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Europe News

Kenmare lifts full-year dividend

By: Marleny Arnoldi     24th March 2021 London-listed ilmenite miner Kenmare Resources says 2020 had been a year of transition for the company, with the company already seeing benefits of having moved its Wet Concentrator Plant B from the Namalope site to Pilivili. The move has resulted in an increase in production volumes and a... 

Nornickel shareholder wants dividend change as investments loom - Ifx

By: Reuters     24th March 2021 Nornickel's largest shareholder, Interros, has proposed changing its dividend policy, Interfax news agency reported on Wednesday, in a move that would lower payouts to help fund planned investment. The miner has just paid $2-billion to Russia for environmental damage after a fuel spill at its... 

South Africa playing key role in hydrogen economy – Minister  

By: Martin Creamer     24th March 2021 South Africa is playing an important role in the ‘hydrogen economy’ as the country targets clean and reliable alternative energy sources, Mineral Resources and Energy Minister Gwede Mantashe said on Wednesday. In his opening keynote address to the Platinum Group Metals Industry Day chaired by... 

South Africa playing key role in hydrogen economy – Minister
Platinum Group Metals Industry Day covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Alta raises cash for Italian exploration

By: Esmarie Iannucci     24th March 2021 Junior Alta Zinc will raise A$3.75-million to fund exploration drilling at its Gorno zinc project, in Italy. The ASX-listed company has received binding commitments from professional and sophisticated investors to subscribe for some 750-million shares, at a price of 5c each, under the company’s... 

Gemfields, Sandy Leong partner on fundraising initiative

By: Tasneem Bulbulia     24th March 2021 Responsibly sourced emeralds from the Kagem mine, in Lufwanyama, Zambia, will create the centrepiece of a new fine jewellery collection by US-based designer Sandy Leong. A portion of the sales proceeds will be used to support the Gemfields Foundation – the charitable arm of gemstone supplier and... 

Master Drilling advancing mechanisation for two top-tier local clients  

By: Martin Creamer     23rd March 2021 Mine mechanisation is being advanced for two top-tier  local clients of Master Drilling, the CEO of the JSE-listed company, Danie Pretorius, said on Tuesday. Speaking to Mining Weekly in a Zoom interview after reporting 72.7%-higher 2020 net cash generation of $25.5-million, 18%-lower debt to... 

Master Drilling advancing mechanisation for two top-tier local clients
Master Drilling CEO Danie Pretorius interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Nagle to start as Glencore CEO on July 1

By: Marleny Arnoldi     23rd March 2021 Further to its announcement in December, diversified miner Glencore confirms that Gary Nagle will take up the position of CEO and director from July 1. Ivan Glasenberg is retiring on June 30.  

Remote-operation drilling footprint providing sizeable benefit – Master Drilling  

By: Martin Creamer     23rd March 2021 An increased remote-operation drilling footprint is providing considerable benefit for Master Drilling, the JSE-listed drilling services company said on Tuesday, when it reported 72.7%-higher 2020 net cash generation of $25.5-million, 18%-lower debt to $42.1-million, and a halved gearing ratio to... 

Remote-operation drilling footprint providing sizeable benefit – Master Drilling
Master Drilling results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Green Minerals listed in Oslo with aim to mine ocean floor in 2026

By: Reuters     23rd March 2021 Cyprus-based Seabird Exploration on Tuesday listed its deep-sea mining arm Green Minerals, which aims for mineral production off Norway in 2026. In a separate statement, it also said it would collaborate with a consortium led by Oil States Industries, a subsidiary of oil service firm Oil States... 

Green Minerals listed in Oslo with aim to mine ocean floor in 2026

Trafigura sees green copper supercycle driving prices to $15 000

By: Bloomberg     23rd March 2021 The world’s biggest copper trader expects the metal to hit $15 000 a ton in the coming decade as demand from global decarbonisation produces a deep market deficit. Even in the early stages of the Covid-19 crisis, Trafigura Group was betting on the rebound that’s seen copper double over the past... 

