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Mining News

Teck looks to boost Chinese coal sales amid stalled Australian shipments

By: Reuters     Updated 3 minutes ago Canada's Teck Resources looks to boost shipments of steelmaking coal to China next year, CEO Don Lindsay said on Tuesday, hoping to take advantage of unofficial curbs on Australian imports that have stranded dozens of shipments. China has unofficially banned Australian coal imports since October... 

Oyu Tolgoi board orders independent review of cost overruns

By: Mariaan Webb     Updated 3 hours ago An independent firm of experts is set to review the cost overruns and delays experienced at the Oyu Tolgoi underground project, in Mongolia, Rio Tinto-controlled Turquoise Hill announced on Tuesday. The board of Oyu Tolgoi, 66% owned by Turquoise Hill and 34% by State-owned Erdenes Oyu Tolgoi... 

Oyu Tolgoi board orders independent review of cost overruns

Ivanhoe secures funding to buy underground mining equipment for Kamoa-Kakula

By: Creamer Media Reporter      Updated 4 hours ago Kamoa Holding, the joint venture (JV) company holding the Kamoa-Kakula copper project, in the Democratic Republic of Congo, has secured an equipment financing facility of up to €176-million (about $211-million), along with a $9-million down-payment facility. The two facilities will be used to buy... 

Proposed expansion moves Copper Mountain to $1bn asset value

By: Mariaan Webb     Updated 4 hours ago TSX- and ASX-listed Copper Mountain Mining has announced a new life-of-mine (LoM) plan, which includes a proposed mill expansion to 65 000 t/d, for its 75%-owned namesake mine in southern British Columbia. The new LoM plan increases Copper Mountain’s aftertax net present value by more than 60%... 

Proposed expansion moves Copper Mountain to $1bn asset value

Sandfire sets its sights on building a new copper production hub in Botswana

By: Donna Slater     Updated 4 hours ago ASX-listed Sandfire Resources has taken the decision to proceed with the $259-million development of the T3 Motheo copper/silver project, in Botswana, following the completion of a positive definitive feasibility study (DFS) on a base case 3.2-million-tonne-a-year operation, with "clear... 

Platinum jewellery performs well in the third quarter

By: Tasneem Bulbulia     Updated 4 hours ago Platinum jewellery performed well in the four key international platinum jewellery markets of China, India, Japan and the US in the third quarter, Platinum Guild International's (PGI’s) Platinum Jewellery Business Review (PJBR) for the period has found,. During the quarter under review, China’s... 

Diamcor Mining remains focused, despite Covid-19 impacts

By: Simone Liedtke     Updated 4 hours ago With the onset of the global Covid-19 pandemic, Diamcor Mining remained focused on reducing costs, operational planning for the resumption of operations and continued strengthening of the core operational management team during the six months to September 30. Despite the effects of the pandemic,... 

New hydrogen investment by PGMs-linked venture fund bodes well for South Africa 

By: Martin Creamer     Updated 5 hours ago A new investment in hydrogen, made by the sustainability-focused AP Ventures, bodes well for South Africa. AP Ventures, an independent venture capital fund that invests in early-stage companies that use platinum group metals (PGMs), has invested €5-million equity in HPNow, which has introduced a... 

New hydrogen investment by PGMs-linked venture fund bodes well for South Africa
Building back better with green hydrogen peroxide.

Nornickel to sell less palladium, nickel than it produces in 2020 - head of sales

By: Reuters     Updated 5 hours ago Russia's Norilsk Nickel will sell slightly less nickel and palladium than it produces in 2020 as the Covid-19 pandemic reduced industrial demand, the world's leading producer of the two metals told Reuters. Demand has risen in some sectors since a slump caused by the first wave of the pandemic... 

Lack of publicly available cadastre impeding future mining potential – Miller 

By: Donna Slater     Updated 6 hours ago The South African junior mining, and particularly prospecting, sector will continue its rapid degradation if the Department of Mineral Resources and Energy (DMRE) continues to refuse to publicly release information pertaining to national mining and prospecting rights, says mining supply sales... 

Lack of publicly available cadastre impeding future mining potential – Miller
Photo by Creamer Media
AmaranthCX director Paul Miller

First gold comes out of Scotland's Cononish mine

By: Mariaan Webb     Updated 7 hours ago London-listed Scotland Resources has poured first gold at its Cononish gold and silver mine, marking a significant milestone on its path to becoming Scotland’s first commercial gold mine. Production at Cononish, in the Scottish Grampian mountains, will ramp up to design level early in the New... 

