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Richards Bay Multipurpose Terminal takes delivery of cargo handling equipment thmess

Mining Weekly 3 days 6 hours ago
The Richards Bay Multipurpose Terminal (MPT) has taken delivery of new cargo handling equipment, aiding the loading of export coal, magnetite, chrome and pig iron aboard calling Cape-sized vessels. The terminal is leasing 75 dumpers and 35 payloaders for 12 months – a temporary measure after an unsuccessful bidder challenged the awarding of a new contract in court last year.

Tharisa to undertake $5m share buyback programmethmess

Mining Weekly 3 days 6 hours ago
JSE- and LSE-listed platinum group metals (PGMs) and chrome miner Tharisa has appointed UK investment bank Peel Hunt to manage a $5-million share buyback programme on its behalf. The Tharisa board believes the company’s shares are trading at a significant discount, having been negatively impacted by the PGMs commodity price environment, while not reflecting the strong co-product contribution from its chrome sales.

Kinetiko’s deepest core hole to date reveals promising resultsthmess

Mining Weekly 3 days 6 hours ago
ASX-listed Kinetiko Energy, which is conducting onshore gas exploration in Mpumalanga, South Africa, has completed its deepest core hole to date. “Following our previous announcement indicating further exploration success in Block ER270 . . . 270-08C reached a terminal depth (TD) of 745 m when we broke through the Dwyka tillites and encountered granitic basement. We managed to log the entire stratigraphy to TD and are very encouraged by the results,” Kinetiko CEO Nick de Blocq said on March 26.

Harmony’s Eva copper mine project in Australia granted special ‘prescribed’ status thmess

Mining Weekly 4 days ago
The copper mining project that Johannesburg Stock Exchange-listed Harmony Gold is developing in Australia has been granted special ‘prescribed project’ status in recognition of its social and economic significance. Harmony, which acquired Eva in December 2022, is currently updating a feasibility study to underpin its proposed development, which is located on the traditional lands of the Kalkadoon People, 75 km north of Cloncurry and 95 km northeast of Mount Isa.

NTCSA unbundling secures lender consent, Ramokgopa confirmsthmess

Mining Weekly 4 days 5 hours ago
Electricity Minister Kgosientsho Ramokgopa reports that Eskom’s eight “lender groups” have given their consent to the establishment of the National Transmission Company South Africa (NTCSA) as a separate subsidiary under Eskom Holdings. Bondholder consent was one of several key approvals required ahead of the operationalisation of the NTCSA, officially scheduled for April 1, alongside the appointment of an independent board and licensing approvals from the regulator.

Ferrochrome benchmark price settles higherthmess

Mining Weekly 4 days 6 hours ago
The European benchmark ferrochrome price for the second quarter of this year has been settled at $1.52/lb, 5.6% up on the first three months of 2024, Merafe Resources informed shareholders on Monday, March 25. Ferrochrome is a prime ingredient of stainless steel and most of the ferrochrome produced in South Africa is consumed by China, which is the world’s biggest producer of stainless steel

Botswana Diamonds achieves several positive developments in 2023 thmess

Mining Weekly 4 days 6 hours ago
Diamond miner Botswana Diamonds chairperson John Teeling has outlined some positive developments achieved by the company during 2023, including that a gravity survey has discovered a high-grade anomaly similar in size or larger than the KX36 high-grade kimberlite pipe in the Kalahari. In an unaudited interim statement and financial results for the six months ended December 31, 2023, he also highlights positive progress on the awarding of the Thorny River mining permits, in South Africa, as well as renewed interest in the Ghaghoo diamond mine, in Botswana.

Mining sector meets target to reduce TB levels to below national average thmess

Mining Weekly 4 days 7 hours ago
The South African mining industry has made significant inroads into addressing tuberculosis (TB) since 2017 and has met its ten-year target to reduce the incidence rate among mineworkers to below national levels, industry body the Minerals Council South Africa says. In 2014, the Mine Health and Safety Council set the milestone of achieving a TB incidence rate for the sector of below the national average by 2024.

