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Mining Weekly | Africa

19 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
  • Top treasury official stresses US ambitions for Africa’s metals
    US Deputy Treasury Secretary Wally Adeyemo used a five-day trip to South Africa to advertise his country’s ambitions of securing supplies of the metals needed for the global energy transition – materials that abound in Africa. Adeyemo, in a speech to US businesses active in the country, stressed that South Africa needs to put in place the right incentives to boost the mining industry. He also visited a mine owned by Sibanye-Stillwater, the South African precious and battery-metals miner that’s invested in a palladium operation in the US state of Montana.
  • Implats’ Zimbabwe unit plans voluntary job cuts to contain costs
    Impala Platinum Holdings’ Zimbabwean unit is offering staff voluntary redundancy packages to cut costs because of anemic metal prices. Weak platinum group metal prices are projected to last for the next 12 to 18 months, Zimplats Holdings CEO Alex Mhembere said in a staff circular dated March 18 that was confirmed by the company. The producer is beginning “a voluntary retrenchment exercise for all employees wishing to be considered,” which may “mitigate the need for a compulsory retrenchment,” the circular said.
  • Dirty gold can still slip into London market, rights groups say
    The London Bullion Market Association (LBMA), which sets standards for the world’s most established gold market, needs to do more to exclude gold linked to human rights abuses or criminality from its supply chain, rights groups said on Monday. Refineries vetted by the LBMA still source gold from “questionable suppliers and mines” and are not tackling “serious human rights violations and environmental degradation," a collection of eight organisations that analyse mining, led by Swissaid, said in a letter to the LBMA, seen by Reuters.