Mining Weekly

Niger temporarily suspended the granting of new mining licenses, the first step in an audit of its mining sector as it seeks to boost government revenue. The country will also take stock of existing mining licenses, according to a memo from the mining ministry seen by Bloomberg.

Independent Power Producer (IPP) Office head Bernard Magoro has signalled that the projects bid during the current seventh renewables procurement bid window could carry a price premium, as bidders adjust to the spatial realities that have arisen as a result of the country’s prevailing grid constraints. Through the bid window, which was launched in December, government is seeking to procure 3 200 MW of onshore wind and 1 800 MW of solar photovoltaic (PV) capacity and a bid submission deadline of the end of April has been set.

TSX-V-listed Giyani Metals has secured $10-million in funding from private equity fund ARCH Sustainable Resources Fund. The funding fulfils a key condition for the drawdown of a $16-million convertible loan facility secured from South Africa’s Industrial Development Corporation.

Mozambique approved an extended deal for DP World, Grindrod and other operators of its biggest port, including a $2-billion expansion that will further draw cargoes away from neighboring South Africa’s creaking trade infrastructure. The group, which also includes Mozambique’s state-owned railway operator, won a 25-year extension to run the port in Maputo, the capital, ending in 2058. The Council of Ministers approved the deal on Tuesday, according to a statement. The agreement includes investments of nearly $1.1 billion by 2033 when the original concession was due to end.

As the mining industry commemorates the fifth anniversary of the Brumadinho tailings disaster, in Brazil, the Church of England Pensions Board has highlighted the significant progress in the sector’s commitment to global standards for tailings management. However, while larger companies have taken noteworthy steps, the spotlight is now on smaller firms to embrace these crucial measures. The disaster in 2019 resulted in the loss of 272 lives and prompted a global initiative to address the risks posed by similar incidents.

Africa-focused Perseus Mining expects its strong operating performance to continue for the remainder of the financial year to end June 30, with production guidance for the full-year set at 491 000 oz to 517 000 oz at an all-in sustaining cost (AISC) of $1 000/oz to $1 100/oz. The gold miner produced 128 773 oz of gold in the quarter ended December 31, taking its output for the first six months of the 2024 financial year to 261 577 oz.

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.