LSE says, hello, Africa! Come list with us

22nd May 2019, By: Bloomberg

It’s not often that the LSE comes to Africa looking for listings. Traditionally companies based on the continent have to make a strong case to have their stock traded on one the world’s biggest bourses.

But this week, officials are on roadshow in a bid to boost the LSE’s 115 African listings. The exchange is banking on partnerships with African exchanges, including those in Nigeria and Kenya, for dual listings, according to Director of Emerging Markets and International Markets Ibukun Adebayo.

They will visit Nairobi and Luanda, the capitals of Kenya and Angola respectively, after a similar visit to South Africa two months ago. They also plan future stops in Abidjan, Cairo and Casablanca, Adebayo said. A final roadshow in New York is planned to showcase the companies to African investors as part of a UN initiative, he said.

“If a company has an international strategic growth plan, then the LSE is a perfect vehicle for the company to come and list,” Adebayo said Tuesday in an interview in Nairobi. “If the company is purely domestic and it needs to raise money in the domestic market and increase the number of investors available to it, then the LSE can help work with local partners.”

The LSE doesn’t expect Brexit to have a significant effect on the operations of the bourse, Adebayo said. On average, about 40% of the investors in companies listed on the LSE are from the UK, 30% from the US and 9% are European, he said.

Many African companies are in the budding stage, focusing on growth and lack the scrutiny that comes with being a publicly traded entity, Nairobi Securities Exchange Chief Executive Officer Geoffrey Odundo said during the roadshow.

“Every entrepreneur’s dream is to go public,” Odundo said. “We are yet to get to that realization in Africa.”

Companies that have announced plans to list on the LSE include the National Oil Corporation of Kenya and Econet Wireless Zimbabwe.

20th May 2019, By: Martin Creamer, Creamer media editor

JOHANNESBURG (miningweekly.com) – A new manganese-containing material may contribute to platinum-using hydrogen fuel cells being driven down the cost curve.

The new material, made from manganese hydride, is being earmarked for use in molecular sieves that work with the fuel cells in hydrogen fuelled systems that generate electricity.

Science Daily quotes Professor David Antonelli, the physical chemistry chairperson at Lancaster University, as saying the use of manganese-based sieves may result in hydrogen fuel cell systems costing many times less than lithium-ion batteries used in electric vehicles.

As countries tighten emission standards that define the acceptable limits for exhaust emissions of new vehicles sold, hydrogen fuel cells are coming into their own. CXLive reports that Chinese vehicle dealerships will no longer be allowed to sell vehicles that do not comply with the upcoming sixth emission standard in China, which is giving strong ongoing support to the development of hydrogen fuel projects.

Last week, Beijing Shouhang IHW Resources Saving Technology signed a cooperation agreement with the Datong local authority that gives the Shenzhen-listed company access to a $290-million hydrogen industry investment fund, tax support and low-interest loans. Envisaged are three hydrogen production plants and ten hydrogen refuelling stations.

Hydrogen Fuel News reports that international company Bosch is throwing its full weight behind hydrogen fuel cell technology, in partnership with Powercell Sweden, a manufacturer of  fuel cell stacks that convert the hydrogen into electricity. The technology developed by the two companies is earmarked for initial use in heavy-duty trucks and then cars.

Hydrogen fuel cell cars are electric vehicles that use hydrogen and oxygen to generate electricity with the help of platinum. The byproduct is water and there is no exhaust emission. Hydrogen filling stations are needed to support fuel cell electric vehicles, which is why hydrogen infrastructure is being rolled out in many countries. In the US, for example, the state of California is targeting 1 000 hydrogen fuel stations by 2030 for its growing number of fuel cell electric vehicles that currently refuel at 39 hydrogen stations, with another 25 in the development phase.

Anglo American Platinum CEO Chris Griffith told last month’s Platinum Group Metals Industry Day of “very real and credible progress being made in the development of the hydrogen economy”, which is being benchmarked as the sole route to 100% carbon-free driving for cars, trucks, buses, trams, trains and ships, in a world that is legislating to end harmful vehicle emissions.

“From start to finish, not a single gram of carbon dioxide is emitted,” Anglo American executive head of PGMs market development Benny Oeyen assured Mining Weekly Online in a recent video interview.

What is more, hydrogen can store excess electricity for placement on power grids at times when the wind is not blowing or the sun is not shining, and hydrogen fuel cell vehicles can travel 600 km to 700 km before needing to fill up in two to three minutes at filling stations.

Hydrogen, which is clean, is generated in abundance by the sun, with the oceans storing voided hydrogen that can be regenerated to active hydrogen.

Currently, Honda, Toyota, Hyundai and Shanghai Automotive International Company Motor Corporation of China (SAIC) have hydrogen fuel cell cars on the market. SAIC, which is the joint venture partner of General Motors and Volkswagen, the two market leaders in China, has the Roewe 950 fuel cell car.

Many more vehicle manufacturers are also studying fuel cell electric vehicles, which dovetail perfectly with the world’s adoption of renewable energy to combat climate change.

May 7, 2019.  Alex Gluyas. Source: Australian Mining.

