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First Quantum seeks to speed up Peru projects after Panama debacle
First Quantum seeks to speed up Peru projects after Panama debacle
23rd May 2024 By: Reuters

Canadian miner First Quantum Minerals, which lost the right to operate its copper mine in Panama last year following protests by environmental groups and a court ruling deeming its contract void, is seeking to speed its copper projects in Peru, a... 


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Faraday Copper raises C$20m
23rd May 2024 By: Creamer Media Reporter

Canadian company Faraday Copper on Wednesday announced a C$20-million bought-deal financing to advance the exploration and development of its Copper Creek project, in Arizona, US. Faraday entered... 


Hudbay upsizes bought-deal offering
23rd May 2024 By: Creamer Media Reporter

Base metals company Hudbay Minerals has increased the size of its previously announced equity offering from $300-million to $350-million. Underwriters will now buy 36.84-million shares at $9.50... 


Sayona kicks off drilling at 'highly prospective' Tabba Tabba
Sayona kicks off drilling at 'highly prospective' Tabba Tabba
23rd May 2024 By: Creamer Media Reporter

North American lithium producer Sayona Mining has initiated reverse circulation (RC) drilling at its Tabba Tabba project, in Western Australia, where previous air core drilling identified potential... 


Metallica puts Cape Flattery development works on hold amid takeover
Metallica puts Cape Flattery development works on hold amid takeover
23rd May 2024 By: Mariaan Webb

Takeover target Metallica Minerals has suspended the majority of the planned project development works at its Cape Flattery silica project, in Queensland, citing the unsolicited, offmarket takeover... 


Enviro thumbs-up for Image’s mineral sands mine
23rd May 2024 By: Creamer Media Reporter

The Atlas mineral sands project, north of Perth in Western Australia, has received environmental approval, ASX-listed Image Resources reported on Thursday. The approval from Energy, Environment... 


Lexington confirms gold mineralisation extends beyond historical drill sites at Bothaville
23rd May 2024 By: Marleny Arnoldi

Aim-listed Lexington Gold has completed 2 355 m of drilling at the Bothaville project, in South Africa’s Free State province, which proves the concept of A-Reef channels occurring on the site.... 


AngloGold inks Tanzania farm-in deal with EcoGraf
23rd May 2024 By: Creamer Media Reporter

Gold mining company AngloGold Ashanti has signed a $9-million, five-year farm-in agreement with ASX-listed junior EcoGraf for the exploration of gold at the Golden Eagle project, in Tanzania.... 


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madison drilling campaign at Khan
Madison begins drilling at Namibian uranium project
23rd May 2024 By: Darren Parker

Toronto-based Madison Metals has started its maiden 2024 drill programme at the Khan project at Madison West in Namibia’s Erongo uranium province.  In April, the company announced that it had... 


Russia's Nornickel board proposes no dividend for 2023 results
23rd May 2024 By: Reuters

The board of Russian metals and mining giant Nornickel recommended no dividend on its 2023 results, a year when the company faced significant pressure from sanctions restrictions and geopolitical... 


Activist investor asks Rio Tinto to give up London listing, FT reports
23rd May 2024 By: Reuters

A UK-based activist investor has called for Rio Tinto to abandon its London listing and unify its corporate structure in Australia instead, the Financial Times reported on Thursday. Palliser... 


Pakistan coal miners face expansion issue as China stops funding
Pakistan coal miners face expansion issue as China stops funding
23rd May 2024 By: Bloomberg

Chinese and other major lenders are increasingly reluctant to invest in Pakistan’s expansion of coal mines, according to the head of a local producer. “The real challenge for us is financing,”... 


Hugo Pienaar.
Green hydrogen must be allowed to decarbonise optimally, Junior Indaba hears
23rd May 2024 By: Martin Creamer

Green hydrogen must be made cheap enough to decarbonise optimally at a time when the delay in emission reduction needs to be reversed if the world is to hit net zero by 2050. A range of factors... 


Speakers who participated in a Mine Water webinar hosted by Creamer Media.
Speakers highlight focus areas to tackle mine water challenges
23rd May 2024 By: Tasneem Bulbulia

South Africa has made considerable strides in addressing mine water challenges; however, it is imperative that these efforts are bolstered and improved upon, through aligning research with... 


