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Tasneem Bulbulia

Tasneem Bulbulia

Tasneem Bulbulia is a Creamer Media Senior Contributing Editor Online for Engineering News and Mining Weekly.

Appian appoints UK politician as strategic adviser; forms partnership with SAFE

21st February 2024 Investment adviser Appian Capital has appointed Dominic Raab as senior strategic adviser on global affairs. In this newly created role, he will support Appian on geopolitical strategy and risk, building on his international experience gained in UK government. 

Perseus enters into co-investment cooperation agreement with Saudi company

21st February 2024 ASX- and TSX-listed Perseus Mining has entered into a cooperation agreement with Ajlan & Bros Mining & Metals Company (ABM), the mining division of Saudi Arabia-based investment conglomerate company, Ajlan Brothers. The binding agreement contemplates that Perseus and ABM will jointly investigate... 

Perseus enters into co-investment cooperation agreement with Saudi company
Photo by Bloomberg
Perseus CEO and chairperson Jeff Quartermaine

Sibanye incurs $2.58bn in impairments on lower metals prices

21st February 2024 Multinational mining and metals processing group Sibanye-Stillwater has incurred impairments of $2.58-billion, or about R47.45-billion, for the 2023 financial year, on the back of the deterioration in metals prices and certain operational factors. In a trading update ahead of the March 5... 

Sibanye incurs $2.58bn in impairments on lower metals prices
Sibanye CEO Neal Froneman

South Africa’s IDC begins due diligence work for Qala Shallows project funding

21st February 2024 South African development finance institution the Industrial Development Corporation (IDC) has begun work to complete its due diligence investigation as part of its proposed R300-million (about $15.8-million) debt facility to fund development capital for ASX-listed West Wits Mining’s Qala... 

South Africa’s IDC begins due diligence work for Qala Shallows project funding
West Wits chairperson Michael Quinert

Unions express dismay over mining sector retrenchments

20th February 2024 Trade unions the Association of Mineworkers and Construction Union (AMCU) and the National Union of Mineworkers (NUM) have expressed their dissatisfaction with the plans announced by various mining firms to restructure their businesses and potentially retrench hundreds or thousands of workers and... 

Unions express dismay over mining sector retrenchments
Sibanye-Stillwater Platinum recently finished a retrenchment exercise at its Rustenburg and Marikana operations

Kumba weathers headwinds but 490 jobs at risk as it reconfigures business

20th February 2024 Anglo American subsidiary Kumba Iron Ore delivered solid operational and financial results for the year ended December 31, 2023, despite macroeconomic challenges; however, about 490 jobs could be at risk owing to a proposed reconfiguration to mitigate the logistics challenge, CEO Mpumi Zikalala... 

Kumba weathers headwinds but 490 jobs at risk as it reconfigures business
CEO Mpumi Zikalala

UCT research aims to help stakeholders mitigate mine closure risks

19th February 2024 Research published in the International Journal of Mining by University of Cape Town (UCT) Future Water Institute academic Dr Megan Cole has indicated that 48 of South Africa’s 230 operating mines could close in the next ten years. The findings also showed that social risks were highest in the... 

Copper 360 raises about R100m in additional funding

19th February 2024 JSE-listed Copper 360, formerly Big Tree Copper, has raised additional funding of R99.8-million through the issue of shares for cash on certain terms and conditions, aligned to the company’s funding strategy of entering into various loan agreements to fund the Nama Copper acquisition and expanded... 

Copper 360 raises about R100m in additional funding
Photo by Creamer Media's Donna Slater
Copper 360 CFO Stephan du Plessis

Lucara signs new ten-year diamond sales agreement with HB Group

19th February 2024 Canadian mining company Lucara Diamond Corp has entered into a new diamond sales agreement (NDSA) with processer and trader HB Group out of Antwerp, Belgium, in respect of qualifying “special” diamonds – those weighing more than 10.8 ct – recovered from the Karowe mine, in Botswana. Under the... 

