R/€ = 19.9467 Change: -0.0138
R/$ = 18.5198 Change: -0.0151
Au 1940.50 $/oz Change: -0.01
Pt 970.00 $/oz Change: -14.11

Africa News

Harmony CEO hails strong performance of South African mines despite loadshedding  

By: Martin Creamer     1st March 2023 The South African operations of Harmony Gold did very, very well in the six months to the end of December last year load curtailment notwithstanding, Harmony Gold CEO Peter Steenkamp said during a media call on Wednesday. “There are many mines that performed above expectation,” Steenkamp said in... 

Harmony Gold’s net profit soars 36%, 30 MW solar by mid-year

By: Martin Creamer     1st March 2023 The Harmony Gold strategy of allocating growth capital towards high-margin, long-life assets has started to deliver the desired results. Good recovered underground grades along with the strong rand-per-kilogram gold price have provided Harmony with tailwinds. 

Harmony CEO Peter Steenkamp.
Harmony CEO Peter Steenkamp.

Resources Watch  

1st March 2023 This week: De Beers delivers excellent set of 2022 results; Anglo has 600 MW keyed up ready to go, green hydrogen also developing rapidly; And, do everything to fight inflation, says AngloGold, which is growing fastest in US  

Resources Watch
Resources Watch

Mali forecasts 3.5% decline in industrial gold output in 2023

By: Reuters     1st March 2023 Mali expects industrial gold output to fall by about 3.5% to 63.9 tonnes in 2023 from 66.2 tonnes the previous year, the mines ministry said on Tuesday. Mali is one of Africa's top gold producers and home to industrial mines operated by companies including Barrick Gold, B2Gold Corp, Resolute... 

Glencore ordered to pay $700m by US judge in bribery case

By: Bloomberg     1st March 2023 Glencore was ordered by a federal judge in New York to pay $700-million as a criminal punishment for a global bribery scheme orchestrated by the Swiss-based commodities trading and mining giant. US District Judge Lorna G. Schofield on Tuesday imposed the sentence under terms of a plea deal with... 

BlueRock subsidiary Kareevlei enters into voluntary business rescue

By: Marleny Arnoldi     28th February 2023 The board of Aim-listed BlueRock Diamonds’ principal operating subsidiary, Kareevlei Mining, has resolved to place the company into voluntary business rescue owing to excessive indebtedness. BlueRock had already requested on February 24 that its shares be suspended from trading on the Aim,... 

DRA secured new contracts, rebased the business in 2022

By: Donna Slater     28th February 2023 Deals worth A$638-million were awarded to multidisciplinary engineering, project management and operations management group DRA Global in 2022, as the group sought to strengthen its relationships with longstanding clients and broadened its geographic footprint. "Financial year 2022 saw the... 

The Two Rivers platinum mine
The Two Rivers platinum mine

Nel's revenue rises as large-scale electrolyser contracts roll in

By: Darren Parker     28th February 2023 Norwegian hydrogen solutions company Nel ASA has reported revenue of NKr414-million for the fourth quarter of 2022, up from NKr248-million in the same quarter of 2021. The increase in revenue was driven by a NKr600-million contract for the delivery of electrolysers to Australian energy company... 

Nel helped to develop a hydrogen-powered mine haul truck for Anglo American Platinum.
Photo by Creamer Media's Donna Slater
Nel helped to develop a hydrogen-powered mine haul truck for Anglo American Platinum.

Junior miner allocations won't impact existing manganese slots – TFR

By: Donna Slater     28th February 2023 State-owned rail operator Transnet Freight Rail (TFR) says its opening of rail capacity allocations to junior miners will not impact existing guaranteed manganese miner export allocations. As part of what it says is an expansion of rail capacity allocation and efforts to create a more inclusive... 

A train transporting manganese to port

Collaboration has ensured an improved record for tailings facility safety, panel finds  

By: Marleny Arnoldi     28th February 2023 With the volume of tailings deposits globally increasing at a faster rate than it did in the last century, it has become prudent for mining companies to ensure minimal risks to surrounding environments and communities, including through constant collaborative innovation and meaningful community... 

Bongani Butheleze, Tabatha Chaves Matus, Jaco Schoeman and Luis Torres-Cruz
Collaboration has ensured an improved record for tailings facility safety, panel finds

Sibanye-Stillwater records third-best earnings as it celebrates tenth anniversary  

By: Martin Creamer     28th February 2023 This month ten years ago, Sibanye Gold Limited was unbundled by Gold Fields Limited and listed on the JSE and the NYSE as an independent company with three deep-level South African gold mines and a market capitalisation of R10-billion. Today, the group, headed by CEO Neal Froneman, is intent on... 

Sibanye-Stillwater ten years on.
Sibanye-Stillwater's half-year results presentation covered by Mining Weekly's Martin Creamer. Video editing: Darlene Creamer.

Zambia's Mopani halts mine shaft operations after worker dies

By: Reuters     28th February 2023 Zambia's Mopani Copper Mines has suspended operations at one of its shafts in Kitwe, more than 350 km north of the capital Lusaka, following an accident which led to a worker dying, it said on Tuesday. "The incident happened at (the) 3 360 feet level as a team of contractor employees were... 

