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Europe News
Tharisa declares final dividend of $0.035
By: Marleny Arnoldi 11th February 2021 LSE- and JSE-listed Tharisa has declared a final dividend of $0.035 apiece for the financial year ended September 30, 2020. Executive chairperson Phoevos Pouroulis said in a statement on February 11 that the company had taken tough decisions over the last year, which has started to bear fruit... →
Kinross Gold beats profit estimates on higher prices
By: Reuters 11th February 2021 Canadian miner Kinross Gold beat analysts' estimates for quarterly profit on Wednesday as a surge in gold prices cushioned the blow from lower output. Prices of the yellow metal surged 25% in 2020 as investors sought the safety of gold after the Covid-19 pandemic hammered the global economy.... →
WPIC says there is a ‘growing market’ for platinum in hydrogen adoption 
By: Simone Liedtke 10th February 2021 It is estimated that green hydrogen could supply up to 25% of the world’s energy needs and become a $10-trillion addressable market, says the World Platinum Investment Council (WPIC). This is underpinned by the recent emergence of strong green hydrogen-focused national hydrogen strategies,... →
Vision Blue helping world to achieve green dream with high-return prospects for investors 
By: Martin Creamer 10th February 2021 The world’s energy transition away from fossil fuels is a phenomenon that is not dependent on any assumptions about gross domestic product (GDP) growth or countries urbanising or industrialising. It is a phenomenon driven by international consensus that the carbon footprint of the world has to be... →
Early site works get under way at Sonora
By: Creamer Media Reporter 10th February 2021 Following its successful $65-million fundraise last week, Aim-listed development company Bacanora Lithium has kicked off initial site activities at the Sonora project, in Mexico. Bacanora is building the project together with its partner, Ganfeng Lithium – the world's largest lithium metals... →
Copper traders hunt for more good news after longest rally slows
By: Bloomberg 10th February 2021 Copper is on the cusp of its longest rally on record, but the metal seen as a global economic bellwether has recently stumbled -- and traders are watching Washington and Beijing for clues to the next leg up. Traders and leading investors say the market needs more good news before prices can rip... →
Petra introduces changes at Williamson as human rights abuses investigation continues
By: Marleny Arnoldi 10th February 2021 London-listed diamond miner Petra Diamonds is already making some changes, such as appointing a new security contractor and implementing a new grievance mechanism, at its Williamson mine, in Tanzania, while it finalises an investigation into alleged human rights abuses by security personnel at... →
Controversial UK coal mine under review over climate backlash
By: Bloomberg 10th February 2021 Construction of a coal mine that threatened UK Prime Minister Boris Johnson’s claim to be a world leader in the fight against climate change is under review after growing opposition. The Woodhouse Colliery would be the first new deep coal mine in the UK in three decades. It’s planned to be built... →
China’s recovery points to Lunar New Year boost for gold demand
By: Bloomberg 10th February 2021 China’s economic recovery from the coronavirus pandemic may offer some solace to gold bulls, with expectations building that jewelry demand will rebound following last year’s wipe out. Jewelry retailers on the mainland have reported strong sales in recent months, while concerns over infection... →
Altus expands into Egypt with award of four gold exploration licences
By: Simone Liedtke 9th February 2021 The Egyptian Mineral Resource Authority has granted Altus Strategies’ subsidiary Akh Gold four gold exploration licences, comprising nine licence blocks and totaling 1 565 km2, in the eastern desert of Egypt. The licences target potential historic workings as defined by in-house satellite data... →
Aluminium producer Norsk Hydro sued by Brazilian group over alleged pollution
By: Reuters 9th February 2021 Some 40 000 Brazilians are bringing a group-action lawsuit against Norwegian aluminium producer Norsk Hydro for what they say is toxic waste pollution the company is causing in northern Brazil. The lawsuit is brought by a group of communities who live in the lower Amazon region in the Brazilian... →
Rusal says aluminium demand healthy despite pandemic
By: Reuters 9th February 2021 Demand for aluminium is extending its recovery so far this year despite a second wave of Covid-19 lockdowns, an executive at Russian aluminium producer Rusal said this week. "Demand is still strong in many sectors, especially automotive, packaging, construction," Roman Andryushin, head of sales... →
Polyus vaccinates workers, contractors
