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Anglo CEO meets South Africa's mines minister after BHP's takeover proposal

Published: 03 May 24

Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group's $39 billion takeover bid, a source familiar with the matter told Reuters. BHP, the world's biggest-listed mining group, is privately talking to investors as it weighs up its next move after Anglo's rejection of its initial proposal.

Platinum metals support every step of green hydrogen’s decarbonisation of the world.

Platinum-based green hydrogen emerging as Winter Olympics decarbonisation pillar

Published: 03 May 24

Green hydrogen, which is generated with the benefit of the catalysis that platinum group metals (PGMs) provide, is being increasingly highlighted as a pillar of the global decarbonisation transition that is poised to save the world from ruinous climate change. News just out is that steps are being taken to locate a green hydrogen production facility in a location where the 2030 Winter Olympics are to be held in the French Alps.

Manook stresses importance of abated coal in energy future of many nations

Published: 03 May 24

Global coal organisation FutureCoal has suggested that world leaders follow a balanced, pragmatic and responsible approach to energy policy, following an announcement by the Group of Seven (G7) forum that unabated coal will be phased out by 2035. The announcement was made at a G7 Ministerial meeting on climate, energy and environment matters.

Boliden to restart its Tara zinc mine in Ireland

Published: 03 May 24

Swedish mining group Boliden will restart production at its Tara zinc mine in Ireland after it was paused in 2023, it said on Friday. The mine was put on care and maintenance last year after prices of the galvanizing metal hit a three-year low, and Boliden begun talks with staff over a planned resumption in the second quarter of this year.

Anglo's unusual mix of niche commodities — it’s the only large miner with big diamonds and platinum operations, for example — is seen as one of the reasons that the company hasn’t been successfully targeted in the past.

What’s Anglo worth? For now it’s less than the sum of its parts

Published: 03 May 24

As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and executives at rival producers: What’s Anglo American actually worth? Anglo’s shares are trading about 8% above the price implied by BHP’s initial proposal, which was swiftly and firmly rejected, and Bloomberg reported on the weekend that the larger firm was considering an improved offer.

West Wits to raise A$1.4m

Published: 03 May 24

To strengthen its balance sheet and fund its ongoing operations, ASX-listed West Wits Mining has secured firm commitments from unrelated existing and new sophisticated and professional investors to raise A$1.4-million, before costs, through a share placement. It intends to issue about 107.69-million fully paid ordinary shares at A$0.013 a piece.

Epiroc acquires South African rock drilling parts maker Weco

Published: 03 May 24

Swedish equipment manufacturer Epiroc has successfully acquired Weco, a South African manufacturer of precision-engineered rock drilling parts. Weco has been operating in Krugersdorp, Gauteng, for more than 40 years, serving mainly underground mining customers in the Southern Africa region.

TFR ramps up coal trains to 28 a week

Published: 03 May 24

State-owned Transnet Freight Rail (TFR) has embarked on a ramp up of GF-class coal trains from 21 a week to 28 a week, supported by an injection of locomotives. This is part of Transnet’s recovery plan initiatives, and a commitment made to the City of uMhlathuze leadership and other stakeholders during the Stakeholder Collaboration on Truck Congestion Solutions meeting held in the Port of Richards Bay, in KwaZulu-Natal, on November 21 last year.

O3 terminates option to acquire Aurbel mill

Published: 03 May 24

Exploration and development company O3 Mining has terminated its option with Eldorado Gold to acquire the Aurbel mill, which is located about 10 km from its Alpha property in Quebec. In 2022, O3 Mining was granted an option to acquire the mill, tailings and associated permits for C$5-million and annual maintenance costs of C$87 500 a year to maintain the mill during the option term.

Anglo American boosts London's FTSE 100 to near record high

Published: 03 May 24

Britain's FTSE 100 opened near record highs on Friday, boosted by Anglo American after Reuters reported Glencore is exploring an approach for the miner, while Diageo advanced after naming a new chief financial officer. The blue-chip FTSE 100 was up 0.3% by 0709 GMT, a whisker away from a record high, and is set for a second straight week of gains.