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Australia's Metals X breaches loan covenants to focus on Tasmanian mine

By: Reuters Updated 7 minutes ago Australia's Metals X Ltd said on Friday it breached two financial covenants of a facility agreement with Citibank as it chose to go ahead with the development of the Renison tin mine in Tasmania. The tin producer said cash flows will be hit by its decision to develop the mine, which requires... →

Weekly Coal Index Report

Updated 13 minutes ago Almost all coal exporters are now looking to cut production quite significantly. Prevailing weak export markets, combined with fixed price take-or-pay rail and port contracts, are combining to ensure losses for almost every tonne mined now. Higher quality producers can retain a competitive edge... →

Incident halts Carosue Dam - Saracen

By: Esmarie Iannucci Updated 16 minutes ago Gold miner Saracen Mineral Holdings has suspended operations at its Carosue Dam operations, in Western Australia, following a ‘serious incident’ at the Dervish mine. The ASX-listed miner reported that an underground worker had fallen from a height. →

OceanaGold still fighting for Didipio

By: Esmarie Iannucci Updated 20 minutes ago Dual listed gold miner OceanaGold on Monday said that it had not received any formal order from the Philippines Court of Appeal regarding its plea to allow for the interim operation of the Didipio mine, while it challenges the legality of a stop order. The company in July applied for an... →

Alto raises funds for WA drilling

By: Esmarie Iannucci Updated 21 minutes ago Junior Alto Metals has announced plans to raise A$5.1-million to fund drilling at the Sandstone gold project, in Western Australia. The company on Monday said that the one-for-four accelerated pro-rata non-renounceable entitlement offer will be priced at 7c a share, representing a 6.67^... →

$550m deal signed at Northparkes

By: Esmarie Iannucci Updated 2 hours 25 minutes ago The owners of the Northparkes gold/copper mine, in New South Wales, has inked a $550-milion streaming agreement with Triple Flag Mining Finance Bermuda, a subsidiary of Triple Flag Precious Metals Corp. Under the terms of the agreement, Triple Flag Bermuda would make an up-front cash payment of... →

Galaxy extends offtake contract

By: Esmarie Iannucci Updated 2 hours 41 minutes ago Lithium miner Galaxy Resources has extended its existing offtake agreement with Yahua International Investment and Development Co by a further three years until the end of 2025. Yahua has an offtake for 120 000 t/y of high quality spodumene concentrate from Galaxy’s Mt Cattlin operation, in... →

Oil Search warns of impairments

By: Esmarie Iannucci Updated 2 hours 41 minutes ago ASX-listed Oil Search has warned of a non-cash impairment charge of between $360-million to $400-million for its interim results in 2020. The company on Monday told shareholders that the impairment charge took into account the prevailing economic conditions, the outlook for oil and gas prices... →

More Victorian gas exploration targeted

By: Esmarie Iannucci Updated 2 hours 42 minutes ago The Victorian government has awarded two new gas exploration permits off the state’s south-west coast, allowing Beach Energy and Bridgeport Energy to explore for gas. Minister for Resources Jaclyn Symes on Monday said that if initial exploration is successful, up to A$85-million could flow into... →

Platinum gets new lease in WA

By: Esmarie Iannucci Updated 3 hours ago Research done at Curtin University has developed a new method to extract platinum metal from ore, delivering an economically viable processing method for the Panton Sill platinum group metal (PGM) deposit, in Western Australia. The state government through the Minerals Research Institute of... →

Investors in mining exploration should be incentivised – ANC’s ETC

By: Martin Creamer Updated 3 hours ago Listings of mining companies on the Johannesburg Stock Exchange should be encouraged and South African retail investors willing to invest in mining exploration should be incentivised as is the case in other mining jurisdictions, the economic transformation committee (ETC) of the African National... →

Photo by Creamer Media
ANC document says mining exploration should be incentivised.

SSR Mining and Alacer shareholders approve combination

By: Mariaan Webb Updated 4 hours ago The shareholders of precious metals miners SSR Mining and Alacer Gold have approved their at-market merger, with only court approval still required for the transaction to close. On closing, each of Alacer’s shares will be exchanged for 0.3246 of an SSR common share. The transaction was approved... →

Workers at Antofagasta's Zaldivar copper mine in Chile vote to strike

By: Reuters Updated 4 hours ago Workers at Antofagasta Minerals's Zaldivar copper mine in Chile have voted in favour of strike action after rejecting a pay offer, the mine's union said on Friday. The union said in a statement that 99% of its members had rejected a collective pay offer and a strike had been set for July 15,... →

Nornickel suffers another fuel leak

By: Mariaan Webb Updated 4 hours ago Russian mining group Nornickel has suffered a fuel pipeline leak in the Arctic, a month-and-a-half after the company reported a major spill near the city of Norilsk. Nornickel said on Sunday that about 44.5 t of aviation fuel was spilled during the depressurisation of a pipeline belonging to... →

Nornickel brings equipment to Norilsk to pump out water and fuel mixture to clean up the May 29 fuel spill. The company has reported another fuel spill at the weekend.

