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Covid-19 News
Chip uncertainty causing PGMs price uncertainty – chief investment officer 
By: Martin Creamer 22nd September 2021 The general feeling is that chip capacity will slowly start coming back in the next few months, but only to return the auto industry back to where it was pre-Covid, and not to the post-Covid surge, which resulted in platinum group metals (PGMs) prices going through the roof. If the global auto... →
Cabinet endorses more ambitious carbon pledge ahead of Glasgow summit 
By: Terence Creamer 20th September 2021 Cabinet has approved a revised – and more ambitious – Nationally Determined Contribution (NDC) carbon mitigation target range for 2030 ahead of the upcoming COP26 gathering, which will take place in Glasgow, Scotland, in November. In a statement, Cabinet announced that South Africa had revised... →
Eskom plans to decommission 11 GW of coal by 2030
Rio rolls out vaccine clinics
By: Esmarie Iannucci 17th September 2021 Diversified miner Rio Tinto this week officially opened the Covid-19 vaccination clinic, in Tom Price, aimed at boosting vaccination rates in the Pilbara. The clinic has been set up in partnership with the Western Australian government, and will operate through to September 21, but would return... →
Pan African reports record profit, proposes highest ever dividend
By: Martin Creamer 15th September 2021 Gold mining company Pan African Resources on Wednesday reported record after-tax-profit, higher gold production and proposed its highest ever dividend. In the 12 months to June 30, the company, headed by CEO Cobus Loots, recorded a 12.4% increase in group gold production to 201 777 oz, a 36%... →
Platinum demand strengthening – WPIC
By: Martin Creamer 9th September 2021 Platinum demand appears to be strengthening on increased loadings, particularly in China’s strong-selling heavy-duty vehicles, more substitution of palladium by platinum, and greater investor interest, particularly with platinum’s links to the hydrogen economy. That is an overall outlook summary... →
WA unveils resources strategy
By: Esmarie Iannucci 7th September 2021 The resources sector has welcomed the Western Australian government’s release of its Resources Development Strategy, which outlined six priorities and focuses on policy to streamline approval processes, promote investment opportunities, and a commitment to continuing to support the successful... →
Implats contributes R13bn in taxes, royalties to South African government
By: Martin Creamer 2nd September 2021 Platinum group metals (PGMs) mining and marketing company Implats has contributed about R13-billion in taxes and royalties to the South African government for the 12 months to June 30, Implats CFO Meroonisha Kerber said on Thursday. In total, the participation in value of the government,... →
BHP mulling compulsory vaccinations in Australia
By: Esmarie Iannucci 31st August 2021 Diversified giant BHP on Tuesday said that it was assessing vaccination against Covid-19 as a condition of entry into the company’s workplaces in Australia. BHP President Minerals Australia Edgar Basto said that the company was continually reviewing the status and effectiveness of Covid-19... →
Harmony profits 66% up on 26% higher production
By: Martin Creamer 31st August 2021 Gold mining company Harmony Gold on Tuesday reported a 66% increase in profits to R12-billion for the 12 months to June 30. The Johannesburg- and New York-listed company, headed by CEO Peter Steenkamp, increased gold production in the period to a 26%-higher 1 535 352 oz. →
Covid delays Jervois studies
By: Esmarie Iannucci 27th August 2021 Junior KGL Resources is targeting a final investment decision on its Jervois copper project, in the Northern Territory, by the first quarter of 2022, after having to extend the timeline for the feasibility study (FS). “The industry-wide shortage of drill rigs and drill rig crews, together with... →
Sibanye-Stillwater shoots lights out with super record performance
By: Martin Creamer 26th August 2021 Precious metals mining company Sibanye-Stillwater on Thursday delivered another record financial performance for the six months ended June 30. The JSE- and New York-listed company headed by Neal Froneman reported significantly higher production year-on-year from the South African platinum group... →
Sibanye-Stillwater CEO Neal Froneman
New Elk resumes full production
By: Esmarie Iannucci 26th August 2021 Coal miner Allegiance Coal has resumed full operations at its New Elk mine, in Colorado. The miner earlier this month reduced production rates at the coal mine after three cases of Covid-19 were reported at the site. →
With Richards Bay Minerals operations resuming is there still hope for Zulti South?
