Mining Weekly

Aluminum Corp of China said it sees “relatively high” risks to supplies of bauxite from Guinea, highlighting its growing dependence on a single country for the raw material. The West African nation last year provided 70% of China’s imports of bauxite, which is used to produce aluminum. That’s left Chalco, as the company is known, highly exposed to disruptions there.

Global mining powerhouse BHP on Thursday announced that Don Lindsay, the former CEO of Teck Resources, would join its board on May 1 as a nonexecutive director. With a 17-year tenure at the helm of Teck, Lindsay brings to BHP a wealth of experience in global resource development, growth strategies and a steadfast commitment to community health, safety and education, said chairperson Ken MacKenzie in a statement.

Northern Cape copper company Copper 360 announced on Wednesday that it has signed a memorandum of understanding (MOU) with DRDGOLD’s Far West Gold Recoveries tailings retreatment subsidiary to conduct a due diligence on its copper tailings dams to assess their economic copper recovery viability. During the due diligence period, Far West Gold Recoveries will, through an independent expert, determine the total tonnage of tailings material by Lider survey applying a density of 1.4 tonnes per cubic metre.

Coal phase-out campaign the Life After Coal Campaign, in its comments on the draft Integrated Resource Plan (IRP) 2023, said the plan has fundamental flaws and expressed skepticism in the plan's ability to ensure cost-effective electricity supply, energy security and to uphold the Constitutional right to live in a healthy environment. “The IRP 2023 does not, in real terms, commit to a least-cost pathway and instead opts for expensive technology and fuel choices. This will perpetuate energy poverty, and make essential services for poor communities even more unaffordable and impact on local economies,” said environmental justice organisation Earthlife Africa director Makoma Lekalakala.

Aim-listed phosphate producer and developer Kropz’s subsidiary Kropz Elandsfontein has secured a R170-million loan facility from ARC Fund. The loan will be used by Kropz Elandsfontein to fund its cash flow and operational expenditure needs.

Anglo American subsidiary Kumba Iron Ore’s Sishen and Kolomela mines, in South Africa, have been assessed against the Initiative for Responsible Mining Assurance’s (IRMA’s) comprehensive mining standard, achieving the IRMA 75 level of performance. The IRMA 75 achievement level means that environmental resources management certification and verification confirmed that the operations at least substantially met all 40 critical requirements of the IRMA Standard, as well as at least 75% of the standard’s criteria in each of the four principle areas: social responsibility, environmental responsibility, business integrity and planning for positive legacies.

Tanzanian graphite developer Black Rock Mining on Wednesday announced a well-supported A$0.065-a-share placement that raised A$10-million. Proceeds would be used for final Mahenge preparations ahead of the final investment decision (FID).

Australia-listed exploration comapny Arrow Minerals has completed the accelerated acquisition of the remaining 66.7% interest in Amalgamated Minerals. The company now has full legal and beneficial ownership of its flagship Simandou North iron project, in Guinea.

Mechanical cutting, in which huge progress is being made, is going to be key for the mining industry going forward, Master Drilling CEO Danie Pretorius emphasised on Tuesday, when his Johannesburg Stock Exchange-listed company presented a dividend-yielding set of 2023 full-year results that included the best ever safety performance and the biggest ever order book. “The industry can benefit big time from what we've already achieved in the field of mechanical cutting,” Pretorius highlighted in a Zoom interview with Mining Weekly while reporting record-high revenue of $242.8-million and an order book that topped the $288-million mark. (Also watch attached Creamer Media video.)

After having multiple subsidiaries experience financial difficulty in recent years, with some having entered into business rescue in recent months, JSE-listed Salungano Group expects to report a headline loss a share of between 50.65c and 57.65c for the year ended March 31, 2023. This compares with headline earnings a share of 6.13c reported in the prior financial year.

Transnet Freight Rail’s (TFR’s) North Corridor accomplished the delivery of 1.41-million tonnes last week, marking the most substantial weekly performance in terms of volume for the current financial year. This includes the transport of 1.18-million tonnes of export coal to the Richards Bay Coal Terminal and the running of 11 chrome trains.

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.

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.

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.

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.

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.

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

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.

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.

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.