Mining Weekly
Harmony reaches wage agreement with five unions
Thu, 16 Sep 2021 16:18:00 +0200
Trade unions Solidarity, the Association of Mineworkers and Construction Union, the National Union of Mineworkers, Uasa and the National Union of Metalworkers of South Africa have reached a three-year wage agreement with JSE-listed Harmony Gold. The agreement makes provision for a 6% salary increase a year for the next three years for miners, artisans and officials.
Bush clearing, shaft rehab under way at West Wits gold revival project
Thu, 16 Sep 2021 16:01:00 +0200
Australia-listed West Wits Mining, which is considering a secondary listing on the JSE, has commenced bush clearing and old shaft rehabilitation west of Johannesburg, as part of its far-reaching revival plans for an area where gold mining thrived as recently as 20 years ago. West Wits Mining, which has been granted a mining right, two weeks ago completed a definitive feasibility study on the first of its five targeted gold projects that reflect ongoing potential for gold activity in South Africa’s historic Witwatersrand basin. (Also watch attached Creamer Media video.)
Russia may change tax for steel raw materials, fertilisers, Nornickel
Thu, 16 Sep 2021 14:35:00 +0200
Russia may set a new mineral extraction tax (MET) linked to global prices for the country's producers of iron ore, coking coal and fertilisers, as well as complex ore mined by Nornickel, four sources at companies familiar with talks told Reuters. Moscow has been searching for additional proceeds for the state budget and has been concerned about rising costs of defence and state construction projects amid high inflation and increasing prices for metals. The talks to fine tune the formulas for each product took place at the finance ministry on Thursday, but the final decision on the proposal will be taken by Prime Minister Mikhail Mishustin, the sources added.
Zimbabwe turns to Mozambique, Zambia to Ease 12-Hour Power Cuts
Thu, 16 Sep 2021 14:15:00 +0200
Zimbabwe asked Mozambique and Zambia to supply it with more electricity as it tries to fill a power shortfall that’s led to outages of 12 hours a day. “We are in discussions with Mozambique for the recently commissioned power plants to give us an additional 180 MW,” Energy Minister Soda Zhemu told lawmakers Wednesday, according to a transcript on parliament’s website. “We are also at final stage of discussion with Zambia to get an additional 100 MW”.
Ugandan exports plunge 30% as gold shipments are halted over tax
Thu, 16 Sep 2021 14:13:00 +0200
Ugandan exports plunged in July as a new levy on gold, which vies with coffee as the nation’s leading trade product, halted shipments of the metal. Shipments from the East African nation fell 30% to $300.4-million from a year earlier, the Finance Ministry said in a statement on its website on Wednesday. Exports fell by about a similar margin from the previous month.
Operating in remote regions presents ‘golden opportunity’ for miners to improve lives – ...
Thu, 16 Sep 2021 12:20:00 +0200
Implementing its environment, social and governance (ESG) policies in remote regions in the Democratic Republic of Congo (DRC) has presented Barrick Gold with a “golden opportunity” to improve people’s lives in a challenging region, says Barrick Gold DRC country director Cyrille Mutombo. He spoke during a webinar on the topic of “Unpacking the importance of ESG compliance for the DRC’s mining sector”, on September 15.
ERG and NFC China to build special coke plant in Kazakhstan
Thu, 16 Sep 2021 12:18:00 +0200
Eurasian Resources Group (ERG) and China Nonferrous Metal Industry’s Foreign Engineering and Construction (NFC China) have signed an engineering, procurement and construction (EPC) contract to build a special coke plant at Shubarkol Komir in Kazakhstan. The new 400 000 t/y plant will produce a reducing agent that is key to the production of ferroalloys.
Queen’s Virtues coin series now features platinum
Thu, 16 Sep 2021 11:59:00 +0200
The Treasury of St Helena and The East India Company have added platinum to its St Helena Queen’s Virtues Series of coins. To provide choice for investors, the companies have included three sizes – 1 oz, 0.5 oz and 0.10 oz – in the 2021 Queen’s Virtues Victory coin range.
Vedanta’s Black Mountain Mining ramps up digitalisation efforts
Thu, 16 Sep 2021 11:52:00 +0200
In alignment with underground operations worldwide increasingly digitalising their operations, Vedanta Zinc International's (VZI) Black Mountain Mining's (BMM's) underground operation Swartberg is also embarking on digitalisation efforts. VZI, a grouping of zinc assets located in South Africa and Namibia, is part of global mining and metal conglomerate Vedanta. VZI operates as BMM in Northern Cape's KHAI-MA region.
