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Mining News

St Barbara targets more cost cuts

By: Esmarie Iannucci     27th July 2022 Gold miner St Barbara is targeting a slew of cost saving initiatives between now and 2024. In its quarterly report for the period ended June, the company told shareholders that the move of its head office from Melbourne to Perth at the end of August, would enable an initial A$5-million of... 

IGO revenue rises in June quarter

By: Esmarie Iannucci     27th July 2022 Battery metals miner Independence Group (IGO) has reported a 13% increase in sales revenue and an 11% increase in underlying earnings before interest, tax, depreciation and amortisation (Ebitda) for the quarter ended June. Sales revenue in the June quarter reached A$277.9-million, up from the... 

Image shows a nickel mine

South African miners commit to playing their part to support new energy plan

By: Creamer Media Reporter      26th July 2022 Minerals Council South Africa says it supports the inclusion of the private sector in government's plan to resolve the country's electricity crisis. "President Cyril Ramaphosa outlined a detailed plan by the government to abolish the 100 MW licensing cap on private sector renewable energy... 

Steel market embracing need for decarbonisation, says Kumba Iron Ore  

By: Martin Creamer     26th July 2022 At a time when steelmakers the world over are taking strong steps to decarbonise steelmaking, Kumba Iron Ore’s high-quality, high-lump iron-ore is highly sought after, which positions the Johannesburg Stock Exchange-listed mining and marketing company well in the global fight against climate... 

Kumba Iron Ore CEO Mpumi Zikalala.
Kumba Iron Ore results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

JV company offering complete thermoplastic piping system solutions

By: Simone Liedtke     26th July 2022 South African joint venture (JV) company African Pipes, Valves & Fittings (APVF) Piping Systems offers a complete thermoplastic piping system for the industrial, gas and mining markets. The JV between fuel supplier Bohlale Energy and investment company African Rainbow Capital (ARC) is a Level 2... 

JV company offering complete thermoplastic piping system solutions

Alphamin sets another quarterly production record

By: Creamer Media Reporter      26th July 2022 TSX-V- and AltX-listed Alphamin Resources produced 3 180 t of contained tin from its Mpama North mine, in the Democratic Republic of Congo, in the second quarter – a new record and 4% higher than production in the first quarter. The company reported on July 26 that year-to-date contained tin... 

Rio Tinto, Fortescue record profits near end on price view, dim demand

By: Reuters     26th July 2022 Australian iron-ore miners Rio Tinto and Fortescue Metals Group are unlikely to see a repeat of record profits booked in recent years as they face soaring costs, falling prices and a tight labour market. Rio Tinto, the world's biggest iron-ore producer, may see its first-half earnings drop by... 

Specialist inspection, non-destructive testing company continues providing quality through experience

By: Simone Liedtke     26th July 2022 Over the past 41 years De-Tect Unit Inspection & Cooperheat of Africa has grown into one of the leading companies providing specialised inspection, non-destructive testing (NDT), and thermal services to various industries. The company, which strives to provide quality backed by its extensive... 

Specialist inspection, non-destructive testing company continues providing quality through experience

Mining firms blow cold on India's plan to dig deep for coal

By: Reuters     26th July 2022 India's plan to auction abandoned coal mines to private firms to meet rising energy demand has brought little cheer to the industry as running the mines poses financial, technological and safety risks companies are reluctant to take on, analysts said. Grappling with unprecedented energy and... 

Mining firms blow cold on India's plan to dig deep for coal

Pangolin enters into agreement to buy Botswana diamond assets

By: Darren Parker     26th July 2022 TSX-V-listed Pangolin Diamonds has entered into a letter of agreement, as of July 15, to acquire from Amulet Diamond Corporation all of the issued and outstanding shares of Amulet Diamond Botswana (Amulet Bots) for a nominal consideration. Amulet Bots holds certain plant and equipment assets... 

Exxaro partners with YES Programme to increase job opportunities for the youth

By: Tasneem Bulbulia     26th July 2022 Diversified mining and renewable energy solutions company Exxaro Resources has established a partnership with nonprofit organisation the Youth Employment Service (YES). Through this partnership, programmes will be implemented across Exxaro’s coal mining operations in Limpopo and Mpumalanga to... 

DRA Projects, Fraser Alexander reach settlement on Elikhulu project claims

By: Tasneem Bulbulia     26th July 2022 Diversified global engineering, project delivery and operations management group DRA Global’s subsidiary DRA Projects and mining services company Fraser Alexander have reached a settlement in respect of all claims between the parties, prior to the start of an arbitration hearing related to the... 

