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South Africa now a compelling world investment story, upbeat Orion highlights

Published: 19 Jun 24

“The sun is finally shining on us,” an upbeat Orion Minerals CEO Errol Smart enthused during an Australia/South Africa webinar on Wednesday, when he outlined how South Africa has become one of the world’s most compelling short-term investment stories. Predicting that this country's investment narrative would super heat over the next couple of weeks, he pointed out how strongly this was advancing Orion’s Prieska copper project, where trial mining has been under way for some time, as well as Orion's high-grade Okiep copper project, which is following closely behind.

Aton further develops Abu Marawat gold concession with promising results

Published: 19 Jun 24

TSX-V-listed gold exploration and mining company Aton Resources has recently carried out further sampling and mapping programmes over several regional targets at the company’s Abu Marawat Concession-retained exploration areas in the Eastern Desert of Egypt. This ongoing exploration programme has so far resulted in 258 selective grab and non-selective surface channel collected from the Black Gaharish, Bohlog, Kab Amira, Semna and Zeno prospect areas within the concession.

De Beers opens entries for this year’s Shining Light Awards

Published: 19 Jun 24

Diamond Miner De Beers has announced that entries for the 2024 Shining Light Awards (SLA) jewellery design competition are officially open. The competition falls under the De Beers Group Designers Initiative (DBGDI), a youth beneficiation skills development initiative aimed at inspiring, igniting and enabling young jewellers with “world-class” jewellery design and manufacturing skills in each of the De Beers Group diamond-producing countries – Botswana, Canada, Namibia and South Africa.

New Red 5 leadership takes office

Published: 19 Jun 24

Following its merger with Silver Lake, ASX-listed Red 5 on Wednesday implemented key changes to the executive leadership team and its board. Mining engineer Luke Tonkin, previously MD and CEO of Silver Lake, has been appointed new MD and CEO of Red 5.

Diamcor seeks to extend closing of second tranche of revised private placement

Published: 19 Jun 24

Diamond mining company Diamcor Mining is seeking to extend the closing of the second tranche of its non-brokered revised private placement following its announcement on June 4 that it had closed the first tranche. The company previously indicated that the original offering, announced on May 1, would be oversubscribed. Diamcor is therefore seeking additional time to accommodate and finalise the documentation and related required items for several additional interested investors.

Taseko restarts mining at Gibraltar

Published: 19 Jun 24

Midtier copper miner Taseko Mines is resuming operations at its Gibraltar mine, in British Columbia, on Wednesday, as a labour agreement have been ratified. The company announced earlier this week that it had reached an agreement with the union representing workers at Gibraltar. The new agreement will be in place until May 31, 2027.

Resources Watch

Published: 19 Jun 24

This week: Copper 360 on home straight to produce quite a bit of cash, CEO reports; Reserve Bank concern about decline of public markets welcome development; and, Artificial intelligence used to eliminate need for rare earths in permanent magnets

Richards Bay Minerals GM for Growth Strategy Bradley Reddy.

Fast-greening Richards Bay Minerals now eyeing on-site renewables, storage, aggregation

Published: 19 Jun 24

Energy-intensive Richards Bay Minerals (RBM), which consumes an average of 1.8 terawatts of power a year, was able to secure its latest 140 MW wind energy power purchase agreement (PPA) in six months. When operating at full capacity, RBMs, power consumption across its mining and smelting operations can reach up to 400 MW and this month’s quickly concluded wind PPA was, in fact, the second renewable-energy project of this Rio Tinto company.

MinRes to shut Yilgarn iron-ore mine

Published: 19 Jun 24

Diversified miner Mineral Resources (MinRes) will shut its Yilgarn iron-ore mine, in Western Australia’s Goldfields region, at the end of the year. The decision, announced on Wednesday, follows an assessment that confirmed that it was not financially viable for the hub to continue beyond the calendar year.

China is building Europe battery supply in Morocco, VW unit says

Published: 19 Jun 24

China is building a battery supply chain for Europe in Morocco, as the continent struggles to develop its own industry to feed electric-car manufacturing, PowerCo’s operations head said. “We don’t have any supply chain. This has to be set up,” Sebastian Wolf, chief operating officer for Volkswagen’s battery unit, said Tuesday at an event in Stuttgart. “Right now, we have to be honest that the set-up of LFP supply chain is happening in Morocco and not in Europe.”