The World Platinum Investment Council (WPIC) has highlighted the launch of a new platinum alloy named Inoveo Platinum, which it believes has the potential to transform platinum jewellery design and manufacturing. Established by Platinum Guild International (PGI) USA, Inoveo Platinum was codeveloped by mining major Anglo American and materials designer and developer Alloyed following years of research and development.
Review shows Gravelotte becoming profitable within two years
An independent desk-based review of the discounted cash flow (DCF) model for mining company URA Holdings’ Gravelotte emerald mine, in South Africa, shows the potential profitability of the project over a 17-year life-of-mine (LoM). The review, conducted by ACA Howe International, revealed a net present value (NPV) before tax at a 10% discount rate of $22.39-million, with an internal rate of return (IRR) of 76%, indicating that the project would turn profitable from the second year of operations.
Congo sells its own copper from joint ventures for first time
The Democratic Republic of Congo’s (DRC’s) State miner has started selling its share of copper from joint-venture projects for the first time as the country seeks greater control over a metal key to the energy transition. Gecamines holds minority stakes in large mines run by firms such as China’s CMOC Group and Glencore. Until now, the joint ventures themselves have sold all the production. But the State company is taking a more active role in marketing its portion — totaling hundreds of thousands of tons a year – according to people familiar with the matter.
Rio Tinto increases shareholding in emerging graphite miner Sovereign to 19.7%
Diversified mining group Rio Tinto will increase its shareholding in ASX- and Aim-listed Sovereign Metals to 19.76%.
Rio exercised just under 35-million share options to acquire the same number of new fully paid ordinary shares in Sovereign at A$0.535 apiece for proceeds of $18.5-million.
Illegal Implats strike comes to a peaceful close
An illegal work stoppage at the North Shaft of Impala Bafokeng’s Bafokeng Rasimone Platinum Mine (BRPM), in the North West province, has ended without incident, parent company Impala Platinum (Implats) has told Mining Weekly. In the main, the illegal strike action, which began on June 27, involved members of the contractor workforce demanding permanent positions, the company explained. However, Implats was concerned that the strike action would harm jobs more than help them
South Africa seeks to renegotiate coal pact tied to $2.6bn
South Africa is seeking to alter the terms of a landmark agreement under which it promised to cut its reliance on coal in exchange for access to financing. The government of President Cyril Ramaphosa is pushing to renegotiate a deal with Climate Investment Funds (CIF), a group tied to the World Bank, so that it won’t be required to close three coal-fired power plants in the coming years. The plants, owned and operated by Eskom Holdings, are among the country’s biggest polluters, according to government advisers.
Anglo considers options to sell coal assets after Australia fire
Anglo American is considering options to push ahead with a sale of its coal business after an explosion at its flagship Australian mine, including the possibility of selling individual assets or excluding the damaged operation from a potential deal.
The plan to exit coal formed part of a dramatic restructuring program announced earlier this year by Anglo, as the London-based miner was trying to fend off a takeover pursuit by larger rival BHP Group.
High hopes for potentially game-changing technology at platinum group metal mines
Development of an innovative new mining method for narrow tabular steep dipping orebodies has reached an advanced stage after four years of effort. The reef boring machine that has already been put through its preliminary paces is viewed as having the potential to boost platinum group metals (PGM) grades through more selective mining, which then lowers unit costs, enhances safety, streamlines downstream materials – and looks like also conceivably being able to slash the size, risk and environmental impact of tailings storage facilities.
111 employees, 1 130 contractor employees impacted by Sibanye gold operation restructuring
Multinational mining and metals processing group Sibanye-Stillwater has reported that 111 employees and 1 130 contractor employees have been retrenched as a result of the restructuring of its South African gold operations. Sibanye has concluded consultations with stakeholders in terms of Section 189A of the Labour Relations Act.
Lucara appoints mineral resources VP
Diamond miner Lucara Diamond Corp, which owns and operates the Karowe mine, in Botswana, has appointed Dr Lauren Freeman as mineral resources VP, with effective from July 1. In her new role, Freeman will oversee all aspects of mineral resource management for Lucara’s flagship Karowe mine and will contribute to the company’s overall development strategy.