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Anglo going to great lengths to support South Africa in its Covid-19 hour of need 

By: Martin Creamer     6th April 2020 Diversified mining company Anglo American is going to remarkable lengths to support South Africa through the devastating Covid-19 crisis. The London- and Johannesburg-listed company, headed by Australian Mark Cutifani, is showing far-reaching corporate humanitarianism by taking firm steps to... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need
Photo by Bloomberg
Mark Cutifani

Covid-19 preventing shareholders from attending Anglo AGM

By: Martin Creamer     Updated 1 hour 47 minutes ago Shareholders will not be permitted to attend this year’s annual general meeting (AGM) of Anglo American because of Covid-19 restrictions but have been invited to submit questions electronically in advance for answering at the AGM. 

Engineering News & Mining Weekly e-magazine now available

2nd April 2020 For the duration of South Africa’s 21-day 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

Standard Bank notes SARB’s hold-back guidance on dividends, bonuses

By: Martin Creamer     Updated 2 hours 56 minutes ago Africa’s biggest bank by assets, Standard Bank Group, said on Tuesday that it had noted the contents of the guidance of the Prudential Authority of the South African Reserve Bank (SARB) on dividend distributions to ordinary shareholders. SARB’s Prudential Authority, headed by Kuben Naidoo, has... 

Standard Bank notes SARB’s hold-back guidance on dividends, bonuses
Sim Tshabalala

Tailings risk management still not up to standard – foundation

By: Marleny Arnoldi     Updated 3 hours ago The mining industry is still “dragging its heels” on the step-change measures required to prevent catastrophic tailings failures, such as the Brumadinho tailings dam collapse in Brazil that killed 270 people, says Responsible Mining Foundation (RMF). In the newly released 'Responsible Mining... 

BlueRock increases Q1 diamond sales, uncertain of Covid-19 impact

By: Natasha Odendaal     Updated 1 hour 17 minutes ago Aim-listed listed diamond producer BlueRock Diamonds’ good performance during the first quarter of 2020 has been overshadowed by the ongoing Covid-19 pandemic which has halted operations. The group, which owns and operates the Kareevlei diamond mine, in Kimberley, sold 3 267 ct during the first... 

Buffalo Coal appoints CEO, CFO

By: Simone Liedtke     Updated 2 hours 8 minutes ago South African coal miner Buffalo Coal has appointed Emma Oosthuizen as its CEO. Oosthuizen has been interim CEO since February 2019 following the resignation of the previous CEO. 

Barrick progressing towards modern miner goal 

By: Simone Liedtke     6th April 2020 Following its merger with Randgold Resources, NYSE- and TSX-listed Barrick Gold has made progress towards its goal of being a modern mining business, according to executive chairperson John Thornton in the company’s information circular for 2020 published on April 6. The circular follows the... 

Barrick progressing towards modern miner goal
Barrick executive chairperson John Thornton

Healthy 2019 profits, cash generation to help Gemfields through Covid-19

By: Marleny Arnoldi     6th April 2020 JSE- and Aim-listed Gemfields delivered record group revenue and a healthy growth in operating profit in the year ended December 31, 2019; however, the fallout from Covid-19 is expected to have an adverse impact on the company’s operating and financial performance this year. “Widespread travel... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

By: Simone Liedtke     6th April 2020 Owing to unprecedented lockdown in much of Europe, the US and across the globe, the world is currently experiencing considerably lower economic activity, which in turn significantly reduces commodity consumption, says ratings agency Fitch Ratings. As a result, it expects global gross domestic... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

Keep calm and carry on (communicating)

By: Creamer Media Reporter      6th April 2020 During the Covid-19 crisis, it is essential for companies to keep on communicating. During the Covid-19 crisis, Creamer Media is offering companies exposure to our readership, who are decision makes in South African industry and mining.  Creamer Media has invited companies and public relations... 

Keep calm and carry on (communicating)

Kazatomprom slashes 2020 uranium guidance

By: Creamer Media Reporter      Updated 49 minutes ago Kazakhstan’s uranium major, Kazatomprom, on Tuesday announced that its uranium production volumes would decrease by about 4000 t, owing to measures imposed to combat Covid-19. The previous guidance for 2020 was 22 750 t to 22 800 t, on a 100% basis. The reduced production level should not... 

Gold Road targets A$26m exploration spend

By: Esmarie Iannucci     Updated 1 hour 24 minutes ago Gold miner Gold Road Resources has set an exploration budget of A$26-million for the 2020 financial year, with the miner saying on Tuesday that it’s the majority of this work would be geared towards discoveries on the Yamarna belt, in Western Australia. Gold Road holds 4 500 km2 of land position... 

