Latest news with #mineralresources
The Herald
16-07-2025
- Politics
- The Herald
Gwede Mantashe appointed as acting police minister
Minister of mineral and petroleum resources Gwede Mantashe has been appointed as acting minister of police with immediate effect, the presidency announced. It said Mantashe will serve in this capacity until Prof Firoz Cachalia, who will retire from his position at the University of the Witwatersrand at the end of July, assumes the post in August. Presidency spokesperson Vincent Magwenya said Mantashe will retain his responsibilities as minister of mineral and petroleum resources. Addressing the nation on Sunday evening, President Cyril Ramaphosa announced he had placed minister of police Senzo Mchunu on special leave, replacing him with Cachalia. Ramaphosa also announced that he had established a judicial commission of inquiry chaired by acting deputy chief justice Mbuyiseli Madlanga to investigate allegations relating to the infiltration of law enforcement, intelligence and associated institutions within the criminal justice system by criminal syndicates. This is after explosive revelations by KwaZulu-Natal police commissioner Nhlanhla Mkhwanazi who alleged that deputy national commissioner Shadrack Sibiya and Mchunu had obstructed justice, stalled investigations into political killings and organised crime, and shielded politically connected suspects. He alleged that on March 26 a total of 121 case dockets under investigation were taken away from the political killings task team as directed by Sibiya acting on the instruction of the Mchunu, to disband the task team. TimesLIVE
News.com.au
09-07-2025
- Business
- News.com.au
DY6 Metals carves itself a slice of Cameroon's growing rutile pie
DY6's new Central rutile project shows similarities to mineral sands darlings SVM and PUA's African projects The company has picked up natural rutile nuggets up to 5cm in size Assays from reconnaissance sampling underway DY6 Metals (ASX:DY6) is eyeing a slice of the rare rutile pie thanks to its new project, the Central rutile project in Cameroon. The project has in-situ mineralisation (shallow and easily mined ore) comparable to Sovereign Metals' (ASX:SVM) Kasiya project in Malawi, home to the world's largest rutile resource at 1.8Bt at 1% rutile. It's also contiguous to Peak Minerals' (ASX:PUA) Minta project which recently reported widespread and high value mineral assemblage of up 93% heavy minerals. That includes the dominant rutile (up to 69.8%), monazite (up to 35.6%) and zircon (up to 21.5%). Rutile is the primary source of titanium, which is used in the aerospace, automotive, medical and industrial sectors. A dearth of discoveries in recent years makes the company's new project even more strategically vital in the supply chain. Not to mention, the project sits in part of a region in Central Cameroon which is rapidly emerging as a globally significant rutile province. DY6's technical consultant Cliff Fitzhenry, who has extensive experience with Rio Tinto and Sovereign Metals in the rutile space says DY6 is in a unique position to leverage the project and get it into production as soon as possible. 'The type of mineralisation we are targeting at Central is residual, in situ natural rutile analogous to Sovereign Metals' tier-1 Kasiya project in Malawi,' he said. 'Our Central rutile project is contiguous to Peak Minerals' Minta project and we both are part of this emerging rutile province.' Geologically speaking, Central Cameroon has a number of similarities to the Lilongwe Plain of Central Malawi where the Kasiya deposit is found. Both regions have a high metamorphic grade bedrock, which is interpreted to be the source of the rutile, and both areas have a deep in situ weathering profile. 'We are confident that our Central rutile project has all the right indications to be highly prospective for in situ residual natural rutile deposits similar to Kasiya,' Fitzhenry said. 'There are very few of these types of deposits globally, so we are in a unique position to capitalise on an emerging supply gap for natural rutile by quickly moving this project forward and unlocking full value.' Maiden drilling later this year This week, the company added six new licence applications which make up the Weaver project to the east of the five permits that make up the original Central rutile project, lifting its landholding from 2124km2 to 4974km2. With the Douala Basin project included, where DY6 identified a host of heavy mineral occurrences in reconnaissance auger sampling, it boasts around 7500km2 in the exciting Cameroonian jurisdiction. Plus, late last month the company announced that it had identified visible natural rutile, including large residual nuggets at Central, a size even the seasoned Fitzhenry said he'd never seen before. 'These nuggets were up to 5cm in size and appear to be a weathering product from late-stage pegmatites,' Fitzhenry said. 'Following successful completion of an initial reconnaissance program at the Central Project, we will now be moving the project to the next stage where we look to kick off a systematic soil sampling campaign this week. 'This will help us to quickly cover the project package area and will help us delineate higher grade zones which will be the focus of our maiden drilling campaign later this year.' Meanwhile, DY6's reconnaissance program at the Douala Basin HMS project has wrapped up, with results expected in the coming weeks. 'We look forward to reporting our reconnaissance sampling assay results within the September quarter and to then move the projects forward toward maiden drilling campaigns later this year,' Fitzhenry said. By way of comparison, Sovereign is worth ~$450m and counts Rio Tinto as its largest shareholder at close to 20%. With Kasiya also regarded as one of the world's largest natural graphite deposits, that puts it on the radar for a future takeover at a significant premium to that valuation. Peak shares have lifted 430% in 2025 alone, taking its valuation to $134m on the back of results from Minta. DY6 is right next door at a market cap, even after a 475% YTD gain of 475%, of just $17m. That means DY6 is highly leveraged to a discover similar in nature to next door neighbour Peak's.
