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Discovery, development are mining’s only true value creation drivers, Barrick highlights  

By: Martin Creamer     Updated 1 hour 5 minutes ago Discovery and development are the only true drivers of value creation in the mining industry, Barrick president and CEO Dr Mark Bristow highlighted on Wednesday, when this standout gold and copper mining company once again declared a dividend in reporting its first quarter results that position... 

Barrick first-quarter results covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Barrick CEO 'can't see any reason' for in-person AGMs

By: Bloomberg     Updated 7 hours ago Barrick Gold's CEO says the gold miner will continue to host virtual-only annual general meetings despite calls for public companies to return to an in-person format. After Barrick hosted its latest virtual-only AGM on Tuesday, CEO Mark Bristow said he “can’t see any reason” to return to... 

Mark Bristow
Mark Bristow

Anglo’s copper assets worth $35bn, report shows

By: Mariaan Webb     Updated 6 hours ago Anglo American’s copper assets are valued at about $35-billion and, if BHP aims to clinch these prized operations, the miner must substantially enhance its offer for its competitor. This is according to a report by CreditSight analysts Wen Li and Michael O’Brien, who estimate Anglo’s enterprise... 

Anglo owns the Quellaveco mine in Peru
Anglo owns the Quellaveco mine in Peru

BHP woos South Africa in pursuit of $39bn Anglo takeover

By: Bloomberg     Updated 23 minutes ago BHP Group has deployed a team of senior executives to South Africa as the world’s largest miner ramps up efforts to win over government officials, regulators and local shareholders, all of whom could yet determine the outcome of its proposed tie-up with rival Anglo American. The executives have... 

South Africa's Mineral Resources and Energy Minister Gwede Mantashe
Photo by Creamer Media's Donna Slater
South Africa's Mineral Resources and Energy Minister Gwede Mantashe

Anglo to meet top shareholders on BHP bid as takeover rules restrain AGM

By: Reuters     Updated 7 hours ago Anglo American's chair will meet its top 30 shareholders to hear views on BHP's $39-billion bid for the miner, he told an annual general meeting on Tuesday, where he was restricted from discussing the spurned offer by takeover regulations. Anglo rejected the offer on Friday, saying it was... 

Stuart Chambers
Stuart Chambers

Opinion: The MPRDA and its impact on future mining investments in South Africa

Updated 1 hour 10 minutes ago In this article, Webber Wentzel partner Bruce Dickinson writes that the implications of the Mineral and Petroleum Resources Development Act (MPRDA) on investment dynamics in South Africa have come under scrutiny. 

Webber Wentzel partner Bruce Dickinson
Webber Wentzel partner Bruce Dickinson

Rick Menell joins Perseus board as nonexec director

By: Creamer Media Reporter      Updated 2 hours 2 minutes ago Mining veteran Rick Menell has joined the board of Africa-focused gold producer Perseus Mining as a nonexecutive, independent director. "I am extremely pleased to welcome Rick Menell to the board of our company. Rick is a very high calibre individual whose diverse work and life experiences will... 

Rick Menell
Photo by Sibanye-Stillwater
Rick Menell

Ironveld appoints Kristoffer Andersson CEO

By: Creamer Media Reporter      Updated 2 hours 17 minutes ago London-listed Ironveld, which owns a high-purity iron, vanadium and titanium project on the northern limb of the Bushveld Complex, in Limpopo, South Africa, has appointed Kristoffer Andersson CEO. He succeeds Martin Eales, who stepped down as CEO in February. 

A smelter owned and operated by Ironveld

Atlantic Lithium given the go-ahead to list on Ghana exchange

By: Creamer Media Reporter      Updated 2 hours 49 minutes ago Africa-focused lithium exploration and development company Atlantic Lithium has received approval from the Ghana Stock Exchange's (GSE's) listing committee and Ghana's Securities and Exchange Commission to list the company's ordinary shares on the main market of the GSE at a yet-to-be announced... 

