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Global mining sharing knowledge in response to Covid-19  

By: Martin Creamer     14th July 2020 The International Council on Mining & Metals (ICMM) has been convening many knowledge-sharing sessions in response to the coronavirus. Among ICMM’s 27 mining and metals company members and 36 association members are South Africa’s African Rainbow Minerals, Anglo American, AngloGold Ashanti,... 

International Council on Mining and Metals CEO Tom Butler talks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Minerals Council develops mining-focused water conservation tool 

By: Natasha Odendaal     15th July 2020 The Minerals Council South Africa has developed a user-friendly water conservation and water demand management (WC/WDM) tool for the mining sector. The water conservation and water demand management self-assessment reporting tool (WSART) can be used by the mining industry to conduct a... 

275 mine operations disrupted owing to Covid-19, says S&P Global Market Intelligence 

By: Simone Liedtke     15th July 2020 Analytics firm S&P Global Market Intelligence says 275 mining operations across the world have been disrupted as a result of Covid-19 to date. These operations span across 36 countries, with only 36 mines having reopened to some degree so far. Four of these have had to re-close after new... 

Copper’s 50% pandemic rally isn’t scaring bulls away yet

By: Bloomberg     15th July 2020 For a metal intrinsically tied to economic growth, copper has had a spectacular few months, surging about 50% from a March low to more than recoup its initial losses in the pandemic. Despite the uncertain global outlook as the coronavirus spreads, prices are holding near a two-year high. Is this... 

Doomsday hedge fund sees gold topping $3 000/oz

By: Bloomberg     15th July 2020 A hedge fund manager who returned 47% this year by betting on gold and Treasuries says the next decade is going to be marked by inflation that central banks are powerless to control. Diego Parrilla, who heads the $450-million Quadriga Igneo fund, says unprecedented monetary stimulus is fueling... 

Doomsday hedge fund sees gold topping $3 000/oz

WPIC says decarbonised future for aviation lies in hydrogen fuel cells

By: Marleny Arnoldi     15th July 2020 The World Platinum Investment Council (WPIC) in a recent statement discusses whether platinum-based fuel cells can propel the aviation industry towards a green post-Covid-19 future. It points out that, in the UK alone, aviation accounts for about 7% of total greenhouse-gas emissions and, prior... 

South Africa's Mantashe tests positive for Covid

By: News24Wire      15th July 2020 The Minister of Mineral Resources and Energy, Gwede Mantashe, and his wife, Nolwandle Mantashe, have tested positive for Covid-19. According to a statement by the Presidency, Mantashe and his wife received their test results earlier on Tuesday.  

South Africa's Mantashe tests positive for Covid
Mineral Resources and Energy Minster Gwede Mantashe

Galileo appoints renowned geologists for Botswana exploration

By: Marleny Arnoldi     15th July 2020 London-listed Galileo Resources has appointed the highly experienced and successful Kalahari Copper Belt exploration geologists Dr Quinton Hills and Fred Nhiwatiwa to its senior management team. Hills has been appointed to an advisory and supervisory role across all the company’s exploration... 

Premier removes another stumbling block in RHA's road to production

By: Simone Liedtke     15th July 2020 Aim-listed Premier African Minerals' RHA Tungsten project, in Zimbabwe, has received the go-ahead from the Ministry of Industry, Commerce and Enterprise Development that the directors of RHA should continue to act in that capacity, which effectively removes one of the stumbling blocks to finding... 

BHP faces first step in $6.3bn UK claim over Brazil dam failure

By: Reuters     15th July 2020 More than 200 000 Brazilian people and groups will next week kick off a five-billion-pound lawsuit against Anglo-Australian miner BHP in Britain over a 2015 dam failure that led to Brazil's worst environmental disaster. The group claim, one of the largest in British legal history, has been... 

BHP faces first step in $6.3bn UK claim over Brazil dam failure
Photo by Samarco
Samarco is a joint venture between BHP and Vale.

Real Energy and Strata-X to merge

By: Esmarie Iannucci     15th July 2020 ASX-listed Real Energy has struck a merger agreement with joint venture (JV) partner Strata-X Energy to create a new entity called Pure Energy Corporation with gas resources in the Surat and Cooper basins, in Queensland, and in the Republic of Botswana. Under the terms of the merger agreement,... 

Nordgold makes new offer for Cardinal

By: Esmarie Iannucci     15th July 2020 West Africa-focused gold explorer Cardinal Resources on Wednesday urged shareholders not to act on a competing takeover offer from producer Nordgold. Nordgold earlier on Wednesday made an on-market takeover offer for Cardinal offering 66c in cash for each share held. 

