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Indonesia imposes 7.5% export tax on copper concentrate shipments

Published: 04 Jun 24

Indonesia will impose a 7.5% export tax on shipments of copper concentrate, effective immediately, a finance ministry regulation showed on Tuesday, applicable to the two mining firms currently exempt from its ban on raw copper exports. Indonesia has outlawed shipments of raw copper since June 2023, but authorities have permitted Freeport Indonesia and Amman Mineral Internasional to continue exporting until the end of 2024 to give them more time to complete construction of their copper smelters.

Australia exploration results: It’s costing more to do less

Published: 04 Jun 24

Mineral exploration expenditure in Australia reached A$910.4-million in March, figures released by the Australian Bureau of Statistics (ABS) on Tuesday show. Expenditure on greenfield exploration to discover new deposits decreased by 23.1% to A$278.6-million, while brownfield exploration decreased 16% to A$631.8-million.

Diamond transparency from mine to finger is on way from Petra

Published: 04 Jun 24

Traceability is becoming an increasingly important part of the natural diamond industry, specifically in terms of being able to verify provenance or origin. G7 sanctions being applied also make traceability technology more important.

Volvo to issue world's first EV battery passport ahead of EU rules

Published: 04 Jun 24

Volvo Cars is launching the world's first EV battery passport recording the origins of raw materials, components, recycled content and carbon footprint for its flagship EX90 SUV, which is about to start production, the Swedish automaker told Reuters. The passport was developed by Volvo, which is owned by China's Geely, in partnership with UK startup Circulor, which uses blockchain technology to map supply chains for companies, and took over five years to develop.

An image showing operations at Hummingbird's mine in Mali

Hummingbird bolstered by strong Mali performance, weathers Guinea challenges

Published: 04 Jun 24

Aim-listed Hummingbird became a multi-asset, multi-jurisdiction gold producer in the full -year to December 31, with its Yanfolila mine, in Mali, performing strongly and meeting guidance, and the group achieving first gold production at Kouroussa mine, in Guinea, despite facing challenges in the ramp-up of mining operations, CEO and interim chairperson Dan Betts avers. Yanfolila met its production guidance, producing 83 965 oz of gold at an all-in sustaining cost of $1 331/oz sold, which has been adjusted under accounting measures.

GDP decreased by 0.1% in the first quarter

Published: 04 Jun 24

South Africa’s GDP decreased by 0.1% in the first quarter of this year, Statistics South Africa reports. The manufacturing industry decreased by 1.4% in the first quarter, contributing -0.2 of a percentage point to the negative GDP growth. Five of the ten manufacturing divisions reported negative growth rates in the first quarter.

Equinox Gold launches ‘Ride to Greenstone’ fundraiser

Published: 04 Jun 24

Canadian gold miner Equinox Gold has launched the ‘Ride to Greenstone’, a 3 634 km bike relay from Vancouver, British Columbia, to Geraldton, Ontario, to celebrate the official opening of the new Greenstone mine. The focus of the ride is to raise money for the Geraldton District Hospital, which serves a 2 767-km2 region in northern Ontario, including five Indigenous communities and the Greenstone mine workforce.

Glencore’s Adamson joins Stillwater Critical Minerals board

Published: 04 Jun 24

TSX-V-listed Stillwater Critical Minerals has announced the appointment of Bradley Adamson as an independent director. Adamson, a veteran resources industry professional with more than 25 years of global experience focused on nickel and cobalt, joins the Stillwater board as Glencore’s appointee.

Deep Yellow selects Ausenco as preferred EPCM contractor for Tumas

Published: 04 Jun 24

ASX-listed Deep Yellow has selected contractor Ausenco Services to deliver detailed engineering and engineering, procurement and construction management (EPCM) services for the company’s flagship Tumas uranium project, in Namibia. It is intended that an EPCM commercial agreements and contracts award for detailed engineering will be finalised over the coming months, following a final investment decision (FID).

An image showing Pan African's Barberton mine

Pan African concludes 5-year wage agreement at Barberton Mines, ESOP matures

Published: 04 Jun 24

JSE-listed Pan African Resources has concluded a milestone five-year wage agreement for increases and other conditions of service with the National Union of Mineworkers (NUM), the representative union for Category 4 to 8 bargaining unit employees, at its Barberton Mines operations. The agreed increases for the period June 1, to June 1, 2029, amounts to an average yearly increase of about 5.3% a year over the five-year period.