R/€ = 16.77 Change: 0.08
R/$ = 15.91 Change: 0.24
Au 1816.53 $/oz Change: 21.74
Pt 953.00 $/oz Change: 16.00

Latest News

2022 Mining Indaba headlines   

13th May 2022 Mining Weekly Editor Martin Creamer attended the Investing in African Mining Indaba, in Cape Town, this week and unpacks the top stories coming out of the Indaba. 

Appea welcomes new CEO

By: Esmarie Iannucci     13th May 2022 The Australian Petroleum Production & Exploration Association (Appea) has announced the appointment of Samantha McCulloch as CEO. McCulloch will join Appea from the International Energy Agency, having led the IEA Carbon Capture, Utilisation and Storage (CCUS) Unit since 2018.  

Neometals JV signs deal with Mercedes-Benz

By: Esmarie Iannucci     13th May 2022 ASX-listed Neometals on Friday announced that its joint venture with SMS Group, Primobius, had inked a conditional, binding agreement with Mercedes-Benz subsidiary LICULAR to develop a battery recycling plant. Mercedes-Benz in March tapped Primobius as its technology partner for the design and... 

Trident’s lithium-powered locomotives engendering benefits for mining operations  

By: Tasneem Bulbulia     13th May 2022 Original-equipment manufacturer Trident SA has diversified its offering and is now providing lithium-powered batteries for locomotives used by global mining operations. During a visit to the company’s site in Germiston, Gauteng, where the locomotives and battery packs are assembled, Trident... 

An image showing a Trident SA lithium battery pack for a mining locomotive
Photo by Creamer Media's Tasneem Bulbulia
Trident SA lithium battery pack for locomotive

Hitachi Energy selected for haul truck electrification solution

By: Tasneem Bulbulia     13th May 2022 Global technology company Hitachi Energy has been selected as a technology vendor in the Charge On Innovation Challenge. Founded by BHP, Rio Tinto and Vale, together with multiple industry patrons, the initiative sees the world’s mining industry unite to solve one of the biggest challenges in... 

Peru community wants its land back, threatening Chinese copper mine

By: Reuters     13th May 2022 The community of Fuerabamba in the Andean region of Peru was resettled eight years ago to make way for a giant Chinese-owned copper mine, in a $1.2-billion scheme billed as a model solution to protests dogging the South American nation's mining sector. Now the community wants the land back. In... 

Nornickel is first Russian firm to get OK to keep listing abroad

By: Reuters     13th May 2022 Metals giant Nornickel has become the first Russian company to be granted permission by a government commission to keep its listing abroad - for one year for now. Nornickel, the world's largest producer of palladium and refined nickel, and other large Russia-registered firms have sought... 

LBMA, WGC advance pilot of Gold Bar Integrity initiative

By: Marleny Arnoldi     13th May 2022 The London Bullion Market Association (LBMA) and the World Gold Council (WGC) have selected two vendors, blockchain technology start-up companies Axedras and Peer Ledger, to participate in a pilot phase of the organisations’ Gold Bar Integrity initiative. The initiative is aimed at digitally... 

Billionaire eyes Washington’s last coal plant for green hydrogen

By: Bloomberg     13th May 2022 The clean energy unit of Australia’s Fortescue Metals Group is considering building a green hydrogen facility near Washington State’s last operating coal-fired power station. Fortescue Future Industries entered into a binding exclusivity agreement with an industrial park near TransAlta’s... 

BHP targets Chile expansion under 'right conditions' - CEO

By: Reuters     13th May 2022 Global mining giant BHP Group is keen to expand operations in Chile, the world's top copper producer, under "appropriate conditions," CEO Mike Henry said on Thursday. The mining sector in the Andean nation faces uncertainty as the country drafts a new constitution, which could lead to tighter... 

BHP CEO Mike Henry
BHP CEO Mike Henry

BHP plans to double spending with Indigenous vendors

By: Esmarie Iannucci     13th May 2022 Diversified miner BHP’s iron-ore division is aiming to more than double its spend with Indigenous vendors to more than A$300-million by the end of the 2024 financial year. BHP asset president Western Australian iron-ore Brandon Craig said BHP wanted to do much more to build sustainable,... 

Image shows iron-ore operations in the Pilbara

Copper Mountain avoids Eva sale speculation

By: Esmarie Iannucci     13th May 2022 Dual listed Copper Mountain Mining has refused to be drawn into speculation that it was intending to sell its Eva copper project, in Queensland. The miner was responding to media reports that it was making moves to divest the asset. 

Gold Road makes inroads in DGO takeover

By: Esmarie Iannucci     13th May 2022 Gold miner Gold Road Resource’s takeover offer for fellow listed DGO Gold is gaining traction, with Gold Road on Friday noting that the company now held a 20.35% interest in the takeover target. Gold Road in April launched the A$308-million takeover offer for DGO, offering offering 2.16 of its... 

