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Mining News

Mining well placed to maintain healthy profits despite pandemic impacts, says Stanlib

By: Marleny Arnoldi 18th September 2020 Asset manager Stanlib says the scars from a blow-out of corporate bond yields and indebted miners finding themselves on the brink of collapse have ultimately introduced good balance sheet and operational discipline into the sector. This included rationalising growth plans and consolidating... →

Glencore welcomes Australian govt's investments for clean future

By: Marleny Arnoldi 18th September 2020 Diversified miner Glencore has welcomed the Australian federal government’s decision to invest A$1.9-billion in a suite of new and emerging energy technology to position the country for a low-emission future. To this end, metals and minerals will play a key role in the global transition to a... →

High Court ruling underscores requirement for mining right applicants to consult community

By: Donna Slater 18th September 2020 A recent High Court ruling underscores the more stringent requirements in recent amendments to the Mineral and Petroleum Resources Development Act (MPRDA) for mining right applicants to consult with community members, says law firm Webber Wentzel. The firm points out that, on September 11, the... →

European benchmark ferrochrome price remains at $1.14/lb for the fourth quarter

By: Tasneem Bulbulia 18th September 2020 The European benchmark ferrochrome price for the fourth quarter has been settled at $1.14/lb, a rollover from the third quarter, JSE-listed Merafe Resources said on September 18. In July, Mining Weekly reported that the European benchmark ferrochrome price for the third quarter had been settled... →

Sibanye Gold exercises option on $450m convertible bonds

By: Donna Slater 18th September 2020 Precious metals miner Sibanye-Stillwater’s wholly-owned subsidiary Sibanye Gold on September 18 exercised its option on its $450-million, 1.875 per cent convertible bonds due 2023 in line with the terms and conditions to redeem all outstanding bonds on October 19 at their principal amount. This... →

Nersa to learn next week if tariff-raising Eskom judgment can be appealed

By: Terence Creamer 18th September 2020 High Court Judge Fayeeza Kathree-Setiloane will decide next week whether to grant the National Energy Regulator of South Africa leave to appeal her July 28 judgment, which found the regulator’s decision to deduct a R69-billion equity injection into Eskom from its allowable revenue for the period... →

GlobalData expects 1.7% drop in gold output this year

By: Marleny Arnoldi 18th September 2020 The suspension of mining activity owing to Covid-19 restrictions around the world in the second quarter of the year will result in a 1.7% decline in global gold production this year, says data and analytics company GlobalData. It expects almost all top gold producers in key markets, including... →

Minerals Council welcomes call to rebuild the South African economy

By: Tasneem Bulbulia 18th September 2020 Industry body the Minerals Council South Africa has welcomed President Cyril Ramaphosa’s address this week announcing the further lifting of restrictions with the shift in the country’s Covid-19 status to Level 1 from September 20. The Minerals Council says it also shares the view of the... →

Polymetal's biggest shareholder raises $443m from 4% stake sale

By: Reuters 18th September 2020 Russian gold and silver producer Polymetal's biggest shareholder has raised £342-million from the sale of a 4% stake in the company through an accelerated book building (ABB), a bookrunner said on Friday. IST Group, owned by businessman Alexander Nesis, sold 19-million shares in Polymetal, it... →

Papillon making ‘good progress’ towards completing Mayflower transaction

By: Simone Liedtke 18th September 2020 London-listed investment company Papillon Holdings is making “good progress” towards completing the transaction agreement with Mayflower Capital Investments, which will result in the company acquiring some or all the interest of two gold assets located in Kenya and Congo-Brazzaville. The company... →

Gemfields seeking alternatives to auctions

By: Simone Liedtke 18th September 2020 Gemstone miner Gemfields says it is unable to provide guidance as to when it might be able to host its next auction, or generate meaningful revenue from sales, with its financial results for the first half of this year, ended June 30, reflecting the "immense impact” of the Covid-19 pandemic and... →

Iron ore snaps three-day slump as pace of China port inventory growth slows

By: Reuters 18th September 2020 ron-ore futures snapped three sessions of losses on Friday after industry data showed that the pace of portside inventory rise of the steelmaking ingredient in China slowed this week, while benchmark contracts were set for weekly losses. The most-traded January 2021 contract of iron ore on the... →

Australia's Whitehaven Coal calls to reject investor resolution on climate change

By: Reuters 18th September 2020 Whitehaven Coal on Friday urged its shareholders to vote against a resolution at its annual general meeting that pushed for disclosing a plan annually on how it would meet certain goals of the Paris Agreement on climate change. Australia's biggest independent coal miner called the resolution,... →

