R/€ = 17.33 Change: -0.03
R/$ = 14.58 Change: -0.03
Au 1824.48 $/oz Change: 9.12
Pt 1055.50 $/oz Change: -23.00

Europe News

Cornish Lithium raises £6m in crowdfunding for projects

By: Creamer Media Reporter      21st June 2021 UK-based exploration and development firm Cornish Lithium has raised another £6-million in crowdfunding to progress its geothermal and hard rock projects in Cornwall. The company on Monday opened the opportunity to pre-registered investors and reached its target within 20 minutes. 

Pensana says enjoys strong support from shareholders for equity raise

By: Simone Liedtke     21st June 2021 Rare earths producer Pensana continues to enjoy strong support from its existing shareholders, raising £15-million to progress early-stage construction at its Saltend facility, in the UK, and at its Longonjo mine in Angola, ahead of the main financing, which is currently targeted for the fourth... 

Russian billionaire Potanin will not join in Nornickel buyback

By: Reuters     21st June 2021 Russian billionaire Vladimir Potanin has decided not to take part in a buyback of Nornickel shares, his Interros Holding said on Friday, increasing the proceeds of aluminium producer Rusal from the deal. Potanin owns a 34.6% stake in Nornickel, which plans to buy up to 3.4% of its shares for... 

Weekly Coal Index Report

21st June 2021 The price surge has subsided for now, although Asia Pacific physical cargoes continue to experience strong demand. Australian coal is likely to remain the price leader as deliveries to the port of Gladstone are being restricted after a train derailment last week. For its part, South African coal... 

Weekly Coal Index Report

Hochschild says 27 workers dead in bus accident

By: Creamer Media Reporter      21st June 2021 Precious metals miner Hochschild said that 27 workers were killed and 13 injured a road accident on Friday morning. A bus operated by a contractor was carrying workers from the Pallancata operation to the city of Arequipa in southern Peru when the accident happened. 

Pensana raises £15m for early works in Angola

By: Marleny Arnoldi     18th June 2021 London-listed rare earths miner Pensana has successfully raised £15-million, or $21-million, through the issue of 12.5-million new shares, at a price of 120p apiece. Some uptakers of the latest fundraising include SI Capital, WH Ireland and Angolan sovereign wealth fund Fundo Soberano de Angola... 

Petropavlovsk sold stake for 75% less than rival proposal

By: Bloomberg     18th June 2021 Crisis-hit gold miner Petropavlovsk accepted a bid for an iron-ore investment, even as another bidder was prepared to pay four times as much, according to the frustrated suitor. The revelation is likely to raise fresh questions for London-listed Petropavlovsk and its board, which has been... 

Petropavlovsk sold stake for 75% less than rival proposal

Wood Mackenzie buys consultancy Roskill to expand energy transition offering

By: Reuters     18th June 2021 Natural resources consultancy Wood Mackenzie said on Friday it had acquired privately-owned Roskill as it expands its expertise in the metals and materials crucial for the energy transition. 

One of the world’s hottest commodities is now the most volatile 

By: Bloomberg     18th June 2021 Iron-ore, one of the hottest commodities in the early days of the raw materials rally, has now become the most volatile as bulls and bears joust over the trajectory of prices. In a series of wild swings, the ore that fuels China’s vast steel industry surged to a record, collapsed into a bear... 

One of the world’s hottest commodities is now the most volatile

Gold heads for its biggest weekly loss in more than a year

By: Bloomberg     18th June 2021 Gold headed for the biggest weekly loss in 15 months as the Federal Reserve’s hawkish tilt sent the dollar surging. Officials signaled monetary policy tightening could start earlier than expected, with Chair Jerome Powell saying that the central bank would begin a discussion about scaling back... 

RMF encourages extractives supply chain disclosure of transactions with States 

By: Donna Slater     18th June 2021 Research done by independent research organisation the Responsible Mining Foundation (RMF) has found that very few of the trading companies making transactions in extractive value chains, including for metals, minerals and oil and gas, publicly disclose data on these payments to governments,... 

Next chapter for Minto as it is set to go public

By: Mariaan Webb     18th June 2021 Yukon-based Minto Explorations will go public on the TSX-V by way of a reverse takeover, London-listed Pembridge Resources has announced. Pembridge, which acquired Minto in 2019, said this week that Minto Explorations would be renamed Minto Metals. The company would seek to raise C$45-million... 

Tribunal approves Sandvik's acquisition of DSI

By: Schalk Burger     17th June 2021 The Competition Tribunal has approved the acquisition of underground mining and tunnelling multinational DSI Underground by mining engineering multinational Sandvik, with employment conditions. After the merger, Sandvik will acquire sole control of DSI and Jennmar, which is a South African joint... 

Sasol able to produce green hydrogen within 24 months – CEO   

By: Martin Creamer     17th June 2021 Synthetic fuels and chemicals company Sasol is in a position to be able to produce green hydrogen within the next 24 months, Sasol CEO Fleetwood Grobler said on Thursday. Grobler was responding to Absa group industrials research head Christina Steyn, who moderated an SA Tomorrow panel discussion... 

