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Europe News

IEA says oil demand likely to rise until 2026

By: Marleny Arnoldi     17th March 2021 Based on the current policy settings, global oil demand is set to rise every year to 2026, says the International Energy Agency (IEA). Although world oil markets have rebounded from the massive demand shock triggered by Covid-19, they still face a high degree of uncertainty that is testing the... 

Automakers using know-how to accelerate the uptake of platinum-based fuel cell systems 

By: Simone Liedtke     17th March 2021 While it is widely accepted that for hydrogen to fulfil its potential in enabling the clean energy transition, collaboration is essential and a recent report by the Hydrogen Council talks of the need to accelerate product and solution development, while acknowledging that this will require new... 

Minister sees ‘compelling reasons’ to block UK coal mine 

By: Bloomberg     17th March 2021 Business Secretary Kwasi Kwarteng said there are “very compelling reasons” to scrap plans for the UK’s first new deep coal mine in three decades, amid an outcry over environmental concerns. Initially, Ministers decided not to intervene in a proposal for a mine for coking coal to be used in the... 

Minister sees ‘compelling reasons’ to block UK coal mine
UK Business Secretary Kwasi Kwarteng has suggested that the decision to stop the mine has effectively been taken.

Vast exec team on site to coordinate Baita Plai mine plan

By: Mariaan Webb     17th March 2021 The full executive team of London-listed Vast Resources, including COO Craig Harvey, is on site in Romania to coordinate the implementation of the revised mine plan for its Baita Plai polymetallic mine. The team also includes CEO Andrew Prelea, Vast Baita Plai GM Marcus Brewster, CFO Paul... 

Vast exec team on site to coordinate Baita Plai mine plan

Taye Consulting partners with Polish drill bit, mining equipment supplier

By: Simone Liedtke     17th March 2021 South African multisector consulting company Taye Consulting has teamed up with Polish drill bits and mining equipment supplier Niuw Glinik. Through the partnership, Taye is aiming to increase participation in the mining sector by previously disadvantaged South Africans. 

Taye Consulting partners with Polish drill bit, mining equipment supplier

Platinum’s high-flying stocks set to extend Johannesburg gains 

By: Bloomberg     17th March 2021 The blistering pace of gains that has pushed South African platinum stocks to the highest in more than 12 years looks likely to be sustained as an upswing in demand and supply constraints fuel the rally. Johannesburg’s index of platinum stocks has soared 30% this year, leaving the other sectors... 

Platinum’s high-flying stocks set to extend Johannesburg gains

Rohitesh Dhawan to succeed Tom Bulter as ICMM CEO

By: Schalk Burger     17th March 2021 International organisation the International Council on Mining and Metals (ICMM) has appointed sustainability specialist Rohitesh Dhawan to succeed Tom Bulter as ICMM CEO from April 6. The appointment was made after a competitive global selection process. 

Rohitesh Dhawan to succeed Tom Bulter as ICMM CEO
Rohitesh Dhawan

No. 1 uranium miner may enter spot market after Yellow Cake deal

By: Bloomberg     17th March 2021 Kazatomprom, the world’s largest uranium producer, may buy the nuclear fuel in the spot market after a London-listed investment company exercised an option to purchase the metal. Yellow Cake, which bets on uranium prices, said on Monday that it had exercised a $100-million purchase option with... 

Capital awarded two new contracts at AngloGold’s Geita

By: Simone Liedtke     16th March 2021 Mining services company Capital has been awarded two new long-term three-year contracts at AngloGold Ashanti’s Geita gold mine, in Tanzania. The new contracts are scheduled to start on April 1, and are expected to generate revenues of $65-million over the contract term. 

South Africa has opportunity to win back lost share of global vanadium market – Bushveld   

By: Martin Creamer     16th March 2021 South Africa has an opportunity to win back its lost share of the global vanadium market, which at one stage stood at 25%-plus, says Bushveld Minerals CEO Fortune Mojapelo. Mojapelo, who was speaking to Mining Weekly in a Zoom interview, contends that South Africa has the wherewithal to regain... 

South Africa has opportunity to win back lost share of global vanadium market – Bushveld
Bushveld Minerals CEO Fortune Mojapelo talks on vanadium to Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Diamond, responsible jewellery councils ink partnership agreement

By: Simone Liedtke     16th March 2021 The World Diamond Council (WDC) and the Responsible Jewellery Council (RJC) have entered into a cross-membership partnership and signed mutual codes of conduct, which will help increase knowledge-sharing, pilot new initiatives and increase the positive impact they both make on the lives and... 

Nornickel says production to fall short of 2021 guidance

By: Mariaan Webb     16th March 2021 Russian nickel and platinum group metals (PGMs) miner Nornickel has downgraded its 2021 production guidance, following the flooding of two mines in Siberia. Nickel production will be 35 000 t short of its 2021 guidance, while copper output will be 65 000 t and PGMs 22 t short. 