Higher commodity prices failing to spur fixed mining investment  

By: Martin Creamer     28th February 2023 The regulatory uncertainties and inability of the industry to transparently, quickly and efficiently apply for mining and prospecting rights in a corruption-free manner has had severe investment consequences, Minerals Council South Africa states in its Facts & Figures Pocketbook 2022. This is... 

South African mining remained a trillion rand industry for the second year in 2022.
South African mining remained a trillion rand industry for the second year in 2022.

Gold set for biggest drop in 20 months on rate hike worries

By: Reuters     28th February 2023 Gold prices slipped to a two-month low on Tuesday and were on track for their biggest monthly decline since June 2021 pressured by a stronger dollar and prospects of more rate hikes from the US Federal Reserve. Spot gold was down 0.3% at $1 812.20 by 0918 GMT, having earlier hit its lowest since... 

State of disaster regulations open way for emergency procurement, environmental exemptions  

By: Terence Creamer     28th February 2023 More than two weeks after President Cyril Ramaphosa announced that the electricity crisis had been declared a National State of Disaster, the regulations giving effect to that declaration have been Gazetted. In a statement issued on February 28, it was confirmed that the regulations were approved... 

Eskom power lines

Ivanhoe completes debottlenecking ahead of schedule at DRC project

By: Tasneem Bulbulia     28th February 2023 Canada-headquartered Ivanhoe Mines announced at the thirty-second BMO Global Metals & Mining Conference that the debottlenecking of the Kamoa-Kakula Copper Complex’s Phase 1 and 2 concentrators, in the Democratic Republic of Congo (DRC), has been completed ahead of schedule. The ongoing final... 

Walkabout secures civil deal in Tanzania

By: Esmarie Iannucci     28th February 2023 ASX-listed Walkabout Resources has reached an agreement with earthmoving and civils contractor TNR that would allow for the completion of the earthworks and civils portion of the Lindi Jumbo graphite mine, in Tanzania. TNR has agreed to defer $1.4-million in payments for work to be completed at... 

Lucapa posts record revenues

By: Esmarie Iannucci     28th February 2023 Diamond miner Lucapa Diamond Company has reported record revenues for the full year ended December, on the back of a record operational performance at its Lulo alluvial mine, in Angola. Attributable revenue for the full year ended December reached A$69.1-million, with attributable earnings... 

Quest for world’s biggest diamonds gives De Beers a headache

By: Bloomberg     28th February 2023 To the southeast of the teeming herds of wildlife in the Okavango Delta in Botswana, an offshoot of the Lundin mining dynasty is extending its search for the world’s biggest diamonds. Lucara Diamond Corp is sinking an 800 m shaft to ensure the kimberlite orebodies at its Karowe mine keep... 

Lucara is sinking an 800 m shaft at its Karowe mine in Botswana
Photo by Bloomberg
Lucara is sinking an 800 m shaft at its Karowe mine in Botswana

Record revenue at Sandfire

By: Esmarie Iannucci     28th February 2023 Metals miner Sandfire Resources has reported record sales revenue for the half-year ended December, on the back of production and sales contributions from the MATSA operation, in Spain. Sales revenue for the six months to December reached $431.7-million, up from the $311.8-million reported in... 

A $1.5bn hoard of copper and cobalt is piling up in Congo

By: Bloomberg     27th February 2023 A growing pile of copper and cobalt worth about $1.5-billion is stranded in the Democratic Republic of Congo, caught up in a standoff over the future of one of the world’s biggest battery-metal mines. The huge stash of metal is owned by China’s CMOC Group, which is locked in a dispute with its... 

Locally made, fully automated rock bolter launched for the mining industry 

By: Schalk Burger     27th February 2023 A new fully automatic bolter has been launched by mining services company Buraaq into the South African mining industry for use in underground and opencast operations. The Buraaq SD212i bolter is locally designed and built, with its core design focusing on improving the safety of the operator and... 

Paladin continues to progress restart efforts at Langer Heinrich

By: Tasneem Bulbulia     27th February 2023 ASX-listed Paladin Energy says in its statement for the six month ended December 31, 2022, that since the decision was made in July 2022 to restart the Langer Heinrich mine (LHM) in Namibia and reach commercial production in calendar 2024, the restart project continues. This continues with a... 

BBE provides large-scale refrigeration station for Northam

By: Darren Parker     27th February 2023 Mine ventilation, refrigeration and cooling systems company BBE Projects is busy with a turnkey design and construction project for a refrigeration plant and fan station at platinum group metals (PGMs) miner Northam Platinum’s Zondereinde No 3 Shaft project.  The Zondereinde No 3 Shaft project,... 

Zimplats records solid year

By: Tasneem Bulbulia     27th February 2023 Zimplats, a member of the Impala Platinum (Implats) group, has declared a final dividend of $120-million for the year ended June 30, 2022, which was paid on September 8, it says in its directors’ report and condensed consolidated interim financial statements for the half year ended December 31,... 

