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South America News
South Africa keen to harness hydrogen economy opportunities, President Ramaphosa tells Indaba 
By: Martin Creamer 10th May 2022 It was just amazing to see the innovation that the mining industry is capable of scaling up, President Cyril Ramaphosa told the Investing in African Mining Indaba in his enthusiastic address on Tuesday. “Last week, I attended the launch by Anglo American of the world’s largest hydrogen-powered... →
Demand headwinds push aluminium to five-month low
By: Reuters 10th May 2022 Aluminium fell to its lowest in nearly five months on Tuesday as funds betting on lower prices due to slowing demand sold, but worries about output cuts in Europe because of high power costs are expected to provide some support. Traders said funds had been selling for some days now, initially to... →
Inflation eating into Gold Fields' Chile project, CEO says
By: Reuters 10th May 2022 Surging inflation is eating into gold miner Gold Fields' contingency cost buffer for its Salares Norte project in Chile, CEO Chris Griffith said on Monday, adding that the South Africa-listed company is seeing at least 10% inflation in the regions where it operates. The Salares Norte gold... →
Ivanhoe advances underground mine development at Platreef
By: Marleny Arnoldi 9th May 2022 TSX-listed Ivanhoe Mines has announced the completion of the Shaft 1 production changeover at the company’s Platreef platinum group metals (PGMs) and copper project in South Africa’s Bushveld Complex. Shaft 1 will serve at Platreef’s initial production shaft and is about 450 m from the first... →
Energy transition presents opportunity to build inclusive ecosystem – Wanblad
By: Martin Creamer 9th May 2022 The energy transition currently under way presents a fresh opportunity for South Africa to build a clean and inclusive energy ecosystem that can create new and significant economic opportunities for the African continent. This continent, with its vast natural reserves of abundant sun and wind,... →
AngloGold on track for to meet full-year guidance following solid first quarter
By: Tasneem Bulbulia 9th May 2022 JSE- and NYSE-listed AngloGold Ashanti reported a solid performance for the first quarter of the year, with production steady year-on-year, an increase in total cash costs limited to 4% and a strong improvement in cash flow. The company remains on track to achieve its full-year guidance. →
BHP vows to stay out of lithium rush with shortages set to fade
By: Bloomberg 8th May 2022 Among elevated metal prices, lithium stands out, as booming electric-vehicle sales send the battery component skyrocketing. Conspicuously, the world’s biggest mining company has no plans to join the rush. For BHP Group, the frenzied talk about looming lithium shortages in a clean-energy... →
Chile’s proposed mining shakeup falls short in convention vote
By: Bloomberg 8th May 2022 Proposals to severely restrict private ownership of Chile’s giant copper and lithium deposits will get one more roll of the dice after falling short in a Constitutional Convention vote Saturday. While a package of proposals passed the two-thirds threshold in the plenary, many individual articles... →
Green hydrogen can be produced in South Africa immediately, coal conference hears
By: Martin Creamer 6th May 2022 The generation of green hydrogen is achievable in South Africa immediately and is not a complicated process, Sasol just transition office head David Kawesha said on Friday. “You just need the renewable energy resource, electrolysers to split water, and that’s really what the basic process is,”... →
McCloskey's Southern African Coal Conference panel from left moderator Randy Fabi, Tracey Davies, Steve Nicholls, Jan Oberholzer and David Kawesha.
