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South America News

Global gold mining major highlights academic partnership with South Africa’s Fort Hare 

By: Martin Creamer     21st June 2024 The University of Fort Hare, where the offspring of mineworkers were the first graduates, has agreed a R12.5-million, initial ten-year academic partnership with gold mining major AngloGold Ashanti, which no longer mines in this country and is now domiciled in London. Fort Hare is the university... 

SQM to join Talga in Swedish lithium project

By: Mariaan Webb     21st June 2024 Battery materials and technology company Talga Group has entered into an earn-in agreement with lithium miner Sociedad Química y Minera de Chile (SQ) over the Aero project, in Sweden. Under the agreement, Talga has granted SQM the right to sole fund exploration expenditure of up to $19-million... 

Major focuses on regional sustainability

By: Lumkile Nkomfe      21st June 2024 Amid an increased focus on the clean energy transition, diversified mining group Anglo American highlights sustainability as an integral aspect of how it operates and that the company goes to great lengths to understand the full impact of its strategic decisions in this regard. “Underpinning our... 

An image of the Quellaveco copper mine
NECESSARY OBJECTIVES Environmental sustainability epitomises mining major's overarching strategy in South America

Key EV battery material can come from a surprising source: methane

By: Bloomberg     20th June 2024 Graphite is key to manufacturing the lithium-ion batteries that power everything from electric cars to smartphones. While China is the world’s top producer and exporter of the crystalline carbon, there’s been a push to grow a US supply chain. Oakland-based startup Molten Industries is working to... 

Green copper, vapour refining envisaged at Orion’s Northern Cape base metals mines 

By: Martin Creamer     20th June 2024 Green copper and clean smelting and refining are envisaged at Orion Minerals’ quickly advancing base metals mines in South Africa’s well-endowed Northern Cape province, which has historically produced 2.5-millon tons of copper until base metal mining ceased there several decades ago. The fully... 

This Prieska mine chamber was blasted in the 1970s.
Photo by Creamer Media
This Prieska mine chamber was blasted in the 1970s.

Harmony confident of meeting full-year targets, reporting 'exceptional' free cash flow

By: Creamer Media Reporter      20th June 2024 JSE-listed Harmony Gold Mining Company has informed shareholders that it will meet its production, grade and cost guidance for the financial year to end on June 30, and that it continued to generate "exceptional" operating free cash flow on the back of the recovered grades, a higher rand gold... 

Harmony Gold CEO Peter Steenkamp
Harmony Gold CEO Peter Steenkamp

Construction of South Star’s Brazil graphite mine nearing completion

By: Creamer Media Reporter      20th June 2024 Canada-listed South Star is gearing up for production from the Phase 1 plant of its flagship Santa Cruz graphite mine, in Brazil, to start in the coming weeks. Construction of the 1 000 t/m plant will be completed this month, followed by an estimated six weeks of commissioning and ramp-up. 

South Africa now a compelling world investment story, upbeat Orion highlights 

By: Martin Creamer     19th June 2024 “The sun is finally shining on us,” an upbeat Orion Minerals CEO Errol Smart enthused during an Australia/South Africa webinar on Wednesday, when he outlined how South Africa has become one of the world’s most compelling short-term investment stories. Predicting that this country's investment... 

Errol Smart
Orion Minerals webinar covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer

Fast-greening Richards Bay Minerals now eyeing on-site renewables, storage, aggregation  

By: Martin Creamer     19th June 2024 Energy-intensive Richards Bay Minerals (RBM), which consumes an average of 1.8 terawatts of power a year, was able to secure its latest 140 MW wind energy power purchase agreement (PPA) in six months. When operating at full capacity, RBMs, power consumption across its mining and smelting... 

Richards Bay Minerals GM for Growth Strategy Bradley Reddy.
Richards Bay Minerals' Bradley Reddy interviewed by Mining Weekly's Martin Creamer. Video: Darlene Cereamer.

