Новости за 29.07.2022

Organisation for safe, fair and sustainable mining and metals the International Council on Mining and Metals (ICMM) reports that South African member companies accounted for 51% of the 43 fatalities recorded by ICMM member companies globally in 2021, at 27 fatalities. The US followed with four fatalities, while the Democratic Republic of Congo suffered three fatalities in 2021.

The National Energy Regulator of South Africa (Nersa) has formally initiated the process of adjudicating Eskom’s next tariff increase with the publication of a consultation paper on the utility’s allowable revenue application for 2023/24 and 2024/25. The paper includes a pro forma tariff calculation indicating that Eskom’s tariff could increase by as much as 38.1% on April 1 next year, followed by a further 5.12% increase in 2024/25.

London's High Court has rejected President Nicolas Maduro's latest efforts to gain control of more than $1-billion of Venezuela's gold reserves stored in the Bank of England's underground vaults in London. The court ruled on Friday that previous decisions by the Maduro-backed Venezuelan Supreme Court aimed at reducing opposition leader Juan Guaido's say over the gold, should be disregarded.

The favourable economics of JSE-listed MC Mining’s flagship Makhado project were confirmed in a bankable feasibility study BFS completed by Minxcon during the quarter ended June 30.  The development of Makhado is expected to deliver positive returns for shareholders and could position the company as South Africa’s pre-eminent hard coking coal (HCC) producer, the company points out.

Global miner Barrick Gold Corporation has given itself a “B” scorecard rating on sustainability performance for 2021, which is measured against a range of metrics and the best practice of its peers. CE Mark Bristow on July 29 presented the company’s yearly Sustainability Update presentation to investors, reiterating the company’s commitment to reducing emissions by at least 30% by 2030 – with 2018 as a baseline – and to reach net zero by 2050.

Iron-ore’s scorching five-day rally came to halt, with traders disappointed by a lack of fresh signals from Beijing that it will channel more funds toward China’s beleaguered property market. The steelmaking material sank as much as 5% after surging more than 20% from its close on July 21. Investors had been optimistic more aid was on its way to revive construction projects stalled by a wave of repayment boycotts from homebuyers, but none was forthcoming during a key Politburo meeting.

ASX-listed Apollo Minerals says the Eastern Dikaki high-grade zone (Dikaki-East) at its Kroussou zinc/lead project, in Gabon, has doubled, with mineralisation now defined over 500 m and open along trend with significant, thick, shallow mineralisation displayed in broad step out drilling – the first ever drilling in the untested 2.5 km strike eastern area. In an update on activities for the quarter ended June 30, the company says exploration drilling during the quarter focussed on the Dikaki prospect... Читать дальше...

Energy utilities are beginning to pivot towards uranium procurement strategies that more carefully weigh origin risks, uranium major Cameco CEO Tim Gitzel said this week, noting that it was good news for the Canadian company. He reported that this year had been a contracting success for Cameco, with more than 45-million pounds added to its portfolio of long-term uranium contracts.

ASX-listed Energy Resources of Australia (ERA) will require a further A$1.06-billion to A$1.65-billion in capital expenditure to complete rehabilitation of the Ranger uranium project, in the Northern Territory. The miner earlier this year flagged that an independent review of the Ranger rehabilitation had estimated a cost of between A$1.6-billion and A$2.2-billion for the project, compared with the 2019 cost estimates of A$973-million.

US-focused Uranium Energy Corp (UEC) has five business days to decide if it is going to improve its offer for UEX, after Denison Mines threw its hat in the ring for the Canadian exploration company. UEC, which made its bid for UEX in June with a view of entering two of Canada’s most prospective uranium districts in Saskatchewan and Nunavut, said the board of UEX had advised it that the Denison Mines offer constituted a “superior proposal” and that it intended to enter into an agreement with Denison.

Mining Weekly Editor Martin Creamer says that Anglo American sees massive opportunities for energy; South Africa needs a radical boost of renewables and green hydrogen capacity by 2040; and as the world turns to renewable energy, Kumba Iron Ore sees itself in a good position.

The biggest US coal miners are seeing soaring revenues as global demand for the dirtiest fossil fuel drives prices to record highs. Peabody Energy, the biggest US coal producer, saw second-quarter sales jump 83% to $1.32-billion, the most since 2018, the company said in a Thursday statement. Arch Resources reported revenue of $1.13-billion, more than double the total from a year earlier and the most since 2011.