Antofagasta posts higher 2020 profit as copper prices surge

By: Reuters     16th March 2021 Chilean miner Antofagasta said full-year profit rose 12.3% in 2020, allowing it to increase its dividends, as copper and gold prices surged and its mines performed well despite some Covid-19-related disruption. Earnings before interest, tax, depreciation, and amortisation (Ebitda) rose to... 

Kazatomprom reports 3.6% rise in 2020 net income

By: Reuters     16th March 2021 Kazatomprom, the world's biggest uranium miner, said on Tuesday its 2020 net income rose to 221.4-billion tenge ($528.62-million) from 213.7-billion tenge in 2019 on the back of stronger uranium prices. The Kazakhstan-based company said in a statement that it expected to further boost... 

Condor Gold buys SAG mill from First Majestic

By: Mariaan Webb     16th March 2021 Aim- and TSX-listed Condor Gold has entered into an agreement to buy a new semi-autogenous mill (SAG) mill from First Majestic to bring the La India project, in Nicaragua, into production. The purchase consideration is about $6.5-million, of which $3-million will be paid in shares of the... 

Aluminium industry aims to reduce emissions by 80% by 2050

By: Schalk Burger     16th March 2021 Global industry organisation the International Aluminium Institute (IAI) has published three main pathways that the industry can take to reduce its emissions by 80% by 2050 and meet internationally agreed climate goals, supply demand for primary aluminium that will increase by up to 40% and more... 

Aluminium industry aims to reduce emissions by 80% by 2050

Yellow Cake CEO sees ‘clear shift’ in uranium sentiment

By: Mariaan Webb     16th March 2021 London-listed Yellow Cake, a specialist company operating in the uranium sector, is increasing its uranium oxide (U3O8) holdings from 9.3-million pounds to 13.2-million pounds and is actively looking for further market opportunities to increase its exposure to the uranium price. CEO Andre... 

Boliden warns profit to be hit by Covid outbreaks among staff

By: Reuters     15th March 2021 Miner Boliden warned on Monday that increased sick leave due to Covid-19 infections and production disruptions in its Aitik mine in Sweden and the Tara mine in Ireland would hit profits in the first quarter. The negative effect is expected to be nearly 200-million crowns ($23.4-million) and will... 

Circular economy to play ‘increasingly larger role’ in copper supply over coming years

By: Simone Liedtke     15th March 2021 The demand for copper – primarily driven by the transition to low-carbon energy and technologies, electrification and electric vehicles (EVs) – is expected to double to an average of 60-million tonnes a year by 2050, Glencore Recycling global commercial lead Kunal Sinha said during a conference... 

EVs will cost more using ethically sourced batteries

By: Bloomberg     15th March 2021 The European Union’s efforts to ethically source a key battery metal is facing headwinds that could make it more expensive for automakers to go electric. Cobalt is the battery metal at the highest risk of being exploited in ways that damage the health of people and the environment. Most of the... 

EVs will cost more using ethically sourced batteries

Davis’ Vision Blue launches $300m SPAC, invests in Kazakh vanadium project 

By: Mariaan Webb     15th March 2021 Energy and mining heavyweight Sir Mick Davis on Monday announced the launch of a $300-million special purpose acquisition company (SPAC) as part of his drive to invest in materials and commodities that will enable a shift to a low-carbon economy. Davis’ Vision Blue Resources (VBR) has partnered... 

Davis’ Vision Blue launches $300m SPAC, invests in Kazakh vanadium project
Vision Blue Resources' Mick Davis

Local battery material champions planning first-mover advances into new geographies 

By: Martin Creamer     15th March 2021 South Africa’s team of local battery material champions are planning first-mover advances into new geographies. Mining Weekly can today report that Thakadu Battery Materials, which is producing high-purity battery-grade nickel sulphate for export, has a pipeline of new projects in place that will... 

Local battery material champions planning first-mover advances into new geographies
Thakadu Battery Materials CEO Ruli Diseko

Billionaire commodities dealmaker gets squeezed by rising rates

By: Bloomberg     15th March 2021 Anil Agarwal supercharged his rise from scrap metals trader to billionaire commodities magnate by embracing bold acquisitions and lots of debt. But that decades-long playbook is now being put to the test as rising borrowing costs complicate Agarwal’s efforts to clinch a buyout of the publicly... 

BlackRock-backed Russian gold miner starts $500m IPO

By: Bloomberg     15th March 2021 GV Gold, a Russian gold miner backed by BlackRock, is planning an initial public offering in Moscow that may raise as much as $500-million. A group of shareholders including BlackRock plans to sell shares, GV Gold said in a statement on Monday, without giving further details. They’re seeking a... 

BlackRock-backed Russian gold miner starts $500m IPO
GV Gold, also known as Vysochaishy, operates several Siberian deposits.

Altus gains more exploration ground in Morocco

By: Marleny Arnoldi     15th March 2021 TSX-V- and Aim-listed Altus Strategies has been granted exploration licences for three copper and silver projects totalling 252 km2 in the western Anti-Atlas region of Morocco. Following a competitive tender process, Altus’ subsidiary Aterian Resources was awarded the projects. 

