R/€ = 17.05 Change: 0.00
R/$ = 16.33 Change: 0.00
Au 1810.73 $/oz Change: 1.87
Pt 887.00 $/oz Change: 1.00

Europe News

Oil powers to sixth monthly gain as EU set to curb Russian flows

By: Bloomberg     31st May 2022 Oil headed for the longest run of monthly gains in more than a decade as European Union (EU) leaders agreed to pursue a partial ban on imports of crude from Russia to increase pressure on Moscow for its invasion of Ukraine. Global benchmark Brent topped $122 a barrel, hitting a two-month high.... 

Altus discovers high-grade gold prospects at its Egypt projects

By: Tasneem Bulbulia     31st May 2022 Aim-listed Altus Strategies has announced the discovery of multiple high-grade gold prospects from reconnaissance sampling across all four of the company’s projects in Egypt. Moreover, it has also announced the award of two further gold exploration licences, totalling 349 km2, which will increase... 

Sibanye appoints chief regional officers for Americas, Southern Africa

By: Creamer Media Reporter      31st May 2022 Multinational mining and metals group Sibanye-Stillwater has appointed Charles Carter as Americas chief regional officer, with effect from June 1, as the group establishes a regionalised leadership structure to help it deliver on its corporate strategy. The new regionalised leadership structure... 

Talga starts trial mining in Sweden

By: Esmarie Iannucci     31st May 2022 ASX-listed Talga has started trial mining at its Niska South deposit, at the Vittangi graphite project, in Sweden. Following the successful first phase of trial mining in the fourth quarter of last year, the company is planning to extract the balance of the permitted 25 000 t of graphite ore... 

UK govt provides support to Pensana’s Saltend refinery

By: Marleny Arnoldi     30th May 2022 London-listed Pensana’s plans to develop a £150-million rare earths refinery at the Saltend Chemicals Park, in the UK, have been approved by the East Riding of Yorkshire Council (ERYC). Pensana seeks to create a magnet metals supply chain in the UK, especially considering that 90% of the... 

Transnet increasing rail and port capacity allocation for emerging miners 

By: Martin Creamer     30th May 2022 To reduce barriers to entry, improve the ease of doing business and support transformation of the mining sector, measures are to be implemented to increase rail and port capacity allocation for emerging miners, Transnet announced on Monday. Improving access to loading facilities, and simplifying... 

Picture from Creamer Media files.
Rail capacity allocation for emerging miners to be increased.

Atlantic Lithium set to expand Ewoyaa project as visible spodumene observed

By: Tasneem Bulbulia     30th May 2022 Aim-listed lithium explorer and developer Atlantic Lithium has reported the visual identification of spodumene in new drilling at the Ewoyaa lithium project, in Ghana. The company says the new discovery offers potential to significantly expand the resource with spodumene seen over 80 m in... 

Mkango, CoTec to collaborate on downstream rare earth technologies

By: Tasneem Bulbulia     30th May 2022 Aim- and TSX-V-listed Mkango has signed a nonbinding term sheet with environment, social and governance-focused company CoTec Holdings, in relation to investments by CoTec into Mkango and Mkango’s subsidiary, Maginito, and in collaboration in downstream rare earth technologies. The transactions... 

Appian lodges $1.2bn compensation claim against Sibanye 

By: Mariaan Webb     30th May 2022 Private equity funds group Appian Capital Advisory has lodged a claim in the High Court of England and Wales seeking compensation from South Africa-based Sibanye-Stillwater, after the miner in January terminated a $1.2-billion transaction to buy Brazilian mining assets. Appian claimed that... 

Appian lodges $1.2bn compensation claim against Sibanye

Goldman says bull market in battery metals is finished for now

By: Bloomberg     30th May 2022 Goldman Sachs Group said the price of three key battery metals -- cobalt, lithium and nickel -- will drop over the next two years after investors wanting exposure to the green-energy transition piled in too quickly. “Investors are fully aware that battery metals will play a crucial role in the... 

Goldman says bull market in battery metals is finished for now

Glencore bribery cases draw in billionaire former executives 

By: Bloomberg     30th May 2022 The US corruption and market manipulation cases against Glencore include allegations about the conduct of two former executives who formed part of the inner circle of the trading house’s top management for over a decade -- and walked away as billionaires. The US government did not bring any... 

Merrick Garland, US attorney general, speaks during a news conference on the Foreign Corrupt Practices Act at the Department of Justice, in Washington, D.C., on Tuesday, May 24, 2022.
Merrick Garland, US attorney general, speaks during a news conference on the Foreign Corrupt Practices Act at the Department of Justice, in Washington, D.C., on Tuesday, May 24, 2022.

G7 countries say strict environmental rules needed for deep-sea mining

By: Reuters     30th May 2022 The Group of Seven countries on Friday agreed stringent environmental controls should govern deep-sea mining and that they would consent to such mining projects only if they did not seriously harm the marine environment. "We determined that if there is deep-sea mining at all, it should only... 

