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Diversified Miners News
ESG slowing down as energy transition highlights mining as indispensable – RMF 
By: Martin Creamer 2nd March 2022 The energy transition is highlighting mining as an indispensable industry, said Responsible Mining Foundation (RMF) CEO Hélène Piaget in opening a webinar on 'Responsible Mining Index (RMI) Report 2022', which reports a slowdown in economic, environmental, social and governance (ESG). “Yet there... →
Resources Watch
2nd March 2022 This week: Platinum group metals may also play role in batteries; Kumba CEO gives firm thumbs up to continued exploration in prospective Northern Cape; and, De Beers Group posts stunning financial results →
ICMM publishes new tools to manage social performance
By: Marleny Arnoldi 1st March 2022 The International Council on Mining and Metals (ICMM) has published a set of practical tools to strengthen approaches to managing social performance within mining companies. These tools have been designed to support companies to strengthen these capabilities and to build and maintain positive... →
Teck CEO a ‘big believer’ in Chile as mining jurisdiction
By: Mariaan Webb 1st March 2022 Canadian diversified miner Teck Resources is studying further copper expansions beyond Phase 2 of its Quebrada Blanca (QB) mine and says is up to Chile, which is considering new tax and royalty structures, to offer an attractive investment environment. CEO Don Lindsay said on a conference call... →
Rio Tinto settles with Australian watchdog on Mozambique disclosure breach 
By: Reuters 28th February 2022 Rio Tinto has agreed to pay a small penalty for overstating its Mozambique coal reserves in 2012 in return for the Australian corporate watchdog dropping charges against its top two executives at the time, the Australian Securities and Investment Commission (ASIC) said on Monday. The settlement... →
Congo seals deal with Israeli billionaire to recover assets
By: Bloomberg 28th February 2022 A company controlled by sanctioned Israeli billionaire Dan Gertler will return mining and oil assets to the Democratic Republic of Congo, the government said. The deal “puts an end to the legal disputes” between Congo’s government and Gertler’s Ventora Group, the presidency said on its Twitter... →
Vale to pay $46m for failing to meet deadline to remove tailings dams
By: Reuters 28th February 2022 Vale on Friday will sign an agreement with local authorities requiring the Brazilian miner to pay 236.7-million reais ($46-million) for failing to meet a legal deadline to decommission its tailings dams in the state of Minas Gerais, a document seen by Reuters showed. The deadline, which expired... →
South32 joins Australian space consortium
By: Esmarie Iannucci 28th February 2022 Diversified miner South32 has joined Australia’s space race, becoming the latest sponsor of the Australian Remote Operations for Space and Earth (AROSE) consortium, which is working on the Lunar Service Rover feasibility study for the Australian Space Agency. The rover is being designed to... →
Kumba exploration, PGMs in batteries and Anglo's record financial year make headlines
25th February 2022 Mining Weekly Editor Martin Creamer unpacks Kumba Iron Ore's continued exploration in the Northern Cape under new CEO Mpumi Zikalala; Platinum Group Metals playing a role in batteries; and Anglo American's record financial year, under the stewardship of Mark Cutifani. →
Provider aims to create Namibian footprint
By: Anna Moross 25th February 2022 Mining sector training courses help to ensure increased safety, efficiency and productivity in the mining environment, and mining sector specialist training solutions company Prisma aims to launch itself in the Namibian mining industry this year, says Prisma MD Jacques Farmer. →
Anglo posts record full-year Ebitda of $20.6bn
By: Marleny Arnoldi 24th February 2022 Global diversified miner Anglo American has posted a profit attributable to equity shareholders of $8.6-billion for the 2021 financial year after recording solid performances across assets and with strong support from commodity prices. Underlying earnings before interest, taxes, depreciation... →
Anglo American outgoing CEO Mark Cutifani
High copper prices help Canada's Teck beat profit views
By: Reuters 24th February 2022 Canadian miner Teck Resources reported a better-than expected fourth-quarter profit on Thursday, driven by higher prices for copper and steelmaking coal. Demand for copper and coal has risen as global economies recover further from pandemic lows. Copper prices rose 25% in 2021, also boosted by... →
Resources Watch
23rd February 2022 This week: DRDGold building initial 20 MW solar, 100 MW storage at Ergo gold operation; DRDGold has 41 programmes to take mine communities out of poverty; and, It’s records all round for Glencore in ‘terrific’ 2021 →
