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Africa News
Thungela declares whopping R8.2bn half-year dividend on R8.9bn free cash
By: Martin Creamer Updated 52 minutes ago JSE- and London-listed thermal coal-mining and marketing company Thungela has approved the declaration of an interim gross ordinary cash dividend totalling R8.2-billion from retained earnings accrued during the six months to June 30, on profit for the reporting period of R9.6-billion, which is... →
Caracal reports continued progress at Kilimapesa project
By: Darren Parker Updated 1 hour 12 minutes ago LSE- and FSE-listed Caracal Gold has reported solid progress in the development of its Kilimapesa gold mine and processing operation, in Kenya, during the quarter ended June 30. Exploration on the Kilimapesa Hill Deposit (KHD), which began in December last year, culminated in an updated mineral... →
Bill Gates’ TerraPower raises $750m for cheaper nuclear
By: Bloomberg Updated 2 hours 3 minutes ago Bill Gates-backed TerraPower raised at least $750-million to advance efforts to develop small-scale nuclear reactors, including a major investment from South Korean conglomerate SK Group. SK will invest $250-million to add a stake in the technology developer, which aims to commercialize smaller... →
Barloworld plans gender-bond sale in first for South Africa
By: Bloomberg Updated 2 hours 7 minutes ago Barloworld, the South African car dealer and supplier of equipment to the mining industry, is marketing the nation’s first sale of debt linked to gender-diversity targets. The Johannesburg-based company is planning to raise as much as R1-billion in three-year and five-year bonds, with the rates... →
Company exploiting post-pandemic freedom with automation solutions
By: Simone Liedtke Updated 3 hours ago With the Covid-19 pandemic mostly a thing of the past, process automation solutions provider Ana-Digi Systems is using the new level of freedom to alleviate some of the problems caused by the worldwide shortage of electronic components by offering its various automation equipment products and... →
Golden Rim looking for new Kouri buyer
By: Esmarie Iannucci Updated 4 hours ago Junior Golden Rim Resources will look for a new buyer for its Burkina Faso assets, after BAOR SARL was unable to secure financing. Golden Rim had previously struck an agreement with BAOR to divest of the Kouri gold project in a transaction worth A$22.3-million, with the consideration to be paid... →
Seriti says R892m Windlab deal is ‘significant landmark’ in transition from coal to energy business
By: Terence Creamer Updated 4 hours ago Black-owned coal miner Seriti Resources says the R892-million acquisition of a majority stake in Windlab Africa’s wind and solar assets represents a significant landmark in the company’s ambition to become a diversified energy business, as well as in reducing its own carbon emissions. Through the... →
Seriti Resources CEO Mike Teke
Comprehensive range of engineering solutions provided to various industries globally
By: Simone Liedtke Updated 4 hours ago Established in 1978, UV+IR Engineering continues to adapt its products to customers’ special requirements offering numerous design, manufacture, install and commission options for various engineering solutions. UV+IR Engineering’s host of turnkey solutions includes its mineral driers range, which... →
Stillwater repositioned for delivery through commodity cycle 
By: Martin Creamer 12th August 2022 Prevailing macro-environment challenges and changing palladium market conditions have prompted a strategic revision of Sibanye-Stillwater’s United States platinum group metal (PGM) operations, which in June suffered a one-in-200-year flood at Stillwater, in the Montana region. These challenges... →
Amplats concludes R3.5bn sale of Bokoni to ARM
By: Marleny Arnoldi 12th August 2022 JSE-listed Anglo American Platinum (Amplats) and Canada-based joint venture (JV) partner and platinum miner Atlatsa Resources Corporation have completed all conditions precedent for the sale of their 49% and 51% interests, respectively, in Bokoni Platinum Mines. Bokoni is being sold to a... →
Lithium value to remain high amid accelerated demand, tight supply – Fitch Solutions 
By: Donna Slater 12th August 2022 Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) says lithium prices will remain “extremely” elevated this year and next, as accelerating demand for lithium-ion batteries and a tight upstream supply keep market supply... →
EVs will continue to be a big driver of demand for lithium
Special Investigating Unit raids Alexander Bay Diamonds
By: Darren Parker 12th August 2022 The Johannesburg Magistrate Court on August 10 granted the Special Investigating Unit (SIU) a warrant to conduct a search and seizure at the premises of diamond company Alexander Bay Diamonds – previously known as Scarlet Sky Investments – and related companies. SIU investigators, with the... →
