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Reopening of economies boosting metals prices 

By: Marleny Arnoldi     Updated 4 hours ago Since lockdown measures have started to ease around the world to contain Covid-19, ratings and research agency Standard & Poor’s Global (S&P Global) says the reopening of economies, combined with monetary stimulus by banks and governments, has allowed industrial metal prices to rise. However,... 

Reopening of economies boosting metals prices

Engineering News & Mining Weekly e-magazine now available

2nd July 2020 For the duration of South Africa’s Covid-19 lockdown period, Creamer Media is providing free digital access to our flagship Engineering News & Mining Weekly news magazine. Click now to read our latest edition. 

Engineering News & Mining Weekly e-magazine now available

Sasol narrows immediate asset-disposal focus to ‘top ten’ list 

By: Terence Creamer     Updated 3 hours ago Chemicals and energy group Sasol has developed a list of ten major assets that will be prioritised for sale in the coming weeks and months as it moves to streamline the business into what is being termed ‘Sasol 2.0’, while also raising proceeds to help it reduce a $9.5-billion debt burden. In... 

Sasol narrows immediate asset-disposal focus to ‘top ten’ list
Photo by Creamer Media
Sasol CFO Paul Victor

Vedanta's Zambia copper unit warns part of Nchanga openpit mine about to collapse 

By: Reuters     Updated 4 hours ago Zambia's Konkola Copper Mines (KCM), a unit of diversified miner Vedanta Resources, has closed part of its openpit mine as a portion of the pit is about to collapse, the chief executive officer said late on Thursday. KCM predicted that part of the Nchanga Open Pit in Chingola in Zambia's... 

Northam increases Zambezi preference share holdings to 40.71%

By: Tasneem Bulbulia     Updated 6 hours ago JSE-listed Northam has acquired an additional 11.72-million Zambezi Platinum preference shares for R959.7-million. Northam will now hold more than 65-million Zambezi preference shares, representing about 40.71% of all Zambezi preference shares in issue. 

Resgen extends sunset date for Boikarabelo funding agreement

By: Tasneem Bulbulia     Updated 6 hours ago Dual-listed Resource Generation (Resgen) has recorded changes to the common terms agreement for its mine funding package, in noted in its market update. On December 5, 2019, the company announced that, along with its majority owned subsidiary, Ledjadja Coal, it had executed principal binding... 

IDC appoints Gert Gouws acting CFO

By: Donna Slater     3rd July 2020 The Industrial Development Corporation (IDC) has appointed Gert Gouws as its acting CFO for a period of three months while the process of appointing the permanent incumbent is being finalised. The IDC notes that the recruitment process is progressing well and is expected to be concluded soon.  

IDC appoints Gert Gouws acting CFO
Photo by Creamer Media
IDC acting CFO Gert Gouws

Moon metals discovery aids development of lunar formation theories

By: Rebecca Campbell     Updated 3 hours ago Scientists using data from the US National Aeronautics and Space Administration’s (Nasa’s) Lunar Reconnaissance Orbiter (LRO) spacecraft have discovered evidence that the Moon might, underneath its surface, be richer in metals (such as iron and titanium) than had previously been believed. Nasa is... 

Moon metals discovery aids development of lunar formation theories

Power Metal progresses with Kisinka exploration

By: Donna Slater     Updated 3 hours ago Metal explorer and developer Power Metal Resources (Power Metal) has completed most elements of the follow-up programme at the Kisinka project in the Democratic Republic of Congo, including pitting and mapping. Laboratory analysis will, however, only be possible after air cargo routes reopen.  

Reliable connectivity essential for effective IoT

By: Schalk Burger     Updated 2 hours 55 minutes ago A global study conducted by satellite communications multinational Inmarsat found that only 15% of mining organisations consistently have access to reliable connectivity for their Internet of Things- (IoT-) enabled projects. Inmarsat’s research programme into IoT trends 'The Rise of IoT in... 

Epiroc aims to halve carbon dioxide emissions in operations as part of 2030 goals

By: Schalk Burger     Updated 2 hours 40 minutes ago Mining and infrastructure equipment multinational Epiroc this week released its 2030 sustainability goals, which include halving carbon dioxide emissions from operations, transport and major suppliers, as well as from customers’ use of Epiroc equipment. "These are challenging targets, but we will... 

Cost blow-outs and delays confirmed at Oyu Tolgoi

By: Esmarie Iannucci     3rd July 2020 Mining major Rio Tinto on Friday confirmed a cost blow-out of between $1.3-billion and $1.8-billion at the Oyu Tolgoi copper project, in Mongolia, compared with the original $5.3-billion capital estimates. Meanwhile, first sustainable production has been delayed by between 21 and 29 months... 