Mining industry progressing with energy transition to zero-emissions mines
By: Schalk Burger 23rd February 2022 Energy and mining industry experts this week detailed how the mining industry is grappling with the technical challenges of transitioning existing, and preparing new, operations to become more efficient and integrating renewable energy sources to, eventually, facilitate net-zero emissions from... →
Rio Tinto posts bumper year
By: Esmarie Iannucci 23rd February 2022 Diversified giant Rio Tinto has reported record results for the 2021 financial year, with a 116% surge in aftertax profit. "Our people have continued to safely run our world-class assets and are working hard to improve our operational performance, despite challenging operating conditions from... →
African miners aggressively pursuing decarbonisation
By: Tasneem Bulbulia 22nd February 2022 Mining companies are aggressively pursuing decarbonisation at their operations, with a myriad of different strategies, and varying timelines across the spectrum of miners, but with the same end-goal of reducing carbon emissions and ultimately achieving net-zero operations. This was indicated by... →
Rio commits to a future at Tasmanian aluminium smelter
By: Esmarie Iannucci 21st February 2022 Diversified miner Rio Tinto will partner with the Tasmanian government to jointly investigate how the Bell Bay aluminium smelter’s manufacturing capability and electricity demand could support the development of new industries and renewable industry in the region. Under a memorandum of... →
Survey places ESG at top of miners' minds
By: Esmarie Iannucci 18th February 2022 A survey by law global firm White & Case has identified environmental and social governance (ESG), resource nationalisation and climate change regulation and shareholder activism as top concerns for 2022. “The mining industry has found itself caught between two competing themes when it comes to... →
Poverty alleviation programmes, red tape delays, Mantashe pushing renewables make headlines
18th February 2022 Mining Weekly Editor Martin Creamer unpacks DRDGold’s programmes aimed at reducing poverty in mining communities; Minerals Council South Africa notes that red tape is holding up R90-billion worth of protects that are ready to go; and Gwede Mantashe has uncharacteristically touted renewables as a... →
Exxaro commits R1.5m for food gardens at three community institutions
By: Marleny Arnoldi 18th February 2022 Although the fourth wave of Covid-19 infections has eased in South Africa, JSE-listed diversified miner Exxaro Resources continues to assist communities surrounding its operations to overcome the socioeconomic impacts brought about by the pandemic. The company has a partnership with... →
No one-size-fits-all for mine decarbonisation – engineering firm
By: Nadine Ramdass 18th February 2022 Mining operations are energy intensive, with energy representing one of the sector’s biggest operational costs. Fossil fuels remain the primary feedstock, which leaves miners exposed to volatile gas, oil and coal prices. Consequently, an overarching challenge is decarbonisation, explains... →
Hybrid solutions can be more affordable – firm
18th February 2022 Globally, mining is well-known as an energy-intensive sector, a situation that is further aggravated by a heavy reliance on fossil fuels, explains consulting firm Economic Development Solutions MD Janine Espin. She elaborates that there is an increasing global urgency to shift toward... →
South32 reports stellar first half, advances work at Hermosa
By: Esmarie Iannucci 17th February 2022 Diversified miner South32 has reported a 1 847% increase in profits after tax for the half-year ended December, along with record operating margins. Profits after tax for the first half of 2022 reached $1.03-billion, up from the $53-million reported in the first half of 2021, with underlying... →
Glencore sells stake in Russia's Russneft to cap 20-year partnership
By: Reuters 16th February 2022 Glencore has sold out of Russneft, capping two decades of investments which saw the Swiss commodities firm trading millions of barrels of the Russian group's oil even as it witnessed some of Russia's top corporate and political battles. The sale, which has been years in the works since Glencore... →
Teck pilots fully electric on-highway truck to haul copper
By: Creamer Media Reporter 15th February 2022 Canadian mining group Teck Resources on Tuesday announced the pilot of a fully electric on-highway transport truck to haul copper concentrate, marking what it says is the first use of a battery-electric truck to haul copper concentrate worldwide. The truck would travel between Teck’s Highland... →
It’s records all round for Glencore in ‘terrific’ 2021
By: Martin Creamer 15th February 2022 2021 was a terrific year for the company, Glencore CEO Gary Nagle said on Tuesday, when he reported record earnings before interest tax depreciation and amortisation (Ebitda) of $21.3-billion, a record marketing performance Ebit of $3.7-bilion, and a record industrial business performance of... →