By: Creamer Media Reporter 9th February 2021 Russia's largest gold producer Polyus, which was last year hit by a major Covid-19 outbreak at its Olimpiada mine, has launched a vaccination programme, which makes vaccines available to all employees and contractors at any of its sites. The first delivery, which consists of 1 100 Covid-19... →
Tirupati upscaling Vatomina’s capacity to meet increased market demand
By: Tasneem Bulbulia 8th February 2021 In response to continued increased demand for its high-quality flake graphite, specialist graphite producer Tirupati Graphite will increase the capacity of the first module at its Vatomina project, in Madagascar, by 50% to about 9 000 t/y, which will result in an increase in near-term cash flows... →
Platinum group metals outlook: constrained supply, very strong demand growth – WPIC
By: Martin Creamer 8th February 2021 The outlook for platinum group metals (PGMs) is one of constrained supply and very strong demand growth. “You’ve got the entire PGMs suite that is short and that certainly will translate into tight markets,” World Platinum Investment Council (WPIC) Director of Research Trevor Raymond told Mining... →
Goldplat reports healthy interim operating profit
By: Marleny Arnoldi 8th February 2021 Aim-listed gold recovery company Goldplat has reported a healthy operating profit of £3.04-million for the six months ended December 31, 2020. The company’s South African operations achieved an operating profit of £2.2-million, while its Ghana-based operations increased operating profit by more... →
Pan African says to report at least 80% increase in interim HEPS
By: Marleny Arnoldi 8th February 2021 JSE- and Aim-listed Pan African Resources expects its headline earnings per share (HEPS) for the six months ended December 31, 2020, to be between 80% and 92% higher year-on-year at between $0.0205 and $0.0217 apiece. This compares with HEPS of $0.0114 apiece reported for the six months ended... →
A new commodities boom beckons when pent-up demand is unleashed
By: Bloomberg 8th February 2021 The eventual end of the coronavirus pandemic is likely to herald a consumption boom, piling pressure on precarious supply chains and boosting raw material prices, according to the Merchant Commodity Fund. “There’s a huge amount of pent-up demand in the consumer pocket,” said Doug King, head of... →
Barrick’s Loulo-Gounkoto exceeds yearly guidance
By: Tasneem Bulbulia 8th February 2021 Dual-listed Barrick Gold Corporation’s Loulo-Gounkoto mine complex, in western Mali, produced 680 215 oz of gold in 2020, exceeding its full-year guidance despite Covid-19 and other challenges. The underground operations have reached a high quality level of automation, hard on the heels of the... →
Mongolia seeking pact with Rio Tinto to end copper mine expansion - FT
By: Reuters 8th February 2021 Mongolia's government is seeking an agreement from miner Rio Tinto to terminate a deal to expand the Oyu Tolgoi copper mine in the Gobi Desert, the Financial Times said, citing people with knowledge of the situation. The government has asked the Anglo-Australian mining giant whether it was... →
Diamonds forecast to regain pre-pandemic sparkle in 2022 to 2024
By: Reuters 8th February 2021 Diamond jewellery demand will recover to pre-pandemic levels between 2022 and 2024, with China leading the way, a report commissioned by the Antwerp World Diamond Centre predicted. Demand recovery will diverge depending on lockdown policies, government support, and the extent to which retailers... →
Fresh start for Eldorado Gold in Greece
By: Mariaan Webb 5th February 2021 Canada’s Eldorado Gold on Friday signed an amended investment agreement with the Hellenic Republic to govern the development, construction and operation of its mines and projects in Greece. Hailed as a “new beginning” for Eldorado and its Kassandra Mines in Greece, the agreement will pave the... →
LBMA says silver to be 2021’s top performer
By: Simone Liedtke 5th February 2021 The London Bullion Market Association (LBMA) has identified silver as the top performer among metals this year, considering that the commodity has garnered increased attention from investors over the past few days. The precious metal was up 20% in just three days, before correcting lower with a... →
Court orders Nornickel to pay $2bn fuel-spill fine
By: Bloomberg 5th February 2021 A Russian court ruled that MMC Norilsk Nickel should pay 146-billion rubles ($1.95-billion) in compensation for an Arctic fuel spill, RIA Novosti said, in line with a demand by the nation’s ecological watchdog. In July, the Federal Service for Supervision of Natural Resources, known as... →
Halt to Richards Bay Minerals project depriving South Africa of R100bn
By: Martin Creamer 5th February 2021 Rio Tinto's KwaZulu-Natal mineral sands mining company, Richards Bay Minerals, has got a major project called Zulti South that is fully permitted and fully funded – but is not being developed. Construction began in the first half of 2019, but was then brought to a halt in December 2019 amidst... →
From top left clockwise, Gary Felthun, Roger Baxter, Werner Duvenhage, Mzila Mthenjane, Advocate Thabo Mokoena and Neal Froneman.
