R/€ = 17.34 Change: -0.04
R/$ = 14.59 Change: -0.03
Au 1814.19 $/oz Change: -1.17
Pt 1051.85 $/oz Change: -26.65

Europe News

Anglo working towards collaborative decarbonised energy advance across South Africa  

By: Martin Creamer     30th July 2021 Anglo American, which will have all of its South American operations on renewable energy by the end of next year, is working towards trying to achieve a collaborative multi-company government- and Eskom-linked decarbonised energy advance across South Africa. Speaking to Mining Weekly in a Zoom... 

Thor pours first gold in Nigeria

By: Marleny Arnoldi     30th July 2021 TSX-V- and Aim-listed Thor Explorations has poured the first gold at its Segilola project, in Nigeria. The process plant will now be ramped up over the next six weeks, with commercial production expected from September.  

Sylvania appoints Adrian Reynolds to board

By: Tasneem Bulbulia     30th July 2021 Aim-listed Sylvania Platinum has appointed Adrian Reynolds as independent nonexecutive director, with effect from August 1. Reynolds has over 40 years' experience in the mining and minerals industry. 

Glencore lowers full-year coal, nickel output guidance

By: Marleny Arnoldi     30th July 2021 Diversified miner Glencore expects to meet the $3.2-billion top end of its full-year earnings before interest and taxes guidance owing to a strong performance from the company’s marketing business. This was despite the company reporting only modest increases year-on-year in copper production,... 

Glencore's Koniambo operation, in New Caledonia
Glencore's Koniambo operation, in New Caledonia

Russia mulls pegging tax on mining firms to global metals prices - Interfax

By: Reuters     30th July 2021 Russia is considering pegging a mineral extraction tax (MET) levied on its metals producers to the global price of their products from 2022, the Interfax news agency reported on Friday, citing Deputy Finance Minister Alexei Sazanov. Moscow has been trying to protect its defence and construction... 

Sibanye advances battery metals strategy with acquisition of French nickel refinery  

By: Marleny Arnoldi     30th July 2021 Precious metals miner Sibanye-Stillwater has taken the next step in expanding its footprint in the battery metals sector by entering into an exclusive put option agreement with French mining group Eramet to acquire the Sandouville nickel hydrometallurgical processing facility, in France, for... 

Nickel ore

Yamana to expand Jacobina at fraction of original capital estimate

By: Mariaan Webb     30th July 2021 Canadian gold miner Yamana Gold has significantly lowered the capital expenditure (capex) estimate for the expansion of its Jacobina mine, in Brazil, with the project now expected to cost no more than $15-million to $20-million. This is significantly lower than the original estimate of... 

An image showing a person holding a gold bar.

Gupta pays $25m to end long-running spat with Rio Tinto

By: Bloomberg     30th July 2021 Sanjeev Gupta has paid $25-million to Rio Tinto Group to settle a long-running dispute over the final payment for an aluminum smelter he bought from the mining giant in 2018. The deal was disclosed in the financial accounts of one of Gupta’s holding companies for the smelter, which stated that a... 

An image of Sanjeev Gupta
Sanjeev Gupta

Anglo on trajectory towards becoming minerals solutions provider  

By: Martin Creamer     29th July 2021 Diversified mining and marketing company Anglo American, which shot the lights out on Thursday with the presentation of an all-time record set of half-year results, is on its way to becoming a minerals solutions provider rather than a digger of holes. The London- and Johannesburg-listed Anglo is... 

Picture for presentation of results July 2021
Anglo American results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

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... 

Picture used with video interview of De Beers CFO
De Beers Group CFO Sarah Kuijlaars interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Alrosa invests 8% of revenue on ESG

By: Creamer Media Reporter      29th July 2021 Russia’s Alrosa has invested 15.8-billion ruble ($216-million) in social and environmental initiatives in 2020. “The company retained its leadership position for ESG investments in the diamond industry in 2020, contributing around 8% of our total revenue,” says CEO Sergey Ivanov. 

New CEO to lead North Wales copper/zinc mine to production

By: Mariaan Webb     29th July 2021 London-listed Anglesey Mining, which is developing a copper/zinc deposit in North Wales, has appointed a new CEO, who will be tasked with moving the Parys Mountain project towards production and raising the funds needed to do so. The company on Thursday announced the appointed of Jo Battershill... 

A drilling rig operating in North Wales

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... 

Picture from Anglo American
Anglo American CEO Mark Cutifani

Consumer demand for gold returning – WGC 

By: Donna Slater     29th July 2021 Despite dampened investor demand, gold investment increased in the second quarter of this year as a result of consumer investment into the commodity, with demand of 955.1 t – a 9% rise from the first quarter, the World Gold Council (WGC) reports. The WGC’s latest ‘Gold Demand Trends’ report,... 