Cost blow-outs and delays confirmed at Oyu Tolgoi

Oriole Resources commences drilling at Faré target

By: Donna Slater     29th June 2020 Aim-listed West Africa-focused exploration company Oriole Resources has started a 10 000 m air-core (AC) drilling campaign at the Faré target within the north of its Senala project, in Senegal. The project, which is operated under a joint venture (JV) with partner Iamgold Corporation, presents... 

Czech coal miner OKD shuts mines for 6 weeks after virus outbreak

By: Reuters     Updated 4 hours ago Czech State-owned hard coal mining group OKD will shut all its mining operations for six weeks from Friday as it battles an outbreak of coronavirus infections, it said on Thursday. The mines, in the country's east near the Polish border, have been the Czech Republic's main hot spot of new cases... 

Chile copper production at risk as coronavirus bites

By: Reuters     Updated 4 hours ago Chile's vaunted copper industry is nearing a tipping point as coronavirus explodes across the South American nation, mine workers and analysts say, laying bare the hidden costs of policies that have until now salvaged its output of the red metal. Since early April leading miners, including... 

Chile copper production at risk as coronavirus bites

Turquoise Hill to defer any interim funding talks on Mongolian mine with Rio Tinto

By: Reuters     Updated 7 hours ago Turquoise Hill Resources Ltd said on Thursday it has decided to defer further discussions on any interim funding arrangements with Rio Tinto for its Mongolian copper project. The Mongolian state owns 34% in the Oyu Tolgoi copper project, while Rio's majority-owned Turquoise Hill has a 66% stake. 

Death toll rises above 160 in Myanmar jade mine collapse

By: Reuters     3rd July 2020 The death toll in a landslide at a jade mine in northern Myanmar has risen above 160, with more feared dead, authorities said on Friday, as search efforts continued for a second day. A heap of mining waste collapsed into a lake on Thursday and buried many workers under mud and water. 

Hawkstone increases Utah landholding

By: Esmarie Iannucci     3rd July 2020 The share price of ASX-listed Hawkstone Mining settled 20% higher on Friday after the company announced that its landholding at the Western Desert gold/copper project, in Western Utah, had increased by 950%. The company on Friday told shareholders that since acquiring the project in March of... 

Australian gas prices among lowest in Asia

3rd July 2020 New data by the International Gas Union (IGU) has shown that Australia’s average natural gas prices remained among the lowest in Asia. In its 2020 Wholesale Gas Price Survey, IGU showed that average wholesale gas price in Australia last year was around 40% less than the average wholesale price... 

S Australia establishes mining liaison service

By: Esmarie Iannucci     3rd July 2020 The South Australian government has announced the formation of a new resources information service specifically designed to assist landowners, farmers and community members in their dealings with the resources sector. From July 1, the Rural Business Support (RBS) landowner information service... 

WA investing further in core library

By: Esmarie Iannucci     3rd July 2020 The Western Australian government has announced A$7-million in funding to expand the capacity of the Joe Lord core library, in Kalgoorlie. The facility stores core samples that contain valuable geoscientific information for exploration companies and others seeking new petroleum and mineral... 

Ora Banda raises cash for Davyhurst restart

By: Esmarie Iannucci     3rd July 2020 ASX-listed Ora Banda mining has launched a A$55-million capital raise to underpin the restart activities at its Davyhurst gold project, in Western Australia. The equity raising will consist of an institutional share placement to raise an initial A$40-million, and a one-for-nine accelerated... 

Public to have its say on Stibnite gold mine in Idaho

By: Creamer Media Reporter      3rd July 2020 The United States Forest Service (USFS) and other regulators working on the review of the Stibnite gold project, in central Idaho, have released an updated permitting schedule, which indicates that the draft environmental-impact statement (EIS) will be released next month. Once the draft EIS is... 

Get going with galvanizing: new book for engineers from IZA

By: Shannon de Ryhove     3rd July 2020 The International Zinc Association (IZA) will launch its new publication, The Essentials of Galvanizing, during a webinar hosted by Creamer Media Contract Publishing on July 15, 2020. The publication offers the civil engineering and construction industry valuable insights into the importance of... 

Get going with galvanizing: new book for engineers from IZA

World top copper producer Chile keeps output steady in May even as coronavirus explodes

By: Reuters     2nd July 2020 World top copper producer Chile held its production of copper steady in May versus the previous year even as the coronavirus outbreak exploded in the South American nation, according to data released on Thursday by State copper agency Cochilco. The fast-spreading pandemic in Chile has rattled... 

World top copper producer Chile keeps output steady in May even as coronavirus explodes
Spence is a copper mine located in the Atacama desert, in the north of Chile.

Codelco warns more restrictions on copper mines would be 'catastrophic' - report

By: Reuters     2nd July 2020 Chile's State-run Codelco, the world´s top copper producer, warned on Thursday any move to ramp up restrictions on its mines amid the coronavirus outbreak would be "catastrophic" for the country, the company´s chief executive said in an interview in a local daily newspaper. CEO Octavio Araneda... 

