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BHP CEO Mike Henry
BHP CEO Mike Henry
BHP walks away from $49bn pursuit of mining rival Anglo
29th May 2024 By: Reuters

Mining group BHP Group on Wednesday walked away from its $49-billion plan to take over rival Anglo American, which rejected a last-ditch request for more time, ending for now its six-week pursuit. BHP's aim was to secure Anglo's prized copper... 


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Lithium Universe confirms its procurement strategy for Québec lithium refinery project
28th May 2024 By: Darren Parker

ASX-listed Lithium Universe has confirmed that it will adopt a “same equipment, same supplier” procurement strategy for its Bécancour lithium refinery project, in Québec, Canada. This follows a... 


China’s silver imports set to jump as solar demand lifts prices
China’s silver imports set to jump as solar demand lifts prices
29th May 2024 By: Bloomberg

Chinese silver imports could surge in coming weeks, as traders take advantage of a jump in demand that’s taken prices well above the international market. Silver’s in a sweet spot because of its... 


Sierra Nevada reviews assets, focus shifts to Blackhawk
28th May 2024 By: Creamer Media Reporter

Australia-listed Sierra Nevada Gold has announced a strategic review of its assets, exploring options such as joint ventures, strategic partnerships or project sales. The company has five... 


New power contract facilitates Sierra Rutile's Area 1 restart
New power contract facilitates Sierra Rutile's Area 1 restart
Updated 3 hours ago By: Mariaan Webb

Mineral sands miner Sierra Rutile has restarted operations at Area 1 in Sierra Leone, facilitated by a new contract for additional power generation capacity. The ASX-listed company has entered... 


Investors relieved BHP walked from Anglo takeover deal
Investors relieved BHP walked from Anglo takeover deal
Updated 4 hours ago By: Reuters

nvestors welcomed BHP Group's decision to walk away from a $49-billion plan to take over its rival Anglo American, which rejected three proposed offers from the top global miner over the past six... 


China 2024 rare earths quota growth set to slow amid supply glut
29th May 2024 By: Reuters

Rare earth quotas in China, which the world's top producer uses to control supply, are set to rise at a much slower rate this year amid a supply glut, industry participants said on Wednesday. Rare... 


Botswana President Mokgweetsi Masisi
Botswana wants quick separation of De Beers from Anglo, President says
29th May 2024 By: Reuters

Botswana is hoping for a quick separation of De Beers from the Anglo American group before the UK-listed diversified mining giant is exposed to a possible hostile takeover, President Mokgweetsi... 


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Anglo American digs in its heels, denies BHP's extension request
Anglo American digs in its heels, denies BHP's extension request
29th May 2024 By: Mariaan Webb

Diversified miner Anglo American on Wednesday denied BHP’s request for more time to engage on a proposed takeover transaction, stating that its fundamental concerns regarding the $49-billion... 


BHP seeks extension as crunch time for $49bn Anglo bid approaches
BHP seeks extension as crunch time for $49bn Anglo bid approaches
29th May 2024 By: Reuters

BHP Group on Wednesday asked for more time to try to win over takeover target Anglo American, hours before a deadline for the world's biggest miner to firm up its $49-billion offer for its smaller... 


Indonesia buying record amounts of Philippine nickel ore due to quota delays, sources say
29th May 2024 By: Reuters

Top nickel producer Indonesia has bought record volumes of nickel ore from the Philippines since April as smelter demand increases, while delays by Jakarta in issuing mining quotas and heavy rains... 


Sheffield ramps up production at new WA mineral sands mine
Sheffield ramps up production at new WA mineral sands mine
29th May 2024 By: Creamer Media Reporter

Ramp up activities at the Thunderbird mineral sands mine, in Western Australia, are progressing well, with the new mine moving towards nameplate capacity, ASX-listed executive chairperson Bruce... 


Kizito Pakabomba was appointed to oversee the Mines Ministry and Congo's globally significant reserves of coltan, copper and other minerals.
DR Congo names new government after months of delay
29th May 2024 By: Reuters

Democratic Republic of Congo has appointed a new government, spokesperson Tina Salama said in the early hours of Wednesday, ending an impasse that has mired the country in political uncertainty for... 


Mongolia defends plan to tap mining riches for new sovereign wealth fund
Mongolia defends plan to tap mining riches for new sovereign wealth fund
29th May 2024 By: Bloomberg

Mongolia’s prime minister defended changes to the country’s mining laws after foreign investors raised concerns they could deter investment in its large reserves of critical minerals, including... 


