R/€ = 17.12 Change: -0.16
R/$ = 16.84 Change: -0.31
Au 1732.90 $/oz Change: -72.31
Pt 847.50 $/oz Change: -29.40

South America News

Chile open to all paths to lithium mining, Minister says

By: Reuters     3rd June 2022 Chile's Mining Minister on Thursday said the country was open all paths to develop its lithium reserves and would work to rebuild trust after its supreme court voided two contracts for the battery metal because of opposition from indigenous groups. The supreme court on Wednesday accepted appeals... 

Meteoric strikes A$30m deal over Brazilian gold project

By: Esmarie Iannucci     3rd June 2022 ASX-listed Meteoric Resources has struck a A$30-million agreement to divest of its Juruena gold project, in Brazil. The company has signed a termsheet with Keystone Resources, which is a wholly-owned subsidiary of Alchemist Investments Inc. 

Image shows Australian currency

Junior explorer scores big in Namibian gold belt where mining majors failed  

By: Martin Creamer     2nd June 2022 If you want to raise real risk capital for exploration, you need Canadian-style investors to provide it, the 2022 Junior Indaba heard on Thursday. While it was acknowledged that South Africa has the money, it was also reiterated that the country is just not channeling it into exploration, where... 

Osino Resources CEO Heye Daun
Junior Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Chile's Boric pushes for unity amid challenges in first state of the union

By: Reuters     2nd June 2022 Chilean President Gabriel Boric struck a conciliatory tone and outlined his government's plans to tackle a slew of issues amid a sharp drop in his approval rating during his first State of the Union Address on Wednesday. Emphasizing the need for all Chileans to work together to address issues... 

Chile starts sanction process against Los Pelambres copper mine

By: Reuters     2nd June 2022 Chile's environmental regulator initiated a sanction process against Antofagasta Minerals' Los Pelambres copper mine for deficiencies associated with tailings management, the agency said in a statement released on Wednesday. The Environmental Superintendent (SMA) filed one minor and two major... 

Chile starts sanction process against Los Pelambres copper mine

Far-reaching JSE reforms highlighted at exploration-focused Junior Indaba 

By: Martin Creamer     1st June 2022 The June 1 launch of the JSE’s new Cutting Red Tape initiative to make listing on the JSE considerably easier, faster and more sustainable is twinning with JSE’s recent private placements inventiveness that provides for the raising of capital in the private market for minerals exploration and the... 

Picture supplied by JSE.
JSE head of origination and deals Sam Mokorosi.

Day of Women in Mining set for June 15 to showcase inclusivity

By: Donna Slater     1st June 2022 Not-for-profit women in mining empowerment organisation International Women in Mining (IWiM) has launched International Day of Women in Mining on June 15 to acknowledge and celebrate past, present and future women in mining. The International Day of Women in Mining is intended to raise awareness... 

Global copper supply to outpace demand next year, says RBC

By: Reuters     1st June 2022 Global copper supply will outpace demand over the next two years, helped by several upcoming large mine projects, RBC Capital Markets analysts said on Wednesday. The brokerage in a note said it expects the industrial metal's price to be at $4.32 per pound in 2022, and then drop to $3.75 in 2023... 

An image of copper cathodes

Adventus and Salazar receive ESIA approval for Ecuador project

By: Creamer Media Reporter      1st June 2022 The Ecuador government has approved the environmental and social impact assessment (ESIA) for the Curipamba-El Domo project, paving the way for the citizen participation process, final environmental licence issuance and formal construction decision in the second half of the year. The ESIA... 

Challenger reports maiden 2.1Moz resource in Argentina

By: Esmarie Iannucci     1st June 2022 Junior Challenger Exploration has reported a 2.1-million ounce resource at its flagship Hualilan old project, in Argentina. The mineral resource estimate was based on 125 700 m of drilling from a 204 000 m diamond core drill programme, and Challenger told shareholders on Wednesday that the... 

RDM’s TSF raise approved, says Equinox

By: Creamer Media Reporter      1st June 2022 Dual-listed Equinox Gold has received approval for the tailings storage facility (TSF) raise at its RDM mine, in Brazil, with the contractor set to start work in early June. The company previously suspended operations at the RDM mine, pending regulatory approvals for the TSF raise. Equinox said... 

Blaze at Peru's Las Bambas copper mine as tension rises

By: Reuters     1st June 2022 A fire broke out on Tuesday in Peru's massive Las Bambas copper mine, a source told Reuters, amid clashes between police and an indigenous community that has occupied space there for more than a month. MMG's mine, which accounts for about 2% of global supply, had to suspend operations last month... 

Woodside completes BHP merger

By: Esmarie Iannucci     1st June 2022 The merger between oil and gas major Woodside Energy Group and diversified miner BHP’s petroleum assets have been completed. Woodside has acquired the entire share capital of BHP Petroleum International (BHPP) and issued more than 914.7-million new Woodside shares to BHP, which BHP will... 