Trafigura sees green copper supercycle driving prices to $15 000

Nornickel to cut emissions in Russia's border region with Norway, Finland

By: Reuters     23rd March 2021 Russian metals producer Nornickel said on Monday it has shut down a metallurgical processing facility in Russia's border region with Norway and Finland which had been the area's main source of sulphur dioxide emissions. The shutdown, along with the recent closure of a nearby Nornickel smelting... 

Russian gold miner GV Gold sets price range for IPO

By: Reuters     23rd March 2021 Shareholders of Russia's GV Gold, including US fund BlackRock, aim to raise $450-million to $560-million by selling about 37% of the mid-sized gold miner through an initial public offering (IPO) in Moscow. GV Gold on Tuesday set its IPO price range at 1 650 to 2 050 roubles ($21.74 to $27.01)... 

Russian gold miner GV Gold sets price range for IPO

Botswana Diamonds recovers 11 diamonds from Limpopo pipe

By: Tasneem Bulbulia     23rd March 2021 Diamond exploration company Botswana Diamonds has recovered 11 diamonds and abundant kimberlitic indicators from drill samples at the recently discovered River Kimberlite pipe at Thorny River in South Africa’s Limpopo province. Following a detailed ground geophysical programme in October 2020,... 

Agnico Eagle sells two projects in Finland and Sweden

By: Mariaan Webb     23rd March 2021 Canadian gold miner Agnico Eagle will sell its Oijärvi gold project, in central Finland, and the Solvik gold project, in southern Sweden for $10-million to Gold Line Resources, in a transaction that will expand the TSX-V-listed junior's existing portfolio in the Nordic region. The transaction... 

Master Drilling in muted but resilient 2020 performance 

By: Martin Creamer     23rd March 2021 Drilling services company Master Drilling, which operates in 23 countries and which is continuing to grow its presence in new global markets, on Tuesday reported a “muted but resilient performance” for the full year ended December 31, thanks to what it described as a “flexible business model and... 

Master Drilling in muted but resilient 2020 performance
Photo by Creamer Media
Master Drilling CEO Danie Pretorius.

Northam pays most tax as growth strategy heads for 8 500 jobs boost 

By: Martin Creamer     23rd March 2021 “We’ve made the single-largest tax payment in the history of the company,” Northam Platinum CEO Paul Dunne said during last week’s presentation of 74%-higher headline half-year earnings.   The JSE-listed platinum group metals (PGMs) mining company’s half-year contribution to the fiscus topped... 

Northam pays most tax as growth strategy heads for 8 500 jobs boost
Northam Platinum CEO Paul Dunne’s half-year presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Euro Manganese raises cash for Czech project

By: Esmarie Iannucci     22nd March 2021 ASX- and TSX-V listed Euro Manganese will raise C$29-million in a private placement to accelerate work at its Chvaletice manganese project, in the Czech Republic. The company is offering 50-million chess depositary interests (CDIs) each representing one share at a price of 60c each. 

Euro Manganese raises cash for Czech project

Northam Platinum building 10 MW solar power plant at Zondereinde smelter  

By: Martin Creamer     19th March 2021 Platinum group metals (PGMs) mining company Northam Platinum said on Friday that it was designing and building a 10 MW solar energy plant for the company’s smelter at its Zondereinde mine, in Limpopo province. Located on the northern end of the western limb of the Bushveld Complex, near the town... 

Northam Platinum building 10 MW solar power plant at Zondereinde smelter
Northam Platinum CEO Paul Dunne’s half-year presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Boliden launches low-carbon copper products

By: Reuters     19th March 2021 Sweden's Boliden said it has launched two "green" copper products this week, the first of its kind, hoping to appeal to consumers aiming to cut their carbon footprint. The two copper cathode products - one sourced from recycled electronic scrap, the other from reduced-emissions mining - will... 

