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Europe News
Southern Africa has ‘huge potential’ to benefit from the shift to green hydrogen
By: Simone Liedtke 4th March 2021 While there is growing momentum across the world in investing in hydrogen and the related import and export value chains, management consulting company Kearney MD Romain Debarre warns that there is still a lack of supply and demand for the hydrogen economy. While there is a market for hydrogen... →
Dundee’s Tsumeb smelter shutdown extended
By: Creamer Media Reporter 4th March 2021 The Tsumeb smelter shutdown in Namibia has been extended to 40 days, owing to Covid-19-related safety protocols, travel restrictions and an increase in the scope of maintenance work. The shutdown was initially expected to be 30 days, but with the extended timeline, would now return to full... →
Game-changing R3.6bn project positioning Kumba Iron Ore well into the future 
By: Martin Creamer 4th March 2021 Four and a bit years ago Mining Weekly told its readers to keep a look out for the five letters – UHDMS – which stand for ultrahigh dense media separation. At the time, outgoing Kumba Iron Ore CEO Norman Mbazima had told Mining Weekly that these five letters translated into “mouth-watering”... →
ARM board approves R5.7-billion Merensky project at Two Rivers mine
By: Martin Creamer 3rd March 2021 The board of diversified mining company African Rainbow Minerals (ARM) has approved the Merensky reef project at the Two Rivers platinum group metals (PGMs) mine, ARM CEO Mike Schmidt said on Wednesday after the company reported record financial results. The ARM-managed Two Rivers is a joint... →
The major challenge of the mining industry is the imperative of growth – Dr Motsepe
By: Martin Creamer 3rd March 2021 The major challenge of the mining industry is the imperative of growth, African Rainbow Minerals (ARM) executive chairperson Dr Patrice Motsepe said on Wednesday, when the 25 000-employee ARM reported record financial results. “You’ve got to replace the orebody that you’re mining with an equally... →
Catalytic qualities of platinum driving constant innovation – WPIC
By: Donna Slater 3rd March 2021 Having been discovered two centuries ago, the use of platinum as a catalyst is driving new catalyst applications, reports platinum demand investment stimulator the World Platinum Investment Council (WPIC). In the early decades of the nineteenth century, scientist Sir Humphry Davy stumbled on the... →
Work on proposed handover of Rukwa ongoing
By: Tasneem Bulbulia 3rd March 2021 Aim-listed Edenville Energy says it is continuing to work with its strategic partner Infrastructure and Logistics Tanzania regarding the proposed handover of operations at its Rukwa coal project in south-west Tanzania. The company plans to provide shareholders with a further update as soon as a... →
Nornickel warns on output as two mines remain partly suspended
By: Reuters 3rd March 2021 Russia's Norilsk Nickel expects production losses as its two major mines remain partly suspended due to an ingress of water, CEO and top shareholder Vladimir Potanin said on Wednesday, adding that it would calculate the losses by March 9. Nornickel, the world's largest palladium producer and a... →
ARC to own 78.2% of Kropz following latest equity facility drawdowns
By: Marleny Arnoldi 3rd March 2021 Aim-listed phosphate developer Kropz has made a quarterly drawdown request on its new equity facility with major shareholder African Rainbow Capital (ARC) Fund. The company has two equity facilities, with the first comprising an amount of $40-million and the second comprising up to $5-million. →
African Rainbow Minerals' earnings soar 134%, interim dividend declared
By: Martin Creamer 3rd March 2021 Despite Covid-19-related global economic challenges and uncertainty, African Rainbow Minerals (ARM) on Wednesday reported record headline earnings of R5 039-million for the six months to December 31. This represented a 134% increase compared with the corresponding of 2019 and was underpinned by... →
African Rainbow Minerals executive chairperson Dr Patrice Motsepe
Polymetal reports record net profit on higher gold prices
By: Reuters 3rd March 2021 Polymetal, one of Russia's largest gold and silver producers, said on Wednesday its 2020 net earnings rose to a record high of $1.-billion due to stronger global prices for precious metals and higher sales of gold. "We are pleased to report record net earnings for the year amidst a challenging... →
UN chief urges wealthy nations to phase out coal use by 2030
By: Reuters 3rd March 2021 UN Secretary-General Antonio Guterres on Tuesday called on wealthy nations to end coal use by 2030 so the world can meet its goals to curb global warming, urging G7 nations to make that commitment before or at a leaders' summit in June. In a video message to a virtual gathering of the "Powering... →
Mining magnets: Arctic island finds green power can be a curse
