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.
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.
Mining needs one-stop regulatory environment to boost growth – Minerals Council
South African mining needs what is often referred to as a one-stop shop to ensure that an applicant is not sent from one department to the other but goes to one place where the application is submitted and the applicant receives communication from one source. “That’s a process that needs to take place as quickly as possible,” Minerals Council South Africa CEO Mzila Mthenjane highlighted during a media conference that followed the council’s 134th AGM in Johannesburg on Wednesday.
Andrada signs deal to restructure Uis Tin Mining Company
Dual-listed Andrada Mining has executed a legally binding agreement to restructure Uis Tin Mining Company (UTMC), the operational Namibian entity that holds the ML133, ML134 and ML129 mining licences in Namibia, to ensure a more efficient corporate structure going forward. The company is seeking to increase its ownership interest in UTMC, from 85% to 100% through the acquisition of the 15% interest currently held by the Small Miners of Uis (SMU).
Paladin sets guidance for resurrected Namibia uranium mine
Uranium mining company Paladin will continue to use previously mined stockpile ore for production at the Langer Heinrich mine next year, and will restart mining activities in 2026.
Having recently completed the restart of the Namibian mine, Paladin on Wednesday announced its 2025 production guidance of 4-million to 4.5-million uranium oxide at a production cost of $28/lb to $31/lb.
Petra shares plans to reduce operating costs, appoints new CFO
London-listed Petra Diamonds has shared its plan for a sustainable reduction of $30-million a year in operating costs from the 2025 financial year, as well as a smoothing of its development and sustaining capital profile to about $100-million a year at its South African operations to target free cash generation through the cycle. At an investor day presentation, in London, England, on June 27, Petra said approved extension projects were expected to be self-funded, with production growth to over 3.4-million carats expected by the 2028 financial year.