Merafe to post higher interim earnings

By: Marleny Arnoldi     26th July 2022 JSE-listed chrome miner Merafe Resources expects to report basic earnings per share (EPS) of between 34.7c and 39.3c for the six months ended June 30, which would be a 51% to 71% improvement on the basic EPS of 23c reported for the six months ended June 30, 2021. The company says its financial... 

Copper Mountain lops off 15Mlb from guidance

By: Creamer Media Reporter      26th July 2022 TSX-listed Copper Mountain, which operates its namesake mine Canada and an owns a project in Australia, has lowered its full-year production guidance to between 65-million and 75-million pounds, following a weaker first-half performance. The company previously guided production of 80-million to... 

Assays reveal multiple high-grade zones at Premier’s Zulu project

By: Donna Slater     26th July 2022 Diversified explorer and developer Premier African Minerals reports that recent drilling at its Zulu lithium and tantalum project, in Zimbabwe, has intersected multiple thick high-grade zones. Assay results from drill hole ZDD075 revealed 1.29% lithium oxide and 62 parts per million (ppm) of... 

Copper rises on supply risks and softening dollar

By: Reuters     26th July 2022 Copper prices rose on Tuesday, as supply risks flagged by major producers offset demand concerns, while a softening dollar made the metal cheaper for holders of other currencies. Three-month copper on the London Metal Exchange rose 2.2% to $7 640/t by 07:09 GMT, while the most-traded September... 

Greenland Minerals to object govt's draft decision on rare earth licence

By: Reuters     26th July 2022 Greenland Minerals said on Tuesday it will object to the Greenland government's draft decision to not grant it a license for the Kvanefjeld rare-earths project citing a legislation that effectively bans uranium exploration. The Australia-listed miner said it will lodge an objection against the... 

Osisko’s NWT zinc project remains robust despite inflationary pressures

By: Mariaan Webb     26th July 2022 The updated preliminary economic assessment (PEA) for the Pine Point zinc project, in the Northwest Territories, remains “very robust”, despite capital and operational cost escalations in the current inflationary environment, TSX-V-listed Osisko Metals reports. The updated PEA calculated an... 

Court backs Vimy/Deep Yellow deal

By: Esmarie Iannucci     26th July 2022 The Supreme Court of Western Australia has backed a A$658-million merger between ASX-listed Vimy Resources and fellow listed Deep Yellow. The two companies in April announced the merger agreement under which Deep Yellow would acquire all of the shares in ASX-listed Vimy, with Vimy shareholders... 

Telfer and Woodyer to lead merged Americas gold miner

By: Creamer Media Reporter      26th July 2022 Toronto-listed miner GCM Mining and Aris Gold on Monday announced that they would join forces in a merger deal, which would see GCM acquire all the outstanding Aris Gold shares not already owned. The merged entity would be “top-of-the-class” among junior producers and the biggest gold company in... 

Kumba Iron Ore excited by President’s energy plan, working earnestly on carbon reduction 

By: Martin Creamer     26th July 2022 Kumba Iron Ore CEO Mpumi Zikalala on Tuesday expressed excitement at the energy announcement of President Cyril Ramaphosa, who unveiled several far-reaching interventions, including a doubling in the allocation for the next renewables procurement round, an uncapping of the 100 MW... 

Kumba marketing and seaborne logistics executive head Timo Smit.
Kumba marketing and seaborne logistics executive head Timo Smit.

Origin works to maintain its stake in UK's Octopus

By: Esmarie Iannucci     26th July 2022 Energy producer Origin Energy will invest an additional £94-million in UK technology and energy company Octopus Energy Group to maintain its 20% equity interest. Since Origin’s last investment in September 2021, Octopus has made significant progress across its retail, renewable energy, and... 

Jupiter Mines gets new leadership

By: Esmarie Iannucci     26th July 2022 Manganese miner Jupiter Mines has appointed Brad Rogers as MD and CEO, effective from August 1, replacing non-executive director Scott Winter, who has been acting CEO since November last year. Rogers will join Jupiter from mining logistics company Bis Industries (Bis), where he has been MD and... 

Galena to raise A$17m

By: Esmarie Iannucci     26th July 2022 Base metals developer Galena Mining has raised A$17-million in a share placement, which was significantly oversubscribed. The company on Tuesday announced that it has accepted binding commitments for the placement of 136-million shares, at a price of 12.5c each. 

Havilah and Oz Minerals advance Kalkaroo deal

By: Esmarie Iannucci     26th July 2022 ASX-listed Havilah Resources has executed definitive transaction documents with fellow listed copper/gold miner Oz Minerals and its exploration arm Oz Exploration over the Kalkaroo copper project, in South Australia. Under the agreement, Oz Minerals will have 18 months to evaluate the potential... 

