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Magazine round up | 08 March 2024
Magazine round up | 08 March 2024
8th March 2024

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


Gold bars
Gold-backed ETFs record ninth month of outflows
7th March 2024 By: Marleny Arnoldi

Gold-backed exchange-traded flows (ETFs) recorded another outflow in February, extending their losing streak to nine months, with North America in the lead. Total assets under management... 


Lady Julie one of Australia’s highest margin undeveloped projects – Magnetic
7th March 2024 By: Creamer Media Reporter

The Lady Julie gold project, near Laverton, in Western Australia, is technically and financially robust, ASX-listed Magnetic Resources reported on Thursday. A prefeasibility study has confirmed... 


Minerals Council highlights progress and challenges of women in mining
7th March 2024 By: Sabrina Jardim

With the United Nations having designated the theme of this year’s International Women’s Day as ‘Invest in women: Accelerate progress’, Minerals Council South Africa president and chair of the... 


Toro expands Wiluna uranium and vanadium resources
7th March 2024 By: Mariaan Webb

Australian exploration and development company Toro Energy has expanded the stated uranium and vanadium resources at the Centipede-Millipede and Lake Way uranium/vanadium deposits by reducing the... 


Elemental Energy’s Dereck Armstrong.
Stationary hydrogen power highlighted as major solution by Toyota fuel cell-using developer
7th March 2024 By: Martin Creamer

When Engineering News & Mining Weekly covered last month’s local launch of BMW’s first hydrogen car fleet on South Africa's roads, we discovered that BMW’s hydrogen refilling station in Midrand is... 


mine shaft head
Kilimapesa restart on track following mill relining in January
7th March 2024 By: Darren Parker

Progress at the Kilimapesa mine, in Kenya, is on track since the relining of the mill in January and the restart of production, London-listed Caracal Gold CEO Robbie McCrae has said. “We look... 


Tsumeb is one of the few smelters globally that can treat complex polymetallic concentrates, including those with higher arsenic content.
Chinese group to buy Dundee's Namibia smelter
7th March 2024 By: Mariaan Webb

Canadian miner Dundee Precious Metals (DPM) will sell its Tsumeb smelter, in Namibia, to Sinomine Resources for $49-million in cash. Tsumeb is one of the few smelters globally that can treat... 


Murray & Roberts CEO Henry Laas
M&R weighing capital-light re-entry into Australian mining market
7th March 2024 By: Terence Creamer

JSE-listed Murray & Roberts (M&R) says it still intends to regain a foothold in the Australian mining market, which it lost when RUC’s Australian holding company entered voluntary administration in... 


Mantengu to issues shares to settle R7.5m creditors balance
7th March 2024 By: Tasneem Bulbulia

JSE-listed Mantengu Mining will issue 4.98-million shares to its creditors, to settle its R7.5-million creditor balance. This comes as certain parties to loan contracts, which the company... 


graphite
Tirupati to remain listed, shuffles board
7th March 2024 By: Darren Parker

Following recent speculation among investors, London-listed Tirupati Graphite has confirmed that there are no plans to take the company private, emphasising that the board remains confident that... 


Sprott Asset Management launches copper miners ETF
Sprott Asset Management launches copper miners ETF
7th March 2024 By: Creamer Media Reporter

Sprott Asset Management has launched a Copper Miners exchange-traded fund (ETF), with Freeport-McMoRan, Antofagasta and Southern Copper Corp as its top holdings by weight, it said on Wednesday. The... 


Olympio’s equity raising to accelerate Quebec lithium project
7th March 2024 By: Creamer Media Reporter

Australia-listed Olympio Metals has announced that it has received firm commitments to raise about A$1.1-million, or C$1-million, through a flow-through share placement under the Income Tax Act of... 


$3.2bn investment commitment for SolGold’s Ecuador project
$3.2bn investment commitment for SolGold’s Ecuador project
7th March 2024 By: Mariaan Webb

London- and Toronto-listed SolGold has announced a complementary investment protection agreement (IPA) for the Cascabel project, in Ecuador. The signing of a joint declaration with the government... 


Ionic nearing first production in Uganda
7th March 2024 By: Tasneem Bulbulia

ASX-listed Ionic Rare Earths has completed construction and commissioning of Phase 1 of the technical facility and demonstration plant at its Makuutu rare earths project, in Uganda. Makuutu is... 


Wilkinson announces C$15m to support Canada’s mining sector
7th March 2024 By: Mariaan Webb

Energy and Natural Resources Minister Jonathan Wilkinson has announced federal investments of more than C$15-million in projects to increase Indigenous participation and support the development of... 


DRA Global director Val Coetzee
DRA Global promotes Coetzee to executive director position
7th March 2024 By: Marleny Arnoldi

Engineering consultancy DRA Global has appointed nonexecutive director Val Coetzee as director of process and technology – an executive position – effective immediately. He will oversee the... 


