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South America News

France's Eramet freezes lithium mine project in Argentina

By: Reuters     19th February 2020 Eramet has postponed an Argentine lithium mine project aimed at shifting the group's focus towards electric vehicle minerals, it said, citing economic and regulatory uncertainty in the debt-stricken South American country. The French company had been due to make a final investment decision on... 

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

By: Martin Creamer     19th February 2020 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... 

Price-spiking palladium must be substituted with platinum – Sibanye-Stillwater
Photo by Creamer Media's Donna Slater
Neal Froneman

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

Altus shareholders give go ahead for La Mancha deal

By: Marleny Arnoldi     19th February 2020 Aim- and TSX-V-listed Altus Strategies on Wednesday said its shareholders had approved all resolutions to effect the proposed strategic investment by mining investment group La Mancha Holding in the company. Altus will issue about 124-million new ordinary shares at a price of C$0.09 apiece to... 

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... 

First gold pour at Americas' Relief Canyon

By: Mariaan Webb     19th February 2020 The Relief Canyon gold mine, in Nevada, has successfully poured its first gold and has now completed initial construction within its budget of $28-million to $30-million, TSX- and NYSE American-listed Americas Gold and Silver reported on Tuesday. The first gold pour was achieved in nine months... 

Canada Rare Earth studies location for South American refinery

By: Creamer Media Reporter      19th February 2020 TSX-V-listed Canada Rare Earth has narrowed its search for a location to base its refinery to six regions in South America. The Vancouver-headquartered company, which sources and sells rare earths, says it has launched a study to consider refinery permitting, logistics and government support,... 

Canada Rare Earth studies location for South American refinery

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... 

Hudbay to start mining at Pampacancha in late 2020

By: Mariaan Webb     19th February 2020 The community of Chilloroya has formally approved a surface rights agreement with TSX- and NYSE-listed miner Hudbay for the Pampacancha satellite deposit, located near the Constancia mine, in Peru, paving the way for mining to commence from the deposit in late 2020. Announcing the agreement,... 

Hudbay to start mining at Pampacancha in late 2020
Hudbay president and CEO Peter Kukielski

Chile says copper price to recover soon from coronavirus impact - mining minister

By: Reuters     18th February 2020 Copper prices will rebound in the coming months from a downturn in demand caused by the coronavirus outbreak in China, Chilean Mining Minister Baldo Prokurica said on Tuesday. China reported its fewest new coronavirus infections since January on Tuesday and its lowest daily death toll for a... 

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

Eastplats achieves first PGM recoveries from tailings project

By: Marleny Arnoldi     18th February 2020 JSE- and TSX-listed Eastern Platinum (Eastplats) has successfully produced platinum group metal (PGM) concentrate from its refurbished small-scale PGM Circuit D – previously called the scavenger plant circuit. The company is using feed from its retreatment project, located at the company’s... 

Eastplats achieves first PGM recoveries from tailings project
Eastern Platinum's Crocodile River Mine

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

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... 

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.

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.

Silver Institute says price will bounce back this year

By: Creamer Media Reporter      17th February 2020 Silver is expected to shine this year, on the back of a positive spill-over from gains in gold, with the yellow metal continuing to benefit from macroeconomic and geopolitical uncertainties across critical economies. Washington-based Silver Institute is forecasting a silver price gain of 13% to... 

Silver Institute says price will bounce back this year

Record-performing Amplats applying for 75 MW solar power at Mogalakwena

By: Martin Creamer     17th February 2020 Platinum group metals (PGMs) mining company Anglo American, which has reported record safety, record financials and the highest dividend in 15 years, has submitted an application to be allowed to self-generate 75 MW of solar power at its Mogalakwena mine where the world’s largest hydrogen fuel... 

Record-performing Amplats applying for 75 MW solar power at Mogalakwena
Photo by Creamer Media's Donna Slater
Chris Griffith

Chris Griffith to step down as Amplats CEO

By: Martin Creamer     17th February 2020 Anglo American Platinum (Amplats) CEO Chris Griffith is to step down as CEO of the company after seven years at the helm, the board of Anglo American Platinum said on Monday. The company announced that Griffith, who took Kumba Iron Ore to great heights before taking on Amplats, will also leave... 

Chris Griffith to step down as Amplats CEO
Photo by Creamer Media's Donna Slater
Chris Griffith

Newmont gold reserve swells to 100Moz

By: Creamer Media Reporter      17th February 2020 US-based gold major Newmont has reported gold mineral reserves of 100.2-million attributable ounces for 2019, which compares with 65.4 -million ounces at the end of 2018. This 53% increase follows the successful completion of two transactions and ongoing exploration success. 

Brazil state judge accepts charges against Vale ex-CEO, others over dam burst

By: Reuters     17th February 2020 A Brazilian state judge has accepted charges against Vale former CEO Fabio Schvartsman and 15 others related to a fatal disaster at the iron-ore miner's Brumadinho tailings dam a year ago, according to a statement on Friday. The move by a judge in Brazil's mining heartland of Minas Gerais... 

