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Europe News

How high can copper fly? This metals trader expects $12 000

By: Reuters     25th February 2021 Copper could surge above a record to $12 000 a ton in 18 months on new demand from green initiatives, a leading metals trader said, giving one of the most bullish forecasts yet for the metal. The bellwether material has already doubled since a nadir in March to reach a nine-year high, and is... 

Kazakhstan-focused miner KAZ sees earnings rise despite output dip

By: Reuters     25th February 2021 Kazakhstan-focused copper and gold miner KAZ Minerals reported on Thursday stronger annual earnings and lower debt, after rising commodity prices helped offset lower production. The London-listed miner said copper output, which dipped to 306 000 t in 2020 from 311 000 t in 2019, was expected to... 

Implats pursuing renewables, green hydrogen, exploration, carbon neutrality  

By: Martin Creamer     25th February 2021 Platinum group metals (PGMs) mining and marketing company Implats is pursuing green hydrogen, greenfield exploration and carbon neutrality, the company made clear during question time after presenting a stellar set of high-dividend-yielding interim financial results on Thursday, which cut debt by... 

Implats pursuing renewables, green hydrogen, exploration, carbon neutrality
Impala Platinum's Shaft 16 in Rustenburg

Polyus Q4 net profit up 20% y/y on higher gold prices

By: Reuters     25th February 2021 Russia's largest gold producer Polyus said on Thursday that its fourth-quarter net profit rose 20% year-on-year to $835-million due to a 26% increase in gold prices. Its fourth-quarter adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) stood at $1.1-billion, up 29%... 

Polyus Q4 net profit up 20% y/y on higher gold prices

Implats' earnings soar 328%, record R7.9bn interim dividend declared

By: Martin Creamer     25th February 2021 Buoyed by the high rand platinum group metals (PGMs) basket price, Impala Platinum Holdings Limited (Implats) has posted a 328% increase in headline earnings and declared a record interim dividend of R7.9-billion on a strong production, safety and sales performance. Implats delivered stellar... 

Implats' earnings soar 328%, record R7.9bn interim dividend declared
Nico Muller

Nornickel shares drop after partial suspension of operations at two mines

By: Reuters     25th February 2021 Norilsk Nickel said on Wednesday it had partially suspended operations at its Oktyabrsky and Taimyrsky mines in Siberia because it had detected an inflow of water underground, sending shares of the Russian metals miner down more than 6%. Nornickel is the world's largest palladium producer,... 

Poland's KGHM sees copper demand rising amid green energy projects - CEO

By: Reuters     24th February 2021 Polish copper producer KGHM plans to maintain 2021's projected output levels in subsequent years, with higher demand expected on the back of increased investment in green energy projects, its chief executive said. State-run KGHM had considered closing operations when the coronavirus pandemic... 

Petra to start implementing restructure

By: Marleny Arnoldi     24th February 2021 London-listed Petra Diamonds has announced that the scheme conditions effective date has occurred, thereby enabling the start of the implementation of the company’s restructuring. The company expects the restructuring's effective date to be March 10.  

Test mine study under way for Fourth Industrial Revolution try-outs  

By: Martin Creamer     24th February 2021 A feasibility study is under way on a mine selected for the testing of Fourth Industrial Revolution (4IR) technologies ahead of their implementation, Minerals Council South Africa senior executive modernisation and safety Sietse van der Woude said on Wednesday. Van der Woude was answering... 

Test mine study under way for Fourth Industrial Revolution try-outs
Joburg Indaba Modernisation in Mining virtual event covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Minexx pioneers minerals export with certified blockchain payments

By: Tasneem Bulbulia     24th February 2021 Technology provider Minexx has exported minerals with full financial transparency from the Democratic Republic of Congo (DRC), by processing $250 000 of blockchain-certified payments. In a statement, Minexx acclaims that this represents a milestone for the company, as well as the sector, as it... 

