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Australasia News

Price-spiking palladium must be substituted with platinum – Sibanye-Stillwater 

By: Martin Creamer     Updated 7 hours ago It is incumbent on the end users to help platinum group metals mining companies to a position where the platinum price will not be destroyed, Sibanye-Stillwater CEO Neal Froneman said on Wednesday. Speaking during the presentation of superlative results, Froneman said the industry could not... 

Hydrogen fuel cells the next big disruptive technology – Sibanye-Stillwater  

By: Martin Creamer     19th February 2020 The next big disruptive technology will be hydrogen fuel cell technology, which is platinum rich, Sibanye-Stillwater CEO Neal Froneman said on Wednesday. Speaking ahead of half-year results of a 44% increase in revenue to R73-billion and a R432-million profit for 2019, Froneman stated that this... 

Hydrogen fuel cells the next big disruptive technology – Sibanye-Stillwater
Sibanye-Stillwater CEO Neal Froneman talks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer. Photographs: Donna Slater.

Sibanye-Stillwater delivers phenomenal 260% return – JSE 

By: Martin Creamer     19th February 2020 Top-performing Sibanye-Stillwater delivered a phenomenal return of 260% on the Johannesburg Stock Exchange in 2019, JSE CEO Dr Leila Fourie stated on Wednesday when the company relisted to the accompaniment of a rapid 5.3% early-afternoon soaring of its share price. From a Gold Fields spinoff... 

Sibanye-Stillwater delivers phenomenal 260% return – JSE
Photo by Creamer Media's Donna Slater
Sibanye-Stillwater's ceremony at JSE

Lucapa keeps digging at Lulo

By: Esmarie Iannucci     19th February 2020 Diamond miner Lucapa will continue the hunt for the primary hard-rock sources of alluvial diamonds at its Lulo mine, in Angola, noting that the first stream bulk samples excavated from the Canguige tributary had resulted in the recovery of 45 diamonds weighing 30.3 ct. The bulk sample included... 

Moody’s expanded gold price range allows for flexibility in credit assessments

By: Marleny Arnoldi     19th February 2020 Ratings agency Moody’s has expanded its price sensitivity range for gold, based on supportive factors such as lower-for-longer interest rates and geopolitical uncertainties. Moody’s has increased the higher end of the sensitivity range by $100/oz to $1 400/oz, while the lower end of the range... 

New Hope output picks up despite New Acland delays

By: Esmarie Iannucci     19th February 2020 Coal miner New Hope has reported a 9% increase in coal production for the quarter ended January, and an 84% increase in production in the six months ended January, as the Bengalla project, in New South Wales, increased output. Total saleable coal production for the quarter reached 2.8-million... 

Mt Gibson's revenue soars

By: Esmarie Iannucci     19th February 2020 Junior miner Mount Gibson Iron has reported higher revenues for the first half of 2020, on the back of increased iron-ore production. Mount Gibson on Wednesday reported that iron-ore sales for the six months to December had reached 2.8-million tonnes, up from the 2.2-million tonnes produced in... 

TerraCom's offer for Universal gains traction

By: Esmarie Iannucci     19th February 2020 Suitor TerraCom’s takeover offer for ASX-listed Universal Coal seems to have gained traction with shareholders, despite Universal’s obvious reluctance. TerraCom on Wednesday announced that acceptances to date, when aggregated with TerraCom’s existing interest in Universal, gave the company over... 

Gold tops $1 600 as virus fuels growth fears

By: Bloomberg     19th February 2020 Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus and how it’s impacting global growth. Palladium topped $2 700/oz as it continued its record-breaking rally. Bullion steadied after surging 1.3% Tuesday’s as Apple’s warning that the virus and efforts... 

More offtake secured at Lake Way

By: Esmarie Iannucci     19th February 2020 Potash developer Salt Lake Potash has inked a binding term-sheet with trading and investment giant Mitsui & Co for the sale of sulphate of potash (SOP) from its Lake Way project, in Western Australia, into Bangladesh, Cambodia, Japan, Malaysia, the Philippines, South Korea, Sri Lanka and Taiwan.... 

Orocobre buys Canadian JV partner

By: Esmarie Iannucci     19th February 2020 Dual listed lithium miner Orocobre has inked a definitive agreement to acquire TSX-V listed Advantage Lithium Corp. Under the terms of the agreement, Advantage shareholders will receive 0.142 Orocobre shares for every one Advantage share held, valuing the takeover target’s shares at 42c each,... 

Funds raised for Fort Cady project

By: Esmarie Iannucci     19th February 2020 ASX-listed American Pacific has raised A$7.1-million through a share placement to fund construction activities at its Fort Cady borate mine, in Southern California. The company placed more than 17-7-milliion shares, at a pri9ce of 40c each to institutional, profession and sophisticated... 

