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Chinese coal group cuts 2024 output forecast

Published: 22 May 24

The deputy chairman of the China Coal Transportation and Distribution Association (CCTD) told a seminar on Wednesday that annual output growth would be in a range of -1% to 1% this year, having previously forecast expansion of 1%. China, the world's biggest coal producer, mined 4.66 billion metric tons of the fuel in 2023, up 2.9% year-on-year, according to the National Bureau of Statistics.

India's Vedanta Aluminium turning to renewables, not adding coal capacity, CEO says

Published: 22 May 24

Indian metals-to-oil conglomerate Vedanta's aluminium business will no longer add coal-fired capacity, its CEO said, in the company's biggest move yet toward renewable energy. Vedanta Aluminium, the country's biggest producer of the metal, aims to increase the share of renewable energy it is using to 30% by 2030 from nearly 5% now, John Slaven told Reuters in an interview.

Congo lawyers say received new evidence on Apple's minerals supply chain

Published: 22 May 24

International lawyers representing the government of the Democratic Republic of Congo said on Wednesday new evidence gathered from whistleblowers indicates that Apple is sourcing minerals from conflict areas in the east of the country. In a statement, the lawyers urged Apple to answer questions about its supply chain in the country, and said they were evaluating legal options. Apple did not immediately respond to Reuters request for comment.

West Red Lake hits high grades at new Madsen zone

Published: 22 May 24

TSX-V-listed West Red Lake Gold Mines has intersected high-grade mineralisation at its Madsen mine, in Ontario, with results as high as 37.33 g/t gold over 2.79 m and 5.26 g/t over 9 m at the North Austin zone. The latest round of drill results from Madsen were all drilled from underground on the North Austin zone, which represents a new area of high-grade mineralisation extending the current Madsen resource to the north-east.

Westwell to retire as Sasol chairperson

Published: 22 May 24

Stephen Westwell will, on June 1, retire as nonexectutive director and chairperson of chemicals and energy group Sasol, after having served on the board for 12 years. Lead independent director Muriel Dube will take up the position of acting chairperson until a full-time successor is appointed.

BHP-Anglo prospects flag more M&A ahead for miners

Published: 22 May 24

BHP's bid for Anglo American underlines the growing appetite for energy transition metals like copper from miners who must become more aggressive to secure new projects or risk missing out, investors and mining CEOs said on Wednesday. The bid by the world's biggest listed miner for Anglo is expected to whet appetite for more deals in the sector whether it goes ahead or not, they said.

Resources Watch

Published: 22 May 24

This week: PGM-boosted green hydrogen backed by resolute South African govt's commitment; State mining training authority backing green hydrogen skills centre creation, and, Nedbank says green energy presenting South Africa with massive reindustrialisation chance

Anglo CEO Duncan Wanblad and BHP CEO Mike Henry

Clock runs down on BHP’s $43bn bid for Anglo American

Published: 22 May 24

BHP Group has just hours to launch a blockbuster bid to buy smaller mining rival Anglo American — or put its audacious takeover plan on the shelf. The proposal by the world’s biggest miner to spin off two units and then buy the remainder of Anglo would create a global copper behemoth, heralding the industry’s return to mega—deals after more than a decade. Anglo has already rejected two non-binding offers from BHP — the last worth $43-billion — and unveiled its own plans for a radical restructuring.

AIC initiates A$50m Jericho mine development, elevating Eloise

Published: 22 May 24

Queensland copper miner AIC Mines on Wednesday pushed the button on the development of the A$50-million Jericho mine, which is set to transform its Eloise operation into a cornerstone asset. Development of the Jericho mine and expansion of the Eloise processing plant will lift production to more than 20 000 t/y of copper and 7 500 oz/y of gold.

Hudbay to raise $300m in bought deal equity offering

Published: 22 May 24

Canadian copper miner Hudbay Minerals plans to raise $300.2-million in an equity offering to help fund near-term growth initiatives at its Copper Mountain unit among other purposes, the company said on Tuesday. Underwriters led by RBC Capital Markets and BMO Capital Markets will buy 31.6-million shares of Hudbay at $9.50 each under a bought deal.