R/€ = 19.5603 Change: -0.0462
R/$ = 18.1739 Change: 0.0886
Au 1996.41 $/oz Change: 2.39
Pt 975.70 $/oz Change: -8.97

Africa News

NUM opposes Amplats’ ‘migration’ from MHSA to OHSA

By: Darren Parker     14th March 2023 The National Union of Mineworkers (NUM) has condemned platinum group metals miner Anglo American Platinum’s (Amplats’) “migration” from the Mine Health & Safety Act (MHSA) to the Occupational Health and Safety Act (OHSA) at some of its operations, calling it unlawful. The union states that... 

Aterian reports high-grade copper from work at Morocco project

By: Tasneem Bulbulia     14th March 2023 London-listed Aterian has announced results, including 4.43% copper and 3.11% copper from brecciated vein samples from geological work completed on its Jebilet Est project. The project, which covers an area of 45.2 km2, is located north of Marrakech within the Marrakech-Safi region of Morocco. 

Banking has crucial role to play in enabling mining to transition to clean energy, says Nedbank CIB 

By: Martin Creamer     14th March 2023 The banking sector has a crucial role to play in enabling mining companies to transition to clean energy fully, says Nedbank Corporate and Investment Banking (CIB) principal for sustainable finance solutions Telvina Naidoo. “Innovative funding structures and sustainable-finance solutions can help... 

Nedbank Corporate and Investment Banking (CIB) principal for sustainable finance solutions Telvina Naidoo.
Nedbank Corporate and Investment Banking (CIB) principal for sustainable finance solutions Telvina Naidoo.

Infill drilling at Fortuna's Côte d'Ivoire project progresses

By: Creamer Media Reporter      14th March 2023 Canadian precious metals mining company Fortuna Silver Mines is progressing infill drilling at the Sunbird deposit, at its Séguéla gold project, in Côte d'Ivoire, with the aim to increase resource confidence. To date, 30 holes have been drilled in the first 4 560 m completed as part of a 9 500 m... 

Mining output declined for a twelfth consecutive month in January

By: Creamer Media Reporter      14th March 2023 Mining production experienced its twelfth consecutive month of year-on-year decline in January, recording a decrease of 1.9%, Statistics South Africa reports. The largest negative contributors were platinum group metals (PGMs), with output 15.2% lower year-on-year and contributing -3.5 percentage... 

Rough diamonds mined in South Africa

Kropz secures R285m bridge loan from ARC

By: Creamer Media Reporter      14th March 2023 Emerging African phosphate producer and developer Kropz's Elandsfontein subsidiary, in South Africa, has secured R285-million in bridge loan facilities from the African Rainbow Capital (ARC) Fund to meet the immediate and additional near-term funding requirements as it progresses commercial... 

The Elandsfontein plant
The Elandsfontein plant

Sierra Rutile raises red flag

By: Esmarie Iannucci     14th March 2023 ASX-listed Sierra Rutile has raised concerns regarding a dispute with Chinese company Transcend International Resources. Sierra Rutile’s operating subsidiary Sierra Rutile Limited (SRL), has been involved in legal proceedings in Sierra Leone with Transcend, under which Transcend alleged that SRL... 

Zimbabwe’s ban on lithium ore exports triggers stockpile buildup

By: Bloomberg     14th March 2023 Zimbabwe’s ban on lithium ore exports has resulted in stockpiles of the key battery metal building up in the southern African country. The ban – introduced by the government last December in a bid to encourage local processing of the metal – has resulted in two-million tons of ore being... 

The Arcadia lithium mine in Zimbabwe
Photo by Bloomberg
The Arcadia lithium mine in Zimbabwe

Work set to resume at Simandou iron ore after Guinea, shareholders agree terms

By: Reuters     14th March 2023 Guinean authorities and shareholders have agreed on the terms of a joint venture to mine Simandou, one of the world's largest deposits of iron-ore, paving the way for work to resume this month, the presidency said on Monday. Guinea's transitional government ordered work to stop last July to try... 

Madison Metals using NFTs to open up new uranium trading opportunities

By: Darren Parker     13th March 2023 Canadian uranium explorer and miner Madison Metals has launched what CEO Duane Parnham believes is the first ever uranium-backed nonfungible token (NFT). NFTs are digital assets defined by unique digital identifiers that are recorded in a blockchain. The company hopes it can get retail buyers to... 

IPP Office, Eskom in talks about navigating grid constraints ahead of next renewables round

By: Rebecca Campbell     13th March 2023 There were two main challenges South Africa faced, in addressing its inadequate electricity generation capacity, Independent Power Producers (IPP) Office Head Bernard Magoro highlighted at the RES4Africa conference in Cape Town, on Monday. They were the fast-tracking of approvals by government,... 

IPP Office head Bernard Magoro
IPP Office head Bernard Magoro

Re-pursue exploration to help re-build South Africa’s economy, says business booster  

By: Martin Creamer     13th March 2023 Let us re-pursue the exploration investment that catalysed South Africa’s economic growth more than a century ago as a means of helping to rebuild South Africa’s struggling economy. That is among the ardent messages put over by mining sector performance enhancer Dilley Naidoo, the the director of... 

