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Diversified Miners News

Anglo achieves its best ever safety record, but reiterates commitment to zero harm

By: Darren Parker     22nd February 2024 Mining major Anglo American has achieved its lowest ever total recordable injury frequency rate of 1.78 in 2023, down from 2.19 in 2022, along with the company’s lowest ever monthly rate of 0.91 in December, CEO Duncan Wanblad revealed during the company’s 2023 financial year results presentation... 

Anglo to focus on cost cutting following disappointing 2023 performance  

By: Darren Parker     22nd February 2024 Mining major Anglo American chairperson Stuart Chambers and CEO Duncan Wanblad have both expressed disappointment with the company’s financial results for 2023, which were released on February 22. Chambers opened the presentation of the company’s results by candidly describing the company’s... 

anglo american sign and logo

Teck Resources Q4 profit beats targets on strong coal sales, copper output

By: Reuters     22nd February 2024 Canadian miner Teck Resources beat fourth-quarter profit estimates on Thursday, helped by an increase in steelmaking coal sales and record copper production. The company also benefited from higher copper prices due to supply shortages, which Teck said have accelerated into next quarter. Teck... 

Teck Resources Q4 profit beats targets on strong coal sales, copper output

Rio Tinto board approves Simandou investment

By: Mariaan Webb     22nd February 2024 The board of Rio Tinto has given the nod to the Simandou iron-ore project, in Guinea, CEO Jakob Stausholm has revealed. The approval is contingent on meeting outstanding conditions, including securing approvals from joint venture partners and obtaining regulatory nods from China and Guinea.  

Simandou’s high-grade, low impurity formation is a rare opportunity for Rio Tinto to diversify its portfolio, particularly as demand increased for grade suitable for greener steel.

Resources Watch  

21st February 2024 This week: South Africa looks to Japanese collaboration on green hydrogen development and, Power aggregators seen as key accelerators of South African mining’s energy transition 

Resources Watch
Resources Watch

Major hydrogen economy developments in SA  

21st February 2024 Mining Weekly Editor Martin Creamer discusses BMW's hydrogen-fuelled cars on South Africa’s roads; Heraeus and Sibanye-Stillwater’s PGMs partnership to boost the hydrogen economy; and South Africa's hopes to collaborate with Japan on green hydrogen development.   

Photo of Martin Creamer
Major hydrogen economy developments in SA

Glencore pleased with its performance against the backdrop of lower commodity, energy prices 

By: Marleny Arnoldi     21st February 2024 Global mining company Glencore has recommended a $0.13 a share, or $1.6-billion, base cash distribution to shareholders for the 2023 financial year, comprising $1-billion from marketing cash flows and the balance from industrial attributable cash flows. This is despite a 50% year-on-year decrease... 

Glencore's head office
Glencore executives unpack the company's 2023 performance and production guidance

Rio Tinto posts lower FY profit

By: Mariaan Webb     21st February 2024 Diversified mining major Rio Tinto CEO Jakob Stausholm on Wednesday reported “resilient” financial results for 2023, with free cash flow of $7.7-billion and underlying earnings of $11.8-billion. Balance sheet strength enabled Rio Tinto to invest with disciple, while also playing an ordinary... 

Rio Tinto CEO Jakob Stausholm
Rio Tinto CEO Jakob Stausholm

Unions express dismay over mining sector retrenchments

By: Tasneem Bulbulia     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... 

An image showing part of Sibanye-Stillwater's Marikana operation
Sibanye-Stillwater Platinum recently finished a retrenchment exercise at its Rustenburg and Marikana operations

Worst of inflationary wave over, says BHP CEO

By: Mariaan Webb     20th February 2024 Diversified mining group BHP CEO Mike Henry has expressed confidence in a more favourable economic outlook for 2024, declaring that the worst of the global inflationary wave is over. BHP, which on Tuesday reported flat first-half underlying profit of $6.6-billion, is witnessing a shift towards a... 

BHP CEO Mike Henry
BHP CEO Mike Henry

Forge Academy launches new 4IR training centre in partnership with Sibanye-Stillwater

By: Schalk Burger     19th February 2024 Technology training company Forge Academy has launched a new Fourth Industrial Revolution (4IR) training centre and two courses in partnership with mining company Sibanye-Stillwater. The first two 12-month certification courses will be in Amazon Web Services with Business Analysis, and Community... 

Altona diversifies into other critical materials

By: Marleny Arnoldi     19th February 2024 While London-listed Altona Rare Earths advances its Monte Muambe rare earths project, in Mozambique, the company has also decided to pursue a balanced portfolio of critical raw materials projects across different African countries. Having reviewed the company’s corporate strategy, Altona... 

Rare earth oxides

UCT research aims to help stakeholders mitigate mine closure risks

By: Tasneem Bulbulia     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... 

