R/€ = 17.06 Change: -0.09
R/$ = 16.63 Change: -0.10
Au 1768.50 $/oz Change: -36.71
Pt 870.00 $/oz Change: -6.90

Africa News

Egypt awards eight gold and metal mining exploration licences

By: Reuters     1st June 2022 Egypt awarded eight gold and metal mining exploration licences in the eastern desert region, the petroleum ministry said on Wednesday, as it seeks to increase investments in this underdeveloped industry. Four companies won the licences – Lotus Gold, AKH Gold, Marine Logistics Gold Mining and Ankh... 

Newfield resumes mining at Sierra Leone diamond mine

By: Esmarie Iannucci     1st June 2022 ASX-listed Newfield Resources has resumed mining at its Tongo diamond mine, in Sierra Leone, following a fatality in May. The company in May reported a fall of ground incident in an underground development heading at Tongo, with Newfield suspending all mining operations at the mine allowing for... 

Shell, Mantashe's lawyers defend environmental plan for seismic blasting

By: News24Wire      1st June 2022 Both Shell and Minister of Mineral Resources and Energy Gwede Mantashe's lawyers assert that an environmental management plan for the proposed seismic survey off the Wild Coast qualified as environmental authorisation, a court heard. A full bench at the Port Elizabeth High Court in Gqeberha on... 

Minister of Mineral Resources and Energy Gwede Mantashe
Minister of Mineral Resources and Energy Gwede Mantashe

Feasibility study of Namibia’s gigawatt-scale green hydrogen project to start this year 

By: Terence Creamer     1st June 2022 The preferred bidder for a gigawatt-scale green hydrogen-to-ammonia project near the coastal town of Lüderitz, in Namibia, is aiming to conclude an implementation agreement with government by August, opening the way for a full-scale feasibility study to enable the implementation of the... 

Artist impression of the Hyphen electrolyser facilities proposed for development near  Lüderitz, in Namibia
Photo by Supplied
Artist impression of the Hyphen electrolyser facilities proposed for development near Lüderitz, in Namibia

Resources Watch  

1st June 2022 This week: Platinum-boosted South African hydrogen electrolyser leaps ahead, and, South Africa must reform its regulatory environment, make itself investor-friendly  

Resources Watch image
Resources Watch

South32 completes Mozal buy  

By: Esmarie Iannucci     1st June 2022 Diversified miner South32 has completed the acquisition of an additional 16.6% shareholding and related rights in Mozal Aluminium from Mitsubishi’s MCA Metal for a final cash consideration of some $200-million. 

South32 completes Mozal buy

Glencore helps Zambia's Mopani Copper Mines pay bills

By: Reuters     31st May 2022 Mining and commodity trading giant Glencore has helped to fund Zambia's Mopani Copper Mines as the company has been unable to pay its bills on time and the state has yet to find a new investor more than a year after it took over the complex. Glencore, which sold Mopani to state mining investment... 

Big Tree Copper expects copper demand to rise, Northern Cape to benefit

By: Schalk Burger     31st May 2022 Copper mining waste reprocessing company Big Tree Copper CE Jan Nelson expects a steady climb in demand for copper over the next three decades, as the world has turned its full attention to sustainable energy and a greener economy. Demand is expected to exceed supply, with an expected to upward... 

Emmerson pushes to start building Khemisset by year-end

By: Marleny Arnoldi     31st May 2022 Aim-listed Emmerson says it has made considerable operational, corporate and commercial progress towards delivering a “shovel-ready” Khemisset potash project, in Morocco, by the end of the year. The year ended December 31, 2021, helped boost Emmerson’s net present value predictions for the... 

Contracts for ‘emergency’ power procurement programme to be signed on June 2  

By: Terence Creamer     31st May 2022 Power purchase agreements arising from the much-delayed Risk Mitigation Independent Power Producer Procurement Programme will be signed on June 2, the Department of Mineral Resources and Energy revealed on Tuesday. The DMRE did not indicate whether all 11 projects would be signed, saying only... 

Mineral Resources and Energy Minister Gwede Mantashe.
Mineral Resources and Energy Minister Gwede Mantashe.

Caracal agrees to revised agreement in Tyacks buyout

By: Tasneem Bulbulia     31st May 2022 LSE-listed Caracal Gold has agreed to a revised share purchase agreement (SPA) for its proposed acquisition of Tyacks Gold – the holder of the licences collectively referred to as the Nyakafuru project in Tanzania. The project is located in the Lake Victoria Gold Fields in northern Tanzania, 140... 

Sedibelo Platinum to play important part in South Africa’s green hydrogen effort – Frandsen  

By: Martin Creamer     31st May 2022 Sedibelo Platinum Mines, in South Africa’s North West province, will be playing a very important part in South Africa's green hydrogen effort to ensure that it contributes to a greener South Africa, chairperson Arne Frandsen assured Mining Weekly on Tuesday. Frandsen is the managing partner and... 