Dilley Naidoo, Director of Business Development, Rifle-Shot Performance.
Rifle-Shot Performance's Dilley Naidoo interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Ivanhoe posts record profit of $434m for 2022

By: Marleny Arnoldi     13th March 2023 TSX-listed Ivanhoe Mines has reported a record profit of $434-million for 2022, for 323 733 t of copper sold. This compares with a profit of $45-million reported for 2021.  

Diamcor recovers 45.15 ct diamond as it continues to progress power solutions

By: Tasneem Bulbulia     13th March 2023 Junior diamond mining company Diamcor Mining has recovered a 45.15 ct gem-quality rough diamond from the processing of quarry material at its Krone-Endora at Venetia project in South Africa. This large rough diamond in the Specials category (weighing more than 10.8 ct) follows the previously... 

Tsodilo to argue legal case against Botswana Ministry on April 18

By: Marleny Arnoldi     13th March 2023 International diamond and metals exploration company Tsodilo Resources has advised that its litigation against the Botswana government is progressing well, having filed its latest documents in court on March 10, and with the court date set for April 18. The matter relates to a delayed... 

Kavango relogging some Ditau drill holes to confirm new deposit model

By: Marleny Arnoldi     13th March 2023 London-listed Kavango Resources has completed a relogging of drill hole DITDD004 at the Ditau project, in Botswana. The company relogged the hole upon recommendation of Dr Hamid Mumin, who has proposed a possible banded iron formation- (BIF-) hosted lode gold system at the project.  

Progress being made in reforming South African electricity sector, assures Presidency official

By: Rebecca Campbell     13th March 2023 Major changes were indeed under way in the country’s electricity sector, South African Presidency project management head Rudi Dicks assured the RES4Africa Energy Security Conference in Cape Town, on Monday. “There is a risk that we miss the [reform] wood for the [crisis] trees,” he said. South... 

A photo of solar panels

Pan African maximises rand gold price to secure full funding for Mintails project 

By: Martin Creamer     13th March 2023 Funding for the R2.5-billion construction of the Mintails tailings project has been completed, with Pan African Resources managing to capitalise on the current attractive rand gold price to secure the final component of the full funding package without any dilution to its shareholders. “We’re... 

Mintails' North Sand gold dump.
Mintails' North Sand gold dump.

China could control a third of the world's lithium by 2025

By: Bloomberg     13th March 2023 China’s efforts to ramp up lithium extraction could see it accounting for nearly a third of the world’s supply by the middle of the decade, according to UBS. The bank expects Chinese-controlled mines, including projects in Africa, to raise output to 705 000 t by 2025, from 194 000 t in 2022.... 

MC Mining appoints new nonexecutive directors

By: Darren Parker     10th March 2023 JSE-listed coal exploration, development and mining company MC Mining has announced the appointment of Yi Christine He as nonexecutive director. She has a bachelor’s degree in English literature from Sichuan University and more than 20 years’ experience at senior management level. Her broad... 

We stand ready to support renewable energy, says Standard Bank 

By: Martin Creamer     10th March 2023 Standard Bank says it is at the ready to support renewable energy and infrastructure projects. The bank, which this week delivered record 37%-higher headline 2022 earnings of R34.2-billion and paid the highest dividend in its 161-year history, expresses the view that meaningful structural reform... 

CEO Sim Tshabalala.
CEO Sim Tshabalala.

W Cape appoints former Eskom exec to tackle energy issues in the province

By: Sane Dhlamini     10th March 2023 Western Cape Premier Alan Winde said following his last meeting with Andre de Ruyter, where the former Eskom CEO painted a bleak picture of South Africa’s energy situation, the province has roped in former Eskom executive Alwie Lester to help tackle the crisis. In an exclusive interview with... 

Western Cape Premier Alan Winde
Western Cape Premier Alan Winde

Weak tin supply growth forecast for the rest of the year

By: Darren Parker     10th March 2023 Tin mine supply will continue to grow this year, albeit very weakly, according to a global tin mining outlook report issued by research organisation Fitch Solutions Country Risk & Industry Research on March 9. “Despite the fall in prices compared with the highs reached after the Russian invasion... 

tin being processed

Power Metal's planned IPOs delayed

By: Darren Parker     10th March 2023 Metals mining company Power Metal announced on March 10 that its planned initial public offerings (IPOs) are taking longer than expected. In a strategic update, the company cited extensive preparatory work in the pre-IPO process, the need to complete work in all vehicles to enable immediate and... 

Botswana intent on selling more diamonds without De Beers

By: Reuters     10th March 2023 Botswana will not drop its demand to sell a bigger share of the diamonds produced by its joint venture with De Beers, President Mokgweetsi Masisi said on Thursday, raising the stakes in talks to renew a sales deal that expires in June. Botswana and De Beers mine diamonds under an equally-owned... 

Botswana President Mokgweetsi Masisi
Botswana President Mokgweetsi Masisi

Altona raises £2m, to list on LSE

By: Tasneem Bulbulia     10th March 2023 Mining exploration company Altona Rare Earths has raised £2-million through an oversubscribed placing of £1.72-million and a subscription of £279 200 through the issue of 40-million new ordinary shares.  The company announced on February 2 that it was seeking to raise £1.25-million in new capital. 

