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Mining News

Fitch Solutions forecasts higher iron-ore price on the back of strong Chinese demand

By: Simone Liedtke     6th May 2021 Research agency Fitch Solutions Country Risk and Industry Research has revised its iron-ore price forecast for this year higher to an average of $160/t, from its previous forecast of $120/t, as exceptionally strong demand from the Chinese and global steel industry contributed to prices breaking... 

EU leaders want to challenge perceptions of lithium mining

By: Reuters     6th May 2021 Environmental worries have boosted anti-lithium sentiment across Europe and EU officials say it is crucial to show local populations that mining the metal used in electric car batteries is no longer a "dirty operation". Tapping European deposits of lithium is an important part of the bloc's... 

Ganfeng agrees takeover of Bacanora in $264.5m deal

By: Reuters     6th May 2021 China's Ganfeng Lithium, one of the world's top lithium producers, on Thursday said it had offered to buy the shares it does not already own in Mexico-focused Bacanora Lithium for up to 190-million pounds ($264.5-million). The deal, which values Bacanora at up to around 267-million pounds,... 

Ganfeng agrees takeover of Bacanora in $264.5m deal

Anglo hails resilient performance

By: Tasneem Bulbulia     6th May 2021 Diversified miner Anglo American continues to generate healthy cash flows that it is using to re-invest in the business and deliver sustainable cash returns, chairperson Stuart Chambers said during the group’s annual general meeting (AGM) on May 5. He highlighted the group’s resurgence, noting a... 

Anglo hails resilient performance
Anglo American chairperson Stuart Chambers

Platinum demand growth to be bolstered by FCEVs, says WPIC

By: Simone Liedtke     6th May 2021 Platinum in fuel cell electric vehicles (FCEVs) is a growing demand sector for platinum, with wider adoption dependent on the availability of an accessible hydrogen refueling network, says the World Platinum Investment Council (WPIC) in its latest newsletter on May 5. This FCEV growth is coming... 

Rio Tinto shareholders vote in favour of remuneration policy at AGM

By: Reuters     6th May 2021 A majority of Rio Tinto's shareholders rejected the global miner's executive pay packages on Thursday, in a backlash over its destruction last year of ancient rock shelters in Western Australia. Rio Tinto blasted 46 000-year-old rock shelters at Juukan Gorge last May to expand an iron-ore mine,... 

Rio Tinto shareholders vote in favour of remuneration policy at AGM

Shareholders to get more of silver miner Hecla’s cash flow

By: Mariaan Webb     6th May 2021 NYSE-listed Hecla Mining has hiked its silver-linked dividend by 50%, reflecting the miner’s confidence in its cashflow performance and position as the US’ largest silver producer. The company on Wednesday announced that the silver-linked dividend would be increased by $0.01 a year for each $5... 

Sibanye-Stillwater’s first-quarter earnings increase despite Covid-19 disruptions

By: Donna Slater     6th May 2021 JSE- and NYSE-listed precious metals miner Sibanye-Stillwater says the start of this year has been “extremely positive”, with the operational momentum being carried over from the fourth quarter of 2020 as operations started to normalise after the Covid-19-inflicted disruptions of earlier in that... 

Sibanye-Stillwater’s first-quarter earnings increase despite Covid-19 disruptions
Photo by Creamer Media's Donna Slater
Sibanye-Stillwater CEO Neal Froneman

Gold Fields on track to deliver on guidance

By: Martin Creamer     6th May 2021 Notwithstanding the impact of Covid-19, gold mining company Gold Fields produced attributable equivalent gold production of 541 000oz, which was largely flat year-on-year and down 9% quarter-on-quarter. The Johannesburg- and New York-listed company stated on Thursday, when it provided an... 

Gold Fields on track to deliver on guidance
Photo by Creamer Media
Gold Fields CEO Chris Griffith

Coronado completes first part of placement

By: Esmarie Iannucci     6th May 2021 Coal producer Coronado Global Resources has completed the institutional component of its 1-for-4.73 pro-rata accelerated non-renounceable entitlement offer, raising $87-million. The ASX-listed company on Thursday said that existing institutional holders had strongly supported the institutional... 

Ardiden weighs lithium asset sale

By: Esmarie Iannucci     6th May 2021 Junior gold explorer Ardiden has agreed to an exclusive option with Great Northern Lithium to potentially sell 80% of its lithium portfolio in a deal worth A$8.7-million. “Ardiden has been actively evaluating strategic options to best realise the full potential of its lithium assets. The... 

Dig-free option for mining unearthed

By: Esmarie Iannucci     6th May 2021 A new mining technique that uses electric fields to extract metals from hard rock ore has been unveiled by researchers from the University of Western Australia (UWA), the Commonwealth Scientific and Industrial Research Organisation (CSIRO), the Technical University of Denmark and the University... 

