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Newmont beats quarterly profit estimates on higher production

Published: 25 Apr 24

Newmont beat Wall Street estimates for first-quarter profit on Thursday, as the world's largest gold miner benefited from strong production. On an adjusted basis, the company posted a net income of 55c a share for the quarter ended March 31, compared with the average analyst estimate of 36c a share, according to LSEG data.

Newmont sells gold stream to Lundin for $330m

Published: 25 Apr 24

Leading gold miner Newmont has finalised the sale of a stream credit facility and offtake agreement for the Fruta del Norte gold mine, in Ecuador, to Lundin Gold for $330-million. The agreement, unveiled on Thursday, forms part of Newmont’s ongoing efforts to monetise noncore assets following its acquisition of Newcrest in 2023.

Energy transition will take place in different ways at different rates in different regions

Published: 25 Apr 24

The energy transition – from high carbon-emitting energy sources to low and zero carbon-emitting energy sources – will vary across different regions and countries, pointed out TotalEnergies VP supply logistics Africa Sebastien Bariller. He was participating in a panel discussion at the 2024 African Refiners and Distributors Association conference, in Cape Town. The speed of the transition will also vary from region to region. There were three challenges involved in the energy transition, he cited. These were – ensuring that the world’s growing population had access to affordable energy; ensuring energy security; and ensuring safe and cleaner energy.

Biden administration aims to clean up power sector with revamped rules

Published: 25 Apr 24

The Biden administration on Thursday announced it has finalised rules targeting carbon, air and water pollution from power plants that it says could cut over one-billion metric tons from carbon emissions by 2047 even as demand for electricity grows. The Environmental Protection Agency tightened a proposal to slash carbon emissions from existing coal and new gas plants, and updated and finalized long-standing rules to reduce mercury and toxic air pollutants and clean up wastewater and coal ash discharge.

Blackwater on track for first gold pour in H2 – Artemis

Published: 25 Apr 24

Construction of the Blackwater mine, in central British Columbia, is continuing to progress on schedule, keeping the mine on track for its first gold pour in the second half of the year. At March 31, overall construction was about 73% complete and about C$523-million of the guided capital budget of C$730-million to C$750-million had been spent, TSX-V-listed Artemis Gold reports.

Minerals Council South Africa CEO Mzila Mthenjane.

How 30 years of democracy has transformed South Africa's mining industry

Published: 25 Apr 24

South Africa’s 30 years of democracy has changed the character of this country’s mining industry profoundly, Minerals Council South Africa emphasised in a report that highlights the industry’s significant advance since the dawning of democracy in 1994. Importantly, South Africa’s highly regarded mine employees earn among the most competitive wages in the major job sectors, with tens of thousands of employees now direct partners in mining companies through employee share ownership programmes and profit-sharing schemes.

Vale expects to reach final agreement for Mariana dam reparations in first half of year

Published: 25 Apr 24

Mining company Vale expects to reach a final agreement with authorities for reparations for the collapse of the Samarco tailings dam by the end of the first half of this year, the company told Reuters in a statement on Wednesday. The collapse of the dam, which belonged to Samarco, a joint venture of Vale and BHP and located in the southeastern city of Mariana, caused a giant mudslide that killed 19 people and severely polluted the Rio Doce river, compromising the waterway to its outlet in the Atlantic Ocean.

Congo questions Apple on concerns about use of conflict minerals

Published: 25 Apr 24

The Democratic Republic of Congo’s government notified Apple of concerns that the company’s supply chain may be tainted by conflict minerals sourced from the central African nation. A group of international lawyers engaged on behalf of the Congolese State sent a list of questions to the US tech giant on April 22 and demanded answers within three weeks, according to a statement published on the website of lawyer Robert Amsterdam on Thursday. The statement coincided with the release by the law firm of a report accusing neighbouring Rwanda of laundering tin, tungsten and tantalum — known as 3T minerals — and gold from Congo.

Teck increases copper production with QB ramp-up

Published: 25 Apr 24

Canadian mining group Teck Resources has increased its copper production by 74% to 99 000 t in the first quarter, as output increased at the newly-built QB mine, in Chile. The Antamina mine, in Peru, and Highland Valley Copper mine, in Canada, also had a strong performance, Teck reported on Thursday.

Panellists who participated in the webinar are (from left) Mining Equipment Manufacturers of South Africa CEO Lehlohonolo Molloyi, Multotec CEO Thomas Holtz, Simera Trace technical director Kevin O'Neill, Epiroc digital solutions buisness line manager Vikesh Chiba and South African Capital Equipment Export Council CEO Eric Bruggeman.

Creativity, innovation keep South Africa’s mining tech manufacturing industry competitive

Published: 25 Apr 24

An admirable degree of creativity exists within the South African mining technology and equipment manufacturing sector, giving manufacturers the necessary flexibility to weather the significant challenges over the past few years, Mining Equipment Manufacturers of South Africa CEO Lehlohonolo Molloyi has said. He was speaking as part of a panel in a webinar hosted by Creamer Media and sponsored by ABB, AECI Mining, Astron Energy and Epiroc, on April 24.