Mining Weekly News

Mining Weekly | Home Mining Weekly covers real-time news on mining projects across a range of minerals including gold, platinum, diamonds, copper and ferrous metals.

  • Amplats on track to deliver guidance for 2023 but cost cutting ahead
    by Darren Parker on 8 December 2023 at 2:40 pm

    Platinum group metals (PGMs) producer Anglo American Platinum (Amplats) has reported that its metal-in-concentrate, refined production and costs are all expected to be within guidance for 2023, with capital expenditure (capex) about R1.5-billion below guidance. However, over the next three years, various cost-cutting initiatives will be implemented to preserve the company’s growth prospects.

  • Botswana Diamonds to undertake next stage exploration near its KX36 project
    by Tasneem Bulbulia on 8 December 2023 at 2:11 pm

    Diamond company Botswana Diamonds will embark on follow-up ground geophysics on four anomalies that were identified contiguous with the company’s KX36 project in the Kalahari, in Botswana. They were identified by the heavy mineral train flowing from KX36 where it is thought that there may be undiscovered buried kimberlites in the vicinity of KX36 as kimberlites generally occur in clusters and not in isolation.

  • Union leaders go underground to bring chronically ill back to surface from mine sit-in
    by Martin Creamer on 8 December 2023 at 2:03 pm

    Union leaders have gone underground to fetch chronically ill mineworkers at the Bakubung platinum mine in Rustenburg, where an underground sit-in is being staged, and to bring them back to surface. Bakubung Platinum Mine is owned by Wesizwe Platinum, a company listed on the Johannesburg Stock Exchange.

  • Anglo reconfigures some assets as it targets lower costs, capex
    by Tasneem Bulbulia on 8 December 2023 at 1:50 pm

    Global diversified miner Anglo American is focusing on improving its cost performance and cash generation by reconfiguring several assets to adjust the production profile to near-term constraints and market conditions, CE Duncan Wanblad outlined during an investor update call on December 8. The group is targeting cost savings of about $500-million by mid-2024, with Wanblad saying this programme is well advanced.

  • Petra says prices have likely bottomed; secures increase in credit facility
    by Creamer Media Reporter on 8 December 2023 at 1:12 pm

    Diamond mining group Petra Diamonds has sold 462 794 ct of diamonds for $58.7-million in its third tender for the 2024 financial year. This is higher than the 444 029 ct sold for $41.5-million in the second tender of the current financial year and the 303 300 ct sold for $41.5-million in the third tender of the 2023 financial year.

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