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40 MW solar power application making good progress ­– Gold Fields 

By: Martin Creamer     Updated 5 hours ago The application for the establishment of a 40 MW solar power plant at the large South Deep gold mine in western Gauteng is in process and making good progress, Gold Fields CEO Nick Holland said on Monday. Responding to Mining Weekly during the Johannesburg- and New York-listed company’s virtual... 

Gold Fields ESG presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Petra's shares fall as it announces proposed restructuring

By: Creamer Media Reporter      Updated 7 hours ago The share price of London-listed Petra Diamonds fell by nearly 10% on Tuesday morning, as it announced that it had reached an in-principle agreement with its lenders with respect to a long-term solution for the recapitalisation of the group and that it was no longer planning to sell the company... 

Petra's shares fall as it announces proposed restructuring
Photo by Creamer Media
Petra CEO Richard Duffy

Ivanhoe nears completion of Kakula mine development, processing plant

By: Marleny Arnoldi     Updated 5 hours ago Thanks to the "excellent" progress that has been made by TSX-listed Ivanhoe Mines in advancing the underground development of the Kakula mine, in the Democratic Republic of Congo, only 260 m of tunnelling remains until the access drives are connected. The northern and southern dual access... 

Massive grid investment needed to unlock IRP’s 30GW-by-2030 vision

By: Terence Creamer     Updated 1 hour 27 minutes ago State-owned electricity utility Eskom is warning that a significant and accelerated expansion of South Africa’s grid infrastructure, beyond that catered for by its current R118-billion investment plan to 2030, is required to integrate the 30 GW of mainly wind and solar generators that will have... 

 Massive grid investment needed to unlock IRP’s 30GW-by-2030 vision

Orion Minerals returns to drilling

By: Esmarie Iannucci     Updated 5 hours ago Copper developer Orion Minerals has launched a high-impact exploration programme at its Prieska project, in South Africa, to test prospective near-mine and regional targets. “We have compelling drill targets right across our Areachap tenement holdings in the Northern Cape that we have been... 

Diamcor closes first tranche of C$3.5m convertible loan

By: Creamer Media Reporter      Updated 31 minutes ago TSX-V-listed Diamcor Mining has closed the first tranche of a C$3.5-million convertible loan financing. The initial tranche included subscriptions from five investors for aggregate gross proceeds of C$954 500.  

Botswana sees 7.7 % growth in 2021 on diamond industry recovery

By: Reuters     Updated 1 hour 28 minutes ago Botswana's economy will rebound and grow 7.7% in 2021 from a 8.9% contraction forecast this year, on the back of improved sentiment in the global diamond industry, the finance minister said on Tuesday. Botswana's economy shrank by 24% in the second quarter of 2020 as coronavirus lockdowns at home... 

Perseus increases output in Sept quarter

By: Esmarie Iannucci     20th October 2020 Gold miner Perseus Mining ahs reported a 6% increase in production for the three months to September, as both the Edikan mine, in Ghana, and the Sissingue mine, in Cote d’Ivoire, continued to perform strongly. Gold production for the quarter reached a combined 68 772 oz, with Edikan producing 39... 

Kayelekera restart to cost $50m

By: Esmarie Iannucci     20th October 2020 A scoping study into restarting the Kayelekera uranium project, in Malawi, has confirmed that the project could be one of the first to restart production in order to meet impending uranium supply shortfall. ASX-listed Lotus Resources told shareholders that the scoping study estimated that the... 

Kayelekera restart to cost $50m

GoviEx launches sampling programme to investigate precious metals potential at Falea

By: Marleny Arnoldi     Updated 4 hours ago TSX-V-listed GoviEx Uranium has started a diamond drill core assay programme on the Falea deposit, in Mali. The objective of the sampling programme is to investigate the polymetallic and precious metals potential of the deposit below the uranium-bearing sandstone unconformity.  

Mali Lithium conducts project review

By: Esmarie Iannucci     20th October 2020 While a definitive feasibility study (DFS) into the Goulamina lithium project, in Mali, has proven the project’s economics, owner Mali Lithium has launched a review of both its lithium and gold assets to evaluate the ‘optimum path’ to realise value for shareholders. The DFS into the Goulamina... 

Small mining companies knocked for falling behind on diversity

By: Reuters     20th October 2020 Small mining firms are failing to increase their hiring of women while trading companies have made little progress in boosting Black representation, an industry conference heard on Monday. Employment of women in the traditionally male mining sector has risen and averages between 5% and 15%,... 

Gold drops as investors look to Washington for stimulus deal

By: Bloomberg     Updated 6 hours ago Gold fell after signs of progress in US stimulus talks aimed at reaching a deal ahead of the looming Presidential election. Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are narrowing their differences on a stimulus deal, a Pelosi aide said Monday. US equity futures advanced and the... 

