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Rising silver output and prices lift Hecla results

By: Marleny Arnoldi 7th August 2020 NYSE-listed Hecla Mining managed to achieve a second-highest quarterly production of silver, since 2016, in the three months ended June 30, despite being amid the Covid-19 pandemic. More output combined with higher silver prices enabled the precious metals miner to generate 25% more revenue... →

High-flying AngloGold posts colossal free cash surge as it weathers Covid disruption

By: Martin Creamer 7th August 2020 Gold mining company AngloGold Ashanti on Friday posted a colossal surge in half-year free cash flow generation, most of it coming in the three months to June 30. Free cash flow before growth capital, the metric on which dividends are calculated, rose 376% - or nearly fivefold - to $324-million... →

Iamgold cuts guidance on Rosebel’s Covid suspension

By: Mariaan Webb 6th August 2020 700 000 oz, reflecting the suspension of operations at the Rosebel mine in response to Covid-19 being detected among workers. Operations at the mine in Suriname were halted on June 12. The suspension was lifted on July 24, once national health authorities confirmed it was safe to do so. The... →

UIF will continue to process new claims

By: Sane Dhlamini 4th August 2020 The Department of Employment and Labour together with the National Economic Development and Labour Council social partners have announced that the Unemployment Insurance Fund will continue processing new claims for April and May until a cut-off date is announced. A 14-day notice window will be... →

WA invests in exploration

By: Esmarie Iannucci 4th August 2020 The Western Australian state government on Wednesday announced A$8.2-million in funding for resource exploration in the state, to help drive economic recovery post Covid-19. An additional A$5-million will be made available to the Exploration and Incentive Scheme (EIS) and A$3.2-million for a new... →

Energy Fuels optimistic about US uranium developments

By: Mariaan Webb 3rd August 2020 Uranium and rare earths elements (REE) company Energy Fuels CEO Mark Chalmers is optimistic that the proposed $1.5-billion to create a US uranium reserve will be funded and implemented, despite sometimes “slow and uneven” progress in the government. “Our allies in Congress and the Trump... →

Results show Boeing hit hard by both Covid-19 and continued 737 MAX grounding

By: Rebecca Campbell 31st July 2020 Giant US aerospace group Boeing has reported that its revenues for the first half of this year (1H20) were 26% down on those for the same period last year (1H19). In numbers, 1H20 revenues came to $28.72-billion as against $38.67-billion in 1H19. It suffered a net loss of $3.04-billion in 1H20... →

Savannah restart as early as H1 2021

By: Esmarie Iannucci 31st July 2020 ASX-listed Panoramic Resources has flagged a potential restart of its Savannah nickel project, in Western Australia, in the first half of 2021. Panoramic in April this year temporarily suspended operations at the Savannah project, amid the Covid-19 outbreak, as the pandemic adversely impacted... →

Eldorado Gold swings to profit, maintains guidance

By: Marleny Arnoldi 31st July 2020 Canadian miner Eldorado Gold has advised that all its mines are fully operational, with safe working practices in place, and has maintained its guidance for the year at between 520 000 oz and 550 000 oz. The company produced 137 782 oz of gold in the second quarter, which was a 50% increase on... →

Glencore’s strong first-half positions it for top-end marketing earnings

By: Martin Creamer 31st July 2020 Diversified mining and marketing company Glencore has delivered an overall strong first-half operating performance amid the unprecedented challenges presented by Covid-19. “This reflects both the ability and dedication of our teams to adapt to these difficult conditions,” said Glencore CEO Ivan... →

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