News.com.au
04-07-2025
- Business
- News.com.au
Resources Top 5: Western Mines at starting blocks for extensive Mulga Tank exploration
Phase 4 drilling at Mulga Tank is aimed at infilling and extending the mineral resource estimate DY6 has identified visible natural rutile, including large residual nuggets, at Central Rutile project in Cameroon Six new gold anomalies have been identified at the Burbanks East project in WA's Goldfields Your standout small cap resources stocks for Friday, July 4, 2025 Western Mines Group (ASX:WMG) At the starting blocks for the resumption of exploration at Mulga Tank nickel-cobalt-copper-PGE project in WA's Eastern Goldfields is Western Mines Group, which increased 40% to 28c. A team has mobilised to the site on the Minigwal Greenstone Belt to prepare for a phase 4 RC drilling program aimed at infilling and extending the mineral resource estimate within the main body of the Mulga Tank Complex. The 1.968Bt MRE for Mulga Tank contains 5.3Mt of nickel, 257,000t of cobalt, 161,000t of copper and 1.1Mt of platinum+palladium. WMN also plans high-impact diamond drilling targeting the western margin of the complex following a prospectivity review of the basal contact. The extensive exploration program in the second half of 2025, funded by a recent $1.287m capital raise and $440,000 in WA Exploration Incentive Scheme (EIS) grants, will include a Down Hole ElectroMagnetic (DHEM) survey and follow-up diamond drilling around MTRC046 which previously returned shallow high-grade intersections. Two diamond holes targeting komatiite channels within tenement E39/2134 will be drilled with the aid of an EIS grant and a further EIS-funded deep diamond hole will test revised interpretation and a basal MobileMT anomaly in the centre of the complex. A DHEM survey crew is scheduled to mobilise to site in the coming weeks to survey a number of phase 3 RC holes including MTRC046 5m that returned 1.92% Ni and 0.21% Cu from 283m, and MTRC055 with 4m at 1.16% Ni and 0.13% Cu from 182m, including 1m at 2.46% Ni and 0.43% Cu from 183m. Ongoing exploration modelling, targeting work and results from the DHEM surveys will likely add further drill holes as the programs progress. 'The team is looking forward to getting back on site to commence further drilling at the Mulga Tank Project,' WMG MD Dr Caedmon Marriott said. 'It has been just under nine months since we completed the phase 3 RC program and the company has tried to carefully manage capital through the current trough in nickel prices. 'We've planned a combination of further RC and diamond drilling for the third quarter of 2025. 'With a significant initial mineral resource defined, the company can now 'swing the bat' a bit with further diamond holes testing for basal massive sulphide accumulations in what we believe is a hybrid Type 1-2 system. DY6 Metals (ASX:DY6) A strong performance from DY6 Metals, which moved 35.6% higher to 21c and has more than doubled this week, prompted a price and volume query from the ASX with the company now in a trading halt pending a response. On June 30, DY6 announced that it had identified visible natural rutile, including large residual nuggets, at the Central Rutile project within the Bounde licence in Cameroon. The rutile was observed in alluvial and eluvial sources in a new area during a reconnaissance sampling program with the nuggets ranging in size from 2cm to more than 4cm. Heavy minerals and residual rutile mineralisation were encountered over a 100km2 area. The reconnaissance program consisted of some auger drilling and the collection of channel, surface grab and stream sediment samples. Samples are being prepped for laboratory analysis in Cape Town, South Africa, with results expected in the September quarter. The identification of rutile across the entire tenement package is highly encouraging for DY6 as it confirms that this region is an emerging, globally significant rutile province. 'The reconnaissance program has been a great success, having identified visual HM and rutile mineralisation across each licence,' technical consultant Cliff Fitzhenry said. 