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South32 reports improved operating results for March quarter

Published: 22 Apr 24

Diversified miner South32 has reported an overall improvement in its operating results for the March quarter and record year-to-date production at Hillside Aluminium, in KwaZulu-Natal, and South Africa Manganese, in the Northern Cape, along with a 60% increase in quarterly volumes at Illawarra Metallurgical Coal, in Australia. The group confirmed that its operating unit cost guidance for the 2024 financial year will remain unchanged, with the exception of the group’s Australia Manganese operations, which were affected by the impacts of tropical cyclone Megan.

Lucapa sells three diamonds for $10.5m in first tender

Published: 22 Apr 24

ASX-listed Lucapa Diamond Company has sold three exceptional diamonds recovered from the Lulo mine, in Angola, for $10.5-million at tender. The tender was concluded on April 19 and was conducted by Sodiam, in Luanda.

Exploration drilling at the Toliara project

Base Resources, Energy Fuels to merge, create enhanced critical minerals company

Published: 22 Apr 24

ASX- and Aim-listed Base Resources and US-based uranium and critical minerals producer Energy Fuels have reached a binding agreement for Energy Fuels to acquire 100% of the issued shares in Base Resources by way of scheme of arrangement. Base shareholders are to receive 0.0260 Energy Fuels common shares plus an unfranked special dividend of A$0.065 for each Base share held, equating to total consideration of about A$0.302 a share.

Gem Diamonds' 169.15 ct Type II white diamond

Gem Diamonds recovers 169 ct diamond in Lesotho

Published: 22 Apr 24

London-listed Gem diamonds has recovered a 169.15 ct Type II white diamond from the Letšeng mine, in Lesotho. The find marks the fourth diamond greater than 100 ct that Gem has recovered in the year-to-date.

Newmont promotes Hardy to chief technology officer

Published: 22 Apr 24

US-headquartered gold major Newmont on Friday announced the appointment of Francois Hardy as new chief technology officer (CTO). With more than three decades of technical and operational expertise in the mining industry, Hardy brings a wealth of experience to his new role. Having joined Newmont in 2002, Hardy has held various key positions within the company, including group head of exploration, MD for Africa and general manager at Tanami.

Copper nears $10 000 as investors bet on rising global demand

Published: 22 Apr 24

Copper edged closer to $10 000 a ton after an April rally fueled by bets that a recovering global economy will lift demand for industrial materials. Metals have posted broad gains in recent weeks, and copper opened Monday with a fresh advance to a two-year high. Signs of improvement in manufacturing activity from the US to China have buoyed metals, and stubborn inflation is attracting renewed wagers on commodities.

Nornickel set to build copper plant in China after shutting Russian factory

Published: 22 Apr 24

Metals giant Nornickel will close its copper plant that seeks to cut sulphur dioxide emissions in the Russian Arctic and build a new one in China, CEO Vladimir Potanin said, after Western technology partners refused to supply parts. Nornickel, the world's largest palladium producer and a major producer of high-grade nickel, launched a multibillion-dollar project in October aimed at reducing sulphur dioxide emissions by 45% in Norilsk, Russia's most polluted city, through a complex capture programme.

Australian pension major votes against Woodside chair, climate plan ahead of AGM

Published: 22 Apr 24

Australia's third-largest pension fund has voted against the re-election of Woodside Energy chair Richard Goyder and the firm's climate action plan in a rebuke to the company's campaign to win shareholder support for its emissions plan. Aware Super, which manages A$170-billion, said in a statement on Monday that Woodside had not made sufficient progress on its climate transition action plan to justify support at the annual general meeting this Wednesday.

Vale Indonesia shareholders approve rights issue plan

Published: 22 Apr 24

Shareholders of nickel miner PT Vale Indonesia approved a rights issue that will facilitate the acquisition of a stake by Indonesia state mining holding company MIND ID, the company said in a statement late on Friday. Vale Canada and Japan's Sumitomo Metal Mining had agreed to sell 14% of the Indonesian unit to MIND ID to fulfil a divestment requirement to secure new mining permit.

The Symes openpit at the Edna May operation, in Western Australia

Ramelius achieves record production, raises FY guidance

Published: 22 Apr 24

Western Australian gold miner Ramelius Resources has posted record gold production of 86 928 oz in the March quarter. This has prompted the company to revise its full-year guidance, now forecasting a range of between 285 000 oz and 295 000 oz, surpassing the previous target of between 265 000 oz and 280 000 oz and the initial guidance set at 250 000 oz to 275 000 oz issued in July last year.