Ammonia leak contained at Sasolburg

By: News24Wire      10th March 2023 An ammonia leak at Sasol's operations in the early hours of Friday morning has been contained, the synthetic fuel and chemicals giant has said. According to a Sasol spokesperson, a "strong ammonia smell" was detected at Sasol’s Bunsen Site in Sasolburg at approximately 02:45 on Friday morning. 

Parliament guns for Mosebenzi Zwane over his corrupt Gupta dealings after five-year probe

By: News24Wire      10th March 2023 Six years ago, former mineral resources minister Mosebenzi Zwane was a high-flyer in erstwhile president Jacob Zuma's inner circle and a chief lieutenant of the infamous Gupta family. These days, Zwane finds himself out in the cold and in the political wilderness, with Parliament breathing down... 

B4SA launches independent fund for corporates to support Energy Action Plan

By: Marleny Arnoldi     10th March 2023 Business body Business for South Africa (B4SA), together with the Presidency, on March 9 announced the establishment of a Resource Mobilisation Fund (RMF) to help capacitate the National Energy Crisis Committee (Necom). Necom aims to reduce the severity and frequency of loadshedding in the short... 

B4SA chairperson Martin Kingston
Photo by Creamer Media
B4SA chairperson Martin Kingston

EVs, platinum deficit and SA's opportunities make headlines   

10th March 2023 This week, Mining Weekly Editor Martin Creamer discusses the prediction that the total cost of ownership of platinum-based hydrogen fuel cell electric vehicles will be unrivaled by 2023; he notes that the World Platinum Investment Council is forecasting a material deficit in the platinum market... 

Photo of Martin Creamer
EVs, platinum deficit and SA's opportunities make headlines

MRC runs for longer at Tormin

By: Esmarie Iannucci     10th March 2023 ASX-listed Mineral Commodities (MRC) has announced a step change at its Tormin mineral sands project, in South Africa, with the transition to 24-hours of operations to process Inland Strands ore. The company said on Friday that the 24-hour operations were required to meet the Inland Strands... 

Atlantic and Piedmont dispute corruption claims in Ghana

By: Esmarie Iannucci     10th March 2023 PERTH ( – Lithium developer Piedmont Lithium on Friday said that, along with its partner Atlantic Lithium, the company was seeking legal advice to address claims made by Blue Orca Capital this week. In a short report, Blue Orca accused Atlantic of corruption, claiming that... 

Image shows lithium ore stockpiles

How battery storage can help SA navigate its grid and loadshedding challenges

By: Sabrina Jardim     10th March 2023 Amid the current energy crisis, declared to be a state of disaster during last month’s State of the Nation Address by President Cyril Ramaphosa, battery energy storage systems (BESS) could potentially provide some near-term relief in areas of grid constraint, while also allowing households some... 

Magazine cover image

Job losses at Beatrix 4 shaft, Kloof 1 plant minimised, Sibanye-Stillwater reports

By: Martin Creamer     9th March 2023 Precious and green metals mining company Sibanye-Stillwater said on Thursday that it had completed consultations to minimise job losses in restructuring its South Africa gold operations. The consultation took place under Section 189A (S189) of the Labour Relations Act, 66 of 1995, amid ongoing... 

Sibanye-Stillwater CEO Neal Froneman.
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman.

Another just energy transition drive hits high spots in form of Just Green AfrH2ica 

By: Martin Creamer     9th March 2023 Yet another just energy transition initiative has come flying out of its starting blocks in the form of Just Green AfrH2ica, the promoter of the just energy transition to green hydrogen in Africa, the continent with the distinctive potential to benefit exponentially from low-cost renewable energy... 

Another just energy transition initiative has come flying out of its starting blocks in the form of Just Green AfrH2ica.
Another just energy transition initiative has come flying out of its starting blocks in the form of Just Green AfrH2ica.

Firering increases stake in Côte d'Ivoire project

By: Tasneem Bulbulia     9th March 2023 Aim-listed Firering Strategic Minerals has increased its stake in its flagship Atex lithium/tantalum project, in Côte d'Ivoire, to 90%. Pursuant to an existing option shares agreement between Firering and Atex dated March 31, 2021, Firering has acquired a further 13% of the issued share capital... 

Orion notes continuing progress at Northern Cape projects

By: Tasneem Bulbulia     9th March 2023 Exploration and development company Orion Minerals continued to progress its strategy of building a high-quality pipeline of future facing base metals development and exploration assets to supply the demands created by a global clean energy transition, the company notes in its interim financial... 

DMCC hosts world’s first lab-grown diamonds symposium

By: Marleny Arnoldi     9th March 2023 The United Arab Emirates’ (UAE’s) largest free-trade zone, Dubai Multi Commodities Centre (DMCC), has announced it will host an inaugural Lab-Grown Diamond Symposium, in Dubai, on July 10. The symposium is a world-first opportunity to discuss this nascent, technology-driven industry’s unique... 

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