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Evolution extends South Cowal option agreement

Published: 02 Jul 24

Gold miner Evolution Mining has extended the option to purchase tenements nearby its operating Cowal gold mine, in NewSouth Wales, for a third and final year for further evaluation and exploration. A two-year option agreement with ASX-listed Strategic Energy Resources was due to expire on September 26, 2024, but Evolution has elected to extend the option period for a further 12 months.

Vale reports second board exit in four months amid CEO search

Published: 02 Jul 24

Brazilian miner Vale has lost its second board member in less than four months, it said in a filing on Monday, reporting the resignation of Vera Marie Inkster. Vale, which is in the process of looking for a new CEO, gave no reason for Inkster's resignation in the filing.

Porto do Caio Stage 1 quay that is scheduled for completion in December 2025.

Minbos' Angola mine may supply phosphate rock to Foskor

Published: 01 Jul 24

Junior mining company Minbos has announced a nonbinding memorandum of understanding (MoU) with South Africa-based Foskor for a potential supply agreement from its Angola mine. Foskor currently sources phosphate rock for its Richards Bay phosphoric acid-based fertiliser plant from its mine in Phalaborwa, but Minbos says the company is considering supplementing supply with alternative sources.

Orion to undertake placement, share purchase plan

Published: 01 Jul 24

ASX-listed Orion Minerals has secured firm commitments for a placement of new ordinary shares to sophisticated and professional investors to raise A$7.7-million, or R92.3-million. About 513-million shares will be issued at a price of A$0.01, or R0.18, apiece.

Macmahon reappointed as Dawson South mining contractor

Published: 01 Jul 24

Mining services firm Macmahon Holdings has been reappointed as mining contractor at the Dawson South project, in Queensland. Dawson South forms part of Anglo American’s Dawson mine, an opencut steelmaking coal mine west of Gladstone.

Pallinghurst Co-Chief Executive and Co-Founder Arne Frandsen.

Investors very positive on South Africa's unity govt, says Pallinghurst's Arne Frandsen

Published: 01 Jul 24

Amongst all our investors, there’s a very broad support for South Africa’s government of national unity initiative, says Pallinghurst Co-Chief Executive and Co-Founder Arne Frandsen. “I think it’s absolutely the right thing that the politicians are doing and I really hope that it’ll see the rand getting some muscles back,” an upbeat Frandsen told Mining Weekly in a Zoom interview. (Also watch attached Creamer Media video.)

Kangankunde feasibility study supports robust rare earths project

Published: 01 Jul 24

Rare earths mining and development company Lindian Resources has announced the completion of a feasibility study on Stage 1 of its Kangankunde rare earths project in Malawi. The study examined Stage 1 of the project's development, which includes mining operations, a mineral processing plant and necessary support infrastructure.

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.