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Resources Watch
Resources Watch
21st August 2024

This week: Africa delivers ‘usual reliable performance’ with steady output, lower costs; Merafe reports R720m half-year profit on higher chrome ore prices, weaker currency and, Exxaro expecting... 


China’s exports of critical minerals recover after curbs imposed
21st August 2024 By: Bloomberg

Chinese exports of critical minerals are returning to more normal levels, undercutting fears that the restrictions imposed by the government last year could choke off supplies crucial to high-tech... 


Coal stockpiles at a mine in Virginia in the US
Coal miner Arch Resources is said to be in talks to merge with Consol
21st August 2024 By: Bloomberg

Arch Resources is nearing an agreement to merge with Consol Energy in a combination that would create a $5-billion coal mining company, according to people familiar with the matter. An agreement... 


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Pilot Crushtec
21st August 2024

With over three decades of experience in the crushing, screening and materials handling industry, Pilot Crushtec International is not only an approved distributor of world class leading brands such... 


Coal-rich Indian state to pass mining tax after court ruling
20th August 2024 By: Bloomberg

The Indian state of Jharkhand has passed a bill imposing mining taxes, according to people familiar with the matter, a move that’s set to inflate the prices of minerals from coal to bauxite. The... 


Menar MD Vuslat Bayoglu.
Menar envisages reviving Metalloys smelter, selling beneficiated manganese to world
20th August 2024 By: Martin Creamer

Menar, which recently signed a deal to acquire Samancor’s Metalloys, envisages reviving the ferromanganese smelting complex and exporting  beneficiated manganese to the world. “It’s an exciting... 


Coal stockpiles at Rukwa project
Shuka unable to immediately draw down funds from AUO
20th August 2024 By: Marleny Arnoldi

Aim-listed Shuka Minerals, which operates the Rukwa coal project in Tanzania, has asked to draw down £500 000 for general working capital purposes from a £2-million convertible note instrument with... 


Sasol's Secunda plant
Sasol profit plunges 66% on weak chemical prices, skips final dividend
20th August 2024 By: Reuters

South African petrochemicals company Sasol reported a 66% fall in full-year profit on Tuesday, mainly due to weaker chemical prices, and skipped a final dividend. Headline earnings, which strip out... 


Initial bids for Anglo's Australian coal mines next month, sources say
Initial bids for Anglo's Australian coal mines next month, sources say
20th August 2024 By: Reuters

First-round bids for Anglo American's Australian metallurgical coal mines are due by September 9, two sources said on Tuesday, as CEO Duncan Wanblad takes initial steps to simplify the company... 


Thungela CEO July Ndlovu
Thungela’s underwhelming interim results attributed to coal price dips, rail inefficiencies
19th August 2024 By: Darren Parker

Coal producer Thungela has blamed an unfavourable price environment across the Richards Bay and Newcastle Benchmark coal prices, together with the continued underperformance by State-owned Transnet... 


Canada-wide freight rail stoppage looms this week as two firms issue lockout notices
Canada-wide freight rail stoppage looms this week as two firms issue lockout notices
19th August 2024 By: Reuters

Canada's freight rail network could come to a grinding halt this week, inflicting a huge economic toll after the country's two largest railroad operators on Sunday issued lockout notices to the... 


Woodside gets environmental go-ahead for Scarborough project; key green group backs down
Woodside gets environmental go-ahead for Scarborough project; key green group backs down
19th August 2024 By: Reuters

Woodside's $12.5-billion Scarborough gas project in Western Australia has all primary environmental approvals in place, the firm said on Monday, after a green group agreed to dismiss its challenge... 


Nedbank CIB Head of Infrastructure, Energy and Telecommunications Mike Peo.
Major shift to green energy under way by mining houses across Africa – Nedbank CIB
16th August 2024 By: Martin Creamer

Virtually every mining house in South Africa is in the process of procuring green electrons, and similar advances are taking place across the African continent, from the Democratic Republic of... 


Whitehaven Coal to cut 192 jobs at mines purchased from BHP
Whitehaven Coal to cut 192 jobs at mines purchased from BHP
16th August 2024 By: Reuters

Australia's Whitehaven will cut 192 jobs at the Daunia and Blackwater coking coal mines it took over from global miner BHP Group, its spokesperson told Reuters on Friday, adding to a slew of roles... 


