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BHP’s top Australian investor eyes restraint in battle for Anglo
By: Bloomberg 15th May 2024 Pension giant AustralianSuper, BHP Group’s largest Australian shareholder, said capital discipline was of “utmost importance” for the mining industry as investors weigh the heavyweight’s twice-rebuffed efforts to woo smaller rival Anglo American. Luke Smith, the senior portfolio manager who... →
BHP shareholders see room for one more sweetened Anglo bid
By: Bloomberg Updated 4 hours ago Shareholders in BHP Group and takeover target Anglo American expect the world’s largest miner to come back with a third and improved proposal before a regulatory deadline next week, even after the smaller company laid out a bold restructuring plan of its own on Tuesday. Anglo has twice rejected... →
Santos to sack 200 employees as project approvals slow
By: Reuters Updated 6 hours ago Santos, Australia's No. 2 independent gas producer, on Wednesday said it will remove around 200 roles in Western Australia, Northern Territory, and Timor-Leste unit due to sluggish project approvals and delayed growth activities. Santos conducted a review of certain business units over the... →
MRC in talks to take full control of WA graphite project
By: Mariaan Webb Updated 7 hours ago Graphite-focused Mineral Commodities (MRC) is in negotiations with its joint venture (JV) partner in the Munglinup project, on Western Australia’s Fitzgerald coast, to settle a dispute regarding its right to increase its interest in the project. The company currently holds a 51% interest... →
Patriot and Albemarle’s downstream lithium collaboration ends
By: Mariaan Webb Updated 5 hours ago Lithium exploration company Patriot Battery Metals will no longer pursue a downstream lithium processing partnership with shareholder Albemarle, it was announced on Wednesday. Patriot, which owns the Corvette property in Canada, said that a nine-month term of a memorandum of understanding (MoU)... →
Lucapa puts Lesotho diamond mine up for sale
By: Mariaan Webb 15th May 2024 Australia-listed Lucapa Diamonds on Wednesday announced the planned divestment of its 70% interest in the Mothae mine, in Lesotho. This follows a review of the asset portfolio by the company’s newly structured board of directors. →
Elementos restarts Spanish tin DFS with modified layout
By: Mariaan Webb Updated 7 hours ago The definitive feasibility study (DFS) and licensing activities for the Oropesa tin project will resume, following an agreement between Elementos and the Andalusian government on project layout modifications to address community and environmental concerns. The negotiations with government have... →
Sun Silver gleams on ASX debut with Nevada project
By: Creamer Media Reporter Updated 6 minutes ago Nevada-focused Sun Silver on Wednesday listed on the ASX, following an oversubscribed A$13-million initial public offering (IPO). The company’s stock more than doubled on its first day trading on the bourse, closing at A$0.43 a share. “The very high level of investor demand saw us close the IPO... →
Aurora charts development pathway for US uranium project
By: Mariaan Webb 15th May 2024 ASX-listed Aurora Energy Metals has delivered a scoping study that demonstrates a viable pathway to developing its namesake uranium project in the US state of Oregon. Using a spot price base case of $90/lb, the Aurora project demonstrates strong cash flows of A$502-million, a net present value... →
Gold Fields to earn into Killi’s West Tanami project
By: Creamer Media Reporter Updated 6 hours ago Exploration junior Killi Resources has announced an option and joint venture (JV) agreement with global miner Gold Fields, which has agreed to spend up to A$13-million for an 85% interest in the West Tanami project, in Western Australia. Killi CEO Kathryn Cutler said that the partnership with... →
Anglo-BHP battle is between two CEOs fighting over same vision
By: Bloomberg 15th May 2024 As Anglo American sets out a survival plan that echoes the vision of its suitor BHP Group, the rival mining bosses are now locked in a battle to convince shareholders they are the man for the job. Anglo CEO Duncan Wanblad and his BHP counterpart Mike Henry took center stage on Tuesday, as the... →
Atlantic appoints versed Ghanaian lawyer, corporate banker to its board
By: Marleny Arnoldi Updated 7 hours ago Aim-, ASX- and Ghana Stock Exchange-listed Atlantic Lithium has appointed Edward Koranteng as nonexecutive director to the board effective immediately. As a lawyer and experienced corporate investment banker with experience in Ghana, he can support the company’s objectives of delivering the... →
Lotus bolsters its management team
By: Tasneem Bulbulia Updated 1 hour 2 minutes ago ASX-listed Lotus Resources has appointed four experienced resource executives to provide the company with additional experience in project development, operations, technical and corporate development, including project financing. Michael da Costa will join Lotus as COO at the end of May. →
