News
Zimbabwe licenses second gold refinery in Bulawayo
9+ hour, 25+ min ago (281+ words) ZIMBABWE has licensed a second gold refinery to process the country's rising precious metals output, with the facility set to be commissioned in Bulawayo next year. The move reflects growing pressure on state-owned Fidelity Gold Refinery, which currently handles all…...
West African miner Perseus extends buy-back
2+ day, 14+ hour ago (364+ words) SHARES in Perseus Mining surged over 8% on Monday after the West African gold miner approved a A$50m increase in its share buy-back programme. This was after completing A$100m in purchases of its shares during the last 12 months. Shares in Perseus…...
G7 divided on US proposal for critical minerals price floor
2+ day, 11+ hour ago (320+ words) TALKS among G7 members over price supports for critical minerals have stalled, with European allies resisting a US proposal which uses an artificial intelligence pricing model developed by the Pentagon. According to a report by Reuters, the debate is over a…...
Zimbabwe's Mutapa plans to double gold output by 2029
5+ day, 7+ hour ago (224+ words) ZIMBABWE'S state-owned Mutapa Gold Resources plans to double annual production to 220, 000 ounces by 2029, backed by funding secured for expansion projects at two of its mines, said Reuters on Friday. Mutapa, Zimbabwe's largest gold producer and a subsidiary of the country's…...
Iran war tightens industrial metals supply outlook
6+ day, 6+ hour ago (287+ words) A MAJOR squeeze is emerging across industrial metals markets as the ongoing US-Israeli war against Iran compounds structural supply shortfalls, said the Financial Times on Thursday. This could keep prices elevated for years, the newspaper added, citing analysts. Copper is…...
The coal miner that looks cheap until you read the small print
6+ day, 11+ hour ago (564+ words) COAL mining group Salungano, which was long in limbo, is finally making money again " it's just that it owes R2. 2bn in mine closure costs it has no way to fund, and not many analysts are paying attention. And yet the numbers…...
Vale sees no evidence of demand destruction from Iran conflict
1+ week, 1+ day ago (288+ words) Miningmx VALE, the world's largest iron ore producer, said the Iran conflict had not resulted in any demand destruction in global metals markets, Bloomberg News reported. The Brazilian miner has raised its full-year free cash flow forecast for its core…...
Chrome export levy resurfaces in new industrial strategy
1+ week, 1+ day ago (468+ words) CHROME ore export levies are squarely on the South African government's agenda after earlier indicating they were "a blunt tool. More worryingly for policy certainty, is that the strategy goes on to link the award of mining licences to undertakings…...
Chinese nickel investors eye Africa as Indonesia policy bites
1+ week, 1+ day ago (318+ words) CHINESE companies that transformed Indonesia into the world's dominant nickel producer are scouting African alternatives as rising policy pressure in Jakarta unsettles the investment model that reshaped global supply, reports Reuters. Tsingshan Group, the world's largest stainless steel producer, has…...
SA miners fear the worst in mineral cadastre award
1+ week, 2+ day ago (923+ words) IN May 2024, then Orion Minerals CEO Errol Smart gushed: "I'm coming off an all-time high on hearing this news." A day earlier, the South African government had signed an agreement with a Canadian-led consortium to install a tailor-made minerals licensing…...