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PGM recycling, lower-grade resources offer opportunities in low-price environment

Published: 15 Apr 24

With the platinum group metals (PGM) basket price remaining at low levels, particularly with platinum pricing at about $935/oz currently, investors are looking at how mining companies are able to generate free cash flow, the cost of their operations and their commodity mix. Commenting on investors’ sentiment towards PGMs at the moment, JP Morgan metals and mining equity analyst Catherine Cunningham says investors favour the companies that are best able to weather the storm, should it continue for longer.

Rusal says new Western sanctions won't hurt its aluminium supply

Published: 15 Apr 24

Russian aluminium giant Rusal said on Monday that new sanctions on Russian metals introduced by the United States and Britain will have no impact on its ability to supply aluminium to world markets. Washington and London on Friday prohibited metal-trading exchanges from accepting new aluminium, copper and nickel produced by Russia and barred the import of the metals into the United States and Britain.

Nickel developer Horizonte’s financing efforts fail

Published: 15 Apr 24

London- and Toronto-listed Horizonte Minerals has failed to secure financing for its Araguaia nickel project, in Brazil, and is compelled to explore other options that may put shareholder value at risk. The alternative scenarios will focus on protecting the interest of secured creditors and include raising financing at the subsidiary level, a sale of the project while in care and maintenance, the liquidation of the assets, or other options available under Brazilian laws.

Gold Road confirms interest in Canada’s Greenstone Gold Mines

Published: 15 Apr 24

Australian mining company Gold Road Resources has responded to media speculation circulating in The Australian regarding its potential acquisition of an interest in Greenstone Gold Mines, located in Canada. The company on Monday confirmed its active participation in a sale process initiated by Orion Resource Partners for Greenstone Gold Mines.

The new restrictions are at curbing President Vladimir Putin’s ability to fund his military

Metals spike on LME after Russian supply hit by US, UK sanctions

Published: 15 Apr 24

Aluminum and nickel surged on the London Metal Exchange as traders responded to new US and UK sanctions that banned deliveries of any Russian supplies produced after midnight on Friday. The new restrictions, aimed at curbing President Vladimir Putin’s ability to fund his military, inject major uncertainties into metals markets that have already been reshaped in the aftermath of Russia’s invasion of Ukraine.

France wants to revive copper mining and speed up green projects

Published: 15 Apr 24

France plans measures to revive copper mining and speed up lithium and geothermal energy projects to help reduce dependency on imports and hit climate targets. European countries are trying to boost renewables capacity to curb emissions, while critical metals are coming under the spotlight more as more nations increasingly view supplies as a matter of national security. Geopolitical tensions around the world and competition for resources are fueling a push toward greater self-sufficiency.

Workers protest outside the shuttered Cobre Panama mine

Panama’s $10bn mine closure casts a shadow over election and bonds

Published: 15 Apr 24

Six months after violent protests rocked Panama, the country’s politicians are on edge and foreign investors are staying away. The demonstrations, which started among local unions and university students and spread rapidly across the country, forced authorities to hastily shut down a controversial but economically critical copper mine in December.

Gold jumps after Iran strike against Israel stokes haven demand

Published: 15 Apr 24

Gold rose as much as 1.2% shortly after the open as Iran’s attack on Israel over the weekend drove demand for haven assets. Bullion traded near a record high set on Friday as the conflict in the Middle East entered a dangerous new phase. The Islamic Republic fired more than 300 drones and missiles against Israel on Saturday evening, although almost all were intercepted and there were no fatalities reported.

Tietto owns the Abujar gold mine in Côte d'Ivoire

Tietto Minerals at 1-year high on Zhaojin's sweetened $733m bid

Published: 15 Apr 24

China's Zhaojin Mining said on Monday it is raising its offer to buy the shares it does not already own in Tietto Minerals to up to A$733-million, sending the Australian gold explorer's shares to a one-year high. Last October, Zhaojin had placed a bid for Tietto Minerals, which owns its flagship Abujar gold mine in Côte d'Ivoire, for about A$629-million.

Halt in loadshedding could boost mining production, if sustained

Published: 12 Apr 24

South Africa has had more than two weeks without loadshedding and, if this can be sustained, it could push mining production for the full year into positive terrain, says Minerals Council South Africa chief economist Hugo Pienaar. He points out that, following two calendar years of decline and a poor start to this year, Statistics South Africa has reported that, in real terms, total mining production surged by 9.9% year-on-year in February.