R/€ = 17.00 Change: 0.05
R/$ = 16.29 Change: 0.04
Au 1809.10 $/oz Change: 0.24
Pt 887.00 $/oz Change: 1.00

Europe News

Glencore enters strategic partnership with lithium recycler

By: Creamer Media Reporter      5th May 2022 Commodities giant Glencore has announced a strategic partnership with NYSE-listed lithium-ion battery recycler Li-Cycle, as part of its strategy of combining primary and recycled battery raw materials to produce battery-grade end products. In terms of the agreement, Glencore will procure... 

Gold Fields lifts first-quarter output despite macroeconomic challenges 

By: Darren Parker     5th May 2022 Despite facing various global challenges, JSE-listed gold miner Gold Fields achieved a 7% year-on-year increase in attributable equivalent gold production for the quarter ended March 31. While the 580 000 oz of gold produced in the quarter was 8% lower quarter-on-quarter, Gold Fields said it... 

Gold Fields CEO Chris Griffith
Gold Fields CEO Chris Griffith

Endeavour accelerates Ity optimisation project

By: Mariaan Webb     5th May 2022 Gold miner Endeavour Mining has accelerated the launch of the construction of a recyanidation circuit at its Ity operation, with the additional circuit forming part of its optimisation initiatives at the Côte d’Ivoire-based mine. The company on Thursday announced the $41-million investment,... 

The Ity operation in Cote d'Ivoire
Photo by Endeavour Mining
The Ity operation in Cote d'Ivoire

Rio hopes for bigger spending on growth projects

By: Esmarie Iannucci     5th May 2022 Diversified miner Rio Tinto is hoping to increase its investment in growth capital to $3-billion a year, by 2023 to 2024, with a focus on energy commodities, including iron-ore. CEO Jakob Stausham told the company’s annual general meeting on Thursday that the company was well placed to grow and... 

Image shows the Rio Tinto logo

Cash-flush Barrick Gold funding reintroduction of white rhinos to DRC national park 

By: Martin Creamer     4th May 2022 Gold mining company Barrick Gold, which has just reported an outstanding set of first quarter financial results, is funding the reintroduction of white rhinos to the Democratic Republic of Congo (DRC), where it mines at Kibali Gold Mine. Since agreement on the repatriation of revenue from Kibali... 

Screenshot of Barrick map.
Barrick Gold restoring rhino to park near Kibali mine.

Kodal announces oversubscribed £3m placing

By: Marleny Arnoldi     4th May 2022 Aim-listed Kodal Minerals has raised £3-million in a new ordinary share placing of more than one-billion new ordinary shares. The subscription was originally aimed at placing 130-million new ordinary shares, but was oversubscribed by 941-million shares, resulting in 1.07-billion shares being... 

B2Gold makes record $29m allocation for grassroots exploration

By: Mariaan Webb     4th May 2022 Canada-based miner B2Gold plans to spend a record $29-million on grassroots exploration this year, having spent many years generating targets and pursuing 13 opportunities in prospective gold regions. The company, which has a total exploration budget of $65-million for the year focusing mainly... 

Glencore's human rights record worst in green metals, group says

By: Bloomberg     4th May 2022 Glencore has the worst human rights record among miners of metals used in renewable energy, the Business & Human Rights Resource Centre said in a report. The alleged abuses attributed to all companies range from attacks on activists to violations of environmental laws to forced relocations.... 

Highfield mandates financing for Muga

By: Esmarie Iannucci     4th May 2022 Potash developer Highfield Resources has mandated a group of experienced European mining finance lenders for a €312.5-million senior secured project financing package to finance the construction of its Muga potash project, in Spain. "We are delighted to reach this new milestone towards the... 

Botswana Diamonds discovers largest anomaly to date at Thorny River project

By: Tasneem Bulbulia     4th May 2022 Aim- and BSE-listed Botswana Diamonds’ ground geophysics survey on its Thorny River property in South Africa has led to the discovery of the largest anomaly to date on the project, consistent with a kimberlite pipe of 25 m in diameter. A detailed drilling programme is planned for July to August,... 

Demand concerns drag copper and aluminium to three-month lows

By: Reuters     3rd May 2022 Prices of copper and aluminium fell to three-month lows on Tuesday as weak manufacturing data, Covid-19 outbreaks in China and rising interest rates stoked fears that demand will soften. Benchmark copper on the London Metal Exchange (LME) was down 2.5% at $9 525.50 a tonne at 10:55 GMT. LME... 

South Africa would do well to highlight its key iridium status to world that needs this very rare metal  

By: Martin Creamer     3rd May 2022 South Africa would do well to highlight its key iridium supply status to gain the full confidence of a world that requires this very rare platinum group metal (PGM) to advance the fast-moving hydrogen economy. Iridium is a potent co-roleplayer with PGM stalwart platinum when it comes to... 

