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Hard disk drive demand rebound holds opportunities for platinum – council

Published: 10 May 24

The market for hard disk drives (HDDs) is showing signs of a rebound after almost two years of decline, as the rapid growth in machine learning and AI are driving the need for expanded data storage, industry organisation the World Platinum Investment Council (WPIC) points out, also highlighting the relevance of this for the platinum industry. According to Forbes, total HDD unit shipments in the last quarter of 2023 were up just under 1%, marking a turnaround in HDD demand, which had been in quarterly decline since the first quarter of 2022, the council says.

South Deep, Rietberg, mineral exploration make headlines

Published: 10 May 24

Mining Weekly Editor Martin Creamer discusses developments around Gold Fields’s potential wind energy project at the South Deep Gold Mine; Copper360's Rietberg underground copper mine opening three months ahead of schedule; and South Africa’s economy can benefit quickly from getting mineral exploration going at pace.

Froneman confident PGM prices will rebound once temporary decline abates

Published: 10 May 24

Multinational mining and metals processing group Sibanye-Stillwater CEO Neal Froneman remains confident that the platinum group metals (PGM) price outlook is fundamentally positive and that the price gouging of late was merely a temporary phenomenon. “Our view that the fundamental outlook for PGMs is positive is unchanged, with little evidence of a systemic change in the market fundamentals to justify the price collapse observed during 2023.

DRDGOLD posts lower third-quarter output, but higher earnings

Published: 10 May 24

JSE-listed gold recovery company DRDGOLD has generated higher adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter ended March 31, compared with the same quarter of last year, despite having produced slightly fewer ounces. Adjusted Ebitda in the reporting quarter of R494-million, or $26.2-million, compares with adjusted Ebitda of R441-million, or $23.5-million, in the prior comparable quarter.

The Westwood mine, in Canada, achieved its highest quarter of production since mining restarted in 2021.

Iamgold guidance on track as Essakane and Westwood shine

Published: 10 May 24

Canadian gold miner Iamgold has announced a promising start to the year, reporting robust results across its operations and projects in the first quarter, positioning the company well to meet its guidance targets. CEO Renaud Adams attributed the first-quarter success to the combination of stable operations and favourable grade reconciliation at the Essakane mine, in Burkina Faso, coupled with Westwood, in Canada, achieving its highest quarter of production since mining restarted in 2021.

Sibanye reports lowest serious injury rate in its history for the first quarter

Published: 10 May 24

JSE- and NYSE-listed Sibanye-Stillwater has reported its lowest group serious injury frequency rate (SIFR) in its history for the first quarter, ended March 31. The SIFR of 2.19 was 15% lower than the first quarter of last year and marked the third consecutive yearly improvement for the group’s SIFR since the first quarter of 2021, when it stood at 4. “The continued improvement in the group safety performance year-on-year is pleasing, confirming that our safety strategy continues to gain traction and that we remain on track for a further reduction of risk for all safety incidents,” Sibanye CEO Neal Froneman said in the group’s first-quarter operating update on May 10.

Lucara achieves solid quarter at Karowe, underground expansion progressing

Published: 10 May 24

Diamond miner Lucara Diamond Corp’s Karowe diamond mine, in Botswana, delivered another solid operational quarter ended March 31, and the company’s high-value diamond production forecast remains robust, underpinned by its focus on operating practices, CEO and president William Lamb says. Work on the underground expansion project at Karowe also progressed well during the quarter, the company points out.

Gowans and Deranger retire from Cameco board

Published: 10 May 24

Canadian uranium producer Cameco has announced the election of eight board members at its annual meeting on Thursday. The board comprises Daniel Camus, Tammy Cook-Searson, Catherine Gignac, Tim Gitezel, Kathryn Jackson, Don Kayne, Dominque Minere and Leontine van Leeuwen-Atkins.

The Montage Gold team with Côte d'Ivoire President Alassane Ouattara

Montage receives enviro permit for Côte d'Ivoire project

Published: 10 May 24

TSX-V-listed Montage Gold has received a signed Ministerial order from Côte d'Ivoire granting the environmental approvals necessary for the development of its 300 000 oz/y Koné project. In addition, Montage has submitted the mining permit applications for the project and expects receiving all necessary approvals during the second half.

Aurion opts out of right of first refusal for Finland JV with B2Gold

Published: 10 May 24

Canadian exploration company Aurion Resources has elected not to exercise its right of first refusal (RoFR) to acquire a 70% interest from joint venture (JV) partner B2Gold in their Finland venture. In March, B2Gold informed Aurion of an offer from Rupert Resources to acquire its 70% interest in the JV. The venture owns exploration properties in the Central Lapland greenstone belt.