Exxaro CEO Dr Nombasa Tsengwa.
Exxaro expecting interest rates to begin to lower during the remainder of this year
15th August 2024 By: Martin Creamer

Johannesburg-listed coal and energy company Exxaro is expecting the Federal Reserve, the European Central Bank, the Bank of England and the South African Reserve Bank, among others, to start... 


China's thermal power generation falls for third month in July despite record heat
15th August 2024 By: Reuters

 China's thermal power generation in July fell from a year earlier for a third month even though the country recorded its hottest month in recent history, sending power use rising, statistics... 


Industry and shippers brace for Canada rail stoppage, fear 'catastrophe'
Industry and shippers brace for Canada rail stoppage, fear 'catastrophe'
15th August 2024 By: Reuters

North American industry groups and shippers are bracing for an unprecedented simultaneous stoppage at both of Canada's main railway companies that could inflict billions of dollars' worth of... 


Exxaro CEO Nombasa Tsengwa.
Exxaro declares interim dividend on higher revenue, lower profit
15th August 2024 By: Martin Creamer

Mining and renewable energy company Exxaro Resources has declared an interim dividend in reporting its interim results for the six months to June 30. Half-year revenue of the Johannesburg Stock... 


Energy Council of South Africa CEO James Mackay
‘Necom 2.0’ to focus on system-wide constraints to electricity security and affordability
14th August 2024 By: Terence Creamer

Amid waning loadshedding, government and business have agreed to begin “repurposing” the National Energy Crisis Committee (Necom) to shift focus from interventions aimed at arresting the... 


South Africa's mining production decreased by 3.5% y/y in June
13th August 2024 By: Creamer Media Reporter

South Africa's mining production decreased by 3.5% year-on-year in June, with gold, platinum group metals (PGMs), coal and "other" metallic minerals having made the biggest negative contributions.... 


Coal being transported on TFR's coal rail line
South Africa's coal export line will need five years to refurbish
13th August 2024 By: Bloomberg

South Africa’s State-owned rail company needs $669-million and five years to upgrade equipment to revive performance of its main export coal line, according to an internal report. Coal shipments... 


Barrick CEO Mark Bristow
Barrick open to being partner in Cobre Panama mine, CEO says
13th August 2024 By: Reuters

Barrick Gold stands ready to be a partner in the Cobre Panama copper mine once the Panamanian government decides on the disputed asset's future, Mark Bristow, CEO of the Canadian gold and copper... 


Tribunal approves ARM’s buyout of remaining Nkomati JV stake
12th August 2024 By: Sabrina Jardim

The Competition Tribunal has unconditionally approved African Rainbow Minerals’ (ARM’s) proposed transaction to acquire the remaining participation interest in the Nkomati joint venture (JV) and an... 


On-The-Air (09/08/2024)
On-The-Air (09/08/2024)
9th August 2024 By: Martin Creamer

Martin Creamer talking on copper, gold and ferrochrome. 


Image of Garzweiler mine, Germany
Garzweiler mine, Germany
9th August 2024 By: Sheila Barradas

A lignite mine in North Rhine-Westphalia, Germany. 


Location map of the Makhado coal project
Makhado steelmaking hard coking coal project, South Africa – update
9th August 2024 By: Sheila Barradas

Funding and development activities for Makhado are ongoing. 


Exxaro warns of lower interim earnings
8th August 2024 By: Sabrina Jardim

Diversified mining company Exxaro says it expects its headline earnings per share (HEPS) for the six-month period ended June 30 to be between 31% and 45% lower than that reported for the six-month... 


Seriti Green CEO Peter Venn and Seriti Group CE Mike Teke.
Global energy winners will be those transitioning quickly and effectively
8th August 2024 By: Martin Creamer

When it comes to the energy transition, the countries that implement the strongest energy portfolios and power grids the fastest and most effectively are going to be the winning countries. That is... 


Copper 360, AngloGold, Glencore make headlines
Copper 360, AngloGold, Glencore make headlines
8th August 2024

Mining Weekly Editor Martin Creamer joins me today to unpack the Rietberg copper mine possibly becoming the cash cow of Copper 360; AngloGold Ashanti's interim dividend improvement and strong free... 