Coal is preparing for a long goodbye thmess

Mining Weekly 4 days 12 hours ago
More than two years after climate negotiators first attempted to consign coal to history, the dirtiest fossil fuel is having a moment. Thanks to a combination of China’s energy insecurity — pushing Beijing back to trusted power sources — plus rising Indian demand, the continued fallout from the war in Ukraine and faltering international programs to wean developing economies off fossil fuels, coal is proving remarkably resilient. Output hit a record last year, and producers are preparing for a future where they will be required for decades yet to balance renewable energy.

Newmont’s Akyem Ghana gold mine draws Chinese interestthmess

Mining Weekly 4 days 23 hours ago
Newmont Corp. has kicked off the sale of its Akyem gold mine in Ghana, which is attracting interest from potential bidders including Chinese producers amid soaring prices for the metal, people with knowledge of the matter said. Newmont is working with Citigroup Inc. on the disposal and they have started sounding out prospective suitors, according to the people. Shandong Gold Mining Co. and Zijin Mining Group Co. are among companies showing early interest in the asset, the people said, asking not to be identified because the information is private.

Congo overtakes Peru on copper output, still behind on exportsthmess

Mining Weekly 4 days 23 hours ago
The Democratic Republic of the Congo overtook Peru as the world's second largest copper producer in 2023, though it still lags the South American country in exports, official data from both nations show. Congo produced about 2.84 million tons of copper last year, the country's central bank reported. Peru's output was 2.76 million tons, the Andean country's mining and energy ministry said.

Gemfields swings to a loss on PGM investment writedown, but gemstone business flourishes thmess

Mining Weekly 1 week ago
Gemstone miner Gemfields has recorded its second highest yearly revenues in 2023, on the back of record prices being paid for its rough coloured gemstones sold at auction. Gemfields CEO Sean Gilbertson notes, however, that production of premium rough gemstones has been weaker at its two key operating assets – the Kagem emerald mine in Zambia, and Montepuez Ruby Mining (MRM) in Mozambique – compared with 2022.

Tormin mine exploring alternative water arrangements following damage to dam thmess

Mining Weekly 1 week ago
Management at the Tormin mineral sands mine in South Africa, held by ASX-listed Mineral Commodities’ 50%-owned subsidiary Mineral Sands Resources (MSR), have reported that there has been damage to the liner of the main seawater storage dam that provides water for processing. While the investigation, inspection and assessment of repairs are being conducted, alternative water arrangements are being planned to allow production to continue and with a focus on minimising the impact on volumes.

More investors push Glencore to keep coal post Teck dealthmess

Mining Weekly 1 week ago
A growing group of Glencore investors are keen for it to keep mining coal instead of spinning out the soon-to-be enlarged unit, with one eye on its financial outlook and another on the environmental benefits of keeping the fuel in-house. Echoing a demand last week by activist Tribeca Investment Partners, investors said the polluting fossil fuel would be a lucrative option - for a decade or two at least - even as it is phased out in favour of renewable energy.

Unprecedented crime levels threaten mining’s sustainabilitythmess

Mining Weekly 1 week ago
Amid South Africa’s ticking of all the boxes for a fertile environment for organised crime – economic inequality, rampant crime, widespread government corruption and poorly performing State organs – addressing security is a key part of ensuring the sustainability of the mining industry. During a webinar hosted by Creamer Media on February 28, experts unpacked the evolution of security risks for mines over the past 30 years, with mining and allied security professional Nash Lutchman averring that mining companies “are operating in an unprecedented safety risk environment”.

UAE conglomerate seeks to gatecrash China's JCHX Zambian copper dealthmess

Mining Weekly 1 week ago
A unit of International Holding Company IHC.AD, Abu Dhabi's most valuable company, is interested in acquiring Zambia's Lubambe Copper Mine, an asset that China's JHCX Mining has already agreed to buy, three sources familiar with the details told Reuters. International Resources Holding recently told EMR Capital that it is interested in bidding for the private equity manager's 80% stake in the Lubambe copper project, which is up for sale, a development that may complicate a sale process that's already underway, two of the sources said.
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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