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Chinese miners see opportunities as BHP’s mega bid unfolds

Published: 02 May 24

China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP Group’s blockbuster $39-billion approach for rival Anglo American, potentially the largest mining deal in over a decade. The world’s top consumer of commodities including copper and iron-ore, China and its regulators play a key role in any global resources combination. In the aftermath of last week’s proposal, its mining companies are still trying to understand the exact configuration of a deal that is still in flux.

Lower prices impact on Tshipi mine’s profitability in Q3, but operational performance intact

Published: 02 May 24

Despite a 25% quarter-on-quarter and 11% year-on-year decrease in production in the quarter ended March 31, ASX-listed Jupiter Mines’ 49.9%-owned Tshipi é Ntle Manganese Mining subsidiary remains on track to achieve guided full-year volumes of between 3.3-million and 3.4-million tonnes of shipped ore. Quarterly production was 749 598 t.

SA mines get first look at private 5G in action

Published: 02 May 24

Fixed-wireless access provider Comsol has showcased the capabilities of private fifth-generation (5G) infrastructure to South African mining companies at its Midrand premises to demonstrate multiple indoor and outdoor use cases, with clients actively involved in the tests. Hosting immersive, practical private client days for the industrial and mining sectors, Comsol opened the doors for teams from various local mines to experience the potential and use cases of the relatively new technology in person.

Alrosa says output stable amid Western sanctions

Published: 02 May 24

Russian diamond miner Alrosa has no plans to reduce production amid tougher Western sanctions, its CEO Pavel Marinychev said on Thursday. The Russian finance ministry said last month that Russia will regularly buy diamonds from the sanctions-hit producer through a state fund, suggesting that Western restrictions on the country's diamond exports may be having some impact.

Pan American to sell La Arena stake to Zijin

Published: 02 May 24

NYSE- and TSX-listed Pan American Silver on Wednesday announced the sale of its interest in LA Arena in Peru to a subsidiary of Zijin Mining for up to $295-million. “With the sale of La Arena, we continue to deliver on our strategy to optimise our portfolio, following the Yamana transaction, while maintaining future upside through the retention of royalties,” said president and CEO Michael Steinmann.

Stillwater Critical Minerals raised C$3.89m in oversubscribed placement

Published: 02 May 24

TSX-V-listed Stillwater Critical Minerals has successfully completed C$3.89-million in a nonbrokered placement, surpassing expectations with a 55% oversubscription. Commodities powerhouse Glencore spearheaded the placement, with a substantial $2.1-million order.

South Africa's Mineral Resources and Energy Minister Gwede Mantashe

BHP woos South Africa in pursuit of $39bn Anglo takeover

Published: 02 May 24

BHP Group has deployed a team of senior executives to South Africa as the world’s largest miner ramps up efforts to win over government officials, regulators and local shareholders, all of whom could yet determine the outcome of its proposed tie-up with rival Anglo American. The executives have already begun conversations with key stakeholders, focusing on explaining the detail of the existing $39-billion proposal – currently back on the drawing board after it was rapidly rejected by its target – and its benefits, according to people familiar with the matter.

Brazil Potash aims to beat Russian, Canadian suppliers on price

Published: 02 May 24

The cost to produce potash from a mine being developed in the Brazilian Amazon will be similar to Russia's and lower than in No. 1 producer Canada, said the CEO of Brazil Potash, citing a third-party assessment used in a company presentation. The economics of the project -- which faced a protracted licensing process involving multiple government agencies and Indigenous consultations -- has drawn analysts' attention after the price of potash fell sharply from highs above $1 000 per metric ton amid the threat of sanctions against Russia and Belarus in 2022, compared to the current level just above $300.

Barrick’s Mark Bristow greets Tanzania Minerals Minister Anthony Mavunde at African training academy, which is augmenting the closing Buzwagi mine’s transformation into a 3 000-job-a-year special economic zone with airport terminal.

Discovery, development are mining’s only true value creation drivers, Barrick highlights

Published: 02 May 24

Discovery and development are the only true drivers of value creation in the mining industry, Barrick president and CEO Dr Mark Bristow highlighted on Wednesday, when this standout gold and copper mining company once again declared a dividend in reporting its first quarter results that position the company well to meet its full year targets. The year-on-year net earnings per share of the New York- and Toronto-listed company headed by South African-born Bristow increased by 143% for the quarter, while adjusted first-quarter net earnings per share grew by 36%. (Also watch attached Creamer Media video.)

Australia's second-largest pension fund blacklists thermal coal investments

Published: 02 May 24

Australian pension giant Australian Retirement Trust said on Thursday it would stop investing in most thermal coal companies from July as part of a plan to hit net zero emissions across its portfolio by 2050. The A$280-billion fund has introduced new rules to exclude any company which generates more than 10% of its revenue from the mining and sale of thermal coal, one of the most polluting energy sources.