R/€ = 17.06 Change: -0.10
R/$ = 16.63 Change: -0.10
Au 1768.20 $/oz Change: -37.01
Pt 868.00 $/oz Change: -8.90

Africa News

Aussie miners move to allay shareholder fears following Moz attack

By: Esmarie Iannucci     9th June 2022 An insurgent attack at a mine project in the Cabo Delgado province, in Mozambique, has seen ASX-listed miners operating in the region scramble to assure shareholders. The insurgent attack happened at a mine project near Ancuabe, some 200 km from ASX-listed Syrah Resources’ Balama project, as well... 

Moody’s raises alarm on Transnet, puts it on notice for downgrade

By: News24Wire      9th June 2022 The credit ratings agency Moody's has placed most of Transnet’s credit ratings on review for a downgrade. Moody’s says it has become increasingly concerned over the Transnet's exposure to weak liquidity management and high refinancing risk. 

Seventh missing miner found dead in flooded Burkina Faso mine

By: Reuters     9th June 2022 A seventh dead body of a miner missing from a Burkina Faso zinc mine owned by Trevali Mining Corp that flooded on April 16 was discovered on Wednesday and search teams are continuing to look for an eighth, the government said in a statement. Hopes of finding any survivors vanished last month when... 

Lucapa warns of tax changes in Lesotho

By: Esmarie Iannucci     9th June 2022 Diamond miner Lucapa Diamond Company has flagged a possible legislative change in Lesotho, which could affect its operations. A proposed value added tax (VAT) Amendment Bill is currently under consideration in the Kingdom of Lesotho, which could result in the diamond industry in Lesotho no... 

Here’s one idea for ending load-shedding within two years  

By: Terence Creamer     9th June 2022 As Eskom consults a range of experts to assess potential solutions for resolving the load-shedding crisis, independent energy analyst Clyde Mallinson has a proposal that he believes will end rotational power cuts in two years without creating stranded assets or increasing tariffs. The proposed... 

Independent energy analyst Clyde Mallinson
Independent energy analyst Clyde Mallinson

Anglo American, IFC ink $100m sustainability-linked loan to benefit South African mine communities

By: Creamer Media Reporter      9th June 2022 Diversified miner Anglo American has signed a $100-million ten-year loan agreement with the International Finance Corporation (IFC) linked to the delivery of sustainability goals that are integral to the mining group's Sustainable Mining Plan. The specific goals tied to the loan agreement are... 

Anglo American FD Stephen Pearce
Anglo American FD Stephen Pearce

Gold’s haven appeal burnished by drumbeat of growth warnings

By: Bloomberg     9th June 2022 Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2 000/oz. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven, according to speakers... 

An image of gold bars

China ban on foreign coal investment leaves Zimbabwe scrambling

By: Bloomberg     8th June 2022 Zimbabwe’s plan to refurbish two idled coal-fired power stations has been thrown into disarray by China’s decision to ban investment in plants burning the dirtiest fossil fuel outside its borders. Zimbabwe was depending on China to help get the Bulawayo Power Station, which has a design capacity... 

Phase 2 exploration programme at Altona’s Monte Muambe on track

By: Creamer Media Reporter      8th June 2022 Exploration company Altona says the Phase 2 exploration programme at its flagship Monte Muambe rare earths project, in Mozambique, is progressing on schedule for the completion of a maiden Joint Ore Reserves Committee resource statement by the first quarter of 2023 and a preliminary economic... 

Northam urges tribunal to accept its assistance in proposed RBPlat merger 

By: Tasneem Bulbulia     8th June 2022 Platinum group metals (PGMs) miner Northam Platinum is requesting the Competition Tribunal to accept its request to intervene in and assist in the tribunal processes related to fellow PGM miner Impala Platinum’s (Implats’) proposed buyout of Royal Bafokeng Platinum (RBPlat). As reported by Mining... 

JSE recounts rousing tent-to-tech journey as Southern Palladium turns listing tide  

By: Martin Creamer     8th June 2022 The first in-person listing of the Johannesburg Stock Exchange since covid heard the African kudu horn serenade an opening bid of R6.90 a share for platinum group metals (PGMs) company Southern Palladium, which on Wednesday took its place on the JSE’s main board as a secondary listing under the... 

Creamer Mdedia screenshot.
Southern Palladium’s JSE listing covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Montage expands Koné with C$30m deal to buy Barrick-Endeavour JV

By: Creamer Media Reporter      8th June 2022 Canada-based precious metals explorer and developer Montage Gold is expanding its Koné gold project, in Côte d'Ivoire, with the acquisition of a 100% interest in the Mankono-Sissédougou joint venture (JV) project from Barrick Gold and Endeavour Mining for C$30-million in cash and shares. Mankono... 

Uganda says exploration results show it has 31Mt of gold ore

By: Reuters     8th June 2022 Uganda on Wednesday said recent exploration surveys have shown it has gold ore deposits of about 31 million tonnes and it wants to attract big investors to develop the sector hitherto dominated by small wildcat miners. Over the last two years aerial exploration was done across the country... 