New training material to support continual improvement in tailings management
By: Tasneem Bulbulia 15th February 2022 International organisation the International Council on Mining and Metals (ICMM) has published training material based on the ICMM Tailings Management: Good Practice Guide, designed to be used by tailings professionals to educate wider site-based staff and executives to improve awareness of the... →
Glencore’s earnings rocket 84% to $21.3bn
By: Martin Creamer 15th February 2022 Diversified mining and marketing company Glencore on Tuesday announced 84% higher financial results for the year, with earnings before interest tax depreciation and amortisation (Ebitda) rising to $21.3-billion. Looking forward, Glencore CEO Gary Nagle said the company remained focused on its... →
Commodity prices drive BHP profits up
By: Esmarie Iannucci 15th February 2022 Diversified miner BHP has reported a 50% increase in profit for the half-year ended December, amid higher commodity prices, but has warned of cost increases in the near future. Profit from operations for the half-year reached $14.8-billion, while underlying earnings before interest, taxes,... →
West Africa a fly in BHP's iron-ore ointment
By: Esmarie Iannucci 15th February 2022 Mining giant BHP is keeping an eye on the cost of iron-ore production as competition emerges from West Africa. Iron-ore prices declined in the first half of 2022 as China’s steel production curbs took hold, while seaborne supply improved. →
Minerals Council reaffirms zero tolerance of GBVF following Rio Tinto report
By: Tasneem Bulbulia 14th February 2022 Industry organisation the Minerals Council South Africa has recommitted to zero tolerance of gender-based violence and femicide (GBVF), sexism, racism and bullying in the mining industry, after noting the release of a report by diversified global miner Rio Tinto exposing these problems across its... →
Red tape delaying R90bn investment in ready-to-go projects – Minerals Council
By: Martin Creamer 14th February 2022 Red tape is delaying investment worth R90-billion in ready-to-go mining-related projects, at a time when the South African economy is in desperate need of such projects proceeding, to create jobs and to stimulate economic growth. Projects worth R30-billion would be able to proceed if the 4... →
Increased capacity on the cards for Maputo, Matola drybulk terminals
By: Tasneem Bulbulia 14th February 2022 JSE-listed Grindrod’s sub-concessioned facilities, the Maputo and Matola Drybulk Terminals, are considering the expansion of their respective footprints, the Maputo Port Development Company revealed in a statement on February 14. Grindrod operates a facility in the Maputo main port known as... →
Rio strikes deal with Traditional Owners over Western Range
By: Esmarie Iannucci 14th February 2022 Diversified miner Rio Tinto has reached an agreement with the Yinhawangka Aboriginal Corporation (YAC) on a new co-designed management plan to ensure the protection of significant social and cultural heritage values as part of the proposed development of the Western Range iron-ore project in the... →
Rio joins the space race
By: Esmarie Iannucci 14th February 2022 Major Rio Tinto has joined the Australian Remote Operations for Space and Earth (AROSE) consortium, a not-for-profit, industry-led consortium with a vision for Australia to be the trusted leader of remote operations on Earth and in space. The ever-expanding consortium includes organisations from... →
New Rio Tinto chairman to weigh CEO's future amid toxic culture crisis - sources
By: Reuters 11th February 2022 The incoming chairperson of Rio Tinto will review the position of CEO Jakob Stausholm to determine whether he is suitable to lead an overhaul of the company's toxic work culture, two people familiar with the matter said. Dominic Barton, a former diplomat who takes up the role of chairman in May,... →
Green hydrogen strategy supporting development of R270bn Northern Cape pipeline
By: Martin Creamer 11th February 2022 Over the past year, the South African government has built on its successful hydrogen strategy to make major strides in positioning the country as a global leader in the green hydrogen market, President Cyril Ramaphosa stated during his State of the Nation Address. This positioning included the... →
New jobs, Glencore, climate change liability make headlines
11th February 2022 This week Mining Weekly Editor Martin Creamer talks about the just energy transition providing South Africa with significant opportunities for new jobs; Glencore’s new global marketing relationship with United States Strategic Metals; and Webber Wentzel's warning that mining and energy directors... →
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