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Assessment of Eskom coal fleet warns ‘fixation on the EAF is a dead end’thmess

Mining Weekly 1 day 18 hours ago
An expert assessment of the state of Eskom’s 14 coal-fired power stations conducted between March and May 2023 describes the prevailing “fixation” on the coal fleet’s energy availability factor (EAF) as a “dead end” that was leading to poorer plant performance. Conducted for the National Treasury by a Vgbe-led consortium, the report notes that outage and maintenance activities had been deferred over the last months and years to lift – or at least to maintain – the EAF.

PTM shareholders show strong support for new directors thmess

Mining Weekly 1 day 19 hours ago
TSX- and NYSE-listed Platinum Group Metals (PTM) has announced its board of directors as voted for by shareholders at an annual general meeting on February 29, which had a turnout of shareholders representing 59% of the group’s issued shares eligible to vote. Shareholders strongly supported the appointment of directors Diana Walters, Frank Hallam, Timothy Marlow, John Copelyn, Stuart Harshaw and Mpho Makwana.

Platinum remains in fundamental deficit – Northamthmess

Mining Weekly 1 day 19 hours ago
Platinum remains in fundamental deficit, Northam CEO Paul Dunne emphasised at the company’s presentation on Friday, which reported a strong performance from all group operations in the six months to December 31. “In mining terms, it’s a slow-burning fuse. Ultimately, we will see a price response to this picture,” said Dunne, as he displayed a visual diagram indicating the downward outlook for platinum supply. (Also watch attached Creamer Media video.)

Debswana's diamond sales down 25.1% in 2023 on weak demandthmess

Mining Weekly 1 day 23 hours ago
Debswana Diamond Company's sales of rough diamonds fell 25.1% in 2023, data released by Botswana's central bank late on Thursday showed, as an economic slowdown hit demand for luxury items in the US and China and competition from lab-grown gems increased. Debswana, equally owned by Botswana and Anglo American's De Beers, sells 75% of its output to De Beers with the balance taken up by State-owned Okavango Diamond Company (ODC).

New chemical tech at Barrick’s Buylanhulu mine results in cleaner tailings, better recoveries thmess

Mining Weekly 2 days ago
Following a successful trial of chemical technologies provider Draslovka’s GlyCat glycine leaching technology at global miner Barrick Gold’s Buylanhulu mine, in Tanzania, the gold miner has started commercial use of this technology at the mine, with more sites to follow. The companies in mid-2023 announced a partnership whereby Barrick would trial and use the GlyCat technology at the mine and conduct a broader testing programme spanning multiple mining sites this year.

Northam declares cash dividend, boosts self-generationthmess

Mining Weekly 2 days ago
Johannesburg Stock Exchange-listed mining company Northam Platinum on Friday declared a cash interim dividend after reporting strong performance from all group operations in the six months to the end of December. Northam’s sale last year of its investment in Royal Bafokeng Platinum strengthened the company’s balance sheet and liquidity significantly with cash on hand and available undrawn banking facilities collectively amounting to R22.8-billion at year-end.

Implats experiencing strong PGMs demand, working on pulling hydrogen uptake closerthmess

Mining Weekly 2 days 7 hours ago
Platinum group metals (PGM) mining, refining, and marketing company Implats, which reported solid production in a low-price environment on Thursday, is ironically still experiencing strong demand for all major PGMs with the exception of ruthenium. The group generated half-year earnings before interest tax depreciation and amortisation of R8.4-billion, headline earnings of R3.3-billion or 365 cents per share, and recorded a free cash outflow of R4.8-billion, after funding capital expenditure of R6.8-billion.

De Beers strengthens provenance collaboration ahead of G7 import ban on Russian diamondsthmess

Mining Weekly 2 days 18 hours ago
Ahead of new diamond import requirements from Group of 7 (G7) nations, starting on March 1, diamond producer De Beers Group says it anticipates no disruption to its diamond supply. The group reiterates that it fully supports the G7’s intentions to prohibit the import of Russian diamonds. It also emphasises the efforts it has taken over the past decade to provide assurance on the provenance of its diamonds.

Implats expecting phased reduction in group outputthmess

Mining Weekly 2 days 19 hours ago
A phased reduction in group output owing to a probable decline in production from Impala Canada and Mimosa in Zimbabwe is likely from platinum group metals (PGMs) mining and marketing company Implats, which on Thursday reported lower group profitability, despite disciplined cost control and solid production across several operations. The odds-on decline in production amounts to roughly 8% of the production guidance of the 2024 financial year to June 30. (Also watch attached Creamer Media video.)

