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Mining News

Enviro reporting, licensing processes to enjoy extended timeframes

By: Marleny Arnoldi     Updated 1 hour 9 minutes ago Law firm Webber Wentzel says that, in light of the current restrictions of movement of people in South Africa to curb the spread of Covid-19, various timeframes around environmental applications and others have been extended. Environment, Forestry and Fisheries Minister Barbara Creecy on March... 

Kinross withdraws 2.4Moz guidance, says Q1 sales lower than output

By: Mariaan Webb     Updated 1 hour 23 minutes ago Canadian firm Kinross Gold has become the latest miner to withdraw its production and cost guidance for 2020, citing the coronavirus pandemic’s significant impact on the world economy and the implications of government-mandated constraints on business activities. While the crisis has had no... 

Kinross withdraws 2.4Moz guidance, says Q1 sales lower than output
The Fort Knox mine, in Alaska.

Central Asia Metals’ results demonstrate company’s ‘fundamental strength’

By: Simone Liedtke     Updated 1 hour 53 minutes ago Copper, zinc and lead production and exploration company Central Asia Metals’ (CAML’s) results for the year ended December 31, demonstrate the “fundamental strength” of the business, which owns two low-cost base metals operations, one in Kazakhstan and the other in North Macedonia. CEO Nigel... 

Austral expands Pingüino with project acquisition

By: Creamer Media Reporter      Updated 2 hours 3 minutes ago ASX- and TSX-V-listed Austral Gold will expand the area of its Pingüino project by securing an additional 7 000 ha, resulting in a new exploration cluster in Santa Cruz, Mexico. The company on Wednesday announced the acquisition of an 80% interest in TSX-V-listed New Dimension Resources’ Sierra... 

Vast community JV delayed by Covid-19 lockdown

By: Tasneem Bulbulia     Updated 2 hours 15 minutes ago Aim-listed Vast Resources has noted that all internal processes leading to the conclusion to the Chiadzwa Community Joint Venture (JV), which were expected to be finalised during March, have not completed during the month. This is owing to the Zimbabwe government having declared a 21-day lockdown... 

Law firm outlines when mines must report, investigate Covid-19 cases

By: Marleny Arnoldi     Updated 3 hours ago In a new report, law firm ENS Africa discusses whether employers are obligated to report and investigate incidents of occupational-acquired Covid-19, finding that it depends on the employees’ type of work. ENS executives and authors of the report Willem le Roux, Pieter Colyn and Tyla Foster... 

Law firm outlines when mines must report, investigate Covid-19 cases

Standard has R427bn contingent liquidity, grants R35bn payment holiday 

By: Martin Creamer     Updated 3 hours ago Capital and liquidity requirements across all the markets in which it operates are continuing to be met, Standard Bank Group financial director Dr Arno Daehnke said during an investor call. “We would argue strenuously that this crisis is still very much a health crisis. It’s not yet a liquidity... 

Standard has R427bn contingent liquidity, grants R35bn payment holiday
Sim Tshabalala

INV Metals’ Ecuador project shines in updated feasibility study

By: Mariaan Webb     Updated 3 hours ago The strong gold price is underpinning robust economics of one of Ecuador’s five strategic mining projects, with an updated feasibility study calculating the Loma Larga gold project’s aftertax net present value at $454-million and its internal rate of return at 28.3%. Developer INV Metals plans... 

GlobalData revises full-year copper output growth forecast lower

By: Simone Liedtke     Updated 4 hours ago Global copper production is expected to be impacted by the Covid-19 pandemic, with data analytics and consulting company GlobalData now forecasting output growth of just 1.9% to 21-million tonnes for this year. This compares with its previous forecast of 3.4% year-on-year growth in global copper... 

Caledonia defers approval of dividend declaration amid Covid-19 uncertainty

By: Tasneem Bulbulia     Updated 4 hours ago Owing to the uncertain business environment associated with the Covid-19 pandemic, dual-listed Caledonia Mining has deferred its approval of the declaration of the second quarterly dividend for this year.  The board will keep this decision under constant review as it monitors prevailing market... 

Wind IPPs given some clawback relief as Eskom issues surprise force majeure notices

By: Terence Creamer     Updated 5 hours ago In its force majeure notice to wind independent power producers (IPPs), Eskom has indicated that, should the system operator issue an instruction to a wind farm to reduce energy output during the period of the Covid-19 lockdown, the IPP would be granted an extension equivalent to the period of... 

Wind IPPs given some clawback relief as Eskom issues surprise force majeure notices

Worker at Russia's Nornickel vessel tested positive for coronavirus

By: Reuters     Updated 5 hours ago Russian nickel and palladium producer Norilsk Nickel said on Tuesday that a mechanic at one of its vessels tested positive for the coronavirus. Nornickel's Arctic port of Dudinka and Nornickel's production assets, located near the city of Norilsk of the Krasnoyarsk region, remain unaffected, the... 

