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Europe News

Bushveld makes follow-on investment in VRFB manufacturer Enerox 

By: Simone Liedtke     1st April 2021 Vanadium miner Bushveld Minerals will invest a further $7.5-million in vanadium redox flow battery (VRFB) manufacturer Enerox, as part of a larger $30-million commitment by Enerox investors to scale up the production of capacity of the energy storage solutions firm. Enerox will expand its... 

Premier African Minerals initiates DFS at Zulu

By: Tasneem Bulbulia     31st March 2021 Aim-listed Premier African Minerals has noted progress and a funding strategy to be applied in the future development of both Aim-listed Premier African Minerals and the Zulu lithium and tantalum project. The Zulu deposits are contained within an exclusive prospecting rights area greater than 200... 

Oriole announces proof of concept confirmation at Bibemi

By: Tasneem Bulbulia     31st March 2021 Aim-listed Oriole Resources has recorded an update on its ongoing maiden diamond drilling programme at the Bibemi gold project, in Cameroon, where it is earning up to a 90% interest. Results from the first hole of a planned 28-hole programme have returned 1 m grading 4.09 g/t gold and 1 m grading... 

Greenland to hold election watched closely by global mining industry

By: Reuters     31st March 2021 Greenland holds an election next week that could decide the fate of vast deposits of rare earth metals which international companies want to exploit and are vital to the Arctic island's hopes of economic recovery and independence. The government called the April 6 snap parliamentary poll after a... 

Greenland to hold election watched closely by global mining industry

Petropavlovsk management restructuring under way

By: Mariaan Webb     31st March 2021 A full management restructuring is under way at Russia-focused gold miner Petropavlovsk to address management oversight and talent gaps within the existing structure, the London-listed company said on Wednesday. Petropavlovsk was plunged into corporate turmoil last year when rival Russian miner... 

Anglo collaborating on feasibility study for South Africa’s ‘hydrogen valley’ 

By: Martin Creamer     31st March 2021 Diversified mining and marketing company Anglo American on Wednesday announced a collaboration agreement to complete a feasibility study to develop a ‘hydrogen valley’ anchored in South Africa’s platinum group metals- (PGMs-) rich Bushveld geological area. Spearheaded by South Africa’s Department... 

Anglo collaborating on feasibility study for South Africa’s ‘hydrogen valley’
The Mogalakwena platinum group metals mine in Limpopo.

Google, BMW, Volvo and Samsung SDI sign up to WWF call for temporary ban on deep-sea mining

By: Reuters     31st March 2021 Google, BMW, Volvo and Samsung SDI are the first global companies to have signed up to a World Wide Fund for Nature (WWF) call for a moratorium on deep-sea mining, the WWF said on Wednesday. In backing the call, the companies commit not to source any minerals from the seabed, to exclude such... 

Google, BMW, Volvo and Samsung SDI sign up to WWF call for temporary ban on deep-sea mining

Eramet board backs CEO for new term after shareholder tussle

By: Reuters     31st March 2021 Eramet's board on Tuesday backed a new term for CEO Christel Bories during which her combined CEO and chairwoman role would be split, the French mining group said, in a compromise after tensions between its top shareholders. Eramet's board unanimously agreed to propose to the shareholder meeting... 

Armadale gets enviro go-ahead

By: Marleny Arnoldi     30th March 2021 The National Environment Management Council of Tanzania has approved Aim-listed Armadale Capital’s environmental- and social-impact assessment for the production of natural flake graphite from the Mahenge Liandu graphite project. The company has now submitted its mining licence application to the... 

Gold extends slide after Biden flags rapid progress on vaccines

By: Bloomberg     30th March 2021 Gold extended its biggest fall in more than three weeks as President Joe Biden prepared to unveil big spending plans after announcing major progress on rolling out vaccines. Biden said 90% of US adults will be eligible for Covid-19 vaccines by April 19, boosting risk appetites even as they... 

Gold extends slide after Biden flags rapid progress on vaccines

Gemfields reports $93m net loss on back of restricted auctions

By: Marleny Arnoldi     30th March 2021 Aim- and JSE-listed Gemfields says its full-year results reflect the magnitude of the impact that Covid-19 has had on the company, rendering it unable to hold auctions in its traditional format since February 2020. The group had to implement a range of cash saving measures, including suspending... 

Petra delays release of report into alleged abuses at Williamson mine 

By: Tasneem Bulbulia     30th March 2021 LSE-listed Petra Diamonds says it has obtained further information relating to the allegations of human rights abuses at its Williamson mine, in Tanzania. It has, therefore, decided to defer the publication of its feedback on the independent investigation into the alleged human rights abuses... 

Now is time to get going on hydrogen economy opportunity – PIC 

By: Martin Creamer     30th March 2021 South Africa has got a massive opportunity to participate in the hydrogen economy and it would be a national travesty if the country failed to do so, says Public Investment Corporation (PIC) sector specialist mining, beneficiation and energy Heidi Sternberg. Mining Weekly can report that the PIC,... 