B2Gold unveils new PEA for ‘medium-scale’ Gramalote project

By: Mariaan Webb     19th June 2024 Vancouver-headquartered B2Gold has unveiled a new preliminary economic assessment (PEA) for the Gramalote project, in Colombia, outlining a medium-scale operation that marks a shift from previous plans. The new PEA envisons an openpit mine producing an average of 185 000 oz/y of gold over a... 

B2Gold unveils new PEA for ‘medium-scale’ Gramalote project

Chile lithium projects garner interest from over 50 companies

By: Reuters     19th June 2024 More than 50 companies have expressed interest in developing lithium projects in Chile, Finance Minister Mario Marcel said on Tuesday, after the government called for proposals for a range of salt flats containing the battery metal. Chile, the world's largest copper producer, called for... 

Chile lithium projects garner interest from over 50 companies

Codelco-SQM lithium deal can proceed without shareholder approval, regulator says

By: Reuters     19th June 2024 Chile's financial regulator said on Tuesday that a planned lithium joint venture between State-run Codelco and miner SQM does not need to face a vote by SQM shareholders as argued by China's Tianqi Lithium, which owns a fifth of SQM. The deal would give the state a key role in producing lithium... 

Codelco-SQM lithium deal can proceed without shareholder approval, regulator says

Central banks to increase gold holdings in next 12 months - World Gold Council

By: Schalk Burger     18th June 2024 More than eight in ten, or 81%, of respondents to the 2024 Central Banks Gold Reserves survey said they expect reserve managers to continue to increase their gold holdings in the next 12 months. This data, released by the World Gold Council, reflects the highest confidence level recorded since... 

Central banks to increase gold holdings in next 12 months - World Gold Council

Southern Palladium remains committed to advancing Bengwenyama project

By: Martin Creamer     18th June 2024 The completed prefeasibility study (PFS) drilling campaign for the Bengwenyama platinum group metal (PGM) project, on the eastern limb of South Africa’s distinctively endowed Bushveld Complex, is emphasising the robustness of the upper group two (UG2) reef, project developer Southern Palladium... 

Flashback to the listing of Southern Palladium on the Johannesburg Stock Exchange two years ago.
Flashback to the listing of Southern Palladium on the Johannesburg Stock Exchange two years ago.

Thungela poised to spend R3.9bn capital in South Africa 

By: Martin Creamer     18th June 2024 Johannesburg Stock Exchange-listed Thungela Resources is poised to spend R3.9-billion worth of capital in South Africa going forward. An estimated R1.3-billion of this capital expenditure (capex) is scheduled to be spent in the next six months and a further R800-million in the final six months of... 

Thungela Resources active in Mpumalanga.
Thungela Resources active in Mpumalanga.

Chile says Saudi Mining Minister to visit, lithium expected on agenda

By: Reuters     18th June 2024 Chile's government said on Saturday that Saudi Arabia's Mining Minister will travel to the Latin American country in July and plans to meet with his counterpart in Santiago. Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef told Reuters in March the kingdom was interested in... 

Peru miner Volcan eyes $200m in further asset sales

By: Bloomberg     18th June 2024 Volcan Cia Minera, the Peruvian zinc miner that was recently acquired by Argentine group Integra Capital, said it is pushing ahead with plans to sell non-core assets as it talks with creditors to refinance a pile of debt coming due in the coming years. The company, in which Glencore sold a... 

Port of Chancay
Port of Chancay

Probably more diamond industry uncertainty now than at any other point – Gemdax 

By: Martin Creamer     14th June 2024 While the diamond sector probably has more uncertainty now than at any other point, participants also probably have a bigger opportunity than ever to shape what the future will look like. “One thing's for sure, the way the industry has operated over the last decade is not going to be the way it... 

Gemdax co-founder and partner Anish Aggarwal.
Gemdax's Anish Aggarwal interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

G7 leaders commit to faster transition from fossil fuels - draft statement

By: Reuters     14th June 2024 Leaders of the Group of Seven (G7) developed democracies will commit to accelerating their transition away from fossil fuels during this decade, according to a draft of a statement to be issued at the end of their ongoing summit in Italy. "We will transition away from fossil fuels in energy... 