Copper producers are pushing back on Chile’s proposed tax overhaul, with Anglo American indicating it needs greater regulatory clarity before proceeding with major investments. The tax package presented by the administration of President Gabriel Boric earlier this month would increase the effective tax rate by 10% to 15%, Stephen Pearce, London-based Anglo’s head of finance, said on an earnings call Thursday. That could lift the statutory rate to 46% to 56%, he said.

Junior A-Cap Resources on Friday said that the voluntary administration of gold developer Wiluna Resources would not create any new liabilities for the company. A-Cap is in a joint venture agreement with Wiluna, and holds a 55% interest in the cobalt, nickel and associated reserved minerals at the Wilconi nickel/cobalt project.

The world is headed for a severe shortage of copper crucial to the green-energy transition as new mines become increasingly difficult to build, according to the new head of Anglo American. “I genuinely don’t see where all of this copper is going to come from at this point in time,” Anglo CEO Duncan Wanblad said in an interview in London on Thursday.

Legalizing mining on indigenous land and other protected areas in Brazil's Amazon rainforest would lead to thousands of square kilometers in new deforestation, according to a study published on Thursday. Right-wing President Jair Bolsonaro has called for new mining in protected areas of the Amazon rainforest, arguing that informal mining should be legalized in order to help lift the region out of poverty.

Brazilian miner Vale said on Thursday its second-quarter net income fell 18.9% from the previous year, hit mainly by a sharp decline in iron-ore prices and escalating costs, but results still topped analysts' estimates. Vale, one of the world's largest iron ore miners, posted net income of $6.15-billion, above expectations of $2.837-billion, according to a Refinitiv forecast. Recurring net income, however, fell 49.8% from the year before.

Drilling technology solutions provider Rosond, based in Midrand, has celebrated a year of zero harm at its diamond drilling operation at mining company Kumba Iron Ore’s Sishen mine, near Kathu, in the Northern Cape. Rosond senior site manager Clayton Coetzee attributes the achievement to close cooperation between department heads, line management, and health and safety executive officers in continually improving standards.

Diversified engineering company Iritron has defied the odds brought on by supply chain challenges as a result of the Covid-19 pandemic, by winning a multimillion-rand, cross-border project that will assist Gabon-based manganese mining company Comilog increase its yearly tonnage, says Iritron CEO Alwyn Rautenbach.

Canadian iron-ore company Labrador Iron Mines announced a $4-million strategic investment by NYSE-listed, integrated merchant banking company Scully Royalty. The strategic investment consists of a $3-million equity component alongside a $1-million convertible credit facility. Scully Royalty has agreed to subscribe for 13 043 478 common shares of Labrador Iron Mines at a price of $0.23 a share, for gross proceeds of $3-million, thereby becoming a strategic shareholder holding about 7.4% of the company’s shares on closing.

Cross-listed exploration and development company Champion Iron announced in May this year that it had entered into a definitive purchase agreement (DPA) for the acquisition of the Pointe Noire Iron Ore Pelletising Facility (pellet plant), located in Sept-Iles, Québec, through a wholly-owned subsidiary of Champion Iron. Additionally, Champion also announced that it had entered into a memorandum of understanding (MoU) with a major international steelmaker to complete a feasibility study to evaluate... Читать дальше...

Decarbonising the steel industry will require an increase in high-grade iron-ore production and improved beneficiation techniques, finds a new report from research institution Institute for Energy Economics and Financial Analysis (IEEFA). The report, titled ‘Iron-Ore Quality a Potential Headwind to Green Steelmaking’, is co-authored by energy finance analyst Simon Nicholas and steel sector energy finance analyst Soroush Basirat.

Amid the Covid-19 pandemic, the global market for iron-ore, estimated at 2.2-billion metric tonnes in the year 2022, was projected to reach a revised size of 2.5-billion metric tonnes by 2026, growing at a compound annual growth rate of 3.2% over the analysis, stated a report by market research company Global Industry Analysts titled 'Iron-ore - Global Market Trajectory & Analytics’. The report, published in May this year, stated that the steel industry had experienced faster-than-expected recovery... Читать дальше...

Motors and drives original-equipment manufacturer (OEM) SEW-EURODRIVE notes the completion of the new multimillion local assembly facility in Johannesburg has resulted in lead time advantages.  The OEM is currently delivering on a R200-million investment in the expanded South African facility, which will enable SEW-EURODRIVE South Africa to look after another 24 facilities in different African countries.

While the outlook for mining is bright, continued resource nationalism, increasing Chinese influence in mining affairs and illegal mining are significant challenges that Central and East Africa continues to face, says Boies Schiller Flexner partner Timothy Foden