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Mining Weekly | Africa

08 December 2023

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
  • NextSource Materials appoints automotive veteran to its board
    Battery metals development company NextSource Materials has appointed automotive industry veteran Martina Buchhauser to its board of directors. The company, which is developing the Molo graphite mine, in Madagascar, says she has "a profound knowledge" of the automotive industry and its shift towards sustainable and low-carbon technologies. 
  • Anglo American preps sweeping cost cuts as price rout bites – sources
    Anglo American is preparing to freeze spending on growth and widen job cuts in South Africa, going far beyond its initial savings target and paving the way to mothballing some higher-cost platinum mines, sources familiar with the matter said. Anglo's sweeping spending cuts could be announced as soon as Friday, when the miner updates investors on its three-year outlook, five sources said.
  • Geopolitical tensions, continued central bank buying likely to support gold in 2024
    Gold had a strong 2023, defying expectations amid a high interest rate environment and outperforming commodities, bonds and most stock markets, the World Gold Council (WGC) says as it outlines possible scenarios for the gold market in 2024. In its ‘2024 Outlook on Gold’ report, published on December 7, the council states that market consensus is for a “soft landing” in the US, which should positively affect the global economy.