Image shows the Woodside building

Oil powers to sixth monthly gain as EU set to curb Russian flows

By: Bloomberg     31st May 2022 Oil headed for the longest run of monthly gains in more than a decade as European Union (EU) leaders agreed to pursue a partial ban on imports of crude from Russia to increase pressure on Moscow for its invasion of Ukraine. Global benchmark Brent topped $122 a barrel, hitting a two-month high.... 

Eramet eyes more South American lithium in battery shift

By: Reuters     31st May 2022 Eramet is interested in developing more lithium production sites in South America, including in Chile and Bolivia, as it pursues a shift towards minerals for electric vehicle batteries, the French mining firm's strategy head said. The company was also looking at potential for building more... 

Gold Fields sets sights on further growth with proposed buyout of Yamana 

By: Tasneem Bulbulia     31st May 2022 JSE- and NYSE-listed Gold Fields and Americas-focused gold producer Yamana Gold have entered into a definitive agreement under which Gold Fields will acquire all of the outstanding common shares of Yamana Gold pursuant to a plan of arrangement. The transaction implies a valuation for Yamana of... 

An image of Gold Fields CEO Chris Griffith
Chris Griffith

Sibanye appoints chief regional officers for Americas, Southern Africa

By: Creamer Media Reporter      31st May 2022 Multinational mining and metals group Sibanye-Stillwater has appointed Charles Carter as Americas chief regional officer, with effect from June 1, as the group establishes a regionalised leadership structure to help it deliver on its corporate strategy. The new regionalised leadership structure... 

Transnet increasing rail and port capacity allocation for emerging miners 

By: Martin Creamer     30th May 2022 To reduce barriers to entry, improve the ease of doing business and support transformation of the mining sector, measures are to be implemented to increase rail and port capacity allocation for emerging miners, Transnet announced on Monday. Improving access to loading facilities, and simplifying... 

Picture from Creamer Media files.
Rail capacity allocation for emerging miners to be increased.

Appian lodges $1.2bn compensation claim against Sibanye 

By: Mariaan Webb     30th May 2022 Private equity funds group Appian Capital Advisory has lodged a claim in the High Court of England and Wales seeking compensation from South Africa-based Sibanye-Stillwater, after the miner in January terminated a $1.2-billion transaction to buy Brazilian mining assets. Appian claimed that... 

Appian lodges $1.2bn compensation claim against Sibanye

Goldman says bull market in battery metals is finished for now

By: Bloomberg     30th May 2022 Goldman Sachs Group said the price of three key battery metals -- cobalt, lithium and nickel -- will drop over the next two years after investors wanting exposure to the green-energy transition piled in too quickly. “Investors are fully aware that battery metals will play a crucial role in the... 

Goldman says bull market in battery metals is finished for now

Azure strikes A$20m deal over Mexican assets

By: Esmarie Iannucci     30th May 2022 ASX-listed Azure Minerals has struck a binding, conditional sale agreements to sell its Mexican precious and base metals projects to mineral resources developer Bendito Resources Inc for A$20-million in cash and shares. Bendito intends to list on the TSX within 18 months of completing the... 

G7 countries say strict environmental rules needed for deep-sea mining

By: Reuters     30th May 2022 The Group of Seven countries on Friday agreed stringent environmental controls should govern deep-sea mining and that they would consent to such mining projects only if they did not seriously harm the marine environment. "We determined that if there is deep-sea mining at all, it should only... 

SilverCrest starts commissioning at Las Chispas

By: Creamer Media Reporter      27th May 2022 Ausenco Engineering Canada has completed construction of the Las Chispas processing plant, in Mexico, and handed it over to SilverCrest Metals, the Canada-based precious metals company reported on Thursday. Other construction activities handled directly by SilverCrest, including road, bridge, dry... 

South Africa must reform its regulatory environment, make itself investor-friendly – simple  

By: Martin Creamer     26th May 2022 South Africa must reform its regulatory environment and make itself investor-friendly – simple. That is the straight-forward view of Dr Mathews Phosa, who was speaking to Mining Weekly in his capacity as the non-executive vice-chairperson of the high-flying Jubilee Metals Group plc, a London Aim-... 

Picture supplied
Jubilee's Dr Mathews Phosa interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Copper extends losses on fears of a global recession

By: Reuters     26th May 2022 Copper prices fell for a third day in a row on Thursday and tin slumped to a one-week low as a gloomy economic outlook for top metals consumer China fanned concerns about a global recession, though a soft US dollar lent some support. Three-month copper on the London Metal Exchange was down 0.3%... 

