Mining Weekly
23 hours 53 minutes ago
BHP, the world's biggest miner, would need to offer a minimum 40% premium over Anglo American's share price to make a renewed takeover bid now the rival's value has been boosted by asset sales, two sources close to the matter told Reuters. As diversified miners shift their focus to metals needed for the transition to cleaner energy, copper, with multiple uses from power to construction, has attracted intense interest.
Mining Weekly
1 day 2 hours ago
Australia's Foreign Investment Review Board (FIRB) has given the go-ahead for Shandong Yulong Gold to buy a 70% interest in ASX-listed Triton Minerals's in its portfolio of graphite projects in Mozambique, including the flagship Ancuabe project, for A$17-million. The FIRB clearance provides for Pre-Completion to occur, on or before 31 December 2024, in which Yulong will be granted three additional directors to the boards of Kwe Kwe Graphite Lda and Grafex Limitada (the Mozambique ownership ...
Mining Weekly
1 day 3 hours ago
Eskom Holdings’s risk premium is dwindling as a turnaround at South Africa’s State-owned electricity company gathers momentum. The extra yield investors demand to take on the risk of holding the utility’s dollar debt without the benefit of a government guarantee narrowed to the lowest on record following the publication of the utility’s results on Thursday. And the yield premium over comparable US Treasuries is also at the lowest since the Eskom securities were issued in 2018.
Mining Weekly
1 day 4 hours ago
Aim-listed critical raw materials producer Andrada Mining reported a 15% year-on-year increase in contained tin production to 232 t for the third quarter of the 2025 financial year, ended November 30. The company processed 239 240 t of ore during the quarter, up 5% from the 228 234 t processed in the third quarter of the 2024 financial year. Improvements in plant performance were key contributors to this growth, with a tin recovery rate increasing by 12% year-on-year to 74% and plant use rising to 93%, up from 86% in the same period the year before.
Mining Weekly
1 day 4 hours ago
Minerals sands products producer Kenmare Resources, which owns and operates the Moma mine, in Mozambique, has appointed James McCullough CFO, with effect from May 1, 2025, His appointment follows a thorough search process led by the Kenmare nomination committee, in conjunction with an independent executive search firm. James brings extensive mining, strategic and financial experience to Kenmare, having served for 14 years with Rio Tinto Plc (“Rio”), most recently as General Manager - Group ...
Mining Weekly
1 day 5 hours ago
Amid continued weakness in the global diamond industry, London-listed Petra Diamonds has lowered its price expectations for 2025 and initiated a Section 189 retrenchment process affecting the group and its South African Operations support functions, as it works to save costs and generate additional cash. It has appointed Vivek Gadodia chief restructuring officer to lead this work.
Mining Weekly
1 day 5 hours ago
The global mining industry is falling short in its efforts to decarbonise at a rate required to meet science-based targets, according to new research by consultancy dss+. As the industry moves towards 2025, intensified action to reduce emissions is urgently needed, says dss+ principal Gerhard Bolt, who highlights that decarbonisation will be a key focus at the Investing in Africa Mining Indaba 2025, set to take place, in Cape Town, in February.
Mining Weekly
1 day 5 hours ago
Industry organisation Business for South Africa (B4SA) welcomes the release of the Network Statement as an exciting and significant milestone in the journey towards meaningful rail sector reform in South Africa. “The Network Statement represents a pivotal step in unlocking the potential of South Africa’s rail network through third-party access, which is one of several ways identified to bring private sector participation into the system,” says B4SA Transport and Logistics senior executive Ian Bird.
Mining Weekly
2 days ago
JSE-listed logistics company Grindrod, in a December 19 pre-closing trading update, said its focus going forward would be to drive growth in bulk handling, container handling, logistics capability and rail and transport, adding that demand for Grindrod's logistics service offering and its long-term business fundamentals remain strong. Earnings before interest, taxes, depreciation and amortisation (Ebitda) margin in its Port and Terminals segment remained healthy at 35% this year, down from 42% in 2023.
Mining Weekly
2 days ago
Integrated resource group Tharisa is managing a cybersecurity incident after detecting unauthorised activity on its network. The miner on December 19 confirmed that operations remain unaffected.