G7 leaders commit to faster transition from fossil fuels - draft statement

REE explorer Resouro lists on ASX

By: Mariaan Webb     14th June 2024 Canada-based, Brazil-focused Resouro Strategic Minerals on Friday started trading on the ASX in Sydney, following a A$8-million public initial offering (IPO). Resouro raised the cash by issuing 16-million CDIs at A$0.50 each, with a ratio of one CDI for one share, resulting in a post-IPO market... 

REE explorer Resouro lists on ASX

Vale expects tentative dam collapse settlement with Brazil authorities this month

By: Reuters     14th June 2024 Brazilian miner Vale expects to reach a tentative agreement by the end of this month with Brazilian federal and state authorities to settle reparations over the deadly 2015 collapse of a tailings dam, an executive said on Thursday. The Mariana dam collapse caused a wave of toxic tailings that... 

China steel demand plateaus at a decent level, Vale’s boss says

By: Bloomberg     14th June 2024 Chinese steel demand “has definitely plateaued” due to property woes, though the Asian nation’s appetite for the material is still at a “decent level,” said the head of the world’s second-largest iron-ore producer. Vale SA CEO Eduardo Bartolomeo said Thursday during an investment conference that... 

Vale CEO Eduardo Bartolomeo
Vale CEO Eduardo Bartolomeo

Copper 360 on home straight to produce quite a bit of cash, CEO reports  

By: Martin Creamer     13th June 2024 Copper mining and marketing company Copper 360 is on the home straight to produce quite a bit of cash by financial year end. That was the main takeaway from Mining Weekly’s post-results Zoom interview with the head of the only pure copper play listed on the Johannesburg Stock Exchange (JSE). 

Mining activity at Copper 360.
Copper 360 CEO Jan Nelson interviewed by Mining Weekly's Martin Creamer. Video:Darlene Creamer.

Gold Fields lowers full-year output guidance as Chile mine hit by severe weather

By: Tasneem Bulbulia     13th June 2024 JSE- and NYSE-listed Gold Fields has revised its group-wide full-year production guidance downward, from between 2.33-million and 2.43-million ounces, to between 2.20-million and 2.30-million ounces, owing to a production revision at its Salares Norte project, in Chile, where production is... 

The Salares Norte mine in Chile
The Salares Norte mine in Chile

Brazilian Rare Earths raises A$80m in discounted offering

By: Mariaan Webb     13th June 2024 Exploration company Brazilian Rare Earths (BRE) has successfully raised A$80-million in a discounted A$3.30-a-share placement. The proceeds from the placement will be used to accelerate exploration and development at the Monte Alto, Sulista and Pele rare earth projects, including drilling,... 

Brazilian Rare Earths raises A$80m in discounted offering

Reserve Bank concern about decline of public markets welcome development – Miller  

By: Martin Creamer     12th June 2024 The concern that South Africa’s Reserve Bank expressed last week on the state of this country’s public markets is seen as a welcome development by AmaranthCX director and public market promoter Paul Miller. Everything the Johannesburg Stock Exchange (JSE) has done has not been enough to change... 

AmaranthCX director Paul Miller.
AmaranthCX director Paul Miller interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Four central banks sign London Principles to formalise artisanal small-scale gold mining sector

By: Darren Parker     12th June 2024 The World Gold Council (WGC) has announced that four central banks have committed to signing ‘The London Principles’, which is a set of operating principles to help structure and formalise central bank artisanal and small-scale gold mining (ASGM) domestic purchase programmes (DPP). The inaugural... 

Artisanal gold miners
Artisanal gold miners

Vale, BHP make new offer on Mariana disaster reparations

By: Reuters     12th June 2024 Mining giants Vale and BHP and their joint venture Samarco have presented Brazilian authorities with a new offer to settle reparations over the 2015 Mariana disaster, Vale said in a securities filing on Wednesday. The new proposal totals 140-billion reais ($26.09-billion), including 37-billion... 

The Beno Rodigues district was covered in mud after the Samarco dam burst in Mariana in 2015.
The Beno Rodigues district was covered in mud after the Samarco dam burst in Mariana in 2015.

