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Tucumã on track for first copper in Q3, says Ero Copper

Published: 13 Jun 24

Toronto and New York-listed Ero Copper has been awarded an operational licence for the Tucumã project, in Brazil, passing the final permitting milestone for commercial operation. With physical completion at about 99%, commissioning well advanced and more than 90% of the operational staff hired and trained, Ero continues to expect its first copper concentrate early in the third quarter of 2024.

Demand for Krugerrands up as consumers diversify

Published: 13 Jun 24

Financial institution First National Bank (FNB) says it has seen strong demand from clients buying Krugerrands on its trading platforms as consumers embrace alternative asset classes to diversify their investment portfolios. Over the past year, FNB assisted with facilitating the delivery of over 2 200 Krugerrands on its trading platforms.

An image showing the Metalloys manganese alloy smelter

South32’s Samancor Manganese to sell Metalloys smelter to South African company

Published: 13 Jun 24

South32 subsidiary Samancor Manganese has entered into a binding agreement for the sale of the Metalloys manganese alloy smelter, in Gauteng, to Khwelamet, an entity jointly owned by Menar and Ntiso Investing Holdings. Completion of the transaction is subject to certain conditions, including competition approval and regulatory approvals, which are expected to occur in the second half of the 2025 financial year, at which time the buyer would assume the assets and liabilities comprising Metalloys.

Zimbabwe’s ferrochrome miners agree to build power plants

Published: 13 Jun 24

Zimbabwe’s ferrochrome miners, the nation’s biggest electricity consumers, have agreed to build their own power plants over the next two years as the government seeks to balance energy demand. Under the agreement, ferrochrome producers will in the meantime pay electricity tariffs that are little more than half the rate charged to other mining companies, according to state power utility Zesa Holdings.

New iron-ore exporter for Port of Esperance

Published: 13 Jun 24

The Port of Esperance, in Western Australia, is set to increase its iron-ore trade by 1.5-million tonnes a year, following a new agreement announced by Ports Minister David Michael. Gold Valley Iron Ore has secured access to essential iron-ore infrastructure at the port, marking the first time a second customer has been granted such access.

Fortescue loses another senior leader

Published: 13 Jun 24

Fortescue has confirmed the resignation of its director of global growth, Julie Shuttleworth, who previously served as group deputy chief executive and CEO of the green energy division. Shuttleworth first joined the Australian iron-ore miner in 2013. She became deputy CEO of the company in 2018, under former CEO Elizabeth Gaines who stepped down in 2021. The resignation is the latest in a series of high level executives leaving the company led by Andrew Forrest, which is attempting to transform into a global green energy firm.

Zambia to set up mineral investment and trading unit

Published: 12 Jun 24

Zambia will set up a new entity for investment and trading in minerals as it seeks to earn more from its natural resources, the Cabinet said on Wednesday after giving its approval. The government of Zambia, Africa's second largest copper producer which currently owns several mining assets through ZCCM Investment Holdings, will establish a special purpose vehicle (SPV) for investment and trading purposes, it said.

NRW acquires HSE mining contract and assets for A$85m

Published: 12 Jun 24

Perth-based civil and mining contractor NRW Holdings subsidiary Golding Contractors will acquire the mining services contract, associated fleet and transfer of employees from HSE Mining at coal miner Stanmore Resources’ South Walker Creek mine site. The transaction is at A$85-million less assumed employee liabilities of about A$15.3-million.

Reserve Bank concern about decline of public markets welcome development – Miller

Published: 12 Jun 24

The concern that South Africa’s Reserve Bank expressed last week on the state of this country’s public markets is seen as a welcome development by AmaranthCX director and public market promoter Paul Miller. Everything the Johannesburg Stock Exchange (JSE) has done has not been enough to change the downward trajectory.

Kinetiko secures A$4.9m

Published: 12 Jun 24

ASX-listed Kinetiko Energy’s renounceable pro-rata entitlement offer to eligible shareholders, announced in May, closed on June 11 and raised about A$4.9-million (before costs), with strong support from major shareholders and directors. The company is developing an energy transition solution for South Africa, focused on commercialising advanced shallow conventional gas projects in the country’s Mpumalanga province.