Vale signs long-term deal to supply Tesla with nickel
By: Reuters 6th May 2022 Brazilian miner Vale said on Friday it has signed a long-term deal with Tesla to supply the US-based electric vehicle maker with nickel coming from its Canada operations. Vale did not provide financial details on the deal and did not say for how long it will last. The Brazilian miner said in a... →
Chile's parched mines race for an increasingly scarce commodity: water
By: Reuters 6th May 2022 A record-breaking drought in Chile is impacting mining operations and forcing companies to escalate their search for more sources of water, from water treatment and pricey desalination plants to even encouraging workers to use less water in the shower. The Andean nation, the world's no. 1... →
Jervois on track for ICO start in third quarter
By: Esmarie Iannucci 6th May 2022 ASX- and TSX-listed battery metals company Jervois remains on track to start first ore processing at its Idaho Cobalt Operations (ICO), in the US, in the third quarter of this year. Speaking at the company’s annual general meeting, non-executive chairperson Peter Johnston told shareholders that... →
World Coal Association favours just energy transition to net zero future
By: Martin Creamer 5th May 2022 The World Coal Association, and its member companies, are in favour of a just transition to a net zero future, World Coal Association chairperson July Ndlovu said on Thursday. In his keynote address to the Southern African Coal Conference, Ndlovu emphasised the sincerity of the association’s... →
World Coal Association chairperson July Ndlovu
Gold Fields lifts first-quarter output despite macroeconomic challenges
By: Darren Parker 5th May 2022 Despite facing various global challenges, JSE-listed gold miner Gold Fields achieved a 7% year-on-year increase in attributable equivalent gold production for the quarter ended March 31. While the 580 000 oz of gold produced in the quarter was 8% lower quarter-on-quarter, Gold Fields said it... →
Albemarle raises annual outlook on surging lithium prices
By: Reuters 5th May 2022 Albemarle, one of the world's biggest producers of lithium, raised its full-year forecasts on Wednesday after surpassing quarterly profit expectations on robust demand and higher prices for the metal used in electric-vehicle batteries. The improved outlook also came in above market estimates and... →
Rio hopes for bigger spending on growth projects
By: Esmarie Iannucci 5th May 2022 Diversified miner Rio Tinto is hoping to increase its investment in growth capital to $3-billion a year, by 2023 to 2024, with a focus on energy commodities, including iron-ore. CEO Jakob Stausham told the company’s annual general meeting on Thursday that the company was well placed to grow and... →
Barrick Gold taking final steps towards developing large ‘super tier one’ copper/gold project in Pakistan
By: Martin Creamer 4th May 2022 "It’s not just tier one. This is a super tier one,” says Barrick Gold president and CEO Dr Mark Bristow of the proposed Reko Diq project, one of the largest undeveloped copper-gold porphyry deposits in the world. Bristow is scheduled to meet Pakistan’s new prime minister later this month to... →
Cash-flush Barrick Gold funding reintroduction of white rhinos to DRC national park
By: Martin Creamer 4th May 2022 Gold mining company Barrick Gold, which has just reported an outstanding set of first quarter financial results, is funding the reintroduction of white rhinos to the Democratic Republic of Congo (DRC), where it mines at Kibali Gold Mine. Since agreement on the repatriation of revenue from Kibali... →
Barrick Gold Q1 profit beat estimates, doubles dividend
By: Reuters 4th May 2022 Miner Barrick Gold doubled its quarterly dividend on Wednesday after reporting first-quarter profit above Wall Street expectations, on the back of higher gold and copper prices. Gold, traditionally seen as a safe haven to invest in during times of financial uncertainty, rose above $2 000/oz in... →
Gramalote decision now expected by end of Q3, says B2Gold
By: Mariaan Webb 4th May 2022 The Gramalote gold project, in Antioquia, Colombia, continues to enjoy strong federal and local government support, as well as continuing support from local communities, Canada-based B2Gold said on Tuesday. The company owns Gramalote in a joint venture with AngloGold Ashanti, which last week was... →
Glencore's human rights record worst in green metals, group says
By: Bloomberg 4th May 2022 Glencore has the worst human rights record among miners of metals used in renewable energy, the Business & Human Rights Resource Centre said in a report. The alleged abuses attributed to all companies range from attacks on activists to violations of environmental laws to forced relocations.... →
Livent beats profit estimates, raises forecast on higher lithium demand
By: Reuters 4th May 2022 Livent on Tuesday posted a better-than-expected quarterly profit and bolstered its 2022 revenue forecast as it benefited from higher demand for lithium used in electric-vehicle batteries, sending its shares surging 14%. The Philadelphia-based company now expects annual revenue of $755-million to... →
Scramble to tap Latin America's lithium riches accelerates
By: Reuters 3rd May 2022 Mexican President Andres Manuel Lopez Obrador said during a regular news conference on Tuesday that he has been in touch with the leaders of Bolivia, Argentina and Chile to create a lithium association. Mexico's Congress last month passed a bill to nationalise lithium, tightening control of... →
Golden Minerals appoints Galassini COO