Copper extends losses on fears of a global recession

The trouble with lithium

By: Bloomberg     26th May 2022 Elon Musk wants to mine it, China is scouring Tibet for it, battery makers are crying out for it. Lithium, the wonder metal at the heart of the global shift to electric cars, is in a full-blown crisis. Demand has outstripped supply, pushing prices up almost 500% in a year and hindering the... 

Hydrogen can be stored in existing fossil fuel infrastructure for years, world webinar hears  

By: Martin Creamer     26th May 2022 Hydrogen can be stored in existing fossil fuel infrastructure for years if need be, giving it the potential to become a universal energy carrier in the same way as oil is now but without the environmental impact, World Hydrogen Leaders webinar heard this week. Allowing hydrogen to make use of... 

Picture provided.
Hydrogenious LOHC Technologies strategy and implementation head Dr Andreas Lehmann.

Growth worries push copper prices lower

By: Reuters     25th May 2022 Prices of copper and most other industrial metals fell on Wednesday on concerns that slowing economic growth and Covid-19 lockdowns in top consumer China would depress demand. Benchmark copper on the London Metal Exchange (LME) was down 1.5% at $9 310 a tonne at 11:28 GMT. 

Platinum-boosted South African hydrogen electrolyser leaps ahead   

By: Martin Creamer     25th May 2022 The proof-of-concept of the platinum group metals-boosted advanced alkaline electrolyser – the AAE ­– has been successfully completed by Hydrox Holdings of Randburg in a pioneering achievement that offers the potential for South Africa to enter the fray as world demand for hydrogen electrolysers... 

Creamer Media photographer.
Hydrox CEO Corrie de Jager interviewed by Mining Weekly’s Martin Creamer.

Severe global battery shortage likely post 2025, GlobalData forecasts

By: Schalk Burger     25th May 2022 Extraction of raw materials will not meet soaring battery demand unless capital markets change course in the face of environmental, social and governance pressures and invest heavily in new mines, says business data and analytics company GlobalData in its 'Batteries – Thematic Research' report.... 

Hunt for lithium sparks frantic rush into Argentine mountains

By: Bloomberg     25th May 2022 At a lavish lunch this month in Buenos Aires, 400 mining executives and government officials gathered to toast Argentina’s natural resource riches amid the kind of corporate giddiness not seen since the country’s first attempt to develop its shale oil resources a decade ago. The attraction for... 

Peru community sees 'progress' in resolving Las Bambas mine standoff

By: Reuters     25th May 2022 The leader of a Peruvian indigenous community, whose protest led MMG's Las Bambas copper mine to suspend operations over a month ago, said on Tuesday that "progress" has been made toward a solution to the crisis. "We are moving forward thinking about the country at large, for the good of the... 

Glencore settles most bribery, manipulation investigations 

By: Martin Creamer     25th May 2022 Diversified mining and marketing company Glencore on Wednesday announced the settlement of most of its bribery and market manipulation investigations. This follows almost four years of investigations and a serious environmental social and governance (ESG) overhang over the group, 

Picture supplied
Glencore CEO Gary Nagle.

Gold Fields on track with ESG initiatives

By: Tasneem Bulbulia     24th May 2022 Gold producer Gold Fields has provided comprehensive environmental, social and governance (ESG) information through a number of recently released reports and presentations. The company says these address the increased data and information expectations of its stakeholders, including its... 

Ferrous metals, coal most exposed to climate risk in metals and mining sector – Fitch  

By: Tasneem Bulbulia     24th May 2022 Thermal coal, blast furnace-basic oxygen furnace (BF-BOF) steelmaking and its raw materials are the segments of the metals and mining sector that are most vulnerable to long-term climate risks owing to their large direct emissions, credit ratings agency Fitch Ratings says. Demand for many... 

Legendary lithium riches from Bolivia's salt flats may still just be a mirage

By: Reuters     24th May 2022 On Bolivia's Salar de Uyuni, a vast white salt flat that feels almost otherworldly, Karina Quispe is watching from the sidelines a global resource race for the world's largest - and almost untapped - trove of battery metal lithium. Her village on the edge of the salar - from where most of the... 

Chile to cushion the blow of glacier ban on giant copper mines

By: Bloomberg     24th May 2022 Chile’s government is looking at a gradual implementation for a proposed ban on mining near glaciers in order to limit the impact on some of the world’s biggest copper mines and their planned projects high in the Andes. In an interview Monday, Mining Minister Marcela Hernando identified about 20... 

Chile to cushion the blow of glacier ban on giant copper mines

Sevenfold increase in yearly clean hydrogen needed to hit 2050 net-zero target  

By: Martin Creamer     23rd May 2022 Annual production of clean hydrogen would need to increase more than sevenfold for the world to hit net zero in 2050, say the leading founders of McKinsey & Company’s platform for climate technologies, Bernd Heid of Cologne, Martin Linder of Munich, and Mark Patel of San Francisco, who add that... 

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South Africa's sun and wind can contribute to crucial job creation.
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