US accelerates battery minerals investment with South32 grant
SOUTH32 said its Hermosa project in Arizona was in line to receive a $166m grant from the US Department of Energy which the miner will put towards the construction of a manganese…
Sibanye-Stillwater puts the financial framework in place for its Finnish lithium mine
SIBANYE-Stillwater has secured a €500m (R10bn) “green” financing package to pay for its proposed Keliber lithium mine project in Finland which is intended to provide lithium to…
Exxaro hopes to announce developments on M&A strategy by year-end
EXXARO hopes to make an announcement on developments in its merger and acquisition (M&A) strategy “before the end of the year” according to chief growth officer Richard Lillieke.…
Qatar takes $180m bet on Brian Menell’s TechMet
QATAR’S sovereign wealth fund has agreed to invest $180m in TechMet, a Dublin-based mining investment company founded in 2017 by Brian Menell, a former executive director of…
Technology may loosen China’s stranglehold over lithium
AN Australian firm backed by Rio Tinto is raising funds to develop lithium mining technology that will reduce reliance on Chinese supply. The Financial Times said ElectraLith,…
Putting the ‘vroom’ into SA’s manganese riches
MANGANESE was the mineral for which Anglo American CEO Duncan Wanblad had no plan in terms of his proposed and far-reaching group restructure. “It is a great business but, given…
Omnia’s BME lights fuse in booming Indonesia
INDONESIA has a habit of minting billionaires. The listing of PT Amman Mineral Internasional was one of the best IPOs globally last year. At $750m it topped the list of debutants…
ETFs in diamonds backed as a necessary step change
AFTER missed copper production guidance last year, the next most criticised aspect of Anglo American’s performance for the 12 months ended December was its 85% stake in De Beers.…
Exxaro pays special dividend while M&A search goes on
EXXARO Resources on Thursday said it would pay a special dividend taking the final payout for its 2023 financial year ended December to R15.82 per share. The special dividend of…
Exxaro earnings to fall on lower realised coal export sales
EXXARO Resources said headline share earnings for the 12 months ended December would fall by between 16% and 30% owing to lower realised export coal sales. The company said in…
Sibanye-Stillwater may deepen cuts after slashing costs R6.6bn
SIBANYE-Stillwater will consider additional restructuring of its operations after outlining on Tuesday R6.6bn in capital expenditure cuts in the last 12 months amid plungeing…
Sibanye-Stillwater to call for calm as funding fears circulate
IF platinum group metal (PGM) prices stay at their current levels this year, one bleak forecast says, Sibanye-Stillwater will break its lender covenants. To keep them afloat it…
Sibanye-Stillwater cuts gold reserves as rand price hits record
SIBANYE-Stillwater reduced its gold reserves 15.7% following the closure of shafts at its Kloof and Beatrix mines in the last 12 months. This comes as the rand gold price reaches…
Anglo may broaden battery minerals business in Finland
ANGLO American said on Monday it had concluded a business agreement with Finland to “support the country’s battery metals strategy”. It said a memorandum of understanding (MoU)…
Base says talks to lift Toliara suspension to resume
BASE Resources said finalising its Toliara project had become a priority for the Madagascar government following elections in the African island nation. Commenting in its…
Has the music stopped for Sibanye-Stillwater?
A MEMORABLE commentary by the ex-CFO of former miner Royal Bafokeng Platinum graphically described in 2021 how the platinum group metals (PGM) market felt like “the early stages…
Nagle’s plan for Glencore rests on this calculated gamble
THREE years after deciding to retain coal production, Glencore has unveiled a proposal to ditch the fossil fuel. Under a deal announced on November 14, it will buy the Elk Valley…
Exxaro confirms no lift in coal exports despite helping TFR
EXXARO Resources said it expected to conclude the sale of its ferroalloys operations by the middle of next year having previously identified it as non-core. The 12,000 tons a…
Sibanye CEO asks shareholders to hang in for ‘ah-ha’ moment
SIBANYE-Stillwater will move into net debt next year as capital expenditure from its battery minerals project pipeline ramped up, the miner said in a presentation on Tuesday.…
Techmet takes $50m option in Rainbow’s Phalaborwa project
TECHMET, an investment company chaired by Brian Menell, could take a 15% to 33% stake in Rainbow Rare Earths’ Phalaborwa project after being granted a $50m, three-month option in…