R/€ = 18.1261 Change: -0.0062
R/$ = 17.1717 Change: -0.0059
Au 1789.20 $/oz Change: -0.36
Pt 1009.99 $/oz Change: 0.53

Africa News

Harmony Gold’s Tshepong mines steal first-quarter show 

By: Martin Creamer     17th November 2022 Harmony Gold Mining Company’s disaggregated Tshepong North and Tshepong South gold mines stole the proverbial show by both delivering strong operational performances in the three months to the end of September. The two Free State mines provided 37% of group operating free cash flow and drove much... 

Volatility reigns as nickel plunges after rising 40% in two weeks

By: Reuters     17th November 2022 Nickel fell as much as 11.6% on Wednesday in volatile and illiquid trade as a rally in which prices of the stainless steel ingredient rose 40% in just two weeks came to a juddering halt. Traders blamed low liquidity for the volatility, the most severe since March. The London Metal Exchange... 

Lucara and HB Trading extend sales agreement

By: Creamer Media Reporter      17th November 2022 Vancouver-based Lucara Diamond Corp has extended the sales agreement with HB Trading for the high-value diamonds from the Karowe mine, in Botswana, for another ten years. Under the agreement, Lucara’s +10.8 ct production is sold at prices based on the estimated polished outcome of each diamond,... 

AfriTin’s vision is to fast-track lithium 

By: Martin Creamer     17th November 2022 The vision of Africa’s aspirant tech-metal champion AfriTin Mining is to fast-track lithium production as it expands its footprint in Namibia. The six months to the end of August has seen the London Aim-listed company focus on bringing lithium and tantalum byproducts into production. 

AfriTin CEO Anthony Viljoen.
AfriTin CEO Anthony Viljoen.

FFI cements Egyptian relationship

By: Esmarie Iannucci     17th November 2022 Green energy developer Fortescue Future Industries (FFI) has signed a major Framework Agreement with Egypt at COP27, to collaborate on studying and developing green hydrogen and renewable energy projects in Egypt. FFI said this week that the agreement was another milestone in the strong... 

Transnet battles coal truck logjam at Richards Bay

By: Reuters     17th November 2022 State logistics firm Transnet is working to clear a jam of trucks carrying coal and other commodities at its Richards Bay port after last week's derailment on a rail artery drove more product onto the road. A train carrying coal for export derailed on Nov. 8 on Transnet's North Corridor, causing... 

Trucks transporting coal

Gold Fields takes a stake in Tesoro

By: Esmarie Iannucci     17th November 2022 ASX-listed Tesoro Gold will raise A$8-million through a strategic placement to gold miner Gold Fields and a fully underwritten non-renounceable entitlement offer. Tesoro on Thursday announced a A$4.2-million investment by gold miner Gold Fields through its wholly owned subsidiary Corporate... 

Predictive on track to deliver scoping study for Guinea project by end-2023

By: Marleny Arnoldi     17th November 2022 ASX-listed Predictive Discovery plans to publish an updated mineral resource estimate (MRE) on the Bankan gold project, in Guinea, by the end of January next year, in time for the Investing in African Mining Indaba, which will be held in Cape Town, from February 6 to 9. The updated MRE will be... 

Tribunal approves Implats’ buyout of RBPlat subject to conditions

By: Tasneem Bulbulia     16th November 2022 The Competition Tribunal has approved the proposed large merger whereby Impala Platinum (Implats) intends to acquire all shares in Royal Bafokeng Platinum (RBPlat), subject to a package of competition and public interest conditions. The conditions relate to, among others, Implats honouring its... 

USAID calls for JET Minerals Challenge applications

By: Tasneem Bulbulia     16th November 2022 An administrator for the US Agency for International Development (USAID), Samantha Power, this week announced an open call for innovations by USAID for the Powering A Just Energy Transition Green Minerals Challenge (JET Minerals Challenge). The JET Minerals Challenge, launched during COP27 in... 

Renewable microgrid tech underpinning Gold Fields’ decarbonisation in Australia

By: Martin Creamer     16th November 2022 Renewable microgrid technology is underpinning the delivery of the decarbonisation targets of Gold Fields in Australia, Mining Weekly can report. From a 2016 baseline, the Johannesburg- and New York-listed gold mining company is targeting halving of Scope 1 and 2 emissions by 2030. 

Analysts, investors at Gold Fields site visit.
Analysts, investors at Gold Fields site visit.

Eastplats reports higher third-quarter, nine-month revenue

By: Tasneem Bulbulia     16th November 2022 Dual-listed Eastern Platinum’s (Eastplats’) revenue for third quarter ended September 30 increased by 8.1% year-on-year to $17.2-million, taking revenue for the nine months ended September 30 to $55.1-million –  a 4.8% year-on-year increase. Mine operating income increased by $2.5-million, or... 

