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Poseidon restarts Lake Johnston exploration after sales process ends

Published: 17 May 24

ASX-listed Poseidon Nickel is getting back to exploration at the Lake Johnston project, in Western Australia, following a four-month hiatus while focusing on a sales process. Now that the heads of agreement to sell Lake Johnston to fellow listed Mineral Resources (MinRes) was terminated by the prospective buyer, Poseidon has restarted field activities.

AIC granted Jericho mining lease

Published: 17 May 24

The Queensland government has granted AIC Mines a mining lease for the Jericho copper mine, paving the way for surface works to get under way in preparation for mining. Development of Jericho will transform the Eloise mine, near Cloncurry, into a cornerstone asset for AIC Mines, providing a pathway to expanding production to 20 000 t/y of copper and 10 000 oz/y of gold in concentrate.

Muddy Waters will not compensate its nominees on Canadian miner Mayfair as shareholder vote looms

Published: 17 May 24

hort seller Muddy Waters Capital said on Thursday that none of its newly proposed directors for Canadian miner Mayfair Gold's board will receive any remuneration, in contrast to what it called the "inappropriate compensation" earned by the company's existing directors. Muddy Waters is seeking to replace Mayfair Gold's current board and replace its members with Muddy Water executives, saying the board was delaying the advancement of its key Fenn-Gib gold project and calling out the company's compensation structure.

US to offer up to $3.4bn for Nuclear fuel makers in June

Published: 17 May 24

The US plans to start soliciting bids worth as much as $3.4-billion to buy domestically produced nuclear reactor fuel as soon as next month, according to a government notice. The funding includes $2.7-billion requested by the White House as part of a broader plan to help restart the domestic nuclear fuel production industry through direct purchases of the low-enriched uranium used in reactors. The government aid was unlocked after President Joe Biden signed a ban on imports of enriched uranium from Russia, which provides about a quarter of the reactor fuel in the US, making it the nation’s top supplier.

Biden open to easing sanctions on billionaire Gertler in return for Congo exit

Published: 17 May 24

The US government is open to easing sanctions on billionaire mining magnate Dan Gertler if he gives up his business operations and assets in the Democratic Republic of Congo, where Washington’s interest in critical minerals has run up against his problematic royalties ownership. The Treasury Department is willing to grant limited sanctions relief to Gertler, an Israeli citizen, as a way to incentivize his complete exit from Congo, including relinquishing his royalty streams on three strategic projects, according to two US officials, who asked not to be identified as the talks are ongoing.

Polyhalite produced at Anglo American's Woodsmith mine

Anglo American has sought fertiliser partners for months, says CEO

Published: 17 May 24

Anglo American has been looking for partners for its fertiliser project in North Yorkshire for around six months, CE Duncan Wanblad told Reuters, reiterating the business will be one of three pillars of the revamped miner, even as work there stalls. The London-listed miner outlined a radical plan on Tuesday to shrink by divesting less profitable coal, nickel, diamond and platinum businesses, as it moves to fend off BHP Group's $43-billion takeover offer.

Chile's Cochilco raises 2024, 2025 copper price estimates

Published: 17 May 24

The Chilean Copper Commission (Cochilco) on Thursday raised its average copper price estimates for both this year and next. Cochilco now sees average copper prices this year at $4.30/lb, from $3.85/lb before. For next year, Cochilco estimates average copper prices around $4.25/lb, up from $3.90/lb before.

Mining-focused manufacturers see innovation as key to survival and future growth

Published: 17 May 24

Amid the challenges of loadshedding, logistical constraints and volatile commodity prices, South Africa’s mining-focused manufacturers and equipment suppliers view ongoing innovation, including embracing digitalisation and artificial intelligence (AI), as increasingly central to their survival and future growth. Mining Equipment Manufacturers of South Africa (Memsa) CEO Lehlohonolo Molloyi describes local manufacturers in the sector as “resilient” and responsive to the needs of the sector, highlighting in particular how innovation has played a central role in improving the domestic mining sector’s once-dismal safety record.

COUNTRY BOOST The aim of this new Zambia Country Strategy Paper is to support Zambia’s vision of speeding up its socioeconomic transformation to improve livelihoods

AfDB approves strategy paper

Published: 17 May 24

Earlier last month, the board of directors of the African Development Bank (AfDB) Group approved the Country Strategy Paper (CSP) for Zambia for 2024-2029, which sets out two priority intervention areas, including boosting the development of the private sector through investments in infrastructure and developing the country’s agricultural value chain. “The aim of this new CSP is to support Zambia’s vision of speeding up its socioeconomic transformation to improve livelihoods,” says AfDB Zambia country office head Raubil Durowoju.

The above image depicts Ndalamo Resources FD Mpho Nkhumeleni

Potential for growth for midtier miners

Published: 17 May 24

Following the recent 2024 State of the Nation Address (Sona) and Budget Speech coal producer Ndalamo Resources believes that there is the potential for growth and resilience among midtier mining companies. “These speeches underscored key points directly affecting our sector. Firstly, the government's pledge to address the energy crisis, notably loadshedding, is paramount for mining,” explains Ndalamo Resources FD Mpho Nkhumeleni.