Lucara signs new ten-year diamond sales agreement with HB Group
Karowe mine

Vedanta starts provision of funding to KCM in Zambia

16th February 2024 Global natural resources company Vedanta Resources has started providing funding to Konkola Copper Mines (KCM), in Zambia, and has disbursed its first $25-million for employee salaries, contract labour and other critical services needed to maintain the integrity of the asset. Vedanta has deployed... 

Long stop date for Xtract’s disposal of Mozambique project extended

16th February 2024 Aim-listed Xtract Resources says the long stop date in relation to the disposal of its entire interests in the Manica gold project, in Mozambique, has been extended from February 15 to February 23 to allow for the completion of certain administrative matters. A further announcement will be made... 

First Quantum exercises option over two licences in Zambia

16th February 2024 Canada-based First Quantum Minerals (FQM) has exercised its option over the remaining two licences in the Central Africa Copperbelt from an object agreement with London-listed African Pioneer’s 80%-owned subsidiary African Pioneer Zambia. The option agreement was first announced on January 22. 

Geopolitical unrest to cause volatility for commodities – RMB

16th February 2024 With geopolitical instability persisting globally, especially in the form of conflict between Russia and Ukraine and in the Middle East, commodities are set for a volatile year, and the risk of this has not been priced in, RMB Resources Sector Solutions co-head Julian Grieve has warned. “There is... 

Geopolitical unrest to cause volatility for commodities – RMB
Gold prices are expected to remain firm on the back of safe-haven demand in the risky geopolitical environment

Updated MRE for Sylvania’s Volspruit project shows improved grades

16th February 2024 Aim-listed Sylvania Platinum has announced the completion of a mineral resource estimate (MRE) update for its Volspruit project, located on the Northern Limb of the Bushveld Complex in South Africa,  facilitated by South African geological company Earthlab Technical Division. CEO Jaco Prinsloo... 

Updated MRE for Sylvania’s Volspruit project shows improved grades
Sylvania Platinum CEO Jaco Prinsloo

Energy transition driving continued surge in metals, mining M&A activity

16th February 2024 The ongoing surge in mergers and acquisitions (M&A) activity in the metals and mining sector is expected to continue into this year, driven by the global energy transition, with industry players targeting critical minerals to align their portfolios with the requirements of the future, Fitch... 

Premier to raise £2.48m for its Zulu project

15th February 2024 Aim-listed Premier African Minerals intends to raise £2.48-million before expenses through a subscription to advance its Zulu lithium and tantalum project. “This placement assures Zulu of plant startup, subject only to suppliers meeting their obligations and undertakings. This has and remains... 

Sean Wade to be appointed Katoro chairperson subject to due diligence

15th February 2024 Aim-listed Katoro Gold has announced the proposed appointment of Sean Wade as nonexecutive chairperson of the company, conditional only on the satisfactory completion of stock market due diligence, which is a standard procedure prior to the appointment of directors onto the board of an Aim-listed... 

Shuka settles legacy dispute with Upendo Group over Tanzania licence

15th February 2024 Aim-listed Shuka Minerals, previously known as Edenville Energy, has signed a definitive settlement agreement with Upendo Group, which holds a historic residual 10% interest in the Rukwa coal mining licence, in Tanzania. The dispute with Upendo, regarding the interpretation of the “residual”... 

Shuka settles legacy dispute with Upendo Group over Tanzania licence
Stockpiles at the Rukwa mine

Urgent policy reforms the only way to save the mining sector, says Old Mutual Investment Group

15th February 2024 It is policy uncertainty that is deterring investors from investing in the country’s mining sector and structural reform is needed to allow the sector to regain competitiveness, Old Mutual Investment Group resources analyst Ian Woodley emphasises. He warns that South Africa lacks both a secure... 

Urgent policy reforms the only way to save the mining sector, says Old Mutual Investment Group
Photo by Creamer Media
Gwede Mantashe's announcement of a R400-million fund to support new mining exploration is not enough to resolve the underlying issues facing the mining sector, says Old Mutual

Philip Kotze steps down from Orion Minerals board

15th February 2024 JSE- and ASX-listed Orion Minerals has accepted the resignation of Philip Kotze from the board, with immediate effect. During the past several months, Orion has undertaken a review of its board’s growing responsibilities as the company transitions into a development stage at its copper and zinc... 