Atlantic Lithium founder posthumously honoured at London conference

By: Simone Liedtke     16th November 2022 Aim-listed lithium miner Atlantic Lithium founder and former CEO Vincent Mascolo has been posthumously shortlisted for the Mining CEO of the Year Award. Mascolo passed away unexpectedly in March this year. 

Aterian appoints new CFO

By: Darren Parker     16th November 2022 London-listed critical and strategic metal-focused exploration and development company Aterian has appointed UK-based chartered accountant Graham Duncan as its new CFO, with immediate effect. Duncan has more than 25 years of capital markets experience. He also holds a Corporate Finance Diploma... 

Southern Palladium reports robust assay results from Bengwenyama project

By: Darren Parker     16th November 2022 Assay results from platinum group metals (PGMs) developer Southern Palladium’s upper group two (UG2) reef on the Bengwenyama PGMs project, located on the eastern limb of the Bushveld Complex, have returned a weighted average four-element (4E) PGMs grade of 8.73 g/t in three of the holes, over an... 

De Beers reports good demand for rough diamonds in latest sales cycle

By: Tasneem Bulbulia     16th November 2022 The value of diamond miner De Beers’ rough diamond sales for the ninth sales cycle of the year amounted to $450-million. Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers group says it has continued to implement a more flexible... 

An image of De Beers diamond sales
De Beers group continued to implement a more flexible approach to rough diamond sales during this cycle

Top green hydrogen/fuel cell collaboration boost for platinum-group metals 

By: Martin Creamer     16th November 2022 A joint development agreement struck between global majors Nel Hydrogen US and General Motors is expected to speed up the development of green hydrogen technology that is competitive with fossil fuels.  The aim of agreement is to help accelerate the industrialisation of Nel’s proton exchange... 

Green hydrogen and fuel cell collaboration announced by Nel and General Motors of the US.
Green hydrogen and fuel cell collaboration announced by Nel and General Motors of the US.

Commodity star lithium shows signs of cooling after 1 200% rally

By: Bloomberg     16th November 2022 A two-year buying frenzy in the world’s biggest lithium market is showing tentative signs of cooling off into the end of 2022 as huge increases in demand from China’s electric-vehicle sector begin to moderate. Spot prices for lithium carbonate in China edged lower on Tuesday to register their... 

Commodity star lithium shows signs of cooling after 1 200% rally

Lucapa reports another successful tender

By: Esmarie Iannucci     16th November 2022 Diamond miner Lucapa has generated A$30.1-million in revenue from its latest international diamond tender, which featured seven special sized diamonds weighing 767 ct recovered at its Lulo mine, in Angola. The ASX-listed company on Wednesday said that the seven diamonds averaged A$39 237/t, with... 

Eskom presents 6 000 MW fleet recovery plan, but describes 75% EAF target as ‘daunting’

By: Terence Creamer     15th November 2022 Electricity utility Eskom has outlined a plan to deliver 6 000 MW of much-needed capacity over the coming two years from its own fleet, primarily by recovering production at six underperforming coal stations and also by completing its much-delayed build programme. However, the utility again... 

Eskom COO Jan Oberholzer
Photo by Creamer Media's Donna Slater
Eskom COO Jan Oberholzer

Sparkling Venetia underground diamond project heading for first production in 2023 

By: Martin Creamer     15th November 2022 A visit by Mining Weekly to the Venetia Underground Project (VUP) on November 14 provided far-reaching insight into this major diamond development that is scheduled to achieve occupational readiness and first production next year – "hopefully in the first part of the year, all going well", said... 

Mining Weekly was part of this week's Venetia Underground Project media visit.
Mining Weekly was part of this week's Venetia Underground Project media visit.

Green hydrogen could sustainably industrialise Africa, boost GDP in six key countries – new report

By: Simone Liedtke     15th November 2022 With global demand for hydrogen projected to rise sevenfold by 2050, new analysis from the Africa Green Hydrogen Alliance (AGHA) and analytical support from McKinsey, quantifies opportunity for the six current member countries of the alliance, namely Egypt, Kenya, Mauritania, Morocco, Namibia and... 

Hummingbird achieves compliance with WGC responsible mining principles

By: Simone Liedtke     15th November 2022 Aim-listed Hummingbird Resources has achieved compliance with the World Gold Council’s (WGC’s) Responsible Gold Mining Principles (RGMP), within the shortest possible timeframe and at both corporate level, as well as at its Yanfolila site. The miner says it is committed to operating responsibly... 

Rich nations stick to coal phase-out as China builds new plants

By: Reuters     15th November 2022 Rich nations have stuck to pledges to phase out coal power despite the energy crunch in the wake of the Ukraine war but China's expanding coal fleet risks counteracting the climate impact of the closures, a report said on Tuesday. Countries within the Organization for Economic Cooperation and... 