Mining Weekly
2 days 1 hour ago
State-owned power utility Eskom has reported a R25.5-billion loss before tax for the financial year ending March 31, 2024, following a year marked by operational setbacks, financial strain and systemic inefficiencies. With 329 days of loadshedding and heavy reliance on costly open-cycle gas turbines (OCGTs) during the 2024 financial year, along with escalating municipal debt, the utility continued to face persistent challenges while working towards recovery.
Mining Weekly
2 days 2 hours ago
The fourth edition of the Future Minerals Forum (FMF), to be held in Riyadh, Saudi Arabia, from January 14 to 16, is expected to play a key role in expanding and enhancing discussions on sector challenges, and providing practical solutions by bringing together key stakeholders, including governments, international organisations, business federations, investors, sector leaders and investors. This was highlighted by Saudi Arabia Industry and Mineral Resources vice minister Khalid Al-Mudaifer on December 17, speaking during a briefing outlining the FMF’s 2025 programme.
Mining Weekly
2 days 2 hours ago
Natural resources group South32 expects to rebuild alumina stocks at its Mozal Aluminium smelter, in Mozambique, over the coming days if trucking conditions remain favourable. A national election in the country resulted in violent protests and road blockages in recent weeks; however, South32 reports that the road blockages have largely been cleared in recent days, enabling it to safely transport alumina from port to the smelter.
Mining Weekly
2 days 3 hours ago
Trade and development finance institution the African Export-Import Bank (Afreximbank) has signed a project preparation facility financing agreement for an up to 200 MW private-sector, reservoir-based hydropower project to be located along the Lufira river, in the Democratic Republic of Congo (DRC). The bank has partnered with independent power producer Kipay Investments, which will develop, design, build, install, commission and operate, as well as manage, the hydroelectric power plant.
Mining Weekly
2 days 6 hours ago
Multinational metals and mining group Sibanye-Stillwater has entered into a $500-million streaming agreement with Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada Corporation. The deal grants Franco-Nevada access to gold and platinum streams from Sibanye-Stillwater’s Marikana, Kroondal and Rustenburg operations, in South Africa, in exchange for an upfront payment of $500-million.
Mining Weekly
2 days 7 hours ago
Namibia’s Ministry of Mines and Energy is investigating Xinfeng Investments for alleged illegal mining in the lithium-rich Erongo region. The ministry is accusing the company, which has an exclusive prospecting license through its joint venture with Orange River Exploration and Mining, of exceeding the scope of its permit by conducting unauthorized extraction of lithium, the department said in a statement Wednesday.
Mining Weekly
3 days ago
Trade union the National Union of Mineworkers (NUM) has signed a three-year wage agreement with Exxaro Coal Mpumalanga (Matla Colliery), with the basic salaries of employees to increase by 6.5% with effect from July 1, this year. The basic salaries of employees will increase by 7% with effect from July 1, 2025, and by 7% with effect from July 1, 2026.
Mining Weekly
3 days ago
New York- and Toronto-listed Barrick Gold Corporation on Wednesday, December 18, confirmed that its operating entities in Mali, namely Société des Mines de Loulo SA and Société des Mines de Gounkoto SA, have submitted a request for arbitration to the International Centre for the Settlement of Investment Disputes, in accordance with the provisions of their respective Mining Conventions with the State of Mali, to address matters of disagreement regarding the Loulo-Gounkoto complex. This step reflects Barrick’s commitment to adhering to established processes for resolving disputes in a fair and transparent manner.
Mining Weekly
3 days 1 hour ago
ASX-listed Deep Yellow has updated the ore reserve estimate for its Tumas uranium project, in Namibia, reporting an 18% increase to 79.3-million pounds of uranium octoxide (U3O8) at 298 ppm. This is sufficient for a 30-year life-of-mine and includes proved reserves of 28.4-million pounds at 287 ppm U3O8 and probable reserves of 50.9-million pounds at 305 ppm U3O8.
Mining Weekly
3 days 1 hour ago
Logistics group Grindrod has reached throughput of two-million tonnes of coal at its Navitrade terminal, in Richards Bay, with the support and collaboration of State-owned Transnet Port Terminals (TPT). The collective efforts of the TPT and Grindrod teams, as well as TPT’s strong quayside performance, have been instrumental in breaking previous records and positioning the terminal for continued success, Grindrod states.
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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