Roundtable hears views on South Africa’s hydrogen progress, JSE mulls metals exchange
Thu, 16 Sep 2021 11:44:00 +0200
Mapungubwe Institute for Strategic Reflection (Mistra) on September 15 hosted its sixth annual platinum group metals (PGMs) roundtable, placing emphasis on the progress achieved thus far in developing hydrogen opportunities in South Africa. Political strategist Joel Netshitenzhe, as the first speaker, noted how government had identified green hydrogen as the first among South Africa’s big frontiers of strategic investment.
Orion welcomes IDC’s support at Okiep
Thu, 16 Sep 2021 11:13:00 +0200
South Africa’s Industrial Development Corporation (IDC) has indicated its intention to partner with JSE- and ASX-listed Orion Minerals on the development of the Okiep copper project, in the Northern Cape. As it stands, the IDC is a 43.75% shareholder in Southern African Tantalum Mining (Safta) – one of the entities subject to Orion’s original option agreement over the project and an original vendor of the project.
Rio in a tax war with ATO
Thu, 16 Sep 2021 10:45:00 +0200
Mining major Rio Tinto on Thursday said that it would dispute a A$352-million penalty by the Australian Taxation Office (ATO). The ATO in March this year issued the miner with an amended assessment of of A$359.4-million primary tax and A$47.1-million of interest, related to the denial of interest deductions on an isolated borrowing used to pay an intragroup dividend in 2015.
ABB launches solutions for zero-carbon mining
Thu, 16 Sep 2021 10:25:00 +0200
Global technology company ABB has released a portfolio of solutions that will help accelerate the move towards a zero-carbon mine. Dubbed ABB Ability eMine, the portfolio comprises electrification technologies which makes the all-electric mine possible from mine to port and is integrated with digital applications and services to monitor and optimise energy usage. It can electrify any mining equipment across hoisting, grinding, hauling and material handling, the company said.
Gemfields records strong six-month performance
Thu, 16 Sep 2021 10:13:00 +0200
JSE-listed Gemfields expects to report a net profit after tax of $23.8-million for the six months to June 30, compared with the $56.7-million net loss after tax reported for the comparative six-month period in 2020. In rand terms, the net profit after tax is expected to be R346-million.
Jindalee positive on McDermitt future
Thu, 16 Sep 2021 09:34:00 +0200
An initial scoping study into the McDermitt lithium project, in Oregon, has confirmed that the project could support a viable stand-alone lithium mining and processing operation. ASX-listed Jindalee Resources said on Thursday that the study had confirmed the potential to produce high quality lithium carbonate, supplying US battery makers for decades, with multiple processing options identified for further optimisation.
Bradespar to distribute about $1bn in Vale stock to shareholders
Thu, 16 Sep 2021 09:26:00 +0200
Brazilian holding company Bradespar, one of the largest shareholders in miner Vale SA, said it will distribute 5.2-billion reais ($990-million) in Vale shares to its shareholders, reducing its capital. In a securities filing late on Tuesday, Bradespar said the proposal will be put to a vote at an October 15 shareholders meeting.
Vulcan completes first part of capital raise
Thu, 16 Sep 2021 09:21:00 +0200
ASX-listed Vulcan Energy has completed a A$200-million share placement to advance its Zero Carbon lithium project, in Germany. The company earlier this week announced plans for a A$220-million capital raise, consisting of a A$200-million share placement to sophisticated, professional and institutional investors, and a A$20-million share purchase plan (SPP).
American Pacific doubles Tuscarora size, reports grades of 21 032 g/t gold
Thu, 16 Sep 2021 08:51:00 +0200
Exploration and development company American Pacific Mining on Wednesday announced a transaction that effectively doubles the size of its Tuscarora land package, in Nevada. The company would acquire the assets of project generator Ubica Gold, gaining 77 claims (76 unpatented and one patented) at Tuscarora, totalling 417 ha. American Pacific also announced high-grade rock chip and grab samples collected from the newly expanded land package at its Tuscarora project.
A$700m Vickery coal extension project gets enviro clearance
Thu, 16 Sep 2021 08:20:00 +0200
Federal Environment Minister Sussan Ley has approved coal miner Whitehaven Coal’s A$700-million Vickery Extension project, in New South Wales. Ley’s approval follows the New South Wales Independent Planning Commission approving the project in August of last year.
Nigerian Minister wants death penalty for gold smuggling
Thu, 16 Sep 2021 07:52:00 +0200
Gold smugglers in Africa’s largest economy deserve the death penalty, Nigeria’s deputy minister in charge of mining development said. Uche Ogah, minister of state for mines and steel development, told lawmakers investigating the alleged loss of $9-billion a year to illegal mining of the precious metal, according to media reports Wednesday.