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Globe says Kanyika capital funding requirements finalised at $46m
Published: 28 May 24
Australia-listed Globe Metals and Mining has reported that capital funding requirements for Phase 1 project development at its Kanyika Niobium project, in Malawi, have been finalised at an estimated $46-million, inclusive of a 25% project contingency allocation. The company says the Phase 1 project development plan is confirmed with a clear path to project construction.
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Measures to address loss-making assets expected to secure R6.6bn, Sibanye AGM hears
Published: 28 May 24
The measures that green metals and gold mining company Sibanye- Stillwater has taken to address loss-making assets are expected to secure yearly savings and capital expenditure deferrals of R6.6-billion, chairperson Dr Vincent Maphai told the online AGM of the platinum group metals major on Tuesday. The focus of the Johannesburg- and New York-listed Sibanye-Stillwater is on strategic essentials, which Maphai highlighted as being a reduction of operating and capital costs as well as the improvement of efficiencies.
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sibanye-stillwater dr vincent maphai neal froneman
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Nedbank, Transnet mediation over swaps terminated
Published: 28 May 24
Mediation between financial services group Nedbank and State-owned Transnet, in respect of interest rate swap transactions (swaps) between the parties that took place in December 2015 and March 2016, and which have been widely reported in the media for many years, has ended after it became apparent that there is no likelihood of resolving the matter amicably despite extensive engagements, Nedbank informs in a statement. Nedbank says it participated in the mediation process, which was a confidential, facilitated negotiation, in an attempt to resolve the dispute between the parties amicably and to avoid potentially drawn-out and costly litigation, for both parties, over transactions which Transnet regards as tainted by corruption.
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Ivanhoe completes Phase 3 concentrator construction at DRC project ahead of schedule
Published: 28 May 24
TSX-listed Ivanhoe Mines announced that, on May 26, first ore was fed into the Phase 3 concentrator at the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC). First ore marks the completion of construction of the Phase 3 concentrator, which has been achieved months ahead of schedule and on budget.
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Jupiter forecasts higher manganese prices in coming months
Published: 28 May 24
ASX-listed Jupiter Mines marketing head Tracey Cloete says manganese ore prices are likely to trade higher than the historical average in coming months owing to supply disruptions. Jupiter has a 49.9% interest in the Tshipi manganese mine, in South Africa.
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Oil and gas industry body shines spotlight on Angolan market
Published: 28 May 24
The African Energy Chamber (AEC) has highlighted the opportunities provided by Angola’s oil and gas industry. The Chamber points out that oil and gas forms the lynchpin of the Angolan economy and that, since 2017, it has been subject to “aggressive reform”. Since 2019, the country has been undertaking multiyear licensing rounds for offshore blocks for both oil and gas exploration and production, open to foreign enterprises. So far, this policy has seen the awarding of more than 27 such blocks. The most recent of these rounds saw 53 bids for 12 blocks in the Lower Congo and Kwanza basins. The AEC is particularly urging multinational exploration and production, and technology, companies to invest in Angola. The organisation points out that the West African country plans to keep its oil production running at 1.1-million barrels per day (bpd) until 2027. After that, production will be stepped up to more than 2-million bpd, to boost economic growth.
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Firebird receives safety permit for Chinese project
Published: 28 May 24
ASX-listed Firebird Metals’ subsidiary Hunan Firebird Battery Technologies has received a safety permit for Stage 1 of a proposed battery-grade manganese sulphate plant in China. The plant will use third-party manganese ore to produce high-purity manganese sulphate.
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Capital reveals 19% emissions reduction in inaugural sustainability report
Published: 28 May 24
London-listed mining services company Capital has published its inaugural Sustainability Report for the year ended December 31, 2023, wherein it is revealed that the group managed to reduce its overall Scope 1 and 2 emissions by 19%. “I . . . introduce our first standalone sustainability report for 2023, demonstrating sustainability progress made across the group and providing greater transparency with respect to our [environmental, social and governance] performance.
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Lucapa, partners recover 195 ct diamond from Lulo
Published: 28 May 24
ASX-listed Lucapa Diamond Company and its Lulo alluvial mine partners Endiama and Rosas and Petalas have announced the recovery of a 195 ct Type IIa diamond from the Lulo mine, in Angola. The diamond is the sixth-largest to be recovered from the Lulo alluvial operations since mining started in 2015.
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Published: 24 May 24
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Published: 24 May 24
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Published: 24 May 24
Ramp up activities at the Thunderbird mineral sands mine, in Western Australia, are progressing well, with the new mine moving towards nameplate...
Thunderbird shifts focus to high-potential Canadian uranium, drops lithium
Published: 29 May 24
Exploration company Thunderbird Resources on Wednesday announced its decision to concentrate all efforts on the high-potential uranium assets in...
DR Congo names new government after months of delay
Published: 29 May 24
Democratic Republic of Congo has appointed a new government, spokesperson Tina Salama said in the early hours of Wednesday, ending an impasse that...
