Coal mining company Liberty Coal has confirmed that it will be extending the deadline for former Optimum Coal Mine (OCM) employees to submit their applications for reemployment. The company said on June 24 that this was part of its prioritisation of the reemployment of former employees who were retrenched by OCM, which remains in business rescue.
Kore’s share price falls amid ongoing discussions on EPC
Johannesburg- and London-listed Kore Potash’s share price on the JSE and the LSE fell by more than 20% on June 24, after the company reported ongoing discussions with regard to the engineering, procurement and construction (EPC) proposal and draft EPC contract with PowerChina International Group. The potash development company revealed that further important issues had been raised about completion and performance guarantee tests, which now needed to be further discussed and agreed on with PowerChina.
MC Mining names interim MD, CEO
Coal miner MC Mining has appointed nonexecutive director Christine He interim MD and CEO, with effect from July 1. This follows the earlier announcement that Godfrey Gomwe has resigned as MD and CEO of JSE-, Aim- and ASX-listed MC Mining, with effect from June 30.
Galileo to undertake Phase 3 drill programme at Zambian project
Aim-listed Galileo Resources has decided to undertake a Phase 3 drill programme to validate its current view that near-surface copper/gold mineralisation occurs along the Shinganda fault splay over a strike length of potentially more than 4 km, offering scope for the development of a preliminary mineral resource at the Shinganda copper/gold project, in Zambia. The Phase 1 and 2 drill programmes have confirmed the presence of copper/gold mineralisation associated with major regional and more localised structures.
Drilling programme at Orion’s Okiep project confirms high-grade potential
JSE- and ASX-listed Orion Minerals has reported further “outstanding” assay results from the confirmation diamond drilling programme in the Flat Mines area at its Okiep copper project (OCP), in the Northern Cape, South Africa. The latest results add further momentum to Orion’s development strategy for the OCP, building on the initial results reported on April 22 and confirming the geology and endowment of the Flat Mines area, the company notes in a statement.
Gibb River enters Namibia uranium sector
Australian company Gibb River Diamonds has acquired two uranium projects in Namibia, comprising six exclusive prospecting licences covering 1 828 km2.
The company, which is also developing the Ellendale diamond project and Edjudina gold project in Australia, acquired projects in the Erongo and Kunene districts of Namibia.
Heraeus acquires Canadian recycling firm McCol Metals
Processing and recycling group Heraeus Precious Metals has announced the acquisition of McCol Metals, a specialised company based in St. John’s, Newfoundland and Labrador, Canada.
The acquisition has seen Heraeus obtaining full ownership of McCol, underscores its focus on expanding its capabilities in recycling precious metals.
Paladin to buy Fission Uranium for C$1.14bn
Uranium mining company Paladin Energy on Monday announced the acquisition of Fission Uranium for C1.14-billion, creating a global uranium leader with assets in Canada, Namibia and Australia.
Paladin CEO Ian Purdy said both sets of shareholders would benefit from the increased scale of the enlarged company, with a combined mineral resource representing one of the biggest among pure-play uranium companies globally.
Funds to retrench, magnifying copper’s losses
Sluggish demand in top consumer China and soaring inventories mean funds are likely to retreat further from the copper market, analysts say, adding more pressure to prices which have dropped around 12% since hitting record highs last month. However, funds will return as shortages of the metal created by significant demand growth from the electric vehicle sector and new applications such as data centres start to appear.
Lithium’s ongoing slump has traders searching for recovery signs
Lithium industry watchers hoping the battery metal was poised to rebound from an epic slump have been hit by the realisation prices have fallen again this month, with inventories piling up as electric vehicle demand signals stay gloomy.
Spot prices of lithium carbonate in China have slid to the lowest since August 2021 and the most-active futures on the Guangzhou exchange have lost 12% so far this month. In top producer Albemarle’s latest auction on June 19, the winning bid was down 6.9% from the previous sale on June 5.