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FQM to launch formal arbitration versus Panama in July
Published: 28 Jun 24
Canadian miner First Quantum Minerals will launch formal arbitration proceedings against Panama in July over the country's decision to close the giant Cobre Panama mine last November, two people familiar with the matter told Reuters.
The move coincides with the start of a new administration in the Central American country that could determine the future of one of the world's newest and biggest copper mines that had been responsible for 1% of global output prior to being shuttered.
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MC Mining signs R20m loan agreement with shareholder
Published: 28 Jun 24
Coal miner MC Mining has entered into a R20-million, or $1.1-million, loan facility with South Africa-based private company Dendocept for working capital purposes. Dendocept has a 6.8% shareholding in MC Mining.
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Eskom to hit CO2 targets despite coal plant extension, CEO says
Published: 28 Jun 24
South Africa's state power company Eskom will meet its target to reduce carbon emissions by 71-million metric tons a year by the end of the decade, its new CEO said on Friday, despite scrapping plans to retire six coal-fired power stations by then. But CEO Dan Marokane said Eskom's immediate priority was bringing an end to the power blackouts that have devastated the economy of Africa's most industrialised nation over the past few years.
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DRDGOLD assessing its alignment with Responsible Gold Mining Principles
Published: 28 Jun 24
Gold mining company DRDGOLD has started self-assessment in line with the World Gold Council (WGC) Responsible Gold Mining Principles (RGMPs) to determine conformance levels across all DRDGOLD operations. The self-assessment process started in May, after the company joined the WGC last year. Progress on the alignment of internal systems and processes towards conformance with the RGMPs will be published in the first quarter of next year, DRDGOLD said on June 28.
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Marula starts shipping manganese from Larisoro mine to Mombasa port
Published: 28 Jun 24
London- and South Africa-listed battery metals miner Marula Mining has successfully started manganese ore shipping from the Larisoro manganese mine, in Kenya.
Marula is transporting about 1 000 t of manganese ore from the mine to Nairobi under a recently signed export logistics agreement with Scan Global Logistics Kenya (SGLK).
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South Africa will be well represented at Shanghai Platinum Week, Minerals Council assures
Published: 28 Jun 24
South Africa will be well represented at the upcoming Shanghai Platinum Week 2024, which takes place from July 8 to 11, Minerals Council South Africa VP Paul Dunne has highlighted. This major event will occur amid the growth in demand for platinum group metals (PGM) applications in China being extremely high, which makes detailed access to the Chinese market hugely advantageous for South Africa.
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platinum PGMs
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Dealmakers optimistic on global M&A prospects despite sluggish growth
Published: 28 Jun 24
Global mergers and acquisitions (M&A) activity grew at a sluggish pace in the second quarter, yet many dealmakers are upbeat, forecasting transactions will pick up in the second half of 2024. Stubbornly high interest rates, a hostile regulatory environment and a frothy stock market that has made valuations pricey weighed on dealmaking in the last three months.
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Dump truck redesigned to improve surface mining
Published: 28 Jun 24
Last month, heavy equipment manufacturer John Deere announced that it has redesigned its 410 P-Tier Articulated Dump Truck (ADT) with upgrades to its design and productivity performance, following requests by its earthmoving clients through a discussion with customer groups. The 410 P-Tier ADT now incorporates a redesigned and wider dump body that enhances material retention, lowers the loading height, and shifts the centre of gravity downward. These improvements significantly boost cycle times in quarry and aggregate mining applications.
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Emerald miner invests in SA-made dump trucks
Published: 28 Jun 24
Emerald producer Grizzly Mining has invested in 20 B50E articulated dump trucks (ADTs), manufactured by South African mining and construction equipment manufacturer Bell Equipment, for its operation that is located 48 km south-west of Kitwe, in Zambia. The Bell B50E 45 t ADTs will reduce mining costs by optimising economies of scale and consequently ramping up the mine’s production capabilities.
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