By: Reuters 3rd March 2021 In the tenth century, Erik the Red, a Viking from Iceland, was so impressed with the vegetation on another Arctic island he had found he called it "the green land". Today, it's Greenland's rocks that are attracting outsiders - superpowers riding a green revolution. The world's biggest island has... →
Pensana bolsters board with appointment of new nonexec director
By: Creamer Media Reporter 2nd March 2021 London-listed Pensana has appointed Dr Jeremy John Beeton as a nonexecutive director, with immediate effect. "We warmly welcome Jeremy to the board. As we move into the financing and construction phase of the Saltend processing facility and the mine development in Angola, Jeremy brings extensive... →
Battery metals firm to list on OTCQX
By: Creamer Media Reporter 2nd March 2021 Euro Manganese, which is developing a project in the Czech Republic, will be listing on the OTCQX trading system in response to growing US investor interest in its Chvaletice project. The project is designed to produce high-purity manganese products for the automotive battery industry and other... →
PGMs project will ensure Marikana’s sustainability for 50 years-plus – Sibanye
By: Martin Creamer 2nd March 2021 The unrivalled and tier-one K4 platinum group metals (PGMs) project in North West province will ensure sustainability of Marikana for over 50 years, Sibanye-Stillwater CEO Neal Froneman told the BMO conference on Monday. Speaking on a YouTube presentation covered by Mining Weekly, the head of the... →
Sibanye-Stillwater CEO Neal Froneman
Fresnillo annual profit soars, cautious on 2021 outlook
By: Reuters 2nd March 2021 Precious metals miner Fresnillo reported a sharp jump in full-year pre-tax profit on Tuesday, boosted by strong gold and silver prices, but the company said it remains cautious for 2021 due to the continued impact of the pandemic in Mexico. The South American nation's largest gold producer said... →
Alrosa reports 49% fall in profit
By: Reuters 2nd March 2021 Russian State-controlled diamond producer Alrosa on Tuesday reported a 49% fall in 2020 net profit to 32.2-billion roubles ($432-million) on lower sales and a weaker rouble. The world's largest producer of rough diamonds, which competes with Anglo American unit De Beers, said output fell by 22%... →
New rare earth initiative spanning Europe and North America launched
By: Creamer Media Reporter 2nd March 2021 Rare earth company Neo Performance Materials has teamed up with US-based Energy Fuels to launch a new production initiative, spanning European and North American critical material supply chains. The initiative will produce value-added rare earth products from natural monazite sands, a byproduct... →
Super-cycling PGMs being shielded from demand-hit repeat of 2000s – Froneman
By: Martin Creamer 2nd March 2021 Platinum group metals (PGMs) are moving into a super cycle and producers are working with end-users to prevent the metals going through a repeat of the demand-destruction phase that took place in the early 2000s, Sibanye-Stillwater CEO Neal Froneman told the BMO conference on Monday. Speaking on... →
Mining deals to pick up as world reopens, leading adviser says
By: Bloomberg 2nd March 2021 Deals among cashed-up mining companies are poised to pick up once lingering uncertainties from the pandemic dissipate, according to the most-active investment bank in the industry. Miners are flush with cash and ready to expand through acquisitions, with resurgent demand and supply shortfalls... →
Nornickel operations chief to leave in management shake-up
By: Reuters 1st March 2021 Russian metals producer Norilsk Nickel's (Nornickel) COO Sergey Dyachenko is leaving the company as part of a management restructuring. The shake-up follows a number of environmental and industrial accidents at the world's largest producer of palladium and major producer of nickel. The company... →
GoldStone defers gold loan further, plans to raise additional funding
By: Tasneem Bulbulia 1st March 2021 Aim-listed GoldStone Resources has agreed with Asian Investment Management Services (AIMS) a further deferment of the gold loan interest payment to June 30 (previously deferred to March 31), and the exercise of warrants by AIMS of over 40-million new ordinary shares which provides £1.2-million of... →
Gemfields confirms phased resumption of Kagem, Montepuez operations
By: Tasneem Bulbulia 1st March 2021 Gemstone miner Gemfields on March 1 confirmed that its 75%-owned Kagem Mining emerald mine in Zambia, as well as its 75%-owned Montepuez Ruby Mining (MRM) ruby mine, in Mozambique, are set to restart production in a phased manner during March. Mining operations are expected to ramp up to... →
Tycoon Usmanov’s firms to build plant for greener iron products
By: Bloomberg 1st March 2021 Companies controlled by billionaire Alisher Usmanov will build a plant in central Russia to supply greener products used to make steel amid a growing focus to clean up the industry. A joint venture between USM and its Metalloinvest Holding's iron-ore mine will invest 40-billion rubles... →
