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Resolute CEO, two other employees leave Mali after release from detention

Published: 21 Nov 24

ASX- and LSE-listed Resolute Mining has confirmed that its CEO Terence Holohan and two other employees have left Mali after finally being released from detention. "All three employees are safe and well," the company says.

Resources Watch

Published: 20 Nov 24

This week: South Africa has impressively low battery manganese incentive price, Mintek@90 hears and, South Africa back on investor radar screen, Roger Baxter reports

AngloGold, Centamin merger passes another hurdle

Published: 20 Nov 24

Gold miners Centamin and AngloGold Ashanti have reported that the Jersey Court has sanctioned the scheme of arrangement between the two parties that will result in AngloGold acquiring all of Centamin's share capital.

UBS joins Goldman in forecasting that gold’s rally isn’t over

Published: 20 Nov 24

Gold will rally to $2 900/oz by the end of next year, according to UBS Group, echoing a call from Goldman Sachs Group for further gains as central banks expand their holdings. There’s likely to be a period of consolidation due to the stronger dollar and concerns over the potential for more US fiscal stimulus to lead to higher rates before the precious metal starts climbing again, UBS analysts including Levi Spry and Lachlan Shaw said in a note. Bullion would rise further, to $2 950 an ounce, by the end of 2026, they said.

Remodelled draft IRP to be unveiled next week for limited public consultation

Published: 20 Nov 24

A remodelled Integrated Resource Plan (IRP) for electricity will be released to the public next week and is expected to deviate materially from the heavily criticised draft IRP2023, which was published for public comment in January. Electricity and Energy Minister Dr Kgosientsho Ramokgopa says the revamped document has taken account of changes in the electricity supply industry since the publication of the draft IRP2023, as well as the 4 338 stakeholder comments received on the document, including 136 “substantive” comments.

A truck carrying coal with a coal-fired power station in the background

Group of nations make COP29 pledge on no new unabated coal power

Published: 20 Nov 24

A total of 25 countries and the EU are pledging to commit to no new unabated coal power in their next round of national climate plans, the latest global pledge aimed at curbing use of the fuel. Signatories to the agreement, outlined during the ongoing COP29 climate talks in Baku, include Canada, the UK and Germany, according to a statement published Wednesday. China and India, the world’s largest coal consuming nations, aren’t among backers so far, and neither is the US.

Marvel’s Mali asset sale falls through

Published: 20 Nov 24

Marvel Gold’s planned sale of its gold projects in Mali will not proceed as originally intended, the Australian junior mining company announced on Wednesday. The decision follows recent developments in Mali, where Australian company Resolute Mining has encountered significant challenges. This week, Resolute reached an agreement to pay $160-million to Mali's government after the country’s junta detained the company’s CEO and two other employees.

Kore signs final fixed-price EPC contract for its Kola project

Published: 20 Nov 24

Potash development company Kore Potash, which owns 97% of the Kola and DX projects in Congo-Brazzaville, has signed a final engineering, procurement and construction (EPC) contract with PowerChina International Group for the construction of the 2.2-million-tonne-a-year muriate of potash (MoP) Kola project. The EPC contract has been signed at a fixed price of about $1.93-billion, with $708.9-million of that allocated for the construction of transportation links and utility pipelines that will enable the project to avoid relying on State infrastructure.

Canadian regulator orders halt to Sunshine Oilsands operations

Published: 20 Nov 24

A Canadian regulator has ordered Sunshine Oilsands to suspend its operations, including wells, facilities and pipelines,in northern Alberta's oil sands regiondue to continuous non-compliance with environmental and public safety rules. The Nov. 14 order from the Alberta Energy Regulator (AER) also demanded that Sunshine Oilsands post a security deposit of C$6 091 318 ($4.36 million) to offset the estimated cost of abandoning or reclaiming a well or facility.

NexGen reaches permitting milestone for Canadian uranium project

Published: 20 Nov 24

Canadian uranium developer NexGen Energy on Tuesday announced a significant milestone in the federal environmental assessment (EA) for its Rook I project on the Patterson Lake peninsula in the south-western Athabasca. The Canadian Nuclear Safety Commission (CNSC) has provided NexGen formal confirmation that the company has successfully addressed all information requests received as part of the federal technical review.