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Chile copper output edges down in March, dragged by Codelco

Published: 13 May 24

Copper output in Chile, the world's largest producer of the metal, edged down in March, data from copper commission Cochilco showed on Friday, as production slid at state-run miner Codelco but rose at other major mines in the country. Output at Codelco, the top global supplier of the red metal, slid 10.1% to total 107 300 t in March, while at the BHP-controlled Escondida mine, which holds the world's largest known deposit, output rose 9.7% to reach 101 400 t.

OceanaGold Philippines' shares decline in early trades on market debut

Published: 13 May 24

Gold miner OceanaGold Philippines' shares fell as much as 6% below their initial public offering (IPO) price in the first 15 minutes of trading on their market debut on Monday. The shares opened at 13.34 pesos ($0.2314) a touch above their IPO price of 13.33 pesos, but subsequently lost ground.

Stranded coal ship leaves Port of Baltimore amid work to clear main channel

Published: 13 May 24

coal ship stranded at the Port of Baltimore set sail for Singapore this week as crews work to remove the Dali container ship that crashed into the Francis Scott Key Bridge, causing it to collapse and block access to the port. The Liberian-flagged JY River exited the port via a temporary channel on Thursday, according to LSEG data and a source familiar with the ship's movements.

Anglo investors tell company to move faster to survive BHP bid

Published: 13 May 24

Anglo American’s shareholders are pushing the company to speed up the release of its turnaround plan as the 107-year-old miner seeks to present an alternative to BHP Group’s takeover bid. Anglo has been reviewing its business since mid-2023, looking at every mine in its portfolio to help reshape a company that’s fallen behind competitors in recent years. Yet that process was broadsided by a takeover approach last month from the world’s biggest miner.

Miners seek exemption from Canadian tax hike to save equity deals

Published: 13 May 24

Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains taxes, warning the hike will make it harder for junior miners to raise money to find new mineral deposits. Finance Minister Chrystia Freeland’s new budget includes a measure to raise the capital gains tax inclusion rate to two-thirds from one-half. It applies to all gains made by corporations and trusts, and to individual taxpayers on gains over C$250 000 in a year.

AngloGold starts year with 2% higher output despite flooding in Australia

Published: 10 May 24

Gold miner AngloGold Ashanti has started the year off well, with a 2% increase in production to 581 000 oz for the quarter ended March 31, despite the impact of heavy rain and flooding on output in Western Australia. CEO Alberto Calderon says the company is seeing greater consistency from most of its operations, including better performance from its Brazilian mines, while the Obuasi mine, in Ghana, continues to ramp up.

Traxtion refurbishes, adds 5 Transnet class 39 locomotives to fleet of 60 in eight African countries

Published: 10 May 24

Private rail operator and services company Traxtion has refurbished five class 39 locomotives it bought from State-owned Transnet at its workshop in Rosslyn, Gauteng. This is part of its fleet expansion to meet the growing demand of freight rail services in Africa. "Traxtion is preparing for the next phase of adding new locomotives to the fleet. We now have a fleet of 60 locomotives and are operating in eight African countries," the company said in a statement this week.

St Barbara’s decade-long vision for Simberi

Published: 10 May 24

Australian gold miner St Barbara has crafted a roadmap for the advancement of the Simberi mine, in Papua New Guinea, outlining production scenarios aimed at elevating output to about 230 000 oz/y through to 2034. The concept study scrutinised six different cases, comprising two flowsheet options with three different processing rates.

Aluminium vehicle body panels in an assembly plant

Logistics, NEVs in focus for next phase of automotive industry growth

Published: 10 May 24

Efficient logistics to move vehicles and automotive components up and down the value chain and adapting the local industry to new energy vehicles (NEVs) is crucial to shape the trajectory of the industry into the future, industry development agency Automotive Industry Development Centre (AIDC) chairperson Meloney van Eck said this week. Speaking at a Gauteng government- and AIDC-hosted automotive industry roundtable discussion, in Midrand, on May 9, she said it was important for industry leaders and experts to discuss logistics in the automotive sector and to explore the growing NEV landscape to shape the way forward for the industry.

South Africa to host twelfth Africa Aerospace and Defence exhibition in Sept

Published: 10 May 24

The Africa Aerospace and Defence (AAD) trade exhibition and air show will be held from September 18 to 22 at Air Force Base Waterkloof, under the theme of ‘Exploring new paths, sharing solutions, showcasing innovation and capability’. More than half of the available exhibition space has already been booked and confirmed, which reflects a significant vote of confidence in the event that has continued to record success, the AAD said in a statement.