Now is time to get going on hydrogen economy opportunity – PIC
Photo by Creamer Media
From top left, clockwise, are Prakashim Moodliar, Neal Froneman, Sifiso Sibiya, Kevin Eggers and Heidi Sternberg.

Russian gold miner GV Gold postpones IPO

By: Reuters     29th March 2021 Russian mid-sized gold producer GV Gold has decided to postpone an initial public offering (IPO) of its shares in Moscow, it said on Monday, confirming an earlier source-based report by Reuters. Its shareholders, including U.S. fund BlackRock, planned to raise $450-million to $560-million by... 

Russian gold miner GV Gold postpones IPO

Hitachi, ABB sign MoU to explore carbon-reducing opportunities

By: Donna Slater     29th March 2021 Technology company ABB has signed a memorandum of understanding (MoU) with machinery manufacturer Hitachi Construction Machinery to share their expertise and collaborate in bringing solutions to market that will reduce the greenhouse-gas (GHG) emissions associated with heavy machinery in mining.... 

Proposed spin-off of Nornickel copper mine may ease dividend talks - analysts

By: Reuters     29th March 2021 A proposal by Nornickel to distribute its 50% stake in the Bystrinsky copper mine among its own shareholders may ease dividend discussions between the Russian metal producer's two co-owners, analysts said. Nornickel said last week that the spin-off of the mine near the Russia-China border would... 

Nornickel board calls on shareholders to discuss proposed change to dividend policy

By: Reuters     29th March 2021 The board of Russia's Norilsk Nickel called on shareholders to discuss a proposed change to its dividend policy as the palladium and nickel producer looks to invest more in production and environmental protection after a major fuel spill in the Arctic. Nornickel, the world's largest producer of... 

Nornickel board calls on shareholders to discuss proposed change to dividend policy

Glencore shareholders to vote on climate action plan at upcoming AGM

By: Tasneem Bulbulia     29th March 2021 Shareholders of diversified miner Glencore will on April 29, during the group’s annual general meeting (AGM), be given the opportunity to vote on the approval of the ‘Climate Action Plan: Pathway to Net Zero’ report published by Glencore on December 4, 2020. The company’s climate action plan sets... 

Glencore shareholders to vote on climate action plan at upcoming AGM
Glencore chairperson Tony Hayward

Botswana Diamonds progresses development of Botswana, South African projects

By: Marleny Arnoldi     29th March 2021 Aim-listed Botswana Diamonds (BOD) says it had an eventful six months ended December 31, 2020, making significant progress on its diamond development projects in Botswana and South Africa. Some of the company’s highlights include discovering a new diamond-bearing kimberlite at its Thorny River... 

Pensana receives UK government support for Saltend rare earths facility

By: Marleny Arnoldi     29th March 2021 London-listed Pensana has announced that its proposed rare earth processing facility at the Saltend Chemicals Park has received first phase progression from the UK government’s £1-billion Automotive Transformation Fund (ATF). The ATF seeks to support the national transition to electric vehicles... 

Newest battery-metal IPO taps rising interest in the deep sea

By: Bloomberg     29th March 2021 Rising investor demand for ethically-sourced battery metals opened the window this week for Norwegian seafarers to become the first deep-sea mining stock publicly offered. Norway’s Green Minerals says it will be able to exploit the cobalt and copper needed by electric vehicles without inflicting... 

Newest battery-metal IPO taps rising interest in the deep sea

London trader Stratton to sell First Cobalt's refinery output in 5-yr deal

By: Reuters     29th March 2021 London-based metals trader Stratton Metal Resources will sell cobalt sulphate produced by First Cobalt's Canadian refinery under a five-year deal, a source with direct knowledge of the arrangement said on Sunday. Contract terms including price and quantity were not immediately known. Under the... 

South African-developed fuel cell passing tests at Implats refinery 

By: Martin Creamer     29th March 2021 A South African-developed stationary hydrogen fuel cell is doing well as it is put through a testing phase at the Impala Platinum (Implats) refinery, group executive: refining and marketing Sifiso Sibiya has revealed. The stationary hydrogen fuel cell at Implats’ precious metals and base metals... 

South African-developed fuel cell passing tests at Implats refinery
Impala Platinum group executive: refining and marketing Sifiso Sibiya

First hydrogen and movement by third quarter – Anglo American Platinum 

By: Martin Creamer     29th March 2021 Anglo American Platinum executive head: project and environment Prakashim Moodliar has outlined what the company refers to as its smart power project, which is the development of the hydrogen fuel cell and battery-powered module, retrofitted on to a large haul truck, for deployment at the... 

First hydrogen and movement by third quarter – Anglo American Platinum
Anglo American Platinum executive head: project and environment Prakashim Moodliar.

One ultra-rare metal is doing much better than Bitcoin this year

By: Bloomberg     26th March 2021 There’s one metal that’s leaving all commodities -- and even Bitcoin -- in the dust this year. The challenge for investors is buying it. Iridium, one of the rarest precious metals and mined as a byproduct of platinum and palladium, has surged 131% since the start of January, far beating Bitcoin’s... 

