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An image showing Osino's Twin Hills gold project in Namibia

Sustainability reports highlights Osino’s investment in jobs, Namibia’s economy

Published: 13 Jun 24

TSX-listed Osino Resources’ Twin Hills gold project, located near Karibib in Namibia, is on track to create about 1 000 new jobs in the region, the company’s third annual sustainability report shows. The report summarises the company’s social, environmental and economic performance for the year 2023 and outlines plans for the ongoing integration of sustainability into the design of Twin Hills.

Copper 360 on home straight to produce quite a bit of cash, CEO reports

Published: 13 Jun 24

Copper mining and marketing company Copper 360 is on the home straight to produce quite a bit of cash by financial year end. That was the main takeaway from Mining Weekly’s post-results Zoom interview with the head of the only pure copper play listed on the Johannesburg Stock Exchange (JSE).

Global nickel prices have probably hit a floor, says Macquarie

Published: 13 Jun 24

Global nickel prices may have hit a floor, according to a Macquarie analyst who sees a market recovery driven by strong demand from the steel sector and as a surplus of ore supplies shrinks after Indonesia slowed production permits. "Our belief is that we've seen the bottom, we've seen the supply adjustments, we see the uncertainty in future supply, and that is giving us quite a lot of support where the prices are today," Macquarie analyst Jim Lennon told a conference organised by Shanghai Metals Market in Jakarta this week.

Gold Fields lowers full-year output guidance as Chile mine hit by severe weather

Published: 13 Jun 24

JSE- and NYSE-listed Gold Fields has revised its group-wide full-year production guidance downward, from between 2.33-million and 2.43-million ounces, to between 2.20-million and 2.30-million ounces, owing to a production revision at its Salares Norte project, in Chile, where production is uncertain owing to winter events. The production guidance for Salares Norte has been revised down from the previously indicated gold-equivalent ounces range of 220 000 oz to 240 000 oz, to 90 000 oz to 180 000 oz.

Bezant marks progress at Namibia project

Published: 13 Jun 24

Aim-listed Bezant Resources has completed the chain of contractor services that will make up the Hope and Gorob mining operation, chairperson Colid Bird outlines in an update on the copper/gold project in Namibia. Letters of preparedness have been received from the main contractors responsible for future mining, processing plant construction and concentrate haulage and letters of intent and offers for financing of an off-grid hybrid renewable power supply for the project.

Tucumã on track for first copper in Q3, says Ero Copper

Published: 13 Jun 24

Toronto and New York-listed Ero Copper has been awarded an operational licence for the Tucumã project, in Brazil, passing the final permitting milestone for commercial operation. With physical completion at about 99%, commissioning well advanced and more than 90% of the operational staff hired and trained, Ero continues to expect its first copper concentrate early in the third quarter of 2024.

Demand for Krugerrands up as consumers diversify

Published: 13 Jun 24

Financial institution First National Bank (FNB) says it has seen strong demand from clients buying Krugerrands on its trading platforms as consumers embrace alternative asset classes to diversify their investment portfolios. Over the past year, FNB assisted with facilitating the delivery of over 2 200 Krugerrands on its trading platforms.

An image showing the Metalloys manganese alloy smelter

South32’s Samancor Manganese to sell Metalloys smelter to South African company

Published: 13 Jun 24

South32 subsidiary Samancor Manganese has entered into a binding agreement for the sale of the Metalloys manganese alloy smelter, in Gauteng, to Khwelamet, an entity jointly owned by Menar and Ntiso Investing Holdings. Completion of the transaction is subject to certain conditions, including competition approval and regulatory approvals, which are expected to occur in the second half of the 2025 financial year, at which time the buyer would assume the assets and liabilities comprising Metalloys.

Zimbabwe’s ferrochrome miners agree to build power plants

Published: 13 Jun 24

Zimbabwe’s ferrochrome miners, the nation’s biggest electricity consumers, have agreed to build their own power plants over the next two years as the government seeks to balance energy demand. Under the agreement, ferrochrome producers will in the meantime pay electricity tariffs that are little more than half the rate charged to other mining companies, according to state power utility Zesa Holdings.

New iron-ore exporter for Port of Esperance

Published: 13 Jun 24

The Port of Esperance, in Western Australia, is set to increase its iron-ore trade by 1.5-million tonnes a year, following a new agreement announced by Ports Minister David Michael. Gold Valley Iron Ore has secured access to essential iron-ore infrastructure at the port, marking the first time a second customer has been granted such access.