The fight to save the LME ring begins as traders warn on pricing

By: Reuters     24th February 2021 The London Metal Exchange is facing broadening resistance to a plan to close its iconic open-outcry trading floor, with German traders and manufacturers joining some members to warn that closing “the Ring” would hurt pricing and volumes. The LME suspended trading on the floor in March, and last... 

Alrosa relaunches plant earlier than planned

By: Creamer Media Reporter      24th February 2021 As conditions in the global diamond market improve, Russian major Alrosa has decided to relaunch the processing plant of its Lomonosov mining and processing division, Severalmaz, on March 1. This is a month earlier than previously planned. The plant is set to process three-million tons of ore... 

Mkango starts flotation pilot testwork at Malawi project

By: Marleny Arnoldi     24th February 2021 Aim-listed Mkango Resources has started with testwork on a pilot flotation plant for the Songwe Hill rare earths project, in Malawi. The pilot programme is being conducted at ALS Metallurgy, in Perth, with a new flotation regime planned to be scaled up as part of the programme.  

Green light for Brazilian Nickel's small-scale Piauí project

By: Creamer Media Reporter      24th February 2021 The Brazilian Piauí State Environmental Agency has issued privately held Brazilian Nickel an installation licence for its PNP1000 project, enabling construction work to begin. PNP1000 is the initial, small scale commercial production project at the Piaui nickel project (PNP). The PNP1000 will... 

Anglo Pacific inks $205m Voisey’s Bay cobalt stream deal

By: Mariaan Webb     24th February 2021 Royalty and streamlining company Anglo Pacific on Wednesday announced the $205-million acquisition of a holding company that owns a 70% net interest in a stream on cobalt production from the Voisey's Bay mine, in Canada, progressing its ambition to focus on commodities that support a more... 

Anglo Pacific inks $205m Voisey’s Bay cobalt stream deal
Vale's Voisey's Bay

Harmony Gold’s hedging realises R902m net gain in six months  

By: Martin Creamer     23rd February 2021 Gold mining company Harmony Gold realised a net gain of R902-million from its hedging in the six months to December 31, Harmony Gold FD Boipelo Lekubo said on Tuesday. In presenting Harmony’s superb set of dividend-yielding half-year results of profit soaring 336% to R5.8-billion in the six... 

Harmony Gold’s hedging realises R902m net gain in six months
Harmony Gold FD Boipelo Lekubo’s financial report covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Kilimapesa sale to be finalised by end-March, says Goldplat

By: Marleny Arnoldi     23rd February 2021 Aim-listed Goldplat has advised that formal documentation relating to Mayflower Gold Investment’s acquisition of the Kilimapesa project, in Kenya, has been signed by all parties. The formal documentation includes a share purchase agreement entered into by Gold Mineral Resources (GMR) – a... 

Nevada and Arizona now the most attractive mining destinations 

By: Mariaan Webb     23rd February 2021 Nevada, in the US, is now the world’s number-one jurisdiction for mining investment, bumping Western Australia from the top of the chart, according to the latest Fraser Institute survey. Arizona, which ranked ninth in 2019, sailed into the second place, while Saskatchewan climbed eight spots... 

Nevada and Arizona now the most attractive mining destinations

Greenfield exploration drilling restarts at Target North gold prospect  

By: Martin Creamer     23rd February 2021 Greenfield exploration drilling has restarted at the Target North prospect in the Free State, which Covid-19 temporarily halted, Harmony Gold CEO Peter Steenkamp told Mining Weekly on Tuesday. Speaking during a Zoom interview after presenting an outstanding set of dividend-yielding  financial... 

Greenfield exploration drilling restarts at Target North gold prospect
Harmony gold CEO Peter Steenkamp interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Supercharged commodity boom: Definitely. Supercycle? Not exactly

By: Bloomberg     23rd February 2021 A surge in commodity prices has Wall Street banks gearing up for the arrival of a new supercycle, but underlying dynamics suggest it isn’t going to be a repeat of the epic China-led boom at the start of this century. Copper heading for new all-time highs, surging agricultural markets and oil... 

