Weekly News Round-Up

A lot has happened in the sector this week, so we've curated a round-up of top news stories in the mining industry.

We're delighted to announce Botswana President is the 4th head of state to join the Mining Indaba Virtual agenda and will address the country's mining sector development.Continue reading.

Business opportunities in Africa free trade agreement (AfCTA) trading phase began on January 1. The AfCTA is currently the largest trading bloc in the world, comprising 54 Africa nations. Larger than the European Union in terms of geographical expansion and the number of member states. Continue reading.

AIM-listed IronRidge Resources have sharpened its focus on its core African portfolio with the sale of the May Queen gold project in Queensland, Australia. Read more from Resource Global Network.

Gold has risen about 30% over the last 12 months, and with rising prices should be perfect for Ghana to extend its lead as Africa’s biggest producer of gold. Read more.

The Johannesburg Stock Exchange index rose for the fifth day and headed for a third consecutive record close, as mining stocks benefited from hopes for US economic stimulus. Find out more.

Resource Global Network report Lucapa Diamond Company collected US$5.6 million from its first diamond sales of the year, parting with 4.676 carats recovered from the Mothae mine in Lesotho.

West Africa-focused Teranga Gold has reported total gold production of 404.460 ounces in 2020, exceeding its full-year guidance for the fifth consecutive year. Read more.

Glencore have announced it is in the final-stage negotiations over a potential sales of its majority stake in Mopani Copper Mines to Zambia’s mining investment – ZCCM-IH, according to Reuters.

Global cobalt production capacity expected to be cash positive in 2021, an industry report suggests. Roskil forecasts that cobalt’s all-in sustaining cost of production will fall by around 2% year on year from $23,085/t to $22,600t. Read more.

Debswana Mining Company, owned by De Beers and the Botswana government announced this week, it has terminated a $1.3 billion contract with Australia’s Thiess to extend the lifespan of its Jwaneng diamond mine and carry the project in-house. Read more from The Africa Report.

West Africa remains a growth area for LSE-listed Capital, continues to build its platform in the region, according to Mining Weekly.

Global coal mining market is expected to grow by 225.62 mn ton during 2020-2024 progressing at a CAGR of 1% during the forecast period, reports GlobeNewswire.

Zambia has paid 8.5 billion Kwacha ($400 million) in value-added tax refunds to mining companies last year, the head of the tax authority stated. Continue reading.

TSX-listed Teranga Gold has exceeded the top end of its full-year production guidance range, producing 404,460 oz for the year ended December 2020, reports Mining Weekly.

African Gold Group has provided an update on its Corporate Social Responsibility (CSR) projects carried out in Q4-2020 as part of its overall environmental and social management plan (ESMP). Continue reading.

If you have an interesting piece of news or analysis that you think our #mining community would benefit from reading, send it to marketing@miningindaba.com.