BHP posts solid quarter

By: Esmarie Iannucci     20th October 2020 Mining major BHP has reported a solid quarter of iron-ore and petroleum production, while coal production in the September quarter decreased. “BHP has started the new financial year with a strong first quarter of safety and production performance. Group production rose 2% from a year ago driven... 

BHP posts solid quarter

Freeport exec elected International Copper Association chair

By: Creamer Media Reporter      Updated 15 minutes ago Steve Higgins, senior VP and chief administrative officer of US-based Freeport-McMoRan, has been elected chairperson of the International Copper Association (ICA) and chairperson of the LME’s copper committee. ICA is a nonprofit organisation with 35 members, including Freeport-McMoRan, that... 

BHP ditches $2bn Olympic Dam expansion plan

By: Mariaan Webb     Updated 1 hour 39 minutes ago Global diversified miner BHP has indicated that it will not proceed with the $2.1-billion brownfield expansion (BFX) project at its Olympic Dam mine, in South Australia, saying that the project's economics have encountered “challenges”. The BFX option, which was first announced in 2017, focused... 

BHP ditches $2bn Olympic Dam expansion plan

Australia’s commodities heartland set for major hydrogen plant

By: Bloomberg     Updated 2 hours 4 minutes ago The desolate red sands of the Pilbara region in western Australia, home to most of the iron-ore mines that account for a major chunk of the nation’s export income, may one day house an ambitious hydrogen export hub. The Asian Renewable Energy Hub, which would use electricity from wind and solar... 

Australia’s commodities heartland set for major hydrogen plant

DGO takes a stake in Yandal

By: Esmarie Iannucci     Updated 6 hours ago ASX-listed Yandal Resources has raised A$6-million through a share placement, with fellow-listed DGO Gold taking 8-million of the 12-million shares up for offer. DGO Gold now held an 8.7% interest in Yandal. 

Clean TeQ says goodbye to TSX

By: Creamer Media Reporter      Updated 6 hours ago Australia-focused Clean TeQ Holdings has announced its voluntary delisting from trading on the Toronto exchange, with the company’s shares to be delisted after close of trade on November 5. The exploration and development company, which owns the Sunrise Dam cobalt-rich nickel deposit in New... 

Oceana completes C$150m raise

By: Esmarie Iannucci     Updated 6 hours ago Dual listed gold miner OceanaGold has completed its C$150-million bought deal equity financing, issuing 73-million common shares at a price of C$2.06 each. The offered shares have been listed on the Toronto Stock Exchange. 

Macassa drilling results include 'extremely high-grade intersections'

By: Creamer Media Reporter      Updated 6 hours ago Gold miner Kirkland Lake has reported new drill results from 135 holes (47 683 m) of underground exploration drilling from the Macassa mine, aimed at confirmed and extending resources in the SMC, LSMC and Amalgamated zones. Resources within the Amalgamated zone consist of a series of mineralised... 

BC needs a carbon tax that protects environment and jobs – mining association

By: Creamer Media Reporter      Updated 6 hours ago Miners in British Columbia – a large steelmaking coal producer – have called for changes to the province’s carbon tax, arguing that playing field has to be levelled to aid final investment decisions and help the provincial economy recover and grow. The Mining Association of British Columbia... 

BC needs a carbon tax that protects environment and jobs – mining association

Jervois raises funds for US plans

By: Esmarie Iannucci     Updated 7 hours ago ASX- and TSX-V-listed Jervois Mining has raised A$45-million through a share placement to order long lead items for its Idaho cobalt operation, and to fund detailed engineering and ongoing site costs. The share placement comprised of more than 147.5-million shares, issued at a price of 30.5c... 

Brazilian miner Vale hints at fourth-quarter production boost

By: Reuters     Updated 7 hours ago Brazilian mining company Vale reported on Monday an increase in iron ore output in the third quarter and predicted a further boost in fourth-quarter output at some units, as a number of mines ramp up production or come online. In a securities filing, the company said it produced 88.7-million... 

Karlawinda on time - Capricorn

By: Esmarie Iannucci     Updated 7 hours ago Junior Capricorn Metals will start the drawdown on an A$80-million Macquarie Bank debt facility to develop its Karlawinda gold project, in Western Australia, after satisfying all conditions precedent for the financing. Capricorn is expected to produce first gold at Karlawinda in the June quarter... 

Oil Search cuts investments

By: Esmarie Iannucci     20th October 2020 ASX-listed Oil Search has lowered its capital investment guidance for 2020 as lower oil prices continued to prevail. The company on Tuesday noted that capital investment for the 2020 financial year is expected to reach between $390-million and $460-million, down from the previously budgeted... 