A gold pour at Elikhulu mine
World Gold Council market intelligence manager Krishan Gopaul discusses gold’s performance in the second quarter of this year

Power Metal exercises option to acquire Tati gold/nickel project in Botswana

By: Tasneem Bulbulia     28th July 2021 Aim-listed Power Metal Resources has exercised its option to acquire a 100% interest in two gold/nickel exploration licences located within the Tati Greenstone Belt, near Francistown, Botswana, through its local wholly owned operating subsidiary Power Metal Resources Botswana. "The Tati... 

Computing, food tech among many new PGM opportunity areas ­– Anglo Platinum  

By: Martin Creamer     28th July 2021 The computing world is an opportunity area for platinum group metals (PGMs), along with food technology, alloy development, medical advance, waste control, battery and storage  – and that is on top of the now much-celebrated and pervasive green hydrogen feedstock phenomenon. JSE-listed Anglo... 

Picture of Natascha Viljoen from Creamer Media files.
Anglo American Platinum CEO Natascha Viljoen interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Caledonia highlights 99% local employment in ESG report

By: Marleny Arnoldi     28th July 2021 In its inaugural environment, social and governance (ESG) report covering its 2020 operational performance at its Blanket mine, in Zimbabwe, London-listed Caledonia Mining Corporation has highlighted some of its key achievements. These include that 99% of its 1 671 employees and contractors... 

Papillon plans to also list on the Nairobi Securities Exchange

By: Tasneem Bulbulia     28th July 2021 Papillon Holdings, which will be renamed Caracal Gold, has appointed Kenya-based Faida Investment Bank as its financial adviser and joint broker, in relation to a proposed listing of the company on the Nairobi Securities Exchange (NSE). This follows the publication of its prospectus on July 20... 

Bluejay to sell Finnish assets to dedicated battery metals firm

By: Mariaan Webb     28th July 2021 Greenland-focused explorer and developer Bluejay Mining has announced the proposed sale of two projects in Finland to a dedicated battery metals group in which it will become a significant shareholder. Bluejay has signed a binding term-sheet and entered into a conditional agreement for the sale... 

Petra recovers 342.92 ct diamond at Cullinan

By: Tasneem Bulbulia     28th July 2021 London-listed Petra Diamonds has recovered a 342.92 ct Type IIa white diamond of “exceptional” quality, in terms of both its colour and clarity, at the Cullinan mine in South Africa. The diamond is likely to be sold at the company’s upcoming tender in September. 

An image showing the exceptional 342.92 carat Type IIa white diamond recovered at Cullinan in July 2021
Photo by Petra Diamonds
342.92 ct Type IIa white diamond

Cobre Panama making good progress – First Quantum

By: Mariaan Webb     28th July 2021 The Cobre Panama copper and gold mine – one of Panama’s biggest ever investments – is making good progress following last year’s Covid-19-related production interruptions, Canadian miner First Quantum reported on Tuesday. The mine produced 81 8686 t of copper and 36 290 oz of gold in the second... 

De Beers records strong sixth-cycle sales

By: Tasneem Bulbulia     28th July 2021 Diamond miner De Beers Group sold about $510-million of rough diamonds in its sixth sales cycle of the year. Sales were significantly higher than the $116-million of rough diamonds sold in the sixth sales cycle of 2020.  It is also higher than the $477-million of rough diamonds sold during the... 

Jervois completes first part of funding drive

By: Esmarie Iannucci     28th July 2021 Triple-listed Jervois Mining has raised some A$136-million following the completion of an institutional placement and the institutional component of its entitlement offer. The company earlier this week announced a A$313-million equity raise comprising an A$87-million institutional placement and... 

Rio invests big in Serbian lithium

By: Esmarie Iannucci     28th July 2021 Major Rio Tinto has committed $2.4-billion to the Jadar lithium-borates project, in Serbia. The Jadar project would scale up Rio’s exposure to battery materials, and demonstrate the company’s commitment to investing capital in a disciplined manner to further strengthen its portfolio for the... 

A drilling rig at a mining project site in Serbia

Founding Glencore partner Issroff to join cobalt miner Jervois board

By: Mariaan Webb     27th July 2021 Australia-headquartered cobalt and nickel mining and refining company Jervois Mining has recruited David Issroff, a founding partner with commodities giant Glencore and an ex-Xstrata board member, to serve as a nonexecutive director of its board. Jervois, which this week announced the... 

