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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
Despite the challenges presented by the Covid-19 pandemic, Pan African Resources on Friday reported higher gold production, lower debt, good safety, environmental progress, project advances and intensified dividend intent. In an operational update for the year ended June 30, the London-, Johannesburg and now also New York-listed company reported that it was heading towards a position of being debt-free within the next 12 months.
Given limited domestic copper production, South Africa should prioritise the recycling of copper scrap to ensure there remains sufficient stock as the economy changes to be more energy efficient and less reliant on fossil fuels, Copper Development Association Africa (CDAA) executive chairperson Evert Swanepoel has said. He was a panellist in a DRC Mining Week webinar, focused on the use of copper in renewable energy technologies and electric vehicles (EVs), held on July 9.
Gold has received more investment than all other major Chinese asset classes in the first half of this year, says the World Gold Council (WGC).
In a WGC blog post, research manager Ray Jia says gold demand in China, particularly investment demand, has benefited from rising concerns about the economy, as well as the lower opportunity cost amid the Covid-19 outbreak and the central bank’s response to it.