R/€ = 18.0975 Change: -0.0348
R/$ = 17.1535 Change: -0.0241
Au 1789.20 $/oz Change: -0.36
Pt 1009.76 $/oz Change: 0.30

Africa News

West Kenya drilling results indicate considerable potential resource increase

By: Tasneem Bulbulia     28th November 2022 Drilling results from three targets forming part of the Ramula Camp at the West Kenya project, in Kenya, confirm Aim-listed Shanta Gold’s long-held belief that the project has the potential to become one of Africa’s next quality, high-grade gold mines, CEO Eric Zurrin says. “The team has... 

Bushveld Energy enters reverse takeover deal through the sale of VRFB-H

By: Marleny Arnoldi     28th November 2022 Aim-listed Bushveld Minerals’ 84%-owned subsidiary Bushveld Energy has entered into a conditional agreement to sell its entire 50.5% interest in Vanadium Redox Flow Batteries Holdings (VRFB-H) to special purpose acquisition company Mustang Energy. VRFB-H’s main asset is a 50% interest in Enerox... 

Resolute receives final payment for Bibiani mine sale

By: Tasneem Bulbulia     28th November 2022 Dual-listed Resolute Mining has received the third and final tranche of $10-million from Canadian miner Asante Gold for the sale of the Bibiani gold mine, in Ghana. The two companies are in commercial discussions regarding payment of the environmental bond and interest. 

Aterian lists Tata among higher-priority projects after initial copper finds

By: Marleny Arnoldi     28th November 2022 London-listed exploration company Aterian has discovered strong sediment-hosted copper mineralisation at its recently acquired Tata project, in Morocco. The company’s acquisition of Aterian Resources included a portfolio of 15 copper, silver and base metal projects in Morocco.  

Nersa calls for comments on gas, renewable energy and hydrogen partnership strategy

By: Tasneem Bulbulia     28th November 2022 The National Energy Regulator of South Africa (Nersa) has invited stakeholders to provide written comments on the issues raised in the consultation document concerning the development of the strategy for a gas, renewable energy and hydrogen partnership in South Africa. The consultation document... 

Iamgold reports fatality in Burkina Faso

By: Creamer Media Reporter      28th November 2022 Canadian mining company Iamgold has reported the death of an employee, who passed away last week Tuesday as a result of injuries sustained in an off-site accident in Burkina Faso. The accident occurred when Iamgold team members were assisting with the hoisting of mobile equipment. 

Transnet auction fails to attract private sector

By: News24Wire      28th November 2022 On Friday, Transnet Freight Rail (TFR) announced that only two companies had participated in its much-anticipated auction of slots to private players, the company's first foray into allowing private participation on the rail network.  The only bid made for the Cape Corridor's Kroonstad to East... 

A photo of railway tracks

Burkina Faso's vanishing gold boom puts livelihoods at risk

By: Reuters     28th November 2022 A gold mining boom in Burkina Faso over the last decade propelled Boukary Diallo from being a vendor on a market stall to running a meat business supplying a mine near Ouahigouya, his home town in the north of the country. But as the West African country loses territory to Islamist militants and... 

Copper mining grows at last but now smelters can't keep up

By: Bloomberg     28th November 2022 Copper miners are boosting output at last after several years of anemic performance. But it may not be enough to meaningfully lift stockpiles from historically low levels, keeping supplies tight in a market critical to the energy transition. The reason is a bottleneck in capacity at the world’s... 

South Africa’s mining market is dynamic and fast-moving, Siemens Large Drives finds  

By: Martin Creamer     25th November 2022 South Africa is a super dynamic and super fast-moving market, says Siemens Large Drives global solutions head Oliver Beck, who has just completed a week of discussions with customers to highlight sustainability solutions for mining. From his perspective, South African mining economy is at the... 

Siemens Large Drives global solutions head Oliver Beck.
Siemens Large Drives' Oliver Beck, Tim Walwyn talk to Mining Weekly's Martin Creamer. Video: Nicholas Boyd, Shadwyn Dickinson. Video Editing: Darlene Creamer. Pictures: Donna Slater.

Namibia plans railway revamp to boost regional coal exports

By: Reuters     25th November 2022 Namibia's state-owned railway company TransNamib plans to shift coal exports from Botswana off the road and onto rail by early next year, potentially doubling exports via Walvis Bay port, its CEO said. Land-locked Botswana has sought alternative routes to export its coal as disruption to South... 

Ghana orders mining firms to sell 20% of refined gold to its central bank

By: Reuters     25th November 2022 Ghana has ordered all large-scale mining companies to sell 20% of their entire stock of refined gold at their refineries to the Bank of Ghana from Jan. 1, 2023, Vice-President Mahamudu Bawumia said on Facebook on Friday. The move is part of measures to operationalize a government plan to use gold... 

TFR concludes ten-day maintenance programme on Sishen-Saldanha line

By: Marleny Arnoldi     25th November 2022 Rail operator Transnet Freight Rail (TFR) has successfully completed a ten-day maintenance plan on its Sishen-Saldanha iron-ore corridor. The maintenance involved electrical, perway and technical support works from November 8 to 17, where the main deliverable was to restore the rail network to... 