An image of David Issroff
David Issroff

If done responsibly, coal mining can add value to economies – panel

By: Marleny Arnoldi     27th July 2021 JSE-listed coal trader Thungela Resources CEO July Ndlovu says it has been a polarising year for the coal industry, with many opposing views on the commodity and the way forward for the industry. For him, the “just transition” represents not simply a switch from fossil fuels to renewables for... 

Cutting coal not as clear-cut as some wish, says analyst

By: Marleny Arnoldi     27th July 2021 Although climate and environmental concerns have resulted in an energy policy that shies away from fossil fuels, demand for coal remains prevalent in many parts of the world, XMP Consulting senior coal analyst Xavier Prévost has said. Speaking during the Coal Industry Day 2021 conference, which... 

Technology will secure coal’s place in a sustainable future, says WCA

By: Marleny Arnoldi     27th July 2021 In opening the Coal Industry Day 2021 on July 27, mining entrepreneur Bernard Swanepoel said the coal industry remains a significant revenue, jobs and energy contributor to the South African economy. He added that a complete faze-out scenario of coal-fired power generation was still decades away.  

Exxaro wheel loader

Chaarat reports ‘healthy’ interest in financing for Kyrgyz mine

By: Mariaan Webb     27th July 2021 Although the seizure of the Kumtor mine in Kyrgyzstan has delayed debt financing for the proposed Tulkubash mine, the project’s timeline has not materially shifted, Aim-quoted Chaarat confirmed on Tuesday. The company previously said the extensive media coverage of the impasse between Canada’s... 

An image of an excavator operating.

London judges re-open £5bn Brazil dam lawsuit against BHP

By: Reuters     27th July 2021 London's Court of Appeal agreed on Tuesday to reopen a major lawsuit against Anglo-Australian mining giant BHP, reviving a £5-billion claim over a 2015 dam rupture that triggered Brazil's worst environmental disaster. A group of 200 000 Brazilian claimants have been pushing to resurrect the... 

London judges re-open £5bn Brazil dam lawsuit against BHP

New La Mancha fund eyes gold opportunities

By: Mariaan Webb     27th July 2021 Privately owned investment group La Mancha has created a new mining fund, which would target opportunities in the “fragmented” gold mining sector, chairperson Naguib Sawaris announced on Monday. The first closing of the fund had been completed with the receipt of all La Mancha’s gold mining... 

An image showing a gold nugget.

Mason Graphite stock jumps on new graphene venture

By: Mariaan Webb     27th July 2021 The share price of TSX-V-listed Mason Graphite jumped 29% on Monday, as the company announced the launch of Black Swan Graphene – a new venture with UK-based speciality chemical company Thomas Swan & Co. Through Black Swan, Mason Graphite has agreed to purchase strategic assets related to... 

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... 

This picture was provided by Kumba as part of its half-year  results media release.
Kumba Iron Ore CE Themba Mkhwanazi

Jervois to buy Finland cobalt refining business for $160m

By: Mariaan Webb     27th July 2021 Dual-listed Jervois on Tuesday announced that it would by Finland-based Freeport Cobalt in a $160-million deal, creating a pathway to transform the company into the second-largest producer of refined cobalt outside China. Freeport Cobalt is the cobalt refining and speciality products business... 

An image showing a refinery in Finland.
Freeport Cobalt has contractual rights to about 40% of the capacity of the Kokkola refinery (pictured), in Finland.

Nickel nears seven-year high with metals rising on demand bets

By: Bloomberg     27th July 2021 Nickel rose for a third straight session, approaching a seven-year high on booming demand for the metal used in stainless steel and electric-vehicle batteries. Copper advanced the most in more than two months. Nickel gained as much as 2.1% to $19 780 a ton. It reached $20 110 in February, the... 

Anglo Platinum evaluating multiple renewable energy forms  

By: Martin Creamer     26th July 2021 As a result its geographic distribution across South Africa, the Anglo American group is collectively evaluating options to access multiple forms of renewable energy, Anglo American Platinum (Amplats) CEO Natascha Viljoen said on Monday. The JSE-listed company has already completed the design and... 

A side view of the Amplats CEO during the July 2021 results presenetation.
Anglo American Platinum presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

G-20 Ministers stumble over coal

By: Bloomberg     26th July 2021 Environmental Ministers from the Group of 20 nations were unable to reach full agreement on key climate goals, just 100 days before a critical international conference kicks off. Even after marathon negotiations that ran through the night, the ministers couldn’t find common ground on phasing out... 

Amplats welcomes new nonexec directors to board

By: Simone Liedtke     26th July 2021 Nolitha Fakude and Anik Michaud are joining Anglo American Platinum’s (Amplats’) board as nonexecutive directors with effect from July 26. They succeed Stephen Pearce and Tony O’Neill, who have stepped down as nonexecutive directors. 

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