R/€ = 16.78 Change: 0.07
R/$ = 15.91 Change: 0.24
Au 1819.95 $/oz Change: 25.16
Pt 958.00 $/oz Change: 21.00

Latest News

Botswana sees Russian diamond ban opening door to synthetic gems

By: Reuters     16th May 2022 Botswana, Africa's top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems to expand market share, the country's minister told a mining conference on Monday. The United States, the world largest market for natural diamonds, imposed sanctions on Russia's... 

Boost for Quebec graphite as Nouveau Monde and Mason announce investment agreement

By: Mariaan Webb     16th May 2022 Critical mineral developers Nouveau Monde Graphite (NMG) and Mason Graphite on Monday announced an investment agreement, which would focus on the development and operation of Mason’s Lac Guéret property, in Quebec. Pallinghurst-backed NMG, which owns the Matawinie project in Quebec, would enter... 

Boost for Quebec graphite as Nouveau Monde and Mason announce investment agreement

Sibanye-Stillwater hoists first tons from R4bn 4 000-job K4 platinum project 

By: Martin Creamer     16th May 2022 The first tons have been hoisted at Marikana K4, Sibanye-Stillwater’s high-return resumed platinum group metals  (PGM) project, which was largely predeveloped and equipped when acquired from the now defunct Lonmin in 2019. “The K4 project is an unrivalled, top-tier project in the PGM industry,... 

Picture supplied.
The K4 headgear of the new platinum group metals shaft.

World Coal Association welcomes new South African members

By: Tasneem Bulbulia     16th May 2022 Industry body the World Coal Association (WCA) has welcomed two new members to the growing alliance of responsible coal participants. These are Seriti, a major South African mining company that operates seven large-scale thermal coal mines, predominantly supplying State-owned utility Eskom power... 

Gold prices buckle under pressure from 'King Dollar', higher yields

By: Reuters     16th May 2022 Gold prices fell more than 1% to their lowest in three-and-a-half months on Monday as elevated bond yields and a firmer US dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher... 

Adams replaces Pichette as Monarch director

By: Creamer Media Reporter      16th May 2022 Toronto-listed Monarch Mining has appointed Renaud Adams – former CEO of New Gold – to its board of directors, replacing Christian Pichette, who is retiring from his position of director. Welcoming Adams to Monarch’s board, chairperson Michel Bouchard said on Monday that the company was... 

Equinox suspends RDM operations pending TSF raise permits

By: Mariaan Webb     16th May 2022 TSX-listed Equinox Gold on Monday announced the suspension of operations at the RDM mine, in Brazil, pending regulatory approvals for the scheduled tailings storage facility (TSF) raise. The company said it applied for the permits for the TSF raise in 2021, but that it had not yet been granted. 

Chaarat reports fatality at Kapan

By: Creamer Media Reporter      16th May 2022 Aim-quoted gold miner Chaarat Gold on Monday reported a fatality at its Kapan mine, in Armenia. The company stated that an employee of its contractor, S&A Mining, had died in a rockfall underground on May 14. The underground mining area where the incident occurred was closed and an internal and... 

Lithium sector needs $42bn as pivot from China adds costs

By: Bloomberg     16th May 2022 The global lithium industry needs as much as $42 -billion of investment by the end of the decade in order to meet demand for the crucial battery-making material, with attempts to build supply chains outside of China subject to much higher costs, according to a data and market-intelligence... 

Court redirects Somkhele mining right expansion application back to the DMRE

By: Donna Slater     16th May 2022 Coal miner Tendele Coal Mining reports that the Pretoria High Court, on May 4, sent the miner’s application for an extended mining right and environmental management programme (EMPr) for its KwaZulu-Natal-based Somkhele mine back to the Department of Mineral Resources and Energy (DMRE) for... 

South Africa’s high-flying Jubilee creating 800 mostly long-term jobs in Zambia 

By: Martin Creamer     16th May 2022 Diversified metal recovery business Jubilee, which is rolling out an investment of R786-million in South Africa and Zambia, has offered employment and contractor opportunities to more than 800 people in Zambia, the most of which are long term, the company stated in a release on Monday. In Zambia,... 

Screenshot of website image and enhancement
Copper and cobalt in Zambia and platinum group metals and chrome in South Africa.

Lundin Mining appoints new chair

By: Creamer Media Reporter      16th May 2022 Canadian base metals miner Lundin Mining has appointed Adam Lundin as chairperson to succeed Lukas Lundin, who retired from the board at the company’s 2022 meeting. Lukas Lundin recently retired as chairperson of several boards of mining companies that his family controls, including Lundin Gold... 

