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Moneta Porcupine announces PEA for South West deposit

By: Creamer Media Reporter 10th September 2020 TSX-listed Moneta Porcupine has announced the results from a preliminary economic assessment (PEA) on the South West deposit, at its Golden Highway project in Timmins, Ontario. The PEA is based on a standalone, owner-operated mine and mill with an 11-year mine life, producing 75 700 oz/y at a... →

Hudbay upsizes offering to $600m

By: Creamer Media Reporter 10th September 2020 Metals miner Hudbay Minerals has priced an upsized offering of $600-million aggregate principal amount of 6.125% senior notes due 2029. The size of the offering was increased from the previously announced $500-million aggregate principal amount. The new notes, expected to close on September 23,... →

Sibanye-Stillwater eyes battery metals

By: Nadine James 10th September 2020 Having started its diversification strategy by venturing into platinum-group metals (PGMs) in 2016, Sibanye-Stillwater CEO Neal Froneman says the company is now considering diversifying into battery metals. In response to a question posed during the PGMs Industry Day on September 9, he stated,... →

Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Pebble owner Northern Dynasty in short-seller JCAP’s sight

By: Mariaan Webb 10th September 2020 Short-seller JCAP has a new exploration and development company in its sights – Toronto-listed Northern Dynasty, which is seeking to build the contentious Pebble copper/gold project in Alaska. The company on Wednesday published a scathing report on Northern Dynasty, charging that the developer... →

Medupi conveyor belt failure raises risk of load-shedding

By: Simone Liedtke 10th September 2020 State-owned power utility Eskom on September 10 warned of an increased risk of load-shedding following the failure of a conveyor belt feeding coal into the Medupi generation units on September 9. This means the four generation units in service are not able to take in the requisite amount of coal... →

Barrick CEO faces stark test in fight for Papua New Guinea mine

By: Reuters 10th September 2020 A standoff over a remote gold mine in Papua New Guinea threatens Barrick Gold CEO Mark Bristow's streak of resolving thorny disputes with host governments, in the first major test he has faced outside his home patch of Africa. Barrick, the world's second-largest gold producer, lost a key court... →

Maximus raises exploration funds

By: Esmarie Iannucci 10th September 2020 Gold and metals explorer Maximus Resources will raise A$3.1-million through a share placement to institutional, sophisticated and existing shareholders. The company has completed a bookbuild for the capital raise, and will place more than 31.5-million new shares at a price of 9.5c each. →

Kingsgate finds buyer for Chatree sludge

By: Esmarie Iannucci 10th September 2020 Junior gold miner Kingsgate Consolidated has been granted permission by the Thai government to sell the gold and silver sludge at its Chatree gold mine to a Thai refinery. The sludge is estimated to contain some 4 750 oz of gold and 34 800 oz of silver, valued at around A$14-million at a gold... →

Plomosas offtake secured for 2021

By: Esmarie Iannucci 10th September 2020 ASX-listed Consolidated Zinc has secured offtake agreements for 100% of the zinc concentrate production expected from its Plomosas mine, in Mexico, for 2021. The company on Thursday reported that its subsidiary Minera Latin American Zinc had executed an extension of the zinc concentrate offtake... →

Iluka announces royalty demerger

By: Esmarie Iannucci 10th September 2020 The shareholders of mineral sands miner Iluka are expected to meet on October 16 to vote on the demerger of the company’s royalty business Deterra Royalties. The directors of Iluka have unanimously recommended that shareholder vote in favour of the proposed demerger, which would result in two... →

Core looks at divesting silver assets

By: Esmarie Iannucci 10th September 2020 Lithium developer Core Lithium has flagged the potential sale of its non-core silver assets in the Northern Territory. The company on Thursday said that it had received a number of expressions of interest for its Blueys Silver project, where drilling had previously intercepted grades of up to 1... →

Superior Lake vends Canadian zinc project

By: Esmarie Iannucci 10th September 2020 ASX-listed Superior Lake Resources on Thursday unveiled plans to vend its interest in its namesake zinc project, in Ontario, into a TSX-V listed company called CROPS Inc. The company told shareholders that since completing a bankable feasibility study (BFS) in 2019, Superior Lake had received... →

Lynas completes part of A$425m raise

By: Esmarie Iannucci 10th September 2020 Rare earths miner Lynas has completed the retail component of its 1-for-7.7 pro rata accelerated non-renounceable entitlement offer, raising A$114-million. The entitlement offer is part of a larger A$425-million equity raise to fund the company’s Lynas 2025 foundation projects, including the... →