Indian companies swapping dollar for Asian currencies to buy Russian coal
By: Reuters 12th August 2022 Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the US dollar and cutting the risk of breaching Western sanctions against Moscow. Reuters previously reported on a large Indian coal deal... →
Dasa operating company formed, board and management appointed
By: Creamer Media Reporter 12th August 2022 Toronto-listed Global Atomic has announced the incorporation of Société Minière DASA or Somida, the company's Niger mining subsidiary under which the Dasa uranium project will operate. Moussa Souley, the former MD of Orano's Cominak mine, has been appointed MD of Somida and mining engineer... →
SAIMM honours Cutifani with Brigadier Stokes Memorial Award
By: Marleny Arnoldi 12th August 2022 Mining organisation the Southern African Institute of Mining and Metallurgy has honoured former Anglo American CE Mark Cutifani with the Brigadier Stokes Memorial Award for transforming one of the world’s biggest mining companies. The award is considered the highest honour to be bestowed by the... →
Former Anglo American CE Mark Cutifani
South Africa needs special unit to crack down on illegal mining, Mantashe urges
By: News24Wire 12th August 2022 Mineral Resources and Energy Minister Gwede Mantashe says the country needs a dedicated team to clamp down on illegal mining in South Africa, adding that it will take several years for the government to seal open mine shafts. Mantashe and Police Minister Bheki Cele were briefing the National... →
Renewables gains momentum in mining
12th August 2022 Mining Weekly Editor Martin Creamer unpacks the news of Royal Bafokeng Platinum’s R1.6-billion 98 MW solar power plant; Barrick's renewable energy benefits; and the growing renewables momentum. →
Experts unpack why there are so few listed junior miners in South Africa
By: Marleny Arnoldi 12th August 2022 Experts in the spheres of law, mining and financial services are divided on whether South Africa’s public market has become too institutionalised, which, if so, makes access to capital for junior miners and exploration companies all the more challenging. With South Africa’s punching way above... →
Copper rises to 6-week high on US rate hike optimism
By: Reuters 11th August 2022 Copper prices hit a six-week high on Thursday as bets the US Federal Reserve will ease the pace of interest rate rises pushed up riskier assets and weakened the dollar, making dollar-priced metals cheaper for buyers with other currencies. US data on Wednesday suggested inflation may be peaking,... →
Congo's copper and cobalt output surges in Q1
By: Reuters 11th August 2022 Copper production in Democratic Republic of Congo, Africa's top miner of the metal, surged by 51% in the first quarter of 2022, and cobalt output rose by 37%, central bank statistics showed on Thursday. The central African country produced 572,983 tonnes of copper and 28,990 tonnes of cobalt in... →
Mining production, mineral sales decrease in June
By: Tasneem Bulbulia 11th August 2022 Mining production decreased by 8% year-on-year in June, Statistics South Africa (Stats SA) reports. The largest negative contributors were gold (-28.6% and contributing -4.7 percentage points); platinum group metals (PGMs) (-9.8% and contributing -2.4 percentage points); and coal (-6% and... →
Asante now a multi-asset company as Chirano sale closes
By: Mariaan Webb 11th August 2022 Vancouver-headquartered Asante Gold has transitioned into a multi-asset company with the closing of the Chirano mine, in Ghana. The company bought Chirano from fellow Kinross Gold for $225-million in cash and shares. →
Lucara starts shaft sinking at Botswana expansion project
By: Mariaan Webb 11th August 2022 Canada-based miner Lucara has started sinking the main shaft at its Karowe diamond mine expansion project, in Botswana, although it says that the transition from pre-sinking has taken longer than planned. The TSX- and LSE-listed miner says that it has identified opportunities to decrease the... →
Royal Bafokeng, Amplats agree to extend concentrate purchase agreement
By: Donna Slater 11th August 2022 Rustenburg Platinum Mines (RPM) – a wholly-owned subsidiary of Anglo American Platinum (Amplats), has agreed to extend its disposal of concentrate agreement (Doca) with Royal Bafokeng Resources (RBR) – a wholly-owned subsidiary of Royal Bafokeng Platinum (RBPlat), to February 10, 2023. This comes... →
Ironveld starts refurbishment work at Rustenburg smelter
By: Donna Slater 11th August 2022 Aim-listed iron, vanadium and titanium project developer Ironveld and its team of specialist contractors has started work at the mothballed Ferrochrome Furnaces (FCF) smelter site, in Rustenburg, in South Africa’s North West province. This follows the successful completion of a £4.5-million... →
Caledonia achieves strong second quarter, half-year performance
