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Mining News

Rainbow reports lower full-year output, but progresses strategy

By: Marleny Arnoldi     Updated 53 minutes ago London-listed Rainbow Rare Earths experienced operational challenges at its Gakara mine, in Burundi, and produced only 114 t of concentrate in the six months ended December 31, 2019. This compares with the 564 t produced in the six months ended December 31, 2018.  

Coronavirus cited in two US coal mine closure announcements

By: Mariaan Webb     Updated 54 minutes ago The fast-spreading coronavirus pandemic is affecting US coal operations, with two companies on Monday announcing that they would idle operations in response to Covid-19, which has hit the global economy hard. NYSE-listed Consol Energy said it would curtail production at its Bailey mine, in... 

Coronavirus cited in two US coal mine closure announcements

Cora Gold starts drilling at Senegal permit

By: Simone Liedtke     Updated 58 minutes ago West Africa-focused gold company Cora Gold has started a 2 000 m reverse circulation (RC) drilling programme at its Madina Foulbé permit, in eastern Senegal, to test mineralisation at depth. The project is located within the prolific Kedougou-Kenieba Inlier gold region, which has, historically,... 

Solidarity Fund sets aside R100m to procure protective equipment for frontline health workers

By: Terence Creamer     Updated 1 hour 56 minutes ago The Solidarity Fund announced on March 30 that it would be using a portion of the R500-million raised during its first week of operations to facilitate the emergency procurement of the personal protective equipment – including five-million face masks – that was urgently required by public and... 

Solidarity Fund sets aside R100m to procure protective equipment for frontline health workers

Gold miners Argonaut and Alio announce merger

By: Mariaan Webb     Updated 2 hours 2 minutes ago Canadian companies Argonaut Gold and Alio Gold on Monday announced an at-market merger in which Argonaut would buy Alio to create an intermediate miner producing 235 000 gold-equivalent ounces a year. Alio’s shares would be exchanged on the basis of 0.67 of an Argonaut share, with the exchange... 

Caledonia applies for exemption to suspend operations amid Zim lockdown

By: Tasneem Bulbulia     Updated 3 hours ago Aim-listed Caledonia Mining Corporation has been granted permission for the Blanket gold mine, in Zimbabwe, to continue with its operations at a reduced level during the nationwide lockdown of Zimbabwe to restrict the spread of Covid-19, while it awaits a full verdict on its application for... 

Pan African continues with limited surface work, essential activities

By: Marleny Arnoldi     Updated 3 hours ago Gold miner Pan African Resources has implemented the necessary measures at all its operations to conduct essential services during the remainder of the national lockdown period ending April 16, as approved by the Department of Mineral Resources and Energy. These essential services, specific to... 

Ironveld share price skyrockets 93% following IIG partnership announcement

By: Simone Liedtke     Updated 3 hours ago Exploration and development company Ironveld’s share price on the LSE skyrocketed by over 93% following its announcement on March 30 that it would be entering a new strategic partnership with Inclusive Investment Group (IIG) to raise about £2.7-million. The partnership marks a significant... 

Covid-19 causes considerable impact to Gemfields

By: Tasneem Bulbulia     Updated 3 hours ago Gemstone miner Gemfields expects a significant detrimental impact on its operations, revenues and business during 2020 and possibly beyond from the Covid-19 pandemic. As of March 30, all but critical operations at the Kagem emerald mine, in Zambia, have been suspended for what the company hopes... 

Perseus updates Edikan life-of-mine plan

By: Simone Liedtke     Updated 3 hours ago Dual listed Perseus Mining has updated the mine plan for the Edikan gold mine, which is now forecast to produce more than 1.3-million ounces of gold over the life-of-mine (LoM). This is 95% higher than the total production estimated in the previous LoM plan, Perseus said, attributing the increase... 

De Beers cancels third rough diamond sales cycle

By: Simone Liedtke     Updated 4 hours ago Owing to public health restrictions on the movement of people and products in Botswana, South Africa and India, diamond miner De Beers will not hold its third rough diamond sales cycle of this year. As a result, De Beers is enabling sightholders to defer 100% of their Sight 3 allocations to later... 

Atalaya suspends operations as Spain tightens coronavirus controls

By: Mariaan Webb     Updated 4 hours ago Spain has implemented enhanced measures to protect its people from the fast-spreading coronavirus with a new royal decree on Sunday stipulating that only employees from essential industries are allowed to work for the next week-and-a-half. The list of essential industries excludes mining and... 

Atalaya suspends operations as Spain tightens coronavirus controls
The Proyecto Riotinto mine, in Spain.

