R/€ = 17.41 Change: -0.03
R/$ = 14.65 Change: -0.05
Au 1741.68 $/oz Change: -5.56
Pt 1195.73 $/oz Change: -20.27

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Exploration industry has tight deadline to comment on controversial draft regulations  

By: Martin Creamer     9th April 2021 South Africa’s exploration industry has until April 19 to comment on controversial regulations still in draft form. “They’ve never consulted industry about it and what they are requesting is impractical,” says Allan Saad, a consulting exploration geologist, who formerly represented the now... 

Consulting exploration geologist Allan Saad interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Exxaro sells Coal Central operations to Overlooked Colliery 

By: Marleny Arnoldi     9th April 2021 JSE-listed diversified miner Exxaro Resources has signed a definitive sale and purchase agreement with black-owned mining entity Overlooked Colliery for the Exxaro Coal Central (ECC) operations. This while a disposal process is ongoing for the Leeuwpan coal mine.  

Exxaro sells Coal Central operations to Overlooked Colliery
Exxaro's Leeuwpan mine

S&P upgrades Petra’s credit rating, but negative outlook remains for now  

By: Marleny Arnoldi     9th April 2021 Ratings agency Standard & Poor’s (S&P) Global has raised its long-term issuer credit rating on London-listed Petra Diamonds to ‘B-‘ from ‘D’, after the company reduced its debt by $375-million and extended its maturities for the next two years. S&P forecasts that Petra’s ratings-adjusted debt... 

Alphamin achieves record $36m quarterly earnings

By: Marleny Arnoldi     9th April 2021 JSE- and TSX-V-listed Alphamin has generated a new quarterly record earnings before taxes, interest, depreciation and amortisation (Ebitda) of $36.5-million for the first quarter of the year. The higher Ebitda is on the back of 3 351 t of tin sales, which is a 45% improvement on the prior... 

Ivanhoe appoints energy veteran as chair of Kamoa Copper

By: Marleny Arnoldi     9th April 2021 TSX-listed Ivanhoe Mines has appointed Ben Munanga to succeed Louis Watum as chairperson. Kamoa Copper is the Democratic Republic of Congo (DRC) operating company of the joint venture between Ivanhoe Mines, Zijin Mining Group, Crystal River and the government of the DRC. 

Impala Rustenburg hands over SLP projects to communities

By: Tasneem Bulbulia     9th April 2021 Impala Rustenburg, a member of the Impala Platinum (Implats) group, on April 9 handed over nine completed social and labour plan (SLP) projects to communities near its operations. The projects represent over R94-million of investment from Impala Rustenburg, several years of work and the creation... 

Tirupati reaches 97% of nameplate capacity at Sahamamy project

By: Marleny Arnoldi     9th April 2021 London-listed Tirupati Graphite has achieved record production and sales at its Sahamamy mining operation, in Madagascar, in the first quarter of the year. The 3 000 t/y project has breached 97% of nameplate high-quality flake graphite production capacity.  

Gemfields generates first ruby revenue in 15 months

By: Marleny Arnoldi     9th April 2021 London-listed Gemfields has generated revenue of $58-million from seven online ruby auctions held during March 15 to April 8. The average selling price was $171.33/ct. 

Clean hydrogen private infrastructure investment fund launched

By: Schalk Burger     9th April 2021 A newly launched private infrastructure investment fund FiveT Hydrogen is dedicated to delivering clean hydrogen infrastructure projects at scale. The fund aims to raise €1-billion from a combination of financial and industrial investors and act as a catalyst in the scaling of the global hydrogen... 

Coal production from top mining companies to increase in 2021, says GlobalData

By: Tasneem Bulbulia     9th April 2021 Coal production from the top world's ten mining companies fell from a collective 1.70-million tonnes in 2019 to 1.63-million tonnes in 2020, which is a 4.2% decline. The most significant declines were observed from Arch Resources (28.6%), PT Bumi (24.9%), Glencore (23.9%) and Peabody (21.8%),... 

Apollo raises exploration funds

By: Esmarie Iannucci     9th April 2021 Junior Apollo Minerals will raise A$3.25-million through a share placement to fund exploration at its Kroussou base metals project, in Gabon. The ASX-listed Apollo on Friday reported that it would place up to 50-million shares, at a price of 6.5c each to sophisticated investors. The placement... 

Pantoro reaches milestone at Norseman

By: Esmarie Iannucci     Updated 30 minutes ago ASX-listed Pantoro has reached it’s A$50-million sole-fund milestone at the Norseman gold project, in Western Australia, forming an unincorporated joint venture (JV) with fellow-listed Tulla Resources. Pantoro on Monday told shareholders that as a 50% shareholder in the project, the company’... 