Philip Kotze steps down from Orion Minerals board
Prieska copper zinc mine

First Quantum in talks with utility to improve Zambia’s grid efficiency

14th February 2024 Stabilisation of the national power grid is a prerequisite to increasing Zambia’s copper production to three-million tonnes a year, says miner First Quantum Minerals (FQM). Ensuring that power was available ahead of increased mine production, and that this power was efficiently transmitted... 

First Quantum in talks with utility to improve Zambia’s grid efficiency
Zesco representatives recently visited one of FQM's mines

Pan African on track to deliver full-year guidance following strong interim period

14th February 2024 Gold miner Pan African Resources delivered an “excellent” safety, production and financial performance for the six months ended December 31, 2023, which positions the group well to deliver on its production and cost guidance for the full financial year, CEO Cobus Loots says. Its full-year 2024... 

Pan African on track to deliver full-year guidance following strong interim period
Pan African's Mogale project

SRK Consulting makes director, partner appointments in South African operations

14th February 2024 Global consultancy SRK Consulting has appointed partner and principal geologist (geotechnical) Robert Armstrong as a director in its South African consulting practice. Armstrong has been with the company since 2001, when he joined as a student geologist. 

SRK Consulting makes director, partner appointments in South African operations
SRK Consulting South African consulting practice director Robert Armstrong

Mixed bag for December mining production, sales

13th February 2024 Mining production increased by 0.6% year-on-year in December, driven by platinum group metals (PGMs) and coal, Statistics South Africa principal survey statistician Juan-Pierre Terblanche outlines. PGMs production increased by 9.4% and contributed 2.8 percentage points, while coal production... 

Mixed bag for December mining production, sales
Stats SA principal survey statistician Juan-Pierre Terblanche

Perpetua receives more government funding

12th February 2024 TSX-listed Perpetua Resources’ wholly owned subsidiary, Perpetua Resources Idaho, has been conditionally awarded up to $34.6-million in additional funding under the existing Technology Investment Agreement (TIA) through Title III of the Defence Production Act (DPA). Full funding of the additional... 

Arizona’s Prairie pilot plant in final phase, performing well

12th February 2024 The direct lithium extraction (DLE) pilot plant at the Prairie project in Saskatchewan, Canada has processed more than 200 000 ℓ of brine, and has produced “exceptional” results during operations over the past three months, ASX-listed Arizona Lithium reports. The pilot plant is now in the final... 

Hillgrove starts producing copper at Kanmantoo

12th February 2024 ASX-listed Hillgrove Resources has produced first concentrate from the Kanmantoo copper mine, in South Australia, following successful commissioning of the processing facility. Plant commissioning and production of copper was achieved within the targeted timeframe of the first quarter of 2024. 

Black Cat extends timing of $51m funding package

12th February 2024 ASX-listed Black Cat Syndicate has extended the timing of its remaining A$51-million funding package from February 28, to May 31. Subject to completion, the funding package will be used to restart the Paulsens gold operation in Pilbara. 

Katoro takes steps to reinvigorate the company

12th February 2024 Aim-listed Katoro Gold, which holds mining assets in Africa, has secured new financing and is implementing business and development changes, along with board changes, to reinvigorate the company. Financing was by way of a broker-led placing and subscription with new and existing shareholders to... 

Kore’s JSE share price rises on confirmation of receipt of EPC proposal, draft contract

9th February 2024 Triple-listed Kore Potash’s share price on the JSE surged by more than 30% on February 9 after it confirmed that PowerChina International Group had, on February 6, delivered its engineering, procurement and construction (EPC) proposal and draft EPC contract for Kore’s 97%-owned Kola project, in... 

