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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.

Opinion: The MPRDA and its impact on future mining investments in South Africa

Published: 02 May 24

In this article, Webber Wentzel partner Bruce Dickinson writes that the implications of the Mineral and Petroleum Resources Development Act (MPRDA) on investment dynamics in South Africa have come under scrutiny.

Barrick Gold beats estimates for quarterly profit

Published: 02 May 24

Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has entered into an exploration partnership with Geophysx Jamaica. Prices of the precious metal rose about 8.2% to $2 231/oz in the January-March quarter, on buying from central banks and hopes the US Federal Reserve could cut interest rates as early as June.

BHP is betting on developing the Reko Diq copper project in Pakistan

Barrick Gold is not interested in bidding for Anglo American, CEO says

Published: 02 May 24

arrick Gold is not interested in bidding for Anglo American, which last week received a $39-billion takeover offer from BHP, and is building its own copper portfolio, the Canadian miner's CEO Mark Bristow said on Wednesday. If BHP's proposed acquisition of Anglo is successful, it would create one of the world's biggest copper miners.

Rick Menell joins Perseus board as nonexec director

Published: 02 May 24

Mining veteran Rick Menell has joined the board of Africa-focused gold producer Perseus Mining as a nonexecutive, independent director. "I am extremely pleased to welcome Rick Menell to the board of our company. Rick is a very high calibre individual whose diverse work and life experiences will bring new perspectives that will be invaluable in helping Perseus reach its full potential. "His deep understanding of the people and the mining industry on the African continent is perfectly suited to joining the leadership team of a growing, Africa-focused company like Perseus, that has ambitions to become a leader of the gold mining industry on the continent," says Perseus chairperson and CEO Jeff Quartermaine.

Barrick moves to tap into Jamaica’s mineral potential

Published: 02 May 24

Gold and copper major Barrick is set to venture into Jamaica’s untapped minerals landscape through an earn-in agreement with private exploration company Geophysx. Geophysx has strategically amassed an extensive portfolio of exploration assets across Jamaica, which Barrick CEO Mark Bristow considers “significantly underexplored and prospective”.

A smelter owned and operated by Ironveld

Ironveld appoints Kristoffer Andersson CEO

Published: 02 May 24

London-listed Ironveld, which owns a high-purity iron, vanadium and titanium project on the northern limb of the Bushveld Complex, in Limpopo, South Africa, has appointed Kristoffer Andersson CEO. He succeeds Martin Eales, who stepped down as CEO in February.