Aura deploys drill rig to Tiris, Mauritania

By: Darren Parker     27th May 2022 ASX- and Aim-listed Aura Energy has announced that a diamond drill rig has been mobilised from Mauritanian capital city Nouakchott to its 85%-owned Tiris uranium project to begin the 10 000 m infill drilling programme, with results expected in the fourth quarter.   The diamond drilling will... 

Hummingbird working to bring second asset into production following 2021 losses

By: Darren Parker     27th May 2022 Aim-listed Hummingbird Resources has reported a diluted loss a share of $2.78c for the financial year ended December 31, 2021, compared with the earnings a share of $5.02c reported for the 2020 financial year. Hummingbird currently has two core gold projects, the producing Yanfolila gold mine, in... 

Yanfolila gold mine in Mali
Yanfolila gold mine in Mali

Talga grows graphite resource in Sweden

By: Esmarie Iannucci     27th May 2022 ASX-listed Talga has reported a 54% increase in the resource estimate for its Vittangi graphite project, in Sweden, adding more than 10-million tonnes to Europe’s largest graphite resource. The Vittangi project is now estimated to host a mineral resource of some 30.1-million tonnes of graphite... 

South Africa must reform its regulatory environment, make itself investor-friendly – simple  

By: Martin Creamer     26th May 2022 South Africa must reform its regulatory environment and make itself investor-friendly – simple. That is the straight-forward view of Dr Mathews Phosa, who was speaking to Mining Weekly in his capacity as the non-executive vice-chairperson of the high-flying Jubilee Metals Group plc, a London Aim-... 

Picture supplied
Jubilee's Dr Mathews Phosa interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Sovereign Metals to publish ESG framework soon

By: Marleny Arnoldi     26th May 2022 ASX- and Aim-listed Sovereign Metals has taken what it deems proactive steps to establish an environment, social and governance (ESG) framework poised to position it as an industry leader on corporate social responsibility in Malawi, where it is developing the Kasiya rutile project. MD Dr... 

Glencore says its bribery days are over. Now it has to prove it

By: Bloomberg     26th May 2022 Glencore has closed the “cash desks” in London and Switzerland that once dispensed money for bribes. Employees implicated in sweeping, cross-border corruption investigations are gone. New safeguards are in place, and boss Gary Nagle says it’s a “different company.” Now he will have to prove it.... 

An image of the Glencore sign

Copper extends losses on fears of a global recession

By: Reuters     26th May 2022 Copper prices fell for a third day in a row on Thursday and tin slumped to a one-week low as a gloomy economic outlook for top metals consumer China fanned concerns about a global recession, though a soft US dollar lent some support. Three-month copper on the London Metal Exchange was down 0.3%... 

Copper extends losses on fears of a global recession

Atlantic almost doubles size of Ewoyaa drill programme

By: Marleny Arnoldi     26th May 2022 Aim-listed Atlantic Lithium has mobilised three additional drill rigs at the Ewoyaa lithium project, in Ghana, including a diamond core drill rig that is due to arrive on site soon. To date, 9 166 m of reverse circulation drilling has been completed, with assays pending for 52 holes.  

The trouble with lithium

By: Bloomberg     26th May 2022 Elon Musk wants to mine it, China is scouring Tibet for it, battery makers are crying out for it. Lithium, the wonder metal at the heart of the global shift to electric cars, is in a full-blown crisis. Demand has outstripped supply, pushing prices up almost 500% in a year and hindering the... 

Hydrogen can be stored in existing fossil fuel infrastructure for years, world webinar hears  

By: Martin Creamer     26th May 2022 Hydrogen can be stored in existing fossil fuel infrastructure for years if need be, giving it the potential to become a universal energy carrier in the same way as oil is now but without the environmental impact, World Hydrogen Leaders webinar heard this week. Allowing hydrogen to make use of... 

Picture provided.
Hydrogenious LOHC Technologies strategy and implementation head Dr Andreas Lehmann.

Commodities in 'perfect storm' says ERG, as crisis starts super cycle

By: Reuters     26th May 2022 Years of under-investment in mining of metals essential to energy transition, supply shocks and high energy prices will continue to drive commodity prices higher, Eurasian Resources Group (ERG) CE Benedikt Sobotka said on Wednesday. Combined with Covid-related logistical issues and demand for... 

European tungsten miner delists from AIM

By: Creamer Media Reporter      25th May 2022 Tungsten, tin and gold mining company W Resources on Wednesday announced the delisting of its shares from trading on AIM and said that it would seek a relisting on a stock exchange in future, should circumstances allow. Trading in W Resources’ shares was suspended on April 5, owing to the impact... 

Platinum-boosted South African hydrogen electrolyser leaps ahead   

By: Martin Creamer     25th May 2022 The proof-of-concept of the platinum group metals-boosted advanced alkaline electrolyser – the AAE ­– has been successfully completed by Hydrox Holdings of Randburg in a pioneering achievement that offers the potential for South Africa to enter the fray as world demand for hydrogen electrolysers... 

