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Vale Base Metals chairperson Mark Cutifani

Vale unveils $3.3bn plan to boost copper and nickel output

Published: 20 Jun 24

Vale plans to spend as much as $3.3-billion on improvements at its mining operations in Brazil and Canada to boost copper and nickel production capacity over the next four years. The Brazilian mining giant sees the potential to expand production capacity to about 500 000 tons of copper by 2028 mainly through improvements to its Salobo and Sossego mines in Brazil, Vale said in its latest estimates for its base metals unit. Vale produced 321 000 tons of the wiring metal last year. Nickel also gets a capacity lift.

Proposed Australian emissions shift could conceal methane — Ember

Published: 20 Jun 24

Australian opencut coal mine operators may be able avoid reporting hundreds of thousands of tons of methane emissions if a government proposal to change how the releases are estimated is approved, according to Ember. The plan from the Department of Climate Change, Energy, the Environment and Water would eliminate state-provided emissions factors and required operators to determine their own. But the current proposal doesn’t include crucial safeguards to ensure independent verification and the accuracy of the data, Chris Wright, a climate strategy advisor at the energy think tank, said in a report.

Drone-sinking of coal ship takes Red Sea perils to new level

Published: 20 Jun 24

The sinking of a coal-carrier by a sea drone has boosted the risk of navigating the vital Bab el-Mandeb chokepoint to a new level and is driving a fresh surge in insurance costs. The British navy said Tuesday that the only visible objects in the last known location of the Tutor dry-bulk carrier — at which point it was semi submerged — were some debris and an oil slick. Yemen’s Houthi militants managed to strike it with a seaborne drone, killing one crew member and injuring others.

Australia to fund road clearing to Porgera mine after PNG landslide

Published: 20 Jun 24

Australia said it would provide A$2-million to Papua New Guinea to restore road access to the Porgera gold mine, previously one of the world's largest, and other support for survivors after a deadly landslide in Enga province in May. Seven Australian ministers and the country's police chief are in Papua New Guinea (PNG) to hold security and trade talks amid competition with China for policing ties in the Pacific Islands, and to underscore Australian humanitarian assistance after the disaster last month.

Harmony confident of meeting full-year targets, reporting 'exceptional' free cash flow

Published: 20 Jun 24

JSE-listed Harmony Gold Mining Company has informed shareholders that it will meet its production, grade and cost guidance for the financial year to end on June 30, and that it continued to generate "exceptional" operating free cash flow on the back of the recovered grades, a higher rand gold price received and sustained operational excellence. In a pre-close statement published on June 20, CEO Peter Steenkamp notes that group production is expected to exceed the 1.55-million ounces guided, while all-in sustaining costs will come in comfortably below R920 000/kg, as guided.

American Pacific starts drilling at Palmer project

Published: 20 Jun 24

US-focused exploration and development company American Pacific Mining has initiated a diamond drill programme at the high-grade Palmer copper/zinc VMS project in Alaska, with joint venture (JV) partner Dowa Metals and Mining Alaska. “We are excited to begin this year’s drill program at Palmer,” commented CEO Warwick Smith.

K92 closes and upsizes Trafigura loan

Published: 20 Jun 24

Gold miner K92 Mining has announced two new credit facilities with Trafigura to replace a previous loan, upsizing its facility from $100-million to $120-million. Under an accordion feature, the company, which operates the Kainatu gold mine, in Papua New Guinea, can increase the aggregate amount to $150-million.

Sienna acquires new gold project in Saskatchewan

Published: 20 Jun 24

TSX-V-listed Sienna Resources has announced the acquisition of the Stonesthrow gold project, in Saskatchewan. The new project directly borders the Ramp Metals discovery, where multiple zones of gold mineralisation were recently announced, including 73.55 g/t gold and 19.5 g/t silver.

Agnico unveils Detour Lake's pathway to 1Moz/y

Published: 20 Jun 24

Canadian mining company Agnico Eagle Mines has unveiled an ambitious plan to boost production at its Detour Lake mine, in Ontario, to an average of one-million ounces a year over a 14-year period, starting in 2030. This increase is outlined in the New York- and Toronto-listed company’s newly released 2024 life-of-mine plan (LOMP), which includes both updated mineral reserve and resource estimates and a preliminary economic assessment (PEA) for concurrent openpit and proposed underground operations.

New wagons being built for use on the Lobito railway corridor

South African manufacturer to provide 275 new container wagons to Lobito railway project

Published: 19 Jun 24

Joint venture (JV) company Lobito Atlantic Railway (LAR), which is the concession holder for the operation, management and maintenance of the Lobito Corridor spanning Zambia, Angola and the Democratic Republic of Congo (DRC), has placed an order for 275 new container wagons from South African company Galison Manufacturing for an undisclosed sum. The container wagons will be delivered in three tranches, with the first wagons due to arrive in Lobito from the fourth quarter. They will be able to carry 10 ft, 20 ft and 40 ft long containers, providing flexibility in terms of the kinds of loads to be transported.