Nordgold makes new offer for Cardinal

Kodal secures $1.5m loan to advance Bougouni, exploration

By: Marleny Arnoldi     15th July 2020 Aim-listed Kodal Minerals has secured sufficient funding to complete the next phases of its development projects and to evaluate new opportunities. The company on July 15 announced that it had reached a $1.5-million unsecured convertible loan agreement with Riverfort Global Opportunities and a... 

Alamos announces shaft expansion at Ontario’s Island Gold mine

By: Mariaan Webb     Updated 7 hours ago Toronto-listed Alamos Gold is proceeding with an expansion of its Island Gold mine, in Ontario, Canada, which will significantly increase output, lower costs and turn it even more profitable. Alamos points out that Island Gold was already one of the most profitable mines in Canada. “The Phase 3... 

Alamos announces shaft expansion at Ontario’s Island Gold mine

US coal industry vulnerable to resurgent coronavirus infections

By: Creamer Media Reporter      Updated 7 hours ago The US coal industry has weakened after taking the brunt of lower electricity demand and is highly vulnerable to resurgent coronavirus infections that could further reduce demand for coal in a downside scenario, says Moody's Investors Service. The organisation expects weak second quarter... 

US coal industry vulnerable to resurgent coronavirus infections
Demand for electricity has fallen sharply since March.

Workers at Antofagasta's Zaldivar copper mine in Chile enter mediation to stave off strike

By: Reuters     Updated 7 hours ago Chile's Antofagasta and unionised workers at its Zaldívar mine entered into mediation with the government on Wednesday in a last-ditch effort to stave off a strike amid a coronavirus outbreak in the South American nation. Workers at the mine voted in favor of a walk-off late last week after... 

Final Pebble EIS expected next week

By: Mariaan Webb     Updated 7 hours ago The final environmental impact statement (EIS) for the Pebble copper/gold project, in Alaska, will be published in the federal register next week, Pebble Partnership CEO Tom Collier said on Wednesday. The US Army Corp of Engineers (USACE) previously targeted July 15 to publish the final EIS, and... 

Final Pebble EIS expected next week

US rare earths miner MP Materials to go public in $1.47bn deal

By: Reuters     15th July 2020 US rare earths miner MP Materials will go public in a $1.47-billion deal by merging with a private-equity backed blank-check company, underscoring Wall Street's rising interest in efforts to boost production of the strategic minerals. The listing on the New York Stock Exchange would be the first... 

Trevali restarts Santander

By: Creamer Media Reporter      15th July 2020 The Santander mine, in Peru, is reopening, with additional Covid-19 health controls in palce. Vancouver-headquartered Trevali Mining on June 25 suspended mining and milling operations to provide Covid-19 screening for all workers, after 19 tested positive when conducting routine testing. 

Cornerstone seeks to replace SolGold board

By: Mariaan Webb     15th July 2020 Canada’s Cornerstone Capital Resources said on Wednesday that it intended to requisition a general meeting to replace the entire board of LSE- and TSX-listed SolGold. Cornerstone, which is currently the subject of a hostile takeover from SolGold, owns 7.58% of the company, with other large... 

Cornerstone seeks to replace SolGold board
The SolGold board

Marmota raises cash for South Australian exploration

By: Esmarie Iannucci     15th July 2020 Junior explorer Marmota has raised A$6.5-million through a share placement priced at 5.3c each, to accelerate development of the Aurora Tank gold discovery, in South Australia. The placement will consist of more than 122.6-million shares, with one attaching unlisted option for every two new... 

PNX flags infrastructure solution in the NT

By: Esmarie Iannucci     15th July 2020 ASX-listed PNX Metals has inked a non-binding term sheet with Halifax Capital and its subsidiary Bridge Creek Mining (BCM), which could spur the development of the Fountain Head gold project, in the Northern Territory. Under the terms of the agreement, BCM could provide a capital investment of... 

Golden Predator accelerates Brewery Creek plans

By: Creamer Media Reporter      15th July 2020 TSX-V-listed Golden Predator Mining is accelerating work on the Phase 2 plan for the Brewery Creek mine restart, following the positive progress during the Phase 1 work that focuses on reprocessing of existing heap leach material. The Phase 2 study will evaluate resumption of the mining of new... 

Golden Predator accelerates Brewery Creek plans

Cornerstone rejects SolGold’s bid for the second time

By: Mariaan Webb     15th July 2020 The Canada-based partner of Ecuador-focused SolGold has again snubbed a takeover offer, with TSX-V-listed Cornerstone Capital Resources arguing that it is “wholly inadequate”, “exploitative” and not compliant with securities laws. Australia-headquartered SolGold, which is backed by BHP and... 

Cornerstone rejects SolGold’s bid for the second time
SolGold and Cornerstone both own ENSA, which is the Ecuadorian company that owns the Cascabel project.

