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Booming Harmony ups full-year output and grades; lowers cost and capital guidance

Published: 30 Apr 24

Execution and preparatory work on key gold projects are on track in South Africa, and early works on the copper project in Australia are to commence, Harmony Gold reported on Tuesday. In South Africa, the Moab Khotsong gold mine extension and the Mine Waste Solutions development are on track, along with preparatory work being under way at Mponeng; in Australia, early works are ready to commence at the Eva copper project.

Anglo American takeover price needs to surpass £30 a share, survey shows

Published: 30 Apr 24

A takeover of Anglo American would need to be pitched at more than £30 ($37.6) a share, a higher price than BHP Group offered last week, according to analysts and traders surveyed by Bloomberg. Anglo American shares are trading above the value of BHP’s rebuffed $39-billion takeover proposal, a sign traders are also expecting a higher bid. The premium has increased since Bloomberg News reported over the weekend that BHP is considering making an improved proposal.

Central banks, record first-quarter over-the-counter purchases support gold demand

Published: 30 Apr 24

Continued exchange-traded fund (ETF) outflows drove gold demand, excluding over-the-counter (OTC) purchases, down by 5% year-on-year in the first quarter of this year to 1 102 t. However, including sizeable OTC purchases by investors, total gold demand increased by 3% year-on-year to 1 238 t, which the World Gold Council (WGC) says is the strongest first quarter for gold demand since 2016.

Mosaic sells stake in Saudi JV for $1.5bn

Published: 30 Apr 24

US-based fertiliser company Mosaic on Tuesday announced the sale of its stake in a phosphate production venture to Saudi Arabia’s Ma’aden. Mosaic will receive 111.01-million shares of the Saudi Arabian mining company, valued at about $1.5-billion, for its 25% stake in the Ma’aden Wa’ad Al Shamal Phosphate Company (MWSPC).

Resolute reports 'promising' start to 2024, despite lower first-quarter output

Published: 30 Apr 24

ASX- and LSE-listed Resolute Mining poured 76 351 oz of gold in the first quarter of this year, compared with the 80 037 oz poured in the fourth quarter of 2023. Despite the lower production, CEO and MD Terry Holohan says it has been a "promising" start to the year for the gold producer, with all operations performing in line with expectations.

NBI launches pragmatic Just Energy Transition Skilling for Employment Programme

Published: 30 Apr 24

With skills having been identified as a key cross-cutting requirement for the Just Energy Transition Implementation Plan (JET-IP), the National Business Initiative (NBI), together with the Presidency’s JET project management unit (JET PMU) and Boston Consulting Group, have launched the JET Skilling for Employment Programme (JET SEP). South Africa has an opportunity to unlock 20% more of its current gross domestic product through green initiatives, which will need between 150 000 and 200 000 direct jobs by 2025, and between 350 000 and 400 000 jobs by 2050, related to solar photovoltaic, wind and battery storage technology installations, NBI CEO and JET SEP steering committee member Shameela Soobramoney pointed out during an April 29 briefing.

Sandfire driving forward Black Butte

Published: 30 Apr 24

Australia-headquartered miner Sandfire Resources is continuing to support the Sandfire Americas team to progress the Black Butte project, in Montana, CEO Brendan Harris said on Tuesday. Sandfire holds its interest in Black Butte through an 87% equity stake in TSX-V-listed Sandfire Resources America.

MC Mining's Uitkomst Colliery increases quarterly output following turnaround plan

Published: 30 Apr 24

Run-of-mine (RoM) coal production at MC Mining's Uitkomst steelmaking and thermal coal mine, in South Africa, increased by 14% year-on-year to 115 909 t for the quarter ended March 31 – the third quarter of its 2024 financial year. ASX-, Aim- and JSE-listed MC Mining, which is being bought out by Goldway Capital Investment, reports that the mine sold 75 590 t of high-grade coal during the quarter.

US reforms environmental law to speed up clean energy, infrastructure approval

Published: 30 Apr 24

The White House on Tuesday reformed the US environmental review process for major projects which officials said would speed up approval of everything from transmission of power from wind and solar farms to semiconductor manufacturing. The reforms are the second and final phase of the administration of President Joe Biden's adjustments to the National Environmental Policy Act, or NEPA, after former President Donald Trump overhauled the bedrock environmental law in 2021 for the first time in decades.

White House eyes Russian uranium import ban while house bill stalls

Published: 30 Apr 24

The Biden administration is considering banning imports of enriched Russian uranium using executive authority as congressional efforts to block the Kremlin’s shipments of the reactor fuel stall, people familiar with the matter said. Officials from the White House National Security Council, the Department of Energy and other corners of the administration have been in talks on limiting Russian uranium imports, including a ban that includes waivers similar to legislation the easily passed the House last year, the people said.