Coltan supply from SMB mine in Congo unaffected by clashes – mines minister

By: Reuters     2nd July 2020 Activity at Societe Miniere de Bisunzu's (SMB) coltan mine in Congo's North Kivu province is continuing as normal and supply chains were not disrupted despite violent clashes last week, the region's mines minister said on Thursday. SMB has some of Africa's biggest deposits of coltan, an ore rich... 

Teck Namibia to potentially gain 26.9% interest in Deep-South

By: Tasneem Bulbulia     2nd July 2020 TSX-listed Deep-South Resources and Teck Namibia, a wholly owned subsidiary of Teck Resources, have agreed to amend the sale agreement of February 2017, whereby Deep-South acquired Teck’s interest in the Haib Copper project, in Namibia. The sale agreement stipulated that Deep-South make cash... 

Nersa’s Gumede calls for overhaul of ‘outdated’ electricity tariff methodology 

By: Terence Creamer     2nd July 2020 National Energy Regulator of South Africa (Nersa) fulltime member for electricity Nhlanhla Gumede has called for the regulatory methodology used to set electricity tariffs in South Africa to be overhauled, arguing that the multiyear price determination (MYPD) approach is not aligned with the... 

Nersa’s Gumede calls for overhaul of ‘outdated’ electricity tariff methodology
Nersa fulltime member for electricity Nhlanhla Gumede

Covid kills 13 mineworkers, no foreigners back at work  

By: Martin Creamer     2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... 

Minerals Council South Africa Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mining will need long-term strategies to survive new normal 

By: Simone Liedtke     2nd July 2020 For the mining industry to be successful post-Covid-19, the industry will require long-term strategies to deal with its challenges, which includes the pandemic. In a webinar hosted by the London Bullion Market Association (LBMA) on July 2, investment management firm Orion Resource Partners... 

Mining will need long-term strategies to survive new normal

GlobalData expects iron-ore consumption to decrease 2.8% this year

By: Tasneem Bulbulia     2nd July 2020 Global iron-ore consumption is likely to decrease by 2.8% this year, as a result of the impact of Covid-19 on the mining sector, as well as owing to decreased demand in the automotive industry, says analytics and data company GlobalData. It points out that the automotive industry accounts for... 

Armadale submits mining licence application for Mahenge

By: Marleny Arnoldi     2nd July 2020 Aim-listed Armadale Capital has submitted its mining licence application to the Tanzanian Department of Energy on Minerals for its wholly-owned Mahenge Liandu graphite project. This marks another significant step in the development of the project, says chairperson Nick Johansen.  

Ekapa changes name, donates face masks

By: Donna Slater     2nd July 2020 Following the ceasing of the joint venture (JV) between diamond miners Kimberley Ekapa Mining (KEM) and Petra Diamonds, KEM has changed its name to only Ekapa. At the end of 2018, Petra Diamonds announced its completion of the sale of its and its black economic empowerment partner’s 75.9%... 

Ekapa changes name, donates face masks
Ekapa's Jahn Hohne and Peter Hohne stand in front of the newly renamed mine sign

Nersa to provide concurrence on technology-specific determination this month 

By: Terence Creamer     2nd July 2020 The National Energy Regulator of South Africa indicated on Thursday that it intended providing concurrence this month for a Ministerial determination that would open the way for the procurement of new electricity generation capacity in line with allocations contained in the 2019 edition of the... 

Nersa to provide concurrence on technology-specific determination this month

Nornickel board sets up environmental task team in wake of Arctic spill

By: Mariaan Webb     2nd July 2020 Global palladium and high-grade nickel leader Nornickel has created an independent environmental task team of the board of directors to monitor progress in the Russian major’s environmental programmes. The management team included Andrey Bougrov as Nornickel’s senior VP, who will oversee the... 

Nornickel board sets up environmental task team in wake of Arctic spill

Power Metal records update at Alamo in the US

By: Tasneem Bulbulia     2nd July 2020 Aim-listed Power Metal Resources has completed the registration of the additional claims at its Alamo gold project in Arizona, in the US. The follows a previous update where the company confirmed that following a successful site visit in January, its local partner had completed the staking of... 

Pandemic helps Russia tighten its grip on a key strategic metal

By: Bloomberg     2nd July 2020 As the coronavirus pandemic pummeled demand from key customers in the auto industry, Russia’s biggest mining company quietly tightened its grip on the palladium market. MMC Norilsk Nickel was already the No. 1 miner of the metal used in autocatalysts, but the crisis has allowed it to gain market... 

Pandemic helps Russia tighten its grip on a key strategic metal
A general view shows Russia's Arctic city of Norilsk. More than a quarter of the people living in and around the city work for Norilsk Nickel, which produces nickel and palladium.

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