Africa-focused uranium company Lotus Resources’ shares have started trading on the US-based OTCQX Best Market, an upgrade from the OTCQB Venture Market. The company’s OTC ticker symbol remains LTSRF.
South Africa’s ARM completes strategic investment in Canada’s Surge Copper
South Africa’s diversified mining company African Rainbow Minerals has secured its 15% strategic shareholding in Surge Copper, a Toronto Stock Exchange-Venture Exchange company that is advancing an emerging critical metals district in British Columbia, Canada. Johannesburg Stock Exchange-listed ARM, headed by Dr Patrice Motsepe, is now a cornerstone investor in Surge, which owns 100% of the emerging Berg project and the longer-term Ootsa asset, which host porphyry copper, molybdenum, gold, and silver deposits.
Caledonia publishes PEA on Bilboes project ahead of new feasibility study
Gold miner Caledonia Mining Corporation has confirmed that it will develop the Bilboes sulphide gold project, in Zimbabwe, in a single phase instead of multiple phases as initially planned, and with a revised approach to the tailings storage facility (TSF).
In a preliminary economic assessment (PEA) published on May 30, Caledonia and consultancy DRA Projects finds that the TSF will be built on a modular basis to reduce initial capital expenditure and improve economic returns; however, this revised approach constitutes a significant change to the project.
Business urges all parties to accept election results and work together to rebuild country
Organised business has urged political leaders to accept the 2024 election results and to prioritise the crafting of stable governance arrangements underpinned by a commitment to the Constitution, as well as the economic reforms needed to support growth and job creation. For the first time since 1994, no single party emerged from the May 29 poll with an outright majority, with the African National Congress slumping to only 40% of the vote from 57.5% in 2019.
De Beers invites entries for 2024 Shining Light Awards programme
Diamond miner De Beers has invited entries from Canadian, Botswanan, Namibian and South African young diamond jewellery designers for its 2024 Shining Light Awards programme.
The Shining Light Awards programme aims to recognise talented youth and boost their careers in the jewellery business, as well as add further local value through downstream beneficiation in the countries in which De Beers operates.
Contractor employee dies at Kenmare’s Moma mine
London-listed Kenmare Resources has reported the death of an excavator operator, who was employed by a contractor at the Moma titanium minerals mine, in Mozambique.
The operator was involved in a fatal incident during the night shift on June 1, when a team of employees were establishing a new dry mining area for the Wet Concentrator Plant (WCP) A operations.
With ARM as strategic investor, Surge Copper kick starts Berg PFS work
TSX-V-listed Surge Copper has initiated its prefeasibility study (PFS) work on its Berg property, in British Columbia, having completed a C$5-million funding package.
The biggest component of the funding package is the recently completed C$3.9-million strategic placement with JSE-listed African Rainbow Minerals (ARM), which is now a new cornerstone strategic investor.
Russia said to seek takeover of France’s uranium assets in Niger
Russia is seeking to take over uranium assets in Niger held by a State-controlled French company, according to people informed about the matter, in a further challenge to Western interests in Africa. Rosatom, Russia’s State nuclear company, has had contacts with Niger’s military-led authorities about acquiring assets held by France’s Orano, according to a person in Moscow familiar with the matter, who asked not to be named because the discussions are private. A western diplomat based in the region said talks were likely centered around mining permits. Niger accounted for about 4% of global uranium mine production in 2022, according to the World Nuclear Association.
South Korea’s Yoon hosts Africa summit to tap minerals, vast export market
Africa’s rich mineral resources and its potential as a vast export market are at the top of South Korea’s agenda as it hosts a summit with the leaders of 48 nations this week with plans for aid on industrial infrastructure and digital transformation. Africa is a “crucial partner” for South Korea to further its industrial advances and “cooperation with Africa is not a choice but a necessity”, President Yoon Suk Yeol’s deputy national security adviser Kim Tae-hyo said.
ESG intrinsic to long-term mining success, Gold Fields AGM hears
Managing environmental, social, and governance (ESG) aspects is intrinsic to the long-term success of mining, Gold Fields chairperson Yunus Suleman highlighted at this week’s annual general meeting (AGM) of the Johannesburg- and New York-listed gold mining company. “We have a critical role to play in addressing some of these key challenges facing society at large. The commitment to reducing our carbon emissions by investing in renewables projects is a case in point.