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Platinum-enabled green molecules offering inviting green electron value-add – Nedbank  

By: Martin Creamer     20th May 2024 It’s no longer good enough to just produce electric vehicles (EVs). You have to produce green EVs, and to do that, you need green steel. To get the green steel, you need the green molecules that green hydrogen provides. 

Nedbank CIB's Mike Peo interviewed by Mining Weekly's Martin Creamer. Video: Shadwyn Dickinson.

Implats concludes a new empowerment transaction at Impala Rustenburg, Impala Bafokeng

By: Tasneem Bulbulia     20th May 2024 JSE-listed Impala Platinum (Implats) has concluded a series of agreements, facilitating the implementation of a broad-based black economic empowerment (BBBEE) transaction at its Impala Rustenburg and Impala Bafokeng assets. The transaction will result in 13% BBBEE ownership at both Impala... 

An image showing Implats' Rustenburg operation
Implats has concluded a series of agreements, facilitating the implementation of a B-BBEE transaction at its Impala Rustenburg and Impala Bafokeng assets

Eskom board approves plan to operate Camden, Grootvlei and Hendrina to 2030 

By: Terence Creamer     Updated 6 hours ago The Eskom board has given its approval for the continued operation of the Camden, Grootvlei and Hendrina power stations to 2030 – a departure from the original decommissioning schedule that has reportedly been endorsed by Cabinet. In response to a question posed by Engineering News during an... 

Eskom head of generation Bheki Nxumalo
Photo by Creamer Media Chief Photographer Donna Slater
Eskom head of generation Bheki Nxumalo

BHP debates improved bid as time runs out in Anglo takeover saga

By: Bloomberg     19th May 2024 With time running out on its $43-billion pursuit of Anglo American, BHP Group faces a critical question: what would it take to draw the smaller company to the negotiating table within the next few days? BHP’s plan to partially break up and then acquire Anglo has transfixed the mining industry by... 

BHP CEO Mike Henry
Photo by Bloomberg
BHP CEO Mike Henry

European Ferrochrome Benchmark price to be discontinued

By: Darren Parker     20th May 2024 JSE-listed chrome producer Merafe Resources has advised that the quarterly European Ferrochrome Benchmark (EUBM) price will be discontinued with effect from June. The company will, therefore, no longer publish the EUBM price on the JSE news service. 

Strandline to sell Tanzania mineral sands asset

By: Mariaan Webb     20th May 2024 Australia’s Strandline Resources has agreed to sell its Tanzania mineral sands assets to a subsidiary of rare earths and mineral sands miner Shenghe Resources. Strandline will receive a total of $43-million, comprising A$27.2-million for the sale of Strandline’s shares in the Tanzania projects... 

Kefi announces launch of Tulu Kapi project

By: Darren Parker     Updated 4 hours ago Aim-listed gold and copper exploration and development company Kefi has announced that the Tulu Kapi Gold Mines (TKGM) board has formally launched the project. "Our launch timing is fortuitously coinciding with the improved conditions in Ethiopia and all-time high gold prices. Tulu Kapi's high... 

Zimbabwe lithium miners table refinery plans under govt pressure

By: Reuters     Updated 5 hours ago Four lithium mining companies have tabled plans to produce battery-grade lithium in Zimbabwe, a government official said on Monday. Zimbabwe, Africa's top producer of lithium, which is used in electric vehicle batteries and to store renewable energy, is prodding miners to refine the mineral... 

Employees on site at a lithium mine in Zimbabwe

Gold hits fresh record as Fed rate-cut optimism fuels demand

By: Bloomberg     20th May 2024 Gold notched a fresh all-time high, as investor demand soared across the broader metals complex amid increasing optimism the US will cut rates this year. Bullion jumped as much as 1.1% to hit $2 440.59 an ounce in early Asian hours, surpassing a previous intraday record reached in April. Traders... 

