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Gold Fields has compelling ‘pure play gold’ investment case – Griffith 

By: Martin Creamer     6th May 2021 Gold mining company Gold Fields has a compelling investment case for its shareholders and any investor looking for exposure in high quality and cash generative gold business, new CEO Chris Griffith said on Thursday. Answering questions during a conference call following the reporting an... 

Gold Fields has compelling ‘pure play gold’ investment case – Griffith
Photo by Creamer Media's Donna Slater
Gold Fields CEO Chris Griffith

Lucara reports higher first-quarter earnings

By: Creamer Media Reporter      Updated 51 minutes ago Canada-headquartered Lucara Diamond Corp achieved adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) of $22.2-million for the quarter ended March 31, compared with the Ebitda of $8.1-million reported for the quarter ended March 31, 2020. It earned net income of... 

Implementation of new tailings standard seen as key to avoiding future disasters

By: Marleny Arnoldi     7th May 2021 Stakeholders agree that it is a pity there had to be horrific tragedies before due attention was paid to dangerous tailings storage facility (TSF) practices. Australia-based tailings solutions consultancy Decipher states in the Major Tailings Dam Failures Guide, published last year, that about... 

Implementation of new tailings standard seen as key to avoiding future disasters

Gold Fields chairperson Cheryl Carolus to step down at 2022 AGM

By: Martin Creamer     6th May 2021 Gold Fields chairperson Cheryl Carolus has announced that she will step down from her role and as a non-executive director with effect from the annual general meeting (AGM) in 2022. In her remarks to the 2021 AGM, which took place virtually on Thursday Carolus said she believed that after 12... 

Sibanye-Stillwater’s first-quarter earnings increase despite Covid-19 disruptions

By: Donna Slater     6th May 2021 JSE- and NYSE-listed precious metals miner Sibanye-Stillwater says the start of this year has been “extremely positive”, with the operational momentum being carried over from the fourth quarter of 2020 as operations started to normalise after the Covid-19-inflicted disruptions of earlier in that... 

Sibanye-Stillwater’s first-quarter earnings increase despite Covid-19 disruptions
Photo by Creamer Media's Donna Slater
Sibanye-Stillwater CEO Neal Froneman

Net zero gold a ‘realistic prospect’ – WGC 

By: Simone Liedtke     6th May 2021 The increased accessibility of means to further decarbonise electricity is creating an opportunity for gold to move towards carbon neutrality and makes net zero gold a realistic prospect, World Gold Council (WGC) market relations director and climate change lead John Mulligan said during the... 

Jupiter completes Juno demerger

By: Esmarie Iannucci     Updated 37 minutes ago ASX-listed Jupiter Mines has completed the demerger of Juno Minerals, via an in-specie distribution of shares to Jupiter shareholders. Jupiter on Friday said that Juno has also received conditional approval to be admitted to the official list of the ASX, triggering the completion of the... 

ICMM launches protocols, guide to improve tailings management, safety 

By: Donna Slater     6th May 2021 The organisation lobbying for a safe, fair and sustainable mining and metals industry, the International Council on Mining and Metals (ICMM), has launched two new resources to support continual improvement in the safe and transparent management of tailings facilities. These resources include... 

ICMM launches protocols, guide to improve tailings management, safety
Photo by Reuters
The scene post the catastrophic tailings dam collapse at Vale’s Córrego de Feijão mine, in Brumadinho, Brazil

Lucara secures $220m for Botswana diamond mine expansion

By: Mariaan Webb     6th May 2021 Canadian miner Lucara Diamond Corp has secured credit-approved commitments for senior debt facilities of up to $220-million to fund the underground expansion of its Karowe mine that will allow the operation to continue until at least 2040. The facilities will include project financing of... 

Lucara secures $220m for Botswana diamond mine expansion
Lucara operates the Karowe mine, in Botswana.

Anglo shareholders green-light Thungela demerger

By: Donna Slater     6th May 2021 Shareholders of Anglo American have voted in favour of the demerger of its coal business, which will be spun out into Thungela Resources. The demerger is expected to be completed on June 4.  

Anglo hails resilient performance

By: Tasneem Bulbulia     6th May 2021 Diversified miner Anglo American continues to generate healthy cash flows that it is using to re-invest in the business and deliver sustainable cash returns, chairperson Stuart Chambers said during the group’s annual general meeting (AGM) on May 5. He highlighted the group’s resurgence, noting a... 

Anglo hails resilient performance
Anglo American chairperson Stuart Chambers

Fitch Solutions forecasts higher iron-ore price on the back of strong Chinese demand

By: Simone Liedtke     6th May 2021 Research agency Fitch Solutions Country Risk and Industry Research has revised its iron-ore price forecast for this year higher to an average of $160/t, from its previous forecast of $120/t, as exceptionally strong demand from the Chinese and global steel industry contributed to prices breaking... 

