Page 12 - Mining Weekly News Today

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

Mondi plans to increase semichemical fluting capacity at its Kuopio mill by about 55 000 t.

Engineering News editor Terence Creamer discusses Eskom's latest State of the System update, with warnings that the country is likely to dip into Stage 8 loadshedding this winter; the actions Eskom could take to try to navigate the high-demand winter months; and whether there is a risk of a total grid collapse.

Iron-ore major Fortescue on Thursday announced the redemption of its outstanding $750-million 5.125% senior unsecured notes due May 2024. The redemption will be completed on June 1, 2023, with the notes to be redeemed using cash on hand, further strengthening Fortescue’s capital structure.

Platinum group metals (PGMs) miner Impala Platinum (Implats) has concluded agreements to acquire a further 190 000 shares in takeover target Royal Bafokeng Platinum (RBPlat). This will increase Implats' stake in RBPlat to 45.82%.

Trading in the shares of Pembridge Resources, a London-listed company with a strategic investment in the Minto copper and gold mine in Canada, has been suspended. The company, whose share price took a beating this week after operations ceased at the Minto mine, said in a statement on Thursday that the Financial Conduct Authority had temporarily suspended its securities. Pembridge’s stock last traded at 20p a share, down from 1.45p on Monday.

Platinum producer Impala Platinum (Implats) has concluded agreements to acquire an additional 215 000 shares of Royal Bafokeng Platinum (RBPlat), constituting about 0.07% of the RBPlat shares in issue.   This takes Implats’ stake in RBPlat to about 45.76%. 

The clean energy transition has unleashed unprecedented demand for key minerals and metals. Lithium, nickel, cobalt, manganese and graphite are crucial to battery performance, longevity and energy density. Rare-earth elements are essential for permanent magnets used in wind turbines and electric vehicle (EV) motors, while copper underpins electricity-related technologies. These so-called critical minerals and metals are considered the building blocks for the green and digital economy, without wh...

The board of Russian diamond mining company Alrosa will consider the appointment of Pavel Marinychev  for the position of CEO, following the planned resignation of Sergey Ivanov. Marinychev oversees one of Alrosa’s main production units, Almazy Anabara.

Vertically integrated speciality alloys producer Afarak Group has signed an agreement to combine with LL Resources (LLR) for a consideration of €59.3-million. Austria-headquartered LLR is a ferro-alloy, steel products, scrap, coal, bitumen and fertiliser mining and trading company. Afarak will issue new shares to the shareholders of LLR to the value of €59.3-million, which amounts to about 140-million new Afarak shares. Following the deal, the former shareholders of LLR will hold about...