First gold comes out of Scotland's Cononish mine

Metal prices expected to average higher in 2021 amid recovery from Covid-19 – Fitch Solutions

By: Donna Slater     1st December 2020 Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) expects miners and metal producers to experience a more favourable pricing environment in 2021 with nearly all mineral and metal prices forecast to average higher on a... 

Platinum jewellery performs well in the third quarter

By: Tasneem Bulbulia     1st December 2020 Platinum jewellery performed well in the four key international platinum jewellery markets of China, India, Japan and the US in the third quarter, Platinum Guild International (PGI)’s Platinum Jewellery Business Review (PJBR) for the period has found,. During the quarter under review, China’s... 

Tirupati progresses LSE listing plans

By: Tasneem Bulbulia     1st December 2020 Graphite and graphene producer Tirupati Graphite’s prospectus has been approved by the Financial Conduct Authority (FCA) and published on December 1. The prospectus relates to the admission of the company's ordinary shares to the standard listing segment of the official list of the FCA and to... 

Pilbara's play for Pilgangoora becomes official

By: Esmarie Iannucci     1st December 2020 Lithium miner Pilbara Minerals has entered into a share sale agreement with the administrators of fellow listed Altura Mining to gain ownership of Altura’s Pilgangoora lithium project, in Western Australia, for $175-million. The ASX-listed Pilbara Minerals has also proposed a deed of company... 

Glencore’s takeover of Orsted LNG effective

By: Marleny Arnoldi     1st December 2020 Diversified miner Glencore on December 1 completed the acquisition of Danish multinational power company Orsted’s liquefied natural gas (LNG) business. Under the terms of the transaction, Glencore’s oil division has taken over a number of LNG supply contracts, as well as the right to use... 

Glencore’s takeover of Orsted LNG effective
Photo by Bloomberg
LNG carrier

Qld invests heavily in jobs, hydrogen and mining

By: Esmarie Iannucci     1st December 2020 The Queensland resources sector has committed to working with the state government to support economic recovery post the Covid-19 pandemic, as the government released its 2020-21 Budget. Treasurer and Minister for Investment Cameron Dick on Tuesday revealed Queensland would be the only state,... 

De Beers sets goal to become carbon-neutral by 2030 

By: Donna Slater     1st December 2020 Diamond miner De Beers on November 30 launched its 12 Building Forever goals, which focus on ethical practices across the diamond industry, partnering to boost communities, putting in place structures to protect the natural world and accelerating equal opportunity. The 12 “ambitious”... 

De Beers sets goal to become carbon-neutral by 2030
De Beers Group CEO Bruce Cleaver

Minerals and gas potential in NT highlighted

By: Esmarie Iannucci     1st December 2020 The final report from the Territory Economic Reconstruction Commission (TERC) has found that a step change in the level of private investment would be required to fuel economic growth and jobs in the Northern Territory. Both mineral resources and gas have been tapped to play a major part in the... 

Rio Tinto faces threat of legal action from investor in Mongolian project

By: Reuters     1st December 2020 Rio Tinto said on Tuesday that it would not offer any comment in response to a threat of legal action from the largest minority shareholder in its Mongolian copper project Oyu Tolgoi. Rio Tinto operates what is slated to become the world's third-largest copper mine which is jointly owned by the... 

Rio Tinto faces threat of legal action from investor in Mongolian project

Canada extends security review of Shandong’s TMAC buy

By: Mariaan Webb     1st December 2020 Canada has extended the national security review of China-based Shandong Gold’s acquisition of TMAC Resources by a further 45 days, the Toronto-listed takeover target reported on November 27. Shandong has offered C$230-million for struggling TMAC, throwing a lifeline to the Hope Bay property in... 

Feasibility study, PEA map out plans for Platreef over the next five years

By: Marleny Arnoldi     1st December 2020 TSX-listed Ivanhoe Mines says its South African subsidiary Ivanplats has shared positive findings in its independent Platreef ‘Integrated Development Plan (IDP) 2020’. The plan encompasses an updated feasibility study and preliminary economic assessment (PEA) for the tier-one platinum,... 

First Quantum declares reserve at Taca Taca

By: Creamer Media Reporter      1st December 2020 Canadian miner First Quantum has declared a reserve estimate for its Taca Taca copper/molybdenum/gold project, in Salta, Argentina. The proven and probable mineral reserve has been estimated at 1.75-billion tonnes of ore, grading 0.44% copper for 7.7-million tonnes of contained copper, 213 500 t... 

INPEX moves away from Fifo

By: Esmarie Iannucci     1st December 2020 Japanese liquefied natural gas (LNG) producer INPEX has reportedly announced plans to halt fly-in, fly out (Fifo) operations in both the Northern Territory and Western Australia, requiring its workforce to move to those states by 2023. INPEX VP of corporate coordination, Bill Towsend, was... 