Kore hoping for ongoing support in Congo

By: Esmarie Iannucci     15th November 2022 Triple listed Kore Potash has responded to a disgruntled letter from the Republic of Congo’s Minister of Mines, hoping to gain continued support for its potash projects in the region. The Minister of Mines in October sent a letter to the ASX, Aim and JSE-listed company, expressing his discontent... 

Independent study confirms potential for Centamin to expand its Sukari underground operations

By: Chanel de Bruyn     15th November 2022 LSE- and TSX-listed Centamin reports that an independent option study has confirmed the potential of its expanding the Sukari Underground mine, in Egypt, to 1.5-million tonnes a year of ore milled. This is at the upper end of the previously indicated range and represents a 31% increase in ore... 

The Sukari underground mine in Eguypt

Liquidator appointed for Trevali’s Perkoa mine

By: Mariaan Webb     15th November 2022 The Judicial Tribunal of Burkina Faso has granted an order to liquidate embattled Canadian firm Trevali Mining’s Nantou Mining subsidiary, handing over operational control of the Perkoa mine to a liquidator. Nantou Mining’s liquidity position has deteriorated significantly in the months... 

South Africa sets sights on $250bn in hydrogen investment

By: Bloomberg     15th November 2022 South Africa set its sights on attracting as much as $250-billion into its nascent green hydrogen industry by 2050 to take advantage of abundant solar and wind energy sources. The industry could create 1.4 million jobs and generate as much as $30-billion in annual revenue by that year, according... 

Opinion: African minerals are critical for the green energy transition

15th November 2022 In this article, Konrad-Adenauer-Stiftung – South African Institute of International Affairs scholar Danielle Marais writes about the importance of Africa's mineral resources for the global green energy transition. 

KAS-SAIIA Scholar Danielle Marais

Leo secures port services for Goulamina

By: Esmarie Iannucci     15th November 2022 Lithium developer Leo Lithium has finalised a shipping solution for product from its Goulamina lithium project, in Mali. The company on Tuesday told shareholders that it had signed an agreement with SEA-Invest for port services, including product unloading, storage and ship-loading at the... 

TFR clears derailment on north corridor

By: Darren Parker     14th November 2022 Following heavy rain over the weekend and complex recovery processes, the joint state-owned Transnet Freight Rail (TFR) and industry teams managed to clear all 97 derailed wagons from the derailment site on its North Corridor by 08:15 on November 14. The recovery and clean-up operation follows a... 

Madison gets enviro go-ahead to begin drilling programme in Namibia

By: Darren Parker     14th November 2022 Uranium developer Madison Metals has been awarded an environmental clearance certificate (ECC) by the Namibian Ministry of Environment, Fisheries and Tourism for exclusive prospecting licences 8531 (EPL-8531) and 8115 (EPL-8115).   The issuance of the ECC is underpinned by the submitted and... 

Study confirms $1bn cash generation potential for K.Hill manganese project  

By: Marleny Arnoldi     14th November 2022 TSX-V-listed Giyani Metals Corporation says a feasibility study for the K.Hill project, in Botswana, has confirmed a low capital intensity for what can be one of the largest high-purity manganese sulphate monohydrate (HPMSM) projects in the world. The study, which was prepared by SRK... 

Exploration drilling at the K.Hill project in Botswana

Caledonia starts operating solar plant at Blanket mine

By: Marleny Arnoldi     14th November 2022 Dual-listed Caledonia Mining Corporation’s solar plant at the Blanket gold mine, in Zimbabwe, started operating on November 14 and will soon supply about 27% of the mine’s average daily electricity demand. The mine, however, still receives the majority of its electricity from Zimbabwe’s... 

Pensana outlines exploration findings on more rare earth targets

By: Marleny Arnoldi     14th November 2022 Rare earths developer Pensana has confirmed that it will predominantly focus its exploration efforts next year on the Sulima West carbonatite target, on the Coola exploration licence, in Angola. The target is located 40 km north of its Longonjo rare earths mine, which is under construction.  

Shanta ends takeover talks with Shandong and Chaarat

By: Mariaan Webb     14th November 2022 East Africa-focused Shanta Gold on Monday announced that it had ended takeover discussions with Shandong Gold Group and Chaarat Gold, sending the Aim-listed miner’s share price down 12%. Shanta entered into negotiations with Shandong, Chaarat and Yintai Gold in October. Yintai previously... 

Kropz enters into R550m convertible facility agreement

By: Darren Parker     14th November 2022 Aim-listed emerging African phosphate producer and developer Kropz has entered into a new conditional convertible equity facility of up to R550-million – about $31.6-million – with major shareholder African Rainbow Capital (ARC) Fund to progress the ramp-up of operations at the Elandsfontein... 

China demand optimism propels copper to five-month high

By: Reuters     14th November 2022 Copper prices hit near five-month highs on Monday on optimism about demand in top consumer China after officials moved to shore up the country's property sector and ease its strict Covid restrictions. However, selling spurred by a firmer dollar, higher inventories and profit-taking saw copper... 

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