Artist's impression of the planned Ewoyaa lithium project operation in Ghana

Predictive raises A$50m for Guinea gold project

By: Mariaan Webb     Updated 5 hours ago ASX-listed Predictive Discovery has announced a A$50-million raising to advance the Bankan gold project, in Guinea. The company will issue about 263.2-million new fully paid ordinary shares at A$0.19 each. 

Predictive raises A$50m for Guinea gold project

China's Zhaojin wins control of Australia's Tietto Minerals in $475m deal

By: Reuters     Updated 2 hours 55 minutes ago China's Zhaojin Capital has won control of Australia's Tietto Minerals after a protracted six months takeover tussle that values the gold producer at A$733-million ($474.62-million), according to a regulatory filing on Wednesday. Zhaojin Capital, a unit of Hong Kong-listed Zhaojin Mining 1818.HK,... 

Pan American to sell La Arena stake to Zijin

By: Creamer Media Reporter      Updated 14 minutes ago NYSE- and TSX-listed Pan American Silver on Wednesday announced the sale of its interest in LA Arena in Peru to a subsidiary of Zijin Mining for $245-million in cash and a $50-million contingent payment.  

Pan American to sell La Arena stake to Zijin

Stillwater Critical Minerals raised C$3.89m in oversubscribed placement

By: Creamer Media Reporter      Updated 23 minutes ago TSX-V-listed Stillwater Critical Minerals has successfully completed C$3.89-million in a nonbrokered placement, surpassing expectations with a 55% oversubscription. Commodities powerhouse Glencore spearheaded the placement, with a substantial $2.1-million order. 

Graphite miners lobby US govt to impose levy on China-sourced EV material

By: Reuters     Updated 57 minutes ago North American graphite miners are lobbying the US government to impose a 25% tariff on three graphite products sourced from China in order to counter Beijing's monopoly on a key material used in automobile batteries. If successful, the move will pit the miners against their main customers- the... 

Graphite miners lobby US govt to impose levy on China-sourced EV material

Brazil Potash aims to beat Russian, Canadian suppliers on price

By: Reuters     Updated 1 hour 4 minutes ago The cost to produce potash from a mine being developed in the Brazilian Amazon will be similar to Russia's and lower than in No. 1 producer Canada, said the CEO of Brazil Potash, citing a third-party assessment used in a company presentation. The economics of the project -- which faced a... 

Australia's second-largest pension fund blacklists thermal coal investments

By: Reuters     Updated 1 hour 8 minutes ago Australian pension giant Australian Retirement Trust said on Thursday it would stop investing in most thermal coal companies from July as part of a plan to hit net zero emissions across its portfolio by 2050. The A$280-billion fund has introduced new rules to exclude any company which generates... 

Australia's second-largest pension fund blacklists thermal coal investments

Canada's long-delayed Trans Mountain oil pipeline starts operations

By: Reuters     Updated 1 hour 12 minutes ago After 12 years and C$34-billion, Canada's Trans Mountain pipeline expansion project (TMX) began commercial operations on Wednesday, a major milestone expected to transform access to global markets for the country's producers. Pipeline constraints have forced Canadian oil producers to sell oil at... 

Barrick Gold beats estimates for quarterly profit

By: Reuters     Updated 1 hour 38 minutes ago Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has entered into an exploration partnership with Geophysx Jamaica. Prices of the precious metal rose about 8.2% to $2 231/oz in the January-March quarter, on buying from central... 

Barrick Gold beats estimates for quarterly profit

Barrick Gold is not interested in bidding for Anglo American, CEO says

By: Reuters     Updated 1 hour 47 minutes ago arrick Gold is not interested in bidding for Anglo American, which last week received a $39-billion takeover offer from BHP, and is building its own copper portfolio, the Canadian miner's CEO Mark Bristow said on Wednesday. If BHP's proposed acquisition of Anglo is successful, it would create... 

BHP is betting on developing the Reko Diq copper project in Pakistan
BHP is betting on developing the Reko Diq copper project in Pakistan

Barrick moves to tap into Jamaica’s mineral potential

By: Creamer Media Reporter      Updated 2 hours 12 minutes ago Gold and copper major Barrick is set to venture into Jamaica’s untapped minerals landscape through an earn-in agreement with private exploration company Geophysx. Geophysx has strategically amassed an extensive portfolio of exploration assets across Jamaica, which Barrick CEO Mark Bristow... 

