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Mining weekly

16 August 2022

  • Tirupati progresses three workstreams at Madagascar projects
    Following various operational difficulties in recent quarters, specialist graphite and graphene company Tirupati Graphite expects its Sahamamy and Vatomina operations, in Madagascar, to operate at at least 80% of installed capacity of 30 000 t/y from 2023. This company reports that it has made important strides in three work streams; firstly, on the installation and commissioning of the Vatomina preconcentrate plant; secondly, on the progress to-date with regards to the rebuilding of the road infrastructure to streamline operations for the installed 12 000 t/y capacity; and thirdly, a progress update on the construction phase of the upcoming 18 000 t/y of additional capacity at Sahamamy.
  • Ivanhoe swings to second-quarter profit
    TSX-listed diversified miner Ivanhoe Mines recorded a profit of $5-million for the second quarter of the year, up from a loss of $108.6-million for the same period of 2021. The profit in the period includes Ivanhoe Mines’ share of profit and finance income from the Democratic Republic of Congo-based Kamoa-Kakula joint venture of $84.6-million, which set a new quarterly production record during the period with 87 314 t of copper in concentrate produced.
  • Kogi Iron appoints new chairperson, nonexec director
    ASX-listed iron-ore and steel development company Kogi Iron has appointed John Campbell Smyth as nonexecutive director, effective August 15, after incumbent Sean Gregory tendered his resignation on the same date, with immediate effect. The board has also elected Peter Huljich as nonexecutive chairperson.
  • Feeding the world’s coal addiction is more profitable than ever
    The globe is in the grips of a climate crisis as temperatures soar and rivers run dry, and yet it’s never been a better time to make money by digging up coal. The energy-market shockwaves from Russia’s invasion of Ukraine mean the world is only getting more dependent on the most-polluting fuel. And as demand expands and prices surge to all-time highs, that means blockbuster profits for the biggest coal producers.
  • Arc begins maiden exploration drilling programme in Botswana
    Aim-listed Arc Minerals has announced the start of its maiden exploration drilling programme at its Virgo project, in Botswana. This maiden drill programme is designed to test geochemical anomalies identified in the Virgo licences located within the highly prospective Central Structural Corridor of the Kalahari Copper Belt (KCB).

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