Chaarat to raise $25m
By: Mariaan Webb 5th February 2021 Gold mining company Chaarat, which trades on London’s Aim, on Friday unveiled plans for a fundraising to raise $25-million and said an agreement with its largest shareholder would slash debt by one third. The company would raise the capital y issuing new shares at 26p each. It has received... →
Glencore’s Prodeco hands back Colombia contracts
By: Mariaan Webb 5th February 2021 Diversified major Glencore has confirmed that it is relinquishing its mining rights in Colombia, after the National Mining Agency (ANM) last month declined Prodeco’s request for its coal mines to remain on care and maintenance. Glencore says that it remains uneconomic to restart operations at... →
Volt looks at European graphite
By: Esmarie Iannucci 5th February 2021 Junior Volt Resources has signed a term sheet to potentially acquire a 70% interest in the Zavalievsky graphite business, in the Ukraine. Zavalievsky is a long life graphite operation that has been operational for 87 years, and currently produces around 250 000 t/y of crushed granite for road... →
Positive outlook for gold investment supports gold ETF inflows in January, says WGC
By: Tasneem Bulbulia 4th February 2021 Global gold exchange-traded funds recorded inflows of 13.8 t ($1-billion, 0.4%) in January, after two consecutive months of outflows in November and December, industry body the World Gold Council (WGC) says. Global assets under management now stand at 3 765 t ($226-billion), just 4% shy of the... →
$140m debt financing completed for Brazil copper/gold project
By: Mariaan Webb 4th February 2021 The Serrote copper/gold project, in Brazil, is fully funded through to production, following the completion of $140-million in debt financing, Mineração Vale Verde (MVV) and Appian Capital Advisory reported on Thursday. The debt finance facility with ING Capital, Natixis, New York Branch, and... →
Bushveld's vanadium production up 24% y/y
By: Marleny Arnoldi 4th February 2021 Aim-listed vanadium miner Bushveld Minerals has achieved a 24% year-on-year increase in vanadium production from its high-grade assets in South Africa. The company produced 3 631 t in the 12 months ended December 31, 2020, compared with the 2 931 t of vanadium produced in the prior year. →
Bushveld Minerals CE Fortune Mojapelo
Updated feasibility study for Kropz's Hinda project to be completed by September
By: Simone Liedtke 4th February 2021 Aim-listed Kropz has appointed engineering and construction firm Hatch Africa to complete an updated feasibility study on its Hinda phosphate project, in Congo-Brazzaville. The appointment follows the conclusion of a focussed logistics study, completed by Hatch in September 2020. →
Rio Tinto board could face pressure on Indigenous broken promise claim
By: Reuters 4th February 2021 Rio Tinto chairman Simon Thompson is set to face further pressure over the board's handling of the destruction of sacred rock shelters in Australia after an Indigenous group accused him of breaking a personal promise, analysts said. The traditional owners of the rock shelters said Thompson had... →
KAZ buyout group lifts bid for the miner by £700m
By: Reuters 4th February 2021 The group trying to take KAZ Minerals private said on Thursday that it has raised its bid for the copper miner by 22%, as it tries to win round minority shareholders who rejected the earlier proposal for being too low. The consortium led by KAZ chairman Oleg Novachuk and Kazakh billionaire... →
Gold supply to increase as economic recovery plans continue
By: Simone Liedtke 4th February 2021 Gold supply is likely to increase this year as a consequence of many countries continuing to implement their economic recovery plans following the Covid-19 pandemic, World Gold Council (WGC) chief market strategist John Reade said during a gold-focused discussion on the second day of this year’s... →
Bacanora raises $65m for Mexico lithium project
By: Mariaan Webb 4th February 2021 Aim-listed Bacanora Lithium has successfully raised $65-million for its Sonora lithium project, in Mexico, setting the company on a path to becoming a lithium producer in the next two years. The fundraise is the final piece of Bacanora’s 50% share of the financing required to bring into... →
Vulcan raises A$120m to advance Zero Carbon lithium
By: Esmarie Iannucci 4th February 2021 ASX-listed Vulcan Energy has completed a A$120-million institutional placement to accelerate the development of its Zero Carbon lithium project, in Germany. “We received overwhelming support for the placement from both domestic and international environmental and social governance-focused... →
Botswana intensifying effort to attract non-diamond exploration
By: Martin Creamer 3rd February 2021 Botswana has intensified efforts to digitise and make geoscience information readily available to local and international potential investors in an effort to encourage prospecting for non-diamond minerals, Botswana President Mokgweetsi Masisi told the virtual 2021 Investing in African Mining... →
Botswana president Mokgweetsi Masisi
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