Return of foreign mineworkers taking double planned time

By: Martin Creamer Updated 4 hours ago The return of the 12 500 foreign mineworkers to South Africa’s mines is taking double the time planned. The initial ten-day plan of Minerals Council South Africa has become a 20-day plan because of the need to overcome bottlenecks. →

Minerals Council South Africa Senior Executive: Environment, Health and Legacies Nikisi Lesufi

Ian McRae, who oversaw Eskom’s ‘electricity for all’ policy, dies

12th July 2020 The much respected former CEO of Eskom, Ian McRae, died in the early hours of Sunday morning July 12, 2020. He was 90 years old. Born in Germiston on September 24, 1929, Ian Campbell McRae started his career as an apprentice fitter and turner at Eskom. After qualifying he went on to obtain a... →

Eskom CEO Andre de Ruyter pays tribute to Dr Ian McRae, who died on July 12.

Pan African reports higher output, lower debt, upped guidance, intensified dividend intent

By: Martin Creamer 10th July 2020 Despite the challenges presented by the Covid-19 pandemic, Pan African Resources on Friday reported higher gold production, lower debt, good safety, environmental progress, project advances and intensified dividend intent. In an operational update for the year ended June 30, the London-,... →

Hydraulic mining of Pan African's surface tailings.

South Africa urged to recycle more of its copper scrap

By: Donna Slater 10th July 2020 Given limited domestic copper production, South Africa should prioritise the recycling of copper scrap to ensure there remains sufficient stock as the economy changes to be more energy efficient and less reliant on fossil fuels, Copper Development Association Africa (CDAA) executive chairperson... →

Chinese gold demand to remain strong regardless of pace of economic recovery, says the WGC

By: Marleny Arnoldi 10th July 2020 Gold has received more investment than all other major Chinese asset classes in the first half of this year, says the World Gold Council (WGC). In a WGC blog post, research manager Ray Jia says gold demand in China, particularly investment demand, has benefited from rising concerns about the... →

Zambia copper production rises to 342 734 t in first five months of 2020 – govt

By: Reuters 10th July 2020 Zambia's copper production increased to 342 734 t in the first five months of this year, from 330 024 t in the same period of 2019, the ministry of mines said on Thursday. Copper production was projected to continue rising in the third and fourth quarters of 2020 in line with rising prices driven... →

Indonesia group seeks judicial review over new mining law

By: Reuters 10th July 2020 A group made up of activists and regional officials submitted on Friday a request for a judicial review of Indonesia's mining law at the Constitutional Court, arguing there had been a failure of procedures before the law was approved by parliament in May. The group, which includes the governor... →

Barrick initiates ICSID conciliation proceedings over Porgera

By: Mariaan Webb 10th July 2020 Canadian gold major Barrick has initiated proceedings before the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) over Papua New Guinea’s decision not to extend a special mining lease (SML) for the Porgera joint venture (JV) mine. The company argues that the... →

Infrastructure at core of business’ R3.4-trillion economic recovery proposal

By: Terence Creamer 10th July 2020 Business for South Africa released an economic recovery strategy paper on July 10 that includes a list of 12 priority initiatives, many infrastructure-related, which the formation argues could bolster gross domestic product by R1-trillion, create up to 1.5-million jobs and increase yearly tax... →

B4SA paper says green-economy investments should be accelerated as part of infrastructure-led recovery

Minerals Council welcomes B4SA’s economic recovery strategy

By: Simone Liedtke 10th July 2020 Minerals Council South Africa has welcomed the accelerated economic recovery strategy published on July 10 by Business for South Africa (B4SA), which is aimed at achieving higher levels of inclusive economic growth to recover from the Covid-19 crisis and the economic crisis that preceded it.... →

Pan African board approves development of 10 MW solar plant at Elikhulu

By: Martin Creamer 10th July 2020 The board of gold-mining company Pan African has approved the development of a 10 MW solar photovoltaic project at the Elikhulu gold-from-tailings operation in Evander, Mpumalanga, the London-, Johannesburg- and now also New York-listed Pan African stated on Friday. Earlier this month, the... →

Photo by Creamer Media's Donna Slater
Gold pour at Elikhulu gold plant.

