Global coal organisation FutureCoal has suggested that world leaders follow a balanced, pragmatic and responsible approach to energy policy, following an announcement by the Group of Seven (G7) forum that unabated coal will be phased out by 2035. The announcement was made at a G7 Ministerial meeting on climate, energy and environment matters.
Platinum-based green hydrogen emerging as Winter Olympics decarbonisation pillar
Green hydrogen, which is generated with the benefit of the catalysis that platinum group metals (PGMs) provide, is being increasingly highlighted as a pillar of the global decarbonisation transition that is poised to save the world from ruinous climate change. News just out is that steps are being taken to locate a green hydrogen production facility in a location where the 2030 Winter Olympics are to be held in the French Alps.
What’s Anglo worth? For now it’s less than the sum of its parts
As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and executives at rival producers: What’s Anglo American actually worth?
Anglo’s shares are trading about 8% above the price implied by BHP’s initial proposal, which was swiftly and firmly rejected, and Bloomberg reported on the weekend that the larger firm was considering an improved offer.
Value creation, exploration, Harmony Gold projects make headlines
Mining Weekly Editor Martin Creamer discusses Barrick’s recently revealed first quarter results where discovery and development were punted as the true drivers of value creation in mining; South Africa’s struggling economy, which could benefit relatively quickly from getting exploration going at pace; and Harmony Gold’s key South African gold projects and its Australian copper project.
West Wits to raise A$1.4m
To strengthen its balance sheet and fund its ongoing operations, ASX-listed West Wits Mining has secured firm commitments from unrelated existing and new sophisticated and professional investors to raise A$1.4-million, before costs, through a share placement. It intends to issue about 107.69-million fully paid ordinary shares at A$0.013 a piece.
Zimbabwe’s sole nickel mine placed under administration
Zimbabwe’s only operating nickel mine was on Thursday placed under administration, according to a government notice, seven months after halting production due to equipment failure and low prices. Zimbabwe’s government owns 70% of Bindura Nickel Corporation’s Trojan Nickel Mine which employs about 1 100 people according to Bindura’s latest annual report.
Tirupati offers to meet with shareholders who sought the removal of three directors
Specialist graphite producer Tirupati Graphite says its directors have offered to meet with shareholders who have requested a general meeting be held to allow shareholders to vote on the removal of three directors from the company’s board. The company, which has operations in Madagascar and Mozambique and is listed in London, on April 26 reported having received a letter from Walpole St Andrews Nominees, on behalf of a group of underlying shareholders holding, in aggregate, about 5.8% of Tirupati’s issued ordinary share capital.
TFR ramps up coal trains to 28 a week
State-owned Transnet Freight Rail (TFR) has embarked on a ramp up of GF-class coal trains from 21 a week to 28 a week, supported by an injection of locomotives. This is part of Transnet’s recovery plan initiatives, and a commitment made to the City of uMhlathuze leadership and other stakeholders during the Stakeholder Collaboration on Truck Congestion Solutions meeting held in the Port of Richards Bay, in KwaZulu-Natal, on November 21 last year.
Epiroc acquires South African rock drilling parts maker Weco
Swedish equipment manufacturer Epiroc has successfully acquired Weco, a South African manufacturer of precision-engineered rock drilling parts.
Weco has been operating in Krugersdorp, Gauteng, for more than 40 years, serving mainly underground mining customers in the Southern Africa region.
Anglo American boosts London’s FTSE 100 to near record high
Britain’s FTSE 100 opened near record highs on Friday, boosted by Anglo American after Reuters reported Glencore is exploring an approach for the miner, while Diageo advanced after naming a new chief financial officer. The blue-chip FTSE 100 was up 0.3% by 0709 GMT, a whisker away from a record high, and is set for a second straight week of gains.