Sibanye, Johnson Matthey partner to boost battery technology, low-carbon development 

By: Donna Slater     19th March 2021 LSE-listed sustainable technologies company Johnson Matthey and JSE- and NYSE-listed gold and platinum group metals (PGMs) miner Sibanye-Stillwater have formed a strategic partnership to secure critical metals and accelerate new battery technologies for a low-carbon future. The collaboration will... 

Sibanye, Johnson Matthey partner to boost battery technology, low-carbon development

Northam earnings soar, operational performance pumps cash 

By: Martin Creamer     19th March 2021 The earnings of platinum group metals (PGMs) mining company Northam Platinum soared in the six months to the end of December when 54% more cash was generated. Operational growth projects, initiated in a period of lacklustre metal prices, are now coming on track, and delivering valuable... 

Northam earnings soar, operational performance pumps cash
Photo by Creamer Media
Northam Platinum CEO Paul Dunne

Kyrgyzstan tax service revives claims against Kumtor – Centerra

By: Mariaan Webb     18th March 2021 The State Tax Service in Kyrgyzstan has revived previously-terminated claims and instituted a new claim against the Kumtor mine, Canadian owner Centerra Gold confirmed on Thursday, but said it believed the claims were exaggerated and without merit. In total, the claims amount to about... 

Kyrgyzstan tax service revives claims against Kumtor – Centerra

Kazera readies 242 ct for sale

By: Marleny Arnoldi     18th March 2021 Aim-listed investment company Kazera Global has reported that it final tally of sorted diamonds had increased to 242 ct from the 220 ct reported on February 23. Once this month’s production is sold, assuming an average price of $200/ct, it will take the company’s South African operation into... 

Capital's West African expansion pays off as earnings rise

By: Marleny Arnoldi     18th March 2021 London-listed Capital posted basic earnings a share of$0.178 apiece for the year ended December 31, 2020 – a 130% increase on the basic earnings of $0.077 apiece reported in the prior year. The company’s net profit after tax was 139% higher year-on-year at $24.8-million, driven by strong... 

Exxaro eyeing 84 MW solar power for coal mine, hydrogen fuel cells 

By: Martin Creamer     18th March 2021 South Africa is at crossroads of energy liberalisation with 2.5 GW of embedded mining demand, including 84 MW demand at Exxaro Resources’ Grootegeluk coal mine alone and the intended use of hydrogen fuel cell powered trucking, Exxaro Resources said on Thursday. “Energy is the largest single... 

Exxaro eyeing 84 MW solar power for coal mine, hydrogen fuel cells
Exxaro Resources’ newly appointed MD Energy Roland Tatnall

Former Tesla head of battery supply chain joins Vulcan board

By: Creamer Media Reporter      18th March 2021 The former head of electric vehicle (EV) company Tesla’s battery supply chain, Annie Liu, has joined the board of lithium developer Vulcan Energy. Commenting on the appointment, chairperson Gavin Rezos said that Liu had a deep knowledge and understanding of battery supply chains and the lithium... 

Nombasa Tsengwa appointed CEO-designate of Exxaro Resources 

By: Martin Creamer     18th March 2021 Dr Nombasa Tsengwa has been appointment CEO-designate of diversified mining and energy company Exxaro Resources, effective from 31May 2023, when current CEO Mxolisi Mgojo reaches the retirement age of 63. The appointment of Dr Tsengwa, who is Exxaro’s current MD Minerals, forms part of what the... 

Nombasa Tsengwa appointed CEO-designate of Exxaro Resources
Photo by Creamer Media
Dr Nombasa Tsengwa has been appointment CEO-designate.

Vladislav Sviblov swoops on Trans Siberian Gold

By: Mariaan Webb     18th March 2021 Horvik, a Cyprus-registered company indirectly owned by Vladislav Sviblov, has agreed to acquire 51.2% of the shares of London-listed Trans Siberian Gold (TSG) from its major shareholders for 118p and plans to announce a recommended preconditional mandatory cash offer for the remaining shares. 