Barrick moves to tap into Jamaica’s mineral potential

Metro raises A$40m to speed up debt repayments

By: Mariaan Webb     Updated 3 hours ago Metro Mining, the owner of the Bauxite Hills mine near Weipa, on Thursday announced a successful A$40-million placement that it would use to accelerate debt repayment. The company has received binding commitments from sophisticated, experienced and professional investors to issue 975.6-million... 

The recently commissioned Ikamba offshore floating terminal is a key part of the Bauxite Hiills expansion project.
The recently commissioned Ikamba offshore floating terminal is a key part of the Bauxite Hiills expansion project.

Resources Watch 

Updated 4 hours ago This week: New green hydrogen trading base uplifting platinum group metals demand outlook; Copper 360 ships concentrate, on course to pay first dividend next year and, Pilot Crushtec introduces Swedish brand of large-scale crushers to the Southern African market 

Resources Watch

Toro boosts uranium resources with Dawson Hinkler deposit expansion

By: Mariaan Webb     Updated 6 hours ago Uranium project developer Toro Energy has expanded the stated resources at the Dawson Hinkler deposit by reducing the resource cutoff grade from 200 parts per million (ppm) to 100 ppm uranium oxide. As a result, the Dawson Hinkler deposit’s stated resource increased by about 115% to 20.29-million... 

Toro boosts uranium resources with Dawson Hinkler deposit expansion

Macmahon secures $352m contact extension at Boston Shaker

By: Creamer Media Reporter      Updated 6 hours ago Mining services group Macmahon has been granted a three-year extension of its alliance-style contract with AngloGold Ashanti at the Boston Shaker underground mine, part of the Tropicana gold operation in Western Australia. Macmahon has been providing underground mining services at Boston Shaker... 

Rail workers in Canada vote to strike, threatening supply chains

By: Bloomberg     Updated 6 hours ago Rail workers demanding more rest time moved closer to a strike that would disrupt supply chains from Halifax to Vancouver and down through the Midwest to the Gulf of Mexico. A union representing more than 9 000 employees at Canadian National Railway and Canadian Pacific Kansas City said workers... 

Rail workers in Canada vote to strike, threatening supply chains

Senate passes Russian uranium import ban, sending Bill to Biden

By: Bloomberg     Updated 6 hours ago The Senate voted Tuesday evening to approve legislation banning the import of enriched uranium from Russia, sending the measure to the White House which has said it supports efforts to block the Kremlin’s shipments of the reactor fuel The Prohibiting Russian Uranium Imports Act, approved by... 

Australia cracks down on foreign investment in critical minerals

By: Bloomberg     Updated 7 hours ago Australia will tighten scrutiny of foreign investment into mining and refining of critical minerals as part of an overhaul of its national regime, while speeding up approvals in low-risk areas to boost economic growth. Treasurer Jim Chalmers announced the changes in a speech to the Lowy... 

Australian Treasurer Jim Chalmers
Australian Treasurer Jim Chalmers

Clean energy critical minerals can transform sub-Saharan Africa – IMF

By: Schalk Burger     30th April 2024 Sub-Saharan Africa holds an estimated 30% of the world’s volume of proven critical mineral reserves and managing their use properly as part of the global transition to clean energy has the potential to transform the region, the International Monetary Fund (IMF) states in its ‘Regional Economic... 

Booming Harmony ups full-year output and grades; lowers cost and capital guidance

By: Martin Creamer     30th April 2024 Execution and preparatory work on key gold projects are on track in South Africa, and early works on the copper project in Australia are to commence, Harmony Gold reported on Tuesday. In South Africa, the Moab Khotsong gold mine extension and the Mine Waste Solutions development are on track,... 

Harmony's Mponeng gold mine.
Harmony's Mponeng gold mine.