Creamer Media photographer.
Hydrox CEO Corrie de Jager interviewed by Mining Weekly’s Martin Creamer.

Pensana confirms $494m capital cost for its Saltend, Longonjo operations

By: Marleny Arnoldi     25th May 2022 London-listed Pensana has completed a front-end engineering design (FEED) and value engineering study for a rare earth separation hub at the Saltend Chemicals Park, in the Humber Freeport, in the UK. The company aims to establish a rare earth processing hub amid growing concerns over supply... 

Photo by Bloomberg

Severe global battery shortage likely post 2025, GlobalData forecasts

By: Schalk Burger     25th May 2022 Extraction of raw materials will not meet soaring battery demand unless capital markets change course in the face of environmental, social and governance pressures and invest heavily in new mines, says business data and analytics company GlobalData in its 'Batteries – Thematic Research' report.... 

Tharisa confirms results release date

By: Marleny Arnoldi     25th May 2022 Dual-listed chrome and platinum group metals miner Tharisa has confirmed it will release its interim results on May 26. The company expects to report a 50% year-on-year increase in earnings a share for the six months ended March 31 at between $0.32 and $.33.  

Glencore settles most bribery, manipulation investigations 

By: Martin Creamer     25th May 2022 Diversified mining and marketing company Glencore on Wednesday announced the settlement of most of its bribery and market manipulation investigations. This follows almost four years of investigations and a serious environmental social and governance (ESG) overhang over the group, 

Picture supplied
Glencore CEO Gary Nagle.

Britishvolt CIO appointed as nonexec director of Eastinco

By: Darren Parker     24th May 2022 Eastinco Mining and Exploration, an exploration and development company with a portfolio of Africa-focused critical and strategic metal assets, has announced its intention to appoint gigaplant developer Britishvolt CIO Kasra Pezeshki to the board as a nonexecutive director of the company, which... 

Ferrous metals, coal most exposed to climate risk in metals and mining sector – Fitch  

By: Tasneem Bulbulia     24th May 2022 Thermal coal, blast furnace-basic oxygen furnace (BF-BOF) steelmaking and its raw materials are the segments of the metals and mining sector that are most vulnerable to long-term climate risks owing to their large direct emissions, credit ratings agency Fitch Ratings says. Demand for many... 

Chaarat grows Tulkubash resource estimate

By: Creamer Media Reporter      24th May 2022 The 2021 drilling programme at Tulkubash has added about a year to the project’s mine life, Aim-listed Chaarat Gold reported on Tuesday. The drilling delivered a 13% increase in gold in the ore reserve to 647 000 oz at a grade of 0.87 g/t. 

Ironveld to buy, refurbish mothballed smelter complex

By: Marleny Arnoldi     24th May 2022 Aim-listed Ironveld has signed heads of terms to acquire 100% of embattled Ferrochrome Furnaces’ (FCF’s) share capital. Ironveld has a high-purity iron, vanadium and titanium project located in the Northern Limb of South Africa’s Bushveld Complex.  

Dividend payouts hit first quarter record, but outlook rocky

By: Reuters     24th May 2022 Mining and oil firms led an 11% jump in dividend payouts to a first-quarter record of $302.5-billion, according to a closely-watched global report, though it warned companies face a growing number of challenges in the months ahead. The war in Ukraine, geopolitical tensions, high energy and... 

Rio and BP to collaborate on biofuel

By: Esmarie Iannucci     24th May 2022 Diversified miner Rio Tinto and petroleum major BP will collaborate on a one-year biofuel trial in an effort to reduce carbon emissions from Rio’s marine fleet. Under the trial, BP is supplying marine biofuel that will be trialled on Rio’s RTM Tasman vessel on a mix of Transatlantic and... 

Image shows Rio's Pilbara ports operations

Sevenfold increase in yearly clean hydrogen needed to hit 2050 net-zero target  

By: Martin Creamer     23rd May 2022 Annual production of clean hydrogen would need to increase more than sevenfold for the world to hit net zero in 2050, say the leading founders of McKinsey & Company’s platform for climate technologies, Bernd Heid of Cologne, Martin Linder of Munich, and Mark Patel of San Francisco, who add that... 

AdobeStock solar pic
South Africa's sun and wind can contribute to crucial job creation.

Shanta’s West Kenya drilling programme identifies exceptional high-grade areas

By: Tasneem Bulbulia     23rd May 2022 Aim-listed Shanta Gold’s last phase of drilling at the West Kenya project, in Kenya, has continued to deliver “outstanding” results, ensuring that this remains the most consistently high-grade drilling programme that the company has ever conducted at any asset in Shanta’s history, CEO Eric Zurrin... 

An image showing visible gold from Shanta Gold's drilling programme
Visible gold

Akobo confident its Segele mine will generate $50m in free cash flow in two years

By: Marleny Arnoldi     23rd May 2022 Ethiopia-focused gold miner Akobo Minerals has declared an inaugural cash flow estimate for the Segele mine of $42-million in 2023 and $15.1-million in 2024. The mine is on track to start producing gold early in 2023.  

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