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More than eight in ten, or 81%, of respondents to the 2024 Central Banks Gold Reserves survey said they expect reserve managers to continue to increase their gold holdings in the next 12 months. This data, released by the World Gold Council, reflects the highest confidence level recorded since the survey began in 2019.

Despite high gold prices and two successive years of record central bank purchasing, nearly 30% of central banks plan to add to their own gold reserves within the next year. This trend highlights a persistent favourable view of gold among reserve managers, who see the precious metals as a hedge against political and economic uncertainty.

UK-based mineral resources investment company Cluff Africa has signed a term sheet with Zimbabwe sovereign wealth fund, Mutapa Investment Fund, to acquire 45% in the Sandawana mining permits. This agreement marks the conclusion of a due diligence process.

Cluff Africa plans to launch a reverse circulation drilling programme immediately following the final agreement with Mutapa, aiming to define an inferred resource.

Johannesburg Stock Exchange-listed Thungela Resources is poised to spend R3.9-billion worth of capital in South Africa going forward. An estimated R1.3-billion of this capital expenditure (capex) is scheduled to be spent in the next six months and a further R800-million in the final six months of the company’s financial year to end June 2025.

Anglo American’s copper output at its Los Bronces mine in Chile is expected to fall nearly a third from average historical levels next year as the miner pauses a processing plant for maintenance, the company’s Chile head said on Tuesday.

Anglo American previously said it would suspend the plant, which is the smaller and older of two at the site, in mid-2024, but had not disclosed the estimated hit on production.

The completed prefeasibility study (PFS) drilling campaign for the Bengwenyama platinum group metal (PGM) project, on the eastern limb of South Africa’s distinctively endowed Bushveld Complex, is emphasising the robustness of the upper group two (UG2) reef, project developer Southern Palladium reported on Tuesday. An updated mineral resource estimate (MRE) will now follow in the third quarter of this year to facilitate the commencement of mine planning for the PFS.

More than eight in ten, or 81%, of respondents to the 2024 Central Banks Gold Reserves survey said they expect reserve managers to continue to increase their gold holdings in the next 12 months. This data, released by the World Gold Council, reflects the highest confidence level recorded since the survey began in 2019.

Despite high gold prices and two successive years of record central bank purchasing, nearly 30% of central banks plan to add to their own gold reserves within the next year. This trend highlights a persistent favourable view of gold among reserve managers, who see the precious metals as a hedge against political and economic uncertainty.

The completed prefeasibility study (PFS) drilling campaign for the Bengwenyama platinum group metal (PGM) project, on the eastern limb of South Africa’s distinctively endowed Bushveld Complex, is emphasising the robustness of the upper group two (UG2) reef, project developer Southern Palladium reported on Tuesday. An updated mineral resource estimate (MRE) will now follow in the third quarter of this year to facilitate the commencement of mine planning for the PFS.

Johannesburg Stock Exchange-listed Thungela Resources is poised to spend R3.9-billion worth of capital in South Africa going forward. An estimated R1.3-billion of this capital expenditure (capex) is scheduled to be spent in the next six months and a further R800-million in the final six months of the company’s financial year to end June 2025.

Botswana’s Debswana Diamond Company on Tuesday reported a fatality at its Jwaneng mine following an accident involving a crane and drill rig.

The incident, which took place on Monday, involved an employee of one of Debswana’s contracting companies, it said in a statement. Investigations into the incident are ongoing, Debswana added.

UK-based mineral resources investment company Cluff Africa has signed a term sheet with Zimbabwe sovereign wealth fund, Mutapa Investment Fund, to acquire 45% in the Sandawana mining permits. This agreement marks the conclusion of a due diligence process.

Cluff Africa plans to launch a reverse circulation drilling programme immediately following the final agreement with Mutapa, aiming to define an inferred resource.