An image of Minerals Council CEO Mzila Mthenjane
Mining industry impacted by challenging environment, but employment prevails
7th August 2024 By: Tasneem Bulbulia

South Africa’s mining industry underperformed in several areas last year owing to considerable challenges; however, employment defied the poor operating environment and grew, industry organisation... 


Copper processing plant in Argentina.
Argentina is the next frontier for copper growth, says Glencore
7th August 2024 By: Martin Creamer

Argentina is the next frontier for copper growth, “no question”, Glencore CEO Gary Nagle highlighted on Wednesday when the London- and Johannesburg-listed diversified mining and marketing company... 


China's July coal imports rise to seven-month high
China's July coal imports rise to seven-month high
7th August 2024 By: Reuters

China's coal imports rose to a seven-month high in July, General Administration of Customs data showed on Wednesday, as traders took contracted cargoes to coincide with China's peak power demand... 


Head of the Project Management Office in the Presidency Rudi Dicks
$613m in JET-IP grants have been allocated to projects, Presidency reports
7th August 2024 By: Terence Creamer

The Presidency has released new details showing that $613-million of the $821-million in grants pledged to support South Africa’s Just Energy Transition Investment Plan (JET-IP) have now been... 


Glencore CEO Gary Nagle.
Glencore highlights strategic achievements, earnings 33% down
7th August 2024 By: Martin Creamer

iversified mining and marketing company Glencore on Wednesday highlighted what it described as “strong strategic achievements for the group over the year to date”. Against the backdrop of lower... 


Glencore chairperson Kalidas Madhavpeddi.
Glencore to continue to oversee responsible decline of thermal coal operations
7th August 2024 By: Martin Creamer

Diversified mining and marketing company Glencore is to continue to oversee the responsible decline of its thermal coal operations over time, the board has decided. While the decision has been... 


Vametco
Bushveld optimistic about next 18 months following corrective measures
6th August 2024 By: Darren Parker

Ahead of the company's upcoming AGM, Aim-listed vanadium producer Bushveld Minerals has said the outlook remains positive for the remainder of this year into 2025 owing to the rationalisation of... 


India shelves plan for coking coal import consortium, sources say
6th August 2024 By: Reuters

India has abandoned a plan to form a consortium of state-run companies for joint negotiations to import coking coal, a key raw material for steel, due to differences among mills over the grades... 


Benjamin Sibanda, Managing Director, Mato Products
Mato Products to showcase its latest conveyor belt cleaning solutions at Electra Mining Africa 2024
6th August 2024

Mato Products will showcase its latest product range and innovations in conveyor belt fasteners and cleaning systems at Electra Mining Africa, taking place from 2 to 6 September 2024. Recognised as... 


Deep Yellow head of business development Andrew Mirco
Deep Yellow projects robust uranium demand, prices to stay higher
6th August 2024 By: Mariaan Webb

Pure-play uranium company Deep Yellow aims to produce ten-million pounds a year within the next decade, driven by strong demand and a market deficit, says head of business development Andrew Mirco.... 


BLSA CEO Busisiwe Mavuso
More upgrades to growth outlook seen as reform momentum continues – Mavuso
5th August 2024 By: Sabrina Jardim

Citing progress in dealing with the country’s logistics challenges and the ability of Operation Vulindlela to speed up reforms, economists at the Bureau for Economic Research (BER) last week... 


WA gold companies shine but critical minerals pull index down
WA gold companies shine but critical minerals pull index down
5th August 2024 By: Creamer Media Reporter

Gold-focused Western Australia companies have shone in 2024, with strong prices driving merger and acquisition (M&A) activity, while prices for some critical minerals, including lithium and rare... 


Vitol extends deal spree with purchase of fallen rival Noble
Vitol extends deal spree with purchase of fallen rival Noble
2nd August 2024 By: Bloomberg

Vitol Group has agreed to buy the last remaining piece of fallen Asian commodity trader Noble, as the energy trading giant recycles its blockbuster profits to go on an acquisition spree. Vitol... 


Peabody achieves first development coal at Centurion
Peabody achieves first development coal at Centurion
2nd August 2024 By: Mariaan Webb

The Centurion coking coal growth project, in Australia, is continuing to advance on time and on budget, reports US-headquartered miner Peabody reports. The company has produced the first... 


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