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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 Canada’s Athabasca basin, following a strategic review of its project portfolio. The review highlighted a compelling case for prioritising uranium, leading Thunderbird to discontinue its lithium ventures in Ontario.

Kizito Pakabomba was appointed to oversee the Mines Ministry and Congo's globally significant reserves of coltan, copper and other minerals.

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 has mired the country in political uncertainty for months. President Felix Tshisekedi won a second term after elections in late 2023 that also handed his Sacred Union coalition a large majority in parliament. But internal jostling for jobs has delayed the formation of a new cabinet of ministers.

China’s silver imports set to jump as solar demand lifts prices

Published: 29 May 24

Chinese silver imports could surge in coming weeks, as traders take advantage of a jump in demand that’s taken prices well above the international market. Silver’s in a sweet spot because of its dual uses as an industrial metal and a financial asset. It’s an important material in solar panels, which China continues to build in vast quantities, and it’s also a cheaper alternative to gold, which is setting its own records on price led by Chinese demand.

Mongolia defends plan to tap mining riches for new sovereign wealth fund

Published: 29 May 24

Mongolia’s prime minister defended changes to the country’s mining laws after foreign investors raised concerns they could deter investment in its large reserves of critical minerals, including those used in electric vehicle batteries and other new energy technologies. Legislative amendments to restrict private investment in strategic deposits and give the government free shares in mining projects will ensure the Mongolian people benefit from the country’s substantial resources, Prime Minister Oyun-Erdene Luvsannamsrai said in an email to Bloomberg News last week.

Anglo American's head office in South Africa

BHP, Anglo dig in even as takeover talks deadline nears, sources say

Published: 28 May 24

BHP was struggling to find common ground with Anglo American on Tuesday in talks over its takeover offer, with no new concessions as a deadline nears for the world's biggest miner to submit a binding offer, five sources said. Anglo granted its bigger rival a one-week extension until 1600 GMT on Wednesday to its original May 22 deadline to submit a binding offer, after rejecting a third takeover proposal that had been dismissed as difficult to execute. It agreed to hold talks with BHP to iron out contentious issues over the structure of the deal.

Marula reports high-grade manganese assays from testwork with potential offtaker

Published: 28 May 24

UK- and South Africa-listed battery metals miner Marula Mining has reported average grades of 35.73% from manganese samples taken from the Larisoro manganese mine, in Kenya. The company garnered 18 samples from stockpiled material which will soon be railed to the port of Mombasa for export.

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.

Dr Vincent Maphai (left) and Neal Froneman.

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.

An image of Ivanhoe founder and executive co-chairperson Robert Friedland

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.

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.