Новости за 01.03.2022

US coal miner Peabody on Tuesday announced the launch of R3 Renewables, a renewable energy development company that would pursue the development of more than 3.3 GW of solar photovoltaic and 1.6 GW of battery storage capacity over the next five years. R3 Renewables is a joint venture with Riverstone Credit Partners and Summit Partners Credit Advisers.

Zambia President Hakainde Hichilema and Botswana President Dr Mokgweetsi Eric Keabetswe Masisi have confirmed their attendance at the Investing in African Mining Indaba, which will be held in Cape Town from May 9 to 12. Hichilema has pledged to foster a better democracy through respect for the rule of law, restoring order and protecting human rights. He also hopes to restore confidence in the country as a mining investment destination.

JSE-listed coal mining company MC Mining subsidiary Baobab Mining & Exploration has paid the final instalment of R35-million to the Lukin and Salaita property owners to secure the purchase of key surface rights for the Makhado hard coking coal project, in Limpopo. MC Mining on January 11 announced that Baobab and the property vendor had agreed to extend the due date for payment to February 28.

The International Council on Mining and Metals (ICMM) has published a set of practical tools to strengthen approaches to managing social performance within mining companies. These tools have been designed to support companies to strengthen these capabilities and to build and maintain positive relationships with local communities and broader society.

Given the prominence of Russia as a platinum group metals (PGMs) producer, there are fears that it may potentially have an impact on global PGMs supply, Implats CEO Nico Muller said on Tuesday, when the JSE-listed company delivered robust earnings and free cash flow generation for its half year ended December 31. In the six months, Implats generated free cash flow of R15.1-billion, closing the period debt free and with net cash of R18.5-billion.

Mineral Resources and Energy Minister Gwede Mantashe indicated on Tuesday that his department will seek to “refocus” South Africa’s just energy transition debate as it prepares to finalise its policy on the matter. In an address to the Africa Energy Indaba on Tuesday, Mantashe indicated that the Department of Mineral Resources and Energy (DMRE) intended initiating “a wide-ranging public dialogue and consultation process in this year” on its ‘Just Transition Framework for the Energy and Mining Sectors’.

Dr Nombasa Tsengwa will take up the position of CEO of diversified natural resources company Exxaro Resources from August 1, 2022. When named CEO-designate in March 2021, she was expected to take up the position only from May 31, 2023, but that date has now been brought forward.

JSE-listed Wescoal’s board has appointed interim group CEO Robinson Ramaite as the permanent CEO, for a two-year term starting on April 1. The coal miner on March 1 said the appointment would allow for a managed transition as Wescoal moves from a pure coal mining and trading company into a diversified investment company.

The World Federation of Diamond Bourses (WFDB) concluded a successful President’s Meeting in Dubai last week, during which the organisation adopted a resolution in support of social responsibility, transparency, compliance and full disclosure. The keynote address was delivered by Angola Minister of Mineral Resources, Petroleum and Gas Diamantino Pedro Azevedo. Other speakers included Alrosa international relations head Peter Karakchiev, De Beers CFO midstream Susanne Swaniker, World Diamond Council... Читать дальше...

The feasibility study for the expanded and rescoped McIlvenna Bay metals project, in Saskatchewan, has defined compelling financial metrics, TSX-V-listed Foran Mining announced on Monday. At current prices, the study defines a pretax net present value (NPV) of C$1.49-billion and an internal rate of return (IRR) of 46%. Base case economics, which use a copper price of $3.50/lb and $1.20/lb zinc, outline a pretax NPV of C$678-million and an IRR of 26%.

ASX-listed metals miner Independence Group (IGO) on Tuesday announced that its discussions with major Glencore around the possible acquisition of its CSA copper operations, in New South Wales, had fallen through. Glencore last year announced that it was considering proposals and could enter into a sales process for the asset, with IGO in February confirming that it was in ‘exclusive discussions’ with Glencore.

Canadian diversified miner Teck Resources is studying further copper expansions beyond Phase 2 of its Quebrada Blanca (QB) mine and says is up to Chile, which is considering new tax and royalty structures, to offer an attractive investment environment. CEO Don Lindsay said on a conference call last week that Teck would “wait and see” what the final rules were before sanctioning a further investment at its massive QB project. “It is in Chile’s hands to put together a good investment environment, and it has done that for decades. Читать дальше...

First production of battery quality lithium carbonate product from the Rincon project, in Argentina, would occur in mid-2022. ASX-listed Argosy Minerals on Tuesday reported that some 61% of the total construction work at the project is now complete, with the 2 000 t/y project remaining on schedule.

A prefeasibility study for the Ta Khoa nickel project (TKNP), in Vietnam, has estimated that the project could produce some 151 000 t of nickel over its 9.2 year mine life. ASX-listed Blackstone Minerals, which holds a 90% interest in TKNP, this week noted that first production is earmarked for 2025, ramping up to a nameplate design of 8-million tonnes a year by 2027.

TSX-V-listed diamond miner Diamcor Mining, which operates the Krone-Endora at Venetia mine in Limpopo, South Africa, tendered and sold 25% more rough diamonds, at 5 441.88 ct, in the fourth quarter ended December 31, 2021, compared with the third quarter. This generated $1.07-million in revenue for the fourth quarter, resulting in an average price of $197.50/ct.

A court in Democratic Republic of Congo on Monday appointed a temporary administrator to run China Molybdenum's 603993.SS Tenke Fungurume copper and cobalt mine at the request of state miner Gecamines, a minority shareholder in the project. The order from the Tribunal of Commerce in the southeastern city of Lubumbashi marks a significant development in a dispute that broke out last year between Congolese authorities and China Moly over reserve levels at the mine. Read full storyRead full story

Oil and gas major Santos has inked a memorandum of understanding (MoU) with a number of Korean partners to jointly develop carbon capture and storage (CCS) projects. Santos, along with SK E&S, K-CCUS Association, CO2CRC and Korea Trade Insurance Corporation have signed the MoU to support and collaborate in the development of carbon dioxide (CO2) storage facilities in Australia and the region, including Bayu-Undan in Timor Leste.

A prefeasibility study (PFS) into the Tombador iron project, in Brazil, has estimated that the project could support the production of some 1.2-million tonnes a year of direct shipping ore (DSO) over a five-year period. The PFS was based on a maiden ore reserve of 5.59-million tonnes, at 65.5% iron.

Aluminum prices jumped in London after United Co. Rusal International said it halted shipments at an alumina refinery in Ukraine that’s a key source of raw material for its smelters in Russia. The shutdown is the latest sign of supply turmoil in aluminum and broader metals markets in the wake of the invasion of Ukraine, with traders and analysts also bracing for severe disruption in Russian exports.

Chile, the biggest copper-producing country, just recorded its lowest January output since 2011, in the latest bullish sign for global metal markets. Production tumbled 15% last month from December and 7.5% from January 2021, the bureau of statistics reported Monday, without giving a clear reason for the drop. To be sure, Chilean output is typically lower in the new year, and can ebb and flow depending on whether mines are encountering sections of higher or lower quality ore. But there may be more... Читать дальше...

Environmental permits for Honduran metal and non-metal mining will be cancelled, the country's government said in a brief statement on Monday, describing the industry as harmful and declaring it will specifically prohibit open-pit mining. The statement from the Ministry of Energy, Natural Resources, Environment and Mines added that natural areas with "high ecological value" will be preserved, without going into further detail. "The approval of permits for extractive exploitation is cancelled due to being harmful to the state of Honduras... Читать дальше...