Platinum jewellery had a strong fourth quarter, says the PGI
By: Marleny Arnoldi 1st March 2021 In the fourth quarter of last year, platinum outperformed other jewellery categories such as gold and delivered remarkable 14% year-on-year growth in fabrication. The Platinum Guild International (PGI) reports that, although China’s economy ended on a high note in the fourth quarter, retail... →
Musk says nickel is 'biggest concern' for EV batteries
By: Bloomberg 1st March 2021 Elon Musk has had it with nickel. It’s scarce and expensive, so the chief executive officer of electric-carmaker Tesla tweeted last week that the company’s shifting some cars to a type of battery that uses iron instead. Musk has previously pleaded with miners to produce more nickel. Supplies... →
Anglo CEO talks hydrogen, recycling, Scope 3, material solutions provision
By: Martin Creamer 1st March 2021 The surge of the hydrogen economy, the need to recycle, halving Scope 3 emissions through iron-ore-linked green steelmaking, assisting South Africa to create new industries, and becoming a one-stop material solutions provider, were among the issues discussed by Anglo American CEO Mark Cutifani in... →
Danakali does away with CEO role, reappoints Cornelius as chair
By: Marleny Arnoldi 26th February 2021 LSE- and ASX-listed Danakali has reappointed nonexecutive chairperson Seamus Cornelius as executive chairperson. He will also assume Niels Wage’s responsibilities as CEO. →
Fitch raises metals, mining price assumptions in line with returning demand, low inventories
By: Donna Slater 26th February 2021 Ratings agency Fitch Ratings has revised some of its metals and mining price assumptions in line with that it sees as commodity prices being set to benefit in the short term from returning demand, as well as slow supply response and low inventories. The agency’s revision of all iron-ore price... →
Keras commits continual funds for community development
By: Marleny Arnoldi 26th February 2021 As part of its environment, social and governance (ESG) initiatives, Aim-listed Keras Resources has announced it will contribute 0.75% of manganese sales revenue from the Nayéga mine, in Togo, once it is developed, to be used for community projects in the vicinity. The contribution will be made... →
Indonesia says 'ready to fight' EU at WTO over nickel export curbs
By: Reuters 26th February 2021 Indonesia is "ready to fight" the European Union's challenge of the Southeast Asian country's ban on nickel ore exports at the World Trade Organisation, arguing the bloc's actions may hinder Indonesia's development plans, the Trade Minister said. Once the world's biggest exporter of nickel,... →
Day succeeds Gray at Scotgold
By: Mariaan Webb 26th February 2021 Scottish gold miner Scotgold CEO Richard Gray will retire as CEO of the company at the end of March and will hand over reins to investment company Pala Investments’ head of technical operations Philip Day. Gray, who oversaw the transition of Scotgold into a gold miner and producer, will become... →
Eldorado gold output up 34% despite Covid impacts
By: Mariaan Webb 26th February 2021 Canadian miner Eldorado Gold has bolstered its gold production by 34% to 528 874 oz in 2020, achieving the guidance that it has set out for the year, despite the impacts of the Covid-19 pandemic. The higher output was primarily due to an increase in tonnes of ore stacked and placed under heap... →
Copper’s spike brings back supercycle-era fears of substitution
By: Bloomberg 26th February 2021 In the frenzy of copper’s record run a decade ago, manufacturers making wires and pipes rapidly went in search of cheaper substitutes, in a trend that left a lasting dent in demand. With prices spiking again, the allure of alternatives has never been greater. A rally above $9 000 a metric ton... →
Deal for key metal in EV revolution brought bonanza for newcomer
By: Bloomberg 25th February 2021 A transfer of lucrative cobalt and copper assets by the Democratic Republic of Congo’s state mining company enabled a little-known investor to make $40 million within weeks. The transaction and almost immediate resale of control of the assets to Eurasian Resources Group is the latest deal in... →
Uranium poised for growth in 2021
By: Marleny Arnoldi 25th February 2021 Potential further suspensions in the operations of uranium mines this year as a result of second or even third waves of Covid-19 infections could drive the uranium price higher. During a webinar hosted by Africa Mining Forum on February 25, Canada-listed GoviEx Uranium CEO Daniel Major said... →
Gemfields to reopen Kagem emerald mine after nearly a year of standstill
By: Marleny Arnoldi 25th February 2021 UK-headquartered Gemfields has confirmed that its 75%-owned Kagem emerald mine, in Zambia, will reopen principal operations in a phased manner starting in the second week of March. As a result of the Covid-19 pandemic all but critical operations at the mine have remained suspended since March... →
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