By: Martin Creamer 24th August 2021 Diversified mining company Rio Tinto announced on Tuesday that it had commenced the process of restarting operations at Richards Bay Minerals, in KwaZulu-Natal. This follows a stabilisation of the security situation around the mine, supported by the national and provincial government, as well as... →
OceanaGold suspends mining in NZ
By: Esmarie Iannucci 24th August 2021 Dual-listed gold miner OceanaGold has temporarily suspended operations at its Macreas and Waihi operations, in New Zealand, as the government implements a country-wide lockdown. The company started suspending activities at the two mine sites on August 16, and based on government updates, said... →
South African mines join effort to temper next coronavirus wave
By: Bloomberg 20th August 2021 Outside Anglo American Platinum's Tumela mine shaft, about 25 workers, many still in the overalls and hard hats they wore on their shift, sit patiently waiting for their coronavirus vaccines while vervet monkeys scamper over the roofs of nearby steel storage containers. They then file into a room... →
Vedanta vaccinates 450 people
By: Marleny Arnoldi 19th August 2021 Vedanta Zinc International has hosted two mass Covid-19 vaccination drives in Aggeneys, in the Northern Cape, near its zinc operations. The first vaccination drive was to celebrate Mandela Day, which occurs yearly on July 18, followed by a three-day follow-up drive to ensure a wider reach. →
Gold Fields' half-year earnings up 33%, interim dividend lifted
By: Martin Creamer 19th August 2021 Gold mining company Gold Fields on Thursday announced 33% higher normalised half-year earnings to $431-million, which has opened the way for the declaration of an increased interim dividend. In line with its policy of paying between 25% and 35% of normalised profit as dividends, the... →
Rio to open pop-up vaccination clinics for FIFO workers
By: Esmarie Iannucci 19th August 2021 Diversified miner Rio Tinto and the Western Australian government have joined forces to vaccinate communities in the Pilbara and the fly-in fly-out (FIFO) workforce. Rio on Thursday announced that vaccination hubs would be established in the Pilbara and at a trial clinic at Perth Airport to make... →
Resources Watch
18th August 2021 This week: Exxaro ups coal volume at risk owing to Transnet challenges to three-million tonnes; Coal miner Exxaro to spell out decarbonisation strategy on Sept 20; and, Up to 450 MW for cleaner, greener ferrochrome envisaged →
Covid reported at Allegiance's New Elk mine
By: Esmarie Iannucci 16th August 2021 Production at the New Elk coal mine, in Colorado, is continuing, albeit at a reduced pace, said ASX-listed Allegiance Coal. The miner on Monday confirmed that three cases of Covid-19 had been reported at the site, where two production units were currently operating. →
Exxaro ups coal volume at risk owing to Transnet challenges to three-million tonnes
By: Martin Creamer 12th August 2021 Based on current performance, coal-mining company Exxaro has upped the second half of the year volume of coal at delivery risk, owing the ongoing Transnet Freight Rail (TFR) challenges, to three-million tonnes. “Previously we have highlighted what we believe will be the amount of volumes that... →
Coal miner Exxaro to spell out decarbonisation strategy on Sept 20
By: Martin Creamer 12th August 2021 The investment by diversified coal, energy and ferrous resources group Exxaro Resources in the renewable energy company Cennergi will further support the company’s decarbonisation strategy, Exxaro CEO Mxolisi Mgojo said when the JSE-listed company reported sterling half-year financial results... →
Merafe’s ferrochrome earnings rocket on strong demand, dividend declared
By: Martin Creamer 10th August 2021 Ferrochrome company Merafe on Tuesday reported an after-tax profit of R576-million in the six months to June 30 compared with a loss of R961-million in the prior comparative period. Half-year ferrochrome production rose 66% to 199 000 t, revenue rose 60% to R3 746-million and earnings before... →
Qld FIFO workers to get vaccinated
By: Esmarie Iannucci 9th August 2021 The Queensland Resources Council (QRC) has welcomed a decision by the state’s Chief Health Officer’s (CHO) to approve vaccinations for fly-in, fly-out (FIFO) and drive-in, drive-out (DIDO) workers, in a move designed to increase protection for regional communities from the more infectious Delta... →
Australia resource exports deliver new record
By: Esmarie Iannucci 5th August 2021 The Australian Bureau of Statistics (ABS) on Thursday announced a trade surplus of A$10.4-billion in June, up A$1.2-billion on the surplus recorded for May, while the resources sector has set new records for total export value and a range of mineral commodities in the 2020/21 financial year.... →
