The yearly shutdown of State-owned Transnet Freight Rail’s iron-ore rail line is planned to start on September 26 and end on October 5. The maintenance window presents an opportunity for the entity to catch up on maintenance backlogs, such as replacing old and obsolete infrastructure, while accelerating the major capital expansions in line with the expected volume growth on the iron-ore line.
In spite of market conditions, Aim-listed Power Metals Resources, headed by Paul Johnson, has continued to make good progress with its exploration projects in Africa as it pursues its key strategic objective of finding large-scale metal discoveries. In Botswana, the company has an 18.26% stake in Kalahari Key Mineral Exploration (KKME), which owns the Molopo Farms Complex (MFC).
Michael Foster has resigned as nonexecutive director and chairperson of Premier African Minerals. CEO George Roach will, strictly for 30 days, act as interim chairperson in an effort to continue supporting Premier’s efforts in the restructuring and diversification of both country and commodity risk, with Premier’s principal focus being the need for a cash-generative asset.
Zambia’s new tax regime has significantly increased the tax burden on mining companies, making the sector unsustainable and uncompetitive, states a report co-authored by Premier Consult Professor Oliver Saasa and The Zambia Institute for Policy Analysis and Research’s Shebo Nalishebo. According to the authors, Zambia has the highest tax burden of all comparable mining countries, and that under the new fiscal regime for the mining sector, the effective tax rate would vary between 86.3% and 105% depending on the copper price.
Aim- and TSX-V-listed Mkango Resources and its subsidiary Maginito have signed an investment term sheet and one-year exclusivity agreement with rare earth magnet recycling company HyProMag. Consistent with Maginito’s strategy, the rationale for the transaction includes potential synergies, such as the blending of primary rare earth production originating from the Songwe Hill mine, in Malawi, with recycled production from HyProMag, as well as enhanced marketing flexibility and access to downstream markets for rare earths permanent magnets, which are materials for electric vehicles, wind turbines, consumer electronics and other technology applications.
The use of batteries could reduce global emissions in the transport and power sectors by 30% by 2030, the World Economic Forum’s Global Battery Alliance outlines in a new report, titled ‘A Vision for a Sustainable Battery Value Chain in 2030’. According to the report, this will create about ten-million jobs and add $150-billion to the global economy, while simultaneously providing electricity to 600-million people.
The world is changing and miners, in many instances, will need to adapt their practices and product offerings to stay relevant, says Aggregate and Sand Producers Association of South Africa director Nico Pienaar. He explains that years of tough trading conditions have reshaped the South African and global economies and that tightening legislation surrounding health and safety, as well as environmental and sustainability issues, have added to miners’ compliance and financial pressures.
A healthy pipeline of projects over the next decade will support lead mine production growth, says research firm Fitch Solutions Macro Research, pointing out that the metal is often produced as a by-product of other metals, including zinc, silver and copper. Globally, the top four producers – China, Australia, the US and Peru – will account for about 70% of global lead mine production over this period.
Aim-listed BlueRock Diamonds has sold a 10.6 ct diamond for $103 000. This is the sixth diamond sold for more than $50 000 this year. Together, the six diamonds have generated revenues of $600 000.
Dual-listed Gemfields, which remains intent on listing on the Aim, delivered a “profitable, but varied” performance during the first half of the year, ended June 30, chairperson Brian Gilbertson said on Friday. He explained that, when compared with the first half of 2018, total rock handling had increased by about 20%, but the recovery of emeralds and rubies in the premium category had decreased by about 37% as the gemstone producer navigated areas yielding lower premium-carat grades.