Blackstone signs share deal with EcoPro

By: Esmarie Iannucci     Updated 1 hour 26 minutes ago Junior Blackstone Minerals has inked a share purchase agreement with Korea’s largest nickel-rich cathode materials manufacturer EcoPro, which will result in a A$6.8-million investment into the ASX-listed company. Under the purchase agreement, EcoPro would acquire 40-million shares in Blackstone... 

Golden Investment's stake in Stanmore jumps

By: Esmarie Iannucci     Updated 1 hour 28 minutes ago Takeover target Stanmore Coal has again urged shareholders not to take any action in relation to a takeover offer from suitor Golden Investments, after its shareholding in the company increased from just over 31% to around 51%. Golden Investment last week launched a takeover bid for Stanmore,... 

Anglo Asian uses chartered flight to send gold to Switzerland

By: Marleny Arnoldi     Updated 2 hours 3 minutes ago Aim-listed Anglo Asian Mining has made a further shipment of gold doré bars containing 4 688 oz of gold to MKS Finance, in Switzerland, by way of air-charter. This follows after the company in March stated that owing to the cessation of scheduled air flights amid the Covid-19 pandemic, the... 

Atalaya sets copper guidance for 2020

By: Marleny Arnoldi     Updated 2 hours 4 minutes ago A lower average copper price realised for the year ended December 31, 2019, resulted in TSX- and Aim-listed Atalaya Mining generating lower aftertax profit of €31-million, compared with €34-million in the year ended December 31, 2018. The average copper price realised in the year under review... 

Marketing deal signed for New Elk coal

By: Esmarie Iannucci     Updated 3 hours ago ASX-listed Allegiance Coal has finalised a sale and marketing agreement with M Resources Trading over the coal produced at its New Elk mine, in Colorado. The agreement provides for an exclusive global sales and marketing arrangement spanning five years, with M Resources’ marketing fees to be... 

Dazzler resource increases by 50%

By: Esmarie Iannucci     Updated 3 hours ago ASX-listed Northern Minerals has reported a 50% increase in the mineral resource estimate for the Dazzler rare earths deposit, at its Browns Range project, in Western Australia. The deposit is now estimated to host 214 000 t of ore, grading 2.33% total rare earth oxide for five-million kilograms... 

Pure's Tech hub proves economical

By: Esmarie Iannucci     Updated 3 hours ago An updated prefeasibility study (PFS) into the Townsville Energy Chemicals Hub (Tech) project, in Queensland, has confirmed its potential to deliver excellent economic results while remaining financially robust in a downward price cycle. Owner Pure Minerals noted that the Tech project will... 

Oil Search looks to raise A$1.1bn

By: Esmarie Iannucci     Updated 4 hours ago Oil and gas major Oil Search is hoping to raise some A$1.1-billion to assist the company in retaining liquidity during the low oil-price environment. The equity raising will consist of an underwritten institutional placement to raise an initial A$760-million, and an accelerated... 

Oil Search looks to raise A$1.1bn

Newcrest establishes Covid-19 fund

By: Esmarie Iannucci     Updated 4 hours ago Gold miner Newcrest Mining has established a A$20-million community support fund to assist host communities during the Covid-19 pandemic. The miner on Tuesday said that a portion of the fund would go towards vaccine research, while around half of the fund will be dedicated to assisting Papua New... 

Marathon presents study results of ‘Atlantic Canada’s largest gold producer’

By: Creamer Media Reporter      Updated 4 hours ago TSX-listed Marathon Gold has published the results of the prefeasibility study (PFS) for the Valentine gold project, in central Newfoundland, which support an openpit mining operation with low initial capital cost and high rate of return over a 12-year mine life. “The Valentine project is... 

New Gold brings back Rainy River

By: Creamer Media Reporter      Updated 5 hours ago TSX- and NYSE American-listed New Gold has begun a systematic ramp-up of operations at the Rainy River mine, in Ontario, following the completion of a voluntary 14-day suspension to adhere to provincial and federal Covid-19 guidelines related to out-of-country travel that impacted a significant... 

Freeport-McMoRan workers at New Mexico mine test positive for coronavirus

By: Reuters     Updated 5 hours ago Three employees at a New Mexico mine owned by Freeport-McMoRan, the world's largest publicly traded copper producer, have tested positive for Covid-19, the state's lieutenant governor said on Monday. It was not immediately clear if operations at the mine have been affected. A Freeport... 

Newcrest pulls out of GFG’s Wyoming project

By: Creamer Media Reporter      6th April 2020 Australian miner Newcrest has withdrawn from the option and earn-in agreement for the Rattlesnake Hills gold project, in Wyoming, US, TSX-V-listed GFG Resources has said. Since September 2018, Newcrest has invested $5-million in exploration expenditures on the project, which included more than 4... 

