R/€ = 17.05 Change: 0.00
R/$ = 16.32 Change: 0.00
Au 1811.16 $/oz Change: 2.30
Pt 887.00 $/oz Change: 1.00

Europe News

European fund for critical minerals projects to launch next year

By: Reuters     17th June 2022 A European fund to invest in critical minerals needed for a transition to zero carbon emissions is seeking billions of euros of public and private money for a launch early next year, an official working with an EU initiative on the project said. Europe and the United States have been scrambling... 

Copper up ahead of possible Chile strike

By: Reuters     17th June 2022 Copper prices recovered slightly on Friday on the prospect of a strike in the world's biggest copper producer Chile and signs of improvement in top buyer China's economy. Three-month copper on the London Metal Exchange added 0.4% to $9 107/t by 10:15 GMT after slumping by 1.7% on Thursday. It... 

Glencore interim trading profit seen beating full-year guidance at $3.2bn 

By: Marleny Arnoldi     17th June 2022 Diversified miner and commodities trader Glencore said on Friday that its marketing division’s interim earnings before interest and taxes (EBIT) would exceed $3.2-billion, which is the top end of its full-year guidance. The company’s full-year adjusted EBIT guidance range was between... 

Glencore interim trading profit seen beating full-year guidance at $3.2bn

Vulcan gains local support for geothermal plans

By: Esmarie Iannucci     17th June 2022 ASX-listed Vulcan Energy Resources has marked an important development milestone at its Zero Carbon lithium project, in Germany, with the City Council of Landau voting to support geothermal energy production. The company said that the City Council of Landau, which covers part of Vulcan’s... 

Expanded scoping study confirms credentials of Malawi rutile/graphite project

By: Tasneem Bulbulia     17th June 2022 Aim-listed Sovereign Metals’ expanded scoping study for Kasiya, in Malawi, has confirmed that the project will be one of the world’s biggest and lowest cost producers of natural rutile and natural graphite with a carbon-footprint substantially lower than current alternatives, the company reports.... 

Shanta awarded mining licence for another Lupa Gold Fields prospect

By: Marleny Arnoldi     17th June 2022 Aim-listed Shanta Gold has been awarded a mining licence for the Porcupine South area within the Lupa Gold Fields of Tanzania. The orebody, which the company discovered in 2020, is located 22 km from its New Luika processing plant. The mining licence, including extendable periods, spans 30 years. 

Nature’s Vault offers investors a ‘green’ gold option

By: Schalk Burger     17th June 2022 About 3 000 t of gold are mined each year, of which 50% goes directly into bank vaults. Environmental, social and governance finance company Nature's Vault aims to keep gold in the ground, thereby avoiding the carbon emissions and environmental impact of mining, while providing investors with... 

Nature's Vault CEO Phil Rickard
Nature's Vault CEO Phil Rickard

Top producer Russia thwarts move to redefine 'conflict diamonds'

By: Reuters     16th June 2022 Russia has torpedoed a Western-backed proposal to discuss whether its diamonds are funding war ahead of an international conflict diamond meeting in Botswana, letters seen by Reuters show. The rift in the Kimberley Process (KP), which certifies rough diamond exports, risks paralyzing the body... 

Top producer Russia thwarts move to redefine 'conflict diamonds'

Cobre makes a move on Metal Tiger's Kalahari exploration vehicle

By: Esmarie Iannucci     16th June 2022 ASX-listed Cobre has struck a share purchase deed with fellow-listed Metal Tiger to acquire take full ownership of the Kalahari Metals (KML) exploration vehicle. Cobre holds a 51% stake inKML, which controls some 8 595 km2 of tenements within the Kalahari copper belt, in Botswana.The tenement... 

ICMM doubles down on tangible sustainability efforts

By: Marleny Arnoldi     15th June 2022 The International Council on Mining and Metals (ICMM) has published an ambitious new strategy for the next three years, which doubles down on the organisation’s spirit of partnership and collaboration. The ‘Strategy and Action Plan 2022 – 2024’ aims to make breakthrough progress on four key... 

ICMM president and CEO Rohitesh Dhawan.
ICMM president and CEO Rohitesh Dhawan.

Oriole reports positive drilling results at Bibemi in Cameroon

By: Tasneem Bulbulia     15th June 2022 Aim-listed Oriole Resources has provided an exploration update on its 90%-owned Bibemi gold project in Cameroon, with the first two holes of the ongoing Phase 4 diamond drilling programme confirming the existence of mineralised sub-horizontal quartz veins between the previously defined... 

PwC suggests miners use 2021 gains to prepare for critical minerals future

By: Marleny Arnoldi     15th June 2022 Although the world’s top 40 mining companies demonstrated stellar financial results in 2021, it is unclear how long this record run can continue, since the industry is experiencing unprecedented change, says PwC. The enterprise services and advisory company finds in its ‘Mine 2022’ report that... 

