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High-flying Barrick Gold opens up exploration front in Japan 

By: Martin Creamer     11th August 2020 High-flying Barrick Gold has established a gold exploration joint-venture front in Japan. “Japan has opened up its mining and exploration legislation for the first time since the war,” Barrick Gold CEO Dr Mark Bristow told Mining Weekly on Tuesday. 

High-flying Barrick Gold opens up exploration front in Japan
Dr Mark Bristow

Ferrochrome business remains solid, world still requires large amount of it – Glasenberg 

By: Martin Creamer     11th August 2020 The ferrochrome business remains solid and there is still a large amount of ferrochrome required in the world. Unfortunately, most of the production occurs in ferrochrome plants in China, while South Africa continues exporting chrome ore and moving a large amount of it to China owing to South... 

Ferrochrome business remains solid, world still requires large amount of it – Glasenberg
Ivan Glasenberg

Mine export values back but volumes need boosting – Minerals Council 

By: Martin Creamer     10th August 2020 South Africa’s mine export values have bounced back encouragingly but volumes still need boosting. June’s export value was 13% up on May. 

Mine export values back but volumes need boosting – Minerals Council
Production and export volumes compared with export values.

Mponeng transfer to Harmony expected soon – AngloGold 

By: Martin Creamer     11th August 2020 The transfer of Mponeng gold mine to Harmony Gold is down to Department of Minerals Resources and Energy approval under legislation relating to mine transfer, according to outgoing AngloGold Ashanti CEO Kelvin Dushnisky. Answering analysts questions following the presentation of the company’s... 

Mponeng transfer to Harmony expected soon – AngloGold
AngloGold COO Africa Sicelo Ntuli

Platinum giant South Africa forced by virus to look into abyss

By: Bloomberg     11th August 2020 South Africa’s gold industry has been dying slowly for years. As the coronavirus undercuts the already fragile case for investment, its platinum mines may be next. Beset by power and water shortages, alongside whipsawing government policies, South African producers have cut spending over the... 

Platinum giant South Africa forced by virus to look into abyss
The Mogalakwena mine.

Weekly Coal Index Report

11th August 2020 The significant news of last week is that Glencore will temporarily close its Australian coal mines over Sep-Oct, resulting in around 7-mn tons of production being cut, with some also coming from the closure of its Prodeco mine in Colombia. This helped NEWC prices to rally although near term spot... 

Weekly Coal Index Report

Exxaro expects up to 34% fall in first-half headline earnings a share

By: Tasneem Bulbulia     11th August 2020 JSE-listed Exxaro Resources expects its headline earnings per share (HEPS) for the six months ended June 30 to decrease by between 18% and 34% and 18% year-on-year. Attributable earnings per share (EPS) for the six-month period are expected to decrease by between 27% and 43% year-on-year. 

Sasol warns of dramatic earnings collapse as it confirms R112bn impairment

By: Terence Creamer     11th August 2020 Chemicals and energy group Sasol warned of a dramatic collapse in its 2020 financial performance on Tuesday, confirming that losses for the period would represent a deterioration of more than 100% when compared with results reported for the 2019 financial year. The decline, the company told... 

Sasol warns of dramatic earnings collapse as it confirms R112bn impairment

Employee dies in accident at Harmony's Kusasalethu

By: Marleny Arnoldi     11th August 2020 JSE-listed Harmony Gold Mining Company has advised that one of its employees has died after being injured in an engineering maintenance-related accident that occurred at the miner’s Kusasalethu mine, in Carletonville. A full investigation is under way to understand the circumstances of the... 

Lucara posts $14m second-quarter net loss, but supply agreement will soon boost revenue

By: Marleny Arnoldi     11th August 2020 Canadian mining company Lucara Diamond Corporation expects revenue from its unique supply agreement with HB Group to start realising during the third quarter. This follows after Lucara decided to not tender any of its diamonds larger than 10.8 ct in March, amid the uncertainty caused by... 

BLSA’s Mavuso laments lack of investment in South Africa

By: Simone Liedtke     11th August 2020 While there are talks of mobilising more investment to kickstart the South African economy post-Covid-19, Business Leadership South Africa (BLSA) CEO Busi Mavuso laments that current developments are showing the opposite, as projects and investments have either been cancelled or delayed. In her... 

Alphamin lifts second quarter tin production, cuts operational costs

By: Donna Slater     11th August 2020 JSE-listed tin concentrate producer Alphamin Resources has increased its tin production by 29% quarter-on-quarter to 2 739 t, while also managing to reduce its all-in sustaining costs (AISC) by 13% to $10 849/t. Alphamin operates the Bisie tin mine, in the Democratic Republic of Congo, and... 

