Research Channel | Advanced Search - Research Channel Africa

Back All

Petra shares plans to reduce operating costs, appoints new CFO

Published: 27 Jun 24

London-listed Petra Diamonds has shared its plan for a sustainable reduction of $30-million a year in operating costs from the 2025 financial year, as well as a smoothing of its development and sustaining capital profile to about $100-million a year at its South African operations to target free cash generation through the cycle. At an investor day presentation, in London, England, on June 27, Petra said approved extension projects were expected to be self-funded, with production growth to over 3.4-million carats expected by the 2028 financial year.

Speakers who participated in Creamer Media's ESG in Mining webinar

Experts unpack the evolution of ESG across the mining value chain

Published: 27 Jun 24

Environmental, social and governance (ESG) has evolved to being driven by external factors such as shareholder activism and investor confidence, rather than regulatory frameworks, finds a panel discussion hosted by Creamer Media on June 26. ESG strategies are also becoming increasingly data-driven, with quantifiable and measurable outcomes and thorough reporting, which many mining companies are doing voluntarily.

New Pacific shares PFS results for Bolivia silver asset

Published: 27 Jun 24

Toronto-listed New Pacific Metals has announced the results of its prefeasibility study (PFS) for the Silver Sand project, in Bolivia, confirming its potential to become a high-grade, low-cost pure silver producer. This, CEO Andrew Williams says, sets it apart as a rare and valuable asset in the industry.

Alaska Natives sue EPA over Pebble mine veto, Northern Dynasty says

Published: 27 Jun 24

Northern Dynasty Minerals said on Wednesday two Alaska native village corporations had sued the Environmental Protection Agency (EPA) for its veto against the Canadian miner's proposed Pebble mine in the state's southwest region. Iliamna Natives Limited and Alaska Peninsula Corporation, which represent the communities closest to the copper and gold mining project, sued the EPA for exceeding its authority related to the veto, Northern Dynasty said in a statement.

Eskay and P2Gold terminate business combination

Published: 27 Jun 24

Canadian juniors Eskay Mining and P2Gold have announced that they would terminate their proposed business combination transaction, citing market conditions. The companies earlier this month announced a nonbinding letter of intent to create a gold and copper explorer focused on the Golden Triangle of British Columbia and Nevada.

Akobo completes processing plant, starts commissioning in Ethiopia

Published: 27 Jun 24

Scandinavia-based gold exploration and mining company Akobo Minerals has successfully completed the construction of its processing plant and has started commissioning activities at its operation in Ethiopia. The company currently holds an extensive exploration licence encompassing 182 km2 and a 16 km2 mining licence with an active mining operation in the Gambela region and Dima Woreda, Ethiopia.

Vedanta in talks with IHC unit, investors for Zambian copper stake sale

Published: 27 Jun 24

International Resources Holding (IRH), the mining investment arm of United Arab Emirates' richest company, is among investors holding talks on buying into Vedanta Resources' Zambian copper assets, a senior Vedanta executive told Reuters. IRH, a unit of Abu Dhabi's International Holding Company which holds about $244-billion in assets, is interested in acquiring a stake in Konkola Copper Mines (KCM) and is conducting due diligence on the assets, Chris Griffith, Vedanta's chief executive for base metals, said.

Australia's Tamboran Resources raises $75m in New York listing

Published: 27 Jun 24

Australia's Tamboran Resources has priced its shares at $24 each to raise $75-million in its New York listing, according to the company's filings on Thursday. The company sold 3.125-million shares in the deal that was priced at the bottom end of the $24 to $27 per share price range flagged when the deal launched last week.

Freeport Indonesia launches $3.7bn Gresik copper smelter

Published: 27 Jun 24

Copper and gold miner Freeport Indonesia on Thursday launched its $3.7-billion copper smelter in Gresik, East Java, that has a total input capacity of 1.7-million metric tons of copper concentrate. The smelter's output capacity will reach around 650 000 t of copper cathode and 50 t to 60 t of gold, said Tony Wenas, CEO of Freeport Indonesia, majority owned by the Indonesian government but operated by US mining giant Freeport McMoran.

Sibanye ‘will have to’ shutter US mine unless palladium recovers

Published: 27 Jun 24

Sibanye Stillwater will be forced to halt operations at its Montana palladium mine if prices don’t recover soon, according to CEO Neal Froneman. “The future of Stillwater remains in the balance,” the CEO said on Tuesday, when asked at a London conference about the outlook for the mine. “I mean it’s as simple as that. If there’s no correction in the price soon, as strategic as it is, we will have to put it on care and maintenance.”