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Mining News

More diamond sales for Lucapa

By: Esmarie Iannucci     Updated 1 hour 7 minutes ago Diamond miner Lucapa has generated A$2.84-mllion in revenue from the sale of 1 223 ct of diamonds from its Lulo mine, in Angola. The ASX-listed company noted that its latest Lulo parcel had achieved an average price of A$2 324/ct. 

Salt Lake continues apace with Lake Way construction

By: Esmarie Iannucci     Updated 1 hour 9 minutes ago Potash developer Salt Lake Potash has completed the construction of its Stage 2 evaporation ponds and trench network at its Lake Way sulphate of potash project, in Western Australia. The Stage 2 construction included 275 ha of brine evaporation ponds which will provide feed salts to the process... 

PNG LNG partners hope for positive outcomes - Oil Search

By: Esmarie Iannucci     Updated 1 hour 10 minutes ago Oil and gas producer Oil Search on Tuesday told shareholders that it would work with its project partners on the Papua New Guinea liquefied natural gas (PNG LNG) project to re-engage the PNG government to lock down the P’nyang gas agreement. The PNG government at the end of January suspended... 

Equinor stops exploration in Great Bight

By: Esmarie Iannucci     Updated 1 hour 12 minutes ago Norway-based Equinor has decided to discontinue its exploration drilling plan in the Great Australian Bight, just months after receiving environmental approval for the endeavor. The company said on Tuesday that following a holistic review of its exploration portfolio, Equinor had concluded that... 

Equinor stops exploration in Great Bight

St Elmo gets prescribed status

By: Esmarie Iannucci     Updated 1 hour 14 minutes ago The Queensland government has declared the A$470-milion Saint Elmo vanadium mine as a prescribed project. Minister for State Development Cameron Dick said the Multicom Resources d project could deliver 200 construction jobs and 150 operational jobs, with priority given to locals.  

Precious metals bull Excellon buys Otis Gold

By: Mariaan Webb     24th February 2020 The share price of Vancouver-headquartered Otis Gold surged 28% on Monday, following the news that Toronto-listed Excellon Resources would buy the company. The combined business would combine Excellon’s Platosa high-grade silver mine, in Mexico, with Otis’ “high-return, low-risk” Kilgore... 

Precious metals bull Excellon buys Otis Gold
Drilling at the Kilgore project, in Idaho, US.

NQ Minerals plans to reopen Beaconsfield in Australia

By: Creamer Media Reporter      24th February 2020 London-listed NQ Minerals has entered into agreements to purchase a gold mine about 200 km from its current Hellyer base and precious metals mine, in Tasmania. The Beaconsfield gold mine is currently closed and NQ chairperson David Lenigas said on Monday that the miner would be working with its... 

Freeport's Adkerson pours cold water on Barrick Grasberg tie-up

By: Reuters     24th February 2020 Freeport McMoRan is not interested in pulling the trigger on a deal for its Grasberg copper-gold mine in Indonesia, president and CEO Richard Adkerson said on Monday, tamping down speculation of a tie-up with Canadian miner Barrick Gold. “Now’s just not the time for Freeport to think about doing... 

Freeport's Adkerson pours cold water on Barrick Grasberg tie-up
Freeport McMoran CEO Richard Adkerson

ONGC likely to report production decline

By: Ajoy K Das     24th February 2020 Indian State run oil, gas exploration and production (E&P) major ONGC is expected to report 3.4% decline in production during current financial year, closing on March 31, 2020. According to a company official, during the first nine months of the financial year, ONGC’s production was maintained... 

Prospective coal block bidders seek bundled approvals

By: Ajoy K Das     24th February 2020 Large Indian coal consuming companies planning to enter commercial coal mining have asked the government to bundle mandatory approvals before putting up blocks for auction. The companies made a presentation at a recent meeting where government sought input from various stakeholders on best... 

Amplats throws light on PGM substitution, electric vehicle prospects, community dividends  

By: Martin Creamer     24th February 2020 The platinum industry could very easily experience an original equipment manufacturer (OEM) switching from palladium to platinum in the short term, platinum group metals (PGMs) were unlikely to be used in battery electric vehicles soon and communities are sharing considerably in the latest... 

Amplats throws light on PGM substitution, electric vehicle prospects, community dividends
Amplats CEO Chris Griffith responds to Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala; Editing: Nicholas Boyd.

Sasol confirms making 600 MW own-gen proposal in response to DMRE RFI  

By: Terence Creamer     24th February 2020 Sasol CEO Fleetwood Grobler confirmed on Monday that the energy and chemicals group made a submission to the Department of Mineral Resources and Energy in line with its request for information (RFI) on possible emergency electricity solutions that could be “grid-connected in the shortest time at... 