Reality check for copper bulls as Chinese demand growth slows

By: Reuters     Updated 44 minutes ago Copper long speculators are at risk of a price pull-back due to a delayed pick up in Chinese demand in its traditionally strong industrial consumption season in the second quarter. Bullish investors, who poured money into copper eyeing a commodity super-cycle, have already reduced exposure amid... 

Antipa JV's exploration budget increases

By: Esmarie Iannucci     Updated 48 minutes ago The joint venture (JV) partners for the Citadel copper/gold project, in Western Australia, have increased the exploration budget for 2021 from A$13.8-million to A$24.5-million. ASX-listed Antipa Minerals on Monday reported that as a result of JV partner Rio Tinto Exploration sole funding more... 

Allegiance secures funding from GEAR

By: Esmarie Iannucci     Updated 53 minutes ago Coal developer Allegiance Coal has reached a A$15-million private placement agreement with Singapore-listed Golden Energy and Resources (GEAR). The private placement with GEAR comes just days after Allegiance Coal raised A$15-million through a private placement to sophisticated and... 

Strickland raises exploration funding

By: Esmarie Iannucci     Updated 55 minutes ago ASX-listed Strickland Metals will look to raise more than A$5-million through a pro-rata rights issue to fund exploration work in Western Australia. The company on Monday announced that it would undertake a two-for-three non-renounceable pro-rata entitlement offer, priced at 1.8c a share. 

Santos incentivises Gallagher to stay put

By: Esmarie Iannucci     Updated 56 minutes ago Oil and gas major Santos has awarded CEO and MD Kevin Gallagher a A$6-million incentive to remain at the company’s helm until 2025. The company on Monday confirm that the board had agreed to a once-off growth projects incentive to ensure that Gallagher would see through the delivery of Santos’... 

Gold Road's Tropicana buy not finalised

By: Esmarie Iannucci     Updated 57 minutes ago Gold miner Gold Road Resources has reportedly missed out on acquiring fellow-listed Independence Group’s (IGO’s) 30% share of the Tropicana gold mine, in Western Australia. Gold Road on Monday responded to media speculation about potential discussions with IGO around its interest in the joint... 

Antofagasta says surging copper price not enough to entice big investments

By: Reuters     Updated 1 hour 20 minutes ago Miners will think twice before splashing out on major new projects even as copper prices have soared to decade-long highs this year, the CEO of Chile's Antofagasta told Reuters. Prices have surged in recent weeks amid expectations of a global economic recovery, sparking talk of a new investment... 

BHP, Vale Samarco JV files for Brazil bankruptcy protection

By: Reuters     10th April 2021 Samarco Mineracao, a joint venture between Brazilian miner Vale and BHP Group, has filed for bankruptcy protection to prevent creditors' claims from affecting its operations, Vale said in a Friday securities filing. The collapse of a dam at the Samarco mine complex in 2015 killed 19 people and... 

BHP, Vale Samarco JV files for Brazil bankruptcy protection

Cigar Lake uranium mine to restart this month

By: Creamer Media Reporter      10th April 2021 Canadian uranium major Cameco on Friday announced that the Cigar Lake mine, in northern Saskatchewan, would be reopened this month, but that the timing would depend on how quickly the workforce could be remobilised. Operations at the high-grade uranium mine were halted in December. At the time,... 

Cigar Lake uranium mine to restart this month
Cigar Lake

Kirkland Lake outperforms Q1 guidance

By: Mariaan Webb     9th April 2021 Gold miner Kirkland Lake on Friday announced its first-quarter results, exceeding its guidance on the back of higher-than-expected production at the Forsterville mine, in Australia, and the Detour Lake mine, in Canada. The company, which trades on the TSX, NYSE and ASX, produced 302 847 oz,... 

Price rebound, Covid-19 curbs put brakes on India buying

By: Reuters     9th April 2021 Physical gold demand in India stalled this week after local prices rebounded from a one-year trough and coronavirus restrictions were imposed, while buyers in other major Asian hubs were also put off by an uptick in prices. "This week gold prices rose in the international market and rupee also... 

Investors oppose Rio Tinto pay report over rock shelter outrage

By: Reuters     9th April 2021 Shareholders, including Norges Bank and the Local Authority Pension Fund Forum (LAPFF), said they voted against Rio Tinto's remuneration report at its London annual meeting (AGM) on Friday. Rio Tinto in September dismissed former chief executive Jean-Sebastien Jacques and two deputies in... 

Nornickel to minimise 2020 final dividend, considers buyback

By: Reuters     9th April 2021 Nornickel will minimise its final dividend for 2020, the Russian metals producer said on Friday, citing a recommendation from its board of directors. The board recommended a final dividend of 1 021.22 roubles ($13.25) per share, it said in a statement. 

