Sibanye-Stillwater flags $2.5bn write-down on metals prices collapse

Miner expects to report a 91% drop in annual profit for 2023 due to a sharp decline in metals prices and operational problems.

Cecilia Jamasmie | February 21, 2024 | 5:52 am

First Quantum inks $500 million copper deal with Jiangxi amid Panama mine struggles

Jiangxi Copper, the Canadian miner’s top shareholder, will receive 50,000 tonnes of copper anode per year from mines in Zambia.

Cecilia Jamasmie | February 21, 2024 | 3:47 am

CHART: China’s Belt and Road mining investment hits record

China’s overseas investment in metals and mining as part of its Belt and Road Initiative surged by 158% last year, hitting $19.4 billion with energy transition metals the main focus.

Frik Els | February 20, 2024 | 9:57 am

Kumba Iron Ore to cut 490 jobs as rail crisis hits output, shares fall

Restructuring to impact 10% of Kumba's workforce.

Reuters | February 20, 2024 | 8:18 am

Gecamines plans overhaul of mining JVs in world’s top cobalt supplier

The Democratic Republic of Congo's state miner is broadening a push to extract more from its copper and cobalt joint ventures

Reuters | February 20, 2024 | 8:11 am

First Quantum re-shuffles management at Zambian operation

The miner has lost more than half its market value since public protests against the Cobre Panama project started in October.

Reuters | February 20, 2024 | 7:39 am

KoBold Metals expands Zambia footprint with Midnight Sun deal

KoBold aims to earn a 75% interest in the Dumbwa portion of Solwezi, after forming a JV with the Canadian miner.

Cecilia Jamasmie | February 20, 2024 | 5:43 am

Osino-Dundee deal falls through after third-party superior bid

The new bid values Osino at $213 million and includes a $10m loan to fast-track the development of the Twin Hills gold project in Namibia.

Cecilia Jamasmie | February 20, 2024 | 3:25 am

US moves to restore stockpiling ‘panic button’ in EV metals fight with China

A 60% slump in cobalt prices over the last two years has exposed the fragility in Washington’s efforts to bolster supplies of critical minerals.

Bloomberg News | February 19, 2024 | 4:03 pm

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