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Mining News

Mako raises funding

By: Esmarie Iannucci 28th May 2020 ASX-listed Mako Gold will raise $3.25-million through the placement of 65-million new shares over two tranches. The first tranche of the placement will consist of 11.3-million shares, priced at 5c each, and will be conducted under the existing placement capacity to raise an initial A$600 000. →

Santos and ConocoPhillips adjust deal

By: Esmarie Iannucci 28th May 2020 Oil and gas major Santos has reworked its agreement with New York listed ConocoPhillips over that company’s northern Australian business, which includes its share in the Darwin liquefied natural gas (LGN) project, and the Bayu-Undan, Barossa and Poseidon assets. The total consideration for the... →

Galantas restarts Omagh processing, to publish results later

By: Marleny Arnoldi 28th May 2020 TSX-V- and Aim-listed Galantas Gold has advised that it will only publish its full year and interim results later this year. This follows after the Canadian Securities Administrators published blanket relief for market participants regarding the filing of certain continuous disclosure documents... →

Katoro, POW consider Haneti shareholding options

By: Simone Liedtke 28th May 2020 Aim-listed Katoro Gold and Power Metal Resources (POW) will continue to monitor the development of any potential commercial transactions, before any final agreement is agreed upon in terms of commercial discussions relating to the Haneti polymetallic project, in Tanzania. In lieu of this, POW has... →

Mining investment, the economy, Covid-19 opportunities make headlines

28th May 2020 Mining Weekly editor Martin Creamer unpacks the mining industry's hopes to attract investment, the call for the urgent restoring of the country’s economy and Covid-19's in-country, self-sufficiency opportunities for South Africa. →

Mining investment, the economy, Covid-19 opportunities make headlines

PEA illustrates viability of Kiena restart in Val d’Or

By: Creamer Media Reporter 28th May 2020 The preliminary economic assessment (PEA) for the Kiena project shows that a restart of the mining complex in Val d’Or, Quebec, is viable in a “very short-term horizon”. The study, released by TSX-listed Wesdome Gold on Wednesday, pointed to an aftertax internal rate of return of 102% and an... →

The Kiena complex, in Quebec.

Yamana completes royalty sale to newly listed Nomad for 13% ownership

By: Marleny Arnoldi 28th May 2020 TSX- and NYSE-listed Yamana Gold has completed the sale of a portfolio of royalty interests and a contingent payment agreement to Nomad Royalty Company for $65-million. Nomad, formerly Guerrero Ventures, will start trading on the TSX on May 29. →

Reopening economy is critical, but must be done safely – O’Regan

By: Mariaan Webb 28th May 2020 Canadian Natural Resources Minister Seamus O’Regan has stressed the importance of reopening the economy, but says it has to be done safely with consideration for all Canadians, including those in Indigenous and northern communities. “We must work with Indigenous partners to ensure their concerns... →

Natural Resources Minister Seamus O'Regan (right) pictured with Prime Minister Justin Trudeau.

BHP/Glencore/Teck venture resumes operations after Covid-19 suspension

By: Creamer Media Reporter 28th May 2020 The Antamina copper/zinc mine, in Peru, will resume operations at 80% capacity, 22.5%-owner Teck Resources reported on Wednesday. The mine will gradually ramp up to full production capacity in the third quarter, while adhering to comprehensive Covid-19 protocols. Antamina operated under an... →

Mincor eyes Kambalda start before year-end

By: Esmarie Iannucci 28th May 2020 Junior Mincor Resources has awarded an underground mining contract for its Kambalda nickel operation, in Western Australia, to Pit N Portal. The contract will span the first five years of underground mining at the new Cassini nickel mine, where early surface work was recently completed, as well... →

Lepidico's Namibian project proves positive

By: Esmarie Iannucci 28th May 2020 A definitive feasibility study (DFS) by ASX-listed Lepidico into an integrated mine, concentrator and chemicals plant has proven the economics of the Phase 1 development of its Karibib lithium asset, in Namibia. The Phase 1 study is based on a modest-scale commercial plant processing a lithium... →

Nova shareholder provides funding

By: Esmarie Iannucci 28th May 2020 ASX-listed Nova Minerals has secured up to A$6-million in funding from investor Collins St Asset Management, boosting the junior’s balance sheet. The funding will consist of an initial A$2-million investment and additional loan of up to A$4-million, subject to the satisfaction of terms. →