RMB, Clairfield International ink partnership deal

9th February 2024 Europe-based global corporate finance partnership Clairfield International and FirstRand Bank division Rand Merchant Bank (RMB), have formally agreed to partner, marking both firms’ commitment to increasing their global footprint and the delivery of corporate finance advisory solutions for... 

Implats warns of more than 80% decrease in interim earnings

8th February 2024 JSE-listed Impala Platinum (Implats) expects to report an up to 83% year-on-year decrease in headline earnings for the six months to December 31, 2023, as a result of lower revenue arising from a 37% lower achieved dollar price per platinum, palladium, rhodium, ridium, ruthenium and gold (6E)... 

Gold mining industry striving to build on sustainability strides

8th February 2024 Striving for sustainability in every facet of the gold mining industry’s value chain is imperative and while considerable progress has been made in several areas, including responsible practices and reporting, as well as decarbonisation, there is still work to be done in other areas, such as... 

Gold mining industry striving to build on sustainability strides
World Gold Council climate change lead and market relations director John Mulligan

Anglo’s fourth-quarter production in line with expectations despite rail constraints

8th February 2024 Diversified miner Anglo American’s production for the fourth quarter ended December 31, 2023, was in line with expectations and in line with production in the third quarter, despite the deliberate slowdown at its South African iron-ore operations to help draw down stock levels in response to poor... 

Anglo’s fourth-quarter production in line with expectations despite rail constraints
Duncan Wanblad

Blencowe welcomes new African investor

6th February 2024 Aim-listed Blencowe Resources has raised $500 000 (£392 350) from a specialist Africa-based investor through the issue of 7.8-million new ordinary shares. The investor has undertaken extensive due diligence over the last four months and the current investment is viewed as an initial entry into... 

Kenmare receives commitments for new $200m credit facility

6th February 2024 London-listed Kenmare Resources, which operates the Moma titanium minerals mine in northern Mozambique, has received commitments in respect of a new $200-million revolving credit facility (RCF). “The new $200-million RCF supports our planned capital programmes in the coming years. It removes the... 

Kenmare receives commitments for new $200m credit facility
The Moma titanium minerals mine

Sable Mining, IPace agree additional funding for DMS beneficiation plant

6th February 2024 JSE-listed Sable Exploration and Mining’s subsidiary Sable Platinum Holdings (SPH) and IPace on February 2 entered into a term sheet for additional funding of R1-million payable by SPH for a dense medium separation (DMS) beneficiation plant. The follows SPH’s announcement in September that it had... 

West African’s 2024 production to align with long-term mining plan

6th February 2024 ASX-listed West African Resources expects its Sanbrado mine, in Burkina Faso, to produce between 190 000 oz and 210 000 oz of gold this year, consistent with the company’s long-term mining plan. Output will, however, be lower than the 226 823 oz of gold produced at Sanbrado in 2023, owing to... 

Pensana’s Longonjo MRE carbonate receives product quality approval

5th February 2024 One of London-listed Pensana’s major potential customers has approved the product qualification specifications for Longonjo’s proposed mixed rare earth carbonate (MREC) product. Longonjo, in Angola, is expected to produce 20 000 t of MREC starting in 2026 and 40 000 t of MREC from 2029 onwards... 

Pensana’s Longonjo MRE carbonate receives product quality approval
Longonjo mine

Rainbow achieves group separation of REEs during ongoing test work in the US

5th February 2024 London-listed Rainbow Rare Earths has made progress with the ongoing rare earth oxide separation work under way at the back-end pilot plant, which is located at the facilities of Rainbow’s technical partner K-Technologies (K-Tech) in Florida, in the US, with group separation of the rare earth... 

Rainbow achieves group separation of REEs during ongoing test work in the US
CEO George Bennett

Bushveld meets full-year guidance, but cash flow challenges persist

5th February 2024 Aim-listed Bushveld Minerals met its 2023 production guidance and was able to achieve a level of operational performance in the first half of the financial year, despite facing cash flow challenges, CEO Craig Coltman says in an operational update for the three and 12 months ending December 31.... 

Bushveld meets full-year guidance, but cash flow challenges persist
CEO Craig Coltman
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