Brazil state judge accepts charges against Vale ex-CEO, others over dam burst
Former Vale CEO Fabio Schvartsman

Robbery attempt prompts security step-up at South Deep – Gold Fields  

By: Martin Creamer     14th February 2020 Security is being stepped up at South Deep gold mine in Gauteng to present an even more resistant barrier to armed criminals, said Gold Fields executive vice-president Martin Preece said on Thursday. This action follows last year’s gold robbery attempt at the mine by machine-gun wielding gangsters. 

Robbery attempt prompts security step-up at South Deep – Gold Fields
Gold Fields EVP Martin Preece talks to Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

First Quantum posts surprise profit on higher copper sales, output

By: Reuters     14th February 2020 Canada's First Quantum Minerals posted a surprise profit on Thursday, helped by higher sales and production, driven by a ramp up of its Cobre Panama copper mine. First Quantum's total copper production rose 29% to 204 270 t, while sales jumped 31.8%. The company has been actively developing its... 

Govt-mining industry cooperation at regional level very good – Gold Fields  

By: Martin Creamer     13th February 2020 The cooperation between the government and mines at regional level is very good, but where it falls down is at national level, Gold Fields CEO Nick Holland said on Thursday. Responding to Mining Weekly during a media roundtable at the JSE, Holland said that at the national level, there was... 

Govt-mining industry cooperation at regional level very good – Gold Fields
Gold Fields CEO Nick Holland questioned by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Gold Fields displays ‘green’ energy installation ahead of superb results  

By: Martin Creamer     13th February 2020 “What you’re seeing over here is one of the first wind turbines that we put up in Australia, a mine where we’re going to have average renewable input into our energy usage of about 57%,” was the first sentence stated by Gold Fields CEO Nick Holland as he flashed up a picture of a wind turbine at... 

Gold Fields displays ‘green’ energy installation ahead of superb results
Gold Fields CEO Nick Holland’s results presentation covered by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

IEA sees first global oil demand drop in a decade on coronavirus

By: Bloomberg     13th February 2020 Global oil demand will drop this quarter for the first time in over a decade as the coronavirus batters China’s economy, the International Energy Agency said. The new estimates show that oil markets face a significant surplus despite the latest production cuts by OPEC and its partners. Crude... 

Kinross pulls trigger on La Coipa restart project

By: Mariaan Webb     13th February 2020 Canadian gold miner Kinross Gold has announced that it is proceeding with the La Coipa restart project in Chile, while a prefeasibility study at the nearby Lobo-Mare project remains on track to be completed by mid-year. The La Coipa restart project will require a capital investment of... 

Kinross pulls trigger on La Coipa restart project
Kinross CEO Paul Rollinson

Gold Fields' output beats guidance, profit soars, dividends total 160c a share

By: Martin Creamer     13th February 2020 Gold mining company Gold Fields, which has declared a final dividend of 100 c a share, recorded 2019 production which exceeded guidance, along with lower costs and an increased dividend. Attributable 2019 gold equivalent production was 2 195 000 oz, an 8% increase, and all-in costs fell 9% to $1... 

Gold Fields' output beats guidance, profit soars, dividends total 160c a share
Photo by Creamer Media
Nick Holland

Investors from five countries eye Mexico's nascent lithium market

By: Reuters     13th February 2020 Investors from at least five countries have expressed interest in Mexico's nascent lithium extraction and production industry, said Francisco Quiroga, the undersecretary for mining, after a promising find in the north of the country. The find is still in the exploration phase. If initial... 

PGM demand, prices likely to remain high this year

By: Marleny Arnoldi     12th February 2020 After resurgent demand pushed the platinum market into deficit in 2019, with the total volume of platinum under investment coming in at a record 3.4-million ounces at the start of this year, speciality chemicals company Johnson Matthey says the platinum market could move back into surplus this... 

Barrick ups dividend 40% as gold output hits top end of guidance

By: Martin Creamer     12th February 2020 “If you know where you’re going, you generally get there,” said Barrick CEO Dr Mark Bristow in response to Mining Weekly on Wednesday after the company presented convincing financial results that show that the New York- and Toronto-listed business is sure getting there under Bristow’s astute... 

Barrick ups dividend 40% as gold output hits top end of guidance
Photo by Creamer Media
Mark Bristow

DRDGold cock-a-hoop on ‘wonderful’ gold performance  

By: Martin Creamer     12th February 2020 Surface gold-mining company DRDGold is cock-a-hoop over its half-year performance, which saw it produce 3 t of gold from waste dumps on the East Rand and the West Rand in the six months to December 31. But the company is also continuing to work intently on tracking down the gang of armed robbers... 

DRDGold cock-a-hoop on ‘wonderful’ gold performance
DRDGold CFO Riaan Davel interviewed by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Video: Kutlwano Matlala. Photographs: Donna Slater.
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