Australia's Coronado to idle US operations as virus trips global economic growth

By: Reuters     Updated 5 hours ago Coronado Global Resources said on Monday it will temporarily halt metallurgical coal output from its U.S. operations due the global economic fallout of the coronavirus pandemic but will meet its current commitments. Operations at its other mine in Australia, Curragh, which accounts for 65% of... 

Proudly South African hydrogen breakthrough with Shell’s backing

By: Martin Creamer     Updated 5 hours ago At this time of huge coronavirus uncertainty, the chests of a group of engineers here must surely be bulging with pride following their major Proudly South African world breakthrough that could speed up the global deployment of hydrogen as a competitive universal and environmentally friendly... 

Proudly South African hydrogen breakthrough with Shell’s backing
Photo by Hydrox Holdings
Hydrox Holdings membraneless electrolyser.

Metallica's focus shifts at Urquhart

By: Esmarie Iannucci     Updated 5 hours ago ASX-listed Metallica Minerals on Monday announced that focus at its Urquhart bauxite project, in Queensland, would shift to explore the viability of mining a potential industrial sand product. Metallica told shareholders that it was recommending that the joint venture (JV) with private Chinese... 

Australia tightens foreign investment rules amid Covid-19 chaos

By: Esmarie Iannucci     Updated 5 hours ago The federal government on Monday announced temporary changes to the foreign investment review framework that are designed to protect Australia’s national interest as the country dealt with the economic implications arising from the spread of the coronavirus. The changes come as reports emerged... 

Australia tightens foreign investment rules amid Covid-19 chaos

Allegiance secures loan for New Elk restart

By: Esmarie Iannucci     Updated 5 hours ago ASX-listed Allegiance Coal has entered into a $25-million loan term sheet with credit asset manager Nebari Natural Resources Credit Fund, which could contribute to the capital required to start up the New Elk mine, in Colorado. The loan will have a 36-month term from the date of drawdown, with... 

Detour Lake worker tests positive for Covid-19

By: Creamer Media Reporter      Updated 5 hours ago Canadian gold miner Kirkland Lake has suspended nonessential work and visits to the Detour Lake mine site, in Ontario, after a worker tested positive for Covid-19. The company said at the weekend that the worker arrived on the mine site on March 12, began showing symptoms and self-isolated on... 

Trevali says processing impacted by Peru emergency extension

By: Simone Liedtke     Updated 6 hours ago The Santander zinc/lead mine is continuing to operate during Peru’s national emergency, but TSX-listed Trevali Mining reported on Friday that the country’s extension of the emergency would impact on processing at the 2 000 t/d operation. The Vanouver-based miner said that it would not be able to... 

Safer tailings storage facilities can be achieved − SRK

By: Simone Liedtke     Updated 7 hours ago Safer tailings storage facilities (TSFs) – or tailings dams – can be achieved when mine owners, contractors and engineering consultants work closely together, says SRK Consulting senior geotechnical engineer Linda Spies. Speaking after a recent Southern African Institute of Mining and Metallurgy... 

Safer tailings storage facilities can be achieved − SRK
SRK Consulting senior geotechnical engineer Linda Spies

AVZ Minerals’ DRC project delivers positive tin, tantalum test results

By: Donna Slater     Updated 7 hours ago ASX-listed mining exploration company AVZ Minerals has reported positive flotation test results of tin and tantalum recoveries at its Manono lithium and tin project in the Democratic Republic of Congo (DRC), with a total tin recovery of 63% with a grade of 64.1%,. AVZ has concentrated its... 

'Mines are shedding jobs and SME suppliers'

By: Mariaan Webb     Updated 7 hours ago While Canada’s support for small businesses hit by the economic fallout of the coronavirus pandemic has been welcomed, Mining Association of Canada president and CEO Paul Gratton says the entire economy needs to be protected to allow the country to respond when the recovery starts. Responding to... 

'Mines are shedding jobs and SME suppliers'

Rio sets aside A$25m for Covid-19 battle

By: Esmarie Iannucci     Updated 7 hours ago Major Rio Tinto has pledged $25-million in funding to support global grassroots community Covid-19 preparedness and recovery efforts. The additional investment would predominantly focus on value-in-kind opportunities, including the supply of masks and protective equipment to support emergency... 

Saturn raises exploration funds

By: Esmarie Iannucci     Updated 7 hours ago Junior Saturn Metals will raise nearly A$3-million in share placement to fund exploration and resource definition at its Apollo Hill gold project, in Western Australia. The placement will consist of 10.98-million new shares, priced at 27c each, and will be placed under Saturn’s existing... 