Two-part modernisation of Amandelbult platinum mine under way  

By: Martin Creamer     26th March 2021 Two-part modernisation is under way at the Amandelbult underground platinum group metals (PGMs) mine of Anglo American Platinum (Amplats), one where conventional mine design remains intact but is renedered safer and more efficient, and the other involving mechanisation and the deployment of... 

Two-part modernisation of Amandelbult platinum mine under way
Anglo American Platinum CEO Natascha Viljoen interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Fitch warns that signs are emerging of weakness in copper price

By: Marleny Arnoldi     26th March 2021 Research agency Fitch Solutions has revised upwards its average copper price forecast for this year to $7 250/t, from $6 800/t previously, as prices have pushed higher than previously expected. The combination of bullish sentiment towards the economic recovery and a substantially weaker dollar... 

Moody’s forecasts 30% earnings growth for metals and mining industry by 2022  

By: Marleny Arnoldi     26th March 2021 Moody’s Investors Service forecasts the global metals and mining industry’s earnings will increase by about 30% through the first quarter of 2022 on the back of economic recovery, as well as rising demand and tight supplies for steel, iron-ore and copper. This while aluminium, nickel and zinc... 

Rusal open for talks over Nornickel dividend - deputy CEO

By: Reuters     26th March 2021 Russia's Rusal is open to talks with a fellow key shareholder in Nornickel about the miner potentially cutting its dividend, but remains to be convinced the current policy should change, its deputy chief executive said. The board of directors at Nornickel, in which Rusal holds a 27.8% stake,... 

KAZ gets final bid of £4bn from Nova Resources

By: Reuters     26th March 2021 Copper miner Kaz Minerals has received a final bid worth 4.02-billion pounds from Chairman-led Nova Resources after minority shareholders rejected two proposals for being too low. Under the new offer, KAZ shareholders will receive 850p in cash, up from an earlier offer of 780p, the companies... 

Josemaria announces C$41m financing

By: Creamer Media Reporter      26th March 2021 Toronto-listed Josemaria Resources, part of the Lundin Group, on Thursday announced financing initiatives totalling C$41-million to continue to advance its namesake copper/gold project in San Juan, Argentina. The company has entered into an agreement with a syndicate of underwriters led by BMO... 

Rio Tinto faces class action suit over Mongolia copper project

By: Reuters     26th March 2021 The largest minority shareholder in Rio Tinto's Mongolian copper project Oyu Tolgoi has filed a class action lawsuit in New York, claiming the company concealed massive cost overruns and delays. Rio Tinto said that the lawsuit is without merit. 

Rio Tinto faces class action suit over Mongolia copper project

Strong interest in Ukraine iron-ore project, says Black Iron

By: Mariaan Webb     26th March 2021 Toronto-listed Black Iron has received strong interest from “well-known multibillion-dollar companies” interested in securing rights to buy the planned four-million tons a year that its iron-ore project in Ukraine will produce. The company intends to offer the production at a “slight discount”... 

KGHM has no plans to change its stake in Sierra Gorda mine

By: Reuters     25th March 2021 Polish copper and silver producer KGHM has no plans to change its 55% stake in its Chilean Sierra Gorda mine, the company's deputy head Pawel Gruza said on Thursday. "Sierra Gorda is one of KGHM's strategic assets. In this moment we do not expect changes of our capital involvement in this... 

Dividend over digging: Miners pay shareholders but need new projects

By: Reuters     25th March 2021 Major miners need to increase spending to secure fresh copper supply, analysts say, amid worries that availability of the red metal, crucial for the shift to a low carbon world, will slide just as demand surges. Copper -- which hit nine-and-a-half year highs last month at $9 617 a tonne -- is an... 

Dividend over digging: Miners pay shareholders but need new projects

Nussir receives local backing for fully-electric Norwegian copper mine

By: Creamer Media Reporter      25th March 2021 Norwegian company Nussir has signed a cooperation agreement with the Hammerfest municipality for its namesake project, which will be a fully-electrified mine powered by renewable energy. The agreement allows for local business and job opportunities, the company said on Thursday, stating that... 

Nussir receives local backing for fully-electric Norwegian copper mine

Substituting rhodium with palladium next, says Sibanye-Stillwater  

By: Martin Creamer     25th March 2021 Substituting rhodium with palladium is the next platinum group metals (PGMs) substitution investment that PGM mining and marketing company Sibanye-Stillwater intends making. Sibanye CEO Neal Froneman revealed this during a panel discussion at this week’s PGMs Industry Day virtual event covered by... 

Substituting rhodium with palladium next, says Sibanye-Stillwater
PGMs Industry Day panel discussion covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Swedish JV will open first fossil-free steelmaking plant in 2026

By: Bloomberg     25th March 2021 A Swedish joint venture that aims to remove fossil fuels from steelmaking is planning on establishing its first demonstration plant in 2026. Hybrit, an initiative run by steelmaker SSAB, iron-ore producer LKAB and energy supplier Vattenfall, will locate the factory in the northern Swedish town of... 

Swedish JV will open first fossil-free steelmaking plant in 2026
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