Supercharged commodity boom: Definitely. Supercycle? Not exactly

Sibanye-Stillwater makes battery metals entry

By: Mariaan Webb     23rd February 2021 Precious metals miner Sibanye-Stillwater has entered the battery metals sector through an investment in lithium firm Keliber, which has a goal of being the first European company producing high-purity, battery-grade lithium hydroxide from its own ore. The South Africa-based major would make a... 

Sibanye-Stillwater makes battery metals entry
Sibanye-Stillwater CEO Neal Froneman says the investment offers the opportunity for further geographic diversification in an attractive mining destination.

Harmony starts on first 10 MW of own solar, keen to pursue next 20 MW 

By: Martin Creamer     23rd February 2021 Gold mining company Harmony Gold, which is in the process of introducing 30 MW of own-generation solar power into its electricity mix, has begun the phasing in of the first 10 MW of renewable energy generation. “Generating our own power from solar power is the way to go,” Harmony Gold CEO Peter... 

Harmony starts on first 10 MW of own solar, keen to pursue next 20 MW
Harmony Gold mineworkers underground at Masimong gold mine.

Harmony Gold’s profit soars 336% to R5.8bn, dividend declared

By: Martin Creamer     23rd February 2021 The net profit of gold-mining company Harmony Gold soared by 336% to R5.6-billion in the six months to the end of December. The Johannesburg- and New York-listed company, headed by CEO Peter Steenkamp, has added quality ounces to its portfolio, which has been derisked. 

Harmony Gold’s profit soars 336% to R5.8bn, dividend declared
Photo by Creamer Media
Peter Steenkamp

Green hydrogen to be produced from solar power at platinum mine  

By: Martin Creamer     22nd February 2021 Although platinum group metals (PGMs) mining and marketing company Anglo American Platinum will be starting with a 75 MW solar photovoltaic powered plant at its Mogalakwena mine, planned is an eventual 320 MW of solar power generation, the excess from which will be used to produce green hydrogen.... 

Green hydrogen to be produced from solar power at platinum mine
Anglo American Platinum CEO Natascha Viljoen interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

De Beers hikes diamond prices again as revival keeps going

By: Bloomberg     22nd February 2021 De Beers lifted diamond prices at its third consecutive sale as an industrywide recovery from the coronavirus pandemic gathers pace. The world’s biggest diamond producer raised prices by about 4% at its second sale of the year, according to people familiar with the situation who asked not to be... 

De Beers hikes diamond prices again as revival keeps going

Sylvania ‘confident’ of reaching production target for the full year

By: Simone Liedtke     22nd February 2021 Rustenburg-based platinum group metals (PGMs) miner Sylvania Platinum’s Sylvania Dump Operations (SDO) delivered 36 335 oz of platinum, palladium, rhodium and gold (4E) PGMs as a result of a good production performance in the six months ended December 31, 2020. The good production, the Aim-listed... 

Tirupati on a drive to start manufacturing battery-grade spherical graphite

By: Marleny Arnoldi     22nd February 2021 London-listed Tirupati Graphite has successfully completed trials and tests for the manufacture of battery-grade spherical graphite (SPG), which is used in the anode of lithium-ion batteries. The company worked with a German manufacturer of spheroidisation and micronisation equipment, achieving... 

Global decarbonisation rapidly upping demand for Anglo Platinum products 

By: Martin Creamer     22nd February 2021 Platinum group metals mining and marketing company Anglo American Platinum said on Monday that it was poised to deliver next phase of value for its stakeholders as decarbonisation efforts increase the long-term demand for its metals. “We are grounded in our purpose to re-imagine mining to improve... 

Global decarbonisation rapidly upping demand for Anglo Platinum products
Anglo American Platinum's Mogalakwena platinum mine in Limpopo.