Kenmare lowers guidance on the back of power challenges

By: Tasneem Bulbulia     25th November 2022 London-listed Kenmare Resources, which operates the Moma titanium minerals mine, in northern Mozambique, has lowered its 2022 full-year guidance. “Production of ilmenite, our primary product, was strong in October and we maintained the 1.2-million-tonne-a-year run rate we achieved in quarter... 

Sandvik wins large mining equipment order in the DRC

By: Tasneem Bulbulia     25th November 2022 High-tech and global engineering group Sandvik has received a large mining equipment order from Chinese global mining services provider JCHX Mining Management for use at the Kamoa-Kakula copper and the Kamoya copper and cobalt mines, in the Democratic Republic of the Congo. The order is valued at... 

Marula’s Blesberg to deliver first shipment of lithium RoM in December

By: Darren Parker     25th November 2022 AQSE-listed mining and development company Marula Mining has made significant progress towards the delivery of the first shipment of high-grade run-of-mine (RoM) lithium ore at its Blesberg lithium and tantalum mine in the Northern Cape. The first shipment, which is expected in December, falls... 

Tantalex’s TiTan project under way

By: Tasneem Bulbulia     25th November 2022 Having recently received the mining licence for the TiTan tin and tantalum project, in the Democratic Republic of Congo (DRC), Tantalex Lithium Resources is now setting up the concentration plant and is aiming for the production of its first concentrate in March 2023. For Tantalex, this means... 

De Beers sponsors newly launched jewellery showcase at Montecasino

By: Marleny Arnoldi     25th November 2022 Diamond miner De Beers has partnered with the Jewellery Council of South Africa to serve as the main headline sponsor of this year’s ShopJewellex, a newly launched retail-consumer jewellery showcase to be held at Montecasino over the Black Friday weekend. ShopJewellex will showcase the latest... 

TFR opens up coal line again

By: Marleny Arnoldi     25th November 2022 State-owned rail operator Transnet Freight Rail (TFR) has lifted the force majeure it imposed on the export coal line on November 8. The closure of the line followed the derailment of a fully-laden coal train, which occurred between the Bloubank and Nhlazatshe stations, causing extensive damage... 

Bankers pour cold water on red hot coal

By: Reuters     25th November 2022  It's the best of times, it's the worst of times. At least when it comes to mining coal. After years of decline, demand for the polluting fossil fuel has surged this year as Europe scrambles to replace Russian gas, and coal miners are making money hand over fist. With coal prices hitting record... 

Buffalo Coal backtracks on convertibility into shares of Belvedere’s loan

By: Marleny Arnoldi     25th November 2022 TSX-V- and JSE-listed Buffalo Coal has advised that the convertible loan facility it has in place with Belvedere Resources has been amended to remove the right of Belvedere, as lender, to convert amounts owing thereunder into shares in the capital of Buffalo. There is currently $27-million... 

Higher costs for Tumas and a new plan for Mulga Rock - Deep Yellow

By: Esmarie Iannucci     25th November 2022 Uranium hopeful Deep Yellow has flagged a cost-blow out at its Tumas project, in Namibia, where a definitive feasibility study (DFS) is currently under internal review. The company told shareholders on Friday that the DFS, which had been completed, had indicated that the project remained... 

Crime, platinum demand, R1bn fuel cell factory make headlines   

25th November 2022 Mining Weekly Editor Martin Creamer discusses the country’s economic/crime paradox that was highlighted at a recent Anglo American meeting; new green hydrogen end-demand pushing platinum into a meaningful deficit; and the development of the R1-billion fuel cell factory which could break ground... 

Photo of Martin Creamer
Crime, platinum demand, R1bn fuel cell factory make headlines

Codelco head warns of potential for large global copper deficit in a decade

By: Reuters     24th November 2022 The global copper market could accumulate a large deficit of almost eight million tonnes in a decade as soaring demand will outweigh new projects, the head of Chile's state-owned Codelco, the world's largest producer of the metal, said on Thursday. During a speech at Asia Copper Week in... 

An image of Codelco's chairperson
Codelco chairperson Maximo Pacheco

Loadshedding to be downgraded thanks to diesel from PetroSA

By: News24Wire      24th November 2022 Thanks to diesel supplied by PetroSA, Eskom will be able to reduce load shedding to Stage 3 from Stage 4 during the night, Eskom said. This is expected to last until Monday morning.  The lifeline from PetroSA was supplied after Eskom recently ran out of funds to pay for diesel, which it uses to... 

A photo of Eskom's head office

New govt report calls for ‘solid timeframes’ for updating of IRP2019 

By: Terence Creamer     24th November 2022 A new report into the progress government is making in implementing the current five-year Medium-Term Strategic Framework, from 2019 to 2024, has confirmed that energy unavailability represents the single biggest risk to doing business in South Africa, by undermining investor confidence and... 