Lucara takes steps to protect employees against Covid-19

By: Tasneem Bulbulia     Updated 6 hours ago Diamond producer Lucara Diamond Corporation has implemented a crisis management strategy to protect the health and wellbeing of its employees in Botswana and Canada amid the Covid-19 pandemic. Lucara's 100%-owned Karowe mine, in north central Botswana, remains fully operational under new measures... 

Botswana Diamonds awarded new prospecting licences

By: Tasneem Bulbulia     Updated 6 hours ago Dual-listed Botswana Diamonds’ wholly-owned subsidiary, Sunland Minerals, has been awarded six new prospecting licences by the Botswana government. The licence tenure is for a period of three years until March 31, 2023. 

Subsistence miners lose out as coronavirus crushes local gold prices

By: Reuters     Updated 6 hours ago Informal gold miners from South America to Africa are selling gold at almost 40% discounts as measures to curb the coronavirus crimp supply routes and dry up funding. Border restrictions and flight cancellations have created gold gluts in local markets, depressing prices for small-scale miners... 

Gem successfully hosts first flexible tender sales process

By: Marleny Arnoldi     Updated 6 hours ago London-listed Gem Diamonds has raised $12.1-million during the first round of its Letšeng flexible tender sales process on March 26. The Lesotho-focused miner in March launched the flexible tender sales process, following a large tender that had to be cancelled owing to travel and other... 

Gem successfully hosts first flexible tender sales process

Mantashe finds coal mines in various states of readiness to deal with Covid-19 

By: Marleny Arnoldi     Updated 6 hours ago Mineral Resources and Energy Minister Gwede Mantashe on March 31 conducted unannounced visits to three coal mines, in Mpumalanga, which supply coal to State-owned power utility Eskom. These mines included Glencore’s Impunzi colliery, Exxaro Resources' Matla Coal colliery and Seriti’s Kriel... 

Mantashe finds coal mines in various states of readiness to deal with Covid-19
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

Equinox sets 2020 guidance, aims for 1Moz in next two years

By: Creamer Media Reporter      Updated 6 hours ago TSX- and NYSE American-listed Equinox Gold on Tuesday provided a production and cost guidance for 2020, reflecting its production expectations following the recent closure of its merger with Leagold Mining. Total 2020 production, including gold produced by Leagold before completion of the merger... 

Teck details suspension impact on QB2 cost and schedule

By: Mariaan Webb     Updated 7 hours ago Construction activities at the Quebrada Blanca Phase 2 (QB2) copper project remain suspended, in line with the Chilean government’s efforts to curb the spread of coronavirus. Initially only a two-week suspension, construction activities are still on hold and Canadian diversified major Teck... 

Teck details suspension impact on QB2 cost and schedule
An October 2019 photo of construction activities at the QB2 project site.

Resources a key part to recovery - Minister

By: Esmarie Iannucci     Updated 7 hours ago Federal Resources Minister Keith Pitt said that the federal and state and territory governments were working to ensure that critical resources projects kept operating during the Covid-19 pandemic. “The Australian resources sector is a key part of the Australian economy. The commodities... 

Resources a key part to recovery - Minister

Gulf shares remain suspended amid market instability

By: Esmarie Iannucci     Updated 7 hours ago ASX-listed Gulf Manganese on Wednesday noted that its shares would remain suspended until the end of April this year, as the company works to complete the establishment of a financing facility for its ferromanganese processing hub at Kupang, in West Timor. The company told shareholders that the... 

OceanaGold's South Carolina mine remains open

By: Esmarie Iannucci     Updated 7 hours ago The Haile gold mine, in South Carolina, continues to operate despite an announcement by state government that all non-essential business shut down for a period of 14 days, dual-listed gold miner OceanaGold said on Wednesday. The company noted that under state guidelines, the status of the Haile... 

OceanaGold's South Carolina mine remains open

A grim economic forecast for South Africa from JP Morgan

By: Rebecca Campbell     Updated 7 hours ago US-based investment bank and financial services company JP Morgan Chase & Company (JP Morgan) has, in its latest weekly economic forecast for more than 40 countries and regions around the world, identified South Africa as one of the five countries likely to be the most severely hit by the... 

A grim economic forecast for South Africa from JP Morgan

Eskom gearing up to run philosophy maintenance ‘as a project’ following Covid-19 hiatus 

By: Terence Creamer     Updated 7 hours ago State-owned electricity producer Eskom is gearing up to implement philosophy maintenance as a centralised project across its unreliable coal fleet, where ongoing breakdowns have increased the risk of growth- and confidence-sapping load-shedding. The utility’s board has given its approval for the... 