Strike's gas project gets state backing

By: Esmarie Iannucci 28th May 2020 The Western Australian government has awarded ASX-listed Strike Energy Lead Agency Status for its West Erregulla gas project. Under the Lead Agency Framework, the Department of Jobs, Tourism, Science and Innovation will provide the West Erregulla project with case-management for government... →

Manganese mine in strong position to weather uncertainties – Jupiter

By: Martin Creamer 28th May 2020 The Tshipi Borwa manganese mine is in a strong position to weather the uncertainties ahead, as the world struggles, probably for years to come, to recover from the devastating economic consequences of the global lockdown, Jupiter Mines nonexecutive chairperson independent Brian Gilbertson said on... →

Photo by Creamer Media
Jupiter nonexecutive chairperson Brian Gilbertson

White Rock raises funds for Alaska

By: Esmarie Iannucci 28th May 2020 ASX-listed White Rock Minerals will raise A$7.35-million through a two tranche share placement and a fully underwritten share purchase plan (SPP) to fund exploration and drill testing at its Lake Chance gold anomaly, in Alaska. The two tranche placement will consist of 1.95-billion shares, at... →

Engineering News & Mining Weekly e-magazine now available

28th May 2020 For the duration of South Africa’s Covid-19 lockdown period, Creamer Media is providing free digital access to our flagship Engineering News & Mining Weekly news magazine. Click now to read our latest edition. →

IDC confirms Kalagadi Manganese business rescue application

By: Martin Creamer 27th May 2020 The Industrial Development Corporation (IDC) confirmed on Wednesday that it had initiated business rescue proceedings at Kalagadi Manganese (Pty) Ltd. The application, issued out of the Johannesburg High Court on April 29, saw IDC argue that Kalagadi Manganese urgently required the restructuring... →

Photo by Creamer Media
Kalagadi Manganese mine in the Kalahari basin.

Mining industry's 5 000 tests detect 320 Covid cases – Minerals Council

By: Martin Creamer 27th May 2020 Just under 5 000 Covid tests carried out by the South African mining industry have detected 320 Covid positive cases, Minerals Council South Africa CEO Roger Baxter said on Wednesday. Speaking during a virtual media conference following the council’s annual general meeting, Baxter said the number... →

Minerals Council South Africa CEO Roger Baxter

Mining company uses technology to gear up for Covid-19

By: Tasneem Bulbulia 27th May 2020 One of South Africa’s oldest mining companies has rolled out a high-tech thermal screening solution at one of its mines in Limpopo and at its Sandton head office, as part of a wide-ranging initiative to protect its employees from the spread of Covid-19, says managed business solutions provider... →

Temperature screening installation

Gold price to rise to $2 000/oz by year-end, says Velocity Trade Capital

By: Tasneem Bulbulia 27th May 2020 Gold is back in favour and producers are ready to take advantage of this, which is informing global equity, foreign exchange and precious metals broker dealer Velocity Trade Capital’s bullish outlook for the sector. The company’s bull case projects gold climbing back to $2 000/oz by the end of... →

Endeavour sharpens up ESG reporting, efforts

By: Marleny Arnoldi 27th May 2020 TSX-listed Endeavour Mining has augmented its short and long-term compensation plans to include clearly measurable environment, social and governance (ESG) targets. For this year, Endeavour has expanded its group targets, which affects annual employee bonuses, to include 20% ESG-related... →

Administrator says Alexkor, partner mismanaged and insolvent

By: Marleny Arnoldi 27th May 2020 Alexkor’s administrator Lloyd McPatie has said the diamond mining company is trading recklessly and cannot meet its financial obligations. Briefing the Portfolio Committee on Public Enterprises and the Select Committee on Public Enterprises and Communication on his observations of issues at the... →

Vale ordered to set aside $1.48bn for Brumadinho dam damages

By: Reuters 27th May 2020 A judge in Brazil's Minas Gerais state partially granted an injunction sought by prosecutors ordering iron-ore miner Vale to deposit 7.9-billion reais ($1.48-billion) for payment of potential fines related to a dam disaster last year. Vale faces multiple legal battles after a tailings dam it... →

Coronavirus to exacerbate copper surplus this year and next - IWCC

By: Reuters 27th May 2020 The global copper market is expected to be in surplus by 285 000 t this year as a result of the coronavirus pandemic, with the overhang rising to 675 000 t in 2021, an industry body said in a report. The forecast from the International Wrought Copper Council (IWCC) against the backdrop of... →

Pandemic-induced slump in global energy investment risks locking in obsolete technologies

By: Terence Creamer 27th May 2020 The Covid-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge by $400-billion in 2020, a new International Energy Agency (IEA) report shows. Describing the slump as “unparalleled” and “staggering” in both scale and swiftness, the... →

