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Three new members join global mining organisation

Published: 07 Jun 24

Global CEO-led mining and metals industry body the International Council on Mining and Metals (ICMM) reported in March that it had welcomed three new association members, which “share ICMM’s vision for a safe, just and sustainable world enabled by responsible production of minerals and metals,” says ICMM CEO Rohitesh Dhawan. The new members include industry bodies the Canadian Institute of Mining, Metallurgy and Petroleum (CIM); the Federation of Chamber of Mines (EFEDCOM), which is a sub-regional chamber of the Economic Community of West African States (ECOWAS); and the International Chromium Development Association (ICDA).

Two bars of gold balanced on top of each other

Gold’s continual rally

Published: 07 Jun 24

International gold industry trade association the World Gold Council’s (WGC’s) ‘Gold Demand Trends’ report for the first quarter of this year reveals that total global gold demand, inclusive of over-the-counter (OTC) purchases, was up 3% year on year (y/y) to 1 238 t, marking the strongest first-quarter performance since 2016. However, compared to the same period in 2023, gold demand, excluding OTC, fell 5% to 1 102 t.

UPCOMING UPGRADE
Kenmare's largest mining plant, WCP A, is slated for an upgrade and transition to the Nataka ore zone

Plant upgrade secures long-term operations

Published: 07 Jun 24

The upgrading and relocating of titanium and zircon producer Kenmare Resources’ wet concentrator plant A (WCP A), at its Moma titanium minerals mine, in Mozambique, is aimed at securing long-term production and sustainability, the miner tells Mining Weekly. Kenmare is planning a significant investment of up to $341-million – from 2024 to the end of 2027 – to make this possible.

Men and women sitting on a stage in a panel discussion at the 2023 London indaba

Bigger attendance expected

Published: 07 Jun 24

Following the inaugural London Indaba in 2023, event organiser Resources4Africa (R4A) says this year’s conference aims to garner more attention from investors and the global mining sector. Set to be held on June 25 and 26 at the InterContinental Park Lane Hotel, in London, this year’s event will be presented in the same trademark manner as the Joburg Indaba, in South Africa – already in its twelfth year – with encompassing, “open and frank” conversations that take a constructive approach to tackling important issues, highlights R4A.

LARA SMITH
Mozambique’s recent surge in mining activity is largely owing to the discovery of new natural resources

Mining sector shows significant growth trajectory in Africa – consultancy

Published: 07 Jun 24

Underscoring Mozambique’s significant mining sector growth is President Filipe Nyuse’s affirmation, through a statement, that Mozambique’s extractive industry amassed revenue exceeding $12.3-billion between 2020 and 2024. This revenue contribution, according to independent mining consultancy Core Consultants, evidences the growing significance to the global mining sector of Mozambique, which boasts significant resources of diverse minerals, such as coal, natural gas, heavy mineral sands, rubies, sapphires and emeralds.

MOZAMBIQUE POTENTIAL
Mozambique continues to attract international interest and aims to bolster its position as a key mining hub in Southern Africa

Long-term unlocking of vast resources potential gaining ground

Published: 07 Jun 24

Mozambique’s mining industry has been a significant driver of economic growth over the past two decades. With vast mineral resources, including heavy sands, coal, magnetite, graphite, lithium, gold and gemstones, the country offers a promising landscape for mining investments, says mining industry representative organisation Mozambique Chamber of Mines (CMM) chairperson Geert Klok. He adds that despite challenges, Mozambique continues to attract international interest and aims to bolster its position as a key mining hub in Southern Africa.

Global gold ETFs saw first inflows in a year in May, says WGC

Published: 06 Jun 24

Global physically backed gold exchange traded funds (ETFs) attracted their first inflows in May after a year, powered by additions to holdings by Europe- and Asia-listed funds, the World Gold Council (WGC) said on Thursday. Safe-haven demand driven by geopolitical and economic uncertainty, as well as persistent central bank buying contributed to a rally in gold from March to May, taking spot prices XAU= to a record $2 449.89 per ounce on May 20.

Member of the European Parliament Hildegard Bentele

Greater investment needed to ensure the success of Europe's CRMA

Published: 06 Jun 24

Greater investment in both technology and skills is needed in Europe to ensure the successful implementation of the Critical Raw Materials Act (CRMA), Member of the European Parliament Hildegard Bentele has stressed. Speaking at the MiningForum, in Berlin, Germany, on June 6, she said it was an exciting and challenging time for miners, especially for those of strategic raw materials.

Ausgold fully funded through to FID

Published: 06 Jun 24

Exploration and development company Ausgold has garnered robust investor support for the Katanning Gold Project (KGP), in Western Australia, successfully raising A$38-million in a two-tranche placement. The fundraising was anchored by international institutional investors, including Jupiter Asset Management and Dundee Corporation.

Ironveld assessing options amid financing hiccup

Published: 06 Jun 24

London-listed Ironveld, which owns a high-purity iron, vanadium and titanium project on the northern limb of the Bushveld Complex, in Limpopo, South Africa, says it is assessing its options as it may not be able to secure the funding it was previously expecting to close by the first half of this year. The company has been in discussions with a South African financial institution regarding asset level financing of mining and smelting activities at the project.