Vladislav Sviblov swoops on Trans Siberian Gold

Platinum giants get lifeline as green economy boosts demand

By: Bloomberg     18th March 2021 The world’s biggest platinum miners have been handed a lifeline as the introduction of tougher vehicle emissions rules from Asia to Europe stimulates demand. After a decade in the doldrums, South Africa’s key platinum industry reported windfall profits last month as supply deficits pushed... 

Nordgold commits to net zero carbon dioxide emissions by 2050

By: Creamer Media Reporter      18th March 2021 Internationally diversified gold producer Nordgold has committed to achieving net zero carbon dioxide emissions by 2050. To meet this target, Nordgold will further develop its criteria for all new projects, including new requirements for renewable power generation, green mining fleets and... 

ARC expands portfolio value despite tough trading in 2020 

By: Marleny Arnoldi     18th March 2021 JSE-listed African Rainbow Capital (ARC) experienced a strained trading period in the six months ended December 31, 2020; however, the company says it has seen market sentiment and activity in certain sectors improving since. ARC’s intrinsic investment value in its ARC Fund increased by 16.6%... 

ARC expands portfolio value despite tough trading in 2020
African Rainbow Capital executives discuss the company's interim performance

BP plans UK's largest blue hydrogen production facility

By: Reuters     18th March 2021 Oil and gas major BP said on Thursday it was developing plans for the UK's largest blue hydrogen production facility, expanding its investments in carbon reduction technologies to tackle global warming. Governments and energy companies are placing large bets on clean hydrogen and carbon capture... 

Exxaro announces record dividend on earnings leap in fourth fatality-free year

By: Martin Creamer     18th March 2021 The black-empowered and black-led diversified mining company Exxaro Resources on Thursday announced a record dividend distribution on 25%-higher earnings and another year without occupational loss of life, taking the safety achievement to four years of fatality-free operation. Cash of... 

Exxaro announces record dividend on earnings leap in fourth fatality-free year
Exxaro CEO Mxolisi Mgojo

Greek lawmakers seal revised deal to restart Eldorado's mines investment

By: Reuters     18th March 2021 Greek lawmakers approved a revised contract with Canada's Eldorado Gold on Wednesday, opening the way for restarting a major mining investment stalled for years over licensing and environmental concerns. The Vancouver-based miner has been embroiled for years in a standoff with Greece over... 

Greek lawmakers seal revised deal to restart Eldorado's mines investment

Northern Cape ‘elephant country' needs exploration boost, says explorer  

By: Martin Creamer     17th March 2021 South Africa is still "elephant country" and needs to boost exploration in the Northern Cape's highly prospective Namaqua metamorphic geological province in particular, says PGM Management MD Gerhard Meintjes. Meintjes, a private explorer who spoke to Mining Weekly in a Zoom interview, focuses on... 

Northern Cape ‘elephant country' needs exploration boost, says explorer
PGM Management MD Gerhard Meintjes interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Altus takes next steps at Bikoula development

By: Marleny Arnoldi     17th March 2021 TSX-V- and Aim-listed Altus Strategies has completed a strategic review process, undertaken by independent consultants Mining Plus, on the company’s 97%-owned Bikoula iron project, in Cameroon. The strategic review was intended to inform the next steps of development for the project, including... 

Caledonia to be included in Global Junior Gold Miners Index for the first time

By: Simone Liedtke     17th March 2021 Caledonia Mining is to be included in the MVIS Global Junior Gold Miners (GDXJ) Index for the first time. This follows the index’s first-quarter review for 2021. The GDXJ index forms the basis of various passive gold sector investment funds in the North American market, the most significant being... 

Power Metal Resources receives ‘encouraging results’ for South Ghanzi project

By: Simone Liedtke     17th March 2021 Aim-listed metals explorer and developer Power Metal Resources has received “encouraging results” from the airborne electromagnetic (AEM) surveys recently flown over the South Ghanzi project, in the Kalahari Copper Belt, in Botswana. The South Ghanzi project is part of a strategic joint venture... 

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