasneem Bulbulia     29th September 2022 There is considerable potential for Africa to capitalise on the opportunities presented by the green hydrogen economy, and for South Africa to be the hub out of which this is done; however, a key requirement of this will be collaboration. This was the key message from opening keynote speakers... 

Implats raises its stake in RBPlat to 40.46%

By: Darren Parker     29th September 2022 Platinum group metals producer Impala Platinum (Implats) has again raised its stake in Royal Bafokeng Platinum (RBPlat), from the 40.11% announced on September 19 to 40.46%. Implats announced on September 29 that it had concluded agreements to acquire about one-million additional RBPlat shares,... 

Resources Watch  

29th September 2022 This week: World’s largest battery-electric mine truck heading for commercial availability in 2024 And, Women-owned company aims to revive SA’s phosphate industry after securing mining right 

Resources Watch
Resources Watch

EcoGraf planning bigger BAM facility

By: Esmarie Iannucci     29th September 2022 Triple listed EcoGraf has announced plans to scale-up its battery anode material (BAM) facility, in Western Australia, following multiple approaches from electric vehicle manufacturers in Europe and North America. The company’s original plans for the BAM facility would have seen a 5 000 t/y... 

Minerals Council ‘absolutely adamant’ about need for commercially available cadastre  

By: Martin Creamer     29th September 2022 The key objective of transparency in applying for prospecting rights and mining rights – and openly managing them – can be enabled by a commercially available cadastre system. While South Africa does not have such a cadastre, fellow African countries that are already thriving on it include... 

Minerals Council South Africa’s Junior and Emerging Miners Desk head Grant Mitchell.
Junior and Emerging Miners Desk webinar covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Botswana's Morupule aims to boost coal output by 50% with new mine

By: Reuters     28th September 2022 Botswana President Mokgweetsi Masisi on Wednesday commissioned a new 1.4-million tonne per year coal mine at state-owned Morupule Coal Mine (MCM), aiming to increase exports after demand for the fuel boomed since the start of the war in Ukraine. Despite the country's estimated 212-billion tonnes... 

PTM appoints Blair permanent CFO

By: Marleny Arnoldi     28th September 2022 TSX-listed Platinum Group Metals (PTM) has permanently appointed Greg Blair CFO, effective September 27. He has served as interim CFO since July 2021.  

Zambia's Konkola Copper Mines hires RMB to find new investor

By: Reuters     28th September 2022 Zambia's Konkola Copper Mines (KCM) has appointed Rand Merchant Bank (RMB) as financial advisor as the government searches for a new investor to expand the copper mine and smelter, the company's state-appointed provisional liquidator said on Wednesday. Zambia's previous government put KCM in the... 

Omnia commissions reverse osmosis plant to enhance Sasolburg site water efficiency

By: Schalk Burger     28th September 2022 JSE-listed diversified chemicals company Omnia has commissioned a reverse osmosis water treatment plant at its Sasolburg site to enhance its water efficiency and reduce water consumption by recycling the cooling tower discharge into the cooling tower make up. Reverse osmosis is a process of water... 

Anglo Coal spinoff looks cheap against peers after 1 300% surge

By: Bloomberg     28th September 2022 Thungela Resources has soared more than 1 300% since the South African coal miner was carved out of Anglo American Plc last year. But despite this scorching rally, investors value the stock at a discount to worldwide peers, whose reserves of the fuel may last longer. Thungela’s shares trade at... 

Each Anglo Platinum employee to receive R8 000 worth of shares a year 

By: Martin Creamer     28th September 2022 Platinum group metals (PGMs) mining and marketing company Anglo American Platinum has launched a new employee share ownership plan (Esop), which it envisages will be implemented in the fourth quarter of this year. The Esop involves employees receiving Anglo Platinum listed shares to the value of... 

Anglo American Platinum Executive Head Human Resources Virginia Tyobeka.
Anglo American Platinum Executive Head Human Resources Virginia Tyobeka.

Metals for cleaner future being turned to account in minerals-endowed Northern Cape 

By: Martin Creamer     28th September 2022 South Africa’s critical minerals potential is being highlighted in an increasingly promising manner by Orion Minerals, the Sydney- and Johannesburg-listed company that is showing the way in the minerals-endowed Northern Cape. Orion, headed by its Boksburg-born CEO Errol Smart, is poised to bestow... 

Orion Minerals reaping rewards from South Africa's minerals-endowed but under-explored Northern Cape.
Orion Minerals reaping rewards from South Africa's minerals-endowed but under-explored Northern Cape.

BOD officially concludes Vutomi acquisition after a year of approvals

By: Marleny Arnoldi     28th September 2022 London-listed Botswana Diamonds (BOD) has finally announced the conclusion of acquisition of the outstanding third-party shares in Vutomi Mining and Razorbill Properties 12. The acquisition of Vutomi had been dependent on customary regulatory and competition authority approvals in South Africa.  

Jagersfontein mine dam owner denies second collapse

By: Reuters     28th September 2022 Jagersfontein Developments, the owner of a mine waste dam that partially collapsed two weeks ago, denied on Wednesday that another dam wall had collapsed, contradicting a statement from the Free State provincial government. "There has been no further breach of any kind at the facility," the... 