Tropicana sale goes ahead

By: Esmarie Iannucci     6th May 2021 The Western Australian Minister for Mines and Petroleum has given consent for gold miner Regis Resources to acquire a 30% interest in the Tropicana gold project, clearing the transaction of all conditions precedent. Regis in April struck a A$903-million agreement with fellow-listed Independence... 

Lucara secures $220m for Botswana diamond mine expansion

By: Mariaan Webb     6th May 2021 Canadian miner Lucara Diamond Corp has secured credit-approved commitments for senior debt facilities of up to $220-million to fund the underground expansion of its Karowe mine that will allow the operation to continue until at least 2040. The facilities will include project financing of... 

Lucara secures $220m for Botswana diamond mine expansion
Lucara operates the Karowe mine, in Botswana.

As prices soar, Taseko may develop Arizona copper project without a JV partner

By: Mariaan Webb     6th May 2021 At current copper prices, miner Taseko may choose to develop the $230-million commercial production facility at its Florence project, in Arizona, without a joint venture (JV) partner, CEO Russell Hallbauer said on Wednesday. The company already has most of the required construction funding for... 

As prices soar, Taseko may develop Arizona copper project without a JV partner

Trade tensions rise between China and Aus

6th May 2021 Advisory firm WoodMackenzie (WoodMac) has warned that the escalation in the geopolitical dispute between China and Australia was likely to have an impact on the resources sector. China’s state planner, the National Development and Reform Commission (NDRC) on Thursday reportedly announced an... 

Trade tensions rise between China and Aus

NSW clears the way for hydrogen/gas plant

By: Esmarie Iannucci     6th May 2021 The New South Wales government has given its blessing for energy provider EnergyAustralia to develop Australia’s first net zero emissions, hydrogen/gas power plant, striking an A$83-million funding agreement. EnergyAustralia has been given approval for the expansion of its existing Tallawarra... 

Albemarle profit beats expectations on rising lithium demand

By: Reuters     6th May 2021 Albemarle, the world's largest producer of lithium, posted a quarterly profit on Wednesday that easily beat Wall Street's expectations on rising demand from the electric vehicle industry. The company reported first-quarter net income of $95.7-million, or 84c a share, compared with... 

BHP's Covid recovery fund tracking well

By: Esmarie Iannucci     6th May 2021 Diversified miner BHP has spent more than A$18-million in community funding across Western Australia, and more than A$8 million in the Pilbara, over the past year, the miner revealed this week. The funding formed part if the major’s A$50-million Vital Resources Fund, which was established to... 

Origin adds more gas to southern markets

By: Esmarie Iannucci     6th May 2021 Energy provider Origin Energy has struck an additional gas supply and transport agreement that would increase gas supply to customers in southern markets. Under a four-year supply agreement with Australia Pacific Liquefied Natural Gas (LNG), Origin has secured up to an additional 91 PJ of gas... 

Northern Australia targeted for economic growth

By: Esmarie Iannucci     6th May 2021 The Queensland Resources Council (QRC) has welcomed the federal government’s intentions to invest A$190-million over the next five years as part of its growth plans for the region. Minsiter for Resources, Water and Northern Australia, Keith Pitt, announced the major investment package which was... 

Major funding boost to three hydrogen projects

By: Esmarie Iannucci     6th May 2021 The Australian Renewable Energy Agency (ARENA) this week announced the conditional approval of a A$103.3-million investment towards three commercial-scale renewable hydrogen projects, as part of its Renewable Hydrogen Deployment Funding Round. ARENA has increased its original hydrogen funding... 

Major funding boost to three hydrogen projects

Biden admin still undecided on Minnesota copper mine project -Vilsack

By: Reuters     5th May 2021 US Agriculture Secretary Tom Vilsack said on Wednesday that the White House has not decided on the fate of the Twin Metals copper mining project in Minnesota, as it works to balance economic growth and strong opposition from environmentalists. Vilsack's comments were among the first from a... 

Biden admin still undecided on Minnesota copper mine project -Vilsack
US President Joe Biden

Barrick’s Bristow criticises resurgence of market-plaguing short-termism 

By: Martin Creamer     5th May 2021 The rise in the gold price has prompted a resurgence of the short-termism which has plagued the market, with some investors focusing on short-term gains rather than sustainable growth, Barrick Gold CE Dr Mark Bristow said on Wednesday, when his New York- and Toronto-listed company paid a... 

Barrick’s Bristow criticises resurgence of market-plaguing short-termism
Barrick Gold CEO Mark Bristow

Minerals Council encourages distributed generation for mining industry 

By: Simone Liedtke     5th May 2021 The Minerals Council South Africa is encouraging the uptake of distributed generation (also called self-generation) of power in South Africa, especially considering that South Africa is facing an electricity supply gap. The impact of this is “huge”, Minerals Council CEO Roger Baxter told... 