Nornickel to minimise 2020 final dividend, considers buyback
Gareth Penny

House GOP planning climate package to counter Democrats

By: Bloomberg     9th April 2021 House Republicans plan to unveil their own plan to fight climate change later this month, according to three people familiar with the matter, a reflection of the pressure on the party to come up with solutions to a problem it had previously denied or ignored. The legislative package, being... 

Coal's share in India's power mix hits highest in over 2 years

By: Reuters     9th April 2021 Coal's share in India's electricity generation rose to the highest level in at least nine quarters during the first three months of 2021, government data showed, reversing a trend of renewable energy gaining at coal's expense. The share of renewable energy rose in 2020 when overall power demand... 

Rio Tinto and Calibre initiate 2021 exploration programme in Nicaragua

By: Creamer Media Reporter      9th April 2021 Toronto-listed Calibre Mining said on Thursday that it had launched the 2021 exploration programme at the Borosi project, held under an earn-in option agreement with Rio Tinto. More than 50 prospective target areas have been identified within the Borosi concessions, located in the prolific... 

Osisko drilling returns high grades at Lynx

By: Creamer Media Reporter      9th April 2021 TSX-listed Osisko Mining on Thursday released new results form the ongoing drill programme at its Windfall project, in Quebec. The new results include 78 intercepts in 46 drill and 12 wedges. The company says the infill intercepts are located inside defined February 2021 mineral resource... 

Pure Gold upsizes bought-deal financing

By: Creamer Media Reporter      9th April 2021 Ontario gold miner Pure Gold Mining has increased the size of its previously announced C$10-million bought-deal offering, on the back of strong demand. Pursuant to the upsized deal terms, Clarus Securities, as lead underwriter for a syndicate of underwriters, have agreed to 9 868 400... 

Barrick reaches Porgera deal, PNG to have majority stake

By: Mariaan Webb     9th April 2021 The Porgera gold mine is on track to reopen later this year, bullion major Barrick confirmed on Friday, announcing that a new binding framework had been agreed with Papua New Guinea (PNG). Under the terms of the agreement, signed in Port Moresby by Governor General Sir Bob Dadae and Barrick... 

Barrick reaches Porgera deal, PNG to have majority stake
The signing took place in Port Moresby on Friday.

Hydrogen, thermal coal, exploration make headlines   

9th April 2021 Mining Weekly Editor Martin Creamer unpacks Canada possibly taking the lead in the use of hydrogen underground, Anglo American demerging it’s South African thermal coal operations and how South Africa could unlock its exploration potential.   

Hydrogen, thermal coal, exploration make headlines

Brazilian miner Bahia Mineracao wins Fiol railway concession

By: Reuters     9th April 2021 Brazilian miner Bahia Mineracao won a government auction on Thursday for a concession to operate a segment of the East-West Integration Railway (Fiol), which will allow the company to more easily ship iron ore from its mine to a coastal port. Bahia Mineracao, a subsidiary of Kazakhstan's... 

Emerald on track for Q2 production

By: Esmarie Iannucci     9th April 2021 ASX-listed Emerald Resources is on track to start commissioning of its Okvau gold project, in Cambodia, by the second quarter of this year, with first gold pour also planned for the second quarter. “Our dedicated team in country has advanced the development of the Okvau gold project... 

Montem continues work in Alberta

By: Esmarie Iannucci     9th April 2021 ASX-listed coal developer Montem Resources has welcome the Alberta government’s decision to start an independent public consultation on a new coal development policy. The government’s plans to develop a coal policy followed its decision to rescind the 1976 coal policy in June of last year, and... 

Doing everything right - Greenland Minerals

By: Esmarie Iannucci     9th April 2021 ASX-listed Greenland Minerals on Friday moved to calm shareholder concerns around the future of the company’s Kvanefjeld rare earths project. The miner suspended share trading earlier this week after leader of the newly elected Inuit Ataqatigiit party told state broadcaster DR that the... 

New Century flags lower costs

By: Esmarie Iannucci     9th April 2021 Zinc miner New Century Resources has flagged improved economics for its 2021 financial year as the annual zinc concentrate benchmark treatment charge (TC) reduced by 47% compared with the 2020 benchmark. The ASX-listed miner on Friday noted that the 2021 TC has been set at $159/t, compared with... 

Rio and Turquoise Hill strike funding deal for Oyu Tolgoi

By: Esmarie Iannucci     9th April 2021 Diversified major Rio Tinto on Friday announced a binding heads of agreement (HoA) with Canadian miner Turquoise Hill Resources for an updated funding plan to complete the Oyu Tolgoi underground copper project, in Mongolia. The funding plan addresses the remaining $2.3-billion funding... 

Rio and Turquoise Hill strike funding deal for Oyu Tolgoi

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Exploration industry has tight deadline to comment on controversial draft regulations

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Hydrogen, thermal coal, exploration make headlines

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How South Africa can unlock its exploration potential ­– Adrian Reynolds

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