Mining Weekly

London-listed Gem Diamonds has announced a revised life-of-mine plan for its Letšeng mine, in Lesotho, as well as a two-year extension to the group’s revolving credit facilities.  The revised plan includes approval of steeper slope design for the final openpit cutback of the satellite pit.

Global investor sentiment towards South Africa improved significantly in 2024, Exxaro FD Riaan Koppeschaar reported on Tuesday, December 3. In a pre-close message for the financial year ending December 31, Koppeschaar highlighted the expectation of further positive improvements in investment sentiment towards South Africa on the back of factors including energy and logistical advancement.

Diversified miner South32 on Tuesday announced the appointment of two new independent non-executive directors, Stephen Pearce and Mandlesilo (Mandla) Msimang, to its board. Both appointees would officially join the board on February 1, 2025, and would seek election by shareholders at the company’s 2025 annual general meeting.

Diversified miner Anglo American has completed the transaction to incorporate the Serpentina iron-ore resource into its Minas-Rio operation in Brazil, the company announced on Monday. The deal, originally disclosed on February, involves integrating Vale’s Serpentina into the existing Minas-Rio operation, a move that is designed to unlock synergies and boost production.

Canadian mining company GoviEx Uranium states in its latest ‘Sustainability 2024’ report that it is taking a precautionary approach to environment and social risks, devising strategies that effectively mitigate or minimise risks related to environment, social and governance (ESG). As the company develops the Muntanga uranium mine, in Zambia, towards construction within the next one to two years, GoviEx says climate-related risks and opportunities have influenced the company’s strategy and financial planning from the earliest stages of development.

The outlook for platinum group metals (PGM) demand has been uplifted by a series of new developments in the field of platinum-catalysed green hydrogen generation as well as concomitant fuel cell buildouts that are green-hydrogen fed. On top of South Korea setting out to construct the world’s largest hydrogen fuel cell power plant in the coastal city of Gyeongju, Sinopec inaugurating Hong Kong's first public hydrogen refuelling station, and Metrans testing of ...

London-listed Aterian has reported more positive results on the recent fieldwork conducted on its Tata copper project, in the western Anti-Atlas Mountains of Morocco, with additional copper discoveries, chairperson Charles Bray says in an operational update. Copper mineralisation is extended within two mineralised stratigraphic horizons and is visible on the surface.

De Beers has cut diamond prices by more than 10% across the board as the world’s biggest producer abandons attempts to put a floor under the slumping market. The diamond industry has been struck by one of its deepest and most prolonged slumps in decades. What started as a post-pandemic slowdown has spiraled as inflation hit customer purchases, before a collapse in China’s luxury market further eroded demand. Man-made diamonds have also continued to undermine prices.

Zinc could see more sharp price swings as growing tightness along the metal’s supply chain leaves buyers exposed to sudden changes in availability. The material used to galvanize steel had a turbulent past week on the London Metal Exchange, finishing nearly 5% higher despite a 2.5% slump on Thursday. The spike was fueled by the withdrawal of huge volumes from LME warehouses, which stoked speculation of a potential squeeze on short-position holders.

The business rescue practitioners (BRPs) of Mineral Sands Resources (MSR) are seeking funding solutions following an urgent claim from the Tormin mine’s post commencement funding (PCF) provider. Operations at the mine, in the Western Cape, will therefore be temporarily suspended. An action plan has been put in place to ensure the continued health and safety at the operation during the suspension, until such time as an alternative funder has been sourced.

Aim- and TSX-V-listed Thor Explorations has announced further positive results from the initial proof-of-concept drilling programme that targets the down-plunge potential beneath the current Segilola openpit extents at its wholly-owned Segilola gold mine, in Nigeria. This programme targeted projections of the Segilola orebody below the current openpit design and has been successful in intersecting high-grade mineralisation in the majority of the holes drilled below the pit, president and CEO Segun Lawson highlights.

Gold eased, pressured by a rising US dollar after President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency. Bullion traded around $2 635 an ounce in early Asia hours on Monday after declining almost 3% last week. Trump’s warning buoyed the dollar, with a stronger greenback making the precious metal more expensive for buyers in other currencies.

Australia-based uranium producer Paladin Energy has warned of a significant supply gap in the global uranium market, forecasting a shortfall of more than 50-million pounds a year of uranium over the next decade. In his speech at the company's AGM, Paladin chairperson Cliff Lawrenson highlighted the lack of investment in new uranium production amid growing nuclear energy support.

Investment in downstream beneficiation is starting to pay dividends and to show real commercial results, says Tharisa CEO Phoevos Pouroulis. “We sold our first commercial chrome alloy to an industrial user in South Africa and this really is the first step in a journey that sees us diversifying our product mix and allowing us to beneficiate our product in a unique proprietary way that opens up new markets, for our chrome business,” Pouroulis adds.

Metallurgy and process engineering company Multotec recently completed construction of its new R100-million screening media factory to consolidate its South African injection-moulded polyurethane screening media factory sites into a single, larger facility, to enhance capacity and increase efficiency. The new factory is situated on a 7 068 m² property with 4 360 m² under roof, in close proximity to Multotec’s current Forge road main campus in Spartan, Kempton Park, Gauteng.

Gold miner Harmony Gold Mining Company reports that an employee has died following a fall-of-ground incident at the Moab Khotsong mine, near Orkney, in the Nort West, on November 28. “We wish to extend our deepest condolences to the employee’s family, friends and colleagues during this difficult time. Our commitment to our safety strategy through our proactive safety culture remains our priority,” says Harmony CEO Peter Steenkamp.

London- and Australia-listed Resolute Mining has made a second settlement payment of about $50-million to the government of Mali from existing cash reserves. The company notes that the remaining payment of about $30-million is expected to be paid by the end of this year, from existing liquidity sources.

South Africa’s Department of Mineral Resources and Energy has approved the environmental authorisation for one of two mining permit applications submitted by Aim-listed Botswana Diamonds on the Thorny River project, in Limpopo. The diamond exploration company notes that, following further community consultation, a mining permit should be granted within the next six weeks.   Two mining permits were applied for in late 2022 on the Thorny River project following a comprehensive exploration programme, which included ground geophysics, drilling and bulk sampling and a positive mine planning exercise carried out by an independent consultant.    Thorny River is 6 km from Marsfontein where a recent proof of concept operation was concluded.

The International Atomic Energy Agency (IAEA) has announced that it is partnering with Anglo American, and in particular the latter’s Crop Nutrients business, to undertake research intended to counter soil salinisation. Or, in other words, to prevent the salt content of soil increasing, to halt it where it is occurring, and to reverse it. This research will make use of nuclear science and technologies. “To tackle global hunger and increase food security, we need science, we need innovation, and we need to make the most of all available tools, including nuclear techniques,” highlighted IAEA director-general Rafael Mariano Grossi. “We also need everybody engaged, especially the private sector. This partnership with Anglo American will help us to maximise impact and scale up interventions.”

While State-owned electricity utility Eskom produces more than 34-million tons of coal ash a year, only 7% to 10% is beneficiated, with the remaining material accumulating in dumps scattered across Gauteng, the Free State and Mpumalanga, where it poses a significant environmental threat. The University of the Western Cape Department of Chemistry’s Professor Leslie Petrik has long worked on proving that the residue from coal combustion can be used cost effectively to treat acid mine drainage (AMD), manufacture geopolymer-based cement, roof tiles, bricks and paving stones, as well as lintels, fire-retardant panels and insulation material.