Gold hits fresh record as Fed rate-cut optimism fuels demand

Copper hits record above $11 000 on bets that shortage looms

By: Bloomberg     20th May 2024 Copper surged to its highest-ever level, extending a powerful, months-long rally driven by financial investors who’ve piled into the market in anticipation of deepening supply shortages. Futures on the London Metal Exchange jumped more than 4% in early Monday trading, taking copper past $11 000... 

Copper hits record above $11 000 on bets that shortage looms

Montage Gold proposes new directors

By: Creamer Media Reporter      20th May 2024 Canada-listed Montage, which is aiming to be a multi-asset African gold producer, has set June 7 as the date for its annual general and special meeting. Shareholders will vote on a proposed slate of director nominees, comprising six individuals: Ron Hochstein, Richard Clark, Anu Dhir, David... 

US lukewarm on G7 Russian diamond ban after industry backlash

By: Reuters     19th May 2024  The United States is re-evaluating the strictest elements of a ban on Russian diamonds from the Group of Seven major democracies, after opposition from African countries, Indian gem polishers and New York jewellers, seven sources said. The sanctions package, agreed in December and including a... 

Rough diamonds produced by Alrosa in Russia

Galan raises A$14m for ongoing HMW development

By: Creamer Media Reporter      Updated 5 hours ago ASX-listed Galan Lithium has received commitments for an equity raising of A$14-million at A$0.24 a share. The capital raise will provide working capital headroom and financial flexibility for the ongoing development of the Hobre Muerto West (HMW) Phase 1 construction, while alternative funding... 

Copper's record run at risk as US shipments calm speculator frenzy

By: Reuters     Updated 5 hours ago Copper's lightning rally to record highs may not be sustainable in the coming weeks, with action concentrated on the shipment of material to cover exposed short positions in the US Comex futures market rather than tepid demand in top consumer China. Prices on the CME Group's Comex hit a record... 

Australia gas producers endorse govt strategy, warn of shortages this decade

By: Reuters     Updated 6 hours ago Australia's energy producers endorsed a government strategy to boost natural gas development, but warned the country still faces new gas supply shortfalls this decade while markets remain volatile due to global conflicts. Meg O'Neill, chair of the Australian Energy Producers, said the group... 

Rock Teck’s Germany lithium refinery plans approved

By: Creamer Media Reporter      20th May 2024 TSX-V-listed Rock Tech Lithium has announced government approval for its planned lithium refinery in Guben, Germany. The Brandenburg State Office for the Environment on Friday issued the final approval for the refinery, paving the way for 24 000 t/y of battery-grade lithium hydroxide production. 

Hemlo Explorers to list on CSE

By: Creamer Media Reporter      20th May 2024 Minerals exploration company Hemlo Explorers has applied to delist from the TSX-V and to list its shares on the Canadian Securities Exchange (CSE). Upon delisting on the TSX-V, Hemlo will list 50 724 920 shares on the CSE. Trading is expected to start on May 23. 

$80m raised for Empire copper/gold project in Idaho

By: Creamer Media Reporter      20th May 2024 US-focused Phoenix Copper has successfully raised $80-million in a corporate bond issue to fund the construction of the Empire openpit mine, in Idaho. The bonds will be drawn down in tranches, with the first scheduled drawdown of $5-million set for May 31. 

Salares Norte project section temporarily put on hold to ensure chinchilla protection

By: Darren Parker     20th May 2024 NYSE- and JSE-listed Gold Fields has announced that its Salares Norte project, in Chile, has received an urgent and transitionary measure (MUT) from Chile’s Superintendence of Environment (SMA). The MUT orders the immediate suspension of dismantling Rocky Area No 3, located at the North waste... 

A chinchilla
A chinchilla

DoD dollars to help drive domestic manganese production at South32's Hermosa

By: Mariaan Webb     20th May 2024 The US Department of Defense (DoD) has awarded diversified miner South32’s Hermosa project, in Arizona, $20-million to support domestic manganese production. The money will be matched with a $43-million investment by Australia-headquartered South32 to fund activities to support access to the... 