Geopolitical unrest to cause volatility for commodities – RMB

By: Tasneem Bulbulia     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... 

An image showing gold bars
Gold prices are expected to remain firm on the back of safe-haven demand in the risky geopolitical environment

Amplats attains IRMA standard for three platinum mines in Southern Africa

By: Marleny Arnoldi     16th February 2024 Platinum group metals (PGMs) miner Anglo American Platinum (Amplats) has passed the audit for Initiative for Responsible Mining Assurance’s (IRMA’s) comprehensive mining standard for two of its mines in South Africa and one in Zimbabwe. The Unki mine, in Zimbabwe, was the first in the world to... 

Amplats' Unki mine, in Zimbabwe
Amplats' Unki mine, in Zimbabwe

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

By: Tasneem Bulbulia     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... 

DRC investment to be buoyed by elevated copper price

By: Halima Frost     16th February 2024 A forecasted increase in global copper prices will encourage continued investment in the “copper and cobalt mining powerhouse of Africa” – the Democratic Republic of the Congo (DRC) – reports business advisory firm BDO South Africa senior audit manager Dorcas Nhlapo. She attributes this elevated... 

A group of make shift tents and lean to's in the DRC Bush which houses artisanal miners and their families
COPPER CAMPOUT An artisanal miner encampment which is a prolific occurrence in the Democratic Republic of the Congo

Vale to follow BHP on new provisions over dam failure, analysts say

By: Reuters     15th February 2024 Brazilian miner Vale is expected to hike its provisions after BHP Group flagged a $3.2-billion impairment related to the failure of a dam operated by their joint venture Samarco, analysts said. The collapse of the tailings dam in the Brazilian southeastern city of Mariana in 2015 caused a giant... 

The collapse of the tailings dam in Mariana in 2015 caused a mudslide that killed 19 people and severely polluted the Rio Doce river.
The collapse of the tailings dam in Mariana in 2015 caused a mudslide that killed 19 people and severely polluted the Rio Doce river.

Reforms, Mining Exploration Fund, black ownership make headlines  

15th February 2024 Mining Weekly Editor Martin Creamer discusses the need for energy and logistics reforms for sustainable mining; the agreement between the Department of Mineral Resources and Energy and the IDC for the establishment of a Mining Exploration Fund; and black ownership in SA mining has reached 39%.   

Photo of Martin Creamer
Reforms, Mining Exploration Fund, black ownership make headlines

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

By: Tasneem Bulbulia     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... 

An image of Mineral Resources and Energy Minister Gwede Mantashe
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

BHP considers closing WA Nickel, flags impairments

By: Mariaan Webb     15th February 2024 Diversified mining major BHP is considering closing its Western Australia Nickel operations, amid the sharp fall in prices, the company announced on Thursday. BHP said it could place Nickel West into care and maintenance and that it was assessing the phasing and capital spend for the development... 

It is an uncertain time for the Western Australia nickel industry
It is an uncertain time for the Western Australia nickel industry

South32 board approves $2.16bn US zinc mine

By: Mariaan Webb     15th February 2024 The board of South32 has given the green light for the development of the Taylor polymetallic deposit – the first development at its regional-scale Hermosa project in the US state of Arizona. The development of Taylor, which is aligned with the group’s strategy to reshape its portfolio, will... 

The Hermosa project in the US state of Arizona
The Hermosa project in the US state of Arizona

Hydrogen cars come into sharp new focus as global climate politics takes turn for better 

By: Martin Creamer     14th February 2024 For the first time, luxury vehicle manufacturer BMW has a fleet of hydrogen-fuelled cars on South Africa’s roads, supported by a green hydrogen refuelling infrastructure set up at its Midrand campus in Johannesburg. The outcome of BMW, Anglo American Platinum (Amplats) and Sasol finding common... 

The BMW iX5 Hydrogen passenger car being refuelled with green hydrogen.
BMW, Anglo American Platinum, Sasol talk to Mining Weekly’s Martin Creamer on the new BMW iX5 Hydrogen taking to South Africa’s streets. Video: Darlene Creamer.

SRK Consulting makes director, partner appointments in South African operations

By: Tasneem Bulbulia     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. 

An image of SRK Consulting South African consulting practice director Robert Armstrong
SRK Consulting South African consulting practice director Robert Armstrong

Resources Watch 

14th February 2024 This week: Multotec optimistic about African mining; Mining needs new ways to increase productivity; and, FLSmidth discusses innovations for sustainable mining 

Resources Watch
Resources Watch

Bambili close to finishing feasibility study on hydrogen fuel cell power system for Anglo’s head office

By: Darren Parker     13th February 2024 Diversified mining major Anglo American has selected hydrogen energy solutions company Bambili Energy to deploy a 2 MW hydrogen fuel cell power system lighthouse project to provide electricity at its headquarters in Rosebank, Johannesburg, South Africa. Bambili Energy CEO Zanele Mavuso Mbatha... 

