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Botswana's Morupule aims to boost coal output by 50% with new minethmess

Mining Weekly 20 hours 17 minutes ago
Botswana President Mokgweetsi Masisi on Wednesday commissioned a new 1.4-million tonne per year coal mine at state-owned Morupule Coal Mine (MCM), aiming to increase exports after demand for the fuel boomed since the start of the war in Ukraine. Despite the country's estimated 212-billion tonnes of coal resources, MCM was its only operating mine until Minergy commissioned a new one in 2019 with an annual capacity of 1.2-million tonnes.

Zambia's Konkola Copper Mines hires RMB to find new investorthmess

Mining Weekly 20 hours 41 minutes ago
Zambia's Konkola Copper Mines (KCM) has appointed Rand Merchant Bank (RMB) as financial advisor as the government searches for a new investor to expand the copper mine and smelter, the company's state-appointed provisional liquidator said on Wednesday. Zambia's previous government put KCM in the hands of a liquidator in May 2019, triggering a legal dispute with Vedanta Resources, KCM's parent company. Zambia and Vedanta agreed this month to seek an out-of-court settlement. 

Omnia commissions reverse osmosis plant to enhance Sasolburg site water efficiencythmess

Mining Weekly 20 hours 47 minutes ago
JSE-listed diversified chemicals company Omnia has commissioned a reverse osmosis water treatment plant at its Sasolburg site to enhance its water efficiency and reduce water consumption by recycling the cooling tower discharge into the cooling tower make up. Reverse osmosis is a process of water treatment that removes a large majority of contaminants by pushing the water under pressure through a semi-permeable membrane.

Nevada Gold Mines wraps up gold royalty salethmess

Mining Weekly 21 hours 35 minutes ago
Nevada Gold Mines (NGM) – a joint venture between Barrick and Newmont – on Wednesday announced the closing of its previously announced sale of a portfolio of royalties to Gold Royalty for $27.5-million. The sale was satisfied through the issuance of Gold Royalty to NGM of 9 393 681 common shares.

Anglo Coal spinoff looks cheap against peers after 1 300% surgethmess

Mining Weekly 22 hours 51 minutes ago
Thungela Resources has soared more than 1 300% since the South African coal miner was carved out of Anglo American Plc last year. But despite this scorching rally, investors value the stock at a discount to worldwide peers, whose reserves of the fuel may last longer. Thungela’s shares trade at about 1.8 times the company’s 12-month estimated earnings, compared with 7.4 times for stocks in the MSCI World Metals and Mining Index.

Each Anglo Platinum employee to receive R8 000 worth of shares a yearthmess

Mining Weekly 23 hours 30 minutes ago
Platinum group metals (PGMs) mining and marketing company Anglo American Platinum has launched a new employee share ownership plan (Esop), which it envisages will be implemented in the fourth quarter of this year. The Esop involves employees receiving Anglo Platinum listed shares to the value of R8 000 each a year, in addition to participation in the evergreen ownership of 2% of Rustenburg Platinum Mines, Anglo Platinum’s operating subsidiary.

China’s $30bn coal investment may be wasteful climate riskthmess

Mining Weekly 23 hours 40 minutes ago
Increased spending this year on coal power and steel production threatens China’s climate goals and could end up as wasted investment, according to clean air campaigners. An acceleration in approvals in the first half of 2022, representing as much as 230-billion yuan ($32-billion) in investment, comes despite declines in coal-fired power generation and steel output, according to a report authored jointly by the Centre for Research on Energy and Clean Air and Global Energy Monitor.

Metals for cleaner future being turned to account in minerals-endowed Northern Capethmess

Mining Weekly 1 day ago
South Africa’s critical minerals potential is being highlighted in an increasingly promising manner by Orion Minerals, the Sydney- and Johannesburg-listed company that is showing the way in the minerals-endowed Northern Cape. Orion, headed by its Boksburg-born CEO Errol Smart, is poised to bestow on South Africa an integrated and far-reaching value chain of future facing metals production in a province which is crying out for more exploration in the new era of enhanced prospecting technology.

Noront renamed Ring of Fire Metals; Eagle's Nest activity restartsthmess

Mining Weekly 1 day 1 hour ago
Australia-based Wyloo Metals has rebranded its Canada-based business as Ring of Fire Metals, and has restarted activity at the Eagle’s Nest project, in northern Ontario. Mining mogul Andrew Forrest’s Wyloo in April bought Noront Resources, having outbid diversified major BHP in the battle for the Canadian nickel company.

