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Mining News

Ferrexpo names insider James North as acting CEO

By: Reuters     18th May 2020 Iron-ore pellets producer Ferrexpo on Monday appointed James North as its acting CEO, six months after Kostyantin Zhevago stepped down temporarily to resolve issues at his former business in Ukraine. North, currently the company's chief operating officer, will take on additional duties with... 

Sylvania confirms its six tailings operations are ramping up

By: Marleny Arnoldi     18th May 2020 Aim-listed Sylvania Platinum is in the process of ramping up and maximising production at its six tailings retreatment facilities, under strict conditions stipulated by the South African government. The government started easing Covid-19 restrictions from May 1, after Sylvania had to scale down... 

PTM says market remains strong while it awaits Waterberg mining right grant

By: Marleny Arnoldi     18th May 2020 TSX- and NYSE-listed Platinum Group Metals (PTM) has reiterated that it expects the South African Department of Mineral Resources and Energy to grant its Waterberg platinum/palladium joint venture (JV) project a mining right during June, as lockdown measures start to ease in the country. PTM... 

Renewables embrace lifts Namibia’s energy optimism

By: Martin Creamer     18th May 2020 With the recently introduced reforms in Namibia’s renewable energy sector and the growing presence and entry of international oil companies into the hydrocarbons sector, Namibia Mines and Energy Minister Tom Alweendo on Friday expressed optimism about the country’s energy future. Namibia, which... 

Renewables embrace lifts Namibia’s energy optimism
Namibia Mines and Energy Minister Tom Alweendo

Hochschild to restart Peru mines

By: Creamer Media Reporter      18th May 2020 Precious metals miner Hochschild Mining has met all the requirements to restart operations in Peru, and is aiming to achieve full production in the coming weeks. The London-listed mining company said on Monday it would begin ramping up progressively at the Inmaculada and Pallancata mines. "We... 

Equinox Gold says Covid disruptions have been ‘limited’

By: Creamer Media Reporter      18th May 2020 Americas-focused Equinox Gold has had a strong first quarter, bolstered by production from its newly acquired assets, reporting record gold production and record earnings, despite navigating challenges related to the Covid-19 pandemic. The miner, which added four mines to its two when the merger... 

Nersa allows Eskom to claw back R13.3bn in tariffs 

By: Reuters     18th May 2020 South African energy regulator Nersa said on Friday it will allow utility Eskom to recover R13.3-billion from customers for electricity supplied in the 2018/19 financial year, lower than what the state-owned power utility had applied for. Nersa said in a statement it will give its reasons for the... 

Nersa allows Eskom to claw back R13.3bn in tariffs

Atrum welcomes winds of change in Alberta

By: Esmarie Iannucci     18th May 2020 Coal developer Atrum Coal has welcomed a decision by the Alberta government to repeal the Coal Development Policy for Alberta, saying it represented a significant step forward to the targeted future development of Atrum’s Elan hard coking coal project. Atrum said on Monday that the repeal of... 

Atrum welcomes winds of change in Alberta

Sipa concludes royalty sale

By: Esmarie Iannucci     18th May 2020 Junior Sipa Resources has raised A$2.25-million from the sale of its royalty portfolio to royalties company SilverStream. The company in March this year inked a binding preliminary purchase agreement with SilverStream over the royalties that exist over several projects previously identified and... 

Agrimin Mackay gets 'major project' status

By: Esmarie Iannucci     18th May 2020 The Australian government has granted ASX-listed Agrimin Major Project Status for its Mackay potash project, in Western Australia. Minister for Industry, Science and Technology Karen Andrews said the project would provide significant economic benefits at such a critical time. 

Agrimin Mackay gets 'major project' status

Hot Chili raises A$8.9m

By: Esmarie Iannucci     18th May 2020 Copper developer Hot Chili is hoping to raise A$8.9-million through a private share placement and a rights issue to fund work at its Cortedera project, in Chile. The ASX-listed company on Monday said it had successfully arranged for a A$5-million private placement to sophisticated and... 

Freeport cuts workforce at Grasberg mine as coronavirus cases in area rise

By: Reuters     18th May 2020 Freeport-McMoRan's Indonesian unit said it will operate the giant Grasberg mine with a "skeletal team" after a rise in coronavirus infections in the area, including at the mine workers' living quarters, and three deaths. The move is aimed at ensuring workers at the world's biggest gold mine and... 

Freeport cuts workforce at Grasberg mine as coronavirus cases in area rise
The Grasberg mine, in Indonesia.

Covid-19 impact on platinum market less than expected – WPIC 

By: Martin Creamer     18th May 2020 While the Covid-19 pandemic has had a major negative effect on the platinum market — including price, demand and supply — the results for the first quarter of 2020 show the net effect is less than feared, and the outlook for 2020 is better than expected, the World Platinum Investment Council... 

