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Zimbabwe to start gold-tracing system in bid to curb smuggling

Published: 21 May 24

Zimbabwe’s sole authorized buyer of gold will introduce a system that traces supply of the metal from mines to the market in a bid to stop smuggling. Fidelity Gold Refinery’s initiative will start on Sept. 30, General Manager Peter Magaramombe told miners Monday in the capital, Harare.

Reserve Bank warns carbon taxes may cut exports by 10%

Published: 21 May 24

South African economic growth could be severely stunted if carbon taxes are widely imposed on its exports, according to a new report by the country’s central bank. The South African Reserve Bank (SARB) said the hit could reach 10% of exports and more than 9% of gross domestic product in 2050 under a worst-case scenario in which carbon taxes are slapped on all exports by all trading partners. But it also found the impact could be much lighter, in a summary of several studies into the implications of the European Union’a new Carbon Border Adjustment Mechanism on South African exports.

Orange, Vodacom said in talks on African infrastructure deals

Published: 21 May 24

Vodacom Group is in discussions with France’s Orange about a strategic partnership in Africa to explore infrastructure deals to help keep down costs on the continent, people familiar with the matter said. The telecommunications companies are looking at agreements in overlapping markets including Egypt and the Democratic Republic of Congo, and reviewing where there are other opportunities to work together, said the people, who asked not to be identified because the discussions are private.

BHP shares hit 3-month high as deadline for formal Anglo bid looms

Published: 21 May 24

Shares of BHP Group touched a three-month high on Tuesday about 36 hours ahead of a deadline to lodge a formal bid for rival miner Anglo American, which last week rejected a sweetened $43-billion takeover proposal. The world's largest listed miner's shares are benefiting from good news including fresh stimulus for China's property sector, copper prices reaching record highs and a growing view that BHP will not make another tilt at Anglo, according to Andy Forster, senior investment officer at Argo Investments, a BHP shareholder.

Alpha HPA upsizes equity raising to A$175m

Published: 21 May 24

ASX-listed Alpha HPA on Tuesday upsized its equity raising to facilitate the development of its high-purity alumina (HPA) refinery in Gladstone, Queensland, to A$175-million. The company previously planned a A$120-million equity raising as part of a broader funding package for the Stage 2 project.

Lift-off for Cape Hardy green fuels project as Amp and Iron Road finalise commercial agreements

Published: 21 May 24

Canada-headquartered energy transition company Amp Energy has announced the development of the Cape Hardy Advanced Fuels Precinct, which entails green hydrogen, green ammonia and advanced fuel production in the Eyre Peninsula of South Australia. The project is coming to fruition as Amp Energy and ASX-listed Iron Road finalised commercial agreements for the purchase of 630 ha of land, a royalty structure and common-user infrastructure arrangements.

Kali Metals appoints new MD

Published: 21 May 24

ASX-listed Kali Metals has announced the appointment of Paul Adams as MD from July 1. He will take over the role currently held by Graeme Sloan, who will step down as MD, but remain with Kali in a nonexecutive director role.

The scheduled closure of Origin Energy's Eraring plant - Australia's biggest coal-fired facility - may lead to a generation shortfall.

Australian grid operator flags risk of power crunch in south-east

Published: 21 May 24

The chance of power shortages in Australia’s populous south-east has increased as coal-fired plants are phased out and grid and battery storage projects are delayed. Reliability risks have risen for Victoria and New South Wales through 2027-28, the Australian Energy Market Operator said Tuesday in an update of its Electricity Statement of Opportunities report. The advancement of generation and storage projects since the long-term outlook was published in August has lowered the risks after that.

Blackhawk has company-making potential, says Sierra Nevada chair

Published: 21 May 24

ASX-listed exploration company Sierra Nevada has unveiled a high-grade intercept of up to 1 270 g/t at its Blackhawk ephithermal project, in Nevada, US, and says it plans follow-up drilling in hole BHD006. The company previously identified a large and high-grade intermediate sulphidation epithermal gold/silver/lead/zinc vein system, likely related to a porphyry system located immediate south. Partially coincident with the porphyry system, the Blackhawk epithermal project vein system covers about 5 km2 and is open under cover to the north and north-east, with 22.5-line kilometres of veins identified to date.

MinRes’ Onslow Iron project surges ahead with early ore shipment to Baowu

Published: 21 May 24

Australian miner Mineral Resources (MinRes) has delivered the inaugural ore shipment from the Onslow Iron project to China Baowu Steel Group, outpacing expectations with an early arrival. The company highlighted in a statement on Tuesday the milestone, stating that two MinRes transhippers were loading about 113 000 wet metric tonnes of iron-ore onto a bulk carrier anchored 40 km off the Port of Ashburton.