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Europe News

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.  

Nornickel cuts estimate of 2022 global palladium deficit

By: Reuters     23rd May 2022 Russia's Nornickel expects a global palladium market deficit at 100 000 troy ounces and a global nickel market surplus of 37 000 t in 2022, it said on Monday, downgrading both estimates from its February forecast. Western sanctions imposed on Moscow after it sent tens of thousands of troops into... 

Oriole achieving good progress on sampling in Cameroon

By: Tasneem Bulbulia     23rd May 2022 Aim-listed Oriole Resources has achieved good progress during an early-stage sampling programme on the eastern portion of its 90%-owned Central Licence Package (CLP) in central Cameroon, CEO Tim Livesey says. The district-scale CLP comprises eight contiguous licences of previously unexplored... 

Metals traders ‘self sanction’ key Russian palladium, disrupting markets

By: Bloomberg     23rd May 2022 A reluctance by precious-metals traders to handle Russian-produced palladium is creating an unusual and persistent dislocation between the world’s two main markets. In the European hubs of London and Zurich, traders can select the origin of metal they receive, while those taking delivery of a New... 

Metals traders ‘self sanction’ key Russian palladium, disrupting markets

Unloved since Fukushima, uranium is hot again for miners

By: Reuters     20th May 2022 Uranium miners are racing to revive projects mothballed after the Fukushima disaster more than a decade ago, spurred by renewed demand for nuclear energy and a leap in yellowcake prices after Russia's invasion of Ukraine. Spot prices for uranium have doubled from lows of $28 per pound last year... 

An image of uranium

Platinum jewellery continuing to drive 25% of platinum demand  

By: Martin Creamer     20th May 2022 Several reports published during Platinum Week indicate that in 2021, platinum jewellery consumed anywhere between 1.6-million ounces to two-million ounces of platinum, which makes it still the second demand source after automotive, coming in at around 25% of total platinum demand. Positive... 

Picture supplied.
Platinum Guild International CEO Huw Daniel interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Europe aims to revive magnesium output by 2025 to cut China reliance

By: Reuters     20th May 2022  EU policymakers have launched a drive to restart domestic output of magnesium, used in aluminium and steel products, with at least three firms working on projects, according to documents and officials. A European Commission staff working document made available to Reuters places a new emphasis... 

Payouts from top Russian gold miner to fund Islamic charity after sanctioned billionaire exits

By: Bloomberg     20th May 2022 Russia’s top gold miner Polyus PJSC -- long controlled by the family of sanctioned billionaire Suleiman Kerimov -- will be used to fund charity work after an Islamic foundation became its biggest shareholder. Last week, Said Kerimov -- son of the billionaire first sanctioned by the US in 2018 --... 

Finnish Industry ready for end of Russian natural gas imports

By: Bloomberg     20th May 2022 As Finland braces for an expected halt in natural gas flows from its top supplier Russia, some of the largest industrial users are getting ready. There’s a “real risk” the taps will be turned off as soon as Friday, according to estimates by importer Gasum Oy, which has refused to pay in rubles.... 

Arconic to Sell Russian operations, take $500m charge

By: Bloomberg     20th May 2022 Arconic Corp said it will sell its Russian operations, joining the exodus of US companies after the invasion of Ukraine made doing business in the region “untenable.” The Pittsburgh-based aluminum-sheet manufacturer expects to record a charge of as much as $500-million related to the move.... 

FFI backs the EU's renewable plan

By: Esmarie Iannucci     20th May 2022 Green energy developer Fortescue Future Industries (FFI) has welcomed the European Commission REPowerEU plan to rapidly reduce dependence on Russian fossil fuels and tackle the climate crisis. The European Commission earlier this week presented the REPowerEU plan in response to the global... 

Critical mineral demand of order of magnitude never seen – Sheila Khama  

By: Martin Creamer     19th May 2022 "My genuine sense is that we are going to see a growth in the mining sector of an order of magnitude we haven't seen. I also think that we're going to find that the need for minerals is going to force the world to think that if we can't get minerals on our shore, where else do we get them from? 

Picture supplied
Mining stalwart Sheila Khama spoke to Mining Weekly’s Martin Creamer on critical metals. Video: Darlene Creamer.

Gravitricity, Arup secure grant to develop below-ground hydrogen storage

By: Tasneem Bulbulia     19th May 2022 Edinburgh-based energy storage specialist Gravitricity and global built environment consultancy Arup have secured £300 000 from the UK Department of Business Energy & Industrial Strategy (BEIS) to study the feasibility of storing hydrogen in purpose-built underground shafts. Gravitricity and Arup... 