Fortescue's new mix and higher prices pay off

By: Esmarie Iannucci     19th February 2020 Iron-ore major Fortescue Metals has reported record half year revenues during the six months ending December, after iron-ore shipments increased by 7% on the previous corresponding period. Iron-ore shipments in the first half of the 2020 financial year reached 88.6-million tonnes, up from the... 

Fortescue's new mix and higher prices pay off

South Africa’s Astron ‘a nice short to have for the trading business’ – Glencore 

By: Martin Creamer     18th February 2020 Glencore CEO Ivan Glasenberg on Tuesday described his company’s investment in Astron Energy oil refinery and fuel distribution station business in South Africa as “a nice short to have for the trading business”. The Chevron oil refinery in Cape Town and the Caltex brand now fall under Astron... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve 

By: Martin Creamer     18th February 2020 Climate-friendly energy transition metals, copper, cobalt and nickel, stole the limelight during Glencore’s presentation of 2019 results on Tuesday, when the company revealed that it would be depleting its coal reserves in line with the global move towards a low-carbon economy. Presenting... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve
Photo by Bloomberg
Ivan Glasenberg

The top miner’s vision of the future looks a lot like the past

By: Bloomberg     18th February 2020 BHP’s new top executive has a plan to prosper in a world that’s accelerating efforts to cut greenhouse gas emissions – double down on the raw materials that’ve been key through its near 170-year history. The world’s top miner, with roots in a 19th Century tin mine, plans to add more copper and... 

The top miner’s vision of the future looks a lot like the past
BHP CEO Mike Henry

ACCC calls for more gas exploration

By: Esmarie Iannucci     18th February 2020 The Australian Competition and Consumer Commission (ACCC) has called on Australia’s southern state to allow gas exploration in a bid to secure supply. “Southern states risk facing a shortfall in the medium term unless there is more exploration and development in the south, or new infrastructure... 

Glencore provides update on its transition to low-carbon economy

By: Martin Creamer     18th February 2020 JOHANNESBURG (miningweekly.com) – Diversified mining and marketing company Glencore on Tuesday published an update on its performance in transitioning towards a low-carbon economy. This follows its climate change position statement of February 2019. 

Glencore provides update on its transition to low-carbon economy
Photo by Bloomberg
Ivan Glasenderg

Red River sets sights on Liontown

By: Esmarie Iannucci     18th February 2020 Junior base and precious metals producer Red River Resources has announced plans to develop the Liontown deposit as its next mining operation at the Thalanga gold project, in Queensland. An updated mineral resource for the Liontown project is due in March this year, with the miner telling... 

ASX miners join forces in Cloncurry

By: Esmarie Iannucci     18th February 2020 The Cloncurry Alliance, between ASX-listed Oz Minerals and Minotaur Exploration, has inked a joint venture (JV) heads of agreement with fellow-listed Sandfire Resources over a tenement package near Cloncurry, in Queensland. The Sandfire tenements incorporates some 1 226 km2 of tenure immediately... 

Panoramic divests of Horizon shares

By: Esmarie Iannucci     18th February 2020 Nickel miner Panoramic Resources has sold off a portion of its shareholding in fellow listed Horizon Gold. The ASX-listed company on Tuesday told shareholders that it had sold more than 20.23-million Horizon shares at a price of 27c a share to Zeta Resources, raising some A$5.5-million. 

Revenues and profits fall at Oz Minerals

By: Esmarie Iannucci     18th February 2020 Copper miner Oz Minerals has nearly halved its net profits after tax for the full year ending December, with the miner reporting that net profits fell to A$163.9-million from the A$222.4-million reported in the previous full year. Underlying net profits after tax declined from A$228.3-million to... 

BHP CEO says company needs more copper, nickel

By: Reuters     18th February 2020 BHP Group will be looking to expand in copper and nickel to position itself well in a world that is decarbonising, new chief executive Mike Henry said on Tuesday. "We need more copper and we need more nickel," Henry told reporters after saying that the company would need to create more options... 

BHP CEO says company needs more copper, nickel
BHP CEO Mike Henry

Rio submits power plans for Oyu Tolgoi

By: Esmarie Iannucci     18th February 2020 Major Rio Tinto has submitted a feasibility study for the Tavan Tolgoi power plant (TTPP) project, to the government of Mongolia, as part of its electricity solution for the Oyu Tolgoi copper project. The TTPP will involve the construction of a 300 MW coal power plant, with Rio on Tuesday... 

Rio downgrades iron-ore expectations after cyclone

By: Esmarie Iannucci     18th February 2020 Diversified giant Rio Tinto has downgraded its iron-ore export expectations for the full 2020, in the wake of Tropical Cyclone Damien. The miner on Tuesday noted that the cyclone had caused infrastructure damage across its entire Pilbara network, including access roads, electrical and... 