Mantashe engages with stakeholders over Lily, Barbrook mines’ reopening
By: Tasneem Bulbulia Updated 45 minutes ago Mineral Resources and Energy Minister Gwede Mantashe on May 15 held a stakeholder engagement session that deliberated on the plans to reopen the Lily and Barbrook gold mines in Mpumalanga. Attended by stakeholders representing Vantage Goldfields, the Lomshiyo Traditional Council, the business... →
Half of mining industry still resisting AI integration
By: Darren Parker Updated 46 minutes ago At least half of heavy machinery users within the global mining industry still rely primarily on manual supply chain management tools, with 40% still using manual tools for operational planning, Wits Mining Institute's Professor Glen Nwaila has said. “So even if the automation is partially... →
State mining training authority backing green hydrogen skills centre creation 
By: Martin Creamer Updated 2 hours 53 minutes ago “We’re very excited to announce that we’ll be establishing the first centre of specialisation of green hydrogen skills,” South Africa’s Chemical Industries Education and Training Authority (CHIETA) CEO, Yershen Pillay, made public this week. CHIETA is working on this with South Africa’s mining... →
Alamos intersects new style of mineralisation at Young-Davidson
By: Creamer Media Reporter Updated 5 hours ago Canadian gold miner Alamos has intersected a new style of higher grade gold mineralisation in zones within the hanging wall of its Young-Davidson mine. These zones, located between 10 m and up to 200 m south of existing infrastructure and mineral reserves and resources, highlight the upside... →
Codelco working to meet Q2 production goal, CEO says
By: Reuters Updated 5 hours ago Chilean mining giant Codelco is still working to meet its estimated output for the second quarter, CEO Ruben Alvarado told Reuters, as the State-run copper miner is pushing to boost production up from its lowest in 25 years. Alvarado said that a recent rise in copper prices is a positive sign,... →
Indigenous group to take fight against Arizona copper mine to Supreme Court
By: Reuters Updated 5 hours ago A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the US Supreme Court, after a federal appeals court refused to reconsider whether the US government may have improperly transferred land to the developer. The group said they would... →
Execution risk to Anglo’s restructure plan substantial – WoodMac
By: Darren Parker Updated 6 hours ago Mining major Anglo American has accelerated its portfolio planning in the wake of rejecting fellow mining major BHP’s second bid proposal of $42.2-billion (£34-billion), or £27.70 a share, in a move that new research by consulting firm Wood Mackenzie (WoodMac) shows will take it from being the... →
US blames China’s CMOC for predatory tactics behind cobalt glut
By: Bloomberg Updated 7 hours ago China’s CMOC Group is being accused by a top US official of using “predatory” tactics to depress prices of a key battery metal by flooding the market with cobalt from Democratic Republic of Congo mines. “What we’re seeing now, I feel, is a variation of predatory pricing,” Jose Fernandez, Under... →
Brazil states ask court to double what Vale, BHP should pay for dam burst
By: Reuters Updated 7 hours ago Two Brazilian states have asked a court to more than double the amount that miners Vale and BHP, plus a jointly owned tie-up, must pay in damages for a 2015 deadly tailings dam failure, according to a legal document seen by Reuters on Tuesday. In January, a Brazilian federal judge ruled that... →
The 2015 dam collapse aftermath
De Beers IPO considered amid break-up plans, sources say
By: Reuters 15th May 2024 Anglo American is exploring an initial public offering of its diamond business De Beers, two people familiar with the matter told Reuters on Tuesday, with one flagging London as the preferred venue. The potential listing was the default option, the second person said, although the process is at... →
Teck Resources sees $3bn/y Ebtida if copper stays around current levels
By: Reuters 15th May 2024 Teck Resources expects to generate annual earnings before interest, depreciation, tax and amortisation (Ebtida) of $3 billion if copper prices hit $5/lb, CEO Jonathan Price said on Tuesday. For Vancouver, Canada-based Teck, copper is the main driver of profitability after it sold its... →
US tariffs on minerals leave out markets that China dominates
By: Bloomberg 15th May 2024 President Joe Biden just unveiled sweeping tariffs on a range of Chinese imports, including more than two dozen industrial raw materials. But the administration is being careful to avoid the critical minerals where Beijing’s grip on global supply is greatest. The commodities that made the duties... →
Anglo ditching De Beers is hard blow for troubled diamond market
