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Northam Platinum strengthens liquidity, attracts R411m new funding 

By: Martin Creamer     25th May 2020 Platinum group metals mining company Northam Platinum has strengthened its liquidity position in response to Covid-19 by attracting R411-million of additional new long-term funding during the lockdown period as part of the completion of its R2.65-billion restructuring of its domestic medium-term... 

Northam Platinum strengthens liquidity, attracts R411m new funding
Photo by Cre
Northam CEO Paul Dunne

Engineering News & Mining Weekly e-magazine now available

21st May 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

Covid-19 workplace protocols must become ‘second nature’ for any further lockdown easing 

By: Terence Creamer     Updated 7 hours ago Organised business has called for domestic firms to take steps to ensure that their workplaces are Covid-19-ready in light of President Cyril Ramaphosa’s May 24 announcement that the country would transition from lockdown Level 4 to Level 3 from June 1, a move that will result in many more South... 

Covid-19 workplace protocols must become ‘second nature’ for any further lockdown easing
Photo by Creamer Media's Donna Slater
Busa president Sipho Pityana

AMCU calls for testing of all employees at affiliated workplaces 

By: Donna Slater     Updated 5 hours ago The Association of Mineworkers and Construction Union (AMCU) has again called on employers to test all employees for Covid-19 as the pandemic continues to spread across South Africa. AMCU notes that while it has consistently called for the testing of all workers, the official stance of... 

Mponeng detects 164 Covid cases, suspends mining – AngloGold Ashanti

By: Martin Creamer     24th May 2020 Gold mining company AngloGold Ashanti on Sunday confirmed that, following the detection of its first positive Covid-19 case at its Mponeng gold mine last week, a comprehensive screening, contact tracing and testing programme had revealed 164 positive cases at the site in Merafong, in Gauteng... 

Mponeng detects 164 Covid cases, suspends mining  – AngloGold Ashanti
Mponeng Gold Mine

Weekly Coal Index Report

Updated 6 hours ago Coal prices enjoyed a moderately volatile yet upbeat week, at least for API#4, although the RB1 discount widened a little. Rand strength also means that domestic prices are lower. The wider energy complex stabilised with oil prices moving higher, although natgas is still suffering from oversupply. 

Weekly Coal Index Report

M&R says order book remains healthy, despite delayed projects

By: Marleny Arnoldi     Updated 2 hours 18 minutes ago JSE-listed engineering and construction group Murray & Roberts (M&R) says few of its projects have continued with little or no disruption as a result of Covid-19-related suspensions and restrictions. As a result, the company is reasonably certain that its earnings per share (EPS) for the... 

Select Committee says DMRE is improving its service delivery

By: Marleny Arnoldi     Updated 5 hours ago The Select Committee on Land Reform, Environment, Mineral Resources and Energy has welcomed the plan to implement the proposed nuclear new build programme at a scale and pace that the country can afford to ensure the security of energy supply. The Department of Mineral Resources and Energy... 

Barrick settles North Mara land claims disputes through Tanzanian government partnership

By: Donna Slater     Updated 2 hours 20 minutes ago Gold miner Barrick Gold Corporation reports that it has settled the majority of historical land disputes associated with its Tanzania-based North Mara operation, in addition to paying the first tranche of the $300-million settlement it agreed with the Tanzanian government to resolve the disputes... 

Workers at China Moly's Congo mine end one-day strike over Covid-19

By: Reuters     Updated 5 hours ago Workers at China Molybdenum's Tenke Fungurume Mining (TFM) mine in Democratic Republic of Congo ended a one-day strike on Sunday after agreeing a compromise with management over compensation for working in isolation for two months due to COVID-19. The Chinese mining firm placed the TFM copper and... 

Zambia to amend mining rules to treat gold as strategic asset

By: , Bloomberg     25th May 2020 Zambia is moving to amend gold-mining rules so that they treat the metal as strategic. The cabinet agreed to amend the Mines Act to align it with a policy set last October to recognize gold as a strategic mineral. That requires production by artisanal miners to be bought through the state-owned... 

CRU warns most commodities have further to fall

By: Mariaan Webb     Updated 42 minutes ago As the economic fallout of governments’ responses to the Covid-19 pandemic is starting to be counted, commodity market analyst CRU has warned that the repercussions will be significant and that most commodities prices have not yet reached the bottom. The coronavirus crisis has affected all... 

CRU warns most commodities have further to fall
The steelmaking value chain continues to favour iron-ore miners as prices remain elevated.

Richards Bay titanium dioxide plant construction awaits Level 1 to restart

By: Marleny Arnoldi     Updated 50 minutes ago KwaZulu-Natal Economic Development, Tourism and Environmental Affairs MEC Nomusa Dube-Ncube has confirmed that the Richards Bay Industrial Development Zone will forge ahead with construction of a titanium dioxide plant as soon as the lockdown reached Level 1. Dube-Ncube says that the directors... 