Minister in the Presidency Mondli Gungubele
Minister in the Presidency Mondli Gungubele

Platinum’s hydrogen economy role is just transition enabler, Mapungubwe highlights 

By: Martin Creamer     24th November 2022 The strategic role of platinum group metals (PGMs) in the creation of a hydrogen economy is the key supporting element of the Just Energy Transition Investment Plan (JET-IP) unveiled by President Cyril Ramaphosa at the 2022 United Nations Climate Change Conference, Mapungubwe Institute for... 

Mapungubwe Institute for Strategic Reflection researcher Dr Nqobile Xaba.
Mapungubwe Institute for Strategic Reflection researcher Dr Nqobile Xaba.

Higher copper treatment charges needed to ensure copper supply – smelters

By: Reuters     24th November 2022 Smelter executives on Thursday called on miners to pay higher treatment and refining charges (TC/RCs) to incentivise them to expand capacity and ensure long-term copper supply to the market. Copper demand from the renewable energy and electric vehicles sectors is expected to rise sharply amid the... 

Higher copper treatment charges needed to ensure copper supply – smelters

UK, South Africa to establish Partnership on Minerals for Future Clean Energy Technologies

By: Schalk Burger     24th November 2022 UK Foreign Secretary James Cleverly announced this week that the UK and South Africa were establishing a new Partnership on Minerals for Future Clean Energy Technologies to promote increased responsible exploration, production and processing of minerals in South Africa and Southern Africa.... 

OreCorp working on Nyanzaga financing

By: Esmarie Iannucci     24th November 2022 Gold developer OreCorp has received indicative debt funding proposals for the development and construction of its Nyanzaga gold project, in Tanzania. The ASX-listed company on Thursday said that discussions with major European, African and Tanzanian banks have delivered non-binding expressions... 

Thungela to gain full ownership of Zibulo colliery and the Elders project

By: Chanel de Bruyn     24th November 2022 South African thermal coal exporter Thungela Resources has reached an agreement with its black economic empowerment partner Inyosi Coal to acquire the 27% interest in Anglo American Inyosi Coal (AAIC) currently owned by Inyosi in exchange for shares in Thungela. Upon completion of the... 

Thungela CEO July Ndlovu
Thungela CEO July Ndlovu

Tanzanians sue Barrick Gold in Canada over alleged mine shootings by police

By: Reuters     24th November 2022 A group of 21 Tanzanian nationals on Wednesday filed a lawsuit in Canada alleging the world's second-biggest gold miner, Barrick Gold, was complicit in extrajudicial killings by police guarding its North Mara mine. The plaintiffs in the claim, filed at the Superior Court of Justice in Ontario,... 

Galileo completes resource delineation drilling at Zambia project

By: Tasneem Bulbulia     23rd November 2022 Aim-listed Galileo Resources has completed a drilling programme at the Luansobe copper project, in Zambia, marking an important step towards the generation of a new mineral resource estimate for the project. Assay results for the first 15 of 28 holes drilled have been received, with 28 vertical... 

AI can help mining companies keep up with modern demands

By: Darren Parker     23rd November 2022 As legacy technologies fail to keep up with the growing demand for advanced mining activities for increased outputs and greater profits, management consulting company GlobalData believes artificial intelligence (AI) can help.  The company says AI can make mining companies more productive and... 

Another coal truck driver arrested at Camden power station

By: Darren Parker     23rd November 2022 State-owned Eskom has reported that another coal delivery truck driver has been arrested at the Camden power station, in Mpumalanga, after he was found in possession of subgrade coal destined for use by the power utility.   The truck belongs to a transporter that is contracted to deliver coal to... 

coal truck on road with power station in background

South Africa’s crime crisis ruling out economic growth, sustainability discussion hears 

By: Martin Creamer     23rd November 2022 South Africa’s economic paradox is that it cannot grow economically if it has a burgeoning crime crisis but it is unable to solve the burgeoning crime crisis if it is not growing. That was the opening comment of outgoing Mineral Council South Africa CEO Roger Baxter, who anchored the second of... 

Roger Baxter.
Roger Baxter.

Eskom diesel plan will be announced in the coming days, says Gordhan 

By: News24Wire      23rd November 2022 A plan to deal with Eskom's diesel crisis will be announced in the coming days, Public Enterprises Minister Pravin Gordhan told Parliament on Wednesday. Eskom said last week that it had overspent its budget for diesel and had no more cash to buy new stocks until 1 April. Diesel is used to run... 

Public Enterprises Minister Pravin Gordhan
Photo by Bloomberg
Public Enterprises Minister Pravin Gordhan

ZIOC proposes acquiring Glencore’s shareholding in Zanaga

By: Tasneem Bulbulia     23rd November 2022 Aim-listed Zanaga Iron Ore Company (ZIOC) has reached an agreement with Glencore subsidiary, Glencore Projects, for the acquisition of its controlling shareholding in the Zanaga iron-ore project, in Congo-Brazzaville. This is through the purchase of Glencore Projects’ 50% plus one share interest... 

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