Gold mining company DRDGOLD has started self-assessment in line with the World Gold Council (WGC) Responsible Gold Mining Principles (RGMPs) to determine conformance levels across all DRDGOLD operations. The self-assessment process started in May, after the company joined the WGC last year. Progress on the alignment of internal systems and processes towards conformance with the RGMPs will be published in the first quarter of next year, DRDGOLD said on June 28.
Eskom to hit CO2 targets despite coal plant extension, CEO says
South Africa’s state power company Eskom will meet its target to reduce carbon emissions by 71-million metric tons a year by the end of the decade, its new CEO said on Friday, despite scrapping plans to retire six coal-fired power stations by then. But CEO Dan Marokane said Eskom’s immediate priority was bringing an end to the power blackouts that have devastated the economy of Africa’s most industrialised nation over the past few years.
MC Mining signs R20m loan agreement with shareholder
Coal miner MC Mining has entered into a R20-million, or $1.1-million, loan facility with South Africa-based private company Dendocept for working capital purposes. Dendocept has a 6.8% shareholding in MC Mining.
Marula starts shipping manganese from Larisoro mine to Mombasa port
London- and South Africa-listed battery metals miner Marula Mining has successfully started manganese ore shipping from the Larisoro manganese mine, in Kenya.
Marula is transporting about 1 000 t of manganese ore from the mine to Nairobi under a recently signed export logistics agreement with Scan Global Logistics Kenya (SGLK).
Dealmakers optimistic on global M&A prospects despite sluggish growth
Global mergers and acquisitions (M&A) activity grew at a sluggish pace in the second quarter, yet many dealmakers are upbeat, forecasting transactions will pick up in the second half of 2024. Stubbornly high interest rates, a hostile regulatory environment and a frothy stock market that has made valuations pricey weighed on dealmaking in the last three months.
South Africa will be well represented at Shanghai Platinum Week, Minerals Council assures
South Africa will be well represented at the upcoming Shanghai Platinum Week 2024, which takes place from July 8 to 11, Minerals Council South Africa VP Paul Dunne has highlighted. This major event will occur amid the growth in demand for platinum group metals (PGM) applications in China being extremely high, which makes detailed access to the Chinese market hugely advantageous for South Africa.
Bannerman raises A$85m to progress Namibia uranium project
Australia-listed uranium junior Bannerman Energy on Friday announced a placement to raise A$85-million for the continued development of its Etango-8 project, in Namibia.
The two-tranche placement comprises 25.8-million new fully paid ordinary shares to new and existing institutional and sophisticated investors at an issue price of A$3.30 each.
Anglo paid $23.5bn in taxes, economic contributions in 2023
Diversified mining major Anglo American paid about $23.5-billion in total tax and economic contributions throughout its global operations during 2023, a decrease from about $24.5-billion in 2022. Payments in countries such as Brazil, Australia and the UK increased, while payments in South African fell the most among the countries in which Anglo operates. Payments to South Africa fell from about $9-billion in 2022 to about $7.5-billion in 2023.
Hummingbird expects Kouroussa to reach commercial production in the third quarter
Despite unexpected challenges at Aim-listed Hummingbird’s Kouroussa gold mine, in Guinea, over the past year, including the fire at the national fuel depot in Conakry and the temporary suspension of operations by contractor Corica Mining Services, operations have fully resumed. “We anticipate reaching commercial production at Kouroussa in the third quarter. With this progress, the company is well-positioned for significant growth, solidifying our status as a multi-asset, multi-jurisdictional gold producer,” Hummingbird CEO and interim chairperson Daniel Betts said on June 27 in an update on the progress of the ramp-up of mining operations at Kouroussa.
Black Rock secures offtake agreements for Mahenge graphite
ASX-listed Black Rock Mining, through its majority-owned subsidiary Faru Graphite, has finalised two full form offtake agreements with key industrial customers Muhui International Trade and Qingdao Yujinxi New Material.
The company will supply from the Mahenge mine, in Tanzania, 15 000 t/y of large flake concentrate (about 100 mesh) under each offtake contract for a total of 30 000 t/y.