Hive Energy announces Chile green hydrogen project, to parallel its South African one

By: Rebecca Campbell     27th February 2023 UK-based green energy company Hive Energy (Hive), which has a major green hydrogen and green ammonia project pipeline in South Africa, has announced that it has entered a joint venture (JV) with the Transitional Energy Group (TEG), to develop the $8-billion Gente Grande green ammonia project in... 

Kropz makes fourth drawdown on equity facility

By: Tasneem Bulbulia     27th February 2023 Aim-listed Kropz has made its fourth drawdown request under the new R550-million convertible equity facility from its largest shareholder, African Rainbow Capital (ARC) Fund, as announced in November last year. The fourth drawdown is for R40-million, and R7.5-million remains available for... 

Trackless mobile machine safety next big challenge, says Minerals Council  

By: Martin Creamer     27th February 2023 Having last year achieved the lowest fall of ground fatalities ever, South African mining’s next big safety challenge is to achieve greater safety in the use of trackless mobile machines – rubber-tired vehicles that operate in underground mines without making use of rail tracks. In 2021, South... 

From left to right, Nikisi Lesufi, Japie Fullard, Roger Baxter and Allan Seccombe.
From left to right, Nikisi Lesufi, Japie Fullard, Roger Baxter and Allan Seccombe.

Mako, Geodrill sign drill-for-equity agreement

By: Creamer Media Reporter      27th February 2023 ASX-listed Mako Gold has entered into a binding memorandum of understand (MoU) with TSX-listed Geodrill, which will undertake drilling services at Mako's gold projects, in Côte d’Ivoire. Under the terms of the MoU, Geodrill may subscribe for up to $1-million worth of shares in the capital of Mako... 

Russians probed over gold in Sudan as West vies for influence

By: Bloomberg     27th February 2023 Dozens of Russians working for a mining company in Sudan are being probed by authorities on suspicion of gold-smuggling, in a potential setback for Moscow’s ambitions in the resource-rich North African state. Sudanese prosecutors arrested one and summoned many more Russian employees for... 

Oriole announces further high-grade gold results in Cameroon

By: Darren Parker     27th February 2023 Aim-listed exploration company Oriole Resources West Africa has further confirmed high-grade gold findings at its 90%-owned Central Licence Package (CLP) project, in Cameroon.   The district-scale CLP project comprises nine contiguous licenses covering 4 091 km2 of previously unexplored... 

BME to launch Canada facilities in Nairn Centre

By: Creamer Media Reporter      27th February 2023 In a significant step in its international growth journey, BME Mining Canada will later this year officially launch its greenfield production and service facilities in Nairn Centre, Ontario. Developed in conjunction with its joint venture partner Consbec, the facility underpins BME Mining... 

BME to launch Canada facilities in Nairn Centre

Sierra Rutile sees increased earnings

By: Esmarie Iannucci     27th February 2023 ASX-listed Sierra Rutile Holdings has reported a 38% increase in revenue for the full year ended December, on the back of increased production and higher rutile prices. Revenue for the full year reached $254-million while earnings before interest, tax, depreciation and amortisation (Ebitda)... 

Glencore announces $1.5bn share buyback programme

By: Darren Parker     24th February 2023 Diversified miner Glencore has announced the launch of a share buyback programme valued at $1.5-billion. The company said on February 24 that the programme would be conducted in accordance with the authority granted by shareholders at the 2022 annual general meeting (AGM) and was subject to... 

Eskom denies tipping into Stage 8 loadshedding, but confirms revised framework could go up to Stage 16 

By: Terence Creamer     24th February 2023 Embattled State-owned utility Eskom has denied having implemented either Stage 7 or Stage 8 loadshedding during what it acknowledged to have been a “tough week”, during which it reported power cuts exceeding 7 000 MW over some evening peaks. Each stage of loadshedding typically equates to 1 000 MW. 

A candle burning in the dark

Implats once again extends date for completing RBPlat buyout

By: Darren Parker     24th February 2023 Platinum group metals (PGMs) miner Impala Platinum (Implats) has announced a further extension of the important dates and times for the close of its offer to Royal Bafokeng Platinum (RBPlat) shareholders. The closing date of the offer has been extended to March 31, with Implats reserving its... 

RBPlat's earnings fall on lower production, inflationary pressures

By: Creamer Media Reporter      24th February 2023 Platinum group metals (PGMs) miner Royal Bafokeng Platinum (RBPlat) has informed shareholders that it is likely to post lower earnings per share (EPS) and headline earnings per share (HEPS) for the year ended December 31, mainly as a result of lower production and inflationary pressures. It added... 

Mpumalanga issued directive by national govt to step up efforts to break coal dependency

By: Yvonne Silaule     24th February 2023 The Mpumalanga Provincial Government is, in partnership with the Presidential Climate Commission, the Climate Investment Fund and the World Bank, exploring plans to diversify local economic activity to reduce its dependency on coal. Premier Refilwe Mtshweni-Tsipane noted during her provincial... 

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