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China buying South African coal ‘could be game-changer but we shouldn’t be complacent’

By: Martin Creamer 13th January 2021 Normally, China does not import coal from South Africa, but 2021 has seen a shift. Shipments to mainland China were reported on Monday by the African Source Markets’ Weekly Coal Index Report. →

IronRidge identifies new pegmatite targets at Ghana lithium project

By: Donna Slater 13th January 2021 Aim-listed explorer IronRidge Resources has defined multiple new pegmatite targets following auger drilling at the Ewoyaa lithium project, in Ghana, where the company has defined a Joint Ore Reserves Committee-compliant mineral resource estimate of 14.5-million tonnes at a grade of 1.31% lithium... →

Merafe production decreases 29% in 2020 thanks to Covid

By: Simone Liedtke 13th January 2021 JSE-listed Merafe Resources’ attributable ferrochrome production from the Glencore Merafe chrome venture for the fourth quarter and the year ended December 31, 2020, decreased by about 8% and 29%, respectively. Attributable ferrochome production in the fourth quarter was 97 000 t, bringing the... →

Gold exploration remains steady with moderate growth

By: Donna Slater 13th January 2021 Amid falling exploration budgets across nearly all commodities, gold exploration remained steady in 2020, posting a 1% increase over 2019. Exploration was buoyed by stronger gold prices during the Covid-19 pandemic, reports research and data company Standard & Poor’s Global Market Intelligence... →

Petra Diamonds’ shareholders approve restructuring

By: Simone Liedtke 13th January 2021 London-listed Petra Diamonds’ shareholders have voted in favour of a resolution to restructure the business and provide it with a more stable, deleveraged capital structure that will ensure the short- and long-term viability of the company. At a special general meeting held on January 13, 95.13%... →

Gold among 2020's best-performing assets, says WGC

By: Simone Liedtke 13th January 2021 Gold-backed exchange-traded funds (ETFs) and similar products had what the World Gold Council (WGC) called “a remarkable year” in 2020, as gold ETFs had recorded yearly net inflows of $47.9-billion, or 877 t, collectively increasing gold holdings by over a third and reaching all-time highs in... →

Indebted Zambia pays $400m in VAT refunds to mining firms

By: Reuters 13th January 2021 Zambia paid 8.5-billion kwacha ($400-million) in value-added tax refunds to mining companies last year, the head of the tax authority said on Wednesday, equal to about 3.5% of the external debt that the southern African country is struggling to repay. Zambia, Africa’s second-largest copper... →

Kenmare records strong fourth-quarter output on the back of higher-grade ore

By: Marleny Arnoldi 13th January 2021 London-listed Kenmare Resources says it experienced a pivotal time in the fourth quarter of last year, benefitting from higher ore grades and higher ilmenite prices. During the quarter under review, the company started mining the Pilivili orezone at its Moma titanium minerals mine, in... →

There was no alternative to Eskom's R1.68bn prepayment to Tegeta, says Koko Matshela

By: News24Wire 13th January 2021 Matshela Koko, the former head of generation at Eskom, told the state capture commission of inquiry that there was nothing wrong with a controversial R1.68 billion pre-payment which the power utility made to Gupta-owned Tegeta Exploration and Resources after the company clinched a coal supply... →

Photo by Creamer Media
Former Eskom head of generation Matshela Koko

Los Andes testwork further enhances Vizcachitas economics

By: Marleny Arnoldi 13th January 2021 TSX-listed Los Andes Copper has announced that it will be able to increase its copper and molybdenum recoveries from the Vizcachitas project, in Chile, after it managed to optimise rougher flotation conditions during metallurgical testwork. The testwork forms part of the ongoing prefeasibility... →

Cornish Metals intends to float on London’s Aim market

By: Donna Slater 13th January 2021 Copper and tin miner Cornish Metals, which is currently listed on the TSX-V, has announced plans to list on the Aim market of the London Stock Exchange in February. The proceeds of the fundraising will be used to conduct an 8 000 m drill programme at its copper and tin project in Cornwall, in the... →

Aeris settles Yandan sale

By: Esmarie Iannucci 13th January 2021 Copper and gold miner Aeris Resources (ASX: AIS) today announced the completion of the sale of the Yandan gold exploration project, in Queensland, to fellow listed GBM Resources. Under the terms of the sales agreement, GBM has now paid Aeris A$3-million worth of its own shares, priced at 13.5c... →