Jagersfontein mine dam owner denies second collapsethmess

Mining Weekly 1 day 1 hour ago
Jagersfontein Developments, the owner of a mine waste dam that partially collapsed two weeks ago, denied on Wednesday that another dam wall had collapsed, contradicting a statement from the Free State provincial government. "There has been no further breach of any kind at the facility," the company said in a statement, adding that reports about a further collapse are "unfounded and untrue".

Sandstorm Gold to raise $80mthmess

Mining Weekly 1 day 1 hour ago
Gold royalty company Sandstorm Gold has announced a $80-million capital raising to fund future acquisitions or streams and royalties, as well as the repayment, from time to time, of amounts drawn under its revolving creditor facility. The NYSE- and TSX-listed company has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and Scotiabank under which the underwriters have agreed to buy from the company, on a bought deal basis, 15.7-million common shares at $5.10 each. The offering is expected to close on October 4.

Beaufor idled amid operational, financial woesthmess

Mining Weekly 1 day 1 hour ago
The Beaufor gold mine, in Val’d Or, Quebec, is being put on care and maintenance for “an undetermined period”, owner Monarch Mining said on Tuesday, citing financial and operational challenges. The TSX-listed company at the end of last month started slowing down its mining activities at Beaufor, after a slower ramp-up of the mill following a number of mechanical and procurement issues, as well as problems with the grade reconciliation of the material stockpiled, caused cash restrictions.

NUM asks that Eskom board restructuring includes public participation thmess

Mining Weekly 1 day 1 hour ago
The National Union of Mineworkers (NUM) has welcomed Public Enterprises Minister Pravin Gordhan’s plan to restructure and reconstitute the board of State-owned power utility Eskom. The Minister announced on September 27 that government would soon start the process of restructuring the board, following a review of the board whose term expired in 2021 and was extended subject to a review.

Shale gas science action plan emphasises research, consultation, oversight and compliancethmess

Mining Weekly 1 day 2 hours ago
The ‘Science Action Plan (SAP) for Shale Gas in the Karoo Basin’ proposes a raft of integrated actions and research topics to ensure South Africa approaches the potential exploitation and production of shale gas with the necessary technical competence, oversight, safety and environmental compliance and industrial value chains. The SAP proposes firstly, and of critical importance, the strengthening of the policy-making environment to ensure all regulations are in place to ensure that, when such an industry launches, it is done in a manner that is globally and technically environmentally compliant, Academy of Science of South Africa (ASSAf) shale gas panel chairperson Professor Cyril O'Connor noted during a September 27 presentation hosted by ASSAf.

MMG to invest $2bn at its troubled Peruvian Las Bambas minethmess

Mining Weekly 1 day 2 hours ago
Chinese miner MMG expects to invest $2-billion in the next five years to expand its troubled Las Bambas copper mine in Peru and is eyeing potential acquisitions to further increase production, an executive said on Tuesday. Las Bambas GM Edgardo Orderique said at the Perumin mining conference that the company is hoping to double copper production by 2025 and double it again by 2030.

Qld unveils ten-year energy plan thmess

Mining Weekly 1 day 2 hours ago
The Queensland Resources Council (QRC) has welcomed the Queensland government’s new 10-year energy plan, but has warned that more would need to be done to attract large-scale investment. Premier Annastacia Palaszczuk on Wednesday unveiled the Queensland Energy and Jobs Plan, which is aimed at investing some A$62-billion in the energy system up to 2035, in public and private funding.

Piedmont still open to more spodumene opportunities thmess

Mining Weekly 1 day 2 hours ago
Lithium developer Piedmont was looking at opportunities to increase its resource and ore reserves as it works towards bringing its US assets into production. The dual listed company earlier this year earmarked a site in Tennessee for the development of a new 30 000 t/y lithium hydroxide operation, which is expected to start in 2025, and will convert spodumene concentrate sourced from Piedmont’s global project into lithium hydroxide to supply the US electric vehicle (EV) manufacturing industry.
Mining Weekly covers real-time news on mining projects across a range of minerals including gold, platinum, diamonds, copper and ferrous metals.
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