BHP fights Covid-19 in Chile

By: Esmarie Iannucci     Updated 7 hours ago Diversified major BHP has launched an $8-million plan to help mitigate the spread of COVID-19 in Chile. The company over the weekend announced that it has combined efforts with the medical faculty of the Universidad Católica, to raise the testing capacity and strengthen the Familiar Health... 

Queensland miners looking to hire - QRC

By: Esmarie Iannucci     Updated 7 hours ago The majority of resources companies in Queensland will either maintain or increase their workforce during Covid-19, a new survey by the Queensland Resources Council (QRC) has found. QRC CEO Ian Macfarlane said during these turbulent times the resources sector was considered an essential service... 

Red 5 raises A$125m for King of the Hills

By: Esmarie Iannucci     Updated 7 hours ago Gold miner Red 5 has raised A$125-million in a share placement to sophisticated and professional investors to develop the proposed integrated bulk openpit and underground mining and processing operation at King of the Hills, in Western Australia. The share placement, which was priced at 18c a... 

Oz Minerals targets A$150m cost cuts

By: Esmarie Iannucci     Updated 7 hours ago Copper/gold miner Oz Minerals on Monday maintained its production guidance for the full 2020, but announced a A$150-million deferral in overall capital expenditure for the year. The ASX-listed company told shareholders that in light of the COVID-19 pandemic, the company had undertaken an... 

Fitch Solutions says volatility to continue driving metals prices lower

By: Simone Liedtke     30th March 2020 Research agency Fitch Solutions expects volatility to continue playing to the downside for metal prices in the coming weeks owing mainly to bearish investor sentiment on the back of the widespread Covid-19 pandemic. The agency notes that metal prices started the year on a strong footing as the... 

Fitch Solutions says volatility to continue driving metals prices lower

Mining could be enormous post-virus stabiliser – Minerals Council

By: Martin Creamer     29th March 2020 The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release. Post coronavirus, South Africa would... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge

By: Martin Creamer     28th March 2020 South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) and the Motsepe family on Saturday formed the key part of the partnership of companies and organisations that have pledged R1 billion to assist with the current coronavirus (Covid-19) pandemic... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge
Photo by Creamer Media
Dr Patrice Motsepe and Dr Precious Moloi-Motsepe at Saturday's remote media conference using the Internet to ensure social distance.

Vedanta CEO Venkatakrishnan resigns

By: Reuters     27th March 2020 Diversified miner Vedanta said on Friday CEO S Venkatakrishnan has resigned due to personal reasons, less than two years after he took the helm. Sunil Duggal, current head of Vedanta unit Hindustan Zinc, will take over as interim CEO. Venkatakrishnan, who was previously CEO of South African... 

Vedanta CEO Venkatakrishnan resigns
Srinivasan Venkatakrishnan

Bolivia's largest mine suspends operations as virus controls tighten

By: Reuters     27th March 2020 Bolivia's San Cristóbal mine, a huge desposit of zinc, lead and silver, has suspended operations after the country imposed tough rules to halt the spread of coronavirus, its operator Minera San Cristóbal said in a statement on Friday. The company, a wholly-owned subsidiary of Japana's Sumitomo... 

AngloGold to conserve cash amid Covid-19 spread

By: Tasneem Bulbulia     27th March 2020 Gold miner AngloGold Ashanti is implementing cash conservation measures, including focused capital prioritisation and reducing non-essential spending across the business, and is well positioned to weather the current market uncertainty. At the end of 2019, the company had $463-million of cash,... 

Bauba turns a profit in 2019

By: Marleny Arnoldi     27th March 2020 Diversified mining and exploration company Bauba Resources managed to narrow its basic loss a share to 0.01c apiece in the year ended December 31, 2019, compared with a basic loss a share of 2.55c apiece in the year ended December 31, 2018. The company’s total comprehensive profit for the year... 

Bauba turns a profit in 2019

Mitsubishi unpacks movement of PGM markets amid lockdowns

By: Marleny Arnoldi     27th March 2020 Mitsubishi Corporation International (MCI) says in its latest precious metals update that it expects South Africa’s platinum supply to reduce by around 7%, or by between 200 000 oz and 300 000 oz, in light of closed operations during South Africa’s 21-day national lockdown. The announcement by... 

Mitsubishi unpacks movement of PGM markets amid lockdowns

Tharisa places smelter on care and maintenance, declares force majeure on chrome sales agreements

By: Donna Slater     27th March 2020 Platinum group metals (PGMs) and chrome concentrate miner Tharisa has shut its PGMs smelter, thereby placing it on care and maintenance, as well as declared force majeure on its contracted chrome concentrate sales agreements. The miner has also received force majeure notifications from its PGM... 

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