Eskom gearing up to run philosophy maintenance ‘as a project’ following Covid-19 hiatus

Teck reduces coal output rate and suspends 2020 guidance

By: Mariaan Webb     1st April 2020 Notwithstanding the challenges related to the fast-spreading coronavirus, Canadian diversified miner Teck Resources president and CEO Don Lindsay on Wednesday reported that all the group’s operations remained in production, albeit on a reduced basis. The Vancouver-headquartered group announced... 

Teck reduces coal output rate and suspends 2020 guidance
Teck president and CEO Don Lindsay

Miner South32 files request for arbitration in Colombia royalty dispute

By: Reuters     1st April 2020 Mining company South32 has filed a request for arbitration at the World Bank over a dispute with Colombia concerning royalty payments from its majority-owned Cerro Matoso ferronickel mine, the company confirmed on Tuesday. In February the Andean country's comptroller opened an investigation... 

Bald Hill production ramps up

By: Esmarie Iannucci     1st April 2020 Bauxite miner Australian Bauxite is ramping up production to assist fertilizer production in Tasmania. The ASX-listed company on Wednesday said that it has started the delivery of 800 t of its special fertilizer bauxite as part of an ongoing contract to regularly supply bauxite to a fertilizer... 

Newcrest reaches 40% at Havieron

By: Esmarie Iannucci     1st April 2020 Gold major Newcrest Mining has taken a 40% stake in the Havieron gold project, in Western Australia, after reaching the Stage 2 of its farm-in agreement with London-listed Greatland Gold. Newcrest could earn up to a 70% interest in the Havieron joint venture by spending $65-million on the... 

Ramelius maintains production outlook

By: Esmarie Iannucci     1st April 2020 Gold miner Ramelius Resources has maintained its full year production guidance amid the Covid-19 pandemic, with the miner reporting the production of 51 825 oz of gold in the March quarter. The March quarterly production was within the guidance of between 50 000 oz and 55 000 oz, and up from the... 

South Australia forms export taskforce

By: Esmarie Iannucci     1st April 2020 The South Australian government has established an Export Recovery Taskforce to support exporters in the region through the COVID-19 pandemic. Minister for Trade and Investment, David Ridgway said the taskforce would work to identify impacts across export sectors and to coordinate government... 

Mahenge feasibility study confirms project's potential

By: Donna Slater     31st March 2020 Aim-listed investment group Armadale Capital reports that, in line with its recently completed definitive feasibility study (DFS), its wholly-owned south-east Tanzania-based Mahenge Liandu graphite project (Mahenge) is a large, long life, low cost graphite deposit with a focus on high-quality... 

Katoro Gold raises £215 000 in bid to continue uninterrupted work during Covid-19 disruptions

By: Donna Slater     31st March 2020 Gold exploration and development company Katoro Gold has raised £215 000 through the placing and subscription of 17.2-million new ordinary shares at 1.25p a share. This will provide the company with additional working capital and further bolster its ability to continue uninterrupted work on its... 

Covid-19 prompts Glencore to defer cash distribution, reinforce liquidity 

By: Martin Creamer     31st March 2020 The coronavirus pandemic has prompted global diversified mining and marketing company Glencore to defer its proposed $2.6-billion distribution of cash and reinforce its $10.1- billion liquidity through the refinancing and extension of revolving credit facilities on the same commercial terms as... 

Covid-19 prompts Glencore to defer cash distribution, reinforce liquidity
Ivan Glasenberg

Vale says resumption of lost capacity could be slowed

By: Reuters     31st March 2020 Brazilian mining company Vale said on Tuesday it was at risk of postponing the resumption of lost production capacity due to possible coronavirus-related delays in inspections, assessments and authorizations but that existing output so far had seen little impact. The risks, representing a fresh... 

Vale says resumption of lost capacity could be slowed

South Africa lockdown squeezes global chrome supply

By: Reuters     31st March 2020 Samancor Chrome, one of the world's biggest ferrochrome producers, has declared force majeure because of South Africa's 21-day coronavirus lockdown, removing further supply from global chrome markets. South Africa ordered all underground mines and furnaces be put on care and maintenance status... 

AfriTin suspends mining in Namibia, continues processing

By: Marleny Arnoldi     31st March 2020 Aim-listed AfriTin has partly suspended activity at its Uis mine, in Namibia, following the country’s declaration of a partial lockdown from March 27 to April 16. In Namibia’s legislation, mining operations are categorised as critical economic services and are able to continue minimum... 

AfriTin suspends mining in Namibia, continues processing
AfriTin's Uis tin mine, in Namibia

Power Metal Resources delays results to glean full impact of Covid-19

By: Tasneem Bulbulia     31st March 2020 Aim-listed Power Metal Resources (POW) will delay the publication of its audited financial results for the year ended September 30, 2019. At the request of the company’s auditors BDO and to reflect the time needed to implement newly introduced auditor protocols designed to ensure the impact of... 

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