Tharisa mine
PGM prices impact on Tharisa’s first-half profit, but market fundamentals are ‘solid’
23rd May 2024 By: Marleny Arnoldi

JSE-listed platinum group metals (PGM) and chrome producer Tharisa has reported a 20% year-on-year decrease in net profit after tax, at $38.8-million, for the six months ended March 31, compared... 


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Zimbabwe state miner says lithium assets attract investors
23rd May 2024 By: Bloomberg

Zimbabwe’s state-owned miner Kuvimba Resources said its lithium assets are attracting potential investors from both China and other countries. Kuvimba has identified a lithium ore resource of 38... 


Cullinan diamond mine
Petra signs PPAs to procure wheeled renewable energy for Cullinan, Finsch
23rd May 2024 By: Darren Parker

Diamond producer Petra Diamonds has entered into long-term power purchase agreements (PPAs) for the procurement of wheeled renewable energy for its Cullinan and Finsch diamond mines from licenced... 


Botswana Diamonds chairperson John Teeling
Botswana Diamonds expands its land holdings in the Kalahari
23rd May 2024 By: Chanel de Bruyn

Diamond exploration company Botswana Diamonds has been granted four prospecting licences – covering just under 2 332 km2 – in the Kalahari of Botswana. The prospecting licences are in the same... 


Graham Kerr says South32 is open to increasing its exposure in Southern Africa.
South32's CEO says open to buying joint Anglo manganese assets
23rd May 2024 By: Reuters

Australian diversified miner South32 is open to buying Anglo American's share of two manganese operations the companies jointly own, should they come for sale at the right price, CEO Graham Kerr... 


Ruins of the Panguna mine that ceased operations in 1989.
Rio Tinto and Bougainville Copper face class action over mine impact
23rd May 2024 By: Mariaan Webb

Miners Rio Tinto and Bougainville Copper (BCL) on Thursday confirmed that class action had been initiated against the companies in Papua New Guinea’s national court. The action, brought forth on... 


The Eraring power station will remain open until August 2027
Eraring coal plant closure delayed by two years
23rd May 2024 By: Bloomberg

Origin Energy will delay the closure of Australia’s largest coal-fired power station amid concerns renewable energy isn’t being added fast enough to keep pace with plans to quit fossil fuels. The... 


BHP shares fall after Anglo American rejects proposal
BHP shares fall after Anglo American rejects proposal
23rd May 2024 By: Reuters

Shares of Australia's BHP Group fell over 3% on Thursday, a day after smaller rival Anglo American rejected its third takeover proposal and agreed to a one-week extension for the deadline to make a... 


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Magazine

Magazine round up | 10 May 2024
Magazine round up | 17 May 2024

A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

SUBSIDY REINSTATED: The International Monetary Fund (IMF) estimates that the reintroduction of a gasoline subsidy in Nigeria could consume almost half of the country’s projected oil revenue this year. President Bola Tinubu halted the subsidy at in mid-2023 to help government repair its finances. However, the removal and a devaluation of the naira, led fuel prices to more than triple, fanning inflation and protests. The IMF said it expects the fuel subsidy to be phased out within two years, as a cash-transfer programme was implemented to cushion poor consumers. Photograph: Bloomberg
SUBSIDY REINSTATED

The International Monetary Fund (IMF) estimates that the reintroduction of a gasoline subsidy in Nigeria could consume almost half of the country’s projected oil revenue this year. President Bola... 

Photo of Martin Creamer
Green energy collaboration a must to reindustrialise South Africa

The industrialisation that South Arica has lost in the last few decades can be more than regained by the country collaborating fully when it comes to green electrons, green molecules and the new... 

Photo of Terence Creamer
Unintended consequences?

It is highly unlikely that South Africa would have made the progress it has in stabilising electricity supply and setting in place initiatives to halt the collapse of the country’s... 

Business Leader

 	Mike Benfield, Group CEO of Macsteel Service Centres South Africa
Mike Benfield

This week we profile Mike Benfield, Group CEO of Macsteel Service Centres South Africa, a merchandiser and distributor of steel and value-added steel products 



DEVASTATING: The deadly collapse of a building in George while under construction is simply devastating for the families of the workers who perished. It has also raised a number of questions about the state – including the state of safety – of South Africa’s building and construction industry. The industry today is almost unrecognisable from what it was before so many of the country’s listed building majors either closed due to financial distress or exited the sector.
DEVASTATING

The deadly collapse of a building in George while under construction is simply devastating for the families of the workers who perished. It has also raised a number of questions about the state –... 

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