Edikan misses the mark for Perseus

By: Esmarie Iannucci     26th July 2022 ASX- and TSX-listed gold miner Perseus Mining has hit the upper end of its production target for the 2022 financial year ended June, with all-in sustaining costs (AISC) falling within the bottom quartile of market guidance. Perseus on Tuesday reported that gold poured during the June quarter... 

Thiess strikes a deal with MACA

By: Esmarie Iannucci     26th July 2022 ASX-listed mining services provider Thiess has made an all-cash takeover offer for fellow listed MACA. Under a recommended takeover offer, Thiess is offering Maca shareholders A$1.025 a share in cash, representing a 42.4% premium to MACA’s one-month volume weighted average share price. 

Image shows a handshake

BHP starts erecting solar panels in WA

By: Esmarie Iannucci     26th July 2022 The first solar panels at mining major BHP’s Leinster nickel operations, in the Northern Goldfields, are being installed. The Northern Goldfields solar project, to be constructed and owned by one of BHP Nickel West’s renewable energy partners TransAlta, includes a 27.4 MW solar farm at Mt Keith... 

Gov introduces climate Bill to Parliament

By: Esmarie Iannucci     26th July 2022 The federal government will introduce the Climate Change Bill 2022 into Parliament to enshrine the nation’s commitment to reduce greenhouse gas emissions by 43% below 2005 levels by 2030, and net zero by 2050, into law. Climate Change and Energy Minister Chris Bowen said that legislating... 

Wesizwe CEO steps down

By: Creamer Media Reporter      25th July 2022 Wang Hongile has stepped down as CEO of Wesizwe Platinum owing to ill health. Wesizwe has appointed deputy CEO Zhimin Li as interim CEO. 

Ramaphosa doubles next renewables round, scraps 100 MW cap on distributed plant and moots feed-in tariff as he unveils load-shedding crisis response 

By: Terence Creamer     25th July 2022 President Cyril Ramaphosa unveiled several far-reaching interventions – including a doubling in the allocation for the next renewables procurement round, the scrapping of the 100 MW licence-exemption threshold for distributed generators and a proposal of a feed-in tariff for self-generating... 

President Cyril Ramaphosa
President Cyril Ramaphosa

MMG suspends copper output guidance after Las Bambas protests in Peru

By: Reuters     25th July 2022 Chinese miner MMG on Monday said it had suspended its copper production targets for the year following a 60% output drop due to a long protest at its Las Bambas mine in the Peruvian Andes, which significantly disrupted operations. MMG had previously expected to produce 300 000 t to 320 000 t of... 

MMG suspends copper output guidance after Las Bambas protests in Peru

Newmont warns of project cost increases in Australia, Ghana

By: Mariaan Webb     25th July 2022 Global bullion major Newmont has flagged delays and cost increases at its expansion projects in Australia and Africa, citing current market conditions for labour and materials, as well as delayed land access in Ghana. The $395-million Tanami Expansion 2 project, in Australia’s Northern... 

Newmont warns of project cost increases in Australia, Ghana

Implats to acquire further RBPlat shares

By: Tasneem Bulbulia     25th July 2022 JSE-listed Impala Platinum (Implats) has concluded an agreement to acquire a further 300 000 Royal Bafokeng Platinum (RBPlat) shares, constituting about 0.10% of RBPlat’s shares in issue. The effective date of the acquisitions will be on or around July 25. 

Natref supply partially restored, Sasol’s full-year production decreases

By: Donna Slater     25th July 2022 Chemicals and petrochemicals producer Sasol reports that crude oil supply has been partially restored from its majority-owned Sasolburg-based Natref refinery, after the company declared a force majeure on the supply of petroleum products to its commercial customers on July 15. Natref, impacted... 

Newmont warns inflation to spike costs in 2023

By: Reuters     25th July 2022 Newmont on Monday raised its annual cost forecast and warned that inflationary pressures would persist into 2023 after its second-quarter profit missed Street estimates, sending the world's biggest gold miner's shares down 12%. Higher operating costs related to labor, energy and supplies have... 

Decarbonisation, renewables can create new economic sectors in SA – Anglo Platinum 

By: Martin Creamer     25th July 2022 JOHANNESBURG (miningweekly.com) – Anglo American Platinum CEO Natascha Viljoen on Monday expressed the firm belief that decarbonisation and renewable energy have the potential to create new economic sectors in South Africa. On the renewable energy front, Viljoen also revealed that Anglo Platinum... 

Anglo American Platinum CEO Natascha Viljoen
Anglo American Platinum CEO Natascha Viljoen
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