R/€ = 17.07 Change: -0.02
R/$ = 16.35 Change: -0.03
Au 1811.25 $/oz Change: 2.39
Pt 887.00 $/oz Change: 1.00

Europe News

Europe’s energy rush spurs Sasol to quicken green hydrogen plan 

By: Bloomberg     26th April 2022 Europe’s scramble to find new sources of energy to reduce its reliance on Russia has given Sasol, South Africa’s biggest fuel producer, a new purpose to accelerate its green hydrogen plans. Sasol is focusing on green hydrogen -- made by machines called electrolyzers that are powered by the wind... 

Nornickel Q1 nickel output up, palladium down

By: Reuters     25th April 2022 Russian metals producer Nornickel said on Monday its first-quarter nickel production rose year-on-year due to the recovery of its two mines after flooding in 2021, while palladium output fell due to a high base effect. Nornickel, the world's largest palladium producer and a leading nickel... 

Li3 signs JV to acquire half of Premier’s lithium assets in Zimbabwe

By: Tasneem Bulbulia     25th April 2022 Aim-listed Premier African Minerals has signed a binding joint venture agreement (JV) with lithium exploration company Li3 Resources, which will acquire a 50% interest in Premier's hard-rock lithium assets, collectively known as the Li3 project, in the Mutare Greenstone Belt, in Zimbabwe. Premier... 

Yanfolila processing plant maintenance cuts Hummingbird’s first-quarter output

By: Darren Parker     25th April 2022 Aim-listed gold producer Hummingbird Resources produced 15 548 oz of gold at its Yanfolila mine, in Mali, for the quarter ended March 31, compared with the 18 181 oz produced in the fourth quarter of 2021. Output was also lower than the 22 781 oz produced in the first quarter of 2021. 

mining dump trucks on a mine

Pure Gold appoints interim CEO as Fierro steps down, says it needs additional capital

By: Mariaan Webb     25th April 2022 Canadian miner Pure Gold is making headway with its operational turnaround plan, but the company says it will require additional capital to transition to a state of a positive site-level cash flow by the third quarter of this year. CFO and VP of business development Chris Haubrich said on Friday... 

Pure Gold appoints interim CEO as Fierro steps down, says it needs additional capital

New Limpopo diamond mine on cards 

By: Martin Creamer     25th April 2022 An evaluation carried out by Botswana Diamonds has firmed up the possibility of a diamond mine being developed at the company’s Thorny River property in South Africa’s Limpopo province. The analysis indicates potential opencast options, the London-Aim and Botswana Stock Exchange-listed company... 

Permission from Stelzer via his colleague James Campbell to use this picrtue.
Photo by Botswana Diamonds
Botswana Diamonds MD James Campbell

Six dead in Poland's second mining disaster in a week

By: Reuters     25th April 2022 The death toll in Poland's second mining disaster in the space of a week rose to six on Monday, Prime Minister Mateusz Morawiecki said, as he promised to investigate safety standards at the pits in question. A tremor shook Borynia-Zofiowka mine in southern Poland on Saturday morning, just days... 

Polymetal delays projects amid sanctions pressure on Russia

By: Reuters     25th April 2022 Polymetal has decided to postpone several projects amid Western sanctions on Russia after the gold and silver miner reported a 4% year-on-year increase in first-quarter revenue to $616-million due to higher gold prices. The Western sanctions imposed on Moscow after it sent its troops to Ukraine... 

Russia’s war is turbocharging the world’s addiction to coal 

By: Bloomberg     25th April 2022 In Germany and Italy, coal-fired power plants that were once decommissioned are now being considered for a second life. In South Africa, more coal-laden ships are embarking on what’s typically a quiet route around the Cape of Good Hope toward Europe. Coal burning in the US is in the midst of its... 

Russia’s war is turbocharging the world’s addiction to coal

Power Metal expands prospective lands in Botswana

By: Marleny Arnoldi     22nd April 2022 London-listed Power Metal Resources has been granted a prospecting licence covering the historical Cherished Hope gold mine and a large gold-in-soil anomaly, within the Tati greenstone belt, in Botswana. This has largely enhanced the company’s land position within the Tati greenstone belt, with... 

Ukraine miner Ferrexpo delays dividend, pauses some projects

By: Reuters     22nd April 2022 Ukraine-focused miner Ferrexpo said on Friday it was delaying a decision on paying interim dividend and pausing projects that are not expected to deliver near-term growth in the wake of Russia's invasion of the country. Shares of the London-listed group rose as much as 5.5% to 184.5p in early... 

Akobo announces significant increase in gold ounces at Segele

By: Darren Parker     22nd April 2022 Scandinavian gold exploration and boutique mining company Akobo Minerals has announced an updated mineral resource estimate (MRE) for its Segele project, in Ethiopia, showing a significant increase of 31% in gold ounces. The updated MRE put the average grade at 40.6 g/t for indicated mineral... 

