President Cyril Ramaphosa has entered the politically charged discussion on the reasons behind the recent dramatic reduction in loadshedding ahead of what is expected to be a highly competition election and amid allegations that the reprieve is being staged managed to improve the governing party’s prospects and will, thus, not be sustained. Writing in his weekly newsletter at a time which Eskom had refrained from implementing the unpopular rotational power cuts for a period of more than a month and a half, Ramaphosa denied that it was a “political ploy ahead of the elections”, while indicating that it was “too early to say that loadshedding has been brought to an end”.
Zimbabwe leading the sub-Saharan African lithium mining boom
The past three years have witnessed a surge in hard-rock pegmatite lithium mining activity across Southern Africa, according to consultancy firm AmaranthCX. “While Zimbabwe has emerged as the regional leader, countries like the Democratic Republic of Congo (DRC), Namibia and South Africa are also experiencing exploration and development,” the company says.
Goldplat’s third quarter buoyed by strong performance of its Ghanaian operations
Aim-listed Goldplat’s gold recovery operations in South Africa and Ghana achieved a combined operating profit for the third quarter, ended March 31, of £1.6-million (excluding listing and head office costs and foreign exchange losses), a 10% increase on the operating profit for the third quarter in the previous financial year. During the period, the two recovery operations achieved a combined profit before tax of £890 000, after they incurred £430 000 in interest costs and £350 000 in foreign exchange losses, which mainly related to trading activities.
Caledonia starts year with higher output, profit
Gold miner Caledonia Mining says its production and profit was supported by a favourable gold price in the first quarter of the year, which has continued through April and into May.
The company’s Blanket and Bilboes mines, in Zimbabwe, recorded a 6% increase in production to 17 476 oz, compared with 16 141 oz produced in the same quarter of last year.
Kefi nears construction start at Tulu Kapi
London-listed Kefi Gold and Copper says the remaining finance syndicate approval process in respect of the Tulu Kapi project, in Ethiopia, is on track for final approvals this month.
The company has started with launch preparations on site ahead of construction, which is earmarked to start by midyear.
Power moves to establish an early niobium foothold in West Arunta
The share price of ASX-listed Power Minerals surged early 30% on Monday, following its announcement of a strategic move into the West Arunta region of Western Australia with the addition of the Waterlander project.
Situated immediately adjacent to WA1 Resources’ Luni discovery, Waterlander is prospective for niobium and rare earth elements (REE).
Anglo investors tell company to move faster to survive BHP bid
Anglo American’s shareholders are pushing the company to speed up the release of its turnaround plan as the 107-year-old miner seeks to present an alternative to BHP Group’s takeover bid.
Anglo has been reviewing its business since mid-2023, looking at every mine in its portfolio to help reshape a company that’s fallen behind competitors in recent years. Yet that process was broadsided by a takeover approach last month from the world’s biggest miner.
Platinum demand outlook pretty robust, World Platinum Investment Council highlights
The outlook for platinum is one that’s pretty robust, the World Platinum Investment Council (WPIC) has highlighted in its latest Platinum Quarterly, which shows the projection of the metal’s demand as being very encouraging amid a near-record-low supply prediction. Automotive demand is at a seven-year high, while first-quarter jewellery demand increased contrasted with a worsening supply deficit of 476 000 oz.
Fantastic advance by Proudly South African manganese battery metal first-mover
Proudly South African Manganese Metal Co (MMC) of Mbombela, Mpumalanga, is making a fantastic first-mover advance to enter the manganese battery metal market, which is progressing super-fast. To be established is a faster stream to market, which is not only ahead of the global game, but also provides time for this remarkable value-adding company to become a manganese-ore-to-sulphate producer from its current position of being the producer of the world’s purest 99.9% pure manganese metal from manganese fines.
AngloGold starts year with 2% higher output despite flooding in Australia
Gold miner AngloGold Ashanti has started the year off well, with a 2% increase in production to 581 000 oz for the quarter ended March 31, despite the impact of heavy rain and flooding on output in Western Australia. CEO Alberto Calderon says the company is seeing greater consistency from most of its operations, including better performance from its Brazilian mines, while the Obuasi mine, in Ghana, continues to ramp up.