From top left, clockwise, Christina Steyn, Natascha Viljoen, Dmitri Bessarabov and Fleetwood Grobler
JSE hydrogen panel discussion covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Kropz submits quarterly funding drawdown requests

By: Tasneem Bulbulia     17th June 2021 Aim-listed emerging African phosphate explorer and developer Kropz has made its quarterly drawdown requests under the equity facilities with its major shareholder, the African Rainbow Capital (ARC) Fund. Kropz has two equity facilities, with the first being for an amount of $40-million, and the... 

Kibo Energy seeks to sell coal assets as its focus shifts to renewables

By: Simone Liedtke     17th June 2021 Africa and UK-focused energy company Kibo Energy’s primary focus going forward will be on renewable energy opportunities, part of which will see Kibo jointly develop a portfolio of waste-to-energy projects in South Africa. Kibo, therefore, intends to appoint specialist advisers to assist it in... 

Trial mining begins at Zijin's Serbian copper mine

By: Mariaan Webb     17th June 2021 Trial mining has begun at the upper zone of the Cukaru Peki copper and gold mine, in Serbia, owner Zijin Mining reported this week. The Serbian Ministry of Mines and Energy recently issued Zijin a trial production permit for the processing facilities. The trial production phase would continue... 

Trial mining begins at Zijin's Serbian copper mine

Greenland’s Dundas mine jumps final regulatory hurdle

By: Mariaan Webb     17th June 2021 The Dundas ilmenite project, in Greenland, has been received its final government-level approval required before construction can start, with the approval of its exploitation and closure plan. The government in December awarded an exploitation licence for the project, which London-listed Bluejay... 

Greenland’s Dundas mine jumps final regulatory hurdle

Nornickel fund launches nickel and copper ETCs on LSE

By: Creamer Media Reporter      17th June 2021 Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, on Thursday announced that its Global Palladium Fund (GPF) had launched exchange traded commodities (ETC) for nickel and copper on the LSE giving markets access to low-cost base... 

Colluli test work completed, process design optimised

By: Tasneem Bulbulia     17th June 2021 Dual-listed Danakali’s Colluli Mining Share Company (CMSC) has completed its test work for the Colluli sulphate of potash (SoP) project, in Eritrea, and optimised its process design using filtered seawater, significantly reducing capital expenditure, operating expenditure and maintenance costs.... 

CEO vacuum at AngloGold turns it into world’s worst mining stock 

By: Bloomberg     17th June 2021 AngloGold Ashanti has had a bad year, with the company’s lack of a permanent chief executive officer and a suspension of its Ghana mine operations weighing on the stock. But with shares now cheap compared with peers, analysts see potential for upside. Shares of the world’s third-largest gold... 

Rio Tinto confirms Peter Cunningham's appointment as CFO

By: Schalk Burger     17th June 2021 Diversified miner Rio Tinto has appointed Peter Cunningham CFO with immediate effect. He has been interim CFO since January 1, and will also join the Rio Tinto board as an executive director. 

Global atlas of freshwater life will use eDNA to tackle extinction crisis

By: Simone Liedtke     17th June 2021 A global atlas of freshwater life will use environmental DNA, or eDNA, to tackle the extinction crisis through the eBioAtlas programme, which will gather data at scale to support conservation, unlock investment and inform world biodiversity policy. The International Union for Conservation of... 

LME to donate $1.7m to responsible sourcing projects in Africa

By: Reuters     16th June 2021 The London Metal Exchange said on Wednesday it will donate $1.7-million to the charities Pact and the Impact Facility to fund two responsible sourcing projects in Zambia and the Democratic Republic of Congo. The projects will focus on tackling child labour and children's rights issues in mining... 

Cobalt supply must double by 2030 to meet demand - Trafigura exec

By: Reuters     16th June 2021 Cobalt supply will need to double by 2030 from current levels to meet surging demand for the key ingredient used in electric vehicles, commodity trading house Trafigura's head of nickel and cobalt trading said on Wednesday. "We estimate that we need twice as much (cobalt) supply by 2030,"... 

Botswana unearths world's third largest diamond

By: Reuters     16th June 2021 A 1 098 ct diamond believed to be the third-largest gem-quality stone ever to be mined, has been discovered in Botswana, according to a joint venture between Anglo American's De Beers and the government. The stone was presented to President Mokgweetsi Masisi on Wednesday by Debswana Diamond... 

The 1 098 ct diamond recovered at Debswana's Jwaneng mine
Photo by Reuters
The 1 098 ct diamond recovered at Debswana's Jwaneng mine

Aus miners welcome FTA with UK

By: Esmarie Iannucci     16th June 2021 The Minerals Council of Australia (MCA) has welcomed a free trade agreement (FTA) between Australia and the UK, saying it will create more opportunities for business-led growth. Prime Ministers Scott Morrison and Boris Johnson have agreed on the broad outlines of an Australia-UK FTA, allowing... 