Europe gives another lofty boost to green hydrogen, electrolyser targets

By: Martin Creamer     19th May 2022 The European Commission this week took firm steps to again boost green hydrogen production and electrolyser manufacture amid sharply rising consumption targets. The commission’s latest RePowerEU proposals include the raising of its 2030 renewable hydrogen consumption targets for industry to 75%,... 

Picture from archive.
Renewable hydrogen consumption targets elevated.

Botswana Diamonds identifies anomalies indicative of kimberlite pipes

By: Tasneem Bulbulia     19th May 2022 Aim- and BSE-listed Botswana Diamonds’ ground geophysics survey on its Sekaka diamonds prospecting licences, in Botswana, have revealed high-interest anomalies indicative of kimberlite pipes discovered in the vicinity of the KX36 diamond discovery. “These results strongly support our view that... 

Manganese mine rail-loading boost being assessed by South32 

By: Martin Creamer     19th May 2022 Diversified mining company South32 is assessing the potential expansion and modernisation of rail loading infrastructure at its Wessels manganese mine in South Africa’s Northern Cape, says South32 CEO Graham Kerr. Kerr, who presented at the Bank of America Global Metals, Mining & Steel Conference... 

Slide screenshot.
Accelerated operational decarbonisation.

Edenville seeks to end contract mining arrangement with NextGen

By: Marleny Arnoldi     18th May 2022 Aim-listed Edenville Energy is in discussions with NextGen Coalmine to vary the existing contract mining arrangement the companies have on the Rukwa coal project, in Tanzania, and to potentially take back control of the operations. Edenville believes this will enable the company to capture a... 

Collaboration needed to make South African mining globally competitive again – CSIR 

By: Martin Creamer     18th May 2022 Concern about mineral resource scarcity is widespread and, at the same time, many countries, such as Australia, Canada and China, are investing significantly in strengthening their mining-related research, development and innovation (RDI) capabilities. “This makes cost and differentiation... 

Picture supplied.
CSIR CEO Dr Thulani Dlamini

Iamgold secures 51% stake in Oriole’s Senala projejct

By: Darren Parker     18th May 2022 Aim-listed exploration company Oriole Resources has announced that its joint venture (JV) partner Iamgold has met the requirements for earning 51% ownership in the Senala gold project, in Senegal. In February, Iamgold notified Oriole that it had duly exercised the first option outlined in an... 

Gold refiner to stop working with mines that miss carbon goals

By: Bloomberg     18th May 2022 One of the world’s biggest gold refineries will look to stop sourcing metal from mines that fail to meet standards on carbon emissions. MKS PAMP plans to curb emissions that come from its supply chain by 27.5% before the end of the decade, the company said in a statement Wednesday. As a result... 

Uranium specialist Patrick Mutz joins Aura board

By: Tasneem Bulbulia     18th May 2022 ASX- and Aim-listed Aura Energy has appointed Patrick Mutz as an independent nonexecutive director of the company, effective May 18. Aura is focused on the development of its 85%-owned Tiris uranium project, in Mauritania. 

De Beers generates $604m in fourth sales cycle

By: Marleny Arnoldi     18th May 2022 Diamond miner De Beers has generated $604-million in revenue for its fourth sales cycle of this year. This compares to revenue of $566-million recorded for the third sales cycle of of this year and $385-million for the fourth sales cycle of 2021.  

Cora records positive drilling results at Mali project

By: Tasneem Bulbulia     18th May 2022 2022 drill programme at its Sanankoro gold project, in southern Mali, and CEO Bert Monro says the latest results from Zone B North once again show shallow oxide mineralisation of good widths and grade. Reverse circulation (RC) drilling highlights from Zone B North include 17 m at 2.85 g/t gold... 

Caterpillar eyes energy transition as growth driver for mining business

By: Reuters     18th May 2022 Construction equipment maker Caterpillar believes demand for critical minerals as the clean energy transition gathers pace will translate to solid returns for its mining business, CEO Jim Umpleby said in an interview on Tuesday. The company is aiming at a global market worth about $5-trillion for... 

MRC looks to partner with Mitsubishi in Europe

By: Esmarie Iannucci     18th May 2022 ASX-listed Mineral Commodities (MRC) has struck a memorandum of understanding with Japanese major Mitsubishi Chemical Corporation (MCC) to collaborate on graphitic anode materials supply in Europe. The two companies will explore collaboration opportunities under two phases. 

