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Mining Weekly | Africa

18 June 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
  • 81% of reserve managers to increase gold holdings in next 12 months - World Gold Council
    More than eight in ten, or 81%, of respondents to the 2024 Central Banks Gold Reserves survey said they expect reserve managers to continue to increase their gold holdings in the next 12 months. This data, released by the World Gold Council, reflects the highest confidence level recorded since the survey began in 2019. Despite high gold prices and two successive years of record central bank purchasing, nearly 30% of central banks plan to add to their own gold reserves within the next year. This trend highlights a persistent favourable view of gold among reserve managers, who see the precious metals as a hedge against political and economic uncertainty.
  • Southern Palladium remains committed to advancing Bengwenyama project
    The completed prefeasibility study (PFS) drilling campaign for the Bengwenyama platinum group metal (PGM) project, on the eastern limb of South Africa’s distinctively endowed Bushveld Complex, is emphasising the robustness of the upper group two (UG2) reef, project developer Southern Palladium reported on Tuesday. An updated mineral resource estimate (MRE) will now follow in the third quarter of this year to facilitate the commencement of mine planning for the PFS.
  • Diederichs becomes Predictive COO as firm bolsters management to support Guinea project progress
    ASX-listed Predictive Discovery has made several key appointments to further strengthen its board and management team, to support progress with the 5.38-million-ounce Bankan gold project in Guinea. Alberto Lavandeira joins as non-executive director, bringing more than 45 years of development and operating experience across gold, copper and industrial minerals in Africa and Europe.