Sasol confirms making 600 MW own-gen proposal in response to DMRE RFI
Sasol CEO Fleetwood Grobler on the need for a culture change at the company following major cost overruns at its US project. Camera Work: Kutlwano Matlala. Editing: Nicholas Boyd. Recorded: 24.2.2020

Botswana Diamonds intersects kimberlite at Marsfontein

By: Tasneem Bulbulia     24th February 2020 Dual-listed Botswana Diamonds on Monday announced that kimberlite, identified by visual inspection, had been intersected at shallow depth in two out of three holes drilled at the Marsfontein project in Limpopo, South Africa. The company has been undertaking a percussion drilling campaign on... 

Industry strongly opposed to further tariff increases for Eskom 

By: Marleny Arnoldi     24th February 2020 The National Energy Regulator of South Africa (Nersa) on Monday hosted the last of its public hearings on Eskom’s regulatory clearing account (RCA) application for the 2018/19 financial year, with various organisations having expressed their opposition to the granting of further tariff increases... 

Harmony confirms Kusasalethu fatality

By: Tasneem Bulbulia     24th February 2020 Dual-listed Harmony Gold Mining Company on Monday confirmed that an employee had lost his life on Friday evening, following a scraper winch-related incident at the Kusasalethu mine, near Carletonville. “Our sincere condolences go out to our colleague’s family, friends and fellow workers. We will... 

Goldplat swings to operating profit

By: Tasneem Bulbulia     24th February 2020 Gold producer Goldplat on Monday reported a return to an operating profit of £2.21-million for the six months ended December 31, compared with an operating loss in the six months ended December 31, 2018.   According to the group’s interim results for the period, profit, excluding unrealised... 

Gemfields’ first emerald auction of 2020 hampered by coronavirus

24th February 2020 While the results of an auction of predominantly commercial-quality rough emeralds held in Lusaka, Zambia, from February 18 to 21, had been in line prior auctions of commercial-quality emeralds, and demonstrate a stable underlying market, there was evident fallout of Covid-19, or the coronavirus,... 

Mining companies in danger of perceived ‘SDG-washing’ – report

By: Tasneem Bulbulia     24th February 2020 Many of the world's largest mining companies risk the perception that they are “sustainable development goal- (SDG-) washing” through selective reporting of their impacts on these universal goals, the ‘Responsible Mining Index (RMI) Report 2020’ reveals. The report was released on Monday by... 

Kodal progresses mining licence application for Mali project

By: Simone Liedtke     24th February 2020 Mineral explorer and developer Kodal Minerals is making quick progress in its mining license application for the Bougouni lithium project, in southern Mali. Following the first technical meeting with the Direction Nationale de la Géologie et des Mines (DNGM) to review the application, the DNGM... 

Moroccan power infrastructure lowers Khemisset project costs

By: Simone Liedtke     24th February 2020 Potash project developer Emmerson has completed the full cost estimate for the capital expenditure required to ensure electricity and gas supply at its 100% owned Khemisset potash project, in northern Morocco. Khemisset is a potentially world-class potash development with low capital costs and,... 

AngloGold’s Dushnisky appointed World Gold Council chairperson 

By: Simone Liedtke     24th February 2020 AngloGold Ashanti CEO Kelvin Dushnisky has been appointed the World Gold Council’s new chairperson. He succeeds David Harquail, who has served as chairperson since 2017. 

AngloGold’s Dushnisky appointed World Gold Council chairperson
AngloGold Ashanti CEO Kelvin Dushnisky

Fresnillo announces early underground start at Juanicipio

By: Creamer Media Reporter      24th February 2020 The start-up of the Juanicipio silver and gold underground mine, in Mexico, has been brought forward to mid-2020, London-listed Fresnillo announced on Monday. Underground production will now start ahead of schedule in June, at an additional cost of $45-million, the company said in a statement.... 

Hudbay prepares for next phase of growth

By: Mariaan Webb     24th February 2020 Dual-listed Hudbay Minerals is preparing for the next phase of growth, focusing on mining the high-grade Pampacancha satellite deposit, in Peru, and completing the refurbishment of the New Britannia gold mill, in Canada. Both projects, CEO Peter Kukielski says, require low capital intensity, but... 

Lucara’s strong 2019 performance positions company for further growth  

By: Tasneem Bulbulia     24th February 2020 Vancouver-headquartered Lucara Diamond Corp achieved strong operating results for the year ended December 31, a reflection of the company’s continued focus on safe, reliable operations, president and CEO Eira Thomas said in a statement. She indicated that the company’s strategy had yielded... 