Deep-South closes second tranche to raise $2.41m 

By: Tasneem Bulbulia     19th October 2020 TSX-listed Deep-South Resources has closed a second tranche of the nonbrokered private placement for $1.04-million. The two tranches of the private placement have totalled $2.41-million. 

South Africa is well positioned to export green hydrogen ­– PwC  

By: Martin Creamer     19th October 2020 South Africa is in an extraordinary position to revolutionise its own economy and supply green hydrogen to the world, PwC said on Monday. “The energy transition is and will be biggest global theme this decade,” PwC associate director James Mackay told journalists at a virtual event covered by... 

PwC Hydrogen Report 2020 covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Eskom moves to secure R23bn granted by High Court for 2021, despite Nersa appeal 

By: Terence Creamer     19th October 2020 Eskom has launched a fresh legal bid to ensure that the automatic reintroduction of a R23-billion equity injection to its allowable revenue in 2021/22, as granted by the High Court in July, is not negated by the fact that the National Energy Regulator of South Africa (Nersa) has been granted... 

 Eskom moves to secure R23bn granted by High Court for 2021, despite Nersa appeal
Photo by Creamer Media's Donna Slater
Eskom CFO Calib Cassim presenting the utility's case at MYPD4 hearings in 2019

Shanta goes from strength to strength with New Luika plant

By: Marleny Arnoldi     19th October 2020 Aim-listed Shanta Gold says its processing plant at the New Luika gold mine, in Tanzania, continues to perform above its nameplate capacity, having milled 181 036 t in the quarter ended September 30, compared with the 176 415 t milled in the prior quarter. Shanta says plant expansions are on... 

South32 says Hermosa PFS delayed to next year

By: Mariaan Webb     19th October 2020 Diversified miner South32 has pushed out the completion of a prefeasibility study (PFS) for the Taylor deposit at the Hermosa base metals project, in Arizona, to the June 2021 half-year. The miner initially aimed to have a PFS for Taylor completed in the September quarter of this year. South32... 

South32 says Hermosa PFS delayed to next year

Low prices, demand results in drop in Afarak’s mining, processing volumes

By: Marleny Arnoldi     19th October 2020 LSE- and Nasdaq-listed Afarak Group has reported that its group production for the third quarter of the year at 40 766 t was 60.1% lower than the 102 219 t produced in the third quarter of 2019. This was owing to reduced mining activity in South Africa, the protection of staff amid Covid-19, low... 

Jervois Mining appoints sales GM

By: Tasneem Bulbulia     19th October 2020 Cobalt miner Jervois Mining has appointed Greg Young as executive GM of sales. Young is one of the world’s foremost traders of nickel and cobalt products, with extensive knowledge of the commodities, their materials flow, market indices and pricing strategies, the company says. 

Exxaro continues its role in ensuring food security, nutrition in communities

By: Marleny Arnoldi     19th October 2020 JSE-listed miner Exxaro Resources’ executive head of sustainability Mongezi Vetti has reiterated the company’s commitment to transferring its rehabilitated land to communities toward establishing agro-economies. This follows after President Cyril Ramaphosa on October 5 spoke about government’s... 

Exxaro continues its role in ensuring food security, nutrition in communities
Exxaro Resources’ executive head of sustainability Mongezi Vetti

Contango acquires quick-to-production project in Mali

By: Marleny Arnoldi     19th October 2020 London-listed Contango Holdings has acquired the Garalo project, in Mali, for $1-million. Contango states that the acquisition speaks to the company’s strategy of acquiring defined assets with near-term production potential and modest capital requirements.  

BlueRock sells 2 900 ct diamond parcel

By: Tasneem Bulbulia     19th October 2020 Aim-listed BlueRock Diamonds has sold 2 900 ct of diamonds recovered from its Kareevlei mine, in the Kimberley region of South Africa, at an average price of $300/ct for an aggregate consideration of $870 165.  “This is the third successful private sale conducted through an agent in South Africa... 

Omnia intends to sell Oro Agri business

By: Marleny Arnoldi     19th October 2020 JSE-listed chemicals group Omnia Holdings has reached an agreement to sell its Oro Agri business to Rovensa – a European-based business that procures and distributes biocontrol, bionutrition and crop protection solutions. Omnia in June received a nonbinding offer for the business, which... 

Omnia intends to sell Oro Agri business
Omnia CEO Seelan Gobalsamy

Pensana starts exploration at Coola

By: Esmarie Iannucci     19th October 2020 Exploration has started at ASX- and LSE-listed Pensana Rare Earth’s new Coola project, adjacent to its Longonjo neodymium-praseodymium (NdPr) project, in Angola. Pensana said on Monday that initial field programmes have started to test defined targets prospective for a range of critical... 

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40 MW solar power application making good progress ­– Gold Fields

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On-The-Air (16/10/2020)

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