Ardea taps the market for funding

By: Esmarie Iannucci 18th September 2020 Junior Ardea Resources has received commitments to raise A$3.5-million through a share placement priced at 47c a share, to fund exploration work. The company will place more than 7.44-million shares under its existing placement capacity, to sophisticated and professional investors. →

TomaGold sells remaining 25% of Monster Lake stake to Iamgold

By: Creamer Media Reporter 18th September 2020 Listed miner Iamgold will buy the remaining 25% of the Monster Lake project, in the Chibougamau mining camp, Quebec, from TSX-V-listed TomaGold in an C$8.5-million cash-and-share transaction. The Monster Lake project comprises the Monster Lake, Winchester and Lac à l’eau jaune properties in the... →

Magmatic eyes Moorefield demerger

By: Esmarie Iannucci 18th September 2020 ASX-listed Magmatic Resources on Friday announced the demerger of its wholly owned subsidiary Australian Gold and Copper (AGC), which will hold the Moorefield gold project, in New South Wales. Furthermore, ACG has also entered into a binding term sheet with New South Resources to acquire two... →

Renascor shakes the tin for exploration work

By: Esmarie Iannucci 18th September 2020 Graphite developer Renascor Resources will raise A$3.6-million to fund work streams at its Siviour battery anode materials project and at its Carnding gold project, in South Australia. More than 324.8-million shares will be issued at a price of 1.1c each, along with one free attaching option... →

Anglo Australian raises cash

By: Esmarie Iannucci 18th September 2020 Gold and base metals explorer Anglo Australian Resources will raise A$11-million in a single tranche placement to fund exploration at the Mandilla gold project, in Western Australia. Anglo Australian will issue some 64.7-million shares, at a price of 17c each to sophisticated and professional... →

Pacifico fully funded to FID

By: Esmarie Iannucci 18th September 2020 ASX-listed Pacifico Minerals will raise A$12-million through a share placement and share purchase plan (SPP), allowing the company to complete a definitive feasibility study (DFS) and take a final investment decision at its Sorby Hills lead/silver/zinc project, in Western Australia. Pacifico on... →

Carmichael delivers on jobs

By: Esmarie Iannucci 18th September 2020 The Carmichael coal mine, in Queensland, is on track to produce its first coal in 2021, with Indian major Adani revealing that employment numbers at the project have reached more than 1 500. Adani Mining CEO David Boshoff said the Covid-19 recession meant Adani’s investment was needed more than... →

Cybersecurity has to remain ‘front of mind’ for miners, says panel

By: Simone Liedtke 18th September 2020 As the world becomes more connected through information technology (IT) and operational technology (OT), ABB local division manager for mining solutions John Manuell warns that cybersecurity will need “to remain front of mind”. With the advent and increasing use of digital technologies,... →

Bullish sentiment about PGMs sector’s immediate outlook, long-term potential

By: Nadine James 18th September 2020 Speakers at the September 9 virtual 2020 PGMs Industry Day, hosted against the backdrop of historically high prices for certain platinum-group metals (PGMs), seemed cautiously optimistic about the immediate outlook for, and long-term potential of, the PGMs sector. The event, organised by... →

Kinross production to grow 20% by 2023, declares dividend

By: Mariaan Webb 17th September 2020 Canada-headquartered gold miner Kinross will grow its production by half-a-million gold-equivalent ounces (GEO), or about 20%, over the next three years, CEO Paul Rollinson said on Thursday, as he also announced the group's first quarterly dividend in a number of years. Production is forecast to... →

Former Detour Gold COO becomes Harte Gold CEO

By: Creamer Media Reporter 17th September 2020 Ontario gold miner Harte Gold on Thursday announced the appointment of former Detour Gold COO Frazer Bourchier as CEO with effect from September 21, succeeding Sam Coetzer, who is stepping down as president and CEO for personal reasons. The company also announced that COO Martin Raffield would... →

Canada invests in active clay analyser for mining industry

By: Mariaan Webb 17th September 2020 Canada’s Natural Resources Minister Seamus O’Regan on Thursday announced a C$1.6-million investment for the development of an active clay analyser for the mining industry. Led by the Saskatchewan Research Council with Suncor Energy and the Northern Alberta Institute of Technology as partners,... →

