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Dr Kgosientsho Ramokgopa speaking during an Eskom power station visit while still Electricity Minister

Separation of energy portfolio and Ramokgopa’s appointment praised amid rising energy-transition complexity

Published: 01 Jul 24

The decision to establish a separate energy portfolio with the African National Congress’s Dr Kgosientsho Ramokgopa as Minister and the Democratic Alliance’s Samantha Graham as Deputy Minister has been welcomed by stakeholders and commentators alike. There are already warnings, however, that the success of the new Electricity and Energy Ministry will be judged not only on ensuring a permanent end to loadshedding but on whether it is able to shepherd South Africa, justly, through the unfolding energy transition in a way that addresses not only the immediate threats to security of supply and affordability but also long-term sustainability and competitiveness.

Russia's Alrosa buys Degdekan gold deposit from Polyus

Published: 01 Jul 24

Russian diamond producer Alrosa has bought a gold deposit in Russia's Far East from miner Polyus, the two companies, both of which are under Western sanctions, said on Monday. For the world's biggest diamond producer, the move marks a deeper push into gold which it said would fit with the rest of its business and strengthen it financially while not significantly changing its strategy.

Coyne rejoins Spartan executive team

Published: 01 Jul 24

David Coyne has rejoined the executive team of gold company Spartan Resources, it was announced on Monday. An experienced CFO and director with more than 30 years’ Coyne, currently a nonexecutive director, would become an executive director and joint company secretary on August 1.

B2Gold invests in Yukon-focused Prospector Metals

Published: 01 Jul 24

Gold mining company B2Gold has agreed a strategic investment into Yukon-focused exploration company Prospector Metals. B2Gold will subscribe for 5.58-million shares at C$0.163 a share for gross proceeds of about C$909 311, said TSX-V-listed Prospector.

Central to the acquisition is the Magino mine

Argonaut shareholders approve takeover by Alamos

Published: 01 Jul 24

The shareholders of Argonaut Gold have approved a special resolution for a takeover by fellow Canadian miner Alamos Gold. The arrangement resolution received overwhelming approval with 99.58% of shareholders present in person, or represented by proxy, giving their thumbs up.

Copper supply gets a boost as Chile shows signs of recovery

Published: 01 Jul 24

Copper production in Chile, the world’s biggest supplier of the wiring metal, is showing signs of recovering from 20-year lows. Output in May was the highest this year, rising more than 8% compared with both April and the year earlier, according to data released Friday by the country’s bureau of statistics.

Rio to install carbon free aluminium smelting cells at Quebec smelter

Published: 01 Jul 24

Mining company Rio Tinto has announced a C$375-million demonstration plant equipped with carbon free aluminium smelting cells at its Arvida smelter, in Quebec. The plant, which will be owned in a new joint venture (JV) with the provincial government through Investissement Québec, will use the same technology that has been successfully demonstrated at the ELYSIS Industrial Research and Development Center in Saguenay—Lac-St-Jean.

Southern Copper to restart development of Peru mine on Monday

Published: 01 Jul 24

Peruvian copper producer Southern Copper, controlled by Grupo Mexico, plans on Monday to restart development of the long-postponed Tia Maria project, according to an internal document seen by Reuters. The Tia Maria mine, in the Islay province of Peru's Arequipa region, has been on hold for years amid community opposition over fears of the mine's environmental impact. Protests against the mine left six people dead between 2011 and 2015.

Nutrien says ‘black swan’ jolts are finally easing

Published: 01 Jul 24

The world’s biggest maker of crop nutrients said fertiliser demand is just now starting to stabilise from seismic shocks of the past few years that left the company with wild profit swings. “We’re getting back at least to a market that we would call stable,” Nutrien CEO Ken Seitz said Wednesday in an interview at Bloomberg’s headquarters in New York.

Biden Administration shuts down plans for road key to unlocking Ambler mining district

Published: 01 Jul 24

The Biden Administration has officially halted plans for the Ambler Road in Alaska, dealing a blow to potential mining development in the region. The Ambler Road project, which aimed to construct a 340 km industrial road across BLM-managed lands, was intended to facilitate exploration and development in an area known for its rich copper-dominant polymetallic deposits. Trilogy Metals, in a joint venture with diversified miner South32, is one of the region’s potential developers. The road's construction faced fierce opposition from environmental groups and Native communities concerned about its potential impacts on wildlife and subsistence resources.