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China’s silver imports set to jump as solar demand lifts prices

Published: 29 May 24

Chinese silver imports could surge in coming weeks, as traders take advantage of a jump in demand that’s taken prices well above the international market. Silver’s in a sweet spot because of its dual uses as an industrial metal and a financial asset. It’s an important material in solar panels, which China continues to build in vast quantities, and it’s also a cheaper alternative to gold, which is setting its own records on price led by Chinese demand.

Mongolia defends plan to tap mining riches for new sovereign wealth fund

Published: 29 May 24

Mongolia’s prime minister defended changes to the country’s mining laws after foreign investors raised concerns they could deter investment in its large reserves of critical minerals, including those used in electric vehicle batteries and other new energy technologies. Legislative amendments to restrict private investment in strategic deposits and give the government free shares in mining projects will ensure the Mongolian people benefit from the country’s substantial resources, Prime Minister Oyun-Erdene Luvsannamsrai said in an email to Bloomberg News last week.

Anglo American's head office in South Africa

BHP, Anglo dig in even as takeover talks deadline nears, sources say

Published: 28 May 24

BHP was struggling to find common ground with Anglo American on Tuesday in talks over its takeover offer, with no new concessions as a deadline nears for the world's biggest miner to submit a binding offer, five sources said. Anglo granted its bigger rival a one-week extension until 1600 GMT on Wednesday to its original May 22 deadline to submit a binding offer, after rejecting a third takeover proposal that had been dismissed as difficult to execute. It agreed to hold talks with BHP to iron out contentious issues over the structure of the deal.

Marula reports high-grade manganese assays from testwork with potential offtaker

Published: 28 May 24

UK- and South Africa-listed battery metals miner Marula Mining has reported average grades of 35.73% from manganese samples taken from the Larisoro manganese mine, in Kenya. The company garnered 18 samples from stockpiled material which will soon be railed to the port of Mombasa for export.

Globe says Kanyika capital funding requirements finalised at $46m

Published: 28 May 24

Australia-listed Globe Metals and Mining has reported that capital funding requirements for Phase 1 project development at its Kanyika Niobium project, in Malawi, have been finalised at an estimated $46-million, inclusive of a 25% project contingency allocation. The company says the Phase 1 project development plan is confirmed with a clear path to project construction.

Dr Vincent Maphai (left) and Neal Froneman.

Measures to address loss-making assets expected to secure R6.6bn yearly, Sibanye AGM hears

Published: 28 May 24

The measures that green metals and gold mining company Sibanye- Stillwater has taken to address loss-making assets are expected to secure yearly savings and capital expenditure deferrals of R6.6-billion, chairperson Dr Vincent Maphai told the online AGM of the platinum group metals major on Tuesday. The focus of the Johannesburg- and New York-listed Sibanye-Stillwater is on strategic essentials, which Maphai highlighted as being a reduction of operating and capital costs as well as the improvement of efficiencies.

An image of Ivanhoe founder and executive co-chairperson Robert Friedland

Ivanhoe completes Phase 3 concentrator construction at DRC project ahead of schedule

Published: 28 May 24

TSX-listed Ivanhoe Mines announced that, on May 26, first ore was fed into the Phase 3 concentrator at the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC). First ore marks the completion of construction of the Phase 3 concentrator, which has been achieved months ahead of schedule and on budget.

Europe’s biggest pension fund sells €10bn in fossil fuels

Published: 28 May 24

Europe’s biggest pension fund, Stichting Pensioenfonds ABP, has exited all liquid assets in oil, gas and coal worth about €10-billion, in an effort to be greener. The last shares and bonds owned by the fund were sold in the first quarter of this year, Harmen van Wijnen, chairman of ABP’s board of trustees, said in an interview at the fund’s headquarters in Amsterdam. ABP, which had pledged to sell down a majority of the investments by early last year, no longer holds any “liquid assets” in fossil energy producers, he said.

Jupiter forecasts higher manganese prices in coming months

Published: 28 May 24

ASX-listed Jupiter Mines marketing head Tracey Cloete says manganese ore prices are likely to trade higher than the historical average in coming months owing to supply disruptions. Jupiter has a 49.9% interest in the Tshipi manganese mine, in South Africa.

Firebird receives safety permit for Chinese project

Published: 28 May 24

ASX-listed Firebird Metals’ subsidiary Hunan Firebird Battery Technologies has received a safety permit for Stage 1 of a proposed battery-grade manganese sulphate plant in China. The plant will use third-party manganese ore to produce high-purity manganese sulphate.