Consolidated Zinc formalises lithium buy

By: Esmarie Iannucci     16th May 2022 ASX-listed Consolidated Zinc has formalised an agreement to acquire Westoz Lithium, which holds exploration tenements prospective for lithium, rare earth elements and base metals, in Western Australia. The company told shareholders on Monday that the acquisition of Westoz was an exciting... 

Troy signs away some mining rights in Brazil

By: Esmarie Iannucci     16th May 2022 Gold miner Troy Resources has struck a $4-million deal for the lease and assignment of non-core mining rights in Brazil. The company on Monday announced that it had solidified a letter of intent inked in April, allowing Brazilian company PST Empreendimentos e Participacoes over certain mining... 

US risks watching global energy race from sidelines, says association

By: Mariaan Webb     16th May 2022 The National Mining Association CEO Rich Nolan has slammed the federal appeals court’s decision to block the Rosemont copper mining project, in Arizona, warning that “flawed rulings” will ensure the US watches the global energy race from the sidelines. He was responding to last week’s split... 

Woodside and BHP merger gains steam

By: Esmarie Iannucci     16th May 2022 Oil and gas major Woodside has cleared another hurdle in its merger with major BHP’s oil and gas portfolio, with the National Offshore Petroleum Titles Administrator approving the merger under the Offshore Petroleum and Greenhouse Gas Storage Act. Woodside shareholder approval is now the only... 

Nickel Mines starts commissioning of fourth line

By: Esmarie Iannucci     16th May 2022 ASX-listed Nickel Mines has started commissioning the fourth rotary kiln electric furnace (RKEF) line at its 80%-held Angel Nickel project, in Indonesia. Each of Angel’s RKEF lines has a nameplate capacity of 9 000 t/y of nickel metal, equating to 750 t of nickel metal per month. 

WA approves A$332m port spend

By: Esmarie Iannucci     16th May 2022 The Western Australian government will invest some A$332-million into the Mid West Ports Authority's Port Maximisation project, to meet increased demand for Geraldton Port services. The Port Maximisation project will be delivered over four years, facilitating growth by allowing Mid West Ports... 

FFI firms up US hydrogen plans

By: Esmarie Iannucci     16th May 2022 The green energy arm of iron-ore major Fortescue Metals, Fortescue Future Industries (FFI) on Monday announced that it would evaluate the feasibility of converting the former Centralia coal mine, in the US, into a green hydrogen production facility. The green energy company has entered into a... 

BHP unveils new concentrator at Spence

By: Esmarie Iannucci     16th May 2022 Major BHP has cut the ribbon at the new $2.46-billion copper concentrator at its Spence operations, in Chile, which will allow the operation life to extend by some 50 years. BHP told shareholders that the project supported the company’s intention to continue growing in Chile while strengthening... 

An image of the Spence project in Chile

Miners welcome green-tape cuts in WA

By: Esmarie Iannucci     16th May 2022 The resources sector has welcomed the Western Australian government’s commitment to reducing the reporting burden on industry, with Environment Minister Reece Whitby announcing that environmental reporting requirements would be stopped or halved for more than 60% of low to medium-risk industry... 

Trevali says caught unawares by downpour that flooded Burkina mine

By: Reuters     16th May 2022 Executives at Canada-based Trevali Mining said the company was caught unawares by a torrential downpour during the dry season last month in Burkina Faso that left eight men trapped underground in its Perkoa zinc mine. Rescue efforts are continuing since the flood on April 16, but there has been... 

Trevali VP Operations Hein Frey at the mine site in Burkina Faso, where rescue operations are under way.
Trevali VP Operations Hein Frey at the mine site in Burkina Faso, where rescue operations are under way.

Musk considers Indonesia trip to explore possible investments

By: Bloomberg     16th May 2022 Elon Musk, the world’s richest person, is considering a visit to Indonesia to explore investment opportunities in the resource-rich Southeast Asia country. The chief executive officer of Tesla and SpaceX met with Indonesian President Joko Widodo at the rocket manufacturer’s site in Boca Chica,... 

Chile copper mines dodge radical changes as convention vote ends

By: Bloomberg     16th May 2022 Major copper producers from BHP Group to Freeport-McMoRan will likely avoid drastic changes in the way they do business in Chile as writers of a new constitution wrapped up deliberations on mining proposals. In a vote on the Constitutional Convention floor on Saturday, a plan to replace the... 

Chile copper mines dodge radical changes as convention vote ends

Things looking interesting for platinum despite surplus  

By: Martin Creamer     16th May 2022 What the World Platinum Investment Council (WPIC) is forecasting for 2022 is a reduced but still large platinum surplus of 627 000 oz. But this surplus is extremely vulnerable to the issues the WPIC thinks may play out, particularly: 

Picture supplied
World Platinum Investment Council Research Director interviewed by Mining Weekly's Martin Creamer. Video Darlene Creamer.

