Junior mining company Minbos has announced a nonbinding memorandum of understanding (MoU) with South Africa-based Foskor for a potential supply agreement from its Angola mine. Foskor currently sources phosphate rock for its Richards Bay phosphoric acid-based fertiliser plant from its mine in Phalaborwa, but Minbos says the company is considering supplementing supply with alternative sources.
Orion to undertake placement, share purchase plan
ASX-listed Orion Minerals has secured firm commitments for a placement of new ordinary shares to sophisticated and professional investors to raise A$7.7-million, or R92.3-million.
About 513-million shares will be issued at a price of A$0.01, or R0.18, apiece.
Technology leads to ‘exciting times’ for geoscientists
With the introduction of various technologies becoming more prevalent in mining, Council for Geoscience (CGS) CEO Mosa Mabuza has said the Fourth Industrial Revolution and disruptive technologies are finding expression in geosciences and its applications, describing this as “exciting times” for geoscientists. Speaking in a panel titled ‘The role of technology and skills development in unlocking Africa’s potential’ – held on the second day of this year’s London Indaba on June 26 – Mabuza explained that the conventional approach to geomapping had limitations.
Separation of energy portfolio and Ramokgopa’s appointment praised amid rising …
The decision to establish a separate energy portfolio with the African National Congress’s Dr Kgosientsho Ramokgopa as Minister and the Democratic Alliance’s Samantha Graham as Deputy Minister has been welcomed by stakeholders and commentators alike. There are already warnings, however, that the success of the new Electricity and Energy Ministry will be judged not only on ensuring a permanent end to loadshedding but on whether it is able to shepherd South Africa, justly, through the unfolding energy transition in a way that addresses not only the immediate threats to security of supply and affordability but also long-term sustainability and competitiveness.
Kangankunde feasibility study supports robust rare earths project
Rare earths mining and development company Lindian Resources has announced the completion of a feasibility study on Stage 1 of its Kangankunde rare earths project in Malawi. The study examined Stage 1 of the project’s development, which includes mining operations, a mineral processing plant and necessary support infrastructure.
Hedge funds are hoarding cobalt amid battery metal slump
Hedge funds including Anchorage Capital Advisors and Squarepoint Capital have been building positions in cobalt by buying up physical material, as tumbling spot prices and a more liquid futures market create new trading opportunities in the battery metal.
Cobalt is a relatively tiny and specialized market compared with commodities like copper or oil, and prices have dropped to the lowest in more than seven years as the market is flooded with production from the Democratic Republic of Congo and Indonesia.
Copper supply gets a boost as Chile shows signs of recovery
Copper production in Chile, the world’s biggest supplier of the wiring metal, is showing signs of recovering from 20-year lows.
Output in May was the highest this year, rising more than 8% compared with both April and the year earlier, according to data released Friday by the country’s bureau of statistics.
Rainbow signs royalty, equity agreement with Ecora, raising $10m for Phalaborwa studies
London-listed Rainbow Rare Earths has signed a share placing and royalty agreement with fellow-listed Ecora Resources, raising $10-million for Rainbow to proceed with studies at the Phalaborwa rare earths project.
Rainbow says the agreement endorses its 85%-owned Phalaborwa project, in South Africa’s Limpopo province, as a stand-out opportunity. The project is expected to be one of the highest-margin rare earth projects globally.
Ransom resigns from Perseus board due to ill health
David Ransom, nonexecutive, independent director of Perseus Mining, has tendered his resignation effective June 30, citing health reasons.
Perseus, an Australian company operating three gold mines in Africa, announced Ranson’s departure in a statement on Monday.
Sierra Rutile completes initial safety review
ASX-listed Sierra Rutile has announced the completion of its initial safety risk review of Area 1, leading to the resumption of operations at the Sierra Leone mine after a temporary suspension.
The company suspended mining at a part of Area 1 two weeks ago, following the death of a worker.