Creamer Media screenshot
Pallinghurst Group's Arne Frandsen interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Oil powers to sixth monthly gain as EU set to curb Russian flows

By: Bloomberg     31st May 2022 Oil headed for the longest run of monthly gains in more than a decade as European Union (EU) leaders agreed to pursue a partial ban on imports of crude from Russia to increase pressure on Moscow for its invasion of Ukraine. Global benchmark Brent topped $122 a barrel, hitting a two-month high.... 

Altus discovers high-grade gold prospects at its Egypt projects

By: Tasneem Bulbulia     31st May 2022 Aim-listed Altus Strategies has announced the discovery of multiple high-grade gold prospects from reconnaissance sampling across all four of the company’s projects in Egypt. Moreover, it has also announced the award of two further gold exploration licences, totalling 349 km2, which will increase... 

Gold Fields sets sights on further growth with proposed buyout of Yamana 

By: Tasneem Bulbulia     31st May 2022 JSE- and NYSE-listed Gold Fields and Americas-focused gold producer Yamana Gold have entered into a definitive agreement under which Gold Fields will acquire all of the outstanding common shares of Yamana Gold pursuant to a plan of arrangement. The transaction implies a valuation for Yamana of... 

An image of Gold Fields CEO Chris Griffith
Chris Griffith

FAR weighing options for Gambian assets

By: Esmarie Iannucci     31st May 2022 ASX-listed FAR on Tuesday flagged a range of strategies to realise value. Chairperson Patrick O’Connor told shareholders at the company’s annual general meeting that FAR is undertaking a review to determine how best to realise value from its investment in Gambia. 

Sibanye appoints chief regional officers for Americas, Southern Africa

By: Creamer Media Reporter      31st May 2022 Multinational mining and metals group Sibanye-Stillwater has appointed Charles Carter as Americas chief regional officer, with effect from June 1, as the group establishes a regionalised leadership structure to help it deliver on its corporate strategy. The new regionalised leadership structure... 

Leo Lithium's IPO draws a crowd

By: Esmarie Iannucci     31st May 2022 Lithium spin-off Leo Lithium has raised A$100-million in its initial public offering (IPO). ASX-listed Firefinch on Tuesday said that the IPO, which had comprised a pro-rata offer to eligible Firefinch shareholders, a shortfall offer and an offer to Firefinch, received strong support from... 

Image shows the ASX building

Commissioning of Renergen’s Virginia gas plant progressing smoothly

By: Darren Parker     30th May 2022 The commissioning of the Phase 1 plant at integrated energy company Renergen’s Virginia gas project, in the Free State, is progressing smoothly, the company announced on May 30. The company said the cooling systems had been fully commissioned, as had the nitrogen removal system to purify the helium. 

UK govt provides support to Pensana’s Saltend refinery

By: Marleny Arnoldi     30th May 2022 London-listed Pensana’s plans to develop a £150-million rare earths refinery at the Saltend Chemicals Park, in the UK, have been approved by the East Riding of Yorkshire Council (ERYC). Pensana seeks to create a magnet metals supply chain in the UK, especially considering that 90% of the... 

Transnet increasing rail and port capacity allocation for emerging miners 

By: Martin Creamer     30th May 2022 To reduce barriers to entry, improve the ease of doing business and support transformation of the mining sector, measures are to be implemented to increase rail and port capacity allocation for emerging miners, Transnet announced on Monday. Improving access to loading facilities, and simplifying... 

Picture from Creamer Media files.
Rail capacity allocation for emerging miners to be increased.

Atlantic Lithium set to expand Ewoyaa project as visible spodumene observed

By: Tasneem Bulbulia     30th May 2022 Aim-listed lithium explorer and developer Atlantic Lithium has reported the visual identification of spodumene in new drilling at the Ewoyaa lithium project, in Ghana. The company says the new discovery offers potential to significantly expand the resource with spodumene seen over 80 m in... 

AngloGold Ashanti to list on A2X

By: Darren Parker     30th May 2022 Gold miner AngloGold Ashanti has been approved for a secondary listing on A2X, where its shares will be available for trade from June 6. AngloGold said on May 30 that it believed the A2X listing would allow a new, competitively priced, alternative platform for investors to trade shares of the... 

Mkango, CoTec to collaborate on downstream rare earth technologies

By: Tasneem Bulbulia     30th May 2022 Aim- and TSX-V-listed Mkango has signed a nonbinding term sheet with environment, social and governance-focused company CoTec Holdings, in relation to investments by CoTec into Mkango and Mkango’s subsidiary, Maginito, and in collaboration in downstream rare earth technologies. The transactions... 

Predictive to raise A$55m for Guinea work

By: Esmarie Iannucci     30th May 2022 ASX-listed Predictive Discovery is hoping to raise A$55-million through a share placement to institutional, sophisticated and professional investors to fund work at its Bankan gold project, in Guinea. The company on Monday said that it had received firm commitments for the share placement, which... 

Appian lodges $1.2bn compensation claim against Sibanye 

By: Mariaan Webb     30th May 2022 Private equity funds group Appian Capital Advisory has lodged a claim in the High Court of England and Wales seeking compensation from South Africa-based Sibanye-Stillwater, after the miner in January terminated a $1.2-billion transaction to buy Brazilian mining assets. Appian claimed that... 