Ivanhoe on track to bring flagship Kakula mine into production in 2021

By: Donna Slater     11th August 2020 TSX-listed Ivanhoe Mines is progressing with mine development work on three of its Central and Southern African mining projects, with its flagship Kakula copper discovery in the Democratic Republic of Congo (DRC) on track to start producing in the third quarter of 2021. The miner reports that... 

Saldanha Iron Ore Terminal loads over 15Mt of ore despite restrictions

By: Simone Liedtke     11th August 2020 Despite operating under Covid-19 restrictions, Transnet Port Terminals’ (TPT’s) Saldanha Iron Ore Terminal (IOT) loaded 15.6-million tonnes in the first four months of the 2020/21 financial year, meeting 76% of their contractual obligations. Suring the same period last year, and using a full... 

Gold Fields' South Deep mine addressing gender equality in mining

By: Simone Liedtke     11th August 2020 Gold miner Gold Fields has acknowledged the lack of female representation in the workplace, citing it as “a global business issue” across industries and geographies. To put it into perspective, women in the South African mining industry alone face a range of challenges, which often prevent them... 

Cora notes progress on Sanankoro ESIA

By: Tasneem Bulbulia     11th August 2020 West Africa-focused Cora Gold has reported on the progress made by Digby Wells Environmental on the environmental- and social-impact assessment (ESIA) for its Sanankoro gold project, in the Yanfolila Gold Belt, in southern Mali. The start of the ESIA was announced on May 4. 

Segilola mine development remains on track

By: Tasneem Bulbulia     11th August 2020 TSX-listed Thor Explorations has noted that concrete has been poured at its Segilola mine's processing plant site, while construction and procurement are progressing on schedule and on budget to ensure the first gold pour target is met in the second quarter of 2021. Norinco International has... 

Minim Martap reserve supports mine life plans

By: Esmarie Iannucci     10th August 2020 A maiden Joint Ore Reserves Committee compliant resource at the Minim Martap bauxite project, in Cameroon, has supported the planned 20-year mine life, ASX-listed Canyon Resources said on Monday. The maiden probable reserve has been estimated at 97.3-million tonnes, at 51.1% total alumina and... 

Maiden resource for Ghana deposit

By: Esmarie Iannucci     10th August 2020 Junior Tribune Resources has reported a maiden gold resource of 1.81-million ounces at its Adiembra gold deposit, in Ghana. The ASX-listed company on Monday reported a maiden resource of 20.99-million tonnes, grading 2.7 g/t gold. 

Gold heads for biggest drop since 2013 with risk appetite rising

By: Bloomberg     11th August 2020 Gold headed for the largest downturn in seven years as risk appetite gained after a proposed US tax cut and a rise in bond yields. Stocks climbed after US President Donald Trump said he’s considering a tax cut on capital gains. That’s reduced demand for gold as a haven, helping notch a third day... 

Gold heads for biggest drop since 2013 with risk appetite rising

Facebook Africa director, former TCTA boss join Ivanhoe board

By: Creamer Media Reporter      11th August 2020 Toronto-listed Ivanhoe Mines has appointed two women, each with more than 25 years’ business experience with Africa-based companies to its board as independent directors. Nunu Ntshingila, regional director of Facebook Africa, and Martie Janse van Rensburg, former CEO of Trans Caledon Tunnel... 

Barrick says more noncore disposals to come

By: Mariaan Webb     11th August 2020 Canada’s Barrick Gold has met the $1.5-billion disposal target it had set in 2018 and CEO Mark Bristow said this week that the group could shed more noncore assets, particularly in the current gold price environment. “The higher gold price turns some of our smaller assets within our portfolio... 

Barrick says more noncore disposals to come
Barrick last year sold its 50% interest in Kalgoorlie Consolidated Gold Mines, which owns Super Pit (pictured).

NUM’s Paris Mashego dies

11th August 2020 The National Union of Mineworkers national energy sector coordinator Paris Mashego has died, the union said on Tuesday. He served as the union’s Highveld regional secretary, mentored younger shop stewards in NUM and was chief negotiator at State-owned power utility Eskom. 

NUM’s Paris Mashego dies

Investors call for greater Rio accountability over destroyed ancient caves

By: Reuters     11th August 2020 British and Australian investment funds said on Monday that Rio Tinto's testimony last week over its destruction of ancient caves in Australia raised questions about the accountability of its senior leadership. Rio CEO Jean-Sébastien Jacques was grilled by an Australian Senate panel on Friday... 

Investors call for greater Rio accountability over destroyed ancient caves

China's steel body expects iron-ore port congestion to ease by end of August

By: Reuters     11th August 2020 The China Iron and Steel Association (CISA) said on Tuesday that iron-ore discharging difficulties and port congestion issues are likely to ease in mid- or late-August as the weather improves and the coronavirus is under control. The number of iron ore vessels stuck at ports has increased... 