Investor group to flag concern over Glencore's climate efforts - sources

By: Reuters     22nd April 2022 The world's biggest climate action investor group will back a shareholder challenge to Glencore's slow progress in scaling back coal production at the miner and trader's annual general meeting on April 28, two sources familiar with the matter said. Climate Action 100+ (CA100+) will flag to... 

De Beers invests $2m in Kelp Blue to explore marine carbon reduction solutions

By: Tasneem Bulbulia     22nd April 2022 Diamonds multinational De Beers Group is investing $2-million in Kelp Blue, a start-up focused on growing and managing large-scale giant kelp forests, initially off the Namibian coast. These underwater forests have the potential to safely and permanently lock away vast amounts of carbon dioxide... 

RopeCon technology deployed at Booysendal North

By: Tasneem Bulbulia     22nd April 2022 South African mining company Booysendal Platinum, a subsidiary of Northam Platinum, has once again made use of technology developed by ropeway manufacturer Doppelmayr, for an extension project at its Booysendal site. A RopeCon system has been transporting platinum ore in Booysendal since the end... 

Kore expects financing proposal on Kola project within two months

By: Marleny Arnoldi     22nd April 2022 Dual-listed Kore Potash has started a detailed review of the optimisation study on the Kola project, in Congo-Brazzaville, which was undertaken by an engineering partner of the Summit Consortium, with which Kore has a memorandum of understanding in place. The consortium aims to submit an... 

Mining giants struggle despite commodities price boom

By: Bloomberg     22nd April 2022 The world’s biggest miners had a tough start to the year, struggling to hit production goals and keep costs under control in the face of Covid-19 disruptions and global inflationary pressures. Fresh from record profits, and with many commodities still trading at or near all-time highs, the... 

Mining giants struggle despite commodities price boom

Epiroc gets large mining equipment order from DRC copper mine

By: Darren Parker     22nd April 2022 Swedish original-equipment manufacturer Epiroc has received a large order from copper miner Kamoa Copper for mining equipment that will be used at the Kamoa-Kakula underground copper mine in the Democratic Republic of the Congo (DRC).  Kamoa Copper operates Kamoa-Kakula as a joint venture between... 

An Epiroc machine underground

Petropavlovsk applies for export licence amid struggle to sell gold

By: Reuters     22nd April 2022 Russian gold miner Petropavlovsk said on Friday it has applied for a new export licence as the company struggles to sell its gold to sanctions-hit lender Gazprombank, the only buyer of the mining group's entire gold output. The sanctions imposed on several Russian companies prohibit any... 

The ISU backs Ionic's play for SerenTech

By: Esmarie Iannucci     22nd April 2022 The UK government’s Investment Security Unit (ISU) has approved ASX-listed Ionic Rare Earth’s acquisition of Seren Technology, under the National Security and Investment Act. Ionic in December last year entered into a binding term sheet to acquire the UK-based rare earth separation technology... 

All Star proposes changing its name to Marula Mining

By: Tasneem Bulbulia     21st April 2022 AQSE-listed All Star Minerals has proposed changing its name to Marula Mining. The directors believe the new name will better reflect the company’s updated strategic objectives and increased focus on delivering on its strategy of investing in, and developing, mining assets, as reflected in the... 

Gem Diamonds reports higher revenue despite lower prices

By: Darren Parker     21st April 2022 LSE-listed diamond producer Gem Diamonds sold 28 461 ct of diamonds during the quarter ended March 31, up from 24 790 ct sold in the quarter ended December 31. It generated revenue of $52.1-million for the quarter, compared with the $50-million generated in the prior quarter, with the average... 

Gem CEO Clifford Elphick
Gem CEO Clifford Elphick

Los Pelambres expansion to cost another $500m more

By: Mariaan Webb     21st April 2022 London-listed Antofagasta has completed a review of the project schedule and costs for an expansion of its flagship Los Pelambres copper mine in Chile, and on Thursday reported a revised capital cost estimate of $2.2-billion. This is a 30% increase from the previous estimate of $1.7-billion and... 

Los Pelambres expansion to cost another $500m more

Chaarat Gold looking forward to ‘very green’ production out of Kyrgyz Republic  

By: Martin Creamer     21st April 2022 London Aim-quoted gold mining company Chaarat Gold is looking forward to “very green and sustainable gold production” coming out of the Kyrgyz Republic, where it is developing two gold projects. The of these first is Tulkubash, a near-term opencast heap leach project, and the second a far larger,... 

Picture supplied.
Chaarat Gold CEO Mike Fraser interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Anglo revises full-year production guidance for PGMs, met coal, iron-ore lower 

By: Marleny Arnoldi     21st April 2022 Diversified miner Anglo American has reported a 10% year-on-year decrease in production in the first quarter of this year and adjusted downward its full-year guidance for platinum group metals (PGMs), iron-ore and metallurgical (met) coal production. This “normally slower” first quarter was... 

