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Published: 22 May 24

This week: PGM-boosted green hydrogen backed by resolute South African govt's commitment; State mining training authority backing green hydrogen skills centre creation, and, Nedbank says green energy presenting South Africa with massive reindustrialisation chance

Air Products to play pivotal role in hydrogen mobility ecosystem

Published: 22 May 24

Industrial and specialty gas manufacturer and supplier Air Products South Africa is aiming to play a pivotal role in establishing a sustainable and thriving hydrogen mobility ecosystem in the country.

Anglo CEO Duncan Wanblad and BHP CEO Mike Henry

Clock runs down on BHP’s $43bn bid for Anglo American

Published: 22 May 24

BHP Group has just hours to launch a blockbuster bid to buy smaller mining rival Anglo American — or put its audacious takeover plan on the shelf. The proposal by the world’s biggest miner to spin off two units and then buy the remainder of Anglo would create a global copper behemoth, heralding the industry’s return to mega—deals after more than a decade. Anglo has already rejected two non-binding offers from BHP — the last worth $43-billion — and unveiled its own plans for a radical restructuring.

AIC initiates A$50m Jericho mine development, elevating Eloise

Published: 22 May 24

Queensland copper miner AIC Mines on Wednesday pushed the button on the development of the A$50-million Jericho mine, which is set to transform its Eloise operation into a cornerstone asset. Development of the Jericho mine and expansion of the Eloise processing plant will lift production to more than 20 000 t/y of copper and 7 500 oz/y of gold.

Hudbay to raise $300m in bought deal equity offering

Published: 22 May 24

Canadian copper miner Hudbay Minerals plans to raise $300.2-million in an equity offering to help fund near-term growth initiatives at its Copper Mountain unit among other purposes, the company said on Tuesday. Underwriters led by RBC Capital Markets and BMO Capital Markets will buy 31.6-million shares of Hudbay at $9.50 each under a bought deal.

A January 2024 photo of the Cote project site in Ontario

Iamgold reveals $300m bought-deal financing to boost Côté stake to 70%

Published: 22 May 24

Canada-headquartered Iamgold on Tuesday announced a $300-million bought deal financing at $4.17 a share to partly fund the repurchase of 9.7% in the Côté gold mine, in Sudbury, Ontario. Iamgold’s participation in the Côté Gold Joint Venture (UJV) is 60.3% and it has an option to repurchase 9.7% from Sumitomo as part of a December 2022 funding agreement.

Saudi Ma'aden has extracted lithium from seawater, CEO says

Published: 22 May 24

Saudi Arabian Mining Company Ma'aden has successfully extracted lithium from seawater, although not at levels that are commercially viable and its project remains at the pilot stage, its CEO told Reuters on Tuesday. "We are actually producing lithium from seawater now," Robert Wilt said, without giving further details.

Antamina, controlled by Glencore, BHP, Teck and Mitsubishi, produced 435 378 t of copper last year, and hopes to maintain that level in 2024.

Peru's 2024 copper target is realistic, mining magnates say

Published: 22 May 24

The Peruvian government's 2024 copper production goal of three-million metric tons is realistic, senior industry executives said on Tuesday, as the country seeks to boost mining investments to help lift the economy out of recession. The South American country produced 2.76-million tons of copper last year, dropping its rank from first to second for global production of the red metal. It still ranks first globally for export volumes.

Solaris CEO blames 'counterproductive' Canadian policy for failed C$130m Zijin deal

Published: 22 May 24

Copper and gold company Solaris has decided against selling a minority stake to China’s Zijin Group, owing to concerns that the transaction – announced in January – would not meet Canada’s foreign investment standards within a reasonable timeframe. The transaction entailed Solaris’ selling a 15% stake to Zijin for C$130-million to support the development of the Warintza copper project, including the potential major purchase of an adjacent asset in Ecuador.

Opening Junior Indaba panel (from left) Lili Nupen, Tseliso Maqubela, Errol Smart, Mosa Mabuza, Bernard Swanepoel.

Latest cadastre agreement excites South Africa’s Junior Indaba panel

Published: 21 May 24

There were expressions of excitement at the South Africa’s Junior Indaba on Tuesday when attendees at the important mining event learnt of the signing of the service-level agreement (SLA) for South Africa's long-awaited mining cadastral system, a key tool for orderly mineral exploration regulation. “Pen was put to paper yesterday,” opening discussion chairperson and NSDV director Lili Nupen highlighted following the revelation of the SLA by Department of Mineral Resources and Energy deputy director-general and panelist Theliso Maqubela.