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Gem to report 15% q/q rise in carat sales for the first quarter

Published: 25 Apr 24

London-listed Gem Diamonds notes in a trading update for the first quarter of this year that it sold 32 571 ct of diamonds recovered from its 70%-owned Letšeng mine, in Lesotho. This represents a 15% increase on the 28 402 ct sold in the fourth quarter of 2023.

Vedanta misses Q4 profit estimates on lower prices

Published: 25 Apr 24

ndian mining group Vedanta reported a 27% drop in fourth-quarter profit on Thursday, reflecting weaker prices of major metals like aluminium and zinc amid ballooning finance costs. The oils-to-metals conglomerate, led by billionaire Anil Agarwal, posted a consolidated net profit of 13.69-billion rupees (about $164-million), falling behind analysts' estimates of 21.10-billion rupees, as per LSEG data.

Pilot Crushtec introduces Swedish brand of large-scale crushers to the Southern African market

Published: 25 Apr 24

Local mobile and semi-mobile crushing and screening equipment provider Pilot Crushtec has expanded its product lineup to the Southern African mining market with the addition of Swedish brand Jonsson’s crushers and screens. The range complements the company’s existing offering of Metso equipment, particularly filling the gap of large-scale premium crushing and screening requirements with tracked units in the region.

Anglo American's corporate head office in South Africa

Anglo shareholder LGIM says BHP approach 'unattractive'

Published: 25 Apr 24

Legal & General Investment Management, one of the 20 largest shareholders in Anglo American said an approach by BHP Group is "highly opportunistic" and "unattractive". "As with many other UK-listed companies, we believe the valuation of Anglo American to be depressed and regard the proposed exchange ratio as an unattractive proposition for long-term investors," Nick Stansbury, head of climate solutions at Legal & General Investment Management (LGIM), told Reuters in an email on Thursday.

Newmont's asset sale attracts strong interest, tops profit estimates

Published: 25 Apr 24

Newmont beat Wall Street estimates for first-quarter profit on Thursday, as the world's largest gold miner benefited from robust production, higher prices and lower operating expenses. Shares rose 11.2% to a nine-month high of $43.07 as the company also disclosed strong interest in its asset sale plans.

Newmont sells gold stream to Lundin for $330m

Published: 25 Apr 24

Leading gold miner Newmont has finalised the sale of a stream credit facility and offtake agreement for the Fruta del Norte gold mine, in Ecuador, to Lundin Gold for $330-million. The agreement, unveiled on Thursday, forms part of Newmont’s ongoing efforts to monetise noncore assets following its acquisition of Newcrest in 2023.

Biden administration aims to clean up power sector with revamped rules

Published: 25 Apr 24

The Biden administration on Thursday announced it has finalised rules targeting carbon, air and water pollution from power plants that it says could cut over one-billion metric tons from carbon emissions by 2047 even as demand for electricity grows. The Environmental Protection Agency tightened a proposal to slash carbon emissions from existing coal and new gas plants, and updated and finalized long-standing rules to reduce mercury and toxic air pollutants and clean up wastewater and coal ash discharge.

Blackwater on track for first gold pour in H2 – Artemis

Published: 25 Apr 24

Construction of the Blackwater mine, in central British Columbia, is continuing to progress on schedule, keeping the mine on track for its first gold pour in the second half of the year. At March 31, overall construction was about 73% complete and about C$523-million of the guided capital budget of C$730-million to C$750-million had been spent, TSX-V-listed Artemis Gold reports.

Minerals Council South Africa CEO Mzila Mthenjane.

How 30 years of democracy has transformed South Africa's mining industry

Published: 25 Apr 24

South Africa’s 30 years of democracy has changed the character of this country’s mining industry profoundly, Minerals Council South Africa emphasised in a report that highlights the industry’s significant advance since the dawning of democracy in 1994. Importantly, South Africa’s highly regarded mine employees earn among the most competitive wages in the major job sectors, with tens of thousands of employees now direct partners in mining companies through employee share ownership programmes and profit-sharing schemes.

Vale expects to reach final agreement for Mariana dam reparations in first half of year

Published: 25 Apr 24

Mining company Vale expects to reach a final agreement with authorities for reparations for the collapse of the Samarco tailings dam by the end of the first half of this year, the company told Reuters in a statement on Wednesday. The collapse of the dam, which belonged to Samarco, a joint venture of Vale and BHP and located in the southeastern city of Mariana, caused a giant mudslide that killed 19 people and severely polluted the Rio Doce river, compromising the waterway to its outlet in the Atlantic Ocean.