Execution and preparatory work on key gold projects are on track in South Africa, and early works on the copper project in Australia are to commence, Harmony Gold reported on Tuesday. In South Africa, the Moab Khotsong gold mine extension and the Mine Waste Solutions development are on track, along with preparatory work being under way at Mponeng; in Australia, early works are ready to commence at the Eva copper project.
Clean energy critical minerals can transform sub-Saharan Africa – IMF
Sub-Saharan Africa holds an estimated 30% of the world’s volume of proven critical mineral reserves and managing their use properly as part of the global transition to clean energy has the potential to transform the region, the International Monetary Fund (IMF) states in its ‘Regional Economic Outlook’ report. The global transition to clean energy is set to further heighten demand for critical minerals. Between 2022 and 2050, demand for nickel will double, cobalt triple and lithium rise ten-fold, according to the International Energy Agency.
Anglo American takeover price needs to surpass £30 a share, survey shows
A takeover of Anglo American would need to be pitched at more than £30 ($37.6) a share, a higher price than BHP Group offered last week, according to analysts and traders surveyed by Bloomberg. Anglo American shares are trading above the value of BHP’s rebuffed $39-billion takeover proposal, a sign traders are also expecting a higher bid. The premium has increased since Bloomberg News reported over the weekend that BHP is considering making an improved proposal.
Central banks, record first-quarter over-the-counter purchases support gold demand
Continued exchange-traded fund (ETF) outflows drove gold demand, excluding over-the-counter (OTC) purchases, down by 5% year-on-year in the first quarter of this year to 1 102 t.
However, including sizeable OTC purchases by investors, total gold demand increased by 3% year-on-year to 1 238 t, which the World Gold Council (WGC) says is the strongest first quarter for gold demand since 2016.
NBI launches pragmatic Just Energy Transition Skilling for Employment Programme
With skills having been identified as a key cross-cutting requirement for the Just Energy Transition Implementation Plan (JET-IP), the National Business Initiative (NBI), together with the Presidency’s JET project management unit (JET PMU) and Boston Consulting Group, have launched the JET Skilling for Employment Programme (JET SEP). South Africa has an opportunity to unlock 20% more of its current gross domestic product through green initiatives, which will need between 150 000 and 200 000 direct jobs by 2025, and between 350 000 and 400 000 jobs by 2050, related to solar photovoltaic, wind and battery storage technology installations, NBI CEO and JET SEP steering committee member Shameela Soobramoney pointed out during an April 29 briefing.
MC Mining’s Uitkomst Colliery increases quarterly output following turnaround plan
Run-of-mine (RoM) coal production at MC Mining’s Uitkomst steelmaking and thermal coal mine, in South Africa, increased by 14% year-on-year to 115 909 t for the quarter ended March 31 – the third quarter of its 2024 financial year. ASX-, Aim- and JSE-listed MC Mining, which is being bought out by Goldway Capital Investment, reports that the mine sold 75 590 t of high-grade coal during the quarter.
Critical minerals, food crops at risk of climate disruption by 2050, report shows
More than 70% of critical minerals needed for the transition to net zero emissions will be at risk from climate disruption by 2050, professional services firm PwC says. The firm’s latest report, titled ‘Climate Risks to Nine Key Commodities Report’, shows that the production of copper, cobalt and lithium minerals crucial for the clean energy transition could face significant or higher drought risk by 2050 under a high-emissions scenario. Currently, these critical minerals are only at a 10% risk.
Gem recovers another greater-than-100-ct diamond
London-listed Gem Diamonds has recovered a 118.74 ct Type II white diamond recovered at its 70%-owned Letšeng mine, in Lesotho. This is the fifth diamond weighing more than 100 ct to be recovered at the mine this year.
Sandfire announces maiden resource for new Botswana discovery
Australia-headquartered Sandfire Resources has unveiled potential for new copper and silver discovery in Botswana, with the announcement of a maiden resource estimate for the A1 deposit, about 20 km from the Motheo copper mine, in Botswana. The company’s third-quarter results unveiled a maiden inferred resource estimate of 5.6-million tonnes at 1.3% copper and 10 g/t silver for the A1 deposit.
Implats platinum group metals output up amid robust demand but lacklustre pricing
Platinum group metals (PGMs) mining and marketing company Implats on Tuesday reported higher production in a period characterised by robust demand but lacklustre PGM prices. “Despite continued macroeconomic and geopolitical uncertainty, demand from our contractual customers remains robust, with elevated additional volumes requested via spot sales during the third quarter.