AQSE-listed Marula Mining has signed a sales and offtake agreement with UK-based commodities trading group Fujax for manganese ore production from the Larisoro manganese mine in Samburu, Kenya. The agreement is for an initial 2 000 t of manganese ore, which is to be delivered by no later than July 1.
Gemfields earns $35m from May auction of higher-quality emeralds
Miner and coloured gemstones marketer Gemfields Group earned total revenue of $35-million from an auction of higher-quality rough emeralds held from May 13 to 30. The rough emeralds sold were extracted by Kagem, which is 75%-owned by Gemfields and 25% by the Industrial Development Corporation of Zambia.
Unpacking the conditions for meeting burgeoning copper demand
With copper demand expected to increase from 28.3-million tonnes in 2020 to 41-million tonnes by 2040 at a compound yearly growth rate of 1.85%, and many regions gearing up supply chains for critical metals, JSE- and ASX-listed Orion Minerals CEO and MD Errol Smart says it will be the responsible mining companies that will rise to the demand challenge and be competitive in the market. Copper mining sites globally have “less than satisfactory” environmental and social management practices, but funders and offtakers are increasingly supporting mining companies with solid environmental, social and governance (ESG) credentials, he tells Engineering News & Mining Weekly.
Anglo starts formal divestment of coal, nickel after rebuffing BHP, CEO says
Anglo American is starting a formal process to sell its coal assets and explore options for its nickel operations after fending off a takeover threat from bigger rival BHP Group, CEO Duncan Wanblad said on Thursday. The Anglo CEO faces pressure from investors to boost the company’s value by improving operational efficiencies and speeding up the sale of assets after rejecting three takeover proposals from the world No. 1 miner, which on Wednesday said it had no choice but to walk out.
Commission approves Southern Point Resources’ Mokopane takeover from Bushveld
The Competition Commission has approved the acquisition by Southern Point Resources (SPR) Fund I of Mokopane, the holding company for a mining right in South Africa’s Limpopo province.
SPR Fund I was established as an investment fund by the SPR group for mining projects in Southern Africa, particularly green metals and transition metals.
Botswana flags synthetic gem threat ahead of $6bn diamond project launch
Botswana’s President Mokgweetsi Masisi on Wednesday called synthetic gems a threat to the country’s economic lifeblood, as the government readies to launch a $6-billion project to extend the life of its flagship Jwaneng diamond mine.
The natural diamond market has struggled in the past two years due to rising consumer demand for cheaper lab-grown diamonds, coupled with global macroeconomic volatility.
Gem Diamonds recovers sixth large diamond from Letšeng this year
London-listed Gem Diamonds has recovered a 212.49 ct Type II white diamond from its 70%-owned Letšeng mine, in Lesotho.
This is the sixth diamond weighing more than 100 ct to be recovered at the mine this year.
Tsolido signs agreement with Red Cloud for liquidity services
TSX-V-listed Tsodilo Resources has retained Toronto-based financial services company Red Cloud Securities to provide liquidity services to the company. Red Cloud helps mineral exploration and mining companies to access capital markets and enhance their corporate profile. Red Cloud will trade Tsodilo shares on the TSX-V for the purposes of maintaining a reasonable market and improving the liquidity of Tsodilo’s common shares.
Endeavour’s Côte d’Ivoire project ahead of schedule
London- and Toronto-listed Endeavour Mining announces that wet commissioning activities are now under way at the Lafigué project, in Côte d’Ivoire. The project is on budget, with construction now 94% complete, and the first gold pour is expected to take place in late June, a quarter ahead of schedule.
Sibanye clinches yet another renewable energy purchase agreement
Johannesburg- and New York-listed Sibanye-Stillwater has concluded its fourth renewable energy power purchase agreement (PPA). The green metals and gold producer has reached financial close for an additional 140 MW wind energy project, the Umsinde Emoyeni Wind Farm, located on the border between the Northern Cape and the Western Cape, near Murraysburg.