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Perseus increases shareholding in Predictive to 19.9%

Published: 06 Sep 24

ASX-listed Perseus Mining has increased its shareholding in fellow-listed Predictive Discovery to 19.9%. This follows the company in August acquiring an interest of 13.8% of the issued shares of Predictive as a strategic equity investment.

Distribution infrastructure in South Africa

Germany ready to help fund R390bn South African grid revamp

Published: 06 Sep 24

Germany is willing to help fund the R390-billion ($22-billion) that South Africa said it needs to incorporate more solar and wind power into the national grid and ensure its energy security. The European nation will be able to provide some funding once the scope for the grid-expansion project has been determined, according to its special envoy for a climate-finance pact between South Africa and some of the world’s richest countries. The deal, which was agreed in 2021 and is now worth $9.3-billion, has been criticized for its slow implementation.

China’s steel crisis drives iron-ore to worst week since March

Published: 06 Sep 24

Iron-ore steadied to remain on track for its worst week since March, with few signs of a recovery for China’s beleaguered steel market. “There is no significant improvement in demand for steel products, so there’s little room for steel mills to resume production,” Zhang Shaoda, an analyst with China Futures Co., said by email. “The downward trend for iron ore is expected to continue.”

Woodside raises $2bn in bonds amid rising investor worries over capex plans

Published: 06 Sep 24

Australia's Woodside Energy raised $2-billion in the US bond market, it said on Friday, driving it shares lower on growing worries over the oil and gas producer's capital expenditure plans. The bond issue was in two tranches -- $1.25-billion via 10-year bonds with a coupon of 5.1% and $750-million through 30-year bonds with a coupon of 5.7%.

Shareholders of Base Resources greenlight Energy Fuels acquisition

Published: 06 Sep 24

NYSE American- and TSX-listed Energy Fuels has cleared a major hurdle in its acquisition of Base Resources, as the latter’s shareholders voted overwhelmingly in favour of the buyout during a special meeting held in Perth, Australia, on Thursday. At the meeting, 99.88% of the votes cast by Base shareholders were in favour of the transaction.

Yukon gold mine disaster sparks fears of soaring taxpayer bill

Published: 06 Sep 24

The sudden collapse of Victoria Gold's Eagle Mine — and with it, the company — is part of a long and ugly history in northern Canada. To this day, Canada’s federal government is still cleaning up arsenic and cyanide spills from mines that were abandoned by their owners decades ago. The country’s taxpayers are footing the bill.

Codelco buys Enami's 10% stake in Teck's Quebrada Blanca mine

Published: 06 Sep 24

Chilean State-run miner Codelco has purchased Enami's 10% stake in Teck's Quebrada Blanca mine in northern Chile for $520-million, it said on Thursday. The deal will contribute 25,000 to 30 000 metric tons of copper to Codelco's annual output, Codelco said. The deal comes as the world's top copper miner is struggling to boost declining production levels.

VENGAI MADZIMA
The primary goal of the Masterclass is to equip participants with the knowledge required to operate effectively within Zimbabwe’s mining sector

Masterclass responds to rapidly changing regulatory environment

Published: 06 Sep 24

The Zimbabwe Mining Law Masterclass 2024, hosted by research and market analyst company African Influence Exchange (AIE) last month, responded to the rapidly changing regulatory environment in Zimbabwe’s mining sector – an industry that law firm MCM Legal senior partner Vengai Madzima says remains a “cornerstone” of the nation’s economy. With abundant mineral resources – including gold and coal – he notes that Zimbabwe holds immense potential for both local and international investors; however, leveraging this potential requires a deep understanding of the legal frameworks that govern the industry.

SUPPORTING DIVERSIFICATION
A drive towards supporting in-country beneficiation has spurred the growth of a supporting engineering and project construction industry in Zimbabwe

Company navigates growing mining sector amid increased demand

Published: 06 Sep 24

Amid growing global demand for critical minerals, such as lithium, graphite, manganese and iron, Zimbabwe is increasingly becoming a focal point for mining activities, says mining consultancy Minrom CEO Oscar van Antwerpen. The country’s strategic location – particularly its accessibility to the east coast of Africa, through Mozambique, for exports – positions it favourably in the global market, he says.

MILLING PRODUCTS Metso received a €20-million order to deliver grinding mills to an African copper mining project, including energy-efficient HIGmill high-intensity stirred mills with auxiliary equipment and services

Products reintroduced, mill order received

Published: 06 Sep 24

In June, industrial machinery company Metso announced its reintroduction of the OtoVent off-gas treatment technology for the quenching of various types of off-gases in non-ferrous and ferrous metallurgical processes and in oil, gas and chemical plants. OtoVent, used for example, at the most modern copper smelters, has high quenching and pre-dedusting capability, and the design ensures low maintenance effort.