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Madison begins drilling at Namibian uranium project

Published: 23 May 24

Toronto-based Madison Metals has started its maiden 2024 drill programme at the Khan project at Madison West in Namibia’s Erongo uranium province. In April, the company announced that it had embarked on a mapping programme ahead of the drill programme, which consisted of infill geological mapping, along with ground scintillometer and spectrometer surveys over several Anomaly 5 drill targets.

Russia's Nornickel board proposes no dividend for 2023 results

Published: 23 May 24

The board of Russian metals and mining giant Nornickel recommended no dividend on its 2023 results, a year when the company faced significant pressure from sanctions restrictions and geopolitical challenges, Nornickel said on Thursday. Disagreements on dividends have for years been the main reason for on-and-off rows between Nornickel's main owners, CEO and largest shareholder Vladimir Potanin and aluminium producer Rusal.

Activist investor asks Rio Tinto to give up its primary London listing

Published: 23 May 24

A UK-based activist investor has called for Rio Tinto to abandon its London listing and unify its corporate structure in Australia instead, the Financial Times reported on Thursday. Palliser Capital, which has taken up a stake in Rio Tinto, said that the metals and mining behemoth's dual corporate structure is a "barrier to its strategic plans, which made it difficult to do major acquisitions," the FT reported.

Pakistan coal miners face expansion issue as China stops funding

Published: 23 May 24

Chinese and other major lenders are increasingly reluctant to invest in Pakistan’s expansion of coal mines, according to the head of a local producer. “The real challenge for us is financing,” Amir Iqbal, CEO of Sindh Engro Coal Mining Co., said in an interview in Islamabad, mentioning China among the backers that have withdrawn their support.

Green hydrogen must be allowed to decarbonise optimally, Junior Indaba hears

Published: 23 May 24

Green hydrogen must be made cheap enough to decarbonise optimally at a time when the delay in emission reduction needs to be reversed if the world is to hit net zero by 2050. A range of factors need to be aligned relating to policy, technology, the circular economy, social buy-in and primary supply.

Speakers who participated in a Mine Water webinar hosted by Creamer Media.

Speakers highlight focus areas to tackle mine water challenges

Published: 23 May 24

South Africa has made considerable strides in addressing mine water challenges; however, it is imperative that these efforts are bolstered and improved upon, through aligning research with implementation, ensuring that the correct processes are in place and adapting the regulatory environment to be more conducive for the reuse and management of mine water. This was highlighted by speakers participating in Creamer Media’s Mine Water webinar, held on May 22.

PGM prices impact on Tharisa’s first-half profit, but market fundamentals are ‘solid’

Published: 23 May 24

JSE-listed platinum group metals (PGM) and chrome producer Tharisa has reported a 20% year-on-year decrease in net profit after tax, at $38.8-million, for the six months ended March 31, compared with the $54.7-million net profit reported for the six months ended March 2023. The group declared an interim dividend of $0.015 apiece, compared with $0.03 apiece in the prior comparable period.

Hudbay upsizes bought-deal offering

Published: 23 May 24

Base metals company Hudbay Minerals has increased the size of its previously announced equity offering from $300-million to $350-million. Underwriters will now buy 36.84-million shares at $9.50 each in the bought-deal offering.

Faraday Copper raises C$20m

Published: 23 May 24

Canadian company Faraday Copper on Wednesday announced a C$20-million bought-deal financing to advance the exploration and development of its Copper Creek project, in Arizona, US. Faraday entered into an agreement with Ventrum Financial Corp as co-lead underwriter and joint bookrunners for the purchase of 25-million shares at C$0.80 a share.

Petra signs PPAs to procure wheeled renewable energy for Cullinan, Finsch

Published: 23 May 24

Diamond producer Petra Diamonds has entered into long-term power purchase agreements (PPAs) for the procurement of wheeled renewable energy for its Cullinan and Finsch diamond mines from licenced South African energy trader Etana Energy. Etana provides cost-competitive clean energy from new large-scale renewable energy projects, mostly wind-based, through wheeling over the existing South African grid. The company has a portfolio of multiple ready-to-build and grid-secured wind and solar projects that are expected to come online over the course of 2025 and 2026.