IEA executive director Dr Fatih Birol

Minerals Council president reflects on urgency of restoring economy

By: Martin Creamer 27th May 2020 Re-elected Minerals Council South Africa president Mxolisi Mgojo on Wednesday called on all the leaders of the mining industry to commit to continuing to address the Covid-19 health threat with uncompromising vigour and emphasised that the introduction of measures to restructure the economy was... →

Photo by Creamer Media
Minerals Council president Mxolisi Mgojo

Giyani raises $1.2m to advance Botswana project

By: Simone Liedtke 27th May 2020 TSX-V-listed Giyani Metals’ non-brokered private placement financing has closed. The private placement, announced on May 19, was fully subscribed and comprised 15-million units at a price of $0.08 a unit for gross proceeds of $1.2-million in immediately available new funding. →

Xtract Resources disappointed over poor first-quarter gold output

By: Simone Liedtke 27th May 2020 Total alluvial mining contractor gold production was 467 oz at the Manica concession for the first quarter, ended March 31, 2020, diversified metals and minerals producer Xtract Resources reports, noting that the results “are a little bit disappointing for the first quarter”. This compares with... →

Mahalo gets EPBC approval

By: Esmarie Iannucci 27th May 2020 The Australian government has granted approval to the Mahalo gas project, near Gladstone, under the Environment Protection and Biodiversity Conservation Act (EPBC). Project developer Comet Ridge on Wednesday said that the EPBC approval was the first of two environmental steps required for the... →

Core adds A$7m to Finniss kitty

By: Esmarie Iannucci 27th May 2020 Lithium developer Core Lithium will raise A$7-million through a share placement and share purchase plan (SPP) to progress the Finniss lithium project, in the Northern Territory. The ASX-listed company will raise an initial A$5.5-million through the placement of 129.8-million shares, at a price of... →

Funds raised for HPA First

By: Esmarie Iannucci 27th May 2020 Junior Alpha HPA will raise A$7-million to advance its HPA First project, in Queensland. The share placement to sophisticated investors will be priced at 14.5c each, and proceeds from the raising will go towards funding the company’s production of high purity alumina (HPA) for market outreach... →

Sienna Resources buys battery metals project in Finland

By: Creamer Media Reporter 27th May 2020 TSX-V-listed Sienna Resources has acquired the Kuusamo battery metals project, which comprises of two exploration “reservation” properties located adjacent to, and near, the Kaukua platinum group elements (PGE) project that fellow-listed Palladium One is advancing. The Kuusamo project hosts... →

Kazakhstan, Russia and Uzbekistan continue to supply vast majority of US uranium needs

By: Creamer Media Reporter 27th May 2020 Owners and operators of US civilian nuclear power reactors (COOs) purchased a total of 48-million pounds of U3O8 equivalent of deliveries from US and foreign suppliers in 2019, with the vast majority sourced from Kazakhstan, Russia and Uzbekistan. The total deliveries was 20% higher than the... →

Second stage of Kefi’s drilling programme in Saudi Arabia completed

By: Simone Liedtke 27th May 2020 Gold and Minerals (G&M), Kefi Minerals’ 34%-owned joint venture company, has now completed Stage 2 of the Hawiah diamond drilling programme, in Saudi Arabia, thereby increasing the number of completed drill holes to 69 since October 2019, when the first drill hole was completed. Copper, zinc,... →

Taseko takes first step on Yellowhead assessment road with First Nation pact

By: Mariaan Webb 27th May 2020 Toronto-listed Taseko Mines has entered into an agreement with an indigenous nation regarding the miner’s intentions to start the regulatory approval process for the Yellowhead copper project, in the Thompson‐Nicola area of British Columbia. Located about 150 km north‐east of Kamloops near... →

Zimbabwe gold miners to keep more export earnings in dollars

By: Reuters 27th May 2020 Zimbabwe will increase the proportion of dollars gold miners can keep from their sales, the central bank's bullion-buying arm said on Wednesday, yielding to pressure from producers who were pushing to retain more. Gold is Zimbabwe's single largest foreign currency earner, and Fidelity Printers... →

Fortuna’s San Jose back at nameplate capacity

By: Creamer Media Reporter 27th May 2020 The San Jose silver/gold mine, in Mexico, has officially resumed production at nameplate capacity of 30 000 t/d, after it was granted approval on May 25 to restart operations. Owner Fortuna Silver mines suspended production after the Mexico government on March 31 announced an isolation period to... →

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