Anglo American investors will keenly scrutinize CEO Duncan Wanblad on Thursday as he gives an update on the London-based miner’s strategy, just months after fighting off a $49-billion takeover bid from bigger rival BHP Group. Delivering first-half earnings results for the first time after rebuffing the world’s No. 1 miner, Wanblad and his team need to convince investors that the strategy to refocus on copper, iron ore and a fertilizer project is on track.
Panellists have mixed views on sustainability of renewable-energy financing
Independent power producer (IPP) developers are currently generating lower returns on renewable-energy projects at about 11%, making it challenging for banks and institutions to provide finance, said Thebe Investment Corporation power and infrastructure GM Johann Bester. He introduced this problem statement to a panel of experts during the Coal & Energy Transition Industry Day on July 23, adding that some banks are not participating in Bid Window 7 of the Renewable Energy Independent Power Producer Procurement Programme because the returns are simply too low.
Production now under way at FQM’s Enterpise nickel mine in Zambia
TSX-listed First Quantum Minerals (FQM) has declared commercial production, as of June 1, at the Enterprise nickel mine, which is 12 km from the company’s Sentinel copper mine in the North-Western province of Zambia. FQM built and commissioned the project, realising commercial operation in a little more than two years.
Minerals Council South Africa supports beneficiation where the economics make sense
Minerals Council South Africa, whose members account for 90% of this country’s annual mineral production by value, supports beneficiation where the economics make sense. “Therefore, we welcome the call for a more conducive policy environment for beneficiation processes,” Minerals Council CEO Mzila Mthenjane stated in a media release to Mining Weekly.
Collaboration, investment pivotal to a successful energy transition
Coal, as a plentiful natural endowment in the country, is poised to remain a pivotal part of the South Africa’s energy mix for the foreseeable future; however, this comes with risks and challenges, and it is imperative that more renewable-energy capacity, new technologies, considerable investment and collaboration are pursued as the country undertakes its energy transition. This was highlighted by Energy Council of South Africa CEO James Mackay, delivering a keynote address during the first day of the Coal & Energy Transition Day event on July 23.
TFR boasts slight improvement but admits much work still to be done
Although there has been a “slight” improvement year-on-year in terms of State-owned Transnet Freight Rail’s (TFR’s) North Corridor performance, the beleaguered rail operator is “not out of the woods yet”, TFR north corridor acting managing executive Theo Johnson has said. “‘Slight improvement’ is a term that I would accept. We’re working on a lot of initiatives [in] the North Corridor, because that’s the biggest corridor in TFR, particularly for the export coal line . . . but we are not out of the woods. We have a long way to go,” he said at the 2024 Coal & Energy Transition Day, in Johannesburg, on July 24.
Peak and Shenghe extend partnership to fund Tanzania REE mine
Australia’s Peak Rare Earths has signed a nonbinding term sheet with Chinese miner Shenghe to support the development and funding of the Ngualla rare earths element (REE) project in Tanzania.
The term sheet contemplates Shenghe acquiring 50% in the entity that holds an effective 84% of the Ngualla project by subscribing for new shares worth A$96-million.
Botswana proposes law for locals to acquire 24% stakes in mines
Botswana is proposing a law that will ask mining companies, once granted a licence, to sell a 24% stake in mines to locals if the government does not exercise its option to acquire the shareholding, a draft bill seen by Reuters on Tuesday shows. The current Mines and Minerals Act allows the government of Botswana, the world’s top diamond producer by value and an emerging copper mining hotspot, to buy a 15% shareholding in any mining project upon being licensed. The existing law gives the government an option to negotiate higher stakes in diamond mines.
Public-private partnership providing powerful performance potential – Kumba Iron Ore
The commitment of South Africa’s new multi-party government to continued reform of this country’s iron-ore logistics was hailed on Tuesday by Kumba Iron Ore. During the presentation of half-year results covered by Mining Weekly, Kumba CEO Mpumi Zikalala spoke of the current public-private partnership model having the potential to create powerful logistics reform. (Also watch attached Creamer Media video.)
Eskom again moots 20 GW clean-energy build programme
Eskom will replace its declining coal capacity with clean-energy options in line with country policy and the Just Energy Transition, Eskom GM for primary energy Dan Mashigo told participants at a conference on coal and the energy transition. Speaking on behalf of Eskom CEO Dan Marokane, Mashigo reported that the State-owned company had a 20 GW-plus generation project pipeline, including 6 GW of solar PV, 4 GW of hybrid wind-PV-battery projects, 4 GW of gas-to-power, 3 GW of nuclear and 3.5 GW of hydro, wind and battery storage.