Three people die in partial collapse of Nornickel's Arctic processing plant

By: Reuters     22nd February 2021 Three workers died after a processing plant owned by Russian mining giant Norilsk Nickel in Arctic Siberia partially collapsed during maintenance, the company and officials said on Saturday, as the miner's shares fell by 3.6%. The Arctic environment and production security at Nornickel's assets... 

Three people die in partial collapse of Nornickel's Arctic processing plant
Vladimir Potanin: "The accident shows that efforts are not enough."

Copper surges above $9 000 as major deficit drives record rally

By: Bloomberg     22nd February 2021 Copper rallied above $9 000 a ton for the first time in more than nine years on bets that increased demand driven by the recovery from the pandemic will spur a historic deficit, putting the economic bellwether on course for a record run of monthly gains. Prices climbed more than 3% on Monday and... 

Copper surges above $9 000 as major deficit drives record rally

Gold goes from commodity leader to laggard in shocking reversal

By: Bloomberg     19th February 2021 Gold held near the lowest level in more than two months as an uptick in the dollar and further signs of economic recovery pummeled demand for the haven asset. Bullion capped a five-day skid on Wednesday, the longest run of losses since March, as data showed US retail sales surged in January by... 

Gold goes from commodity leader to laggard in shocking reversal

GoldStone receives permits for AKHM project

By: Tasneem Bulbulia     19th February 2021 Aim-listed GoldStone Resources says both the mining operating permit and the water-use permit for the company's Homase South Pit within the Akrokeri-Homase (AKHM) project, in Ghana, have been awarded. The company now has all of the key permits required to progress the developments at the Homase... 

These metals are soaring on a green frenzy and global recovery

By: Bloomberg     19th February 2021 Industrial metal prices are powering to the highest in years on bets an economic recovery from the pandemic and worldwide push for cleaner, greener energy will unleash vast amounts of pent-up demand. From base-metal bellwethers to essential inputs for batteries and home electronics, post-crisis... 

These metals are soaring on a green frenzy and global recovery

Having gold in your portfolio is a very solid insurance right now – Bristow 

By: Martin Creamer     18th February 2021 Having gold in your portfolio is a very solid insurance right now, as it always has been during global crises. That is the view of Barrick Gold president and CE Dr Mark Bristow, whose company on Thursday reported 91% higher fourth-quarter operating cash flow to $5.4-billion and annual free cash... 

Having gold in your portfolio is a very solid insurance right now – Bristow
Barrick Gold president and CE Dr Mark Bristow

Altus, Marvel extend mineralisation at the Tabakorole project

By: Marleny Arnoldi     18th February 2021 Aim-listed Altus Strategies says reverse circulation (RC) at its Tabakorole gold project, in Mali, has extended the strike length of the FT Prospect by at least 150 m to beyond 3 km. Altus holds a 49% equity interest in the project, as well as a 2.5% net smelter return royalty.  

Sibanye assessing on-site green hydrogen generation to power fuel cell mobility  

By: Martin Creamer     18th February 2021 Platinum group metals (PGM) producer Sibanye-Stillwater is assessing the generation of green hydrogen on its mine sites to power PGM-catalysed hydrogen fuel cell mobility, it said on Thursday, when the Johannesburg- and New York-listed company foresaw good exposure for itself to the hydrogen... 

Sibanye assessing on-site green hydrogen generation to power fuel cell mobility
Sibanye-Stillwater results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Tirupati starts second stage drilling at Madagascar projects

By: Marleny Arnoldi     18th February 2021 London-listed Tirupati Graphite has started with Stage 2 of a drilling and exploration programme across its flake graphite projects in Madagascar. The company also announces that consultancy SRK Mining Services, based in India, has been appointed to oversee the Stage 2 programme and upgrade the... 

Infinity raises A$15m for Spanish lithium

By: Esmarie Iannucci     18th February 2021 Lithium developer Infinity Lithium Corporation has received firm commitments for a A$15-million capital raise to advance its San Jóse lithium project, in Spain. “Infinity is very pleased to have received such strong support from new and existing investors as the company advances the San Jóse... 

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