Orla’s updated feasibility study hikes Camino Rojo reserves by 54%

By: Donna Slater 13th January 2021 An updated feasibility study and mineral reserve estimate of TSX- and NYSE-listed Orla Mining’s Camino Rojo oxide gold project has increased its contained gold mineral reserves by 54% and added 3.5 years to the mine life. The currently under construction project, located in Zacatecas, Mexico,... →

Teranga hits quarterly, yearly records from its West African mines

By: Marleny Arnoldi 13th January 2021 TSX-listed Teranga Gold has exceeded the top end of its full-year production guidance range, producing 404 460 oz for the year ended December 31, 2020. This marked the fifth consecutive year that the company, which is merging with Endeavour Mining, attained record yearly gold production and... →

Itochu to exit thermal coal business, sell stakes in mines by March 2024

By: Reuters 13th January 2021 Japanese trading house Itochu said on Wednesday it plans to exit the thermal coal business, selling its stakes in mines in Columbia and Australia by March 2024 as it aims to promote decarbonisation. Itochu's statement was the first confirmation from the company that it would completely withdraw... →

The Maules Creek mine

Lundin reports successful first year of output from Ecuador mine

By: Marleny Arnoldi 13th January 2021 TSX-listed Lundin Gold managed to produce 242 400 oz of gold at the end of last year, since starting commercial production at the Fruta del Norte mine, in Ecuador, on March 1. By the fourth quarter, the project was milling about 337 000 t at an average throughput of 3 665 t/d. The average grade... →

Automotive sector to drive major silver demand

By: Donna Slater 13th January 2021 Silver lobby non-profit organisation the Silver Institute reports that a growing reliance on silver for technological advances by automotive manufacturers is resulting in “powerful demand” for the precious metal. The organisation projects that the nearly 90-million ounces a year of silver will... →

Nevada Copper reports strong investor demand in offering

By: Creamer Media Reporter 13th January 2021 Toronto-listed Nevada Copper has upsized its bought-deal public offering following strong investor demand. The company on Monday announced a C$21.5-million offering to bolster its balance sheet to complete the ramp-up of its Pumpkin Hollow underground project, in the US, but on Tuesday increased... →

Okapi makes a move on Enmore

By: Esmarie Iannucci 13th January 2021 ASX-listed Okapi Resources will proceed with the acquisition of the Enmore gold project, in New South Wales, after completing a successful due diligence. The junior in December announced a heads of agreement under which it would acquire the gold project for a A$75 000 cash payment and the issue... →

Tesoro SPP exceeds plans

By: Esmarie Iannucci 13th January 2021 Junior Tesoro Resources on Wednesday revealed that its December share purchase plan (SPP) had closed significantly oversubscribed, with the company receiving valid applications for some a$4.5-million worth of shares. The applications received exceeded the A$3-million target set by the SPP,... →

Cardinal directors take up Shandong's offer

By: Esmarie Iannucci 13th January 2021 The directors of ASX and TSX-listed Cardinal Resources have all accepted a takeover offer from Chinese suitor Shandong Gold Mining, and have urged the company’s remaining shareholders to do the same before the end of the offer period on January 19. Shandong Gold Mining on Wednesday had a 92.29%... →

Newcrest approves Havieron spend

By: Esmarie Iannucci 13th January 2021 The board of gold miner Newcrest Mining has approved the A$146-million construction of the Havieron project, in Western Australia, following the receipt of the necessary regulatory approvals. The investment would fund the construction of the box cut operation, exploration decline and associated... →

Kirkland Lake posts increased production

By: Esmarie Iannucci 13th January 2021 Triple listed gold miner Kirkland Lake Gold has reported a 32% increase in gold production during the fourth quarter ended December, compared with the previous corresponding period. The ASX, TSX and NYSE listed company on Wednesday announced that all three of its cornerstone assets had achieved... →

Calibre sees 30% output growth in 2021

By: Mariaan Webb 13th January 2021 Gold mining and exploration company Calibre, which operates mines in Nicaragua, has exceeded the high-end of its 2020 production guidance and is forecasting a 30% increase in output this year. The Toronto-listed company produced 136 009 oz and sold 135 357 oz in 2020. The guidance for the year... →

Norway eyes sea change in deep dive for metals instead of oil

By: Reuters 13th January 2021 Norway's oil and gas reserves have made it one of the world's wealthiest countries but its dreams for deep-sea discovery now centre on something different. This time, Oslo is looking for a leading role in mining copper, zinc and other metals found on the seabed and in hot demand in green... →

