Gemfields’ Montepuez ruby mine unable to pay group fees
GEMFIELDS’ Montepuez Ruby Mine (MRM) in Mozambique is currently unable to pay management and auction fees to the group, as weak ruby grades continue to weigh on the operation…
Gemfields takes $125m hit at Montepuez ruby mine
GEMFIELDS expects to report a $73.5m loss for the six months to June after taking a $125.2m impairment against its Montepuez ruby mine in Mozambique, where it recovered fewer…
South32 profits surge as reshaped portfolio delivers
South32 cracked it in the year to end-June more than doubling operating profit from continuing operations and declaring a 5.4 US cents final dividend which boosted the total…
Gemfields shares hit record low after CEO exit
SHARES in Gemfields, the JSE-listed coloured-gemstone producer, sank to an all-time low this week, deepening investor unease about the company’s turnaround prospects following…
South32 waiting for IDC to play hand in Mozal sale
SOUTH32 is waiting for firm proposals from minority shareholders in Mozal Aluminium before progressing recently hatched plans to sell the 370,000 ton a year Mozambique smelter.…
South32 to sell aluminium assets to Alcoa for $4.1bn
SOUTH32 is to sell its aluminium assets, including South Africa’s Hillside facilities but excluding the shuttered Mozal Aluminium in Mozambique, to Canada’s Alcoa for $4.1bn in…
Gold Fields “well positioned” to renew Tarkwa licence
GOLD Fields responded to speculation it was set to lose the Tarkwa mine in Ghana saying on Monday it was “well positioned” to continue operating it. Bloomberg News reported on…
Mozambique mining law risks deterring foreign investors
MOZAMBIQUE’S new requirement for the state to hold a 15% free-carry stake in all mining ventures risks deterring foreign investment, said Reuters citing the Southern African…
South32 looking at “various options” with Mozal stake
SOUTH32 said on Monday it was considering its options with respect to its 63.7% stake in the Mozal aluminium smelter in Mozambique amid speculation South Africa’s Industrial…
Mozambique mandates 15% state stake in all mines
MOZAMBIQUE’S President Daniel Chapo has signed into law a requirement for 15% state ownership in all mining ventures, along with a ban on exporting unprocessed or semi-processed…
NextSource closes in on Abu Dhabi plant funding
NEXTSOURCE CEO Hanré Rossouw said his company wouldn’t jump “head first” into building its proposed battery anode factory in Abu Dhabi given geopolitical tensions in the Middle…
Grindrod’s harbour expansion is steaming ahead
PORTS, logistics and rail specialist Grindrod has been gaining more steam in recent weeks. Just before the end of April the share touched a five-year high of R22.26, giving the…
South32 and Eskom in talks over Hillside smelter power supply following closure of Mozal
South32 and Eskom have stepped up negotiations to establish a new electricity supply agreement for the Hillside Aluminium smelter in Kwa-Zulu Natal following the closure of the…
South32 pumps aluminium output to seize high prices
SOUTH32, the global metals producer, is pulling out all stops to take advantage of aluminium prices at four-year highs, even as the Middle East conflict pushes up input costs. As…
Rio Tinto considers options to exit RBM
GLOBAL miner Rio Tinto is “evaluating its options” for its Richards Bay Minerals (RBM) titanium business and actively testing the market for its borates business, it said in its…
World Bank cuts Sub-Saharan Africa growth forecast
THE World Bank has lowered its 2026 growth forecast for Sub-Saharan Africa to 4.1%, unchanged from 2025 and down from the 4.4% it projected in October, citing the economic…
Kenmare’s year of prices, politics and pain
MOZAMBIQUE is having a moment, and not in a good way. Fresh from the divestment of Australian miner South32 following the forced closure of aluminium smelter Mozal near Maputo,…
There’s more to Exxaro price surge than energy security
SHARES in Exxaro Resources ran to a three year high this week and were not far short of their five-year high, reached in 2022. That was shortly after Russia’s invasion of…
US takes stake in graphite miner Syrah Resources
THE US International Development Finance Corporation (DFC) is converting a $31m loan to Australian graphite producer Syrah Resources into equity, giving Washington a roughly 20%…
Kenmare suspends dividend, cuts staff to stabilise finances
KENMARE Resources suspended the final dividend and unveiled plans to retrench employees as weak prices amid a capital roll-out and lower production weighed heavily on the firm’s…