Canada, EU in raw materials pact to cut China reliance

By: Bloomberg     16th June 2021 Canada and the European Union launched a new partnership to secure supply chains for critical minerals and reduce dependence on China in a push for jobs and to counter climate change. “With EU partners, we talked about what we can do to build a cleaner economy for years to come,” Canadian Prime... 

 Justin Trudeau, left, Charles Michel, and Ursula von der Leyen speak following an EU and Canada summit in Brussels, on June 15.
Justin Trudeau, left, Charles Michel, and Ursula von der Leyen speak following an EU and Canada summit in Brussels, on June 15.

Volkswagen seeks partners for battery materials race

By: Reuters     16th June 2021 Volkswagen is in talks with suppliers to secure direct access to raw materials for electric vehicle (EV) batteries via partnerships, one of its board members told Reuters on Tuesday. The world's second biggest carmaker is trying to exert more control over key components in its supply chain such... 

Volkswagen seeks partners for battery materials race

300-plus vehicle fleets assessed for cleaner, safer mine mobility in five regions – ICMM 

By: Martin Creamer     15th June 2021 As part of the cleaner, safer vehicles initiative of the International Council on Mining and Metals (ICMM), more than 300 vehicle fleets have been assessed for cleaner, safer mobility on more than 300 mines in five regions globally, ICMM health, safety and product stewardship director Sarah Bell... 

ICMM health, safety and product stewardship director Sarah Bell
International Council on Mining and Metals’ Sarah Bell interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Copper’s supercharged rally creaks on signs of softer demand

By: Bloomberg     15th June 2021 Copper’s stellar rally is starting to creak as investors unwind their bullish bets and evidence of demand weakness mounts in China’s powerhouse manufacturing sector. Prices plunged as much as 4.3% in London, crashing through their 50-day moving average to trade at a seven-week low. Copper hit an... 

Copper’s supercharged rally creaks on signs of softer demand

Beowulf CEO seeks answers from Swedish govt on iron-ore mine application

By: Mariaan Webb     15th June 2021 London-listed Beowulf Mining CEO Kurt Budge has again written to the Swedish government seeking clarity on when a decision regarding its Kallak North iron-ore permit application will be forthcoming. Beowulf applied for an exploitation concession eight years ago and has since been struggling to... 

Eurasia progresses Russia PGMs and battery metals JV

By: Creamer Media Reporter      15th June 2021 London-listed Eurasia Mining is progressing plans to create a “globally significant” platinum group metals (PGMs) and battery metals company with partner Rosegeo. Eurasia announced on Tuesday that it had created the first joint venture (JV) company, Monchegorskoe, to hold the licence for the... 

VW CEO chides G7 Leaders for failing to set coal phase-out date

By: Bloomberg     15th June 2021 Volkswagen’s CEO criticized Group of Seven (G7) leaders for failing to set a firm date to phase out coal power, saying it’s senseless to let electric vehicles run on dirty energy. “That’s not enough, @G7. Disappointing outcome,” VW CEO Herbert Diess tweeted Tuesday. “We need to exit coal much... 

South African ferrochrome furnaces need to regain competitive advantage, warns Roskill 

By: Simone Liedtke     15th June 2021 The South African ferrochrome industry has benefitted from recent events in China, which commodity research consultancy Roskill says has removed significant global capacity through the closure of small furnaces. While higher-cost furnaces in southern China have been able to fill the short-term... 

South African ferrochrome furnaces need to regain competitive advantage, warns Roskill

New exploration alliance targets US copper deposits

By: Creamer Media Reporter      15th June 2021 LSE-listed Imperial X and TSX-V-listed Alianza Minerals on Tuesday announced a strategic alliance to explore for copper deposits in the US, with a focus on projects in Arizona, Colorado, New Mexico and Utah. The two companies said the intended to identify new copper exploration opportunities to... 

Centerra CEO weighs ‘divorce’ with Kyrgyzstan on seized mine

By: Bloomberg     14th June 2021 Centerra Gold could part ways with Kyrgyzstan’s government over its seized flagship mine in the Central Asian nation, but the company’s top executive would like to discuss it first. Relations between Centerra and the Kyrgyz Republic have soured so much since the government took control of Kumtor... 

The Kumtor gold mine in Kyrgyzstan
The Kumtor gold mine in Kyrgyzstan

South African coal supply to fall off coal cliff from 2025 onwards – Jones 

By: Martin Creamer     14th June 2021 South African coal supply is set to fall off a coal-cliff from 2025 onwards, African Source Markets CEO Bevan Jones said on Monday. In response to Mining Weekly, Jones cited the three main factors that would cause South African coal supply to plummet as: 

Coal stockpiling at Mpumalanga coal mine.
Coal stockpiling at Mpumalanga coal mine.
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