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Ivanhoe prices an offering of $750m of senior notes due 2030

Published: 17 Jan 25

TSX-listed Ivanhoe Mines has priced the offering of aggregate principal amount of $750-million of senior notes due 2030. Ivanhoe says the notes will be senior unsecured obligations of the company and will be guaranteed on a senior basis by certain of the company’s subsidiaries.

Ferrochrome smelting at the Lion operation.

Ferrochrome production again only marginally up, Merafe’s latest report shows

Published: 17 Jan 25

The attributable ferrochrome production from the Glencore Merafe Chrome Venture for the fourth quarter was 70 000 t, resulting in a marginal increase of approximately 0.3% in production for the year ended December 31 when compared to the prior comparative period. Merafe’s attributable ferrochrome in the third quarter ended September 30 was also a moderate 2%-higher 76 000 t, resulting in an increase of 2% in production for the nine months, primarily attributed to all operating smelters being in production throughout the winter months.

Harmony appoints three new nonexec directors

Published: 17 Jan 25

JSE-listed Harmony Gold has appointed Mameria Moshe, Zanele Matlala and Mangisi Gule as nonexecutive directors, with effect from January 17. Moshe will serve as a member of the audit and risk committee, while Matlala will serve as a member of the audit and risk committee.

CreditSights questions cultural match between Rio Tinto, Glencore amid rumoured merger

Published: 17 Jan 25

Fitch Solutions company CreditSights says a rumoured merger between major diversified miners Rio Tinto and Glencore could result in a $126-billion company. However, the rumoured merger raises questions about strategic alignment and corporate culture owing to Rio Tinto’s lack of interest in coal assets and Rio Rinto being considered as a conservative and stable company, whereas Glencore is known for its aggressive approach and pushing the envelope in its operations, CreditSights notes.

Botswana expects 2025 economic growth rebound on better diamond market

Published: 17 Jan 25

Botswana's economy is expected to grow 3% to 4% in 2025 after a contraction last year, a senior government official said at a budget workshop on Friday, as the global diamond market is anticipated to recover. The Southern African country's economy shrunk 3.3% in the first three quarters of 2024, raising government expectation of a bigger contraction than the 1.7% forecast in December. An updated contraction estimate was not given.

Premier raises funds for Zulu lithium, tantalum project

Published: 17 Jan 25

London-listed Premier African Minerals has reported a retail offer through a bookbuild of new ordinary shares of no par value each in the capital of the company at an issue price of 0.0275 p each to raise gross proceeds – before fees and expenses – of up to £2.3-million. In addition to the retail offer, the company conducted a placing of new ordinary shares at the issue price to raise gross proceeds of £1.2-million.

Global Uranium announces A$1.8m placement to fund growth

Published: 17 Jan 25

Australia-listed Global Uranium and Enrichment has announced a A$1.8 million placement, which will be directed towards reviewing and conducting due diligence on complementary assets, staking new claims, covering annual project payments, and supporting general working capital needs. The company is currently engaged in advanced discussions about the potential acquisition of assets that align with its growth strategy. These talks also include exploring a possible joint venture for funding and exploration purposes.

An aerial view of the Lake Charles Chemicals Complex

Sasol plans reviving chemical unit and explore potential IPO

Published: 17 Jan 25

Sasol is looking to revive its international chemical business, including a sprawling US complex, to boost earnings and open up an option to potentially list it, according to the company’s chief executive officer. The South African maker of fuel and chemicals from coal reported its first loss since 2020 last year and took billions of dollars in writedowns. The company has about $4 billion of debt and suspended dividend payouts. Its shares tumbled 55% in 2024.

Copper in longest winning streak since 2017 on China demand hopes

Published: 17 Jan 25

Copper headed for an eighth day of gains, its longest winning streak since 2017, as fresh economic data from China brightened the demand outlook in the top metals-consuming nation. The industrial metal was poised for a second weekly advance after data released Friday showed China’s gross domestic product in 2024 expanded 5%, meeting the government’s target. A stimulus push turbocharged activity in the final quarter with growth of 5.4% — the fastest pace in six quarters and beating economists’ median forecast.

China copper and gold firm continues spending spree with $1.9bn stake in lithium miner

Published: 17 Jan 25

Zijin Mining Group, an acquisitive Chinese copper and gold producer, has agreed to buy around a quarter of a domestic miner for $1.9-billion as it seeks to expand into lithium. The mining giant agreed to pay 13.7-billion yuan for a 24.8% stake in lithium and potash producer Zangge Mining Co., it said in an exchange filing late Thursday. The investment, it’s single biggest ever, would give it “controlling power” in the local miner, Zijin said, without providing further details. Its shares rose as much as 1.6% in Hong Kong on Friday.