M&R's Mining platform achieves strong recovery, order book at pre-pandemic levels

By: Schalk Burger     8th June 2022 Engineering and mining contracting firm Murray & Roberts’ (M&R’s) Mining platform says its order book has recovered to pre-pandemic levels. M&R Mining Platform CEO Mike da Costa adds that the platform has made a strong recovery from the economic effects of the Covid-19 pandemic. 

A photo of M&R Cementation's work at the New Clydesdale colliery

Resources Watch 

8th June 2022 This week: Sedibelo Platinum to play important part in South Africa’s green hydrogen effort; And, Junior explorer scores big in Namibian gold belt where mining majors failed 

Resources Watch image
Resources Watch

Activist Bluebell piles pressure on Glencore to fix coal unit

By: Bloomberg     8th June 2022 Activist investor Bluebell Capital Partners has again asked Glencore Plc to overhaul its climate policy, while seeking support from other shareholders to push for reform at the commodities giant. London-based Bluebell wants Glencore to put forward a plan at next year’s annual meeting to separate... 

Lithium grades at Uis surpassing AfriTin's expectations

By: Creamer Media Reporter      8th June 2022 Initial results from a lithium and tantalum drilling programme at Aim-listed AfriTin Mining's Uis mine, in Namibia, have produced lithium grades surpassing the company's expectations, says CEO Anthony Viljoen. He adds that the drilling results reinforce the company's belief that the Uis mine is... 

Newmont sells 3 500 oz of gold to Ghana under local purchasing plan

By: Reuters     8th June 2022 Newmont's Africa unit has sold 3 500 oz of gold to the Bank of Ghana under a central bank domestic gold purchasing programme launched in June 2021, the company said in a statement on Tuesday. The gold purchasing programme aims to increase gold reserves and spurred discussions with the Chamber or... 

Increased efficiency cuts carbon, advances net-zero path, research finds  

By: Martin Creamer     8th June 2022 Like all other key industries, mining is having to advance along a net-zero path as part of the global decarbonisation drive. Gone are the days when innovation and financial improvement can be sold on their own without a carbon advantage. (Also watch attached Creamer Media video.) 

Creamer Media screenshot.
Rocsole CEO Mika Tienhaara interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Employee killed in engineering-related incident at Harmony's Kusasalethu

By: Creamer Media Reporter      7th June 2022 Gold miner Harmony Gold says an employee has died following an engineering-related incident at its Kusasalethu mine, near Carletonville, on June 6. “Our heartfelt condolences go out to those impacted by this loss of life. We are deeply saddened and very concerned by the frequency of incidents,... 

Solidarity calls for action after illegal miners allegedly kill Sibanye-Stillwater employee

By: Tasneem Bulbulia     7th June 2022 Trade union Solidarity has expressed “utter disgust” at what it alleges was the killing of an electrician by illegal miners at Sibanye-Stillwater’s Cooke plant. The union says illegal miners on the night of June 6 shot and killed a worker while he was doing normal repair work to power cables. 

New coal ‘inconsistent’ with spirit of $8.5bn climate partnership, US Treasury warns  

By: Terence Creamer     7th June 2022 Any public steps by South Africa that were suggestive of new coal having a place in the country’s future energy mix would be inconsistent with the intentions of the Just Energy Transition Partnership (JET-P) signed at COP26 in November, US Treasury climate counselor John Morton has cautioned. The... 

New coal ‘inconsistent’ with spirit of $8.5bn climate partnership, US Treasury warns

De Beers hikes small diamond prices as sanctions cause shortages

By: Bloomberg     7th June 2022 De Beers has raised the price of smaller diamonds as sanctions on its Russian rival creates a growing shortage of some stones. The price of small rough diamonds, the type that would end up clustered around the solitaire stone in a ring, has surged since the start of March as cutters, polishers... 

Zambia starts search for new investor in Konkola Copper Mines

By: Reuters     7th June 2022 Zambia's Konkola Copper Mines (KCM) will appoint an adviser to help it find an equity investor willing to fund the mine's expansion, its provisional liquidator said on Tuesday. Zambia's previous government put KCM into the hands of a liquidator in May 2019, triggering an ongoing legal dispute... 

2021 confirmed as most intensive load-shedding year yet as Eskom’s EAF continues to fall 

By: Terence Creamer     7th June 2022 The Council for Scientific and industrial Research (CSIR) has confirmed that 2021 surpassed 2020 as South Africa’s most intensive load-shedding year to date, as the performance of Eskom’s coal fleet continued to deteriorate. Load-shedding occurred for 1 169 hours, or 13% of the year, with an... 

