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Drone image of the Lance project facilities on October 9.

Lance uranium on track for December restart

Published: 16 Oct 24

The Lance uranium project, in Wyoming, remains on track to restart production in December, owner Peninsula Energy reported on Wednesday. Lance is one of the biggest uranium in-situ recovery projects in the US, underpinned by a 58-million-pound uranium oxide resource.

High interest rates continue to weigh on South African households

Published: 16 Oct 24

South Africa’s high interest rates over the past two years have raised the average debt cost burden to its highest level in 15 years. This is according to the Altron FinTech Household Resilience Index (AFHRI) for the second quarter of 2024, compiled by economist Dr Roelof Botha, who highlighted the financial pressure many of South Africa’s households remain under.

Antofagasta's Q3 copper output jumps 15% sequentially on destocking

Published: 16 Oct 24

Chilean miner Antofagasta reported a 15% rise in third-quarter copper output on Wednesday, compared with the previous three-month period, due to destocking of inventories at its Los Pelambres mine and better grades at its Centinela mine. The miner said it still expects to finish 2024 at the lower end of its previous forecast range of 670 000 t to 710 000 t of copper production.

Metalkol embarks on Copper Mark assurance process

Published: 16 Oct 24

Diversified miner Eurasian Resources Group’s (ERG’s) Metalkol operation, in the Democratic Republic of Congo (DRC) has officially begun the Copper Mark assurance process, in line with a letter of commitment signed by Metalkol and the Copper Mark on September 12. The Copper Mark is an assurance framework launched in 2020 to address growing international demand for the responsible sourcing and production of minerals, promoting best practice across the copper, nickel, molybdenum and zinc value chains.

Namibia says it needs up to $1.4bn for water security

Published: 16 Oct 24

Namibia requires as much as N$25-billion ($1.4-billion) over the next decade to fulfil water-security requirements, its water minister said. The semi-arid nation of about 3-million people also needs N$10-billion to secure bulk water supply until 2037, with operating costs expected to rise at about 5% to 6% annually, Calle Schlettwein said at a conference in Cairo.

Eramet cuts targets for Gabon and Indonesia mines on market, permit setbacks

Published: 16 Oct 24

France's Eramet on Tuesday cut sharply its 2024 production targets for its manganese mine in Gabon and nickel mine in Indonesia, citing a downturn in the manganese market and a smaller-than-expected permit allowance in Indonesia. The Moanda mine in Gabon and the Weda Bay mine in Indonesia are each the world's biggest for their respective minerals, and have driven Eramet's growth as its historic nickel operation in New Caledonia has been drained by losses and social unrest.

Vale posts highest quarterly iron-ore output since 2018

Published: 16 Oct 24

Brazilian miner Vale reported on Tuesday a 5.5% increase in its third-quarter iron-ore production compared to a year earlier, reaching the highest level in almost six years. The company, one of the world's top iron-ore suppliers, reported output of 91-million metric tons in the three months ended September 30, it said in a securities filing.

South Africa’s water security challenge scores highest in study

Published: 16 Oct 24

South Africa’s low level of renewable fresh water per capita, high water use rates and high levels of both consumption and leakage have resulted in the country having the highest water challenge score in the 2024 BSI / Waterwise Water Security Indicator. With a water security challenge score of 30, South Africa faces a high level of water security risk, which, the study says, is particularly concerning amid the El Niño drought and above-average temperatures in early 2024.