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Polymetal and MAC form Cobar mine alliance
Published: 27 May 24
The stock of ASX-listed base metals miner Polymetals Resources jumped 21% on Monday as the company announced a strategic alliance with, and investment by, ASX- and NYSE-listed Metals Acquisition (MAC).
Polymetals aims to reopen the Endeavor zinc mine, which is about 30 km north of MAC’s CSA copper mine, near Cobar, in New South Wales.
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Polymetal and MAC form Cobar mine alliance
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Grupo Mexico's Asarco to reopen US copper smelter amid surging prices
Published: 27 May 24
Asarco, the mining company controlled by industrial conglomerate Grupo Mexico, is planning to restart its mothballed copper smelter in the United States as prices for the red metal hit record highs, two sources with direct knowledge of the company's plans told Reuters.
Asarco, first bought by Grupo Mexico in 1999, is in negotiations with unionized workers to restart the Hayden smelter in Arizona and nearby copper mines, as well as the Amarillo refinery in Texas, the sources said.
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Grupo Mexico's Asarco to reopen US copper smelter amid surging prices
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BlackRock encouraged Anglo to extend talks with BHP, source says
Published: 27 May 24
Anglo American was encouraged by key shareholders including BlackRock to continue engaging in talks with BHP Group over its proposed 38.6-billion pound ($49.18-billion) mining merger, a person familiar with the matter told Reuters on Saturday.
BHP, the world's biggest listed mining group, now has until May 29 to make a firm bid for Anglo American or it will be forced to walk away for at least six months under the UK's takeover rules after it was granted a one-week extension on Wednesday.
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BlackRock encouraged Anglo to extend talks with BHP, source says
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China defies global copper squeeze with near-record production
Published: 27 May 24
The global copper market is gripped by fears of a shortage, which has propelled prices to record levels and sparked a $49-billion takeover battle. But in China, the world’s biggest producer and consumer of the refined metal, there’s more than enough to go around.
At the center of that conundrum are the nation’s ever-expanding copper smelters. The industry is maintaining production at near-record levels — defying a scarcity of raw materials — as higher prices unlock more scrap metal for processing.
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China defies global copper squeeze with near-record production
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Nersa extends deadline for comment on Eskom’s move to reserve grid for public IPPs
Published: 26 May 24
The National Energy Regulator of South Africa (Nersa) has extended to June 17 the deadline for comment on Eskom’s application to preserve and reserve grid capacity for independent power producers (IPPs) participating in public procurement processes implemented in line with Section 34 of the Electricity Regulation Act (ERA). The initial deadline was May 25.
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Lack of funding remains a big concern for coal juniors
Published: 24 May 24
Amid challenging market conditions, junior coal miners in Africa face challenges in securing funding, with about 70% experiencing constraints in exploration and production owing to insufficient financing, said coal procurement and mining development company Alpha Resources and Investments CEO Selim Kaymak, citing statistics from a Mining Technology report. During a presentation at the Junior Mining Indaba on May 22, Kaymak discussed the implications of a challenging coal mining market for junior miners. In his presentation, he cited a Minerals Council South Africa statistic that junior coal miners are significant players in South African coal production, contributing up to 30% of South Africa’s overall output.
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Neasa asks Patel, Itac to stop imposing upstream steel import duties
Published: 24 May 24
The National Employers' Association of South Africa (Neasa) says government’s duties on imported steel only serve to support ailing primary steel producer ArcelorMittal South Africa (AMSA). Neasa said the duties would not only fail to save AMSA in the long run, but were also gradually eroding the entire steel industry.
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Social elements of ESG in mining more complex, but an established part of mining's legacy
Published: 24 May 24
While there are increasingly complex regulatory requirements governing the social obligations of mines, regulations are only catching up to what some mining companies are doing to benefit mine communities and stakeholders. Mining companies understand the need to obtain a so-called 'social licence to operate' from communities in an area, and many of them also conform to international regulations, such as stock exchanges' environmental, social and governance (ESG) reporting rules, as well as international norms and expectations in terms of their social obligations.
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AU signs new agreement on Earth observation cooperation with a European organisation
Published: 24 May 24
The African Union Commission (AUC) and the European Organisation for the Exploitation of Meteorological Satellites (much better known by its acronym, EUMETSAT) have signed an agreement to reinforce their cooperation in the sphere of Earth observation (EO). This follows the start of the deployment of the third generation of EUMETSAT’s Meteosat weather- and climate-focused EO satellites. This third generation is known as the MTG satellite system. “The Memorandum of Understanding represents ...
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Massive water power possibilities in underground mining, says COMRO book editor
 Published: 24 May 24
When hydropower was being developed for South Africa’s gold-mining industry, the industry was going through a tough time and the research organisation of the day, the Chamber of Mines Research Organisation or COMRO, ceased to function in the form that it had for 30-odd years. Had COMRO continued with its intense hydraulics research through what was such an uncertain time that it merged the research organisation with the CSIR, water power could conceivably have been playing a much bigger role than it is now.
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