Cabinet and business praise Sasol and TFR for ‘first-of-its-kind’ partnership to repair 128 ...thmess

Mining Weekly 2 days 23 hours ago
Both Cabinet and organised business have lauded the five-year public-private partnership agreement between Sasol and Transnet Freight Rail (TFR), under which the energy and chemicals group will fund the maintenance and repair of a dedicated fleet of 128 ammonia tankers. In a statement following its February 28 meeting, Cabinet welcomed what it described as a “first-of-its-kind” partnership agreement, which it said would advance the country’s Freight Logistics Roadmap, drafted to turn around the underperforming sector.

Project finance clinched for 520 MW South African wind, solar projects – Anglothmess

Mining Weekly 3 days ago
Johannesburg- and London-listed diversified mining and marketing company Anglo American announced on Thursday that jointly owned renewable energy venture with EDF Renewables, Envusa Energy, has completed the project financing for its first three wind and solar projects in South Africa. The terms and structure of this non-recourse project financing are typical of high-quality renewable energy infrastructure assets. These three renewable energy projects, known as the Koruson 2 cluster of projects and located on the border of the Northern and Eastern Cape provinces of South Africa, will have a total capacity of 520 MW of wind and solar electricity generation.

Indonesia, South Africa aim to regain lost share in Indian coal marketthmess

Mining Weekly 3 days 1 hour ago
Top coal exporters Indonesia and South Africa are aiming to ramp up supplies of thermal coal to key buyer India, company executives said, as they look to regain market share in the world's second largest import market for the fuel. Indonesia and South Africa are top suppliers of thermal coal to India, but have lost market share in recent years to the United States, Russia and Australia due to major changes in trade routes over geopolitical concerns.

Business sees appointment of Phillips as key step in accelerating Transnet Recovery Planthmess

Mining Weekly 3 days 2 hours ago
Organised business says the appointment of a permanent executive team at Transnet – led by CEO Michelle Phillips, who has been acting in the role since September and who has been with the utility for 20 years – will enhance stability in the relationships between Transnet and the business sector and accelerate the implementation of the Transnet Recovery Plan. Phillips’ appointment was announced by Public Enterprises Minister Pravin Gordhan on February 28 alongside that of Nosipho Maphumulo, who has been appointed CFO.

Low prices hit profitability of strongly producing Implatsthmess

Mining Weekly 3 days 3 hours ago
The significant decline in platinum group metal (PGM) prices during 2023 has resulted in notably lower group profitability, despite disciplined cost control across several operations, PGMs mining and marketing company Implats reported on Thursday.   The group generated earnings before interest, taxes, depreciation and amortisation (Ebitda) of R8.4-billion, headline earnings of R3.3-billion or 365c a share, and recorded a free cash outflow of R4.8-billion, after funding capital expenditure of R6.8-billion.

Green energy integrated into Harmony Gold operations, uranium surprises on upsidethmess

Mining Weekly 3 days 6 hours ago
Green electrons are being generated as planned at Harmony Gold’s 30 MW first phase of renewable energy generation, which is now fully integrated into the mining company’s Tshepong South and North operations. This was made clear by Harmony FD Boipelo Lekubo, who spoke to Mining Weekly in a Zoom interview on Wednesday, following the Johannesburg- and New York-listed posting a superb set of half-year financials and declaring a record interim dividend. (Also watch attached Creamer Media video.)

South32 exits coal with Australia’s Illawarra salethmess

Mining Weekly 3 days 6 hours ago
Diversified mining company South32 on Thursday announced the $1.65-billion sale of its Illawarra assets, in Australia, marking the group’s exit from coal and aligning with a strategy that emphasised ventures in copper and zinc. The ASX-, LSE- and JSE-listed miner sold Illawarra to Golden Energy and Resources (GEAR) and M Resources for cash.

Tackling illegal mining key to sustainability of the mining industrythmess

Mining Weekly 3 days 18 hours ago
Illegal mining is one of the biggest constraints threatening the sustainability of the South African mining industry and, while this challenge is considerable, it is not insurmountable. There are several measures that stakeholders can and are pursuing to mitigate the impact of illegal mining. This was the key message outlined by speakers in Creamer Media’s ‘Mining Sustainability and Security in the South African Mining Industry’ webinar, held on February 28.

Amid disposals, AECI aligns internationalisation strategy to regions geared for rapid critical ...thmess

Mining Weekly 3 days 20 hours ago
JSE-listed AECI, which is undergoing far-reaching restructuring to re-focus on its core mining and chemicals businesses and reduce debt, reports strong initial interest in the six noncore companies that it plans to dispose of over the coming 18 months for combined proceeds of about R2.5-billion. CEO Holger Riemensperger insists that there will be “no fire sale” and reports that a comprehensive disinvestment roadmap has been finalised for Much Asphalt, Animal Health, Schirm, Sans Fibers, Beverages and Public Water.
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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