Fortescue consortium awarded rights to develop Oman green hydrogen project

By: Creamer Media Reporter      30th April 2024 A consortium between green energy and metals group Fortescue and sustainable infrastructure investor Actis has been awarded the rights to develop, build, own and operate a large green hydrogen project in Oman. At a signing ceremony in Muscat on Tuesday, Hydrogen Oman (Hydrom), an independent... 

FIRB approves Azure takeover by SQM and Hancock

By: Creamer Media Reporter      30th April 2024 The Foreign Investment Review Board (FIRB) has approved the acquisition of ASX-listed Azure by SH Mining – a bid vehicle jointly owned by Sociedad Quimica y Minera de Chile (SQM) and Hancock Prospecting. SH Mining will acquire Perth-based Azure for $3.70 a share. 

Anglo American takeover price needs to surpass £30 a share, survey shows

By: Bloomberg     30th April 2024 A takeover of Anglo American would need to be pitched at more than £30 ($37.6) a share, a higher price than BHP Group offered last week, according to analysts and traders surveyed by Bloomberg. Anglo American shares are trading above the value of BHP’s rebuffed $39-billion takeover proposal, a... 

Anglo American takeover price needs to surpass £30 a share, survey shows

Central banks, record first-quarter over-the-counter purchases support gold demand

By: Marleny Arnoldi     30th April 2024 Continued exchange-traded fund (ETF) outflows drove gold demand, excluding over-the-counter (OTC) purchases, down by 5% year-on-year in the first quarter of this year to 1 102 t. However, including sizeable OTC purchases by investors, total gold demand increased by 3% year-on-year to 1 238 t,... 

Gold nugget

Mosaic sells stake in Saudi JV for $1.5bn

By: Creamer Media Reporter      30th April 2024 US-based fertiliser company Mosaic on Tuesday announced the sale of its stake in a phosphate production venture to Saudi Arabia’s Ma’aden. Mosaic will receive 111.01-million shares of the Saudi Arabian mining company, valued at about $1.5-billion, for its 25% stake in the Ma’aden Wa’ad Al Shamal... 

Mosaic CEO Bruce Bodine
Mosaic CEO Bruce Bodine

Greenbushes to operate at full capacity for rest of the year

By: Mariaan Webb     30th April 2024 The Greenbushes lithium mine, in Western Australia, is set to produce at full capacity for the remainder of the calendar year, after the owners of the mine agreed a further spodumene concentrate supply deal. IGO reports that the Greenbushes holding company will sell SC6.0 spodumene concentrate... 

The Greenbushes lithium mine
The Greenbushes lithium mine

Resolute reports 'promising' start to 2024, despite lower first-quarter output

By: Creamer Media Reporter      30th April 2024 ASX- and LSE-listed Resolute Mining poured 76 351 oz of gold in the first quarter of this year, compared with the 80 037 oz poured in the fourth quarter of 2023. Despite the lower production, CEO and MD Terry Holohan says it has been a "promising" start to the year for the gold producer, with all... 

China lithium giant's founder hands reins to daughter after major loss

By: Bloomberg     30th April 2024 Jiang Weiping, the founder of major Chinese lithium producer Tianqi Lithium, resigned as chairman after the battery-material producer reported its biggest-ever quarterly loss of more than half a billion dollars. The man who led Tianqi for more than two decades stepped down on Monday “in order to... 

Jiang Weiping has resigned as chairperson of Tianqi Lithium
Jiang Weiping has resigned as chairperson of Tianqi Lithium

NBI launches pragmatic Just Energy Transition Skilling for Employment Programme

By: Marleny Arnoldi     30th April 2024 With skills having been identified as a key cross-cutting requirement for the Just Energy Transition Implementation Plan (JET-IP), the National Business Initiative (NBI), together with the Presidency’s JET project management unit (JET PMU) and Boston Consulting Group, have launched the JET... 

welding and cutting training

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Magazine round up | 26 April 2024

Pilot Crushtec introduces Swedish brand of large-scale crushers to the Southern African market

Copper 360 ships concentrate, on course to pay first dividend next year

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