Eskom coal-fired power plant
Photo by Creamer Media
Eskom coal-fired power plant

GDP returns to pre-pandemic levels, up 1.9% q/q in the first quarter

By: Donna Slater     7th June 2022 Statistics South Africa (Stats SA) reports that the country’s seasonally-adjusted gross domestic product (GDP) rose by 1.9% quarter-on-quarter in the first quarter of the year, driven primarily by the manufacturing sector, which increased by 4.9% and contributed 0.6 of a percentage point to the... 

An image showing the sectors contributing most to South Africa's GDP

Bioremediation could be a solution to mining tailings – Averda SA

By: Schalk Burger     7th June 2022 Bioremediation of mining waste streams, or tailings, is a promising solution for mines to achieve their zero waste-to-landfill objective and replace chemical remediation to render hazardous wastes inert, waste management and recycling company Averda SA says. Mine tailings are diverse and the most... 

A photo of bioremediation being implemented at a mine site

ETFs shed $3bn worth of gold assets in May

By: Marleny Arnoldi     7th June 2022 The World Gold Council (WGC) reports that outflows of global gold-backed exchange-traded funds (ETFs) have ended their four-month run of positive inflows, with outflows totalling 53 t, or $3.1-billion, in May. While this was the largest monthly outflow since March 2021, total holdings remain 8%... 

Rare earths mining marking time amid prospecting bid to explore on same site 

By: Martin Creamer     7th June 2022 A rare earths development is marking time owing to a prospecting right appeal to explore where a mining right has already been granted, Steenkampskraal chairperson Trevor Blench disclosed at last week’s Junior Indaba. The Steenkampskraal mine contains all fifteen rare earths, including those that... 

Picture supplied
Steenkampskraal chairperson Trevor Blench.

Moody's expects most commodity prices to remain high over short term

By: Marleny Arnoldi     7th June 2022 Financial research firm Moody’s Investor Service says in its latest outlook for metals and mining that most commodity prices will remain high for the time being, supporting increases in earnings for many companies. Particularly, base metals prices will remain high and volatile, as prices for... 

Blockchain platform Minexx to assist artisanal miners in Rwanda

By: Tasneem Bulbulia     7th June 2022 Blockchain platform Minexx has been approved by the government of Rwanda to support artisanal miners access capital and supply global markets in a way that meets Organisation for Economic Cooperation and Development and International Conference on the Great Lakes Region responsible sourcing... 

Platinum surplus is ‘fragile’ amid supply risks, council warns

By: Bloomberg     7th June 2022 Platinum’s surplus is “fragile” amid supply risks and growing demand, according to the World Platinum Investment Council. “Supply is fairly constrained and you will not see supply from mines growing in the near or medium-term future,” CEO Paul Wilson said at a precious metals conference in... 

Photo of platinum bars

Mali gold mining revenue rises 23% in 2021

By: Reuters     7th June 2022 State revenue from gold mining companies in Mali rose 23% year-on-year in 2021 to 564.5-billion CFA francs ($931-million) after certain tax allowances were ended, a mines ministry official said on Monday. Mali is one of Africa's top gold producers and home to industrial mines operated by... 

Workers at Rusal's Guinea bauxite mine end strike, obtain salary rise

By: Reuters     7th June 2022 Striking employees of Russian aluminium giant Rusal's Guinea subsidiary Compagnie des Bauxites de Dian-Dian (COBAD) returned to work on June 2, one week after their protest action started, a union leader said on Monday. The workers at COBAD went on strike on May 26 to demand better pay and... 

Volt finds offtake partner for Tanzanian project

By: Esmarie Iannucci     7th June 2022 ASX-listed Volt Resources has inked a letter of intent (LoI) with battery anode material producer Graphex Group for the sale of 5 000 t/y of graphite from its Bunyu project, in Tanzania, for a period of ten years from the start of production. The LoI is non-binding and would see the parties... 

Congo auditor says $400m went missing from state mining company

By: Reuters     6th June 2022 More than $400-million in tax advances and loans that Democratic Republic of Congo's state mining company Gecamines said it paid to the national treasury cannot be found, according to a report by the government's public finances watchdog. State miner Gecamines holds minority stakes in several of... 

Kamoa-Kakula delivers record monthly copper output

By: Marleny Arnoldi     6th June 2022 TSX-listed Ivanhoe Mines’ Kamoa-Kakula mining complex, in the Democratic Republic in Congo, has set a new monthly production record, with 29 800 t of copper in concentrate produced in May. The operation achieved record output despite planned interruptions during the month, such as scheduled... 

Kamoa-Kakula copper mining complex, in DRC
Kamoa-Kakula copper mining complex, in DRC

AECI Mining’s new CEO aims to cut carbon footprint, grow outside Africa 

By: Irma Venter     6th June 2022 Newly appointed AECI Mining CEO Mark Kathan (51) says his main focus over the medium term will be the greening of the company’s manufacturing and logistical footprint, while also growing the firm’s presence in the rest of the world. Kathan, the former AECI CFO, put up his hand for the top job at... 

Image of AECI Mining CEO Mark Kathan 
AECI Mining CEO Mark Kathan 
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