Mining Weekly

Keep an eye on Vanadium Resources (VR8). It’s a motivated ASX-listed, JSE-mulling junior that is thinking expansively in line with the potentially very long-life mine that it is setting out to develop in South Africa’s expansive Bushveld Complex. VR8’s Steelpoortdrift mine project’s 680-million-ton resource is poised to give the company a potential 180-year lifespan.

Canadian mineral resources exploration and development company Tsodilo Resources has filed an interlocutory application in the Botswana High Court, calling on Minerals and Energy Minister Lefoko Moagi to explain why he should not to be held in contempt of court owing to his failure to comply with an earlier High Court judgment handed down on December 15. In that judgment, the High Court ruled that Moagi’s decision to reject the application for the renewal of Tsolido’s prospecting licence (020/2018) was illegal, unreasonable and irrational.

The Lumwana copper mine’s Super Pit expansion project has been accelerated with initial production now scheduled for 2028, Barrick president and CEO Mark Bristow said on Tuesday. The project will transform the once-struggling Lumwana mine into a major global copper producer, targeting an estimated production of about 240 000 t/y over a 30-year lifespan.

JSE-listed AECI celebrates its centenary this year, with Group CEO Holger Riemensperger attributing the company’s success to its solution-focussed value proposition and dedication from its workforce. Riemensperger describes AECI as a “remarkable success story founded on unique customer relationships and an exceptional ability to evolving global landscapes.”

Metals processing company Jubilee has delivered a robust second-quarter operational performance and remains on track to meet its guidance for the full 2024 financial year. Chrome concentrate production for the three months ended December 31 increased by 13.2%, setting a new quarterly production record of 381 114 t. This compares with the 336 683 t of chrome concentrate produced in the first quarter of the financial year.

Zambian President Hakainde Hichilema is set to deliver a keynote address at the Investing in African Mining Indaba, which will take place from February 5 to 8 in Cape Town, South Africa. This will be Hichilema’s second appearance at Mining Indaba as President, having delivered a keynote address in May 2022, shortly after his election victory in 2021.

Aim- and ASX-listed Sovereign Metals has appointed specialist social performance consultancy SocialEssence to assist in the continued development of the company’s stakeholder relations, social performance objectives and its community and social responsibility (CSR) framework. Sovereign has engaged SocialEssence to design and execute social performance activities during the definitive feasibility study (DFS) phase of the company’s Kasiya graphite project, in Malawi.

TSX-V-listed Aton Resources has reorganised the management team at its Abu Marawat Concession in the Eastern Desert of Egypt. Robert Parr has been appointed COO and will be responsible for overseeing the development of the mining projects at the Abu Marawat Concession.

BSE- and Aim-listed Botswana Diamonds has completed a gravity survey over four high-grade geophysical targets that had good magnetic response in a previous survey undertaken by the company. Preliminary results from this gravity survey show that at least one of the four targets, which is located 6 km south of the existing KX36 diamond discovery, in Botswana, has an “excellent” gravity response similar to that of known kimberlites and similar in size to KX36.

South Africa’s prospective Northern Cape province on Tuesday received yet another promising forward nudge along the road to copper-revival in the form of development obstacles being moved out of the way for Orion Minerals. New surface right access and property acquisition will now allow Orion to advance its Flat Mines Project, for which a bankable feasibility study (BFS) is being carried out by the Johannesburg- and Sydney-listed company.

Canadian uranium exploration and development company Madison Metals has announced that, since November last year, it has successfully received funds for the first tranche of its forward sales agreement with financial advisory firm Sanmiguel Capital Investment at an average price of $68/lb, well above the contractually established $45/lb price floor. Sanmiguel is assisting with the administration of the agreement. Madison said on January 22 that this achievement underscored the uranium agreement’s effectiveness in securing favourable pricing.

Platinum group metals miner Anglo American Platinum (Amplats) has announced that Thabi Leoka has resigned as nonexecutive director and, consequently, the board committees she serves on, with immediate effect to attend to her health and the questions she has been facing in relation to her academic qualifications. Recent media reports have questioned her academic qualifications, particularly her holding of a PhD in economics from the London School of Economics.

Moroccan mining company Managem plans to increase its capital by three-billion dirhams ($300-million) in the first half of this year to fund its gold, copper and cobalt expansion plans, CEO Imad Touimi said. The decision was approved by shareholders as the company invests in gold, copper and cobalt projects to double its earnings from 9 billion dirhams by 2025, Imad Toumi told Moroccan news website Medias24.

Ongoing strong performance by South Africa’s Hillside Aluminium operation in KwaZulu-Natal has helped diversified mining company South32 achieve record half-year aluminium production. Moreover, South Africa Manganese sales increased by 9% in the December quarter at a 5% price premium to the medium grade 37% manganese lump ore index.

Dual-listed gold miner Pan African Resources increased its production by 6.7% year-on-year to 98 458 oz for the six months ended December 31. The company explains that its Barberton Mines underground operation reported increased mined tonnages and grades, compared with the six months ended December 31, 2022, while a ramp up of mining at Evander Mines’ 24 Level underground operations also contributed to higher gold production.

Africa-focused gold miner Endeavour Mining achieved record production at its Ity and Houndé mines, in Côte d'Ivoire and Burkina Faso, respectively, for the year ended December 31, with production from the mines having exceeded 300 000 oz each. The company says it is well positioned for growth in the new year as its Sabodala-Massawa mine, in Senegal, is poised to produce up to 400 000 oz this year, owing to an expansion project.

ASX-listed Perseus Mining has announced its intention to make an off-market takeover offer for all of the issued shares in ASX-listed OreCorp that it does not already own for a cash consideration of A$0.55 per OreCorp share. Full details of Perseus’ offer will be contained in a bidder’s statement that is expected to be lodged with the Australian Securities and Investments Commission, provided to OreCorp and released to the ASX prior to the end of this month.

Sasol and Topsoe have appointed Shell’s Jan Toschka as CEO of their recently established sustainable aviation fuel (SAF) JV. Toschka is described as a seasoned leader in the aviation fuels industry, having been President of Global Aviation at Shell, where he was responsible for the energy major’s global network of operations, joint ventures and sales of fuels, lubricants and sustainable solutions to the aviation industry.

London-listed mining services company Capital continues to see strong demand across each of its business divisions, with the group expecting to report total revenue of $318-million for the year ended December 31. This marks a 9.7% year-on-year growth rate compared with the prior year.

Swedish battery maker Northvolt is looking to source cobalt, used to make chemicals for electric vehicle batteries, from the Democratic Republic of Congo (DRC), the company said on Friday. The company has trialled material, studied work processes and compared plans to improve both social and environmental sustainability with the aim to find long-term partners.