Titanium and zircon producer Kenmare Resources has confirmed in a July 17 trading update for the quarter and half-year ended June 30, that it is on track to achieve its full-year guidance on all stated metrics. Kenmare operates the Moma titanium minerals mine in northern Mozambique.
Rio Tinto picks energy exec as new copper chief
Diversified mining group Rio Tinto has appointed Katie Jackson to lead its copper business, succeeding Bold Baatar, who is set to become COO later this year. Jackson is currently president of National Grid Ventures, responsible for the development and operation of large-scale energy infrastructure assets.
BHP posts second straight year of record iron-ore production, beats estimates
BHP Group on Wednesday reported record annual iron-ore production for a second consecutive year, helped by improved weather conditions and higher contribution from its South Flank operations in Western Australia.
The world’s largest listed miner beat analyst expectations for both its quarterly iron-ore and copper production in its production report.
Gold holds at record high as rate cut bets fuel demand rush
Gold hit another record as traders placed stronger bets on Federal Reserve rate cuts this year and weighed an uncertain outlook for US politics.
Bullion advanced in Asia hours to touch an all-time high of $2 475.81 an ounce on Tuesday, following a 1.9% jump in the previous session. Gold has rallied this month as traders pile into bets for earlier, deeper rate cuts from the Fed amid increasing signs that inflation is cooling toward the central bank’s target. Lower borrowing costs tend to benefit the metal as it yields no interest.
Minerals Council VP spells out platinum production decline expectation to Shanghai
Under current market conditions, many platinum mines will close prematurely due to a lack of financial resources – and even without financial constraint, closure of depleting mines will result in platinum availability being considerably below the level that has prevailed for the past quarter century, Minerals Council South Africa VP Paul Dunne informed last week’s Shanghai Platinum Week audience. Displaying a graph projecting two global platinum scenarios, Dunne said the lower declining darker dotted line shown in the image above would be platinum’s downfall should current platinum group metals (PGM) pricing persists.
Assore invests C$68m in Marimaca Copper
Assore International Holdings (AIH), a subsidiary of South Africa’s Assore Group , has made a C$68-million investment in Toronto-listed Marimaca Copper that owns the Marimaca project in Chile’s Antofagasta region.
The strategic investment comprises two parts: first, the acquisition of 9.42-million shares of Marimaca from an affiliate of Tembo Capital Mining, Ndovu Capital, at C$4.50 a share generating C$43.38-million for Tembo Capital. Second, AIH subscribed to 5.73-million units through a C$25.76-million nonbrokered private placement.
Barrick shows marginal rise in quarterly production
Canada-headquartered miner Barrick Gold on Tuesday reported preliminary second-quarter production of 948 000 oz of gold and 43 000 t of copper and reaffirmed its full-year guidance.
The second-quarter gold output increased by a marginal 0.85% quarter-on-quarter, helped by increased production at Turquoise Ridge, in the US, and the continued ramp-up of the Porgera mine, in Papua New Guinea, as well as significant increases at its African mines.
South Africa’s largest wheeling project celebrates official commissioning
Vertically-integrated renewable-energy solutions provider the Sola Group has celebrated the official commissioning of South Africa’s largest operational wheeling project, which will add 256 MW of renewables capacity to the national grid to power mineral sands miner Tronox Mineral Sands’ operations in the country. Speaking to Engineering News and Mining Weekly in an exclusive interview prior to the launch, Sola Assets MD Katherine Persson explained that the wheeling project encompasses two solar PV projects, with capacities of 126 MW and 130 MW, respectively, outside Lichtenburg in the North West.
Centamin to sponsor Egyptian Mining Forum
As part of its commitment to assist in the development of the Egyptian mining sector, London- and Toronto-listed gold miner Centamin is partnering with the Egyptian Mining Forum this week as the event’s primary sponsor. The Egyptian Mining Forum is set to celebrate the increasing prominence of mining in Egypt. The event is aimed at highlighting the role that innovative technologies and sustainable practices are playing throughout the sector, while promoting the untapped mineral and exploration opportunities in the region.
Improved operational performance drives increase in Northam’s full-year refined output
JSE-listed Northam Platinum achieved a 10.3% year-on-year increase in total equivalent refined platinum, palladium, rhodium and gold (4E) metal production from its own operations for the financial year ended June 30. Including bought material, refined 4E metal production was 10.6% higher year-on-year.