Platinum demand growth to be bolstered by FCEVs, says WPIC

By: Simone Liedtke     6th May 2021 Platinum in fuel cell electric vehicles (FCEVs) is a growing demand sector for platinum, with wider adoption dependent on the availability of an accessible hydrogen refueling network, says the World Platinum Investment Council (WPIC) in its latest newsletter on May 5. This FCEV growth is coming... 

Dig-free option for mining unearthed

By: Esmarie Iannucci     6th May 2021 A new mining technique that uses electric fields to extract metals from hard rock ore has been unveiled by researchers from the University of Western Australia (UWA), the Commonwealth Scientific and Industrial Research Organisation (CSIRO), the Technical University of Denmark and the University... 

Tropicana sale goes ahead

By: Esmarie Iannucci     6th May 2021 The Western Australian Minister for Mines and Petroleum has given consent for gold miner Regis Resources to acquire a 30% interest in the Tropicana gold project, clearing the transaction of all conditions precedent. Regis in April struck a A$903-million agreement with fellow-listed Independence... 

Magnetite raises cash for Razorback

By: Esmarie Iannucci     Updated 36 minutes ago ASX-listed Magnetite Mines will raise A$7-million in a share placement to sophisticated and institutional investors to advance studies at the Razorback iron-ore project, in South Australia. The company would issue more than 120.8-million shares, at a price of 5.8c each under its existing... 

Rio extends another apology to Traditional Owners

By: Esmarie Iannucci     Updated 38 minutes ago Diversified miner Rio Tinto has again pleaded for forgiveness for the destruction of the Juukan Gorge rock shelters in the Pilbara last year. Speaking at the company’s annual general meeting this week, CEO Jakob Stausholm that the destruction of the cultural heritage site had been ‘a terrible... 

Aus working on resource export strategy

By: Esmarie Iannucci     Updated 40 minutes ago The federal government has announced a A$20-million investment into a Global Resources Strategy, to help diversify exports and find new markets for Australia’s resources and Technology. Resources, Water and Northern Australia Minister Keith Pitt on Friday said that the aim of the new strategy is... 

A$58.6m added to gas-fired recovery

By: Esmarie Iannucci     Updated 1 hour 16 minutes ago The federal government this week announced A$58.6-million of new measures to advance its gas-fired recovery in a post Covid-19 economy. Energy and Emissions Reduction Minister Angus Taylor on Friday said that through the 2021-22 Budget, the government is building on the progress already made to... 

A$58.6m added to gas-fired recovery

Magazine round up | 07 May 2021 

Updated 5 hours ago A video round up of this week’s magazine, highlighting our cover story, features and Business Leader. 

Magazine round up | 07 May 2021

EU leaders want to challenge perceptions of lithium mining

By: Reuters     6th May 2021 Environmental worries have boosted anti-lithium sentiment across Europe and EU officials say it is crucial to show local populations that mining the metal used in electric car batteries is no longer a "dirty operation". Tapping European deposits of lithium is an important part of the bloc's... 

Ganfeng agrees takeover of Bacanora in $264.5m deal

By: Reuters     6th May 2021 China's Ganfeng Lithium, one of the world's top lithium producers, on Thursday said it had offered to buy the shares it does not already own in Mexico-focused Bacanora Lithium for up to 190-million pounds ($264.5-million). The deal, which values Bacanora at up to around 267-million pounds,... 

Ganfeng agrees takeover of Bacanora in $264.5m deal

Rio Tinto shareholders vote in favour of remuneration policy at AGM

By: Reuters     6th May 2021 A majority of Rio Tinto's shareholders rejected the global miner's executive pay packages on Thursday, in a backlash over its destruction last year of ancient rock shelters in Western Australia. Rio Tinto blasted 46 000-year-old rock shelters at Juukan Gorge last May to expand an iron-ore mine,... 

Rio Tinto shareholders vote in favour of remuneration policy at AGM

Shareholders to get more of silver miner Hecla’s cash flow

By: Mariaan Webb     6th May 2021 NYSE-listed Hecla Mining has hiked its silver-linked dividend by 50%, reflecting the miner’s confidence in its cashflow performance and position as the US’ largest silver producer. The company on Wednesday announced that the silver-linked dividend would be increased by $0.01 a year for each $5... 

Gold Fields on track to deliver on guidance

By: Martin Creamer     6th May 2021 Notwithstanding the impact of Covid-19, gold mining company Gold Fields produced attributable equivalent gold production of 541 000oz, which was largely flat year-on-year and down 9% quarter-on-quarter. The Johannesburg- and New York-listed company stated on Thursday, when it provided an... 