By: Tasneem Bulbulia 11th August 2022 Gold miner Caledonia Mining achieved a “terrific” quarter and six months ended June 30, with second quarter production of just over 20 000 oz, which set a record for any quarter, CEO Mark Learmonth acclaims in an operating and financial results update. Caledonia produced 20 091 oz of gold in the... →
Akobo Minerals signs mandate letter with international debt arranger
By: Tasneem Bulbulia 11th August 2022 Scandinavian-based Ethiopian gold exploration and boutique mining company Akobo Minerals has signed a mandate letter with an international debt arranger for a contemplated loan of up to $8-million. The contemplated loan is expected to provide Akobo with sufficient funding to complete its mining... →
Environmental, social and governance elevating to safety-equalling status, mining webinar hears
By: Martin Creamer 11th August 2022 The shift from linear to circular value chains has the potential to impact all aspects of mining and requires a rethink, Anglo American Platinum sustainable impact head Stephen Bullock has told a Southern African Institute of Mining and Metallurgy (SAIMM) webinar. In a presentation on the... →
West Wits raises cash
By: Esmarie Iannucci 11th August 2022 Gold miner West Wits Mining will raise A$2.5-million to fund development work at its Witwatersrand Basin gold project, in South Africa. The ASX-listed company on Thursday announced that it would issue 138.8-million shares, at a price of 1.8c each to sophisticated and professional investors,... →
Kayelekera restart to cost $88m
By: Esmarie Iannucci 11th August 2022 A definitive feasibility study (DFS) into the restart into the Kayelekera uranium project, in Malawi, has confirmed that the project would rank as one of the lowest capital cost uranium projects globally. ASX-listed Lotus Resources on Thursday reported that the project would require a capital... →
Outstanding Marikana matters set for completion by month-end
By: Tasneem Bulbulia 10th August 2022 The remaining 24 out of 48 Marikana litigation matters, which are currently under way, are anticipated to be completed by the end of this months, Department of Justice and Constitutional Development Solicitor General Fhedzisani Pandelani said during a media briefing on August 10. This update... →
St Helena launches second-in-series Queen’s Virtues platinum bullion coin
By: Marleny Arnoldi 10th August 2022 The World Platinum Investment Council has announced that the island of St Helena and East India Company have released the second in a six-series platinum bullion coin design in the St Helena Queen’s Virtues Series. This follows shortly after sales of its 1 oz platinum bullion American Eagle... →
Gold bounces above $1 800 after US inflation data
By: Reuters 10th August 2022 Gold prices charged higher and broke above the key $1,800 level on Wednesday after relatively tame US inflation readings prompted bets that the Federal Reserve may not opt for aggressive rate hikes. Spot gold rose 0.6% to $1 804.20 per ounce by 1249 GMT (8:49 ET). US gold futures jumped 0.6% to... →
Hard rock causes more delays at Elandsfontein, mine plan may need to be revisited
By: Marleny Arnoldi 10th August 2022 Aim-listed Kropz has reported a delay in the ramp-up of operations at the Elandsfontein phosphate mine, in South Africa’s Western Cape province, owing to unexpected ore variability. The company explains that mining rates and associated delivery of ore to the plant from the current mining area... →
Resources Watch
10th August 2022 This week: Royal Bafokeng applauds President’s energy plan, nears decision on solar; Anglo’s big on-site solar, off-site wind plan lays foundation for green hydrogen; and, High-flying Glencore locks in renewable power, prioritises future-facing metals →
Jubilee’s Inyoni delivers higher PGMs output, lower costs
By: Marleny Arnoldi 10th August 2022 As diversified metals miner and processor Jubilee Metals works to expand its platinum group metals (PGMs), copper and cobalt operational footprint, the company has reported a sharp increase in PGM production to 21 140 oz for the six months ended June 30 – the first half of the company’s 2023... →
Royal Bafokeng looking to R1.6bn off-balance-sheet spend on 98 MW solar plant
By: Martin Creamer 10th August 2022 Platinum group metals (PGMs) mining company Royal Bafokeng Platinum (RBPlat) is looking to off-balance-sheet capital expenditure of R1.6-billion for a 98 MW solar power plant. The photovoltaic (PV) plant will further buffer RBPlat and the region from load-shedding into the future should it prove... →
Renergen, CEF one step further in advancing agreement for Virginia gas project
By: Simone Liedtke 10th August 2022 South Africa’s Central Energy Fund (CEF) has completed its due diligence on its R1-billion investment in emerging integrated energy producer Renergen’s Virginia gas project. Marking a major step towards finalising the agreement between Renergen and the CEF, both parties have now started engaging... →
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