The growth in demand for platinum applications in China is extremely high, making detailed access to the China market hugely advantageous. Providing this detailed access from July 8 to 11 will be the far-reaching Shanghai Platinum Week 2024, which is sandwiched between the London Platinum Week in May and the New York Platinum Week in September.
BHP seeks to break mining’s M&A curse with thorny Anglo deal
The last time BHP Group took a swing at another major miner, it was Rio Tinto back in 2007. That could have been a blockbuster $150-billion takeover, but with metals prices crashing as the financial crisis took hold and with China signaling its discontent, the plan crumbled.
Having confirmed its takeover approach for rival Anglo American on Thursday, executives at the world’s biggest digger will be hoping for a better outcome this time — even with one of the most complex deals the industry has seen in years.
Implats’ proposed restructuring puts 3 900 jobs at risk
JSE-listed Impala Platinum Holdings (Implats) has initiated a Section 189(3) consultation process at its South African operations, signalling thousands of potential job losses. Implats envisages a reduction of about 3 900 positions, constituting a 9% reduction in labour across the Impala Rustenburg, Impala Bafokeng and Marula operations. The corporate office aims for a 30% reduction in head office costs.
Glencore seeks investment opportunities in Nigerian mining sector
ining and trading house Glencore will invest in Nigeria’s mining sector if the government ensures a stable business climate, the company’s CEO said on Thursday during a visit to Nigeria’s minister in charge of solid minerals.
The visit comes as Nigeria is seeking to woo foreign investors to its undeveloped mining sector.
Nene steps down as MC Mining chair
South Africa-focused coal company MC Mining on Friday announced the resignation of Nhlanhla Nene as director and chairperson of the board.
Nene joined the company on April 11, 2022, initially serving as a nonexeuctive director and then as chairperson from April 28, 2022.
Sayurie Naidoo appointed Amplats CFO, executive director
JSE-listed Anglo American Platinum (Amplats) has appointed Sayurie Naidoo as CFO and executive director, with effect from May 1. Naidoo, who has been serving as the acting CFO since Craig Miller assumed the role of CEO in October 2023, brings more than 15 years of experience with Anglo American to her new position.
Anglo snubs BHP’s ‘highly unattractive’ proposal
Diversified miner Anglo American has firmly rebuffed a $38.8-billion proposal from mining heavyweight BHP, with chairperson Stuart Chambers dismissing the nonbinding offer as “highly unattractive”.
In a statement released on Friday, Chambers labelled the BHP proposal as opportunistic and lacking in appreciation for Anglo’s prospects.
Zhaojin Mining ups stake in takeover target Tietto Minerals
China’s Zhaojin Mining Industry has increased its voting power in Tietto Minerals, an exchange filing from the Australian gold miner showed on Friday.
Zhaojin Capital, a unit of Zhaojin Mining, has raised its voting power in Tietto to 23.22% from 16.24%, the filing showed.
Anglo’s stumbles have made it prey for mining’s biggest predator
When former boss Mark Cutifani left Anglo American in mid-April 2022, things had rarely looked better for the century-old miner. Metals prices soared as the world emerged from lockdowns, the company had recently posted its best-ever annual profit and the popular industry veteran was handing over to a trusted lieutenant. Anglo stock hit a record the same day.
Two years later, the company’s reputation is in tatters after a series of missteps sent its value plunging by half. And now industry heavyweight BHP Group is moving in.
Bannerman eyes expansion options for Namibia uranium project
As uranium developer Bannerman Resources progresses with its plans for an initial eight-million-tonne-a-year Etango project, in Namibia, it is casting its gaze towards a broader horizon. The company has started to delve into potential expansion options, aiming for a larger-scale operation in the future.
The ASX-listed junior recently completed a scoping study that looks at the long-term optionality afforded by the large-scale Etango resource. Executive chairperson Brandon Munro highlighted the study’s findings, emphasising a “clear pathway” towards achieving a production capacity of 6.7-million-pound-a-year.