Traceability is becoming an increasingly important part of the natural diamond industry, specifically in terms of being able to verify provenance or origin. G7 sanctions being applied also make traceability technology more important.
Hummingbird bolstered by strong Mali performance, weathers Guinea challenges
Aim-listed Hummingbird became a multi-asset, multi-jurisdiction gold producer in the full -year to December 31, with its Yanfolila mine, in Mali, performing strongly and meeting guidance, and the group achieving first gold production at Kouroussa mine, in Guinea, despite facing challenges in the ramp-up of mining operations, CEO and interim chairperson Dan Betts avers. Yanfolila met its production guidance, producing 83 965 oz of gold at an all-in sustaining cost of $1 331/oz sold, which has been adjusted under accounting measures.
Volvo to issue world’s first EV battery passport ahead of EU rules
Volvo Cars is launching the world’s first EV battery passport recording the origins of raw materials, components, recycled content and carbon footprint for its flagship EX90 SUV, which is about to start production, the Swedish automaker told Reuters. The passport was developed by Volvo, which is owned by China’s Geely, in partnership with UK startup Circulor, which uses blockchain technology to map supply chains for companies, and took over five years to develop.
Pan African concludes 5-year wage agreement at Barberton Mines, ESOP matures
JSE-listed Pan African Resources has concluded a milestone five-year wage agreement for increases and other conditions of service with the National Union of Mineworkers (NUM), the representative union for Category 4 to 8 bargaining unit employees, at its Barberton Mines operations. The agreed increases for the period June 1, to June 1, 2029, amounts to an average yearly increase of about 5.3% a year over the five-year period.
Deep Yellow selects Ausenco as preferred EPCM contractor for Tumas
ASX-listed Deep Yellow has selected contractor Ausenco Services to deliver detailed engineering and engineering, procurement and construction management (EPCM) services for the company’s flagship Tumas uranium project, in Namibia. It is intended that an EPCM commercial agreements and contracts award for detailed engineering will be finalised over the coming months, following a final investment decision (FID).
GDP decreased by 0.1% in the first quarter
South Africa’s GDP decreased by 0.1% in the first quarter of this year, Statistics South Africa reports. The manufacturing industry decreased by 1.4% in the first quarter, contributing -0.2 of a percentage point to the negative GDP growth. Five of the ten manufacturing divisions reported negative growth rates in the first quarter.
Gem recovers 172.06 ct diamond at Letšeng
London-listed diamond producer Gem Diamonds recovered a 172.06 ct Type II white diamond at its Letšeng mine, in Lesotho, on June 2. This is the seventh diamond greater than 100 ct recovered at the mine this year.
BHP faces a test of patience after $49bn Anglo bid falters
Days after BHP Group failed to secure the $49-billion takeover of smaller rival Anglo American, investors have one message for CEO Mike Henry — keep your cool.
BHP argues it showed restraint in the battle for Anglo, a welcome attribute in a sector notorious for burning billions of dollars of on underwhelming projects and ill-timed acquisitions just over a decade ago. The question now is whether that discipline holds, even with all mining bosses gunning for more volume in copper, the single most coveted metal as the energy transition accelerates.
De Beers ditches man-made diamonds as it looks beyond Anglo
De Beers will ditch a controversial experiment to sell lab grown diamond jewellery, ending a six-year program that broke one of its oldest taboos. While the company long held the technology to make synthetic gems, it always refused to sell them as jewellery, fearing they would undercut the allure of natural stones. Yet as man-made stones gained traction and started competing directly with natural diamonds, De Beers launched its own jewellery brand in 2018.
South Africa’s ARM completes strategic investment in Canada’s Surge Copper
South Africa’s diversified mining company African Rainbow Minerals has secured its 15% strategic shareholding in Surge Copper, a Toronto Stock Exchange-Venture Exchange company that is advancing an emerging critical metals district in British Columbia, Canada. Johannesburg Stock Exchange-listed ARM, headed by Dr Patrice Motsepe, is now a cornerstone investor in Surge, which owns 100% of the emerging Berg project and the longer-term Ootsa asset, which host porphyry copper, molybdenum, gold, and silver deposits.