Weekly News Round-Up

A round-up of some of the top industry stories from across Africa in the last week…

News just in the World Coal Association (WCA) has appointed South Africa’s July Ndlovu as chairperson, who heads Anglo American’s coal business in South Africa. At a time where the role of responsible coal is front and centre, there’s an opportunity and responsibility for the coal industry to transform and deliver a sustainable future. Read more.

Record-high gold prices are in sight according to Bloomberg. The gold prices are set to take out their long-standing record as mounting concerns about the global economy fuel gains above $1,800 an ounce. Demands have surged with inflows into gold-backed exchange-traded funds this year already topping full-year total and forecasted prices could hit an all-time high.

The first group of foreign mineworkers are scheduled to cross back into South Africa on Tuesday, reported by Mining Weekly. This is part of 12,500 gold and platinum workers returning from Mozambique, Lesotho and Eswatini.

Namibia recommences new diamond licence applications, following the review requirements and procedures by the Ministry of Mines and Energy. Read more.

ASX-listed Kogi Iron announced that the company will adopt a staged funding programme to ensure the continued progress of its advanced Agbaja Cast Steel Project in Nigeria. Read more from African Mining.

2019 Investment Battlefield winner, Prospect Resources has picked Renaissance Securities Capital as its financial advisor for possible shares sale in Zimbabwe’s Arcadia Lithium mine to Russian energy firm Uranium One. Read more.

World’s largest listed mining companies added US$249.5 billion in the market over the three months following collective losses of US$282 billion due to COVI-19. Driven by several commodities including; precious metals – gold and silver, iron ore and a late resurgence in the copper market reported Resource Global Network.

As COVID-19 global lockdown measures ease and the Chinese demand recovers, metals prices have seen an uptick in June, thus the market value of mining rose for the third consecutive month in June, logging median growth of 10.7% compared to previous month, according to S&P Global Market Intelligence Analysis.

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