Nyrstar secures bi-partisan approach for zinc investment ahead of election

By: Esmarie Iannucci     13th May 2022 Zinc major Nyrstar on Friday announced it had secured bi-partisan support for its investment 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. Nyrstar earlier this month announced... 

Global diamond trade fractures under the weight of Russia sanctions

By: Bloomberg     13th May 2022 Russia’s invasion of Ukraine is fracturing a billion-dollar trade that spans the permafrost-laden diamond mines of Siberia, secretive trade houses in Antwerp, dusty polishing powerhouses in India and New York’s glittering designer jewellery stores. Russian mining giant Alrosa supplies about a... 

Now you can own a fraction of a fancy coloured diamond

By: Bloomberg     13th May 2022 A new fractional ownership business centered on fancy colored diamonds will launch on May 18. Luxus, founded by hedge fund expert Dana Auslander and fashion journalist Gretchen Gunlocke Fenton, will debut with a first offering of a .54 carat fancy pink diamond. 

Investors are rushing back into Africa’s copper country

By: Bloomberg     13th May 2022 Mining investors are stampeding back into a region many had seemed determined to leave. Straddling the border of Zambia and the Democratic Republic of Congo, a vast forested area roughly the size of Portugal contains one of the world’s richest caches of minerals: copper for wires and cables, and... 

Investors are rushing back into Africa’s copper country

Metal demand seen surging for decades on strength of energy transition, World Bank says

By: Bloomberg     13th May 2022 Demand for metals used in everything from wind-turbine blades to batteries will surge for decades to come, driven by efforts to decarbonize the global economy and shift away from fossil fuels, according to the World Bank. Even as consumption growth for other commodities like grain probably will... 

Families desperately await news of Burkina miners trapped for 26 days

By: Reuters     13th May 2022 The families of eight missing miners in Burkina Faso desperately awaited news from rescue teams continuing on Thursday to locate the men who have been stuck underground for 26 days. There has been no communication with the miners since they were trapped more than 500 metres (1,640 ft) below... 

Sierra Leone says will no longer provide forex for mining companies importing fuel

By: Reuters     13th May 2022 Sierra Leone will no longer provide foreign exchange for mining companies and other large businesses to import oil as of June 1, accusing them of "stockpiling diesel fuel", its Petroleum Regulatory Agency said in a statement. Sierra Leone has a large mining industry, mainly based on diamonds,... 

Mining production down 9.3% y/y in March

By: Creamer Media Reporter      12th May 2022 South Africa's mining production decreased by 9.3% year-on-year in March, with the largest negative contributors being gold, iron-ore, manganese ore and platinum group metals. Diamond production, which increased by 44.3% year-on-year, made a significant positive contribution to the overall figure. 

DBSA, IDC and NEF team up to mobilise finance for just transition to low-carbon economy 

By: Terence Creamer     12th May 2022 The CEOs of three leading South African development finance institutions (DFIs) have established a collaborative platform, known as the DFI CEOs Forum, that aims to support the financing of the country’s just transition to a low-carbon economy and climate resilient society by 2050. Led by... 

Workers installing solar panels

Electricity, water supply, safety concerns dent Harmony’s third-quarter performance

By: Creamer Media Reporter      12th May 2022 Electricity disruptions and water supply constraints contributed to a difficult production environment at the South African operations of Harmony Gold for the three months ended March 31. Production for the quarter – the third of its 2022 financial year – decreased by 11% quarter-on-quarter to... 

Caledonia posts highest first-quarter output on record

By: Marleny Arnoldi     12th May 2022 Dual-listed Caledonia Mining Corporation posted earnings before interest, taxes, depreciation and amortisation (Ebitda) of $14.6-million for the quarter ended March 31, compared with Ebitda of $9.7-million reported for the quarter ended March 31, 2021. Adjusted earnings per share (EPS) amounted... 

Jogmec reiterates support to finalise funding for Waterberg project

By: Marleny Arnoldi     12th May 2022 Canadian miner Platinum Group Metals (PTM) has signed a memorandum of understanding (MoU) with fellow shareholder in the Waterberg palladium project – Japan Oil, Gas and Metals National Corporation (Jogmec) – to accelerate financing opportunities for the project. During a meeting on the sidelines... 

Zambian energy crisis opening way to clean energy for the country and its mines

By: Rebecca Campbell     12th May 2022 The energy crisis in Zambia had created a situation in which the country could combine increasing its electricity generation capacity with a simultaneous transition to low-carbon renewable energy sources. This was pointed out to Mining Weekly Online by Zambian State-owned group ZCCM Investments... 