Hermosa stands out as the sole advanced mining project in the US capable of producing two federally designated critical minerals – zinc and manganese.
Hermosa stands out as the sole advanced mining project in the US capable of producing two federally designated critical minerals – zinc and manganese.

China's iron-ore supply to rise by up to 10Mt in 2024, steel association says

By: Reuters     20th May 2024 China's domestic iron-ore concentrate output in 2024 will rise between 5-million and 10-million metric tons from the year before, its State-backed steel association said on Friday. "The key domestic iron-ore projects have made noticeable progress thanks to efforts from various parties," the... 

China's iron-ore supply to rise by up to 10Mt in 2024, steel association says

Lithium miners shake up trading to tackle wild price swings

By: Bloomberg     20th May 2024 The world’s lithium miners — facing an unprecedented demand surge and wild price swings — are shaking up the way the commodity is bought and sold. As lithium emerges as a linchpin of the global energy transition, the industry is in the grip of a slow-motion revolution that earlier upended... 

Lithium miners shake up trading to tackle wild price swings

With financing secured, Alpha HPA greenlights Stage 2 project

By: Mariaan Webb     20th May 2024 Australian critical minerals company Alpha HPA on Monday announced a final investment decision for the second stage of its high-purity alumina (HPA) refinery in Gladstone, Queensland, on the back of a positive definitive feasibility study (DFS) and securing A$520-million for the development. The... 

With financing secured, Alpha HPA greenlights Stage 2 project

Paul Brown named new Core Lithium CEO

By: Mariaan Webb     20th May 2024 Following a domestic and global search process, Australian hard-rock lithium miner Core Lithium has appointed Paul Brown CEO with effect from June 4. Brown’s appointment comes after Gareth Manderson exited Core in mid-March amid a strategic review. 

Paul Brown named new Core Lithium CEO

AIC probing ‘high potential incident’ at Eloise

By: Creamer Media Reporter      20th May 2024 Copper miner AIC Mines has suspended operations at its Eloise mine, in north-west Queensland, following a “high potential incident” over the weekend. The incident involved an underground loader straying off course while preparing a stope area for backfilling, resulting in a loss of control and... 

Minerals Council, Geoscience, IDC going all out to boost South African exploration  

By: Martin Creamer     17th May 2024 A collective effort was apparent on Friday when Minerals Council South Africa, the Council for Geoscience and the Industrial Development Corporation (IDC) spoke on the same platform to promote a return to growth in the shrinking South African mining industry. Minerals Council South Africa CEO... 

South African public-private sector exploration webinar covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

ESG key as investors back gold ETPs, metals funds – Tabula

By: Sabrina Jardim     17th May 2024 Gold exchange-traded products (ETPs) and metals funds are expected to benefit the most from positive flows into the commodities sector this year, with an environmental, social and governance (ESG) focus crucial to maximising inflows, research from European exchange-traded fund provider Tabula... 

Glencore expands adherence to standards, reporting frameworks to ensure sustainability

By: Marleny Arnoldi     17th May 2024 Global diversified miner Glencore’s emissions and energy use increased in 2023, but the group continues to make strides in managing its operations sustainably and according to ever-evolving standards. Glencore’s total energy use last year was 202 PJ, compared with 194 PJ in 2022. Renewable... 

Glencore's head office
Photo by Bloomberg
Glencore's head office

Hummingbird says Corica restarts operations at Kouroussa

By: Sabrina Jardim     17th May 2024 Aim-listed Hummingbird Resources has reported the remobilisation of mining services provider Corica Mining Services at the Kouroussa gold mine, in Guinea. Corica in March suspended work at the mine following a dispute with Hummingbird about certain payments, which it believed it was due. 

China's April coal output falls to lowest level since Oct 2022

By: Reuters     17th May 2024 China's coal production in April fell to its lowest level since October 2022, statistics bureau data and Reuters records showed on Friday, as continuing mine safety inspections curbed output. Output was 371.67-million metric tons last month, down 2.9% from a year earlier, according to the... 

