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.
Century-old Kipushi mine starts up again after 31-year hiatus
Dual-listed Ivanhoe Mines has announced the completion of construction and the restart of the Kipushi zinc/copper/lead/germanium mine, in the Democratic Republic of the Congo (DRC), 100 years after it first started operations, and 31 years since it was placed on care and maintenance. First feed of ore into the new concentrator was achieved on May 31, with first concentrate subsequently produced on June 14.
WGC says gold to remain rangebound for the remainder of this year following strong first half
According a mid-year outlook report released by the World Gold Council (WGC) on July 2, gold has performed well so far this year, with a 12% rise in returns year-to-date and outpacing most major asset classes. Gold has so far benefitted from continued central bank buying, Asian investment flows, resilient consumer demand, and a steady drumbeat of geopolitical uncertainty. However, the key question in investors’ minds going forward is whether gold’s momentum can continue or if it’s running out of steam, the WGC muses.
Endeavour achieves first gold pour at Lafigué
LSE-, TSX- and OTCQX-listed Endeavour Mining made its first gold pour from the Lafigué mine, in Côte d’Ivoire, on June 28, marking the delivery of the project’s construction on budget and a quarter ahead of schedule. “Alongside the first gold pour at the Sabodala-Massawa BIOX expansion that we achieved in April, [this] marks the successful completion of the recent phase of investment and growth that we started in the second quarter of 2022.
DR Congo’s Gecamines opposes sale of cobalt miner Chemaf
Democratic Republic of Congo’s State miner Gecamines said on Monday it would not approve the sale of cobalt miner Chemaf and its Congolese assets to Chinese miner Norin Mining. Gecamines leases these assets to Chemaf, which on Thursday said it had agreed a sale to a unit of Chinese State-backed China North Industries Corp (Norinco) to settle debts largely funded by Chemaf’s long-time partner, commodities trader Trafigura.
Minerals Council reiterates mining industry priorities as it welcomed Mantashe’s reappointment
Industry body the Minerals Council South Africa has welcomed the reappointment of Gwede Mantashe as Mineral and Petroleum Resources Minister, with this Ministry having been separated from that of Electricity and Energy, which continues to be headed by Kgosientsho Ramokgopa.
The council’s newly elected president Nombasa Tsengwa says Mantashe’s reappointment brings continuity in the engagements and relationships that the council has fostered with him since his initial appointment as then Mineral Resources and Energy Minister in 2018.
Gem Diamonds recovers 123 ct diamond from Letšeng
London-listed Gem Diamonds has recovered a 123.20 ct Type II white diamond from the Letšeng mine, in Lesotho.
This marks the eighth diamond greater than 100 ct in size that the company has recovered in the year.
Deep Yellow initiates financing process for Namibia uranium project
Uranium project developer Deep Yellow has appointed Nedbank as the mandated lead arranger and bookrunner to coordinate and arrange project financing for its flagship Tumas project, in Namibia.
The ASX-listed mining company says Nedbank has an extensive track record in financing mining projects across Africa. The current Deep Yellow management team previously worked with Nedbank in project financings for a uranium project in Namibia and a second African project.