Lucara’s strong 2019 performance positions company for further growth

Westgold profits surge

By: Esmarie Iannucci     24th February 2020 A 17% increase in gold production during the first half of 2020 has seen gold miner Westgold Resource report a 187% increase in net profits after tax. Westgold on Monday announced that gold production during the six months ending December had increased to 120 127 oz, with revenues up by 18%, to... 

New Orion- and Yamana-linked royalty company launched

By: Mariaan Webb     24th February 2020 Orion Resource Partners and Yamana Gold on Sunday announced the launch of a new precious metals royalty company, with assets in Africa, Australia, North America and South America. TSX-V-listed Guerrero Ventures will acquire royalty, stream and gold loan assets from Orion and Yamana for... 

Sasol holds back on dividend as it reports big H1 earnings slump

By: Terence Creamer     24th February 2020 Energy and chemicals group Sasol reported a 72% slump in earnings to R4.5-billion in the six months to December 31, 2019, compared with the prior period. Headline earnings a share, meanwhile, decreased by 74% to R5.94 when compared with the prior period. The board also decided not to declare an... 

Sasol holds back on dividend as it reports big H1 earnings slump

Egypt to launch bid round in March for gold exploration in Eastern Desert - official

By: Reuters     24th February 2020 Egypt plans to launch an exploration round for gold in its Eastern Desert in the first half of March, an official at the mineral resources authority said on Sunday. Investors will be bidding on blocks which will be awarded to them within four months of the bid round being launched, the official... 

Ecuadorean court denies public vote on halting mining projects

By: Reuters     24th February 2020 Ecuador's Constitutional Court late on Friday denied for a second time a request by activists to hold a public vote on whether to ban mining in the Andean country's mineral-rich Azuay province, where several mining projects are in development. Azuay's prefect, Yaku Perez, who submitted the... 

Apollo raises A$10m for Rebecca exploration

By: Esmarie Iannucci     24th February 2020 ASX-listed Apollo Consolidated will raise A$10-million to accelerate drilling activities at its flagship Lake Rebecca gold project, in Western Australia. The junior would place 47.6-million shares, at a price of 21c each to institutional and sophisticated investors under its existing placement... 

Teck pulls application for C$20bn oil sands project to allow for climate debate

By: Mariaan Webb     24th February 2020 Diversified major Teck Resources CEO Don Lindsay on Sunday announced the group’s “difficult decision” to formally withdraw its Frontier oil sands project from the federal regulatory review process. As a result, the major announced it would write down the C$1.13-billion carrying value of the... 

Teck pulls application for C$20bn oil sands project to allow for climate debate
Teck CEO Don Lindsay

Sky raises funds for gold exploration

By: Esmarie Iannucci     24th February 2020 Junior explorer Sky Metals will raise some A$10.5-million through a share placement to fund exploration work at the Cullarin gold project, in New South Wales, where it is earning an 80% interest. The company has received firm commitments for the placement of more than 47.72-million shares, at a... 

Sayona places a bid for Canadian NAL

By: Esmarie Iannucci     24th February 2020 Emerging lithium hopeful Sayona Mining has submitted its bid for North American Lithium (NAL), in Quebec. NAL in 2018 produced 114 000 t of spodumene against a nameplate capacity of 180 000 t. The operation also has the potential to produce battery-grade lithium carbonate with the necessary... 

TerraCom makes a play for African bauxite

By: Esmarie Iannucci     24th February 2020 ASX-listed TerraCom is continuing its acquisition spree in Africa, with the company signing a binding term sheet for the acquisition of bauxite developer Anglo African Minerals (AAM). AAM’s bauxite resources are located in the Republic of Guinea, consisting of three development projects,... 

Doray assets skyrocket Silver Lake profits

By: Esmarie Iannucci     24th February 2020 Gold miner Silver Lake Resources has reported a 1 117% increase in profits after tax for the first half of 2020, on the back of a near doubling in gold production and higher gold prices. Silver Lake on Monday reported that gold production for the half year ended December increased by 98% on the... 

Doray assets skyrocket Silver Lake profits

Ramelius posts strong first half

By: Esmarie Iannucci     24th February 2020 Higher gold grades and higher achieved sales prices has seen gold miner Ramelius Resources report a 329% increase in net profits after tax for the six months ended December. The miner on Monday reported that net profits after tax for the interim period had increased from the A$4.8-million... 

New offer emerges for Alto

By: Esmarie Iannucci     24th February 2020 The share price of junior Alto Metals surged by more than 80% on Monday as the company weighs its options regarding a possible bid from fellow-listed Goldsea Australia Mining. Goldsea, which is an Australian wholly-owned subsidiary of Shandong Goldsea Group, at the end of last week announced... 

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