A road leading to the nearby Renard operation
Winsome hikes Adina mineral resource estimate
29th May 2024 By: Creamer Media Reporter

Lithium exploration and development company Winsome Resources has substantially increased the resource of the Adina project, in the Eeyou Istchee James Bay region of Quebec, while also enhancing... 


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Anglo American's head office in South Africa
BHP, Anglo dig in even as takeover talks deadline nears, sources say
28th May 2024 By: Reuters

BHP was struggling to find common ground with Anglo American on Tuesday in talks over its takeover offer, with no new concessions as a deadline nears for the world's biggest miner to submit a... 


Marula reports high-grade manganese assays from testwork with potential offtaker
28th May 2024 By: Marleny Arnoldi

UK- and South Africa-listed battery metals miner Marula Mining has reported average grades of 35.73% from manganese samples taken from the Larisoro manganese mine, in Kenya. The company garnered... 


Globe says Kanyika capital funding requirements finalised at $46m
28th May 2024 By: Sabrina Jardim

Australia-listed Globe Metals and Mining has reported that capital funding requirements for Phase 1 project development at its Kanyika Niobium project, in Malawi, have been finalised at an... 


Dr Vincent Maphai (left) and Neal Froneman.
Measures to address loss-making assets expected to secure R6.6bn yearly, Sibanye AGM hears
28th May 2024 By: Martin Creamer

The measures that green metals and gold mining company Sibanye- Stillwater has taken to address loss-making assets are expected to secure yearly savings and capital expenditure deferrals of... 


An image of Ivanhoe founder and executive co-chairperson Robert Friedland
Ivanhoe completes Phase 3 concentrator construction at DRC project ahead of schedule
28th May 2024 By: Tasneem Bulbulia

TSX-listed Ivanhoe Mines announced that, on May 26, first ore was fed into the Phase 3 concentrator at the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC). First ore marks the... 


Graphite ore shard
Blencowe continues to advance graphite prequalification work, expects offtake agreements soon
28th May 2024 By: Marleny Arnoldi

As London-listed Blencowe Resources advances the definitive feasibility stage of the Orom-Cross graphite project, in Uganda, towards production near the end of 2025, the company has had various... 


Manganese mining operation
Jupiter forecasts higher manganese prices in coming months
28th May 2024 By: Marleny Arnoldi

ASX-listed Jupiter Mines marketing head Tracey Cloete says manganese ore prices are likely to trade higher than the historical average in coming months owing to supply disruptions. Jupiter has a... 


Sector News

Magazine

Magazine round up | 24 May 2024
Magazine round up | 24 May 2024

A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.  

SUBSIDY REINSTATED: The International Monetary Fund (IMF) estimates that the reintroduction of a gasoline subsidy in Nigeria could consume almost half of the country’s projected oil revenue this year. President Bola Tinubu halted the subsidy at in mid-2023 to help government repair its finances. However, the removal and a devaluation of the naira, led fuel prices to more than triple, fanning inflation and protests. The IMF said it expects the fuel subsidy to be phased out within two years, as a cash-transfer programme was implemented to cushion poor consumers. Photograph: Bloomberg
SUBSIDY REINSTATED

The International Monetary Fund (IMF) estimates that the reintroduction of a gasoline subsidy in Nigeria could consume almost half of the country’s projected oil revenue this year. President Bola... 

Photo of Martin Creamer
Green energy collaboration a must to reindustrialise South Africa

The industrialisation that South Arica has lost in the last few decades can be more than regained by the country collaborating fully when it comes to green electrons, green molecules and the new... 

Photo of Terence Creamer
Unintended consequences?

It is highly unlikely that South Africa would have made the progress it has in stabilising electricity supply and setting in place initiatives to halt the collapse of the country’s... 

Business Leader

 	Mike Benfield, Group CEO of Macsteel Service Centres South Africa
Mike Benfield

This week we profile Mike Benfield, Group CEO of Macsteel Service Centres South Africa, a merchandiser and distributor of steel and value-added steel products 



DEVASTATING: The deadly collapse of a building in George while under construction is simply devastating for the families of the workers who perished. It has also raised a number of questions about the state – including the state of safety – of South Africa’s building and construction industry. The industry today is almost unrecognisable from what it was before so many of the country’s listed building majors either closed due to financial distress or exited the sector.
DEVASTATING

The deadly collapse of a building in George while under construction is simply devastating for the families of the workers who perished. It has also raised a number of questions about the state –... 

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