PureGold suspends operations owing to forest fire

By: Creamer Media Reporter      11th August 2020 Dual-listed PureGold has temporary suspended operations at its mine near Red Lake, Ontario, after the municipality advised residents to evacuate, owing to a forest fire south of the town. PureGold said in a statement on Monday that all its staff and contractors were safely accounted for and out... 

Alrosa's July diamond sales drop 79%, state help may be on its way

By: Reuters     11th August 2020 Russian diamond producer Alrosa said on Monday that its rough and polished diamond sales totalled $35.8-million in July, down 79% from a year earlier after the coronavirus pandemic hit demand and the supply chain. It marked a fourth consecutive month of weak sales as falling demand and supply... 

Alrosa's July diamond sales drop 79%, state help may be on its way

Barrick comfortable in Ontario, continues to hunt for new Canada opportunities

By: Mariaan Webb     11th August 2020 Canadian gold major Barrick Gold is not considering redomiciling to the US, CEO Mark Bristow said on Monday, stressing that the group was “very comfortable” in Ontario. He was responding to an analyst question on the issue during Barrick’s second-quarter results webcast, following a news article... 

Barrick comfortable in Ontario, continues to hunt for new Canada opportunities
The Hemlo mine, in Ontario.

Mining M&A keeping steady - GlobalData

By: Esmarie Iannucci     11th August 2020 Merger and acquisition (M&A) transactions in the metals and mining sector in the second quarter of this year reached $8.86-billion, GlobalData reported on Tuesday. The value marked an increase of 29.1% over the previous quarter and a drop of 14.4% when compared with the last four-quarter... 

US coal industry needs to consolidate – Moody’s analyst

By: Mariaan Webb     11th August 2020 Characterised by ongoing decline in demand, combined with near-term erosion of financial strength driven by the adverse economic impact from coronavirus, the US coal industry is in need of consolidation. This is the view of Moody’s lead coal analyst Ben Nelson, who said that the group’s concerns... 

Alto secures bridging facility

By: Esmarie Iannucci     11th August 2020 ASX-listed Alto Metals has secured an additional A$1-million short-term, unsecured bridge loan facility from shareholder Harvest Lane Asset Management. Alto said on Tuesday that the funding would allow the company to continue with its exploration work and to meet working capital requirements... 

Solaris shares surge 38% on first assay results

By: Mariaan Webb     11th August 2020 Copper company Solaris Resources on Monday reported assay results for the first hole from the ongoing 40 000 m diamond drill programme at its Warintza project, in south-east Ecuador, sending its share price up 38%. This is the first drill hole completed on the Warintza project in nearly 20 years. 

Livent CEO to EV industry: sign better deals or risk lithium supply

By: Reuters     11th August 2020 The electric vehicle industry must pay more for lithium in order to spur investment and prevent future supply crunches of the battery metal, the CEO of lithium producer Livent has said. Demand for EVs is expected to surge in coming years, spurred in part by government mandates, rising concern... 

Premier subsidiary buys Nevada project

By: Mariaan Webb     11th August 2020 Toronto-listed Premier Gold Mines on Monday announced that its Delaware subsidiary would buy a project in the Getchell gold belt, near Winnemucca, Nevada, for $50-million. The Getchell project is located at the intersection of the Getchell gold belt and the Battle Mountain-Eureka trend... 

Teck to re-start work at Quebrada Blanca 2 copper project in Chile

By: Reuters     11th August 2020 Canada's Teck said on Monday it would reinitiate work on its Quebrada Blanca phase 2 copper project in Chile after shutting it down in March because of the novel coronavirus outbreak. Teck vice president Amparo Cornejo said in a Chilean mining forum that the company was working closely with... 

Teck to re-start work at Quebrada Blanca 2 copper project in Chile

Pebble CEO responds to Biden's statement on blocking Alaska mine

By: Mariaan Webb     11th August 2020 Pebble Partnership CEO Tom Collier has responded to Democratic Presidential candidate Joe Biden’s statement that he would use a study completed by the Obama-era Environmental Protection Agency (EPA) in 2014 to deny federal permits for the Alaska mine. Collier said on Monday that any action by a... 

Pebble CEO responds to Biden's statement on blocking Alaska mine

Cimic subsidiaries clean up

By: Esmarie Iannucci     11th August 2020 ASX-listed Cimic has announced a number of contract awards across the resources sector. Subsidiary UGL has been awarded more than A$200-million worth of construction and maintenance contracts, including a civil, structural, mechanical, piping, electrical, communications and instrumentation work... 

Peninsula advances work at Lance

By: Esmarie Iannucci     11th August 2020 Uranium developer Peninsula Energy will be ramping-up pre-development activities at its Lance project, in Wyoming. The company said on Tuesday that over the next 12 to 18 months, Peninsula would focus on key site-specific technical, process development and optimisation activities to prepare... 

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High-flying, dividend-talking RBPlat going into second half with tailwinds

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