TSX-V approves Seagull Lake JV

By: Simone Liedtke     6th April 2020 The Toronto Venture Exchange (TSX-V) has approved a transaction in which Quadro Resources obtained an option to acquire a 70% interest in the platinum-palladium prospective Seagull Lake property from fellow-listed White Metal Resources. The project, which covers 7 539 ha, is located about 50 km... 

Covid-19 delays Wesizwe Platinum’s results

By: Martin Creamer     6th April 2020 Platinum group metals project developer Wesizwe Platinum has delayed the publication of its financial results for the year ended December 31. The Johannesburg-listed company put the reason for the delay down to South Africa’s Covid-19 lockdown, which required the Bakubung platinum mine project to... 

Yamana remobilises Cerro Moro, seeks clarity on Quebec restrictions

By: Mariaan Webb     6th April 2020 Canadian gold miner Yamana Gold on Monday reported that it was remobilising its Cerro Moro gold and silver mine in Argentina and said that it was also seeking clarity on whether its Canadian Malartic gold mine, in Quebec, could resume operations next week. The Cerro Moro mine transitioned to a... 

Yamana remobilises Cerro Moro, seeks clarity on Quebec restrictions

Gem concludes flexible tender sales process

By: Tasneem Bulbulia     6th April 2020 LSE-listed Gem Diamonds’ second round of the flexible tender sales process has been concluded and raised a further $6.7-million for a selection of  large, high-quality diamonds recovered at its Letšeng mine, in Lesotho. The company achieved an average value of $1 615 /ct for the first quarter of... 

Centamin donates to Egypt’s Covid-19 response

By: Tasneem Bulbulia     6th April 2020 Midtier gold producer Centamin, operator of the Sukari gold mine, has committed ten-million Egyptian pounds, equivalent to about $635 000, to support Egypt's response efforts to combat the coronavirus pandemic. As the country's largest mining company, and significant local employer, early action... 

Former Canadian Minister joins Osisko Gold Royalties board

By: Creamer Media Reporter      6th April 2020 Dual-listed Osisko Gold Royalties on Monday announced the appointment of John Baird – a former Foreign Affairs Minister of Canada – to its board of directors. “In our discussions with John, we have been excited to have his insights on global affairs and interactions with government, an ideal... 

Mintek produces own sanitisers to assist with Covid-19 response

By: Tasneem Bulbulia     6th April 2020 As supply of sanitisers continue to run low owing to high demand, national mineral research organisation Mintek has produced more than 600 ℓ of hand and surface sanitisers to use and distribute to staff. Sanitisers were produced in Mintek's controlled laboratory environment in the Advanced... 

Nevada Copper suspends Pumpkin Hollow production

By: Mariaan Webb     6th April 2020 Copper production has been suspended at the Pumpkin Hollow mine, as a result of stringent travel and workplace restrictions that the US state of Nevada imposed to combat the spread of Covid-19. The suspension of production is expected to last for at least six weeks, owner Nevada Copper, which... 

Nevada Copper suspends Pumpkin Hollow production

Kore gets extended enviro compliance certificate for two Congo licences

By: Marleny Arnoldi     6th April 2020 ASX-, Aim- and JSE-listed Kore Potash has been granted 25-year certificates of environmental compliance by the Congo-Brazzaville government for the Dougou and Kola mining licences. The environmental- and social-impact assessments (ESIAs) for both licences previously required reapproval on a... 

Spain allows copper mine to resume as supplier to essential industries

By: Mariaan Webb     6th April 2020 Aim- and TSX-listed Atalaya Mining on Monday confirmed that operations had resumed at its Proyecto Riotinto copper mine, in Spain, after the mining department of Junta de Andalucía clarified that mining operations supplying other essential industries should continue to operate. Atalaya stopped... 

Spain allows copper mine to resume as supplier to essential industries
The Proyecto Riotinto mine has resumed operations.

Pembridge reduces economic interest in Minto

By: Simone Liedtke     6th April 2020 LSE-listed Pembridge Resources is set to restructure the share ownership of its Minto copper mine, in Canada. In light of the current financial market conditions owing to the outbreak of Covid-19 globally, and the potential for material cash calls on Pembridge, the company, with other Minto... 

Gold’s supply squeeze should ease as Swiss refineries reopen

By: Bloomberg     6th April 2020 The supply shortages in the gold market will likely ease in the coming weeks as Swiss refineries start running again. Three major plants in the Swiss canton of Ticino, Europe’s biggest gold-refining hub, have said they’ve received permission from local authorities to run their factories at a... 

Gold’s supply squeeze should ease as Swiss refineries reopen
Photo by Bloomberg
Gold refining in Switzerland

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