Uzbek copper producer plans local IPO this year

By: Reuters     12th May 2022  Uzbek copper, silver and gold producer Almalyk Mining and Metals Combine (AGMK) announced a tender on Thursday to hire an underwriter to conduct an IPO on the local stock exchange this year. According to the announcement on the Uzbek Republican Commodity and Raw Materials Exchange, the deadline... 

Any just transition needs to consider jobs, communities – coal panel 

By: Irma Venter     12th May 2022 Any just transition, particularly in Africa and South Africa, needs to be job centered, says World Coal Association CEO Michelle Manook. Speaking at the Just Transition & The Future of Coal in Africa panel at the Investing in African Mining Indaba 2022, held this week, she noted that coal-fired... 

Image of World Coal Association CEO Michelle Manook, Minerals Council South Africa Environment, Health and Legacies senior executive Nikisi Lesufi, Exxaro Resources CEO-designate Dr Nombasa Tsengwa and Council for Geoscience CEO Mosa Mabuza
From left to right is Lesufi, Mabuza, Manook and Tsengwa

Copper tumbles to 7-month low as slowdown fears rock markets

By: Reuters     12th May 2022 Copper prices tumbled on Thursday to their lowest in seven months and other industrial metals fell as traders worried that a slowing global economy would require less metal. With inflation surging and interest rates rising, growth fears also pushed down oil prices and stock markets hit a... 

Arc, Anglo reveal plans to form copper/cobalt mining JV in Zambia

By: Darren Parker     12th May 2022 Junior exploration company Arc Minerals has entered into an agreement with a subsidiary of diversified miner Anglo American, which formalises the parties’ intention to form a joint venture (JV) with respect to Arc’s copper/cobalt project in the North-Western province of Zambia. Under the... 

Eskom sets August 2024 target date for return of damaged Medupi 4 

By: Terence Creamer     12th May 2022 Electricity utility Eskom has set a target date of August 2024 for the return to service of Medupi Unit 4, the generator of which was “catastrophically” damaged during an explosion on August 8, 2021. Acting generation MD Rhulani Mathebula, who has stepped into the role following the resignation... 

Eskom acting generation MD Rhulani Mathebula
Photo by Creamer Media Chief Photographer Donna Slater
Eskom acting generation MD Rhulani Mathebula

Canada launches call for proposals for critical mineral development

By: Creamer Media Reporter      12th May 2022 Canadian Natural Resources Minister Jonathan Wilkinson on Wednesday announced a call for proposals for the Critical Minerals Research, Development and Demonstration Programme (CMRDD). This component of the programme would provide C$10.95-million in funding for pilot plants and projects to... 

Mining faces 'extraordinary' pressures, says Argonaut CEO as Magino costs surge

By: Mariaan Webb     12th May 2022 While Canadian gold miner Argonaut is still reviewing the final cost estimate for the Magino project, in Ontario, CEO Larry Radford warned on Wednesday that the project's costs could increase by a further C$120-million. This compares with the C$800-million estimate that Argonaut provided before... 

The Magino project (May 2022)
The Magino project (May 2022)

Gold to play increasingly important role as climate risk asset, Heymann says

By: Darren Parker     12th May 2022 Gold is going to play an increasingly important role as a climate risk and resilience asset, World Gold Council (WGC) CFO Terry Heymann told Mining Weekly on May 11. “Gold is well understood as a risk mitigating asset and climate change is simply another lens with which to view that,” he said. 

gold bars

More turbulence reported at DRA

By: Esmarie Iannucci     12th May 2022 ASX- and JSE-listed DRA Global on Thursday announced that its CFO Adam Buckler was no longer employed with the company. GM for corporate finance, Michael Sucher will now assume the role of acting CFO while the company undertakes a management search to fill the role on a permanent basis. 

Large-scale gold miners should help legitimate artisanal miners access formal markets

By: Darren Parker     12th May 2022 While a large proportion of artisanal or small-scale gold mining (ASGM) in Africa is illegitimate, companies operating in the large-scale gold mining (LSGM) sector in Africa should work to support responsible and legitimate ASGM operations wherever feasible and help them access the formal global... 

World Gold Council CFO Terry Heymann
World Gold Council CFO Terry Heymann

Congo mines Minister seeks to cancel artisanal cobalt monopoly

By: Reuters     12th May 2022 Democratic Republic of Congo Mines Minister Antoinette N'Samba Kalambayi is seeking to cancel a decree granting Entreprise Generale du Cobalt (EGC) a monopoly over artisanal cobalt produced in the country, she told Reuters on Wednesday. EGC was created to buy, process and market artisanal cobalt... 

Pan African completes R50m share buyback

By: Marleny Arnoldi     12th May 2022 Aim- and JSE-listed Pan African Resources has completed Phase 1 of its share buyback programme announced in April, having bought back 11.8-million ordinary shares for R50.3-million, or £2.55-million. About 7.5-million shares were bought back on the LSE, while the remainder was repurchased on the... 

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