Zimbabwe’s sole authorized buyer of gold will introduce a system that traces supply of the metal from mines to the market in a bid to stop smuggling. Fidelity Gold Refinery’s initiative will start on Sept. 30, General Manager Peter Magaramombe told miners Monday in the capital, Harare.
Zimbabwe asks miners to ramp up gold output to support ZiG currency
Zimbabwe has asked gold miners across the country to ramp up output to support the ZiG currency launched last month, according to Mines and Mining Development Minister Winston Chitando. “This new currency is anchored on gold production, we have to determine ways to increase production,” Chitando said Monday in a meeting with miners in the capital, Harare.
Kefi announces launch of Tulu Kapi project
Aim-listed gold and copper exploration and development company Kefi has announced that the Tulu Kapi Gold Mines (TKGM) board has formally launched the project. “Our launch timing is fortuitously coinciding with the improved conditions in Ethiopia and all-time high gold prices. Tulu Kapi’s high grade and high process recovery, combined with our project design, has resulted in a robust set of economics for long-term operations which should support further exploration and development along with good opportunities to continue supporting local social development projects such as the already provided local school and water supply. The returns for the capital investors and lenders are attractive and the recent exemptions from exchange controls has rendered the Ethiopian mining investment climate internationally competitive,” Kefi executive chairperson Harry Anagnostaras-Adams said on May 20.
Zimbabwe lithium miners table refinery plans under govt pressure
Four lithium mining companies have tabled plans to produce battery-grade lithium in Zimbabwe, a government official said on Monday. Zimbabwe, Africa’s top producer of lithium, which is used in electric vehicle batteries and to store renewable energy, is prodding miners to refine the mineral locally as it hopes to boost its economy.
Eskom board approves plan to operate Camden, Grootvlei and Hendrina to 2030
The Eskom board has given its approval for the continued operation of the Camden, Grootvlei and Hendrina power stations to 2030 – a departure from the original decommissioning schedule that has reportedly been endorsed by Cabinet. In response to a question posed by Engineering News during an update on the Energy Action Plan, head of generation Bheki Nxumalo said: “We have just recently received board approval to run three of our stations – that is Hendrina, Grootvlei and Camden – up until 2030.”
Platinum-enabled green molecules offering inviting green electron value-add – Nedbank
It’s no longer good enough to just produce electric vehicles (EVs). You have to produce green EVs, and to do that, you need green steel. To get the green steel, you need the green molecules that green hydrogen provides.
Copper hits record above $11 000 on bets that shortage looms
Copper surged to its highest-ever level, extending a powerful, months-long rally driven by financial investors who’ve piled into the market in anticipation of deepening supply shortages.
Futures on the London Metal Exchange jumped more than 4% in early Monday trading, taking copper past $11 000 a ton for the first time. The market has seen many optimistic forecasts, and BHP Group’s wants to buy rival Anglo American chiefly for its copper mines.
Montage Gold proposes new directors
Canada-listed Montage, which is aiming to be a multi-asset African gold producer, has set June 7 as the date for its annual general and special meeting.
Shareholders will vote on a proposed slate of director nominees, comprising six individuals: Ron Hochstein, Richard Clark, Anu Dhir, David Field, Allessandro Bitelli and Martino De Ciccio.
Implats concludes a new empowerment transaction at Impala Rustenburg, Impala Bafokeng
JSE-listed Impala Platinum (Implats) has concluded a series of agreements, facilitating the implementation of a broad-based black economic empowerment (BBBEE) transaction at its Impala Rustenburg and Impala Bafokeng assets. The transaction will result in 13% BBBEE ownership at both Impala Platinum, which owns the Impala Rustenburg and Impala Refineries assets, and Impala Bafokeng through its wholly-owned subsidiary, Impala Bafokeng Resources (IBR).
European Ferrochrome Benchmark price to be discontinued
JSE-listed chrome producer Merafe Resources has advised that the quarterly European Ferrochrome Benchmark (EUBM) price will be discontinued with effect from June. The company will, therefore, no longer publish the EUBM price on the JSE news service.