News
Tharisa meets FY2026 guidance, Karo Platinum fully funded as net debt swings to $51m
Tharisa has reported full-year production in line with guidance for both platinum group metals (PGMs) and chrome concentrates, while confirming its Karo Platinum project in Zimbabwe is now fully funded following a $300 million bond issue.
Today
Israel’s diamond sector poised for revival following tax reforms and De Beers comeback
De Beers, one of the world's major diamond market players, has announced the resumption of its operations in Israel after a nine-year absence, which became the latest sign of revival of the diamond industry in the country.
Today
Kefi Gold and Copper restarts Tulu Kapi development after safety review
Kefi Gold and Copper has resumed development at its Tulu Kapi gold project in Ethiopia following a suspension that began on September 7 after a serious safety incident three days earlier.
Today
Nornickel implements smart melt monitoring system
Norilsk Nickel has installed a smart melt monitoring system at its metallurgical plant in Norilsk in collaboration with Reksoft. The system uses computer vision to assist the converter operator in identifying phases during the tapping process.
Today
ALROSA to help amplify Arctic agenda at UN
In preparation for the 31st UN Climate Change Conference (COP31), ALROSA experts and other stakeholders from Russia discussed a unified approach to strengthening the country’s position and the Arctic agenda at UN climate conferences.
Today
‘Unprecedented’ rainfall dampens Tharisa first quarter chrome and PGM mine output
17 january 2023
(miningmx.com) - Unprecedented rainfall hampered production from Tharisa’s platinum group metal (PGM) and chrome mine in the first quarter, the Johannesburg-listed group said in a recent update. Tharisa mines from an open pit in South Africa’s North West province where rainfall in the first quarter was 27% higher compared to previous years. Phoevos Pouroulis, CEO of Tharisa said open pit flexibility had consequently been “compromised”. The impact of rain is reflected in a 17.7% decline in quarter-on-quarter reef mined. However, Tharisa supplemented run-of-mine production with stockpiled material. As a result, first quarter production of PGMs and chrome concentrate came in 5.7% and eight percent lower at 42,7000 ounces and 383,000 tons of concentrate respectively.
Here’s One Possible Answer to the Puzzle of the Mystery Gold Buyer
17 january 2023
Gold prices are on a tear lately, having rallied by over $200 per ounce since early November. The rise has puzzled analysts, who note that there aren’t any obvious macro narratives to drive gold’s move. Have inflation fears picked up over the last two months? No, and if anything it’s the opposite case. Movement in gold is often associated with geopolitics. Yet nothing particularly novel has happened on that front of late.
Antwerp duo goes to war against subjective measurements in the diamond sector: “We want a computer to judge instead of a person”
16 january 2023
(bloovi.be) - It is a long-gone cliché that the diamond sector is a closed bastion where only family businesses manage to survive. Although innovation is sometimes difficult due to mutual competition, it is there. You can see this in the participants in the innovation processes set up by the City of Antwerp. Selected projects receive guidance from innovation agency Verhaert for a year to get their idea on track. An opportunity that Alexander Appels and Jan De Henau of Chroma Diamonds grabbed with both hands. “Our strong international reputation can only help us achieve our goal: to become the reference for color diamonds.”
Pronounced platinum production plummet predicted by independent consultant
13 january 2023
(miningweekly.com) - Global mine supply of platinum will fall by 500 000 oz to a million ounces as South Africa’s power shortage lowers production from 2023 to 2027, independent precious metals consultant Dr David Davis calculates in a summary report on platinum group metals (PGMs) production and Eskom. Davis, who has been associated with the South African mining industry and mining investment industry for the past 45 years, also expects Russian PGMs supply to decline by 5% to 10%. Compiled for Auctus Metal Portfolios of Singapore, Davis’ review points to the danger of lower PGM supply presents to global decarbonisation efforts and prices.
Nickel market faces new shock as 'big shot' boosts metal output
12 january 2023
(miningweekly.com) - The billionaire at the center of last year’s nickel short squeeze is planning a major shift in his production mix, in a move that could reshape global supply dynamics and inject fresh volatility into the battered nickel market. Xiang Guangda’s Tsingshan Holding Group is seeking to profit from an unusually large premium in the price of refined nickel metal – the type that is deliverable on exchanges in London and Shanghai – over the intermediate forms that Tsingshan supplies for battery manufacturing, according to people familiar with the matter.
