Commodities

By Tshepo Magagane The most value-adding approach is to find and build – FQM started out by producing 2,000t pa and now, just in Zambia, they are about to hit 500,000t pa! Khoemacau was taken over for USD35m in distress (went into it during commissioning) and was sold for USD2.0Bn! The thing about buying a […]

Observations By Tshepo Magagane  Unfortunately, China has cornered most of the global market. And Friedland, who has been connected to China since the ‘90s, says it’s about 30 years ahead of us. And for processing of some minerals, there may be no catching up, given the small and specialized quantities involved. Friedland is building a […]

By Tshepo Magagane Gold – is it getting ahead of itself? Inflation adjusted all time high is USD3,800/oz – as QE started, you had Swiss based wealth managers going USD4,000-5,000/oz (the purported relationship with interest rates) 15yrs back post GFC when Central Banks raced to hold interests rates at zero, this is what we were […]

Analysed By Tshepo Magagane Not all metals are created equal! Not all commodities are created equal! Not all jurisdictions are created equal! Not all management teams are created equal! You need teams that understand Geology, Engineering, Social, Politics BUT most importantly Mine Finance. Why I will keep shouting about the opportunity the Transition presents for […]

Analysis By Tshepo Magagane NB: while on the other side – [Ivanhoe Mines is entering a new phase of strong free cash flow generation, following the completion of peak capital expenditures at its flagship Kamoa-Kakula copper complex] – dear me, he called it right!! 1.  Lumwana – Zambia Low grades realities – Barrick using USD3/lb […]

Written By Denise Cortês-Keyser 🚨 The global race for minerals is on. hashtag#AI, hashtag#EVs, and hashtag#renewables are fueling demand for lithium, graphite, and rare earth metals. China dominates supply. The U.S. and Europe need alternatives. Mozambique holds some of the world’s most strategic minerals—yet remains largely untapped. The time to invest is NOW. 📊 𝐌𝐨𝐳𝐚𝐦𝐛𝐢𝐪𝐮𝐞’𝐬 𝐌𝐢𝐧𝐢𝐧𝐠 & 𝐂𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐌𝐢𝐧𝐞𝐫𝐚𝐥𝐬✔ 𝐓𝐨𝐩 𝟑 𝐆𝐥𝐨𝐛𝐚𝐥 𝐆𝐫𝐚𝐩𝐡𝐢𝐭𝐞 𝐏𝐫𝐨𝐝𝐮𝐜𝐞𝐫 – Supplies 10% of global graphite for […]

Written By Tshepo Magagane Firstly, they call it high grade and taking a closer look at it, this is 61% – so they cant be looking at HBI/DRI. They why pay up this much for the asset Relative comparison – PFS only coming out this year and first ore in 2030…yet they are paying  0.9x […]

Analysed By Tshepo Magagane As much as they are a fool’s errand, you must pay attention to them for debt and equity models. I am going through the Barrick – Lumwana/Reko Technical reports. They are using this LT price as a scenario, but both projects would generate an IRR at USD3/lb (and interestingly, for Gold at […]

By Tshepo Magagane – Pangaea Mining & Infrastructure Executive [Kansanshi – Copper C1 cash cost1 of $1.21 per lb was $0.08 lower quarter-over-quarter as a result of the drawdown of stockpiles Sentinel – Copper C1 cash cost 1 of $2.11 per lb was higher than the preceding quarter as a result of lower production volumes and higher tolling […]