Ferrochrome exports in trouble as Transnet utilisation rate falls to 40%, says Glencore-Merafe JV

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MERAFE Resources and Glencore had encountered “huge problems” exporting ferrochrome from South Africa with utilisation rates on the rail and ports facilities managed by Transnet, the government-owned company, as low as 40% on occasions. Japie Fullard, head of ferrochrome operations at Glencore, said logistical backlogs had been made a top priority of Glencore-Merafe Chrome Venture’s… Read More

Froneman doubles down on gold ambitions saying AngloGold, Gold Fields should merge with Sibanye

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NEAL Froneman, CEO of Sibanye-Stillwater, has doubled down on comments made in February that his company was considering merger and acquisition activity in order to grow the firm’s gold production base. “I think there are three high quality South African companies that should be put together,” Froneman told BusinessLive, referring to his company, Gold Fields… Read More

Nornickel to provide $2b for Norilsk’s development

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Norilsk Nickel to provide 2b for Norilsks development 1 GVlGPx

The funds will be used to launch social initiatives that promote enrollment in the Norilsk State Industrial Institute, as well as projects to build new housing for the city and advance infrastructure enhancements and renovations such as the refurbishing of unused factories and abandoned apartment buildings. Industrial waste clean-up is also among the priorities set… Read More

British Columbia’s mineral exploration spend up 28% – report

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Nationally, despite seeing a marginal decrease, Canada’s exploration expenditure remained third in global rankings behind South America and Australia. The latest annual British Columbia Mineral and Coal Exploration Survey finds that exploration spend across the province increased by 28% year-over-year to C$422m — just short of the highs experienced in 2011 and 2013. “Though the… Read More

MINING.COM MINUTE: Biggest stories of the week

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MINING.COM MINUTE is a roundup of the biggest stories from the global mining and metals industry. [embedded content] This week’s top stories: Resource nationalism surge spells rough times for miners – Read more Rio Tinto, Mongolia reach new Oyu Tolgoi expansion plan deal – Read more Copper price crashes through $4.00, down 7% – Read more… Read More

Global Battery Metals acquires Lithium King property in Utah

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Global Battery Metals acquires Lithium King property in Utah 5lGAqR

According to Global Battery Metals, Lithium King has the potential to host a lithium and magnesium brine deposit. Both materials are present on the site as dissolved salts in a large surface brine aquifer, which is believed to be derived from both surface erosion of lithium-rich rhyolites and mineral-rich geothermal brine flows that go into… Read More

Gold’s Cruel Performance: Should You Be Worried?

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It’s an alarming and uncomfortable feeling for many gold investors. As stocks continue to soar, gold notched its worst month in 4 years falling 6% in February. While a 6% down month may not feel great to your portfolio, it’s nowhere even close to some of the worst months gold has faced. You’ll see in… Read More

Petra sells 299 carat diamond for $12.18 million

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299 carat Type IIa white gem quality diamond recovered at Cullinan in January 2021 wsIG22

The freshly sold find adds to other most famous diamonds unearthed at Cullinan, such as “The Blue Moon of Josephine”. This 29.6 carat blue diamond sold for $48.5 million in 2015, a world record price per carat for any diamond sold at an auction at the time. It achieved $40,701 per carat, which exceeds the… Read More

Copper price crashes through $4.00, down 7%

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Copper price crashes through USD4.00 down 7 percent 7Pwem2

The carnage spilled over onto equity markets with top copper producers hammered led by the world’s number two diversified miner Rio Tinto with a double-digit loss and copper giant Freeport McMoRan, down more than 9% after 30m shares changed hands in New York.  Source: Koyfin The copper price touched an intra-day high of $4.37 a… Read More

Generation Mining feasibility defines 13-year open pit mine

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With all-in sustaining costs pegged at US$809 per palladium-equivalent oz., and an initial capital cost assumption of $665 million, the after-tax net present value for the development is estimated at $1.1 billion with a 29.7% internal rate of return and a 2.3-year payback. These numbers are based on a 6% discount rate for the NPV… Read More

Battery grade lithium prices in China surge 68%

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Benchmark lithium price index Feb 2021 6PodIP

Benchmark’s megafactory tracker points to the extent of the rise in demand reflected in China’s battery production figures, which totalled 12 GWh in January, an increase of nearly 320% compared to the same month last year, when the country was in the first stages of the pandemic. The surge was led by production of LFP… Read More

Savannah’s Portugal lithium project may be cheaper than expected

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“Removal of up to one quarter of the ore feed going into the flotation circuit could have significant positive implications for the capital and operating costs of this section of the concentrator and the project overall,” chief executive David Archer said in the statement. Mina do Barroso is expected to become Europe’s first significant producer… Read More

The US broke record on energy storage deployment in Q4-2020

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The US broke record on energy storage deployment in Q4 2020 iEPWnH

“As prices fall and barriers to storage deployment are eroded, front-of-the-meter (FTM) storage is taking off in the US,” the report reads. “Four out of every five megawatts deployed in Q4 were FTM storage. The segment contributed 529 MW out of the total 651 MW of storage deployed in Q4. California saw the lion’s share… Read More