PwC energy, utilities and resources leader Andries Rossouw
PwC energy, utilities and resources leader Andries Rossouw

ESG provides profitable returns from smart capital allocation – analyst

By: Martin Creamer     15th June 2022 Environmental, social and governance (ESG) frameworks not only help businesses and the communities in which they operate but can also generate positive returns as mining companies reduce operating expenses and receive favourable investor interest and cheaper finance. When it comes to ESG, the... 

Picture supplied.
Nedbank mining equity analyst Arnold van Graan.

Kinross sells Russian assets at half the previously agreed price

By: Mariaan Webb     15th June 2022 Canada’s Kinross Gold on Wednesday announced that it had completed the sale of its Russian assets, but at only half the price previously agreed with Highland Gold Mining group. The company sold its Russian assets for $340-million, compared with the $680-million previously announced. Kinross... 

Kinross sells Russian assets at half the previously agreed price

Europe imports more South African coal as Russian ban looms

By: Reuters     15th June 2022 European countries, scrambling to secure alternatives to Russian coal, imported 40% more coal from South Africa's main export hub in the first five months of this year than over the whole of 2021, figures obtained by Reuters showed on Wednesday. South Africa's Richards Bay Coal Terminal (RBCT)... 

Europe imports more South African coal as Russian ban looms

Arc Minerals starts two-part exploration programme in Botswana

By: Marleny Arnoldi     15th June 2022 London-listed Arc Minerals has started a maiden exploration programme at the prospective Virgo copper/gold project, in Botswana. The first step of the programme involves soil geochemistry surveying, which will be followed by drilling.  

Antofagasta sees FY copper output at bottom-end guidance

By: Creamer Media Reporter      15th June 2022 London-listed Antofagasta has started repairs to the concentrate pipeline at Los Pelambres, in Chile, with access restrictions partially eased. The copper miner said on Wednesday that the pipeline should be back in operation by the end of the month. 

BP takes a major stake in Asian Renewable Energy Hub

By: Esmarie Iannucci     15th June 2022 Energy major BP will acquire a 40.5% equity stake, and become operator of the Asian Renewable Energy Hub (AREH), in Western Australia, which has the potential to be one of the largest renewables and green hydrogen hubs in the world. AREH, in the Pilbara, intends to supply renewable power to... 

Hummingbird confirms positive metrics in Dugbe feasibility study

By: Marleny Arnoldi     14th June 2022 Aim-listed Hummingbird Resources has confirmed strong financial metrics for the Dugbe gold project, in Liberia, in a feasibility study released by project partner TSX-V-listed Pasofino Gold on June 13. The study estimates a net present value after tax of $530-million and a 23.6% internal rate... 

Dugbe project n progress
Dugbe project n progress

AZ-Armaturen continues to engineer fast, dynamic solutions to customer specification

By: Simone Liedtke     14th June 2022 During the 50 years that industrial equipment supplier AZ-Armaturen has been in existence, it has continuously developed its portfolio to meet the increasing demands of globally active customers. “The tradition of being a partner and meeting the highest demands of our customers is inextricably... 

Pic of  some of AZ-Armaturen's industrial equipment
Pictured is some of AZ-Armaturen's industrial equipment that's available to customers

Colombia stepping up oil, coal production amid Russia sanctions

By: Reuters     14th June 2022 Colombia is set to increase coal and petroleum production as it steps up to fill the void created by sanctions against Russia, Energy Minister Diego Mesa said on Monday. The Andean county has restarted coal exports to Ireland, Mesa said on the sidelines of Canada's PDAC conference in Toronto.... 

Glencore gets rich on coal, but questions persist over exit plan

By: Bloomberg     14th June 2022 Glencore is getting rich on coal. The company is on course for another year of bumper profits, its shares just hit a record high — a feat that looked unlikely for most of the last decade — and investors are set for a windfall of returns. But some of them are now asking exactly how it’s all going... 

Prieska Power Reserve partners IDC to further South Africa’s green hydrogen ambitions

By: Martin Creamer     14th June 2022 Emerging green hydrogen company Prieska Power Reserve on Tuesday announced a partnership with the State-owned Industrial Development Corporation (IDC) to advance a green hydrogen project in Prieska, in South Africa’s Northern Cape province. The Prieska Power Reserve Project is described on the... 

Picture supplied.
Prieska Power Reserve director Meta Mhlarhi.

Talga in financing talks for Vittangi

By: Esmarie Iannucci     14th June 2022 ASX-listed Talga on Tuesday said it was progressing project financing discussions for its Vittangi anode project, in Sweden, and is looking at both project funding packages and at possible strategic partnerships. The company has received a letter of interest from the Nordic Investment Bank,... 

AEX Gold establishes JV for strategic minerals in Greenland

By: Mariaan Webb     13th June 2022 Dual-listed AEX Gold is setting up a joint venture (JV) focusing on strategic minerals in Greenland, a region which CEO Eldur Olafsson says is “one of the few remaining under-explored frontiers” for minerals vital for the global energy transition. He notes that the western world is in short... 

Bluejay proposes separate listing of Greenland's Disko

By: Mariaan Webb     13th June 2022 Aim- and FSE-listed Bluejay Mining on Monday announced that it planned to demerge and separately list Disko Exploration, which holds several Greenland assets, including a project that is in a joint venture (JV) with a company backed by billionaires Jeff Bezos and Bill Gates. The proposed... 