Creamer Media picture
SFA Oxford CEO Henk de Hoop interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Rich nations scramble to seal coal transition deals before COP27

By: Bloomberg     3rd May 2022 As they prepare for the next round of global climate talks in November, officials from rich countries are trying to pull together a series of multibillion-dollar packages to help poor countries phase out coal. But negotiations have been snarled by national politics and Russia’s war in Ukraine,... 

Truck transporting coal

World lacks time, not minerals for climate-saving technology

By: Bloomberg     29th April 2022 The world isn’t cutting greenhouse gas emissions with anything like the speed required to avoid the most dangerous effects of climate change, as the latest United Nations climate report published this month affirmed. Despite this, it’s become a trope of sorts to warn that we’re in danger of going... 

World lacks time, not minerals for climate-saving technology

Putin is discussing the idea of pegging the rouble to gold - Kremlin

By: Reuters     29th April 2022 A powerful Russian security official said this week linking the rouble to bullion could give Russia more "sovereignty" over its financial system, which has been battered by Western sanctions since Moscow sent troops into Ukraine on February 24. Asked about the idea on a conference call with... 

Sylvania aiming for higher output in the fourth quarter

By: Tasneem Bulbulia     29th April 2022 Aim-listed Sylvania’s Dump Operations (SDO) produced 15 840 oz of platinum, palladium, rhodium and gold (4E) platinum group metals (PGMs) in the third quarter to March 31. SDO recorded $47.9-million net revenue for the quarter, enhanced by strong PGM basket prices. 

Implats reports 6% lower refined production amid challenging operating landscape 

By: Martin Creamer     29th April 2022 The gross refined production of platinum group metals (PGM) mining company Implats declined by 6% to 2.35-million ounces in the nine months to March 31, when sales volumes of 2.38-million ounces were 4% lower than the prior comparable period. “The operating landscape continues to be challenging,”... 

Picture supplied.
Implats CEO Nico Muller

Galantas to restart Northern Ireland mine in June, expands Ireland licence holdings

By: Mariaan Webb     29th April 2022 Dual-listed Galantas Gold will next month restart development and blasting at its Omagh min, in Northern Ireland, and says production stoping is targeted for mid- to late-June. The company reports that it has resolved geotechnical matters at the past-producing mine and that it has hired an... 

Eldorado aims to restart Skouries construction this year

By: Mariaan Webb     29th April 2022 Vancouver-based Eldorado Gold is continuing to advance financing discussions for its partially constructed Skouries mine, in Greece, and says that it aims to restart work on the project in the second half of the year. The project has been stalled for several years, after the Greek government... 

Eldorado aims to restart Skouries construction this year

Nyrstar announces major investment in Hobart

By: Esmarie Iannucci     29th April 2022 Zinc major Nyrstar on Friday reported that it would invest in the construction of a new electrolysis plant at the company’s ‘Zinc Works’ operations in Hobart, ensuring a long-term future for metals refining in Australia. The project is estimated to require an investment of approximately... 

Image shows stacked zinc bars

Mining giant Glencore is losing support for its climate plan

By: Bloomberg     29th April 2022 Shareholder support for Glencore Plc’s climate change strategy has weakened and the world’s top coal shipper will now have to consult with investors as it looks to defend one of its most profitable businesses. The company secured about 76% support for its climate progress report at its annual... 

Keliber wins building permit for lithium chemical plant

By: Creamer Media Reporter      28th April 2022 Finnish explorer and developer Keliber has been granted the building permit for its lithium chemical plant in Kokkola, paving the way for construction to start this summer. The plant will convert Keliber’s spodumene concentrate to battery-grade lithium hydroxide monohydrate, used in electric... 

China seen struggling to hit domestic coal expansion target

By: Bloomberg     28th April 2022 China may only expand its coal capacity by one-third of its target this year because of safety and environmental regulations, according to a government-backed industrial association. The nation can add about 100-million tons of capacity this year, including mines still being tested, Zhang... 

Glencore guides higher full-year ferrochrome output with coal marking time 

By: Martin Creamer     28th April 2022 Diversified mining and marketing company Glencore is guiding 3% higher ferrochrome performance for the whole of this year, with no change to its coal production guidance. Full-year guidance for nickel is also up by the same three percentage points but full-year 2022 zinc guidance has been reduced... 

Picture supplied.
Gary Nagle

Altona to pursue LSE listing

By: Tasneem Bulbulia     28th April 2022 Rare earths exploration company Altona intends to apply for admission of its ordinary shares to the Standard Segment of the Official List and to trading on the LSE’s main market for listed securities. Admission to trading of the company's ordinary shares on the AQSE Growth Market will be... 

Former Finance Minister Nene chair, Gomwe CEO of MC Mining

By: Martin Creamer     28th April 2022 The board of MC Mining has appointed former Finance Minister Nhlanhla Nene as chairperson and former Anglo Coal leading light Godfrey Gomwe as CEO of the London AIM-, Sydney ASX- and Johannesburg JSE-listed South African coal exploration, development, and mining company. The key projects of MC... 