Gold Fields on track to deliver on guidance
Photo by Creamer Media
Gold Fields CEO Chris Griffith

Coronado completes first part of placement

By: Esmarie Iannucci     6th May 2021 Coal producer Coronado Global Resources has completed the institutional component of its 1-for-4.73 pro-rata accelerated non-renounceable entitlement offer, raising $87-million. The ASX-listed company on Thursday said that existing institutional holders had strongly supported the institutional... 

Ardiden weighs lithium asset sale

By: Esmarie Iannucci     6th May 2021 Junior gold explorer Ardiden has agreed to an exclusive option with Great Northern Lithium to potentially sell 80% of its lithium portfolio in a deal worth A$8.7-million. “Ardiden has been actively evaluating strategic options to best realise the full potential of its lithium assets. The... 

As prices soar, Taseko may develop Arizona copper project without a JV partner

By: Mariaan Webb     6th May 2021 At current copper prices, miner Taseko may choose to develop the $230-million commercial production facility at its Florence project, in Arizona, without a joint venture (JV) partner, CEO Russell Hallbauer said on Wednesday. The company already has most of the required construction funding for... 

As prices soar, Taseko may develop Arizona copper project without a JV partner

Trade tensions rise between China and Aus

6th May 2021 Advisory firm WoodMackenzie (WoodMac) has warned that the escalation in the geopolitical dispute between China and Australia was likely to have an impact on the resources sector. China’s state planner, the National Development and Reform Commission (NDRC) on Thursday reportedly announced an... 

Trade tensions rise between China and Aus

NSW clears the way for hydrogen/gas plant

By: Esmarie Iannucci     6th May 2021 The New South Wales government has given its blessing for energy provider EnergyAustralia to develop Australia’s first net zero emissions, hydrogen/gas power plant, striking an A$83-million funding agreement. EnergyAustralia has been given approval for the expansion of its existing Tallawarra... 

Copper holds near $10 000 as China’s return puts focus on demand

By: Bloomberg     6th May 2021 Copper hovered around $10 000 a metric ton as the return of Chinese investors from a three-day break put the spotlight on the strength of demand in the world’s top consumer. The metal climbed to the highest in a decade this week, fueling bets it will rally further to take out the record of $10... 

Copper holds near $10 000 as China’s return puts focus on demand

Albemarle profit beats expectations on rising lithium demand

By: Reuters     6th May 2021 Albemarle, the world's largest producer of lithium, posted a quarterly profit on Wednesday that easily beat Wall Street's expectations on rising demand from the electric vehicle industry. The company reported first-quarter net income of $95.7-million, or 84c a share, compared with... 

BHP's Covid recovery fund tracking well

By: Esmarie Iannucci     6th May 2021 Diversified miner BHP has spent more than A$18-million in community funding across Western Australia, and more than A$8 million in the Pilbara, over the past year, the miner revealed this week. The funding formed part if the major’s A$50-million Vital Resources Fund, which was established to... 

Origin adds more gas to southern markets

By: Esmarie Iannucci     6th May 2021 Energy provider Origin Energy has struck an additional gas supply and transport agreement that would increase gas supply to customers in southern markets. Under a four-year supply agreement with Australia Pacific Liquefied Natural Gas (LNG), Origin has secured up to an additional 91 PJ of gas... 

Northern Australia targeted for economic growth

By: Esmarie Iannucci     6th May 2021 The Queensland Resources Council (QRC) has welcomed the federal government’s intentions to invest A$190-million over the next five years as part of its growth plans for the region. Minsiter for Resources, Water and Northern Australia, Keith Pitt, announced the major investment package which was... 

Major funding boost to three hydrogen projects

By: Esmarie Iannucci     6th May 2021 The Australian Renewable Energy Agency (ARENA) this week announced the conditional approval of a A$103.3-million investment towards three commercial-scale renewable hydrogen projects, as part of its Renewable Hydrogen Deployment Funding Round. ARENA has increased its original hydrogen funding... 

Major funding boost to three hydrogen projects

Biden admin still undecided on Minnesota copper mine project -Vilsack

By: Reuters     5th May 2021 US Agriculture Secretary Tom Vilsack said on Wednesday that the White House has not decided on the fate of the Twin Metals copper mining project in Minnesota, as it works to balance economic growth and strong opposition from environmentalists. Vilsack's comments were among the first from a... 

Biden admin still undecided on Minnesota copper mine project -Vilsack
US President Joe Biden

Barrick’s Bristow criticises resurgence of market-plaguing short-termism 

By: Martin Creamer     5th May 2021 The rise in the gold price has prompted a resurgence of the short-termism which has plagued the market, with some investors focusing on short-term gains rather than sustainable growth, Barrick Gold CE Dr Mark Bristow said on Wednesday, when his New York- and Toronto-listed company paid a... 

Barrick’s Bristow criticises resurgence of market-plaguing short-termism
Barrick Gold CEO Mark Bristow

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