Mining Weekly

Toronto-listed bullion producer Iamgold on Tuesday reported a strong finish to 2024, achieving total attributable gold production of 667 000 oz – up 43% from the previous year – thanks to the rapid ramp-up of its Côté gold mine, in Canada, and an “exceptional year” at Essakane, in Burkina Faso. The miner’s attributable gold production was line with its guidance range of 625 000 oz to 715 000 oz, which was revised upwards mid-year.

Aim-listed gold exploration and development company Lexington Gold has established a maiden Joint Ore Reserve Committee (Jorc) exploration target for the group's Bothaville project, in South Africa’s Free State province. The company says the exploration target estimation is based on recent drilling results, historical data and advanced geological modelling and was produced by consultancy firm Shango Solutions.

Johannesburg-based research institute Coaltech has signed a memorandum of agreement (MoA) with the Mpumalanga Green Cluster Agency (MGCA) to support research and innovative solutions towards Just Energy Transition (JET) work in the province. The organisations seek to unlock green economy opportunities, as well as to address the socioeconomic and environmental challenges associated with South Africa’s coal mining sector – including remediating and repurposing of land.

In a voluntary production update, Northam Platinum has reported burgeoning half-year performance from the ramping-up platinum group metals (PGMs) and chrome Eland mine. Eland’s chrome concentrate production soared by 113.1% to 115 387 t in the six months to the end of last year, the first half of Northam’s 2025 financial year (H1 FY2025) compared with the 54 146 t in H1 FY2024 and its PGM concentrate output was also a good 15.1% up at 37 488 oz compared with H1 FY2024’s 32 574 oz.

Aim-listed Caledonia Mining Corporation’s Blanket mine, in Zimbabwe, produced 76 656 oz of gold for the year ended December 31, in line with guidance of producing between 74 000 oz to 78 000 oz, while slightly exceeding 2023 production of 75 416 oz.  Mine activity resulted in a record 797 000 t milled for the year, with 89 727 t hoisted in December, exceeding milling capacity.

Canada-headquartered B2Gold has confirmed that its flagship Fekola mine in Mali is operating without limitations, with gold production and exports proceeding on schedule. The announcement comes amid mounting challenges for international miners in Mali, highlighted by Barrick Gold’s reported decision to halt operations following disruptions by the government.

At least 400 illegal miners remained trapped underground in South Africa two months after a police raid, a group working on behalf of the miners said on Monday, which provided footage of dozens of dead bodies and emaciated men in the mine. A spokesperson for the South Africa Police Service (SAPS) did not respond to a request for comment. Makhosonke Buthelezi, spokesperson for the Department of Mineral Resources and Energy, said bodies had been retrieved from the mine but said no further details could be divulged ahead of an official report.    

Canadian miner Barrick Gold said it will have to suspend mining operations in Mali after the government seized gold stocks from the company's Loulo-Gounkoto complex and flew them out by helicopter over the weekend. Around three metric tons had been taken from the mining complex in western Mali on Saturday, two sources told Reuters on Monday, with one putting the value of the gold at $245-million. In a letter to the Malian government on Monday, Barrick said the seizure meant it would now be "obliged" to temporarily suspend mining operations at the Loulo and Gounkoto mines.

In his two decades at Bank of America Corp as a mining banker, Omar Davis worked on several transactions with former Anglo American boss Mark Cutifani. They’ve now teamed up again to set up a merchant bank hoping to capture the recovery in dealmaking. The duo has joined with other bankers and commodity industry veterans to form London-based Odin Partnership. Davis said they saw an opportunity as the commodities industry draws interest from a wider range of stakeholders from governments to technology companies trying to navigate a resource-constrained world.

This year is poised to have various influences impacting on commodity markets, including Donald Trump’s re-election as US President, says private baking organisation Ninety One. In unpacking the organisation’s outlook for the year, Ninety One global natural resources co-portfolio manager George Cheveley says although 2024 was a “relatively quieter” year for resource markets compared with the volatility of prior years, this year will see concerns over Tump’s tariff policies and China’s response.

A well progressing Tharisa mine underground definitive feasibility study accompanied by early works capital deployment is reported by Johannesburg- and London-listed platinum group metals (PGMs) and chrome company Tharisa Minerals in its latest quarterly production report. In addition is ongoing appraisal of value engineering opportunities at the Karo platinum project in Zimbabwe, where work packages are progressing in line with existing funding.

Mali's government has begun enforcing a provisional order to seize gold stock at Barrick Gold's Loulo-Gounkoto site, the Canadian miner said in a note to Malian staff, warning again that it may have to suspend operations at the complex. The move suggests that Mali's military-led authorities are not ready to back down in a standoff over a contract based on new mining rules as they push for a greater share of revenues from Western miners.

Shifting global demand and new opportunities for forward-thinking organisations in the mining industry is reshaping the industry this year, says business management consultancy OIM Consulting CEO Arjen de Bruin. He highlighted in an opinion piece published on January 13 that the move toward renewable energy globally is reshaping the role of minerals, particularly copper, in the energy mix, while advances in technology and logistics are creating both challenges and possibilities.

Now in its fourth year, the Future Minerals Forum (FMF) has evolved into a global conversation about shaping the future of minerals, bringing together leaders from government, industry and other stakeholders to develop initiatives to increase the production of minerals needed for economic development and electrification of countries to meet carbon reduction goals. This was indicated by FMF content and strategy director Aldo Pennini, speaking to Mining Weekly in the build-up to the forum, which will run this week in Riyadh, Saudi Arabia.

Aim- and AltX-listed diversified metals producer Jubilee Metals Group failed to meet its copper production target at its Roan operation, in Zambia, owing to power constraints, the company announced in an operational and project update on January 13 for the six months ended December 31 – the first half of its 2025 financial year. Copper production in Zambia totalled 1 454 t, a decline from the 1 683 t produced in the first half of the 2024 financial year, and falling short of the revised target of 1 800 t.

Mali is set to get 750-billion CFA francs ($1.2-billion) from miners in the first quarter this year following an overhaul of its mining sector. In late December, Mali had received 500-billion CFA francs following talks with mining companies, Finance Minister Alousseni Sanou said in speech to Parliament.

Namibia’s Mines and Energy Ministry has downplayed the impact of energy company Shell recent $400-million write-down on its offshore oil discoveries, stating that the country it remains committed to developing its hydrocarbon discoveries. “We are dedicated to progressing these opportunities with the right partner and right investment commitment,” the government stated on Friday, adding that Shell’s decision to write down the discoveries would not significantly impact Namibia’s oil and gas development.

India aims to produce five-million tonnes of green hydrogen year by 2030 under the National Green Hydrogen Mission, Prime Minister Narendra Modi has announced. As a first step, two green hydrogen hubs will be established, with inaugural projects in Visakhapatnam, Andhra Pradesh, worth about $27-billion.

Zijin Mining Group, one of China’s most acquisitive miners, says it’s in discussions to buy shares and potentially to take over Zangge Mining a lithium and potash producer. Zijin is in talks with the owners of Zangge that “may result in a change in control” of the firm, it said in a statement to the Hong Kong Exchange. The target is based in Qinghai, a mineral-rich region in the west of China, and has a market value of 46.6-billion yuan ($6.4-billion) on the Shenzhen Stock Exchange.

NYSE-listed Caterpillar has marked 2025 as its 100-year anniversary. The globally recognised original equipment manufacturer (OEM) technically turns 100 on April 15, which is when, in 1925, Holt Manufacturing and the CL Best Tractor merged to form what was then known as the Caterpillar Tractor Co.