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Mining News

Miners well represented in TSX’s top 30-stock ranking

By: Mariaan Webb     16th September 2020 Mining, exploration and development companies are well represented in the 2020 TSX30 – a programme that showcases the TSX’s 30 top-performing stocks that represent sustained excellence over the long term. Mining companies represent 14, or nearly half, of the TSX30, which ranks stocks based on... 

Resources Watch  

16th September 2020 This week: Platinum has potential to be three-times-bigger $35bn-a-year industry Data key to long-term optimization And, prize potentially large in platinum fuel cell and hydrogen growth 

Resources Watch

Grassy Mountain feasibility ‘everything we hoped for’ – Paramount COO

By: Mariaan Webb     16th September 2020 The feasibility study for the Grassy Mountain gold project, in eastern Oregon, has outlined an underground mining operation with a strong net present value (NPV) of and internal rate of return (IRR) results, as well as a low initial capital and low all-in sustaining costs (AISC). At a base case... 

US to remove tariffs on Canadian aluminum, Ottawa drops threat of retaliation

By: Reuters     16th September 2020 The Trump administration said on Tuesday it will remove 10% US tariffs on raw Canadian aluminum as long as imports of the metal stay below levels that are expected to "normalise" over the next four months. In response, Canada dropped a threat to impose billions of dollars of retaliatory... 

Freeport does not want to be 'distracted' by buyout offers, CFO says

By: Reuters     16th September 2020 Freeport-McMoRan does not want to be distracted by any buyout offers and is focused on expanding its Grasberg copper-and-gold mine in Indonesia and boosting cash flow, CFO Kathleen Quirk said on Tuesday. Executives at rival miner Barrick Gold have openly talked in recent months about their... 

Great opportunity to lock in higher gold price for future – Harmony  

By: Martin Creamer     16th September 2020 The current gold price presents a great opportunity to lock in the higher price for the future, says Harmony Gold FD Boipelo Lekubo, against the backdrop of Harmony’s hedging programme realising gains of R2.2-billion since its inception, but the recent dollar and rand gold prices also negatively... 

Great opportunity to lock in higher gold price for future – Harmony
Photo by Creamer Media
Harmony Gold financial director Boipelo Lekubo

Sipa finds exploration funds

By: Esmarie Iannucci     16th September 2020 Junior Sipa Resources will raise A$2.3-million in a share placement to fund exploration work in Western Australia. The explorer on Wednesday said that it has received firm commitments for the placement of some 32.3-million shares, at a price of 7.2c each, which represented a discount of 17.5% to... 

Comet secures A$20m for gold development

By: Esmarie Iannucci     16th September 2020 Metals explorer Comet Resources has reached a streaming agreement for up to $20-million for the development of its Santa Teresa gold project, in Mexico. The company has inked binding documents with Raptor Capital International for the provision of a streaming facility to provide a minimum of... 

BCI completes institutional raise

By: Esmarie Iannucci     16th September 2020 ASX-listed BCI Minerals has completed the institutional component of its entitlement offer, raising an initial A$20.8-million. BCI earlier this week announced plans to raise A$48-million through a fully underwritten one-for-two accelerated and non renounceable entitlement offer, to allow for the... 

BCI completes institutional raise

Sheffield moves ahead with Thunderbird work

By: Esmarie Iannucci     16th September 2020 Mineral sands miner Sheffield Resources on Wednesday told shareholders that a work programme has started to ensure the completion of a bankable feasibility study (BFS) on the revised scope of its Thunderbird project, in Western Australia, to assure a final investment decision is reached ahead of... 

Decmil wins Iron Bridge work

By: Esmarie Iannucci     16th September 2020 Contractor Decmil has been awarded a A$41-million contract to undertake non-mining process infrastructure works at the $2.6-billion Iron Bridge magnetite project, in the Pilbara. Under the scope of the work, Decmil will design and construct a bulk fuel storage and transfer facility, a mobile... 

Digital technologies drive transformation in mining

By: Simone Liedtke     15th September 2020 With many things having changed, never to be the same, Microsoft South Africa enterprise director Amr Kamel says of the power of technology: “It will always help people and organisations to adapt, re-invent and transform”. South Africa’s mining industry contributed R360-billion to the country's... 

Digital technologies drive transformation in mining
Microsoft South Africa enterprise director Amr Kamel

Mkango's Malawi exploration unearths interesting grades of rutile

By: Donna Slater     15th September 2020 Aim- and TSX-V-listed Malawi-focused rare earth element explorer Mkango Resources reports that the reconnaissance shallow soil sampling and auger programme at its Mchinji licence area has returned interesting grades of rutile plus anatase. The results demonstrate the presence of... 