Covid-19 impact on platinum market less than expected – WPIC
Surging demand for platinum bar and coin.

Minister, premier, Implats meet on Limpopo Covid detection

By: Martin Creamer     17th May 2020 Mineral Resources and Energy Minister Gwede Mantashe on Sunday convened an urgent meeting with the Limpopo Provincial Government, led by Premier Stanley Mathabatha, and Impala Platinum (Implats) Marula mine management, following confirmation of a cluster of Covid-19 cases being detected in and... 

Minister, premier, Implats meet on Limpopo Covid detection
Marula Platinum process plant

Implats suspends Marula after detecting 19 positive Covid cases

By: Martin Creamer     16th May 2020 Platinum group metals mining company Implats on Saturday confirmed that a cluster of positive Covid-19 cases had been detected in and around its Marula operation in Limpopo province following stringent and comprehensive screening, testing and tracing protocols. The JSE-listed company said it had... 

Implats suspends Marula after detecting 19 positive Covid cases
The Marula platinum mining operation in Limpopo.

Kibo shareholders to vote on reorganisation of share capital as Covid-19 disrupts operations

By: Donna Slater     15th May 2020 Owing to the adverse impact of the Covid-19 pandemic on international business and the uncertainty surrounding the global economic outlook, Africa-focused energy company Kibo Energy is re-evaluating its business plans, partly involving the potential reorganisation of its share capital. The share... 

DRDGold declares cash dividend 

By: Martin Creamer     15th May 2020 The board of DRDGold has declared a cash dividend of 25 c a share for the quarter ended March 31, the surface gold mining company said on Friday. The Johannesburg- and New York-listed DRDGold, headed by CEO Niël Pretorius, said in a stock exchange news service (SENS) announcement that the... 

DRDGold declares cash dividend
Photo by Creamer Media
DRDGold CEO Niël Pretorius

Katoro, POW extend Haneti investment agreement deadline

By: Tasneem Bulbulia     15th May 2020 Aim-listed Katoro Gold and Power Metal Resources (POW) have agreed to extend the deadline for an investment and option agreement over the Haneti polymetallic project, in Tanzania, to May 31. On March 15, Katoro announced that it had entered into an investment and option agreement for joint... 

Zambia reopens border with Tanzania to cargo after Covid-19 closure

By: Reuters     15th May 2020 Zambia reopened its Nakonde border with Tanzania on Friday for cargo after a five-day closure of the key transit point for copper and cobalt exports and fuel imports, but people were still not allowed to cross, a provincial minister told Reuters. President Edgar Lungu had shut the border on... 

Glencore invests more in Ireland neighbour Group Eleven

By: Mariaan Webb     15th May 2020 Diversified major Glencore will invest C$750 000 in exploration and development group Group Eleven Resources, which owns the Stonepark project adjacent to its Pallas Green project, in Ireland. Glencore Canada will buy 15-million units in TSX-V-listed Group Eleven at C$0.05 a share. The... 

Glencore invests more in Ireland neighbour Group Eleven
Zinc flakes

Israel's diamond industry grinds to halt amid coronavirus

By: Reuters     15th May 2020 Israel's economy is slowly returning to normal with the gradual easing of its lockdown, but the once vibrant diamond exchange floor in Tel Aviv remains shut and the diamond district, one of the world's main trade and polishing centres, is still deserted. Before the new coronavirus reached... 

Turquoise Hill updates mine design for Oyu Tolgoi underground

By: Mariaan Webb     15th May 2020 Rio Tinto-controlled Turquoise Hill has completed the an updated mine design for Panel 0 – the first panel of mining at its Oyu Tolgoi underground project – narrowing the previously announced cost overrun and delay ranges. The approved design is based on a block cave approach, which leaves two... 

Turquoise Hill updates mine design for Oyu Tolgoi underground
The Oyu Tolgoi concentrator

Alphamin completes $31m share offering

By: Donna Slater     15th May 2020 JSE-listed Alphamin Resources, which owns the Bisie tin mine, in the Democratic Republic of the Congo, has completed a previously announced offering of common shares, raising about $31-million. The company issued for cash on a nonbrokered private placement basis 100.82-million common shares for... 

Central banks indicate they will continue to buy gold, some more than usual 

By: Marleny Arnoldi     15th May 2020 The World Gold Council (WGC) in its latest 'Central Bank Gold Reserves (CBGR)' survey highlights several notable shifts in central bank attitudes towards gold this year. Increased interest in gold’s performance during times of crisis would suggest that the fast-changing financial and economic... 