Platinum has potential to be three-times-bigger $35bn-a-year industry – Minerals Council

By: Martin Creamer 9th September 2020 Instead of being the $11-billion-a -year type industry that it is today, the platinum business has the potential to be a $35-billion-a-year industry by 2050, Minerals Council South Africa CEO Roger Baxter said on Wednesday. Baxter made this statement in response to a question put to him during a... →

Minerals Council South Africa CEO Roger Baxter address to PGM Day covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mechanisation key to long-term industry sustainability

By: Nadine James 9th September 2020 Conventional platinum group metals (PGMs) producers are likely to struggle into 2037, as their exposure to increasing labour costs and low production rates tighten margins, Platinum Group Metals CEO R Michael Jones said on September 9. Speaking at the PGMs Industry Day hosted online, he cited... →

Gold ETFs record ninth consecutive month of inflows

By: Donna Slater 9th September 2020 Gold-backed exchange-traded funds (ETFs) and similar products recorded their ninth consecutive month of inflows in August, albeit at their slowest pace for this year, adding 39 t during the month – equivalent to $2.1-billion or 0.9% of assets under management (AUM) as the price of gold reached a... →

Global trading platform key to unlocking competitiveness of green hydrogen

By: Terence Creamer 9th September 2020 International cooperation will be key to unlocking the competitive production of green hydrogen as global trade will be required to link those countries, such as South Africa, that are best suited to producing the energy carrier, using a combination of low-cost renewable energy, water and... →

Innovation drives mining efficiency, but also accessibility for women

By: Marleny Arnoldi 9th September 2020 Even though the mining industry has come a long way in providing more opportunities for women, women still only make up 12% of the industry’s workforce. The adoption of new innovations and technology can contribute to increasing the number of women working in the industry, says Women in Mining... →

Promoting hydrogen economy should be No1 priority – RBPlat’s Phiri

By: Martin Creamer 9th September 2020 Promoting the hydrogen economy should be South Africa’s number one priority, Royal Bafokeng Platinum CEO Steve Phiri said on Wednesday. Speaking during a panel discussion on the current state of the platinum group metals industry at the virtual 2020 PGMs Industry Day, Phiri said that this... →

Photo by Creamer Media
Steve Phiri, Andries Rossouw (from left top) and Natascha Viljoen, Nico Muller (from left bottom)

Resolute warns of ten-day strike by workers at Mali mine

By: Creamer Media Reporter 9th September 2020 Dual-listed Resolute Mining has warned of a potential ten-day strike by employees at its Syama mine, in Mali. The gold miner has received a strike notice from the Union Nationale des Travailleurs du Mali SOMISY-SA, informing it that the union members will strike if certain demands are not met. →

Prairie Mining takes Poland to arbitration court over coal mines

By: Reuters 9th September 2020 Australia's Prairie Mining has launched international arbitration proceedings against Poland arguing that Warsaw breached bilateral treaties by blocking Prairie's investment in two coal mines. Prairie Mining, which has been developing the Jan Karski and Debiensko mines in Poland, said last year... →

China possesses huge gemstone potential – Gemfields

By: Donna Slater 9th September 2020 Gemstone miner Gemfields, which operates the Kagem mine, in Zambia, and the Montepuez ruby mine, in Mozambique, has identified “huge potential” to market Zambia’s responsibly-sourced emeralds to consumers in China, the miner reveals in its first report on coloured gemstones in China. The report,... →

Sasol gives insight into its automation, digital journey

By: Simone Liedtke 9th September 2020 Implementing a digital transformation strategy is a “must”, rather than an option, and is driven by both external and internal forces, petrochemicals company Sasol Chemicals digital lead Oratile Sematle said on September 8. Speaking during an automation-themed webinar as part of this year’s... →

IronRidge starts Phase 3 drilling at Zaranou gold project

By: Donna Slater 9th September 2020 Africa-focussed minerals exploration company IronRidge Resources has started its third phase drilling programme within the Zaranou gold project area in Côte d’Ivoire, with about 50 000 m of drilling planned. The licence borders with Ghana and is along strike from significant operating gold mines... →

Data key to long-term optimisation, says SAIMC's first-ever female president

By: Simone Liedtke 9th September 2020 Describing data as the “new oil” or “new water” of the world, Society for Automation, Instrumentation, Mechatronics and Control (SAIMC) president Annemarie van Coller has emphasised the importance of changing data from “just data to insights”. Speaking during an automation-themed webinar hosted... →