Picture supplied.
Godfrey Gomwe, CEO of MC Mining

Amid need for continuity, industry lauds LME chief's decision to stay

By: Reuters     28th April 2022 London Metal Exchange CEO Matt Chamberlain's decision to remain in his post and not leave at the end of April is welcome as the exchange needs experienced hands to steer it through a challenging time, industry sources said. But the departure of Adrian Farnham, CEO of the exchange's clearing... 

Russia says it may buy diamonds from sanctions-hit Alrosa

By: Reuters     28th April 2022 Russia may buy an as yet undetermined amount of rough diamonds from sanctions-hit producer Alrosa through its state precious metals and gems repository Gokhran, the country's Finance Minister Anton Siluanov said on Wednesday. The United States imposed sanctions on State-controlled Alrosa in... 

MATSA adds to Sandfire production

By: Esmarie Iannucci     28th April 2022 Copper miner Sandfire Resources has reported a significant surge in production during the March quarter, following the completion of the MATSA mining operation, in Spain, and an operational integration programme. Copper production in the March quarter increased to 28 774 t, up from the 18 675 t... 

De Beers' 15 ct blue diamond sold for $58m at Sotheby’s

By: Bloomberg     28th April 2022 The De Beers Blue diamond has been auctioned for HK$450.9-million ($57.5-million) at Sotheby’s in Hong Kong. The 15.1 ct, fancy vivid blue diamond was sold Wednesday evening to an unnamed buyer. The step-cut gem, recovered from the Cullinan mine in South Africa, is the largest vivid blue diamond... 

Commodities to stay elevated on Ukraine war, World Bank says

By: Bloomberg     27th April 2022 Food and energy price surges worsened by the Ukraine war could last through the end of 2024 due to disruptions in trade and production, the World Bank Group said Tuesday. Increase in energy prices, which has reached the largest since the 1973 oil crisis, is expected to pass 50% in 2022 before... 

Commodities to stay elevated on Ukraine war, World Bank says

Petra Diamonds exploring responsible Koffiefontein exit 

By: Martin Creamer     26th April 2022 Diamond company Petra is exploring a responsible exit from its investment in the Koffiefontein diamond mining operations. The exit would be carried out together with its black economic empowerment partners Kago Diamonds and its Itumelang employee trust, the London Stock Exchange-listed company... 

Shanta on track to become 100 000 oz/y gold producer

By: Tasneem Bulbulia     26th April 2022 Aim-listed Shanta Gold recorded a good start to the year operationally, with mining beginning a month ahead of schedule at the high-grade Bauhinia Creek Crown Pillar at the New Luika gold mine (NLGM), in Tanzania, CEO Eric Zurrin notes in a production and operational results update for the... 

Wimbledon opts for platinum to mark Queen’s jubilee, centre court centenary 

By: Martin Creamer     26th April 2022 In the year of the Queen of England’s platinum jubilee, the coins to be used in the Wimbledon ladies’ and gentlemen’s singles finals coin toss will be made of platinum for the first time in the championships’ history. This follows last month’s unveiling by the UK Royal Mint of its largest ever... 

Image supplied by WPIC
Platinum coin to be tossed at Wimbledon.

Nornickel and Rosatom to collaborate on lithium

By: Creamer Media Reporter      26th April 2022 Palladium and nickel miner Nornickel will collaborate with State atomic energy corporation Rosatom on the development of what it describes as the “most promising” lithium ore deposit in Russia. The Kolmozerskoye deposit, in the Murmansk region, is said to be the biggest in Russia, accounting for... 

AfriTin announces strong results from Uis expansion PEA

By: Tasneem Bulbulia     26th April 2022 Aim-listed AfriTin Mining has announced the results of its internally produced preliminary economic assessment (PEA) for the Phase 2 expansion of the company’s flagship polymetallic asset, the Uis mine, in Namibia. The PEA shows an after-tax net present value of $2.1-billion and an internal rate... 

An image showing AfriTin's Uis mine in Namibia
Uis mine

Bushveld lifts first-quarter output, notes supply chain challenges

By: Tasneem Bulbulia     26th April 2022 Aim-listed Bushveld Minerals’ production for the three months ended March 31 increased on the back of continued operational stability and enhanced safety. Group production of 972 t of vanadium was 1% higher than the previous quarter’s 962 t. 

An image of Bushveld Mineral's Vametco plant
The Vametco plant saw its costs improve on the back of higher throughput

Palladium One increases LK indicated resources by 250%

By: Creamer Media Reporter      26th April 2022 Precious metals exploration company Palladium One has published an updated mineral resource estimate (MRE) for its Läntinen Koillismaa (LK) project, in north-central Finland, increasing the Kaukua area’s indicated resources tonnes by about 250%. The project now has 1.1-million ounces total... 

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