Central banks indicate they will continue to buy gold, some more than usual

RBM steps up Covid-19 health and safety measures for employees, nearby communities

By: Tasneem Bulbulia     15th May 2020 In its continued efforts to defeat Covid-19, mineral sands producer Richards Bay Minerals (RBM) is issuing its permanent employees, contract workers and their immediate families with cloth masks. Employees are also being issued with personal thermometers to monitor their body temperature. 

Sunrise publishes enviro assessment for public comment

By: Marleny Arnoldi     15th May 2020 Aim-listed Sunrise Resources has published its environment assessment and supplemental environmental reports for the CS pozzolan-perlite project for public comment. The project is based in Nevada, US.  

BCI adds to Mardie footprint

By: Esmarie Iannucci     15th May 2020 Junior BCI Minerals has secured a new tenement area adjacent to its Mardie salt and potash project, in Western Austraila. BCI Minerals on Friday announced that it would pay owner Leichhardt Industrials A$3.5-million on cash on the completion of the tenement right acquisition. 

Hudbay suspends Peru guidance, reports loss for Q1

By: Marleny Arnoldi     15th May 2020 TSX- and NYSE-listed diversified miner Hudbay Minerals has posted record production from its Lalor mine, and record throughput at the Stall concentrator, in Manitoba, in the first quarter ended March 31. The company reports that, on a quarter-on-quarter basis, Lalor increased its ore mined by... 

Hudbay suspends Peru guidance, reports loss for Q1
Hudbay's Lalor mine, in Canada

Panoramic completes Canadian project sale

By: Esmarie Iannucci     15th May 2020 Nickel miner Panoramic Resources has completed the sale of its Thunder Bay North project, in Canada, to Clean Air Metals, which was formerly known as Regency Gold Corp. Panoramic in January inked a share purchase agreement for its subsidiary Magma Metals selling asset for C$9-million in cash. 

Contract electrician dies at Great Panther's GMC mine

By: Creamer Media Reporter      15th May 2020 Dual-listed Great Panther Mining has reported a fatality at its Guanajuato Mine Complex (GMC) in Mexico. The accident occurred on Thursday in the Rayas underground mine at GMC. The deceased, age 29, was a contract electrician at GMC. The accident involved a single motor vehicle travelling down... 

Heron gets extension on standstill agreement

By: Esmarie Iannucci     15th May 2020 Base metals junior Heron Resources has received a further extension to the standstill agreement with senior deb provider Orion Mine Finance (OMF) to determine a forward path for its Woodlawn project, in New South Wales. Heron in March suspended operations at Woodlawn amid travel restrictions... 

Flinders raises cash

By: Esmarie Iannucci     15th May 2020 ASX-listed Flinders Mines is hoping to raise A$5.5-million through a non-renounceable entitlement offer, priced at 1.3c a share. The entitlement offer will comprise some 425.8-million shares, and will be offered on the basis of one new share for every nine existing shares held.  

Australian LNG exports stay strong

By: Esmarie Iannucci     15th May 2020 Australian liquefied natural gas (LNG) exports in April continued apace, despite the global surplus of LNG and a slowdown in economic activity as a result of the Covid-19 pandemic, energy advisory EnergyQuest has found. In its latest report, EnergyQuest noted that in April, Australian LNG... 

Australian LNG exports stay strong

Australian Parliament passes hydrogen legislation

By: Esmarie Iannucci     15th May 2020 The Australian Parliament this week passed the Offshore Petroleum and Greenhouse Gas Storage (OPGGS) Amendment Bills amending the OPGGS Act 2006, which could pave the way for a new hydrogen industry in Australia. The Amendment Bills were now awaiting royal assent. “As Australia emerges from the... 

Australian Parliament passes hydrogen legislation

Mexico mining official says industry should aim for June 1 restart

By: Reuters     15th May 2020 Mexico's mining sector should re-start activities on June 1, two weeks later than previously suggested, Mexico's undersecretary for mining said on Thursday. Mexican government earlier this week said it would classify mining, along with the auto sector and construction, as essential activities,... 

EY Canadian Eye drops sharply on Covid-19

By: Creamer Media Reporter      15th May 2020 The EY Canadian Mining Eye index has declined by 29% in the first quarter of 2020, amid the coronavirus pandemic. The substantial decrease compares with a gain of 11% in the final quarter of 2019. “The mining and metals sector continues to grapple with the impact of government Covid-19 mandates... 

WA fixes construction mineral royalty

By: Esmarie Iannucci     15th May 2020 The Western Australian government on Friday announced that royalty rates for construction and industrial minerals used by Western Australia's building and construction sector will remain fixed for the next five-years starting in July. 

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