A team of German scientists has proven for the first time that the concentration of gold in the notorious ‘fool’s gold’ directly depends on the level of arsenic in the pyrite where the gold is encrusted.

To the untrained eye, pyrite is commonly mistaken for gold and is hence referred to as ‘fool’s gold’, but it isn’t entirely useless.

Pyrite often leads to discovering real gold given they both form together under similar conditions, making the discovery all the more important.

The Carlin-type gold deposits in Nevada, United States is the origin of five per cent of global production, however, in these deposits, gold doesn’t appear in nuggets or veins, but is hidden, stuck with arsenic in pyrite.

The potential to unlock the gold from other deceiving minerals was recognised in Tasmania by Newcrest Mining in 2012, when they provided a $2.5 million grant to the University of Tasmania to develop a mineral research facility.

The gold research facility used micro-analytical techniques to help solve ore definition issues, including traces of arsenic which affected the extraction and recovery of gold.

Fast-forward seven years and a team of scientists from the Helmholtz Centre Potsdam can now show experimentally that the higher the concentration of arsenic, the more frequently gold will chemically bind with pyrite.

In the Earth’s crust, gold generally occurs in concentrations of 2.5 parts per billion but in order to mine it economically, gold concentration must be thousands of times higher and found in a focused area close to the surface.

When gold is ‘invisible’ it is because it occurs in tiny pyrite rims that grow on older ‘fool’s gold’ grains originating from sedimentary rocks.

In the laboratory experiments, researchers led by Christof Kusebauch showed that arsenic plays the crucial role in extracting gold from hot solutions, likely magmatic systems, that pass through the rock.

Similar to the natural ore system, authors used iron-rich carbonates and sulphur-rich solutions to synthesise the ‘fool’s gold’ crystals.

“Only then we were able to show that the partition coefficient which controls how much gold is incorporated into pyrite depends on the amount of arsenic,” Kusebauch said.

“The major challenge was to experimentally grow gold and arsenic bearing pyrite crystals that were big enough to analyse.”

Ultimately, the findings show that if solutions containing gold and arsenic from magmatic sources pass through sedimentary rocks with large amounts of smaller ‘fool’s gold’ grains, bigger gold deposits can be formed.

The researchers believe the new discovery may help in the future discovery of gold deposits.

Refer published article here

Source – Australian Mining 30.04.2019. Saracen Mineral Holdings has significantly increased its planned exploration and drilling expenditure to accelerate an ongoing push towards becoming a 400,000 ounce a year gold producer.

The company has budgeted $60 million for exploration across its Western Australian operations in the 2019 financial year as part of the growth strategy.

Saracen will divide the $60 million between the Carosue Dam corridor ($11 million), the Karari and Whirling Dervish deposits ($20 million) within Carosue Dam, and the Thunderbox project ($16 million). The remaining amount ($13 million) will be allocated for other exploration activities.

The company said in a statement that it had already invested $38 million in exploration by the end of the company’s record-breaking March 2019 quarter.

The news follows the release of company drill results, which included “extensive mineralisation” outside of Saracen’s existing resources, according to managing director Raleigh Finlayson.

This includes the emerging Atbara gold discovery, which was found along with a second discovery, Qena, about four kilometres north of the Carosue Dam mill in November 2018. The company has since merged Qena with Atbara to form a single discovery of the same name with a strike length of 650 metres.

“Our aim is to grow production to 400,000 [ounces] a year while maintaining long mine lives and these outstanding results show we are on track to achieve that goal,” Finlayson said.

Some of the strongest finds from this drilling round included 27 metres at 8.1 grams of gold a tonne at Karari; 37 metres at 3.5 grams a tonne at Whirling Dervish; 44 metres at two grams a tonne at Thunderbox A Zone; and 43 metres at 3.7 grams a tonne at the Thunderbox D Zone.

The company has also embarked on a 3D seismic survey of Carosue Dam, which it expects to complete in the September 2019 quarter.

Source https://www.australianmining.com.au/news/saracen-commits-60m-to-exploration-as-growth-continues/

Exploration fundamentals for most metals in 2019 are good, predicted global budget for 2019 is smaller than 2018 with 5-10% increase in expenditure, mainly focusing on  late-stage exploration as industry remains risk-averse, grass root exploration budgets fell to an all time low in 2018, major minors spending more exploration budget than juniors for grass root exploration, Latin America favored exploration destination, Canada largest aggregate budget.  Commodities of interest include gold, copper and zinc saw highest increases, also lithium and cobalt with marked increases. Source: S&P Global Market Intelligence.

Global Exploration Budgets To Increase 10% In 2019

If you’re interested in learning more about the global mineral exploration trends, S&P Global Market Intelligence provide this very useful and interesting trend report dated March 2019.

World Exploration Trends 2018 Report

Exploration Geological Consulting (Pty) Ltd will be at the  Cape Town Mining Indaba 3-6th February, contact Regina by cell +27 797 107 489 or email office@egcsouthafrica.com to arrange a meeting and learn more about how our team of Exploration and Mine Development specialists can assist your project.