Research Channel | Advanced Search - Research Channel Africa

Back NEWS

Copper 360’s underground copper mine set to open three months ahead of schedule

Published: 06 May 24

Last month copper mining company Copper 360 surprised on the upside by producing its first copper concentrate from surface material well ahead of schedule. Now, this month, it is doing the same on the underground mining front in that it will be opening its Rietberg underground copper mine three months ahead of schedule.

Saudi Manara Minerals' team in Pakistan for talks on Reko Diq mine stake, document shows

Published: 06 May 24

Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in Pakistan's Reko Diq gold and copper mine, a Pakistan government document showed on Monday. The mine, located in Pakistan's restive southwestern Balochistan province, is considered one of the world's largest underdeveloped copper-gold areas by global mining company Barrick Gold, which owns the project jointly with Pakistan.

Eastplats reports record revenue for 2023 financial year

Published: 06 May 24

JSE- and TSX-V-listed Eastern Platinum (Eastplats) has reported net income attributable to shareholders of $13.8-million for the 2023 financial year, compared with a loss of $900 000 for the 2022 financial year, mainly as a result of higher revenue. Revenue increased to a record $106.9-million, compared with revenue of $53.9-million in the prior financial year.

Sibanye appoints Peter Hancock as nonexec director

Published: 06 May 24

Multinational mining and metals processing group Sibanye-Stillwater has appointed Peter Hancock as independent nonexecutive director, with effect from May 6. Hancock is a mining industry executive with more than 30 years of experience with Glencore overseeing nickel mining operations, developing and commercialising process technologies, and ramping up nickel projects. As VP of Glencore's nickel assets in Western Australia, he oversaw the Murrin nickel/cobalt mining operations.

Theta raises $10m

Published: 06 May 24

ASX-listed Theta Gold Mines, which owns gold assets in South Africa, has received a firm commitment from Hong Kong Ruihua Investment Management to invest $10-million in the company through a share subscription agreement. The funds will be used to complete funding packages for the TGME gold plant’s construction; advancing engineering, procurement and construction (EPC) contracts; development works for the plant, a tailings storage facility and water management at the TGME project; and to strengthen Theta’s balance sheet.

Growth in platinum jewellery demand continues in most key markets

Published: 06 May 24

In its latest Platinum Jewellery Business Review (PJBR) for the fourth quarter of 2023, marketing organisation Platinum Guild International (PGI) has reported that India’s jewellery market maintained its robust growth during the final quarter of last year, while Japan enjoyed modest gains, and the US was flat following a multiyear period of phenomenal post-pandemic performance. The Chinese market, however, continues to be overshadowed by persistent challenges.

Minister insists the recent period of no loadshedding is down to the improved performance of coal stations such as Matla (pictured)

Ramokgopa insists loadshedding not being ‘stage managed’ ahead of May 29 poll

Published: 06 May 24

Electricity Minister Kgosientsho Ramokgopa denies that the prevailing reprieve from loadshedding has been “stage managed” to improve the prospects of the governing African National Congress ahead of the May 29 poll, attributing it instead to “orchestrated” engineering efforts undertaken by Eskom over the past 18 months. Speaking during a briefing that coincided with the fortieth consecutive day of no loadshedding and amid growing societal cynicism about the timing of such supply stability, the Minister also strenuously denied that the improved performance was because Eskom was relying more heavily on the diesel-fuelled open cycle gas turbines that it owned as well as those operated by independent power producers (IPPs).

Big Oil finds more to love in deepwater exploration fields

Published: 06 May 24

As Big Oil returns this week to the industry's annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the US Gulf Coast will take the spotlight. Offshore exploration had dimmed after the US shale boom ushered in new and cheaper-to-tap supplies of oil, and as past offshore cost overruns pushed deepwater projects onto the industry's backburner.

Gold edges higher as investors mull mixed US economic signals

Published: 06 May 24

Gold edged higher after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the Federal Reserve fights inflation. The precious metal fell as much as 0.4% on Monday before reversing, following its back-to-back weekly loss on Friday. Investors have been mulling a softer-than expected US jobs print that added to evidence that the economy is gradually slowing, easing fears that markets are headed for a painful rut marked by high inflation and sluggish growth.

Renergen successfully producing liquid helium at Virginia project

Published: 06 May 24

ASX- and JSE-listed gas producer Renergen is now able to liquify helium in batches from its wells at the Virginia gas project, in South Africa’s Free State province. Since April 2, the original-equipment manufacturer (OEM) that supplied the equipment had brought the helium cold box to the appropriate temperature to liquify helium. A part of this process involved the purification of the helium to a level of 99.999% purity, which Renergen said had been validated by an independent third-party laboratory.