Galantas restarts blasting underground

By: Mariaan Webb     15th March 2021 Northern Ireland gold producer and explorer Galantas Gold has restarted underground blasting, although it remains limited by the availability of cash resources. Development mining of the Kearney gold vein at the Omagh gold mine will produce a feed of higher gold grade for the processing plant... 

Trafigura CEO expects 10Mt supply deficit in copper market by 2030

By: Reuters     12th March 2021 Global commodities trader Trafigura sees a significant supply deficit in the copper market and a prolonged high-price cycle, its chief executive Jeremy Weir told the Fastmarkets Copper Seminar. "We see a significant deficit, possibly in the region of ten-million tonnes of additional copper is... 

Just clearing exploration backlog would be huge leap forward – Miller  

By: Martin Creamer     12th March 2021 Ahead of tackling policy issues, incremental ongoing effort must be prioritised to clear South Africa’s huge mineral exploration and mining rights backlog, says AmaranthCX director Paul Miller. The backlog currently stands at more than 5 000 unprocessed exploration applications and  235... 

Just clearing exploration backlog would be huge leap forward – Miller
AmaranthCX director Paul Miller talks exploration to Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

ICMM confident of broad-based uptake of tailings standard 

By: Marleny Arnoldi     12th March 2021 Since the launch of the Global Industry Standard on Tailings Management on August 5 last year, investors and industry organisations alike have been working to ensure the implementation of the standard by the global mining industry. During a session of this year’s Prospectors & Development... 

Anglo Pacific says 'ideal time' to invest in cobalt

By: Creamer Media Reporter      12th March 2021 LSE- and TSX-listed Anglo Pacific has completed the acquisition of a 70% net interest in a stream on cobalt production from the Voisey's Bay mine in Canada from private equity sellers for a cash consideration of $205-million and further contingency of up to $27-million. “The transaction is not... 

Anglo Pacific says 'ideal time' to invest in cobalt
Voisey's Bay in Canada

UK government intervenes in deep coal mine plan

By: Reuters     12th March 2021 Britain's government has intervened in a plan for a new deep coal mine in northern England after climate change advisers said the project would "increase global emissions". The plans pose a challenge for Prime Minister Boris Johnson's government, which wants to boost jobs in northern England... 

UK government intervenes in deep coal mine plan

Rick Menell resigns as Gold Fields director

By: Creamer Media Reporter      11th March 2021 Rick Menell has resigned as nonexecutive director and deputy chairperson of Gold Fields, with effect from March 10. His resignation follows a successful tenure of 13 years as a nonexecutive director of the company. 

Rick Menell resigns as Gold Fields director
Photo by Creamer Media
Rick Menell

Glencore chairman to step down before next year's AGM

By: Reuters     11th March 2021 Glencore chairperson Anthony Hayward will step down before next year's annual general meeting, he said in the company's annual report published on Thursday. Hayward, 63, said the board had recommended to shareholders that he remain in the role while the senior management succession is concluded. 

Czech chemicals company expanding into Africa, the Americas

By: Simone Liedtke     11th March 2021 Czech-based Draslovka Holdings will be expanding its footprint into Africa and the Americas. The company, a family-owned group producing cyanide-based specialty chemicals, has developed a new proprietary hydrogen cyanide reactor, which has been successfully operating in a production facility, in... 

Dividend-paying Gem Diamonds working on technologies to reduce diamond damage  

By: Martin Creamer     11th March 2021 Diamond mining and marketing company Gem Diamonds is advancing innovative technologies that reduce diamond damage by ejecting rock non-mechanically and being able to see diamonds in a certain size of rock, Gem CEO Clifford Elphick said on Thursday when the London-listed company reported positive... 

Dividend-paying Gem Diamonds working on technologies to reduce diamond damage
Gem Diamonds results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Kilimapesa sale progresses as Kenyan Ministry, competition authority give their nod

By: Marleny Arnoldi     11th March 2021 The Kenyan Ministry of Petroleum and Mining and the Competition Authority of Kenya have approved a transaction whereby Mayflower Capital Investments intends to acquire the Kilimapesa gold mine, in Kenya. Aim-listed Goldplat, the seller, says this puts all parties in good position to now... 

Emmerson to start construction at Khemisset by year-end

By: Simone Liedtke     11th March 2021 LSE-listed potash developer Emmerson intends to start construction of Africa’s first potash mine, its Khemisset project, in Morocco, by the end of this year. The miner also intends to complete a concept study examining the potential to develop its flagship project to realise not just its... 

Eramet top shareholder backs strategy as CEO future debated

By: Reuters     11th March 2021 Eramet SA's top shareholder, the Duval family, supports management strategy, including the planned sale of aeronautics supplier Aubert & Duval, it said in a statement after recently suggesting a change of leadership at the mining group. The Duvals had written to the French state's APE... 

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