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Perseus expects strong operating performance to continue
Published: 24 Apr 24
ASX- and TSX-listed Perseus Mining has reported gold sales of 115 648 oz in the March quarter – a 19 489 oz decrease on sales in the December 2023 quarter, owing to the timing of gold sales. The weighted average gold price realised was $2 025/oz, $62/oz more than the December 2023 quarter price of $1 963/oz.
World Bank South Africa advised by World Bank on climate insurance, contingency fund options
Published: 24 Apr 24
The World Bank is advising South Africa’s National Treasury on a climate risk strategy after floods in recent years caused billions of dollars of damage. The country may take out climate insurance or establish a contingency fund to deal with major adverse weather events, a person familiar with the matter said, asking not to be identified as a public announcement hasn’t been made. Municipalities could also be incentivised to invest in infrastructure and other measures to reduce the impact of unexpected weather events, the person said.
West African on track to meet full-year guidance following solid first quarter
Published: 24 Apr 24
Unhedged gold mining company West African Resources’ Sanbrado mine, in Burkina Faso, produced 56 595 oz of gold at an all-in sustaining cost (AISC) of $1 291/oz in the first quarter of this year. The company says it is tracking well to achieve full-year guidance of 190 000 oz to 210 000 oz at an AISC of less than $1 300/oz.
Acquabox offers sustainable drinking water solutions
Published: 24 Apr 24
Acquabox has extended its water delivery services nationwide, offering a sustainable alternative to traditional bottled water delivery services and enables access to water as piped supply is disrupted. According to Mountain Falls and Acquabox founder Michael Beatham, Acquabox is a viable option amid water shortages to ensure access to clean, quality water for all South Africans, offering water delivery that combines convenience, quality and environmental responsibility.
Ironveld enters facility agreement with Tracarta
Published: 24 Apr 24
Aim-listed mining development company Ironveld has entered into a further working capital loan facility agreement with shareholder Tracarta, in which Ironveld chairperson John Wardle has a beneficial interest. The facility agreement enables the company to draw down up to £125 000 on equivalent terms to the existing loan facilities with Tracarta and has a term of six months.
The Tororo solar plant in Uganda Red Rocket of South Africa hires Goldman to explore sale option
Published: 24 Apr 24
Red Rocket, a South African independent power provider, hired Goldman Sachs Group to advise on the next steps for the closely held business – including a possible sale. Shareholders of the Cape Town-based company “have decided to explore strategic options,” for the business, CEO Matteo Brambilla said by email.
The Grasberg mine in Indonesia Miner Freeport-McMoRan beats quarterly profit estimates on strong production
Published: 24 Apr 24
Copper miner Freeport-McMoRan beat Wall Street estimates for first-quarter profit on Tuesday, helped by higher production and easing costs. The mining giant said its quarterly production of copper rose to 1.1-billion pounds from 965-million pounds a year earlier, helped by a 49% jump in output from its Indonesia operations.
G Mining draws remaining $33m for TZ project
Published: 24 Apr 24
Toronto-listed G Mining Ventures (GMIN) has successfully drawn the remaining $33-million on its $75-million senior secured term loan with an affiliate of Franco-Nevada, in accordance with an announcement in July 2022. The proceeds of the term loan will be used to continue the development and construction of GMIN's 100% owned Tocantinzinho gold project currently under construction in Brazil.
rough diamonds being sorted using tweezers Diamond council urges industry to transition to revised System Of Warranties urgently
Published: 24 Apr 24
The World Diamond Council’s (WDC’s) revised System of Warranties (SoW) is set to reach its first critical deadline on September 21, when it becomes obligatory for all rough diamond sales.   “We strongly urge all companies, but especially . . . rough diamond traders, to transition to the revised SoW, if they have not done so yet, to be ready for the September 21 deadline,” WDC executive director Elodie Daguzan said on April 24.
Champion Iron eyes expansion beyond 15Mt/y at Bloom Lake Champion Iron eyes expansion beyond 15Mt/y at Bloom Lake
Published: 24 Apr 24
Canadian miner Champion Iron is considering a significant expansion of its production capacity at the Bloom Lake mine, in Quebec. CEO David Cataford says Champion’s technical team is assessing the investments necessary to structurally increase production beyond the current 15-million-tonne-a-year mark.
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