NUM asks that Eskom board restructuring includes public participation

By: Marleny Arnoldi     28th September 2022 The National Union of Mineworkers (NUM) has welcomed Public Enterprises Minister Pravin Gordhan’s plan to restructure and reconstitute the board of State-owned power utility Eskom. The Minister announced on September 27 that government would soon start the process of restructuring the board,... 

Shale gas science action plan emphasises research, consultation, oversight and compliance

By: Schalk Burger     28th September 2022 The ‘Science Action Plan (SAP) for Shale Gas in the Karoo Basin’ proposes a raft of integrated actions and research topics to ensure South Africa approaches the potential exploitation and production of shale gas with the necessary technical competence, oversight, safety and environmental... 

Residents urged 'not to panic' after Jagersfontein hit by another dam wall collapse

By: News24Wire      28th September 2022 Yet another dam wall collapse hit disaster-stricken town Jagersfontein, the Free State government confirmed on Tuesday night. Palesa Chubisi, spokesperson for Free State Premier Sisi Ntombela, said: 

BHP redeems notes

By: Esmarie Iannucci     28th September 2022 Diversified giant BHP has announced the early redemption of £600-million Sterling hybrid notes, which were issued in October 2015. The notes were issued by BHP Billiton Finance and due in 2077, however, the miner on Wednesday said that in accordance with its group strategy and strong liquidity... 

Zambia, Vedanta Resources agree to seek out-of-court settlement

By: Reuters     27th September 2022 Zambia has agreed with Vedanta Resources Limited to pause hearings on their dispute over Konkola Copper Mines for six months and seek an "amicable settlement", State mining investment firm ZCCM-IH said on Tuesday. Zambia in May 2019 handed control of KCM to a State-appointed provisional... 

WMI, Sibanye stress importance of innovation in a changing mining industry

By: Marleny Arnoldi     27th September 2022 Opening the annual University of the Witwatersrand Mining Institute (WMI) seminar on September 27, the Engineering and the Built Environment faculty Dean Professor Thokozani Majozi said diversity and transformation, as well as full digital migration, was a necessity for sustainability and growth.... 

Cora delays Sanankoro DFS

By: Darren Parker     27th September 2022 West Africa-focused gold company Cora Gold has announced that the definitive feasibility study (DFS) for the Sanankoro gold project, in southern Mali, will not be completed during the third quarter as previously announced. Instead, Cora said on September 27 that, while several of the DFS work... 

Gemfields records revenues of $4.2m from ruby auction

By: Tasneem Bulbulia     27th September 2022 Aim-listed Gemfields generated revenues of $4.2-million from an auction of predominantly commercial-quality sapphire, corundum and low-quality ruby held from September 19 to 23. The gemstones were extracted by Montepuez Ruby Mining (MRM), which is 75%-owned by Gemfields and 25% by Mwiriti Limitada. 

Germany, France in climate deal loan talks with South Africa

By: Bloomberg     27th September 2022 Germany and France are in talks with South Africa’s National Treasury over about €600-million to help it transition away from the use of coal. The loans may form the first part of $8.5 billion in financing offered to the country during last November’s global climate summit. The money will go some... 

Pensana commits to producing lowest embedded carbon rare earths, net zero by 2040

By: Tasneem Bulbulia     27th September 2022 London-listed Pensana Rare Earths has released its Blueprint for Sustainable Rare Earths, setting out the company’s aim to produce the lowest embedded carbon products in the rare earth industry, as well as a “deep and meaningful” carbon reduction with the aim to achieve net zero across the value... 

Petra subsidiary amends offer terms

By: Tasneem Bulbulia     27th September 2022 Aim-listed Petra Diamonds has announced early tender results and the amendment of offer terms for its subsidiary’s invitation to buy senior secured second lien notes due 2026. On September 13, Petra’s wholly-owned subsidiary, Petra Diamonds US Treasury (PDUST) announced its invitation to offer to... 

Green hydrogen, fuel cells important part of any future energy system, says global strategist  

By: Martin Creamer     27th September 2022 Green hydrogen and fuel cells will be a very important part of any future energy system, says Switzerland-based energy and sustainability consultancy strategist Dr David Hart. Among the electrolysers that convert renewable electricity into green hydrogen are proton exchange membrane (PEM)... 

Dr David Hart, E4tech.
E4tech’s Dr David Hart interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

MC Mining to raise A$40m for Makhado

By: Esmarie Iannucci     27th September 2022 Triple listed MC Mining has launched a 1.012-for-1 fully underwritten pro-rata renounceable rights issue to raise funds for its Makhado hard coking coal project, in South Africa. The ASX, Aim, and JSE-listed company is hoping to raise some A$40-million under the rights issue, which will be... 

Nachu gets new costing

By: Esmarie Iannucci     27th September 2022 An updated bankable feasibility study (BFS) into the Nachu graphite project, in Tanzania, has estimated that the project would require a capital investment of $324-million. ASX-listed Magnis Energy Technologies on Tuesday reported that the updated estimated that the five-million tonne a year... 

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