Tietto Minerals' Abujar mine, in Côte d’Ivoire
Tietto goes from strength to strength following ‘undervalued’ takeover offer
7th March 2024 By: Marleny Arnoldi

As gold mining company Tietto Minerals nears full production rates at its Abujar gold mine, in Côte d’Ivoire, it is also focusing on organic growth opportunities, while Hong Kong-based Zhaojin... 


Exxaro warns of lower earnings on the back of decrease in export prices, weaker rand
7th March 2024 By: Darren Parker

Diversified resources company Exxaro Resources has warned shareholders that it is likely to report a 16% to 30% year-on-year decrease in headline earnings per share (HEPS) for the year ended... 


Pele Green Energy MD Gqi Raoleka
Pele Green Energy looking beyond R2.5bn funding innovation as it hastens towards ‘South African IPP’ vision
7th March 2024 By: Terence Creamer

Following its recent success in securing new public and private power purchase agreements, Pele Green Energy (PGE) is already having to consider additional funding options beyond the pioneering... 


UBS ditches Credit Suisse plan to phase out coal financing
7th March 2024 By: Bloomberg

UBS Group is set to scrap a planned phaseout of coal financing that Credit Suisse had backed, as the global wealth manager prepares to unveil how the merged bank will tackle climate change. After... 


China’s commodities imports surge but demand may yet disappoint
China’s commodities imports surge but demand may yet disappoint
7th March 2024 By: Bloomberg

China’s raw materials purchases surged in the first two months of the year, as importers took advantage of weaker prices for some commodities and prepared for more stimulus from Beijing to lift... 


Australian Prime Minister Anthony Albanese and Vietnam Prime Minister Pham Minh Chinh
Australia, Vietnam upgrade ties amid US-China rivalry
7th March 2024 By: Bloomberg

Australia has joined the US in elevating its diplomatic ties with Vietnam to the highest level as Canberra moves to strengthen links across the Asia Pacific against a backdrop of China’s rising... 



Jervois mothballed a project in Idaho, which would have been the first new US cobalt mine in decades, about a year ago.
Struggling Australian cobalt miner blames Chinese overproduction for job cuts
7th March 2024 By: Bloomberg

Australian miner Jervois Global is cutting costs and jobs in response to a plunge in cobalt prices that it’s blaming on Chinese oversupply. The cobalt and nickel producer has axed or made... 


First Quantum's Panama mine closure to cost around $800m, Minister says
First Quantum's Panama mine closure to cost around $800m, Minister says
7th March 2024 By: Reuters

The cost of the closure of Canadian miner First Quantum's copper mine in Panama is estimated at around $800-million, Trade and Industry Minister Jorge Rivera said on Wednesday. An inter-ministry... 


Eastplats' Zandfontein undergound operations successfully restarted
6th March 2024 By: Creamer Media Reporter

The initial phase of the Zandfontein underground operations at TSX-V- and JSE-listed Eastern Platinum's (Eastplats') flagship Crocodile River mine, in South Africa's Bushveld Complex, is now fully... 


Red Rock execs will have to personally visit DRC to resolve $10m claim
6th March 2024 By: Darren Parker

Aim-listed Red Rock Resources has noted that its senior management will have to personally travel to the Democratic Republic of Congo (DRC) to resolve a $10-million claim the company has instituted... 


Marula appoints new community relations, development manager in Kenya
6th March 2024 By: Sabrina Jardim

Mining and development company Marula Mining has appointed James Mugambi as the community relations and development manager at Muchai Mining Kenya. Mugambi will be working at the Larisoro mine, in... 


Kendal power station
Move to formalise deal on injecting private skills into Eskom amid plan to add and recover 10.6 GW by end-2025
6th March 2024 By: Terence Creamer

Government and business have set a goal of increasing South Africa’s electricity generation capacity by 10.6 GW by the end of 2025 as part of ongoing collaborative efforts to tackle growth-sapping... 


3 workers or engineers in PPE on a construction or mining site
M&R gets back on track with narrowed losses, lower debt
6th March 2024 By: Darren Parker

JSE-listed Murray & Roberts (M&R) has reported a significant year-on-year reduction in its attributable loss for the six months ended December 31, 2023, signalling a positive turn in its financial... 


Kavango reveals promising resource estimates at Zimbabwe project
6th March 2024 By: Darren Parker

Southern Africa-focussed metals explorer Kavango Resources has received a maiden resource estimate for the two largest tailings dumps at the Nara gold project, in Zimbabwe, revealing an indicated... 


Jubilee establishes separate subsidiary boards for its South African, Zambian operations
6th March 2024 By: Sabrina Jardim

Metals processor Jubilee Metals has established separate subsidiary boards for its South African and Zambian operations to better reflect the current level of business maturity of those operations.... 


China’s top coking coal miner calls on State to control supply
6th March 2024 By: Bloomberg

China’s coking coal industry needs more state protection, including restrictions on supply, according to the chairman of the biggest miner. Beijing should control mining activity, limit output and... 


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pqt: 3.589s - ct: 3.662s - 347pq - 2rq
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