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Macroeconomic factors dampen Sasol’s year-to-date performance

Published: 23 Apr 24

NYSE- and JSE-listed petrochemicals company Sasol says its energy business benefitted from higher basic fuel prices, as well as improved refining margins towards the end of the nine months ended March 31, which helped to offset operational headwinds at the group’s mining and Secunda operations. Sasol’s mining productivity has improved albeit at a slower pace than expected. The group expects to meet the lower end of its coal productivity guidance range of between 975 t and 1 100 t per continuous miner per shift for the full-year ending on June 30.

Kumba’s first-quarter sales fall 10% on port challenges

Published: 23 Apr 24

Anglo American subsidiary Kumba Iron Ore has reported a 10% year-on-year decrease in sales to 8.5-million tonnes for the quarter ended March 31, on the back of port performance challenges. About 400 000 t of shipments have been rolled over to the second quarter as a result.

Copper 360 asks FSCA to investigate 'unusual' trades in its shares

Published: 23 Apr 24

JSE-listed copper miner Copper 360 has informed shareholders that it has noticed "unusual and uncommercial" trades in its shares, resulting in a substantial drop in its traded price. "The trades in question have continued on a systematic and sustained basis for a period of several weeks," it says in a notice published on the JSE's Stock Exchange News Service.

Image of Cell C chief data and analytics officer Bryan O'Donovan

Cell C appoints chief data and analytics officer

Published: 23 Apr 24

Communications group Cell C has appointed Bryan O'Donovan as chief data and analytics officer, effective May 2024. He will be responsible for spearheading the management of the organisation's data and analytics assets, championing data-driven decision-making processes and leveraging data assets to propel growth and optimisation initiatives.

Anglo pleased with copper's first-quarter performance

Published: 23 Apr 24

Copper production increasing by 11% as Quellaveco achieved its highest plant throughput rate in Peru, and Collahuasi and El Soldado in Chile benefitting from higher copper grades were among the first-quarter performance aspects that pleased diversified mining company Anglo American in the three months ending March 31. “We’re driving operational excellence across our assets, focusing on stability and effective cost management as levers to deliver significant value through the cycle,” Anglo CE Duncan Wanblad highlighted in a release to Mining Weekly on Tuesday.

G Mining buys Reunion’s Guyana project

Published: 23 Apr 24

Toronto-listed G Mining Ventures (GMIN) unveiled a significant move on Monday, announcing its acquisition of TSX-V-listed Reunion Gold, owner of the Oko West project in Guyana, in a C$875-million transaction. The consolidation marks a strategic step for GMIN towards accelerating its vision of building a prominent intermediate gold producer, leveraging the acquisition of the globally significant Oko West gold discovery in the Guiana Shield.

Amplats posts lower first-quarter output

Published: 23 Apr 24

Platinum group metals (PGM) miner Anglo American Platinum (Amplats) has reported a decrease in 5E metal-in-concentrate production of 7% to 834 100 oz for the quarter ended March 31, compared with the 901 200 oz produced in the same quarter of last year. Notably, the group’s own-managed PGM production decreased by 6% year-on-year to 504 300 oz, while the purchase of PGM concentrate decreased by 10% year-on-year to 329 000 oz.

Africa needs to build more oil infrastructure

Published: 23 Apr 24

Africa's mid- and downstream oil products supply infrastructure is ageing and suffers from a lack of investment, outdated policy frameworks and insufficiencies in regional, national and urban energy planning when compared with other regions across the world. Efforts have also not kept pace with rapidly growing populations and urbanisation trends, which has resulted in fragmented supply routes, bottlenecks and insufficient infrastructure capacity, contributing to an overreliance on trucks, congestion in cities and ports, and disrupted access to energy.

IEA expects another record year for EVs in 2024, but sales remain concentrated

Published: 23 Apr 24

The International Energy Agency (IEA) expects electric vehicle (EV) sales to rise to a record 17-million in 2024, representing more than one in every five passenger cars sold, but with sales likely to remain highly concentrated in the Chinese, European and US markets. Sales rose by 35% last year to a record level of nearly 14-million units, lifting the number of EVs on the road globally to 40-million, and with battery electric cars accounting for 70% of the electric car stock.

Gold Road withdraws from Greenstone transaction process

Published: 23 Apr 24

Australian mining company Gold Road Resources has announced its decision to discontinue its involvement in a transaction process led by Orion Resources Partners concerning a potential investment in Greenstone Gold Mines, situated in Canada. The company last week confirmed media reports that it was participating in a sales process initiated by Orion for Greenstone Gold Mines.