Miningmx

PETRA Diamonds is to close Finsch mine in South Africa’s Northern Cape after business rescue practitioners found there was no way to save the business. As part of a five-point business rescue plan, approved by the mine’s principal creditors, it was decided there was no “viable outcome” to restart mining. “The creditors have approved the Plan to sell off the assets of Finsch in order to recover the maximum amount of value possible for Finsch’s creditors,” the company said.

Photographer: Waldo Swiegers/Bloomberg via Getty Images THUNGELA Resources expects to report sharply higher earnings for the six months to 30 June 2026, supported by a non-cash profit on the sale of the Kleinkopje mining right despite continued volatility in global coal markets. The coal producer said earnings per share (EPS) are expected to be between R10.75 and R11.10, compared with R1.93 in the corresponding period last year.

Neal Froneman: 'Retired Rainmaker' NEAL Froneman led the company he founded, Sibanye-Stillwater, for 13 years before abruptly announcing he would step down last year, aged 65. Those years were a punchy, all-action time of dealmaking all dealt with in Froneman’s swashbuckling, no-nonsense style. He once quipped he was looking forward to travelling in retirement, having seen the inside of many of the world’s best hotels but rarely the cities in which they were built. Vain hope.

Molten copper is cast into copper anodes. Photographer: Graham Hughes/Bloomberg via Getty Images NEAL Froneman, the newly appointed chair of Copper 360, said the company was in need of “a good dose of realism” as well as “realistic plans”. The former Sibanye-Stillwater CEO was unveiled as non-executive chair of the copper junior miner’s board on Thursday. He replaces Rupert Smith, a long-standing director and shareholder, who has opted to downscale his responsibilities.

Donald Trump, US president US PRESIDENT Donald Trump will meet mining executives on Friday as his administration steps up efforts to secure critical mineral supplies from the US and allied countries, Reuters reports. The move forms part of a broader strategy to strengthen national security and reduce reliance on Chinese supply chains. The White House says it needs critical minerals to replenish weapons stockpiles depleted during the Iran conflict.

Molten copper. Photographer: Oliver Bunic/Bloomberg via Getty Images COPPER was on course for a record close after rising on signs of tightening global supply, Bloomberg reports. It gained as much as 0.9% on the London Metal Exchange (LME), moving above its previous closing high set in mid-May. Strong demand linked to data centres and power grids has supported prices, but supply constraints have been equally important.

Picture: Macro photography. GUINEA has selected Glencore Plc as the offtaker for bauxite produced by state-owned Nimba Mining, Bloomberg reports. The appointment followed an international tender, Mines and Geology Minister Bouna Sylla said. Talks to finalise the contract are continuing. Sylla said the government aims to build Nimba Mining into a national mining champion. Glencore declined to comment.

Neal Froneman, former CEO of Sibanye-Stillwater FORMER Sibanye-Stillwater CEO Neal Froneman has been appointed chair of Copper 360, bringing one of South Africa’s best-known mining executives into the junior copper producer as it seeks to stabilise operations and return to profitability. Froneman’s appointment as independent non-executive director and chair, reported by News24 today, is subject to standard screening procedures.

Copper concentrate. Photographer: Dado Galdieri/Bloomberg via Getty Images THE Democratic Republic of Congo has banned exports of copper and cobalt concentrate, marking a major escalation of its push to force domestic processing, said Reuters in an exclusive report on Thursday. The country’s aim is to capture more value from its mineral wealth, Reuters added citing a government order it had seen.

Chris Showalter, CEO Lifezone Metals. Photographer: Victor J. Blue/Bloomberg via Getty Images A CONSORTIUM backed by the US government has emerged as the preferred candidate to invest in a major nickel project in Tanzania, said Bloomberg News. Lifezone Metals, which has been searching for a partner to develop its Kabanga nickel deposit into a large underground mine, has selected Orion CMC from among several bidders, said the newswire citing people familiar with the deal.