SAIMC president Annemarie van Coller gives viewers some insight into the data journey. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

AfriTin ramps up August output to over 37 t of tin concentrate

By: Marleny Arnoldi 9th September 2020 Aim-listed AfriTin Mining has built on production gains made during June and July, with its production in August increasing to 37.5 t of tin concentrate. This follows the completion of modifications at the company’s fines dewatering circuit, at the Uis mine’s processing plant, in Namibia, to... →

Barrick sells rights to Bullfrog Gold

By: Mariaan Webb 9th September 2020 Delaware-based Bullfrog Gold on Tuesday announced a transaction to acquire rights in Nevada from gold major Barrick Gold, along with plans for a C$22-million financing to be completed through Augusta Investments. Upon completion of the transaction, Barrick and Augusta would become new... →

Nova Royalty acquires portfolio of Canadian royalties

By: Creamer Media Reporter 9th September 2020 Vancouver-headquartered Nova Royalty, which is working towards a TSX-V-listing this fall, has entered into a royalty purchase agreement with Transition Metals, pursuant to which Nova will acquire a portfolio of nine royalties. The portfolio includes an existing 1.0% net smelter return (NSR)... →

Gold Terra to earn into ground adjacent to Con mine

By: Mariaan Webb 9th September 2020 TSX-V-listed Gold Terra Resources on Tuesday announced an exploration agreement with gold major Newmont, which could see the junior earn into ground adjacent to the former Con mine, in the prolific Yellowknife mining camp. Gold Terra executive chairperson Gerald Panneton said the agreement with... →

Photo by Alan Sim (via Flickr)
The Con mine, in the Yellowknife mining camp.

Carnaby shakes the tin for exploration work

By: Esmarie Iannucci 9th September 2020 Junior Carnaby Resources will raise A$4-million through a share placement and share purchase plan (SPP) to fund exploration work in Western Australia and Queensland. The bookbuild for a A$3-million share placement has been completed, with Carnaby expected to raise an initial A$2.6-million... →

Petra starts investigation into alleged human rights issues at Williamson

By: Marleny Arnoldi 9th September 2020 UK-based law firm Leigh Day has filed claims in the High Court of England and Wales against London-listed Petra Diamonds and Williamson Diamonds, on behalf of 32 anonymous individuals over alleged human rights breaches at the Williamson mine, in Tanzania. Williamson Diamonds is the operator of... →

Lithium Australia raises cash

By: Esmarie Iannucci 9th September 2020 ASX-listed Lithium Australia has raised A$4.5-million through a share purchase plan (SPP). The SPP, which opened in August, was undertaken in addition to a A$4-million share placement to institutional and sophisticated investors, and allowed existing shareholders to subscribe for up to A$30 000... →

Yamana expects London listing before next month's Q3 results

By: Mariaan Webb 9th September 2020 Canada-based Yamana Gold expects to begin trading on the main market of the LSE before the release of its third-quarter results next month and says it is making good progress with exploration. In an update on Tuesday, the company listed its planned London market debut as a notable upcoming event... →

Mali Lithium raises A$70m for Morila acquisition

By: Esmarie Iannucci 9th September 2020 ASX-listed Mali Lithium on Wednesday announced plans to raise A$70-million to fund the acquisition of acquire the Morila gold mine from majors Barrick and AngloGold Ashanti. The capital raise will consist of a A$64-million share placement, with an additional A$6-million to be raised under a... →

Mayur plans metals spin-out on TSX-V

By: Esmarie Iannucci 9th September 2020 ASX-listed Mayur Resources on Wednesday announced plans to spin out and list its Papua New Guinea (PNG) gold and copper assets into a TSX-V-listed entity. The spin-out and listing is expected to be completed by the end of the year, with the newly listed entity expected to raise some C$5-million... →

Zimbabwe bans mining in wildlife parks

By: Reuters 9th September 2020 Zimbabwe's government has banned mining in game reserves following concerns from conservationists who accused two Chinese companies of exploring for coal in the biggest national park, Hwange. Hwange, in western Zimbabwe, is home to the country's biggest elephant herd - more than 40,000, large... →

Britain blocks plans for new coal mine in northeast England

By: Reuters 9th September 2020 The British government has refused to allow a new open cast coal mine to be built in northeastern England, the Minister for Housing, Communities and Local Government Robert Jenrick said. Northumberland County Council agreed in 2016 that developer The Banks Group could extract three-million... →

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