Alphamin reports 32% q/q increase in Ebitda

By: Darren Parker     13th May 2022 JSE-listed tin miner Alphamin Resources has reported $98.1-million in earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter ended March. This reflected a 32% increase from the previous quarter. 

Godongwana says work under way to unblock R54bn embedded generation pipeline 

By: Terence Creamer     13th May 2022 Finance Minister Enoch Godongwana reports that work is under way with the private sector to unblock the remaining obstacles to investment of about R54-billion in embedded generation projects. Speaking during a presentation of Operation Vulindlela’s first quarter progress report, Godongwana said... 

Finance Minister Enoch Godongwana
Finance Minister Enoch Godongwana

South Africa must cut red tape to close energy gap, ANC suggests

By: Bloomberg     13th May 2022 South Africa must accelerate plans to generate more electricity itself, buy more energy from private producers and make it easier for power-hungry mining companies to build their own plants, according to a draft economic policy document compiled by the nation’s governing party. Projects outlined... 

Eastplats records strong first quarter

By: Tasneem Bulbulia     13th May 2022 Dual-listed Eastern Platinum’s (Eastplats) revenue for the three months ended March 31 increased by 4.3% year-on-year to $17.4-million. The increase in revenue was primarily owing to an increase in platinum group metal (PGM) sales for the period. 

Bauba reports R52.3m loss for eight-month period

By: Darren Parker     13th May 2022 JSE-listed Bauba Resources has reported total comprehensive losses of R52.3-million for the eight-month period ended February 28, compared with a loss of R31.4-million in the previous financial year. With effect from January 29, Bauba changed its financial year-end from June 30 to February 28 to... 

De Beers in talks with Musina municipality to resolve water issues for the community

By: Darren Parker     13th May 2022 Following protests over water shortages in Musina, Limpopo, over the past few days, a meeting was convened between the Musina local municipality, the Vhembe district municipality and diamond miner De Beers’ Venetia mine to find ways to assist the municipalities in efficiently and safely resolving... 

Copper wavers near $9 000 after fear-filled week for metals

By: Bloomberg     13th May 2022 Copper steadied and aluminum rose after a turbulent week for metals dominated by growing concerns over the state of the global economy. While metals markets were calmer Friday, prices have endured a dismal few days on fears about monetary tightening as well as demand from top consumer China.... 

South African coal consumers face tough decisions as miners prioritise exports over domestic offtakers – Jones 

By: Donna Slater     13th May 2022 A potential food crisis may be brewing in South Africa as domestic coal consumers face increasing difficulty in securing coal supplies at a fair price to fire their processing plants, says commodity insights and marketplace company African Source Markets CEO Bevan Jones. He tells Mining Weekly... 

An image of African Source Markets CEO Bevan Jones
African Source Markets CEO Bevan Jones

Relaxation of PFMA rules empowers Eskom to engage directly with OEMs, maintenance suppliers

By: Terence Creamer     13th May 2022 State-owned utility Eskom says the National Treasury’s relaxation of some procurement and supply chain management rules and processes contained in the Public Finance Management Act (PFMA) will assist it in speeding up critical and urgent procurement. The amendment, which is outlined in an... 

Eskom CEO André de Ruyter
Photo by Creamer Media's Donna Slater
Eskom CEO André de Ruyter

Positive PEA for New Brunswick manganese project

By: Creamer Media Reporter      13th May 2022 TSX-V-listed Manganese X has announced positive results from an independent preliminary economic assessment (PEA) for its Battery Hill project, near Woodstock, New Brunswick. The project is set to produce battery-grade high-purity manganese sulphate (HPMSM). The study determined that Battery... 

Appeals court also blocks proposed Arizona copper mine

By: Mariaan Webb     13th May 2022 The US Court of Appeals for the Ninth Circuit on Thursday declined to overturn a 2019 decision that blocked the development of Hudbay Minerals’ planned Rosemont openpit copper mine, in Arizona. In a split decision, the court agreed with the District Court of Arizona’s ruling that the US Forest... 

Magazine round up | 13 May 2022 

13th May 2022 A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

Magazine image
Magazine round up | 13 May 2022

Teck homes in on zinc growth options in the Americas and Australia

By: Mariaan Webb     13th May 2022 Diversified miner Teck Resources is taking a closer look at its zinc development assets in the Americas and Australia, including five substantial resources. The company will leverage the technical and commercial expertise of its ‘Project Satellite’ team, which has successfully advanced and grown... 

Three of the zinc satellite projects are in Alaska, where Teck operates the Red Dog mine (pictured).
Three of the zinc satellite projects are in Alaska, where Teck operates the Red Dog mine (pictured).
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