RBPlat CEO Steve Phiri sees PGMs market remaining strong
By: Martin Creamer 4th August 2021 Royal Bafokeng Platinum (RBPlat) CEO Steve Phiri sees the market for platinum group metals (PGMs) remaining strong for many years to come. In a Zoom interview with Mining Weekly following the JSE-listed PGM mining company’s presentation of outstanding record financial results, Phiri outlined the... →
Fortescue's Cloudbreak faces Covid
By: Esmarie Iannucci 4th August 2021 Iron-ore major Fortescue Metals has urged for greater vaccination uptake after a maintenance contractor at its Cloudbreak site, in the Pilbara, tested positive for Covid-19. The Western Australian Department of Health on Wednesday informed the miner that the contractor returned a weak positive... →
Rhodium again top performer in RBPlat’s revenue basket
By: Martin Creamer 3rd August 2021 Rhodium was once again the top performer in the revenue basket for platinum group metals (PGMs) mining company Royal Bafokeng Platinum (RBPlat), the revenue of which was up 108.1% to R9 584.3-million in the six months to June 30. The average rhodium price for the period increased threefold to $25... →
RBPlat declares R1.5bn dividend on record first-half performance
By: Martin Creamer 3rd August 2021 Platinum group metals (PGM) mining company Royal Bafokeng Platinum (RBPlat) has declared a R1.5 billion interim dividend in addition to the R482.3 million buy-back and redemption of a portion of its convertible bonds on the back of a record performance in the six months to June 30. RBPlat... →
RBPlat CEO Steve Phiri
Ongoing decline in Eskom’s coal performance drove another ‘intensive’ period of load-shedding in first half of 2021
By: Terence Creamer 2nd August 2021 A continuing decline in the performance of the Eskom coal fleet drove yet another “intensive” period of load-shedding in South Africa during the first six months of 2021, when rotational power cuts were implemented for 650 hours, or 15% of the time. A new Council for Scientific and Industrial... →
De Beers bounces back to 2019 levels with outstanding performance
By: Martin Creamer 29th July 2021 Global consumer demand for diamonds continued to recover from the impact of Covid, supported by fiscal stimulus in the US and the roll-out of vaccines, De Beers Group said on Thursday when it was credited with helping Anglo American to achieve an all-time record half-year, a period in which De... →
World-beating Anglo reports record half-year earnings of $12.1bn
By: Martin Creamer 29th July 2021 Diversified mining company Anglo American on Thursday reported a record half-year financial performance in its position as the best of the world’s top-five global mining companies. Anglo calculates that its elevated global position is poised to continue, assisted by its superior depth, breadth... →
Tax from ‘resilient’ mining sector underpins R38.9bn post-riot relief package
By: Terence Creamer 28th July 2021 Tax revenues from South Africa’s high-flying mining industry have provided the financial underpin for a new R38.9-billion relief package unveiled by Finance Minister Tito Mboweni on Wednesday to support businesses devastated by recent looting and property destruction and to provide ongoing relief... →
Glencore starts vaccinating South African staff
By: Marleny Arnoldi 28th July 2021 Diversified miner Glencore Operations South Africa has started vaccinating its staff members who are 50 years and older. The company has already managed to reach hundreds of employees with its vaccine rollout, which started on the morning of July 12, at the Waterval East mine, near Rustenburg. →
Work on Isaac Downs to start next month
By: Esmarie Iannucci 28th July 2021 Construction on the A$82-million extension of the Isaac Plains metallurgical coal mine, in Queensland, is expected to start next month. Resources Minister Scott Stewart on Wednesday announced the final government approvals and go-ahead for Isaac Downs mine, a third mine on the Isaac Plains... →
Exxaro rolls out vaccination drive at Matla mine
By: Schalk Burger 27th July 2021 Diversified miner Exxaro Resources has launched a Covid-19 vaccination rollout programme at its Matla coal mine, in Mpumalanga. The launch of the rollout programme is part of a national campaign under the auspices of Department of Health and in partnership with the Mpumalanga Department of Health... →
Exuberant Kumba Iron Ore’s stakeholders receive R51bn shared value boost
By: Martin Creamer 27th July 2021 Anglo American group iron-ore mining company Kumba Iron Ore, which has achieved record half-year earnings with great exuberance, has shared a sky-high first-half R51-billion with its spread of stakeholders that take in the fiscus, local suppliers, nearby communities, employees, shareholders and... →
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