Mining Weekly

The last time BHP Group took a swing at another major miner, it was Rio Tinto back in 2007. That could have been a blockbuster $150-billion takeover, but with metals prices crashing as the financial crisis took hold and with China signaling its discontent, the plan crumbled. Having confirmed its takeover approach for rival Anglo American on Thursday, executives at the world’s biggest digger will be hoping for a better outcome this time — even with one of the most complex deals the industry has seen in years.

JSE-listed Impala Platinum Holdings (Implats) has initiated a Section 189(3) consultation process at its South African operations, signalling thousands of potential job losses. Implats envisages a reduction of about 3 900 positions, constituting  a 9% reduction in labour across the Impala Rustenburg, Impala Bafokeng and Marula operations. The corporate office aims for a 30% reduction in head office costs.

ining and trading house Glencore will invest in Nigeria's mining sector if the government ensures a stable business climate, the company's CEO said on Thursday during a visit to Nigeria's minister in charge of solid minerals. The visit comes as Nigeria is seeking to woo foreign investors to its undeveloped mining sector.

South Africa-focused coal company MC Mining on Friday announced the resignation of Nhlanhla Nene as director and chairperson of the board. Nene joined the company on April 11, 2022, initially serving as a nonexeuctive director and then as chairperson from April 28, 2022.

JSE-listed Anglo American Platinum (Amplats) has appointed Sayurie Naidoo as CFO and executive director, with effect from May 1. Naidoo, who has been serving as the acting CFO since Craig Miller assumed the role of CEO in October 2023, brings more than 15 years of experience with Anglo American to her new position.

Diversified miner Anglo American has firmly rebuffed a $38.8-billion proposal from mining heavyweight BHP, with chairperson Stuart Chambers dismissing the nonbinding offer as “highly unattractive”. In a statement released on Friday, Chambers labelled the BHP proposal as opportunistic and lacking in appreciation for Anglo’s prospects.

As uranium developer Bannerman Resources progresses with its plans for an initial eight-million-tonne-a-year Etango project, in Namibia, it is casting its gaze towards a broader horizon. The company has started to delve into potential expansion options, aiming for a larger-scale operation in the future. The ASX-listed junior recently completed a scoping study that looks at the long-term optionality afforded by the large-scale Etango resource. Executive chairperson Brandon Munro highlighted the study’s findings, emphasising a “clear pathway” towards achieving a production capacity of 6.7-million-pound-a-year.

When former boss Mark Cutifani left Anglo American in mid-April 2022, things had rarely looked better for the century-old miner. Metals prices soared as the world emerged from lockdowns, the company had recently posted its best-ever annual profit and the popular industry veteran was handing over to a trusted lieutenant. Anglo stock hit a record the same day. Two years later, the company’s reputation is in tatters after a series of missteps sent its value plunging by half. And now industry heavyweight BHP Group is moving in.

Local mobile and semi-mobile crushing and screening equipment provider Pilot Crushtec has expanded its product lineup to the Southern African mining market with the addition of Swedish brand Jonsson’s crushers and The range complements the company’s existing offering of Metso equipment, particularly filling the gap of large-scale premium crushing and screening requirements with tracked units in the region.

Legal & General Investment Management, one of the 20 largest shareholders in Anglo American said an approach by BHP Group is "highly opportunistic" and "unattractive". "As with many other UK-listed companies, we believe the valuation of Anglo American to be depressed and regard the proposed exchange ratio as an unattractive proposition for long-term investors," Nick Stansbury, head of climate solutions at Legal & General Investment Management (LGIM), told Reuters in an email on Thursday.

South Africa’s 30 years of democracy has changed the character of this country’s mining industry profoundly, Minerals Council South Africa emphasised in a report that highlights the industry’s significant advance since the dawning of democracy in 1994. Importantly, South Africa’s highly regarded mine employees earn among the most competitive wages in the major job sectors, with tens of thousands of employees now direct partners in mining companies through employee share ownership programmes and profit-sharing schemes.

The Democratic Republic of Congo’s government notified Apple of concerns that the company’s supply chain may be tainted by conflict minerals sourced from the central African nation. A group of international lawyers engaged on behalf of the Congolese State sent a list of questions to the US tech giant on April 22 and demanded answers within three weeks, according to a statement published on the website of lawyer Robert Amsterdam on Thursday. The statement coincided with the release by the law firm of a report accusing neighbouring Rwanda of laundering tin, tungsten and tantalum — known as 3T minerals — and gold from Congo.

An admirable degree of creativity exists within the South African mining technology and equipment manufacturing sector, giving manufacturers the necessary flexibility to weather the significant challenges over the past few years, Mining Equipment Manufacturers of South Africa CEO Lehlohonolo Molloyi has said. He was speaking as part of a panel in a webinar hosted by Creamer Media and sponsored by ABB, AECI Mining, Astron Energy and Epiroc, on April 24.

Zimbabwe’s President Emmerson Mnangagwa has reappointed Winston Chitando as the Southern African nation’s Mines Minister, a post he held before last year’s elections. Prior to his reappointment, Chitando was the local government minister.

Diversified mining major BHP on Thursday announced a proposed all-share offer that values Anglo American at £31.1-billion. The deal has the potential to transform the mining industry landscape. BHP offered Anglo shareholders £25.08 a share, including £4.86 a share for Anglo American Platinum (Amplats) shares and £3.40 a share for Kumba Iron Ore shares.

Copper needs to reach $12 000/t — a 20% jump from this week’s high — to incentivize large-scale investments in new mines, said Olivia Markham, who co-manages the BlackRock World Mining Fund. The metal’s price hit a two-year high near $10 000, but Markham said further gains are necessary to encourage miners to sign off on projects required to avoid major deficits during the energy transition.

Aim-listed mining development company Ironveld has entered into a further working capital loan facility agreement with shareholder Tracarta, in which Ironveld chairperson John Wardle has a beneficial interest. The facility agreement enables the company to draw down up to £125 000 on equivalent terms to the existing loan facilities with Tracarta and has a term of six months.

The World Diamond Council’s (WDC’s) revised System of Warranties (SoW) is set to reach its first critical deadline on September 21, when it becomes obligatory for all rough diamond sales.   “We strongly urge all companies, but especially . . . rough diamond traders, to transition to the revised SoW, if they have not done so yet, to be ready for the September 21 deadline,” WDC executive director Elodie Daguzan said on April 24.

Fast advancing copper producer Copper 360 has shipped copper concentrate from South Africa’s Northern Cape province for the first time in 21 years. South Africa’s only listed pure copper producer, which delivered record concentrate grades during plant commissioning, is performing way ahead of expectation as a producer of copper concentrate, as well as being the Northern Cape’s only producer of copper cathode.

The green hydrogen sector now has a digital platform on which users can buy and sell green hydrogen by the click of a button, it was announced on Tuesday.  Euronext-listed Lhyfe, the French group devoted to energy transition, has begun taking of orders for green hydrogen in Europe and facilitating contacts between buyers and sellers. (Also watch attached video.)