Hydrogen targeted in the NT

By: Esmarie Iannucci 10th July 2020 The Northern Australian government on Friday unveiled its first ever Renewable Hydrogen Strategy to exploit the global demand for clean energy. The strategy outlines a five point hydrogen plan under which the industry and government would work together to prepare industry capabilities and... →

Novagold responds to class-action firm, warns investors about JCAP 'scam'

By: Mariaan Webb 10th July 2020 Explorer and developer Novagold, which is suing short-selling firm J Capital Research (JCAP) for defamation, has responded to US law firm Hagens Berman, which is investigating whether the company has misled investors about the viability of its Donlin gold project, in Alaska. Hagens Berman said... →

The Donlin camp, in Alaska.

Adani Australia chief to step down as coal prices tank

By: Reuters 10th July 2020 Adani Enterprises' Australian CEO, Lucas Dow, will step down, the company said on Friday, as sinking coal prices add to climate change pressure to stretch the development timeline of a coal project in Queensland state. Dow, who joined the company in April 2018, steered the Carmichael mine and... →

Covid mine suspensions hit Endeavour Silver Q2 output

By: Mariaan Webb 10th July 2020 The mandatory suspension of Mexico’s mines in April and May is evident in Endeavour Silver’s second-quarter production results, with the Toronto- and New York-listed miner on Thursday reporting a 42% decrease in silver-equivalent production. The company produced 1.06-million silver-equivalent... →

Hardrock project achieves 'significant' permitting milestone

By: Mariaan Webb 10th July 2020 The C$1.25-billion Hardrock gold project, which miners Premier and Centera Gold jointly own, has achieved a “significant” permitting milestone, taking the long-life project one step closer to realisation. Toronto-listed Premier announced on Thursday that the joint venture (JV), Greenstone Gold... →

WA flagged as Australia battery destination

By: Esmarie Iannucci 10th July 2020 Western Australia has been tipped as the prime location for a battery cathode active material (CAM) manufacturing destination, according to a new report. The report, commissioned by the Department of Industry, Innovation and Science, pointed out that Australia currently produced nine of the ten... →

Great Panther mines return to stable production

By: Creamer Media Reporter 10th July 2020 Gold and silver mining company Great Panther Mining’s mines in Mexico have returned to stable production, following the lifting of government mandated restrictions on mining, and in Brazil, its Tucano mine has “outperformed” despite the challenges of the global health pandemic. The dual-listed... →

Monarch inks MoU with Ontario Northland for Wasamac ore transport

By: Mariaan Webb 10th July 2020 Toronto-listed Monarch Gold is studying the use of freight rail operator Ontario Northland Railway’s infrastructure to move ore from its Wasamac gold project, in Val d’Or, Quebec, to Glencore Canada’s Kidd concentrator, in Timmins, Ontario. The company has entered into a memorandum of... →

BFS affirms 'compelling' opportunity at Crown Mountain

By: Esmarie Iannucci 10th July 2020 A bankable feasibility study (BFS) into the Crown Mountain coking coal project, in British Columbia, has found that the project could produce an average of 1.7-million tonnes a year of saleable coal and 57.5-million tonnes a year run-of-mine coal over a mine life of 15 years. ASX-listed Jameson... →

The Crown Mountain project, in the Elk Valley coal field in south eastern British Columbia.

Chesser raises cash for Senegal project

By: Esmarie Iannucci 10th July 2020 Gold explorer Chesser Resources will raise A$6-million to fund large-scale drilling at the Diamba Sud gold discovery, in Senegal. The company has received firm commitments from institutional and sophisticated investors for the placement of 75-million shares, at a price of 8c each. →

New copper record for Red River

By: Esmarie Iannucci 10th July 2020 Base metals miner Red River Resources has reported record copper production for the three months to June at its Thalanga operation, in Queensland, while zinc and lead production remained consistent with the previous quarter. Copper concentrate production in the fourth quarter reached 2 697 t,... →

Red Metal readies for exploration drive

By: Esmarie Iannucci 10th July 2020 Explorer Red Metal will raise A$3-million through a share placement to fund drilling at its projects across Australia. The company on Friday said it had received firm commitments for the placement of more than 33.33-million shares, at a price of 9c each, from institutional and professional... →

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