Petra weathers lower diamond prices in latest tender

By: Tasneem Bulbulia     17th May 2024 Independent diamond miner Petra Diamonds’ sixth tender cycle for the 2024 financial year yielded $44-million from the sale of 371 000 ct.   CEO Richard Duffy says like-for-like prices were marginally down through this seasonally quiet period, being 2.6% lower than for Tender 5, with demand... 

An image of Petra CEO Richard Duffy
CEO Richard Duffy

BHP needs to bid about £32 a share for Anglo, JPMorgan says

By: Reuters     17th May 2024 HP Group would need to boost its latest offer around 30% to reflect fair value for Anglo American and its key copper assets, JPMorgan analysts said in a note. They raised their price target for London-listed Anglo to £27.75 a share after reexamining the value of its copper assets, and said the... 

BHP needs to bid about £32 a share for Anglo, JPMorgan says

China’s top copper miner to ramp up output as supply risks mount

By: Bloomberg     17th May 2024 China’s leading copper miner raised its output guidance at a time when prices have been rallying toward a record on expected deficits. Zijin Mining Group aims to boost mined copper production to 1.22-million tons in 2025, up 4% from a previous target, according to a filing to the Shanghai Stock... 

China’s top copper miner to ramp up output as supply risks mount

Arizona Metals appoints new CEO and chair

By: Creamer Media Reporter      17th May 2024 Explorer Arizona Metals has made key changes in its leadership team to steer the company in its next phase of growth with the development of the Kay Mine deposit. To facilitate the progression of Arizona, Duncan Middlemiss has appointed as president and CEO, succeeding Marc Pais, while Jacques... 

Greater man/machine collaboration needed as AI, automation evolve – Cawood

By: Darren Parker     17th May 2024 In the new world of digitised and automated mining that is headed towards increased dependence on AI to solve problems and facilitate complex processes, University of the Witwatersrand (Wits) School of Mining Engineering Professor Fred Cawood has warned against an overreliance on such... 

Wits School of Mining Engineering Professor Fred Cawood
Photo by Creamer Media
Wits School of Mining Engineering Professor Fred Cawood

Green Energy, Manganese Metal Co, Anglo American make headlines   

17th May 2024 Mining Weekly Editor Martin Creamer unpacks Nedbank's belief that Green Energy is a reindustrialisation opportunity for South Africa; Manganese Metal Co's first-mover advance to enter the manganese battery metal market; and Anglo American’s proposed demerging of Anglo Platinum and De Beers, which... 

Green Energy, Manganese Metal Co, Anglo American make headlines (Camera: Shadwyn Dickison; Editing: Nicholas Boyd)

Trafigura says aluminium rally is ‘over done’ as supply returns

By: Bloomberg     17th May 2024 Aluminum prices should decline by at least 6% over the next six months as supply returns to the market and high interest rates continue to crimp manufacturing demand, according to an analyst from Trafigura Group, one of the biggest traders of the metal. “We’re looking at a very grim demand... 

Trafigura says aluminium rally is ‘over done’ as supply returns

Hot commodity silver sets pace as demand and deficit drive rally

By: Reuters     17th May 2024 Gold’s record-setting rally may have captured the headlines this year, but it’s silver that’s running harder and faster as the less glamorous metal benefits from robust financial and industrial demand. Silver has soared by almost a quarter in 2024, outpacing gold and making it one of the year’s... 

Hot commodity silver sets pace as demand and deficit drive rally

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Platinum-enabled green molecules offering inviting green electron value-add – Nedbank

Minerals Council, Geoscience, IDC going all out to boost South African exploration

On-The-Air (17/05/2024)

Green Energy, Manganese Metal Co, Anglo American make headlines

Magazine round up | 17 May 2024

PGM-boosted green hydrogen backed by resolute South African govt's commitment

State mining training authority backing green hydrogen skills centre creation

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