TSX-V-listed Diamcor Mining has recovered a 72.53 ct gem-quality diamond at its Krone-Endora at Venetia mine, in South Africa's Limpopo province. The diamond is being offered for tender and sale in Dubai and is expected to offset the lower-than-expected total of carats sold by Diamcor in the first sale of this quarter.
London-listed Petra Diamonds says the actions it has taken to strengthen the business and improve cashflow generation, together with capital discipline, places the company in good stead for the remainder of the current financial year and for the following years, despite the company posting an interim net loss of $17.6-million. CEO Richard Duffy says the fundamentals of the diamond market will continue to support prices, with demand for luxury goods remaining robust in the US, notwithstanding economic volatility.
South Africa’s Kumba Iron Ore sees itself as a critical player in the decarbonisation journey. Regarding tricky Scope 3 emission reduction, the Anglo American company is partnering with top steelmakers Salzgitter, ThyssenKrupp and Nippon to cut its Scope 3; advancing fast towards generating its own solar power from the hot Northern Cape to lower its Scope 2 emissions; and looking to green hydrogen fuel cell mine trucks to cut its Scope 1 emissions.
The Ugandan government has started to set up a national mining company that will aim to take equity stakes of up to 15% of all medium and large-scale mining operations in the country, the minister for energy and minerals said on Tuesday. Ugandan geologists say the country has large deposits of a range of minerals including gold, cobalt, copper, iron-ore, rare earths, vermiculite and phosphates. The country is also aiming to start pumping crude oil in 2025 from fields in its west.
Chilean miner Antofagasta on Tuesday more than halved its annual dividend and said its full-year profit dropped 39%, as high input costs, reduced copper grades, and a drought in Chile hit its copper production. The group's earnings before interest, tax, depreciation, and amortisation for 2022 was $2.9-billion, compared with $4.84-billion a year ago.
Diversified miner Rio Tinto and automotive giant BMW on Tuesday announced a memorandum of understanding (MoU) for the supply of low-carbon aluminium from Canada into the BMW supply chain. Under the new partnership, Rio Tinto plans to provide aluminium to BMW’s vehicle production plant in Spartanburg, South Carolina, for use in body components from 2024.
Diversified miner BHP is speeding up work at its Jansen potash mine, in Canada, as the group sees an attractive entry opportunity for supply in lower-risk jurisdictions amid increased geopolitical uncertainty. The company, which previously bought forward first production at Jansen Stage 1 from 2027 to the end of 2026, on Tuesday confirmed that the feasibility study for Stage 2 will be completed a year earlier than previously planned.
Trafigura Group has appointed new co-heads of battery metals trading — a business the commodities giant has said was the victim of a “systematic fraud” that could cost it more than half a billion dollars. Mehdi Wetterwald and Daniel von Arx, who have both worked at Trafigura for over a decade, will run the global nickel, cobalt and lithium trading operations, according to a person familiar with the matter. Bloomberg reported earlier this month that head of nickel and cobalt trading Socrates Economou is leaving the group... Читать дальше...
Diversified miner BHP on Tuesday flagged plans to divest of the Daunia and Blackwater coal mines, in Queensland, under the BHP Mitsubishi Alliance (BMA). The miner said in its interim results that given its strategy to focus its coal portfolio on the highest quality metallurgical coals, the BMA partners have started to pursue options to divest the Daunia and Blackwater mines following detailed considerations of BMA’s longer-term plans.
Diversified major BHP has reported a 16% fall in revenue for the half-year ended December, while profits after tax fell by 32% on the previous corresponding period. Revenue from continuing operations declined from $30.5-billionto $25.7-billion while profits after tax was reported at $6.4-billion, down from the $9.44-billion in the previous corresponding period.
Global metals miner Sibanye-Stillwater has launched a A$1.10 a share takeover offer for Australian zinc miner New Century Resources, in which it already holds a 19.9% interest. Sibanye-Stillwater on Tuesday expressed concern about the change in the strategic directions of New Century under its current management, with the building of a tailings asset management services business no longer a focus.