Minerals Council encourages distributed generation for mining industry
Minerals Council CEO Roger Baxter

Lower gold price, production reduce DRDGold’s earnings

By: Tasneem Bulbulia     5th May 2021 Dual-listed DRDGold’s production decreased by 6% quarter-on-quarter to 1 382 kg in the quarter ended March 31. In an operating update published on May 5, the company said this was despite a 3% increase in ore milled. 

Ivanhoe considers hydrogen fuel cell mining fleet as it pledges net-zero emissions at Kamoa-Kakula

By: Creamer Media Reporter      5th May 2021 Canadian mining company Ivanhoe Mines has pledged to achieve net-zero operational greenhouse-gas emissions (Scope 1 and 2) at the Kamoa-Kakula copper mine, in the Democratic Republic of Congo. "In support of the Paris Agreement on climate change, and in the spirit of the commitments at the recent... 

Ivanhoe considers hydrogen fuel cell mining fleet as it pledges net-zero emissions at Kamoa-Kakula
Photo by Creamer Media
Ivanhoe co-chairperson Robert Friedland

Ministerial determination sanctioning private power procurement would spur investment, clear regulatory blockages 

By: Terence Creamer     5th May 2021 The chairperson of the South African Independent Power Producer Association (SAIPPA) believes that the quickest and cheapest way to reduce, or eliminate, South Africa’s growth-sapping risk of load-shedding would be for Mineral Resources and Energy Minister Gwede Mantashe to issue a Ministerial... 

Ministerial determination sanctioning private power procurement would spur investment, clear regulatory blockages

Energy specialist encourages mines to consider hybrid energy systems

By: Simone Liedtke     5th May 2021 Electrical energy solutions provider Senergy energy specialist Wilco de Villiers has encouraged miners to consider the value of implementing hybrid energy systems at their operations, as mines cannot function effectively without reliable energy supply. Speaking during this year’s Energy & Mines... 

Resources Watch  

5th May 2021 This week: PGMs in all three drive trains if Lion Battery initiative is successful And, Mining policy should be hugely supportive of exploration’s multiplier magic  

Resources Watch
Resources Watch

Sunstone to sell stake in Finland lithium project

By: Donna Slater     5th May 2021 Australia-headquartered gold and copper miner Sunstone Metals has agreed to sell its 83.6% stake in its Finland-based lithium project to Canada-headquartered explorer and developer United Lithium for a total consideration of A$879 000 – inclusive of 490 000 shares. As such, Sunstone has signed a... 

Black Cat raises cash for Kal East gold project

By: Creamer Media Reporter      5th May 2021 Gold developer Black Cat Syndicate has received firm commitments to raise A$20-million for the advancement of its Kal East gold project, in Western Australia. The placement at A$0.67 a share is a discount to the A$0.75 a share that the company traded at on Wednesday. The placement formed an... 

Tanzania gets renewed hope to transform mining industry with Hassan administration – Leon

By: Donna Slater     5th May 2021 The “change of tone” brought by Tanzania’s new President Samia Suluhu Hassan over the past month could indicate a welcome new economic direction for the country, professional services firm Herbert Smith Freehills partner and Africa co-chairperson Peter Leon says.   In March, former Tanzania... 

Mothae diamonds sell for $1.5m

By: Creamer Media Reporter      5th May 2021 Australia-based Lucapa Diamond Company has netted $1.5-million from the sale of 3 617 ct of diamonds from its Mothae mine, in Lesotho. The company achieved a price of $420/ct in this third sale of 2021. The average diamond price achieved in the three sales to date in 2021 is $936/ct. 

Barrick Gold Q1 profit surges, sees higher output ahead

By: Reuters     5th May 2021 Barrick Gold reported a 78% rise in first-quarter profit on Wednesday helped by rising gold and copper prices, and said it was on track to meet annual guidance. Copper prices have gained on the back of massive economic stimulus while gold has moved higher as a hedge against inflation. 

Barrick Gold Q1 profit surges, sees higher output ahead

New LoM plan affirms Morila as profitable, long-life mining operation

By: Mariaan Webb     5th May 2021 Australian miner Firefinch on Wednesday announced the outcome of its life-of-mine (LoM) plan for the Morila gold mine, in Mali, stating that the mine it bought from Barrick and AngloGold Ashanti last year still had a long life ahead of it. Morila, which has been producing gold continuously for... 

New LoM plan affirms Morila as profitable, long-life mining operation

Brightstar mill refurbishment to cost A$5.5m

By: Mariaan Webb     5th May 2021 Emerging gold miner Brightstar Resources has shared details about the cost estimates for the refurbishment of its namesake processing plant, near Laverton, in Western Australia. The company, which received an independent cost estimate from Como Engineers, said on Tuesday that it would cost... 

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