PGI’s latest jewellery review shows continued demand for premium platinum products

By: Darren Parker     17th May 2022 Market development organisation Platinum Guild International (PGI) has released its latest Platinum Jewellery Business Review (PJBR), in which it highlighted platinum’s prestigious image among jewellery retailers across the globe and their customers. “Platinum’s unique qualities continue to... 

a platinum ring

Law firm drawing on giga-scale hydrogen project experience to derisk new ventures  

By: Martin Creamer     17th May 2022 Lack of expertise about getting giga-scale hydrogen projects off the ground is a big problem in the industry, say Allen & Overy South Africa’s Alessandra Pardini and Alexandra Cluver, who believe they know how best it should be done from experience gained through project managing three of the... 

Pictures supplied
International law firm speaks to Mining Weekly’s Martin Creamer on giga-scale hydrogen projects. Video: Nicholas Boyd.

Trafigura wants to build lithium business to tap battery boom

By: Bloomberg     17th May 2022 Trafigura Group said its plan to invest in a new UK lithium refinery will mark the start of the trading giant’s foray into buying and selling the crucial battery metal. Last week’s agreement to back the plant being developed by startup Green Lithium brings the world’s top independent commodities... 

Trafigura wants to build lithium business to tap battery boom

Galileo reports positive exploration progress at its Luansobe copper project

By: Darren Parker     17th May 2022 Aim-listed Galileo Resources has announced positive exploration progress at its Luansobe copper project, in Zambia. The project is situated on the Zambian copper belt, where Galileo holds a 75% interest in a small-scale exploration licence. So far, portable X-ray fluorescence (pXRF) spectroscopy... 

Matthew Glowasky steps down from Petra board

By: Tasneem Bulbulia     17th May 2022 Matthew Glowasky has resigned as nonexecutive director of Petra Diamonds, with immediate effect. Glowasky was appointed as a non-independent, nonexecutive director of the company on March 10, pursuant to a nomination agreement between the company and Monarch Master Funding 2 and following the... 

Pursuit settles asset sale

By: Esmarie Iannucci     17th May 2022 Junior explorer Pursuit Minerals has settled the sale of its Scandinavian assets to LSE-listed Kendrick Resources for some A$3.1-million. Pursuit at the start of last year struck an agreement with Kendrick, which was at that point an unlisted company, to divest of its nickel and vanadium... 

CSIRO and Metso Outotec join forces

By: Esmarie Iannucci     17th May 2022 European technology developer Metso Outotec will partner with Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) on a global exclusive cooperation agreement on the delivery of Metso Outetec’s SwirlFlow agitation technology for the bauxite and alumina sector outside... 

Johnson Matthey predicts smaller platinum surplus, palladium and rhodium deficits

By: Reuters     17th May 2022 A surplus in the platinum market should shrink this year and the palladium and rhodium markets are likely to move back into deficit, Johnson Matthey said in a report on Monday. The three metals are used in autocatalysts that reduce emissions from vehicle engines, with platinum also used in other... 

Botswana sees Russian diamond ban opening door to synthetic gems

By: Reuters     16th May 2022 Botswana, Africa's top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems to expand market share, the country's minister told a mining conference on Monday. The United States, the world largest market for natural diamonds, imposed sanctions on Russia's... 

Sibanye-Stillwater hoists first tons from R4bn 4 000-job K4 platinum project 

By: Martin Creamer     16th May 2022 The first tons have been hoisted at Marikana K4, Sibanye-Stillwater’s high-return resumed platinum group metals  (PGM) project, which was largely predeveloped and equipped when acquired from the now defunct Lonmin in 2019. “The K4 project is an unrivalled, top-tier project in the PGM industry,... 

Picture supplied.
The K4 headgear of the new platinum group metals shaft.

World Coal Association welcomes new South African members

By: Tasneem Bulbulia     16th May 2022 Industry body the World Coal Association (WCA) has welcomed two new members to the growing alliance of responsible coal participants. These are Seriti, a major South African mining company that operates seven large-scale thermal coal mines, predominantly supplying State-owned utility Eskom power... 

Gold prices buckle under pressure from 'King Dollar', higher yields

By: Reuters     16th May 2022 Gold prices fell more than 1% to their lowest in three-and-a-half months on Monday as elevated bond yields and a firmer US dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher... 

Chaarat reports fatality at Kapan

By: Creamer Media Reporter      16th May 2022 Aim-quoted gold miner Chaarat Gold on Monday reported a fatality at its Kapan mine, in Armenia. The company stated that an employee of its contractor, S&A Mining, had died in a rockfall underground on May 14. The underground mining area where the incident occurred was closed and an internal and... 

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