New Gold taking a longer-term view as performance improves

By: Mariaan Webb     15th July 2020 Canadian gold miner New Gold is looking forward to a new phase of its growth strategy, CEO Renaud Adams said on Tuesday, telling investors that the company has improved its operational performance, reinforced its balance sheet and strengthened its liquidity position. New Gold’s two mines in... 

New Gold taking a longer-term view as performance improves
The Rainy River operation.

Black Cat set to raise A$10m

By: Esmarie Iannucci     15th July 2020 Gold explorer Black Cat Syndicate will raise A$10-million through a share placement to professional and sophisticated investors. The placement will be priced at 82c a share, which represents a 7.3% discount to Black Cat’s closing price on July 10. 

Lynas starts work on Kalgoorlie plant

By: Esmarie Iannucci     15th July 2020 Rare earths miner Lynas Corporation has marked the first step of the construction of its rare earths processing plant in Kalgoorlie with the award of a $15-million contract with Metso Outotec to supply the plant’s kiln. The 110 m-long, 1 500 t kiln is the largest and longest lead time piece of... 

Origin warns of massive impairment in full year

By: Esmarie Iannucci     15th July 2020 nancial year. The company told shareholders that the non-cash charges related to an updated year-end valuation estimate and was primarily driven by revised commodity price assumptions, the economic impacts of the Covid-19 pandemic, and the progressive transition to a lower carbon energy supply. 

Saracen restarts Carosue Dam

By: Esmarie Iannucci     15th July 2020 Gold miner Saracen Mineral Holdings has resumed ore processing at its Carosue Dam operations, in Western Australia, following a fatality at the site earlier this week. The company on Wednesday said that underground development and openpit mining would follow ‘imminently’. 

Woodside sets production records

By: Esmarie Iannucci     15th July 2020 – Oil and gas major Woodside has reported record production in the quarter ended June, with production reaching 25.9-million barrels of oil equivalent, up 7% on the first quarter. Output during the first half of the year also reached a record 50.1-million barrels of oil, up 28% on the previous... 

Woodside sets production records

Coburn important to gov plans - Pitt

By: Esmarie Iannucci     15th July 2020 Federal Resources, Water and Northern Australia Minister Keith Pitt on Wednesday said that the Coburn mineral sands project, in Western Australia, would boost the government’s Critical Minerals agenda. A A$150-million loan from the Northern Australia Infrastructure Facility (NAIF) was recently... 

Queensland offers funding for Sconi cobalt/nickel project

By: Esmarie Iannucci     15th July 2020 The Queensland government has offered ASX-listed Australian Mines a conditional financial support package for the development of its Sconi cobalt/nickel/scandium project. The support package will be funded from the government’s A$175-million Jobs and Regional Growth Fund and will be subject to a... 

Lundin defends early retirement package for Chile's Candelaria workers

By: Reuters     14th July 2020 Chile's Candelaria copper mine, run by the Canadian firm Lundin Mining, on Tuesday rejected claims by the mine supervisors' union that it is planning to lay off workers, saying the claim relates to the offer of an early retirement package for older workers. The supervisors' union said on Monday... 

Opec+ oil tensions ease after Saudis speak to Iraq and Nigeria

By: Bloomberg     14th July 2020 Saudi Arabia commended Iraq for implementing almost all its pledged oil-production cuts and Nigeria told the kingdom it was committed to hitting its target, in further signs that disputes among Opec+ members over cheating of quotas are being resolved. Saudi Energy Minister Prince Abdulaziz Bin... 

World’s biggest ruby mine reports coronavirus outbreak

By: Bloomberg     14th July 2020 The world’s biggest ruby mine, Gemfields’ Montepuez operation in northern Mozambique, has reported an outbreak of coronavirus. The company had already placed the operation under care and maintenance in April due to the pandemic, and on July 12 “a few” employees carrying out critical work tested... 

Power Metal makes strides towards self-sufficiency

By: Marleny Arnoldi     14th July 2020 Following activities to strengthen its balance sheet and raise financing, Aim-listed Power Metal Resources says it is now in a position to move forward more aggressively. As at July 10, the company’s assets amounted to £3-million.  

Kenmare achieves solid second-quarter results despite Covid-19 impact

By: Tasneem Bulbulia     14th July 2020 Dual-listed Kenmare Resources recorded solid results for the quarter and half year ending June 30, despite the pandemic. “I would like to thank our team at the Moma mine for how they have risen to meet the challenges posed by the Covid-19 pandemic. It is through their exemplary organisation, hard... 

Investors embracing gold as key portfolio hedging strategy, says WGC 

By: Simone Liedtke     14th July 2020 Investors have embraced gold as a key portfolio hedging strategy this year, particularly as expectations for a faster recovery from Covid-19 are shifting towards expectations of a slower recovery, or even potential setbacks from additional waves of infections, the World Gold Council (WGC) says.... 

Investors embracing gold as key portfolio hedging strategy, says WGC

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