GMIN’s TZ mine on the brink of gold production

By: Creamer Media Reporter      12th June 2024 TSX-listed G Mining Ventures (GMIN) has announced progress in the commissioning of its Tocantinzinho (TZ) gold project, in Brazil. With the project engineered to produce about 175 000 oz/y of gold over a 10.5-year mine life, the company says it is on schedule and within budget to begin... 

GMIN’s TZ mine on the brink of gold production

BHP set to avert mine strike in Chile with preliminary wage deal

By: Bloomberg     12th June 2024 BHP reached a preliminary wage agreement with union leaders in Chile, signaling the company will avert a costly strike at a copper mine that accounts for about 1% of global supply of the wiring metal. More than 1 100 members of the main union at BHP’s Spence mine in northern Chile will vote on... 

BHP set to avert mine strike in Chile with preliminary wage deal

Freeport-McMoRan is looking for ways to expand copper production, CEO says

By: Bloomberg     12th June 2024 US copper giant Freeport-McMoRan believes it can unlock the equivalent of a large new mine by applying new processing technology at its existing assets, according to new CEO Kathleen Quirk. Quirk, who steps into the role on Tuesday to become the only female CEO of a major listed mining company,... 

Freeport-McMoRan is looking for ways to expand copper production, CEO says

Artificial intelligence used to eliminate need for rare earths in permanent magnets 

By: Martin Creamer     11th June 2024 Discovering new materials has historically been slow. Now artificial intelligence (AI) is making it possible to discover a material entirely computationally and have that verified experimentally. An example of this is AI being used to create a permanent magnet that does not contain any rare earth... 

Development of rare earth-free permanent magnets.
Materials Nexus CTO Robert Forrest interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Kamoa-Kakula Phase 3 concentrator achieves first production ahead of schedule

By: Marleny Arnoldi     11th June 2024 Canada-headquartered miner Ivanhoe Mines has achieved first concentrate production at the Kamoa-Kakula operation’s Phase 3 concentrator, in the Democratic Republic of Congo (DRC). The Phase 3 concentrator was completed nearly two quarters ahead of schedule and is expected to increase... 

Kamoa-Kakula, in DRC
Kamoa-Kakula, in DRC

South Africa’s quickly advancing Copper 360 is guiding sharp 2025 revenue rise  

By: Martin Creamer     11th June 2024 The revenue of South Africa’s quickly advancing Northern Cape copper mining company Copper 360, the only pure copper play on the Johannesburg Stock Exchange, is forecast by the company to have risen sharply by the end of February next year. The AltX-listed company headed by CEO Jan Nelson, is... 

Copper 360 CEO Jan Nelson.
Copper 360 annual results presentation covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Blue Sky sets Ivana uranium deposit on production path with COAM transaction

By: Creamer Media Reporter      11th June 2024 Uranium exploration and development company Blue Sky has announced a transaction that could set the path to bring the Ivana uranium deposit, in Argentina, into production. Blue Sky has entered a binding term sheet with Argentinian firm Corredor Americano (COAM) to complete an option agreement in... 

Codelco copper output hit by lingering effects of rock collapse

By: Reuters     11th June 2024 Codelco attributed a sharp drop in production at its top mine to the lingering effects of a rock collapse last year as the world’s No. 1 copper supplier strives to reverse slumping output. “This situation was foreseen in annual planning and does not affect the committed production budget,” the... 

Codelco copper output hit by lingering effects of rock collapse

Speedier, greener lithium may be nine years away, Codelco says

By: Bloomberg     10th June 2024 Codelco, the copper giant that’s about to become a major lithium player, delivered some cautious guidance on the timing of a cleaner, faster way to extract the battery metal in northern Chile. A week after signing contracts to take a majority stake in SQM’s sprawling brine operations on the... 

Speedier, greener lithium may be nine years away, Codelco says

Major world economies seek to halt new private sector coal financing

By: Reuters     7th June 2024 Some of the world's major economies want to finalise a plan ahead of this year's UN climate summit to halt new private sector funding for coal projects, five sources with direct knowledge of the matter told Reuters. If approved, the draft proposal by the Organisation for Economic Co-operation... 

Major world economies seek to halt new private sector coal financing
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