'What we have uncovered at the Bounde licence is particularly exciting. I have never seen rutile nuggets of this size before.' The target mineralisation type at Central Rutile is in-situ, residual, saprolite-hosted natural rutile analogous to Sovereign Metals (ASX:SVM) Tier-1 Kasiya deposit in Malawi – the world's largest primary rutile deposit at 1.8Bt at 1.0% rutile. The project borders Peak Minerals (ASX:PUA) Minta rutile project where initial sampling revealed valuable heavy minerals up to 93% of total heavy minerals, with the dominant VHMs being rutile (up to 69.8%). Exploration is moving to the next phase with a systematic regional soil sampling program seeking to identify areas of higher-grade residual rutile. Future Battery Minerals (ASX:FBM) Hitting a new 12-month high of 3.5c, a jump of 75% on the previous close, was Future Battery Minerals after an extensive review of historical exploration drilling and surface sampling data at the Burbanks East project in WA's Goldfields identified six new gold anomalies. Investigation into shallow aircore and rotary blast drilling conducted by companies such as Croesus Mining, Monarch Resource, Mt Kersey Mining and Cazaly Resources, highlighted a number of gold intercepts within regolith including: 8m at 3.37g/t gold from 32m; 6m at 1.84g/t Au from 44m; and 10m at 0.9g/t Au from 36m, including 2m at 3.1g/t Au. While most of the drilling is shallow and wide spaced, many of the anomalous intercepts are poorly understood or not closed out and remain open to future testing. FBM managing director and CEO Nick Rathjen said Burbanks East represented a compelling exploration opportunity complementary to its existing gold focused exploration strategy at Miriam. 'We see Burbanks East adding further gold upside to the Coolgardie project and are currently undertaking a litho-structural review targeting prospective bedrock structures and intrusions to generate drill-ready targets at the project.' Cavalier Resources (ASX:CVR) The appointment of Colin Bald as general manager of operations for the Crawford Gold Project near Leonora in WA has seen Cavalier Resources garner some investor support with shares at 23.5c, a 17.5% lift on the previous close. Bald brings more than 30 years of experience in the start-up, operation and closure of open pit projects worldwide, including experience in gold in WA in quarry manager and mine superintendent roles. He will contract to CVR through his company, Quarry Management Services WA, and will transition from Perth-based work to the Crawford site as the start-up of stage 1 nears. The company recently revised a PFS, incorporating higher gold prices and updating the mining and heap leach capital cost estimates, generating the following outputs: Stage 1 project life 18 months; Capital payback 9 months; Gross revenue A$103.6m; Production of 23,467 recovered ounces, Lowest quartile C1 AISC of A$1,574/oz, C3 AISC of A$1,793; NPV8 of A$51.7m; and IRR of 580%. Peak Minerals (ASX:PUA) After raising $3.5 million through a strategic placement to a European-based investor at 3.5c per share Peak Minerals reached 5.4c, a new high of more than six years and an increase of 25.6% on the previous close. 'This $3.5 million placement represents a strong endorsement of the scale and potential of the Minta rutile project and provides the funding necessary to accelerate exploration and development activities on the ground in Cameroon,' Peak Minerals CEO Casper Adson said: "Importantly, the placement was completed with no discount to the last market closing price, which happened to be at a multi-year high, and will be subject to a voluntary escrow of 12 months from the date of issue, reflecting strong confidence in the Minta rutile project. 'The support from a strategic European-based investor highlights the increasing international interest in Peak Minerals and underscores the significance of the high-value rutile, monazite and zircon discovery at Minta.'
Zawya
03-07-2025
- Business
- Zawya
How South Africa can play crucial role in African mining?