BHP reports solid results for interim period

By: Esmarie Iannucci     18th February 2020 Diversified miner BHP has reported a 20% interest in profits after tax and a 7% increase in revenue for the half year ended December. “We delivered a strong set of half-year results, grounded in solid operational performance,” said CEO Mike Henry on Tuesday. 

BHP reports solid results for interim period

Modernisation, digitisation part of next value delivery – Amplats  

By: Martin Creamer     17th February 2020 Top of the list of the four focus areas of platinum group metals (PGM) mining company Anglo American Platinum (Amplats) to drive its next phase of value is operational efficiency. Outlining this at the company’s presentation of record financial and safety achievements, Amplats CEO Chris Griffith... 

Modernisation, digitisation part of next value delivery – Amplats
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Substitution outlook intensifies with platinum at half palladium price ­– Amplats 

By: Martin Creamer     17th February 2020 With the price of platinum at half of the palladium price, the concept of replacing palladium with platinum in some gasoline catalyst convertors is increasingly likely to occur – but not in the very short term, outgoing Anglo American Platinum (Amplats) CEO Chris Griffith said on Monday.... 

Substitution outlook intensifies with platinum at half palladium price ­– Amplats
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Pensana explores downstream processing possibilities in Angola

By: Tasneem Bulbulia     17th February 2020 ASX-listed Pensana Rare Earths has committed to studying downstream processing of the high-grade magnet metal concentrate it plans to produce at the Longonjo project, in Angola. The study, which will form part of the current definitive feasibility study (DFS), will investigate the feasibility of... 

Hydrogen fuel cell mining set to cut Amplats’ greenhouse gas emissions – Griffith  

By: Martin Creamer     17th February 2020 The introduction of hydrogen fuel cell mining in response to climate change is poised to cut the greenhouse gas emissions of platinum group metals mining company Anglo American Platinum by 30%. A large enabler of this significant reduction is the introduction of hydrogen fuel cell mining trucks,... 

Hydrogen fuel cell mining set to cut Amplats’ greenhouse gas emissions – Griffith
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Rio Tinto to build 34 MW solar plant at Pilbara mine

By: Mariaan Webb     17th February 2020 Diversified mining company Rio Tinto is investing in its first company-owned solar facility, with about 100 000 solar panels set to supply electricity to its new Koodaideri mine in Australia’s Pilbara. The company is investing $98-million in a 34 MW solar photovoltaic (PV) plant, which is... 

Rio Tinto to build 34 MW solar plant at Pilbara mine

Resgen seeking shareholder approval for Boikarabelo mine funding

17th February 2020 Emerging ASX- and JSE-listed energy company Resource Generation (Resgen) plans to obtain shareholder approval for parts of the mine funding package for the construction of the Boikarabelo coal project, in South Africa’s Limpopo province. The company on Monday said it had determined that several... 

Matador raises funds for Canadian exploration

By: Esmarie Iannucci     17th February 2020 Junior Matador Mining has raised more than A$5-million in a share placement to institutional, professional and sophisticated investors, to complete a scoping study on the Cape Ray gold project, in Canada. The placement consisted of more than 24.1-million shares, at a price of 20c each and was... 

Regis posts record profit on higher gold price

By: Esmarie Iannucci     17th February 2020 ASX-listed gold miner Regis Resources has reported a record net profit after tax of A$93.4-million for the half-year ended December, on the back of increased gold prices. During the interim period, Regis sold 183 807 oz of gold, down slightly from the 186 276 oz sold during the previous... 

Sheffield rethinks Thunderbird plans

By: Esmarie Iannucci     17th February 2020 The share price of mineral sands developer Sheffield Resources dropped by nearly 15% on Monday after the company announced a re-think at its Thunderbird project, in Western Australia. Sheffield told shareholders that following a strategic business review, the company has decided to pause the... 

Sheffield rethinks Thunderbird plans

Super Pit leaves Saracen with higher profits

By: Esmarie Iannucci     17th February 2020 Gold miner Saracen Mineral Holdings has reported an 84% increase in underlying net profit after tax for the six months ended December, as production from the company’s newly acquired 50% stake in the Super Pit mine, in Kalgoorlie, started to pay dividends. Gold production for the interim period... 

Resolute adds to US hedgebook

By: Esmarie Iannucci     17th February 2020 Dual listed gold miner Resolute Mining has forward sold a further 30 000 oz of gold, at a price of $1 590/oz for scheduled monthly deliveries of 5 000 oz a month between January and June next year. “Incremental expansion of our US dollar hedging position at levels which are significantly above... 

Legal stoush looms for Universal and TerraCom

By: Esmarie Iannucci     17th February 2020 Suitor TerraCom on Monday said that it would defend itself against any proceedings brought on by coal miner Universal Coal, after the takeover target warned that it would start litigation to impose a sanction on TerraCom to limit its ultimate stake in Universal. TerraCom last week officially... 

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