Seamus O'Regan

Equinox Gold completes Phase 1 construction at Castle Mountain

By: Creamer Media Reporter 17th September 2020 Construction of Phase 1 at the Castle Mountain gold mine, in California, is complete and the first gold pour is expected in the fourth quarter, dual-listed Equinox Gold reported on Thursday. Equinox started preproduction mining in early June and has stacked more than 1.4-million tonnes of ore on... →

‘No politics’ in Pebble review, says Trump

By: Mariaan Webb 17th September 2020 TSX- and NYSE American-listed Northern Dynasty’s stock rose sharply on Thursday, after US President Donald Trump vowed that there would be “no politics” in the review process of the Pebble copper/gold mine in Alaska. “Don’t worry, wonderful and beautiful Alaska, there will be no politics in the... →

IPP Office says next renewables bid window by end Jan ‘latest’, but possibly before year-end

By: Terence Creamer 17th September 2020 The head of South Africa’s Independent Power Producer (IPP) Office, which performs the IPP procurement function on behalf of the Department of Mineral Resources and Energy (DMRE), says discussions are under way with the department to finalise the roll-out plan for the Section 34 determination... →

'Nobody has done anything': Amazon indigenous group decries illegal mining

By: Reuters 17th September 2020 An Amazon indigenous group that earlier turned away a planned hydroelectric dam is now battling a surge of illegal gold mining in its territory during the Covid-19 pandemic, a tribal activist said. The Sawré Muybu territory of the Munduruku indigenous people, in Brazil's Pará state, has not been... →

Consultant emphasises importance of galvanised steel sheeting to avoid structural failures

By: Simone Liedtke 17th September 2020 Galvanised steel sheeting can help to avoid structural failure of buildings through generally assisting with the prevention of white rust, or wet storage stains, says civil engineering and galvanising consultant Terry Smith. Continuous sheet galvanising is a hot-dip process, but is only applied... →

WEF White Paper highlights human rights fragility in DRC's artisanal mining sector

By: Donna Slater 17th September 2020 Human rights abuses associated with artisanal cobalt mining in the Democratic Republic of Congo (DRC) are highlighted in the World Economic Forum’s (WEF’s) 'Making Mining Safe and Fair: Artisanal cobalt extraction in the DRC' White Paper, published in September. Amnesty International business,... →

Egoli likely to be S Africa’s least complicated underground gold mine – Pan African

By: Martin Creamer 17th September 2020 What is expected to be South Africa’s least complicated underground gold mine is on the way at Evander, Mpumalanga, in the form of the Egoli gold project. Planning to bring the low-capital quick-return project to life is Pan African Resources, the London-, Johannesburg- and New York-listed... →

Mining Weekly’s Martin Creamer interviews Pan African Resources CEO Cobus Loots. Video: Darlene Creamer.

Report says mining industry has ‘huge SDG potential’, but laments lack of action

By: Simone Liedtke 17th September 2020 The mining industry, which has a significant role to play in contributing to and achieving the United Nations Sustainable Development Goals (SDGs), is falling short, according to a new report by the Responsible Mining Foundation and Columbia Centeron Sustainable Investment, titled 'Mining and the... →

FQM’s Zambian copper mine exceeds production targets

By: Simone Liedtke 17th September 2020 Canadian metals and mining company First Quantum Minerals’ (FQM’s) Sentinel openpit copper mine, in Zambia, has exceeded its production targets for July and August. This strong performance was attributed to consistent milling rates and better-than-expected grades in August, the company said in a... →

Energy transition to have transformative effect on mining sector

By: Tasneem Bulbulia 17th September 2020 Climate change and environmental and social governance (ESG) will transform the energy industry risk landscape, said global advisory, broking and solutions company Willis Towers Watson at the launch of its yearly Mining Risk Review on September 17. It noted that this transformation was taking... →

Kibo settles convertible loan note, raises £1.45-million

By: Tasneem Bulbulia 17th September 2020 Coal and energy company Kibo Energy has settled all outstanding amounts due under the convertible loan note (CLN) announced on June 25, and has reached agreement with the holders of the CLN to terminate the CLN with immediate effect. Moreover, the company has undertaken a successful placing to... →

Teck switches to renewables at Chile copper mine

By: Mariaan Webb 17th September 2020 Canadian miner Teck Resources on Thursday announced that it would switch to renewable power at its Carmen de Andacollo copper mine, in Chile. Chilean affiliates, Compañía Minera Teck Carmen de Andacollo (CdA) and AES Gener entered into a long-term power purchase agreement to provide 100%... →

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