Renewables associations call for green hydrogen focus in upcoming EU plans

By: Marleny Arnoldi     Updated 1 hour 25 minutes ago Ten solar and wind associations, along with industry leaders, have launched a joint initiative − Choose Renewable Hydrogen − and are calling for the European Commission to prioritise renewable green hydrogen in its upcoming recovery and strategy decisions. The initiative aims to highlight the... 

Northern Dynasty welcomes road transport plan for Pebble

By: Mariaan Webb     Updated 2 hours ago The US Army Corp of Engineers (USACE) has confirmed that an all land-based transport plan to connect the proposed Pebble mine, in Alaska’s Bristol Bay, to a port site is the preferred development scenario for the project. The USACE selected the land-based transport plan as the “least... 

Northern Dynasty welcomes road transport plan for Pebble
The Pebble deposit, in Alaska.

Nordic investors turn up heat on coal in climate campaign

By: Reuters     Updated 3 hours ago Five years after first ditching some coal companies, Nordic investors are turning their focus to bigger carbon emitters in a range of industries, paving the way for other funds to follow. Norway's sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), last week excluded... 

China steel body, producers call for domestic iron-ore output boost

By: Reuters     Updated 3 hours ago China's steel association and major steelmakers have called for an increase in domestic iron ore production as well as greater investment in exploration overseas to ensure supplies. He Wenbo, chairman of the China Iron & Steel Industry Association (CISA), recommended at the Chinese People's... 

Gran Colombia walks away from Guyana Goldfields, terminates Gold X deal

By: Mariaan Webb     Updated 3 hours ago Canadian miners Gran Colombia and Gold X Mining’s plans for a new Latin American gold champion fell through on Monday, as Gran Colombia announced that it had walked away from the acquisition of Guyana Goldfields. Guyana Goldfields has rejected Gran Colombia’s acquisition proposal and instead... 

Gran Colombia walks away from Guyana Goldfields, terminates Gold X deal
Guyana Goldfields' Aurora mill.

Barrick's Tanzania gold concentrate containers cleared for export

By: Reuters     Updated 5 hours ago Barrick's Tanzania subsidiary Twiga Minerals has resumed exports of gold concentrate after receiving clearance for its first shipments since the lifting of a government ban imposed during a tax dispute with the mining company. The dispute originally involved Acacia Mining, which was taken over... 

Barrick's Tanzania gold concentrate containers cleared for export

Kairos finds drill funding

By: Esmarie Iannucci     Updated 6 hours ago Junior explorer Kairos Minerals will raise A$4.2-million to fund drilling and exploration programmes at its Pilbara gold project, in Western Australia. The company on Monday said that it had received firm commitments to raise an initial A$2.5-million through a share placement priced at 1.1c a... 

Warrego raises A$15m

By: Esmarie Iannucci     Updated 6 hours ago ASX-listed Warrego Energy will raise A$15-million through a two tranche share placement to institutional and sophisticated investors to fund drilling at its West Erregulla assets, in Western Australia. The first tranche will consist of 94.9-million shares will be issued under the company’s... 

Kalium Lakes raises cash to fund Beyondie overrun

By: Esmarie Iannucci     Updated 6 hours ago Potash developer Kalium Lakes has raised A$48.8-million through the completion of a share placement and the institutional component of its entitlement offer, to fund the cost-overrun in the construction of its Beyondie sulphate of potash (SOP) project, in Western Australia. The company last... 

Santos and Denison start gas exploration in Qld

By: Esmarie Iannucci     Updated 6 hours ago Oil and gas major Santos and junior Denison Gas will start exploring for new gas resources in Queensland. Mines Minister Dr Anthony Lynham said Santos would seek new gas between Chinchilla and Roma and Denison Gas would start exploring for gas near Emerald.  

Resource exports remain strong - ABS

By: Esmarie Iannucci     Updated 6 hours ago New data by the Australian Bureau of Statistics (ABS) has shown that while the value of exports and imports of goods both decreased in April, demand for resource commodities remained strong. The preliminary international trade figures show that exports fell A$4-billion or 12% from the record... 

Dominion Diamond reaches agreement to sell substantially all its assets

By: Creamer Media Reporter      Updated 7 hours ago Struggling miner Dominion Diamond Mines, which filed for insolvency last month, has reached an agreement to sell substantially all its assets in a transaction that will allow mining operations at Ekati to resume and avoid bankruptcy. The company signed a letter of intent (LoI) with an affiliate... 

Dominion Diamond reaches agreement to sell substantially all its assets
The Ekati mine, in Northwest Territories.

Mining billionaire gets help from ex-spies in bitter legal fight

By: , Bloomberg     25th May 2020 Black Cube, the private intelligence agency run by former Israeli spies, spent months setting up companies around the world. Offices, websites and employees were painstakingly put in place -- all part of a sting targeting former executives at Brazilian mining giant Vale. The Black Cube... 