By: Bloomberg 15th May 2024 The diamond industry has already been feeling the heat. Prices have slumped, Russian sanctions are threatening trade and the emergence of lab-grown gems is eating into some key traditional markets. Now, the sector’s most dominant name is being cast adrift. Anglo American on Tuesday said it will... →
Mining production, sales drop in March
By: Tasneem Bulbulia 14th May 2024 Mining production decreased by 5.8% year-on-year in March, Statistics South (Stats SA) reports. The largest negative contributors were coal (-9.1% and contributing -2.3 percentage points); manganese ore (-12.2% and contributing -1 percentage point); iron-ore (-6.8% and contributing -0.9 of a... →
Pensana records encouraging testwork results from samples at Angola project
By: Tasneem Bulbulia 14th May 2024 London-listed Pensana Rare Earths says initial results from beneficiation testwork on samples from the Sulima West deposit at the Coola exploration licence, located 75 km north of Longonjo, in Angola, are “very encouraging”. The testwork is being undertaken to determine whether the mineralogy at... →
Mantashe warms to Anglo plan after opposing BHP bid
By: Bloomberg 14th May 2024 South Africa’s mines minister struck a conciliatory tone as Anglo American Plc announced plans to separate its platinum unit as part of a major shakeup following its rejection of two approaches from BHP Group. “It is their strategy and they must do anything that will optimize value,” Mines... →
All-round value unlock targeted in proposed demerging of Anglo Platinum and De Beers
By: Martin Creamer 14th May 2024 Diversified mining major Anglo American is targeting value elevation in its planned demerging of South Africa-based Anglo American Platinum (Amplats) and the envisaged divestment or demerger of Southern Africa-dominant De Beers. In rejecting BHP’s second takeover offer, Anglo intends reshaping... →
Itochu, $5.9bn South Africa ammonia plant near supply pact
By: Bloomberg 14th May 2024 A group led by Japanese trading house Itochu Corp. is nearing an agreement to buy green ammonia from Hive Hydrogen South Africa, a $5.9 billion project that could make the country a global leader in producing the fuel. Hive Hydrogen may start output of green ammonia — which could be utilized as a... →
Korea Zinc sees US opportunities as it targets big copper growth
By: Bloomberg 14th May 2024 The world’s largest zinc smelter is planning to significantly expand its copper output, taking advantage of growth opportunities in the US as it seeks to become a leading player in the global transition to renewable energy. Korea Zinc, which also processes nickel, is looking to increase its... →
Two dead, one missing after tremor damages Polish coal mine
By: Reuters 14th May 2024 Two miners were killed in southern Poland and one remained trapped underground after an overnight tremor caused a partial collapse in a section of the Myslowice-Wesola mine, the mine's owner said on Tuesday. The tremor occurred 870 m underground. →
Kinetiko thrilled with successful onshore gas-to-power demonstration in South Africa
By: Creamer Media Reporter 14th May 2024 ASX-listed Kinetiko Energy has successfully demonstrated that it can produce gas-to-power (GtP) from an onshore natural gas resource at its Amersfoort project, in Mpumalanga, South Africa. The company is focused on developing an energy transition solution for South Africa focused on... →
Australia to invest A$22.7bn in renewable energy, critical minerals
By: Reuters 14th May 2024 The Australian government on Tuesday announced a A$22.7-billion package to boost domestic manufacturing and renewable energy as the country seeks to reduce its reliance on foreign suppliers for key technologies. Details of the Future Made in Australia package announced in the government's annual... →
SolGold advances financing for Cascabel, secures $10m loan
By: Mariaan Webb 14th May 2024 LSE- and TSX-listed SolGold said on Tuesday that it was making significant strides in securing financing for its Cascabel project, in Ecuador, with capital providers expressing a keen interest in committing to a longer-term financing package. The company is in detailed discussions with capital... →
Resources Watch
14th May 2024 This week: Copper 360’s underground copper mine set to open three months ahead of schedule; South Deep wind power decision drawing closer, Q2 update likely on backfill problem and, Hydrogen’s ‘irreplaceable’ role highlighted by platinum-linked venture capital provider →
PGMs to face continued supply constraints, low prices – report
By: Darren Parker 14th May 2024 Precious metals consultancy Metals Focus’ new ‘Platinum Group Metals (PGM) Focus 2024’ report, which offers a comprehensive analysis of the PGM industry, indicates that the rest of the year will be defined by persistent supply constraints, coupled with robust demand, leading to another year of... →
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