Lundin copper output to rise by 25% next year

By: Mariaan Webb     1st December 2020 Base metals producer Lundin Mining is forecasting a big jump in copper production next year, driven by higher grades at the Candelaria mine and full-year uninterrupted contributions from Candelaria and Chapada. The Toronto-listed miner said that its copper production should increase by 25% in... 

Lundin copper output to rise by 25% next year

PTM raises $12m for Waterberg predevelopment, other purposes

By: Simone Liedtke     1st December 2020 TSX- and NYSE-listed Platinum Group Metals (PTM) has sold more than 5.4-million common shares in the capital of the company for gross proceeds of $12-million though an at-the-market offering of common shares. Initially announced on September 4, the offering was completed on November 30. 

Syrah's vertical integration plans take shape

By: Esmarie Iannucci     1st December 2020 A bankable feasibility study (BFS) into the expansion of ASX-listed Syrah Resource’s active anode material (AAM) production facility in Vidalia, in the US, has confirmed the positive economics for commercial scale natural graphite AAM production at the facility in Louisiana. Syrah on Tuesday... 

Tianqi Lithium gets one-month reprieve on $1.9bn loan repayment

By: Reuters     1st December 2020 China's Tianqi Lithium said on Monday it had signed a letter with a syndicate of banks to extend by a month the maturity date on $1.884-billion of loans that were due for repayment at the end of November. Tianqi, one of the world's top producers of lithium chemicals used in electric-vehicle... 

Antofagasta's Centinela union rejects contract offer, opens door to strike

By: Reuters     1st December 2020 A union at Antofagasta Minerals' Centinela copper mine in Chile rejected a contract offer from the company on Monday, paving the way for a strike at the small deposit, its president told Reuters. Under Chilean law, once a union approves a strike, the parties then attend five days of... 

Colombia coal production down 47% year-on-year in Q3

By: Reuters     1st December 2020 Coal production in Colombia, the world's fifth-largest exporter of the fuel, fell 47.2% in the third quarter amid a national coronavirus lockdown and an ongoing strike at a major mine, according to Reuters calculations using government figures released on Monday. The South American country... 

Hot Chili raises A$25.6m for Chilean project

By: Esmarie Iannucci     1st December 2020 Copper/gold developer Hot Chili has raised A$25.6-million in an institutional placement to fund payment of the Corteda copper/gold discovery and to accelerate drilling work. The company on Tuesday said that it has arranged for the placement of 609.8-million shares, at an issue price of 4.2c each... 

More diamonds sold from Lulo

By: Esmarie Iannucci     1st December 2020 Diamond miner Lucapa has generated a further A$9-million in revenue from the sale of diamonds from its Lulo mine, in Angola. The ASX-listed company on Tuesday revealed that 4 269 ct of Lulo diamonds have been sold at average prices of A$2 100/ct, with sales in the year-to-date reaching... 

Chalice targets A$100m capital raise

By: Esmarie Iannucci     1st December 2020 ASX- and TSX-listed Chalice Gold Mines has unveiled plans to raise A$100-milllion through an institutional placement and share purchase plan (SPP) to accelerate exploration activities and deliver a mineral resource and mining studies for the Julimar nickel/copper/platinum project, in Western... 

Australian Vanadium inks battery MoU

By: Esmarie Iannucci     1st December 2020 ASX-listed Australian Vanadium has inked a memorandum of understanding (MoU) with Singapore-based vanadium redox flow battery (VRFB) manufacturer V-Flow Tech. The non-binding MoU includes the potential development of vanadium pentoxide offtake agreements to support global battery sales by V-Flow... 

First ore at Eliwana expected this week

By: Esmarie Iannucci     1st December 2020 Iron-ore miner Fortescue Metals is on track to deliver first ore into its Eliwana plant later this week, while first ore on train is scheduled for later this month. Fortescue COO Greg Lilleyman told the Global Iron and Steel Forecast that the Eliwana railway line was progressing well, with the... 

South Flank on target - BHP

By: Esmarie Iannucci     1st December 2020 Construction of BHP’s South Flank mine, in the Pilbara, is some 84% complete, project manager Simon Thomas told the Global Iron and Steel Forecast conference. Thomas on Tuesday said that first production from the $3.6-billion South Flank operation was still targeted for mid-2021, however,... 

WA lithium miners given tax reprieve

By: Esmarie Iannucci     1st December 2020 The resources sector has welcomed the Western Australian government’s temporary assistance to three lithium mineral producers in the state, to support spodumene concentrate production and to protect jobs in the region. Mines, Petroleum and Energy Minister Bill Johnston has announced that Galaxy... 

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