Mining billionaire gets help from ex-spies in bitter legal fight
The Simandou project, in Guinea.

Miners call for changes to boost investment

By: Esmarie Iannucci     25th May 2020 The Minerals Council of Australia (MCA) has urged the Australian government to implement reforms to lower taxes and shorten project approval times, to allow the minerals industry to play a greater role in supporting the economy post Covid-19. CEO Tania Constable on Monday said that the industry... 

NT gets serious about post-Covid economy

By: Esmarie Iannucci     25th May 2020 The Australian Petroleum Production and Exploration Association (Appea) has welcomed the formation of the Territory Economic Restructuring Commission in the Northern Territory. Chief Minister Michael Gunner said that the Territory Economic Restructuring Commission would be tasked with helping to... 

Western Areas takes major stake in Panoramic as part of capital raise

By: Esmarie Iannucci     25th May 2020 Nickel miner Panoramic Resources on Monday announced A$90-million capital raise to de-risk the restart of its Savannah nickel mine, in Western Australia, and to fund project enhancement activities. Panoramic told shareholders that it would undertake a fully underwritten institutional placement,... 

Western Areas takes major stake in Panoramic as part of capital raise

Full reopening of mining from June 1 – President Ramaphosa

By: Martin Creamer     24th May 2020 Subject to strict Covid-19 protocols, mining will be allowed to reopen fully from June 1, President Cyril Ramaphosa said on Sunday. In his address on South Africa’s response to the coronavirus pandemic, the President announced that South Africa would advance to level 3 from June 1, with an... 

Full reopening of mining from June 1 – President Ramaphosa
Photo by Creamer Media's Donna Slater
President Cyril Ramaphosa

Alrosa cuts production target by up to 17%

By: Creamer Media Reporter      22nd May 2020 Diamond major Alrosa on Friday announced that it would curtail 2020 production to between 28-million and 31-million carats, in response to the crisis unfolding in the global rough and polished diamond market. The 2020 production guidance compares with the group’s initial guidance of 34-million... 

Alrosa cuts production target by up to 17%

Australia’s Fortescue ups stake in Candente Copper

By: Mariaan Webb     22nd May 2020 Australian iron-ore major Fortescue Metals has made another C$1.38-million investment in TSX-listed Candente Copper, upping its interest to 19.92%. Through wholly owned subsidiary Nascent Exploration, Fortescue has subscribed for 27.5-million at C$0.05 apiece in Candente, which owns a... 

Council reaffirms industry’s commitment to fighting Covid-19 pandemic  

By: Tasneem Bulbulia     22nd May 2020 The mining industry is at the forefront of work being done to prevent the spread of Covid-19 in the workplace and will be subjected to intense scrutiny; however, it is undertaking adequate measures and responses to the pandemic and believes it is up to the task. The was indicated by industry... 

Council reaffirms industry’s commitment to fighting Covid-19 pandemic
Photo by Reuters
Mineworkers wearing PPE

All Star appoints seasoned mining veterans to its board

By: Marleny Arnoldi     22nd May 2020 London-listed junior mining investment company All Star Minerals has appointed Ian Harebottle and Richard Lloyd as directors. Harebottle is a former CEO of Aim-listed companies Gemfields and TanzaniteOne.  

Nordgold's first-quarter output up 4% y/y

By: Tasneem Bulbulia     22nd May 2020 Gold producer Nordgold’s production for the first quarter ended March 31 increased by 4% year-on-year to 225 900 oz, mainly driven by higher volumes of ore processed at Taborny and Gross mines, in Russia, and the Suzdal mine in Kazakhstan, as well as higher recovery rates at Gross, Suzdal and the... 

Trident raises funds to execute opportunities

By: Tasneem Bulbulia     22nd May 2020 Diversified miner Trident Resources has successfully placed 80-million new ordinary shares, at a price of 20p per ordinary share, raising gross proceeds of about £16-million, or about $20-million. The placing was led by Tamesis Partners, Ashanti Capital and Azure Capital and received strong... 

Kinross strike in Mauritania suspended

By: Creamer Media Reporter      22nd May 2020 Unionised employees at the Tasiast mine, in Mauritania, have suspended their strike at the request of the government, TSX- and NYSE-listed Kinross Gold reported on Friday. The company affirmed that the shutdown would not have a material impact on its 2020 production, or the development of the... 

A gold vault in London is key to a $62bn ETF’s success

By: , Bloomberg     22nd May 2020 Gold-backed ETFs are on pace for a record haul in a year that’s seen some funds tracking oil futures founder. Investors have poured unprecedented amounts of cash into gold exchange-traded funds, with inflows totaling $16.8-billion in less than five months and set for a record year, according to... 

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