Native Americans sue Trump administration over Arizona copper project

By: Reuters 13th January 2021 Members of the San Carlos Apache tribe in Arizona on Tuesday said they have sued the Trump Administration to block a pending land swap that would give Rio Tinto the land it needs to build its Resolution Copper project. Apache Stronghold, a non-profit organisation that filed the lawsuit in the US... →

Former Eskom manager held 'secret' meetings with Tony Gupta over Tegeta contract

By: News24Wire 12th January 2021 Former Eskom manager, Ayanda Ntetha told the Zondo Commission of Inquiry on Tuesday that she had secret meetings with Tony Gupta at his Saxonwold home to discuss a coal supply contract between the power utility and Tegeta, a mining business owned by the politically connected family. Nteta, who... →

ERG among first major companies to support royal Terra Carta initiative

By: Marleny Arnoldi 12th January 2021 Eurasian Resources Group (ERG) is among the first 25 organisations in the world to support the Terra Carta initiative that was launched by the Prince of Wales on January 12. The initiative provides a roadmap to 2030 in moving towards a sustainable future that is rooted in the transformative... →

Battery metals demand expected to rise in 2021

By: Simone Liedtke 12th January 2021 Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) expects the demand for key battery metals to rise in the coming year as renewable energy and technology adoption continues to pick up pace. The acceleration to a... →

Botswana's Masisi joins list of Presidents to address Mining Indaba

By: Donna Slater 12th January 2021 Botswana President Mokgweetsi Masisi has added his name to the upcoming virtual Mining Indaba to be held from February 2 to 3. He joins other Presidents, including South Africa Cyril Ramaphosa, Sierra Leone’s Julius Maada Bio and the Democratic Republic of Congo’s Félix Tshisekedi, who have been... →

The essential role of platinum group metals in ‘greening’ the world needs highlighting

By: Martin Creamer 12th January 2021 The ‘greenness’ that South Africa can help bestow on the world needs hard sell now, Mining Weekly can today report. While South Africa’s amazing platinum group metals (PGMs) continue their decades-long task of cleaning the air of the world’s cities in the autocatalytic convertors of vehicle... →

Photo by Hyundai Truck & Bus
'Green' hydrogen and fuel cells named by Lux Research as two of top-five energy technologies.

BlueRock achieves 25% y/y increase in 2020 output

By: Simone Liedtke 12th January 2021 Aim-listed diamond producer BlueRock Diamonds processed 402 000 t during its 2020 financial year, which resulted in the recovery of 15 371 ct, an increase of 25% year-on-year, despite the Kareevlei diamond mine, in South Africa, having been closed for 50 days during a strict Covid-19-related... →

First Cobalt inks cobalt hydroxide feed arrangements for refinery

By: Donna Slater 12th January 2021 TSX-listed cobalt refiner and miner First Cobalt has entered into long-term cobalt hydroxide feed arrangements with diversified miner Glencore and IXM SA − a fully owned subsidiary of China Molybdenum Company (CMOC) − to provide 4 500 t/y of contained cobalt to the First Cobalt Refinery from... →

The First Cobalt refinery

M&A challenges remain, but so do lessons – law firm

By: Marleny Arnoldi 12th January 2021 Global law firm Herbert Smith Freehills (HSF) says many of last year’s uncertainties that impacted merger and acquisition (M&A) activity will remain this year. HSF global M&A head Gavin Davies says the significant regional and global questions from 2020 have not gone away, although some have... →

Philippines' Duterte stops mining on 'devastated' southern island

By: Reuters 12th January 2021 Philippine President Rodrigo Duterte has ordered a halt to all mining on an island in a southern province that is home to some of the country's nickel projects, a Cabinet official said on Tuesday. Duterte was "very much concerned" about reports that the Tumbagan Island in Languyan, in Tawi-Tawi... →

Katoro progresses drilling programme at Haneti

By: Tasneem Bulbulia 12th January 2021 Aim-listed Katoro Gold has recorded progress on the maiden drill programme targeting the discovery of nickel and platinum group metals (PGM) at the Haneti nickel project, in Tanzania. Katoro holds a 65% ownership interest in Haneti with 35% held by Power Metal Resources. →

Gold investors target 'excessive' executive payouts amid deals

By: Reuters 12th January 2021 Gold investors critical of lavish executive payouts plan to vote down compensation at upcoming annual shareholder meetings, as soaring prices for the precious metal spur dealmaking. It is the latest knock against an industry that had only recently won back investor favor after being shunned due... →

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