Despite the current state of mining and mining services sectors in South Africa, the country remains at the heart of renewed global interest. According to Statistics South Africa, mining production in South Africa declined by 7.7% year on year in April 2025, with the decline for March being adjusted to 2.5%. Utilising its legacy But South Africa has all the elements for success, not only because of South Africa's rich mineral resources but also the proximity to the dynamic growth unfolding across the African continent. Should South Africa be able to seize this opportunity, the country can use its legacy to play an important role in the next mining boom, not watch it pass by. Mining remains a significant sector for South Africa. In 2024, it contributed 6% of the total gross domestic product (GDP). Mining directly employs over 450,000 people, and in 2024 generated export earnings of over R800bn. South Africa still holds a significant portion of global platinum and gold reserves and remains a key supplier of manganese and vanadium, both critical components for battery production. But this is only part of a much bigger picture. To service this industry, South Africa is also home to some of the world's best and most experienced mining services companies. From technical, logistical, operational, and support sectors, the country is packed with expertise that other mining economies need. Across Africa, the mining market size was valued at over $500bn in 2024 and is projected to nearly double within the next decade. The continent holds over 30% of the world's known mineral reserves, including 40% of global gold, 90% of platinum-group metals, and vast quantities of copper, cobalt, lithium, and rare earths. The DRC alone exported almost $20bn in copper and cobalt in 2023. Zambia is rapidly positioning itself as a global copper powerhouse, with major investments and infrastructure projects driving a push to triple annual production to three million tonnes by 2031, creating significant opportunities for mining services and supply chain partners. Meanwhile, new frontiers like Angola, Tanzania, Guinea, and Namibia are unlocking deposits at pace and attracting global capital along with them. SA's response This comes with a significant caveat: most of the equipment, services, engineering skills, and financing for these projects still come from outside the continent. That's an opportunity begging for South Africa's response. South Africa's depth of expertise – ranging from mine design and planning, drilling and blasting, casting, smelting and mineral processing, equipment maintenance, and environmental management – is ideally placed to serve these growing markets. But South Africa must expand its thinking beyond national borders. South Africa should not just be a mining country; it should be Africa's mining services powerhouse. This is especially urgent given the recalibration of global trade. As geopolitical tensions cast a shadow over once-stable markets — from North and South America to Asia — multinationals are rethinking their supply chains and looking for trusted footholds. This is also a significant opportunity for South Africa. As mining activity across the continent accelerates and global trade recalibrates, South African companies—many of which have decades of experience operating in diverse African environments—are uniquely positioned to take the lead. By scaling their footprint across the continent and aligning with regional development goals, these companies can unlock new markets, drive export growth, and position South Africa as the hub of Africa's next mining boom. Policy meeting ambition But to fully take advantage of this opportunity, government policy must match the economy's ambition. Governments can play a catalytic role by creating an enabling environment for goods and services exports, ranging from a commitment to functioning logistics and port networks to using diplomatic muscle to open doors in high-growth regions. Failing that, we risk ceding the field to competitors who see what we refuse to grasp. As the rest of Africa's mining industry is growing, so is its mining services and export infrastructure. Other African nations are investing in their port terminals, for example, leaving South Africa's ports to decline in efficiency and expediency. South Africa must ensure it is a stable, reliable trading partner. South Africa must urgently modernise its trade and logistics infrastructure, streamline cross-border processes, and position itself as the continent's mining services hub. This means not only fixing our ports and rail, but also actively supporting local firms to expand across the region through financing, trade diplomacy, and smart industrial policy. The African Continental Free Trade Area presents a generational opportunity to reshape how and where value is created in African mining, but only countries that move quickly and decisively will benefit. South Africa has the capabilities; now it needs the coordination and political will to act. Africa's mining future is vast, complex, and still up for grabs. South Africa can lead it — not only with excavators and explosives, but with ideas, services, and strategic reach. For a country searching for growth, that's a prospect worth mining.
Yahoo
02-07-2025
- Business
- Yahoo
VHM signs HMC offtake agreement with Mitsui for Goschen project
VHM has signed a letter of interest (LoI) with Mitsui to collaborate on a proposed agreement to supply 40% of the heavy mineral concentrate (HMC) from its Goschen rare earths and mineral sands project in northwest Victoria, Australia. The LoI outlines that Mitsui will provide a trade finance facility to VHM concerning the potential transaction, subject to due diligence. The key terms of the LoI include an initial term of three years from the commencement of production. The LoI is non-binding, and its terms are subject to formal agreement. Mitsui is keen on developing a growing business partnership with VHM. The Goschen project is classified as a Tier 1 integrated rare earth and mineral sands project. The project received primary approval in December 2024 and a mining licence in April 2025, with secondary approvals advancing towards production. VHM CEO Ron Douglas stated: 'The partnering with Mitsui, a globally significant Japanese counterparty, not only provides VHM with long-term offtake for its HMC [but] also provides a strategic funding facility. VHM looks forward to establishing a long-term relationship with Mitsui.' The Goschen project has a clear pathway to production anticipated in the fourth quarter of 2026 through a staged development strategy. It is a dual commodity asset that will generate revenue from two independent product streams, including rare earths and HMC, which encompasses zircon and titanium. The project has a compelling mineral assemblage and mineralisation, with simple operating methodologies involving shallow-pit mining via truck-shovel and a conventional processing flowsheet. VHM has also secured 100% of the land ownership necessary for the Goschen project footprint. In April 2025 VHM signed a memorandum of understanding (MoU) with Currumbin Minerals to supply HMC from the Goschen project. The MoU establishes a cooperative framework, targeting a formal agreement for the sale of HMC to Currumbin for processing at its Queensland facility. "VHM signs HMC offtake agreement with Mitsui for Goschen project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