Greenland has become the new front for critical metals exploration.
Greenland has become the new front for critical metals exploration.

245 ct diamond discovered at Letšeng

By: Darren Parker     13th June 2022 LSE-listed Gem Diamonds has announced the recovery of an exceptional quality 245 ct white Type II diamond from the Letšeng mine, in Lesotho, on June 11. Type II diamonds have no measurable nitrogen impurities and are considerably rare. 

The 245 ct white Type II diamond from the Letšeng mine
The 245 ct white Type II diamond from the Letšeng mine

Jokkmokk Iron CEO aims to have Kallak in production in 3 – 4 years

By: Mariaan Webb     13th June 2022 London-listed Beowulf Mining on Monday announced Ulla Sandborgh as CEO of Jokkmokk Iron Mines; its subsidiary developing the Kallak iron-ore project in Sweden. The newly appointed CEO, who has strong connections in both the private and public sectors, said that the company was ready to move... 

Ulla Sandborgh
Ulla Sandborgh

Ferrexpo lowers output amid ongoing Russia conflict

By: Mariaan Webb     13th June 2022 Iron-ore miner Ferrexpo said on Monday that it would lower its production volumes, as it continued to be impacted by logistics constraints related to Russia’s invasion of Ukraine. With Ukraine’s Black Sea ports closed, the London-listed mining company has to divert all its iron-ore pellet sales... 

Recycling not sufficient to supply EV demand - Woodmac

By: Esmarie Iannucci     13th June 2022 Lithium-ion battery recycling alone will be unable to meet global demand for battery raw materials, researcher Wood Mackenzie (Woodmac) said. The electrification of the transportation sector has caused a boom in demand for lithium-ion batteries, and global cumulative lithium-ion battery... 

Glencore to automate drilling in first phase of digital mining journey 

By: Martin Creamer     13th June 2022 Diversified mining and marketing company Glencore is to convert surface drills in Chile to autonomous operation as part of the first phase of a digital mining journey. Glencore's Compañía Minera Lomas Bayas copper mine in the Atacama Desert, northern Chile – which extracts low-grade copper oxide... 

Picture provided by Flanders
Glencore to convert surface drills to autonomous operation in Chile.

Aurion's stake in vanadium junior Strategic increases

By: Creamer Media Reporter      13th June 2022 TSX-V-listed Strategic resources has issued 1 166 666 shares to fellow-listed Aurion Resources, which fulfils the requirements to earn 100% ownership in the Silasselkä property in Finland. The issuance increases Aurion’s ownership in the vanadium-focused company from 16% to 18.3%. 

Future metals beneficiation bonus on way for already hugely endowed Northern Cape 

By: Martin Creamer     10th June 2022 Modern technology and global decarbonisation demand is positioning South Africa’s already incredibly well-endowed Northern Cape with big beneficiation bonanza potential, in addition to being a green minerals, green metals and green energy haven. Rapidly developing clean beneficiation technology... 

Creamer Media screenshot.
Future-facing metals in abundance in Northern Cape.

Bushveld, AMCU sign five-year wage agreement

By: Marleny Arnoldi     10th June 2022 Aim-listed integrated primary vanadium producer Bushveld Minerals has signed a five-year wage agreement with the Association of Mineworkers and Construction Union (AMCU). Under the terms of the agreement, AMCU members who are employed by Bushveld will receive a 7% salary increase in 2023 and... 

Trafigura profit surges despite war raising trading risks

By: Bloomberg     10th June 2022 Trafigura Group posted record first-half profit, even after Russia’s invasion of Ukraine forced the commodities giant to pare back its activities as trading risk soared. Wild swings in prices and arbitrage opportunities helped to deliver net profit of $2.7-billion in the six months through... 

Trafigura CEO Jeremy Weir
Trafigura CEO Jeremy Weir

Copper wilts on renewed China lockdowns and recession fears

By: Reuters     10th June 2022 Copper prices extended their decline on Friday as investors fretted over the prospect of weak economic growth hitting metals demand after renewed Covid-19 lockdowns in China and increases to interest rates. Three-month copper on the London Metal Exchange (LME) fell 0.3% to $9 583.50 a tonne by... 

Kasiya's low-cost flake graphite co-product presents market opportunities for Sovereign

By: Tasneem Bulbulia     10th June 2022 Aim- and ASX-listed Sovereign Metals has received recent analysis of the Kasiya rutile project's graphite co-product, one of the critical raw materials contained within the Kasiya deposit. Results show that natural graphite concentrate could be produced as a co-product from Kasiya. 

Greenlight's Einhorn sees gold going 'higher, perhaps much higher'

By: Reuters     10th June 2022 Greenlight Capital hedge fund manager David Einhorn said on Thursday that the Federal Reserve is pretending it can tame inflation and that the price of gold is likely to go higher amid the current environment of rising prices. "The question is whether there's enough gold to back the currency... 

Greenlight's Einhorn sees gold going 'higher, perhaps much higher'
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