Court order affords interested, affected persons automatic access to mining right applications  

By: Marleny Arnoldi     15th September 2020 The Department of Mineral Resources and Energy (DMRE) has welcomed an order handed down by the High Court in Pretoria related to access to information and how it may be obtained. The court declared that interested and affected parties, as contemplated by the Mineral and Petroleum Resources... 

Mponeng integration presenting ‘wonderful opportunities’ – Harmony Gold  

By: Martin Creamer     15th September 2020 The integration of Mponeng underground gold mine and Mine Waste Solutions surface gold recovery operation into Harmony Gold was presenting “wonderful opportunities” in the West Wits area, Harmony CEO Peter Steenkamp said on Tuesday. Harmony, which will be on site at Mponeng and Mine Waste... 

Mponeng integration presenting ‘wonderful opportunities’ – Harmony Gold
Harmony Gold presentation of results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Kansanshi reserves rise 70%, sets the stage for potential restart of S3 expansion

By: Marleny Arnoldi     15th September 2020 The mineral reserve at TSX-listed First Quantum Minerals' Kansanshi mine, in Zambia, has increased by 70% to an estimated 842-million tonnes, grading 0.64% copper, while the mine's mineral resource has increased by 40% to an estimated 939-million tonnes, grading 0.67% copper. This compares with... 

Fortescue says it won't consider heritage resolution at AGM

By: Reuters     15th September 2020 Fortescue Metals Group said on Tuesday it will not consider a shareholder resolution at its annual general meeting that called on the iron-ore miner to halt activities that could damage Aboriginal cultural heritage sites. The move comes on the heels of growing scrutiny on resource projects in... 

BHP freezes executive salaries as CEO Henry takes $6.1m for first 6 months

By: Reuters     15th September 2020 Global miner BHP Group said in its annual report on Tuesday that it froze salaries of key leadership personnel for the coming financial year, while CEO Mike Henry received $6.1-million in the first six months on the job. Henry, who became chief executive on January 1 this year, was set a salary... 

BHP freezes executive salaries as CEO Henry takes $6.1m for first 6 months
Mike Henry

CAML reports tailings leak in North Macedonia

By: Creamer Media Reporter      15th September 2020 London-listed Central Asia Metals has suspended the processing plant at its Sasa operation, in North Macedonia, following a leakage of tailings from TSF4 into a local river. The leakage was detected on Monday morning and was stopped soon after. The company says it has informed relevant parties... 

Mahenge meets new rules - Black Rock

By: Esmarie Iannucci     15th September 2020 Graphite developer Black Rock Mining on Tuesday settled concerns around the Tanzanian government’s new mining regulations, saying the proposed Mahenge project adhered to the export regulations. The Tanzanian government officially published regulations concerning graphite concentrate exports,... 

Kenmare WCP B relocation under way in Mozambique

By: Tasneem Bulbulia     15th September 2020 The relocation of the Wet Concentrator Plant (WCP) B at Kenmare Resources' Moma titanium minerals mine, in northern Mozambique, is under way. Kenmare previously announced three development projects that, together, have the objective of increasing yearly ilmenite production to 1.2-million tonnes... 

Emmerson’s Khemisset potash project a step closer to construction

By: Donna Slater     15th September 2020 Morocco-focused potash development company Emmerson’s 100%-owned Khemisset potash project in Northern Morocco is a step closer to construction with a detailed risk analysis having been completed to identify the areas that need further work to mitigate the risks and prepare the project for funding... 

Mayur increases PNG coal resource

By: Esmarie Iannucci     15th September 2020 ASX-listed Mayur Resources has increased the inferred Joint Ore Reserves Committee-compliant resource at its Depot Creek coal project, in Papua New Guinea. The company on Tuesday announced that the inferred resource was now estimated at 12.8-million tonnes, up from the previous estimate of... 

MegumaGold buys fellow explorer Osprey Gold

By: Creamer Media Reporter      15th September 2020 Explorer MegumaGold has completed its acquisition of Osprey Gold Development, consolidating their respective land packages in Nova Scotia. Former Osprey president Cooper Quinn, and now MegumaGold board member, states that the combined company holds an “excellent” suite of assets, from... 

KOTH proves up for Red 5

By: Esmarie Iannucci     15th September 2020 A final feasibility study (FFS) into the King of the Hills gold project, in Western Australia, has confirmed the technical and financial viability of a new four-million tonne a year mining and processing operation which could be expanded to six-million tonnes a year. Owner Red 5 said that the... 