Anglo American's new head office in Oxford Road

Power aggregators seen as key accelerators of South African mining’s energy transition  

By: Martin Creamer     13th February 2024 Many energy projects selling to one buyer, who in turn sells to many mines – this procurement model is seen as a key financial tool to accelerate the energy transition of South Africa’s mining industry. “We think the aggregator model can really accelerate the requirements of the mines to get... 

Nedbank CIB) Energy Finance Co-Head Amith Singh.
Nedbank CIB Energy Finance Co-Head Amith Singh interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Opinion: Takeways from the 2024 Mining Indaba

13th February 2024 In this article, policy advisor and Associate Fellow of Chatham House Sheila Khama writes that the Investing in African Mining Indaba is progressively repositioning itself internally but also being shaped by external forces. Just 15 years ago, being a miner felt like pushing water uphill. The... 

Opinion: Takeways from the 2024 Mining Indaba

Mixed bag for December mining production, sales

By: Tasneem Bulbulia     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... 

An image of Stats SA principal survey statistician Juan-Pierre Terblanche
Stats SA principal survey statistician Juan-Pierre Terblanche

Mining’s focus switching to critical minerals, with ESG pressures increasing

By: Rebecca Campbell     12th February 2024 The need to transform the global energy system and to cut carbon emissions, to counter the danger of climate change, is shifting the mining spotlight away from traditional high-value resources, such as gold and diamonds, to what are now being called “critical transition minerals”. So stressed... 

Anglo American, Finnish Minerals sign battery value chain agreement 

By: Schalk Burger     12th February 2024 Mining multinational Anglo American and Finnish State-owned mining company Finnish Minerals Group have signed a memorandum of understanding (MoU) to explore opportunities to further support the northern European country's battery strategy. As a Finnish state-owned company with a mandate to foster... 

Anglo American projects and development director Alison Atkinson.
Anglo American projects and development director Alison Atkinson.

Stanmore swoops in on South32’s Eagle Downs

By: Mariaan Webb     12th February 2024 Coal miner Stanmore Resources on Monday announced that it would buy diversified mining firm South32’s 50% interest in the Eagle Downs metallurgical joint venture (JV) coal project, in Queensland. Stanmore will acquire the Eagle Downs stake for $135-million, comprising a $15-million upfront cash... 

Stanmore swoops in on South32’s Eagle Downs

Permanent aerial mesh support, exoskeletons under scrutiny to make mining safer 

By: Martin Creamer     9th February 2024 Minerals Council South Africa is looking at the possibility of promoting permanent aerial mesh support throughout the mining industry as part of its fall-of-ground action plan. The Minerals Council has a robust fall-of-ground action plan that targets several dimensions of the biggest contributor... 

Minerals Council CEO Mzila Mthenjane flanked by Japie Fullard (left) and Dushendra Naidoo (right).
Minerals Council CEO Mzila Mthenjane flanked by Japie Fullard (left) and Dushendra Naidoo (right).

Mining industry sustainability hinges on energy, logistics reforms, Minerals Council stresses

By: Schalk Burger     9th February 2024 The sustainability of the South African mining industry and its ability to play a meaningful and positive role in society and the economy are dependent on urgent and extensive structural reforms in the energy and logistics sectors, mining industry organisation the Minerals Council South Africa... 

Minerals Council CEO Mzila Mthenjane
Minerals Council CEO Mzila Mthenjane

Agriculture, crime, health & safety make headlines   

9th February 2024 Mining Weekly Editor Martin Creamer unpacks headlines from the Investing in African Mining Indaba, criminal syndicates identified by Transnet and noise-induced hearing loss displacing TB and silicosis as the top priority health threat in the South African mining industry   

Photo of Martin Creamer
Agriculture, crime, health & safety make headlines

PDAC to focus on new industry fundamentals

9th February 2024 This year’s Prospectors and Developers Association of Canada (PDAC) convention, will include a key programme that will help miners understand how to navigate environmental, social and governance (ESG) factors and benchmarks, following the growing focus on ESG scorecards and the influence these... 

A group of core samples listed and on display at last years PDAC
AT THE CORE The Core Shack – a unique venue where explorers may display their core samples – will again be an attraction at this years PDAC

Resources Watch  

8th February 2024 This week: Mining Indaba helps AMIS plan for year ahead; WiMSA has strong presence at Mining Indaba and, Astron Energy supports mining customers at Mining Indaba 

Resources Watch
Resources Watch

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

By: Tasneem Bulbulia     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... 

An image of Anglo American CE Duncan Wanblad
Duncan Wanblad
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