By: Creamer Media Reporter 3rd May 2022 Colorado-based gold and silver miner Golden Minerals has announced the appointment of John Galassini as COO, effective May 9. Galassin will be responsible for leading the company’s Mexican mining operations, including the operating Rodeo gold/silver mine and the Velardena Properties, which is... →
Chile rejects Anglo’s application to extend copper mine
By: Mariaan Webb 3rd May 2022 Diversified major Anglo American said on Tuesday that Environmental Assessment Service of Chile (SEA) had formally rejected the environmental permit application for its multi-million-dollar expansion plans at Los Bronces. The decision follows SEA’s earlier recommendation that the Los Bronces... →
South Africa would do well to highlight its key iridium status to world that needs this very rare metal 
By: Martin Creamer 3rd May 2022 South Africa would do well to highlight its key iridium supply status to gain the full confidence of a world that requires this very rare platinum group metal (PGM) to advance the fast-moving hydrogen economy. Iridium is a potent co-roleplayer with PGM stalwart platinum when it comes to... →
'Painful' protests reflect years of broken promises in Peru
By: Bloomberg 3rd May 2022 The head of Peru’s biggest mine says a swift solution to rising social unrest in the country is within reach if authorities and politicians agree to address the central problem: management of public funds. Peru, the world’s No. 2 copper and zinc supplier and a major producer of silver and gold,... →
Rich nations scramble to seal coal transition deals before COP27
By: Bloomberg 3rd May 2022 As they prepare for the next round of global climate talks in November, officials from rich countries are trying to pull together a series of multibillion-dollar packages to help poor countries phase out coal. But negotiations have been snarled by national politics and Russia’s war in Ukraine,... →
South32 takes a bigger stake in Brazilian bauxite mine
By: Esmarie Iannucci 2nd May 2022 Diversified miner South32 has completed the acquisition of an additional 18.2% interest in the Mineração Rio do Norto (MRN) bauxite mine, in Brazil, from Alcoa Corporation, taking its stake in the project to 33%. “We are pleased to complete the acquisition of an additional interest in MRN,... →
Peru mine disruption to continue as MMG fails to oust protestors
By: Bloomberg 2nd May 2022 MMG is facing the possibility of a prolonged disruption at its copper mine in Peru after failing to clear the site of all protesters in an operation that has further inflamed tensions with indigenous groups. The Hong Kong-listed company’s security personnel teamed up with police this week in... →
Codelco says it is optimistic about copper price for 2022
By: Reuters 29th April 2022 Chilean state-owned mining company Codelco is optimistic about copper prices for 2022 boosted by higher demand, its president Maximo Pacheco said on Friday during a press conference. Pacheco, who spoke after a meeting with shareholders and Finance Minister Mario Marcel and Mining Minister... →
Chile's March copper production falls 7.2%
By: Reuters 29th April 2022 Copper output in Chile, the world's largest producer of the metal, fell 7.2% year on year to 462,360 tonnes in March, the country's statistics agency INE said on Friday. The agency said that there was "less ore processing in important companies in the sector." The Chilean Copper Commission... →
World lacks time, not minerals for climate-saving technology
By: Bloomberg 29th April 2022 The world isn’t cutting greenhouse gas emissions with anything like the speed required to avoid the most dangerous effects of climate change, as the latest United Nations climate report published this month affirmed. Despite this, it’s become a trope of sorts to warn that we’re in danger of going... →
Peru evictions enter second day at halted Las Bambas mine
By: Reuters 29th April 2022 Peruvian police evicted indigenous protesters from MMG's Las Bambas copper mine for a second day on Thursday, as they disperse a camp set up on company property, an adviser to the community told Reuters. The action at the Chinese-owned Las Bambas, which supplies 2% of the world's copper, follows... →
Mining giant Glencore is losing support for its climate plan
By: Bloomberg 29th April 2022 Shareholder support for Glencore Plc’s climate change strategy has weakened and the world’s top coal shipper will now have to consult with investors as it looks to defend one of its most profitable businesses. The company secured about 76% support for its climate progress report at its annual... →
Glencore guides higher full-year ferrochrome output with coal marking time
By: Martin Creamer 28th April 2022 Diversified mining and marketing company Glencore is guiding 3% higher ferrochrome performance for the whole of this year, with no change to its coal production guidance. Full-year guidance for nickel is also up by the same three percentage points but full-year 2022 zinc guidance has been reduced... →
Yamana now eyes 350 000 oz/y at Jacobina; studies Cerro Moro plant expansion
By: Mariaan Webb 28th April 2022 The Phase 2 expansion of the Jacobina mine, in Brazil, is progressing ahead of schedule and is now expected to achieve its throughput objective one-year ahead of schedule, Canada-based Yamana Gold reported on Wednesday. The company stated that the expansion would reach its Phase 2 objective of 8... →
Former Finance Minister Nene chair, Gomwe CEO of MC Mining
By: Martin Creamer 28th April 2022 The board of MC Mining has appointed former Finance Minister Nhlanhla Nene as chairperson and former Anglo Coal leading light Godfrey Gomwe as CEO of the London AIM-, Sydney ASX- and Johannesburg JSE-listed South African coal exploration, development, and mining company. The key projects of MC... →
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