Appian lodges $1.2bn compensation claim against Sibanye

Goldman says bull market in battery metals is finished for now

By: Bloomberg     30th May 2022 Goldman Sachs Group said the price of three key battery metals -- cobalt, lithium and nickel -- will drop over the next two years after investors wanting exposure to the green-energy transition piled in too quickly. “Investors are fully aware that battery metals will play a crucial role in the... 

Goldman says bull market in battery metals is finished for now

Glencore bribery cases draw in billionaire former executives 

By: Bloomberg     30th May 2022 The US corruption and market manipulation cases against Glencore include allegations about the conduct of two former executives who formed part of the inner circle of the trading house’s top management for over a decade -- and walked away as billionaires. The US government did not bring any... 

Merrick Garland, US attorney general, speaks during a news conference on the Foreign Corrupt Practices Act at the Department of Justice, in Washington, D.C., on Tuesday, May 24, 2022.
Merrick Garland, US attorney general, speaks during a news conference on the Foreign Corrupt Practices Act at the Department of Justice, in Washington, D.C., on Tuesday, May 24, 2022.

Uranium investors await price rally to revive Namibia projects

By: Bloomberg     30th May 2022 Namibia’s finance minister said uranium miners are waiting for prices to recover before reviving projects in Africa’s biggest producer of the ore, which is needed for nuclear power in a world shifting away from fossil fuels. The semi-arid southwest African nation is investing in water facilities... 

An image of the Rossing mine in Namibia
The Rossing uranium mine, in Namibia

G7 countries say strict environmental rules needed for deep-sea mining

By: Reuters     30th May 2022 The Group of Seven countries on Friday agreed stringent environmental controls should govern deep-sea mining and that they would consent to such mining projects only if they did not seriously harm the marine environment. "We determined that if there is deep-sea mining at all, it should only... 

Two more miners found dead in flooded Burkina Faso mine

By: Reuters     30th May 2022 The dead bodies of two more missing miners have been found at a zinc mine owned by Trevali Mining Corp in Burkina Faso that flooded last month, the government said on Saturday. The bodies of four of the eight missing miners were found earlier this week. Hopes of finding survivors vanished last... 

Aura deploys drill rig to Tiris, Mauritania

By: Darren Parker     27th May 2022 ASX- and Aim-listed Aura Energy has announced that a diamond drill rig has been mobilised from Mauritanian capital city Nouakchott to its 85%-owned Tiris uranium project to begin the 10 000 m infill drilling programme, with results expected in the fourth quarter.   The diamond drilling will... 

Hummingbird working to bring second asset into production following 2021 losses

By: Darren Parker     27th May 2022 Aim-listed Hummingbird Resources has reported a diluted loss a share of $2.78c for the financial year ended December 31, 2021, compared with the earnings a share of $5.02c reported for the 2020 financial year. Hummingbird currently has two core gold projects, the producing Yanfolila gold mine, in... 

Yanfolila gold mine in Mali
Yanfolila gold mine in Mali

Brikor posts net loss as bricks revenue rises but coal revenue falls

By: Schalk Burger     27th May 2022 JSE-listed bricks manufacturer and coal supplier Brikor, for the financial year ended February 28, reported the highest revenue in five years in its bricks segment, at R195.1-million. That represents a 34.6% year-on-year increase in revenue for the bricks segment. 

Northam completes R2.06bn note placement

By: Donna Slater     27th May 2022 As part of its R15-billion domestic medium-term note programme, JSE-listed platinum group metals miner Northam Platinum has completed a private placement of new domestic medium-term notes to the value of about R2.06-billion. The programme has thus far effectively extended the maturity of the... 

More arrests expected in corruption case against Gama and other ex-Transnet officials   

By: News24Wire      27th May 2022 Former Transnet CEO, Siyabonga Gama, who is among the five people accused of R93-million fraud and corruption in a case relating to the procurement of 1 064 locomotives by the State-owned freight rail company, was released on R50 000 bail following his arrest on Friday. Gama is facing charges... 

Former Transnet CEO Siyabonga Gama
Photo by Creamer Media
Former Transnet CEO Siyabonga Gama

Seriti wholeheartedly backs continued use of coal in energy mix 

By: Marleny Arnoldi     27th May 2022 Recent developments in the global energy landscape have seen a rise in environmental, social and governance pressures on coal and calls for an “all or nothing” approach to the long-term future of coal, which coal miner Seriti Resources CEO Mike Teke said is leaving many stakeholders confused. As... 

Seriti Resources CEO Mike Teke
Seriti Resources CEO Mike Teke

Barrick makes major Tanzania social, skills and infrastructure commitment

By: Creamer Media Reporter      27th May 2022 Canada-headquartered bullion major Barrick Gold on Friday announced that it would spend $6 for every ounce of gold sold by its two mines in Tanzania on improving healthcare, education, infrastructure and access to potable water in the surrounding communities. At the same time, the miner has... 

Bulyanhulu has been resuscitated as a long-life underground mine.
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