Wallbridge signs term sheet with Kirkland over Detour East

By: Mariaan Webb     15th September 2020 Toronto-listed miner Wallbridge Mining has announced a term sheet with fellow listed Kirkland Lake, granting the company the opportunity to earn 75% into its Detour East gold property. In terms of the non-binding term sheet, Kirkland could earn the interest by spending c$35-million on the... 

Botswana Diamonds plans more drilling after anomaly shows up to 4 m kimberlite

By: Marleny Arnoldi     15th September 2020 Botswana- and London-listed Botswana Diamonds (BOD) has reported positive preliminary results from drilling undertaken at its Marsfontein project, in Botswana. The objective of the company’s latest drilling campaign was to test a historical anomaly identified as M17 to see if it had potential... 

Renard diamond mine to restart operations

By: Mariaan Webb     15th September 2020 The Renard mine, in the James Bay territory of Quebec, will be put back into production this month, mining royalty and streaming company Osisko Gold Royalties announced on Monday. Operations were suspended on March 24, following an order by the Quebec government public health authorities as a... 

Renard diamond mine to restart operations

China's CATL to invest in Neo Lithium, help develop Argentina mine

By: Reuters     15th September 2020 China's CATL will buy more than 10-million shares of Neo Lithium to become the company's third-largest shareholder, the latest in a string of investments by Chinese companies into South American lithium projects. The deal, announced on Monday, comes as demand for the electric vehicle battery... 

US seeks to lower Russian uranium imports to boost US nuclear industry

By: Reuters     15th September 2020 The US Commerce Department on Monday inked a draft agreement with Russia's state nuclear energy company to reduce imports of uranium from Russia over the next 20 years in a bid to boost domestic mining and nuclear energy. The Commerce Department and Rosatom initialed the draft amendment to the... 

US seeks to lower Russian uranium imports to boost US nuclear industry

Codelco reaches contract agreement with El Teniente supervisors

By: Reuters     15th September 2020 Chile's State-owned copper miner Codelco said on Monday it had reached a contractual agreement with the supervisors' union at El Teniente mine, reflecting the new constrained realities of the industry following the economic blow dealt by the Covid-19 pandemic. The company said in a statement the... 

PEA outlines underground expansion extending Santa Rita to 34 years

By: Simone Liedtke     15th September 2020 A preliminary economic assessment (PEA) has confirmed the low-cost and long-life potential of Atlantic Nickel and Appian Capital Advisory's Santa Rita nickel/copper/cobalt mine, in Brazil. The PEA outlines a 34-year mine life, which includes a transition to underground mining after 8 years of... 

PEA outlines underground expansion extending Santa Rita to 34 years

Harmony Gold’s free operating cash soars 

By: Martin Creamer     15th September 2020 Gold mining company Harmony Gold on Tuesday reported 106% increase in operating free cash flows on a 25% improvement in the rand gold price to R735 569/kg in financial year 2020, resulting in a 9% increase in revenue to R29.25-billion.  In the year to June 30, the company, headed by CEO Peter... 

Harmony Gold’s free operating cash soars
Harmony CEO Peter Steenkamp

Artemis sells Novo shares

By: Esmarie Iannucci     15th September 2020 ASX-listed Artemis Resources has raised A$5.78-million following the sale of its 1.64-million shares in TSX-V listed Novo Resources. Artemis on Tuesday told shareholders that an average sale price of C$3.40 had been achieved per share. 

WA govt approves Fenix permits

By: Esmarie Iannucci     15th September 2020 Junior Fenix Resources has secured approvals from the Western Australian Department of Mines, Industry Regulation and Safety for the project management plan and clearing permit for Stage 1 of its Iron Ridge direct shipping ore (DSO) project. Fenix on Tuesday said that the approvals would allow... 

Cardinal directors sell shares

By: Esmarie Iannucci     15th September 2020 The directors of ASX- and TSX-listed Cardinal Resources have accepted the takeover offer from suitor Shandong Gold Mining for their interest in the company. The Cardinal directors collectively hold some 60.7% in the company. 

Morrison unveils gas plans

By: Esmarie Iannucci     15th September 2020 The federal government has announced plans to re-set the east coast gas market and create a more competitive and transparent gas hub by unlocking gas supply, delivering an efficient pipeline and transportation market, and empowering gas customers. Prime Minister Scott Morrison on Tuesday... 

Morrison unveils gas plans
Photo by Bloomberg
Australian Prime Minister Scott Morrison
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