Mining Weekly

UK-headquartered graphite developer Blencowe Resources has received a formal Letter of Interest (LoI) from the US International Development Finance Corporation (DFC), in which the DFC has indicated its willingness to participate in debt funding for the Orom-Cross graphite project, in Uganda, subject to all necessary due diligence. This follows recent discussions with the DFC’s project funding division and follows the 2023 agreement with the DFC's technical assistance division, which already entered into a $5-million technical assistance grant (TAG).

JSE- and TSX-V-listed Alphamin Resources has announced record tin production of 12 568 t for the year ended December 31. This exceeded market guidance of 12 000 t and marked a 1% improvement on the production posted for the prior year .

State-owned rail and port operator Transnet could, potentially, show significant improvement this year compared with last year’s dismal performance, says transport economist and macrologistics researcher at Stellenbosch University Dr Jan Havenga.  However, it is imperative that Public Enterprises Minister Pravin Gordhan appoints new leadership at Transnet as soon as possible, he adds.

Gemstone miner Gemfields reports that auction revenues and pricing for both emeralds and rubies remain strong, with the company having earned auction revenues of $242-million in 2023 – the second-highest year in Gemfields' history despite the withdrawal of November 2023's auction of higher-quality emeralds. Gemfields' 75%-owned Kagem emerald mine, in Zambia, experienced a general improvement in both the quality and quantity of premium emeralds recovered in recent months, the company points out.

ASX-listed Ionic Rare Earths has received firm commitments to raise about $2-million by way of a share placement to provide working capital and to advance demonstration plant activities at both the magnet recycling facility in Belfast, Northern Ireland, and the Makuutu rare earths project, in Uganda. Incoming executive chairperson Brett Lynch has committed to subscribe for about $1.5-million worth of fully paid ordinary shares, subject to the receipt of shareholder approval.

Mining Indaba to open with SA mining industry hit hard by rail inefficiencies The yearly African Mining Indaba will start on February 5 against the backdrop of the local mining industry facing unprecedented challenges, including rail inefficiencies leading to historically low coal and iron-ore exports in 2023, persistent energy insecurity challenges and more than a decade of regulatory chaos, said business organisation Business Leadership South Africa (BLSA) CEO Busi Mavuso.

Canada-headquartered Tantalex Lithium has produced its first batch of tin and tantalum concentrates from its Titan plant, in the Democratic Republic of Congo (DRC). The first batch of 10 t of exportable high-grade industrial and fully traceable tin concentrates has been processed in Manono. An additional 2.5 t of tantalum concentrates have also been produced.