Iron ore
Kumba Iron Ore operation

Putin wants Russia to boost its use of metals to counter sanctions

By: Reuters     21st April 2022 Russian President Vladimir Putin on Wednesday called for structural changes in Russia's metallurgical industry to counter Western sanctions he said were starving it of some components and restricting its ability to sell some goods abroad. Speaking at a televised meeting with industry officials... 

An image of Vladimir Putin
Vladimir Putin chairing a meeting in Russia on Wednesday

Volt signs joint development agreement to improve battery performance

By: Tasneem Bulbulia     20th April 2022 ASX-listed graphite producer and battery anode material developer Volt Resources has signed a joint development agreement (JDA) with alkaline battery producer Urban Electric Power (UEP), and Volt’s technology partner in the US, American Energy Technologies Co (AETC), to use non-spherical purified... 

Russian metals producers want Putin to ease taxes as war bites

By: Bloomberg     20th April 2022 Russian metals tycoons and chiefs will ask for taxes to be eased when they meet President Vladimir Putin on Wednesday as the fallout from the war in Ukraine hurts their businesses. Mining and metals companies want the tax system to return to how it was before changes made last year that... 

Four dead in a pit blast at Europe's biggest coking coal miner

By: Bloomberg     20th April 2022 Four people died and more may be missing following an explosion at Pniowek mine in southern Poland operated by Europe’s largest coking coal producer JSW. As many as 42 miners were present in the section of the mine where the accident occurred at 12:15 a.m. local time, the company said on... 

Centamin reports 89% y/y increase in capex

By: Darren Parker     20th April 2022 LSE- and TSX-listed gold producer Centamin reported total capital expenditure (capex) for the first quarter ending March 31 of $71.4-million, reflecting an 89% increase year-on-year. In a quarterly report released on April 20, the company said significant investment had been made in key capital... 

A photo of one of the Sukari open pits

President Ramaphosa to deliver keynote address at Mining Indaba 2022

By: Martin Creamer     20th April 2022 President Cyril Ramaphosa will deliver a keynote address at the 2022 Investing in African Mining Indaba, which takes place in Cape Town from May 9 to 12. The attendance of Ramaphosa, who will speak on Tuesday, May 10, signals the continued importance of mining to the South African economy as a... 

Picture supplied.
President Cyril Ramaphosa.

Strong prices, exceptional diamonds sold drive Petra’s revenues higher 

By: Darren Parker     20th April 2022 LSE-listed Petra Diamonds has reported a 33% year-on-year increase in revenue to $140.6-million for the quarter ended March 31 – the third quarter of its 2022 financial year. In an unaudited trading update released on April 20, Petra said the higher revenue was driven by strong prices achieved in... 

Petra CE Richard Duffy
Photo by Creamer Media
Petra CE Richard Duffy

Petropavlovsk’s Russian bank asks gold miner for its money back

By: Bloomberg     20th April 2022 Petropavlovsk said its main Russian lender has asked it to repay a $200-million loan immediately, piling more pressure on the London-listed gold miner that’s been thrown into turmoil by sanctions against Moscow. The gold producer has found itself in an existential crisis after Russia’s invasion... 

China buys cheap coking coal from Russia as world shuns Moscow

By: Bloomberg     20th April 2022 China more than doubled imports of steel-making coal from Russia in March, procuring the fuel at a discount as other nations move to ban deliveries due to the war in Ukraine. Coking coal imports from Russia jumped to 1.4-million tons in March, compared to 590 000 t for the same month last year... 

An image of coal wagons

Cascabel ‘no ordinary mining asset’, says SolGold as it unveils PFS

By: Mariaan Webb     20th April 2022 Dual-listed SolGold on Wednesday published a prefeasibility study (PFS) for its Cascabel project, in Ecuador, outlining plans for a multi-decade, low-cost copper producer that could help establish Ecuador as the next copper frontier. Cascabel would produce an average of 132 000 t/y of copper,... 

An image of the project area around Cascabel in Ecuador
The Cascabel project area in Ecuador

Siemens Gamesa buffeted by rising costs as turbine launch problems deepen

By: Reuters     20th April 2022 Siemens Gamesa is discussing raising prices for its wind turbines by more than a high single-digit percentage in some cases as it grapples with stubbornly lofty raw materials prices, CE Jochen Eickholt said on Wednesday. "For specific materials … steel, copper, others, we continue to observe... 

Altech's Silumina Anodes plant proves up

By: Esmarie Iannucci     20th April 2022 A prefeasibility study (PFS) into a 10 000 t/y silicon/graphite alumina coating plant, in Germany, has proven positive for ASX-listed Altech Chemicals. The company on Wednesday told shareholders that the plant, which will be constructed by Altech Industries Germany (AIG), would produce high... 

Eramet's New Caledonia nickel smelter to use floating power unit

By: Reuters     19th April 2022 SLN, the New Caledonian nickel producer controlled by Eramet, announced on Tuesday plans to hire a floating power unit for its smelter to cover its needs pending the replacement of the Pacific territory's ageing central power plant. Improved energy supply has become a priority for SLN as it... 

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