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From left, Kudakwashe Maramba, George Roach, Ntsiki Adonisi, Louis Nel, Jaco Prinsloo, Bernard Swanepoel.

Huge manganese value-add opportunity reiterated at Junior Indaba

Published: 22 May 24

The huge opportunity that South Africa has to add value to its rich endowment of manganese through local processing was reiterated during the second day of Wednesday’s Junior Indaba. “Specific to manganese, we’re certainly very bullish,” Manganese Metal Co (MMC) CEO Louis Nel said in response to questioning by Fluor sales director Kudakwashe Maramba during a panel discussion.

Anglo American chairperson Stuart Chambers

Anglo shoots down BHP’s third attempt, agrees to one-week extension

Published: 22 May 24

The world’s top diversified miner BHP has made a third unsolicited conditional takeover proposal for smaller rival Anglo American on Wednesday, only hours before its initial deadline for a firm intention to make an offer expired. The board of London-listed Anglo American rejected the latest proposal of £29.34 a share, but agreed to a one-week extension to the 'put up, or shut up (PUSU)' deadline under UK Takeover rules.

JSE primary markets business development manager Patrycja Kula-Verster

More funding mechanisms needed to support juniors in early stage exploration, panel says

Published: 22 May 24

South Africa needs more funding mechanisms to support junior mining at an early stage of exploration, Bedrock Capital CEO Messu Mwaniki said on May 21 at the Junior Indaba in Johannesburg. “I think by now we should have much more junior mining funds available, which can be seen to come on board, from a private equity perspective. As a junior miner, at best, your mindset should be on private equity,” he said.

Top Anglo investor says BHP bid requires 'meaningful revision'

Published: 22 May 24

South African state-owned asset manager the Public Investment Corporation (PIC) said on Wednesday that it would require a "meaningful revision" of BHP Group's bid for rival miner Anglo American. Anglo rebuffed BHP's initial $39-billion all-share proposal made on April 25, dismissing it as opportunistic. It subsequently rejected a revised offer of $43-billion saying the world's largest listed miner "continues to significantly undervalue" the company and that its difficult to execute.

West Coast diamonds events, excursion a success

Published: 22 May 24

The West Coast Diamond Event and Excursion, held on May 17 and 18 in Port Nolloth, in the Northern Cape, and hosted by the Geological Society of South Africa’s (GSSA's) Northern Cape branch, has been lauded as a “great success” with positive feedback received from attendees. This is according to the organiser Lisani Geological Services founder and MD Loni Gallant, who has two decades of mining industry experience throughout Africa. She is also the chairperson of GSSA’s Northern Cape branch.

Edison increases its valuation of Pan African despite lower production forecast

Published: 22 May 24

Analyst Edison Investment Research has increased its valuation of South African gold miner Pan African Resources to $0.48 a share, from $0.41 previously. London- and Johannesburg-listed Pan African earlier this month announced that it had revised its 2024 full-year production guidance to between 186 000 oz and 190 000 oz, compared with previous guidance of 180 000 oz to 190 000 oz, owing to it having ceased the processing of marginal surface sources at Evander Gold Mines.

Expert suggests new ways junior miners can classify resources

Published: 22 May 24

A key issue with all mineral projects is the quantification of risk and uncertainty, which has always been narrowed down to grade estimation issues; however, just basing the mineral resource category on drill spacing and a competent person’s judgment on resource boundaries is no longer good enough. Rather, it should be statistically based, since juniors could not afford to undertake vast amounts of drilling, EY natural resource principal technical consultant Andy Clay said during the Joburg Indaba, held on May 21 and 22.

Chinese coal group cuts 2024 output forecast

Published: 22 May 24

The deputy chairman of the China Coal Transportation and Distribution Association (CCTD) told a seminar on Wednesday that annual output growth would be in a range of -1% to 1% this year, having previously forecast expansion of 1%. China, the world's biggest coal producer, mined 4.66 billion metric tons of the fuel in 2023, up 2.9% year-on-year, according to the National Bureau of Statistics.

India's Vedanta Aluminium turning to renewables, not adding coal capacity, CEO says

Published: 22 May 24

Indian metals-to-oil conglomerate Vedanta's aluminium business will no longer add coal-fired capacity, its CEO said, in the company's biggest move yet toward renewable energy. Vedanta Aluminium, the country's biggest producer of the metal, aims to increase the share of renewable energy it is using to 30% by 2030 from nearly 5% now, John Slaven told Reuters in an interview.

Congo lawyers say received new evidence on Apple's minerals supply chain

Published: 22 May 24

International lawyers representing the government of the Democratic Republic of Congo said on Wednesday new evidence gathered from whistleblowers indicates that Apple is sourcing minerals from conflict areas in the east of the country. In a statement, the lawyers urged Apple to answer questions about its supply chain in the country, and said they were evaluating legal options. Apple did not immediately respond to Reuters request for comment.