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Mining Weekly | Africa

28 March 2024

The latest mining world news and project information from Africa. providing updates on the progress of future, new and existing projects. Developments in mining legislation, policies, investments and infrastructure will be highlighted
  • Hummingbird warns of delay in achieving commercial production at Kouroussa
    Aim-listed Hummingbird Resources has informed shareholders that commercial production at its Kouroussa gold mine, in Guinea, will be delayed beyond the targeted first quarter of this year owing to reduced mining activity. In the meantime, the supporting mining contractor continues to operate, with the processing plant processing this ore, together with stockpiled material.
  • Bell posts 66% rise in full-year profit
    JSE-listed heavy machinery manufacturer Bell Equipment has posted a 66% increase in profit for the year ended December 31, 2023, to R793-million. Following unprecedented global demand for equipment in most markets, the company generated basic earnings per share (EPS) of 799c, which is a 67% increase on the prior year’s EPS of 47c.
  • Rainbow reiterates potential of South Africa, Brazil projects
    Rainbow Rare Earths is bullish about the potential of its Phalaborwa rare earths project in South Africa, as it is expected to be the highest margin rare earth elements (REEs) project in development owing to its different capital and operating cost profile compared to traditional projects, CEO George Bennet says in an unaudited results statement for the six months ended December 31. “Phalaborwa is a unique project in the rare earths space. Due to the fact that it is focused on the reprocessing of phosphogypsum stacks to recover rare earths, it has a fundamentally different cost profile to traditional mining projects, and it is therefore expected to be the highest margin rare earth project in development today,” he comments.