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Investors in mining exploration should be incentivised – ANC’s ETC

By: Martin Creamer     Updated 6 hours ago Listings of mining companies on the Johannesburg Stock Exchange should be encouraged and South African retail investors willing to invest in mining exploration should be incentivised as is the case in other mining jurisdictions, the economic transformation committee (ETC) of the African National... 

Investors in mining exploration should be incentivised – ANC’s ETC
Photo by Creamer Media
ANC document says mining exploration should be incentivised.

Return of foreign mineworkers taking double planned time  

By: Martin Creamer     Updated 7 hours ago The return of the 12 500 foreign mineworkers to South Africa’s mines is taking double the time planned. The initial ten-day plan of Minerals Council South Africa has become a 20-day plan because of the need to overcome bottlenecks. 

Minerals Council South Africa Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Pan African board approves development of 10 MW solar plant at Elikhulu 

By: Martin Creamer     10th July 2020 The board of gold-mining company Pan African has approved the development of a 10 MW solar photovoltaic project at the Elikhulu gold-from-tailings operation in Evander, Mpumalanga, the London-, Johannesburg- and now also New York-listed Pan African stated on Friday. Earlier this month, the... 

Pan African board approves development of 10 MW solar plant at Elikhulu
Photo by Creamer Media's Donna Slater
Gold pour at Elikhulu gold plant.

Pan African reports higher output, lower debt, upped guidance, intensified dividend intent 

By: Martin Creamer     10th July 2020 Despite the challenges presented by the Covid-19 pandemic, Pan African Resources on Friday reported higher gold production, lower debt, good safety, environmental progress, project advances and intensified dividend intent. In an operational update for the year ended June 30, the London-,... 

Pan African reports higher output, lower debt, upped guidance, intensified dividend intent
Hydraulic mining of Pan African's surface tailings.

Infrastructure at core of business’ R3.4-trillion economic recovery proposal 

By: Terence Creamer     10th July 2020 Business for South Africa released an economic recovery strategy paper on July 10 that includes a list of 12 priority initiatives, many infrastructure-related, which the formation argues could bolster gross domestic product by R1-trillion, create up to 1.5-million jobs and increase yearly tax... 

Infrastructure at core of business’ R3.4-trillion economic recovery proposal
B4SA paper says green-economy investments should be accelerated as part of infrastructure-led recovery

Weekly Coal Index Report

Updated 3 hours ago Almost all coal exporters are now looking to cut production quite significantly. Prevailing weak export markets, combined with fixed price take-or-pay rail and port contracts, are combining to ensure losses for almost every tonne mined now. Higher quality producers can retain a competitive edge... 

Weekly Coal Index Report

Jubilee delivers sixth consecutive six-month period of double-digit growth

By: Simone Liedtke     Updated 1 hour ago Aim- and AltX-listed Jubilee Metals delivered a sixth consecutive six-monthly period of double-digit growth with a 54% year-on-year increase in combined operational earnings for the first half of year at £12.8-million. Jubilee also achieved an 18% year-on-year increase in combined first half... 

Minerals Council welcomes B4SA’s economic recovery strategy 

By: Simone Liedtke     10th July 2020 Minerals Council South Africa has welcomed the accelerated economic recovery strategy published on July 10 by Business for South Africa (B4SA), which is aimed at achieving higher levels of inclusive economic growth to recover from the Covid-19 crisis and the economic crisis that preceded it.... 

ANC suggests pension funds take some Eskom assets 

By: Bloomberg     10th July 2020 The Economic Transformation Committee of South Africa’s ruling African National Congress suggested that pension funds take over some of the assets of the indebted state power company. The proposal to transfer parts of Eskom Holdings SOC Ltd. into non-state hands was made in a discussion document... 

ANC suggests pension funds take some Eskom assets

Johannesburg gold stocks slay records as virus bolsters bullion

By: Bloomberg     10th July 2020 The red-hot rally in gold prices driven by investor concern about the coronavirus pandemic and its impact on the global economy has propelled South African gold stocks to record-slaying highs. A Johannesburg index of producers has surged more than 90% this year, even as the broader South African... 

Zimbabwe gold mines lure offshore investor despite economic ruin

By: Bloomberg     10th July 2020 Zimbabwe’s biggest gold mines are being snapped up by Mauritius-based Sotic International as the price of bullion soars to the highest in more than eight years. Landela Mining Ventures, which is controlled by Sotic, bought two of Zimbabwe’s gold mines this year. The newcomer is targeting six more... 

Copper is surging, but it doesn’t mean economy is booming

By: Bloomberg     10th July 2020 Copper prices are surging, and for once it’s not because the economy is booming. The metal – known colloquially as Dr. Copper because its performance is often used to gauge the health of the overall economy – has surged by a staggering 45% since mid-March. That’s despite the International... 

South Africa urged to recycle more of its copper scrap

By: Donna Slater     10th July 2020 Given limited domestic copper production, South Africa should prioritise the recycling of copper scrap to ensure there remains sufficient stock as the economy changes to be more energy efficient and less reliant on fossil fuels, Copper Development Association Africa (CDAA) executive chairperson... 

Zambia copper production rises to 342 734 t in first five months of 2020 – govt

By: Reuters     10th July 2020 Zambia's copper production increased to 342 734 t in the first five months of this year, from 330 024 t in the same period of 2019, the ministry of mines said on Thursday. Copper production was projected to continue rising in the third and fourth quarters of 2020 in line with rising prices driven... 

Chesser raises cash for Senegal project

By: Esmarie Iannucci     10th July 2020 Gold explorer Chesser Resources will raise A$6-million to fund large-scale drilling at the Diamba Sud gold discovery, in Senegal. The company has received firm commitments from institutional and sophisticated investors for the placement of 75-million shares, at a price of 8c each. 

Thermal scanning system helps speed up Covid-19 screening

By: Schalk Burger     10th July 2020 Pretoria-based technology company Foresight Security has installed a locally developed thermal scanning system at a mine in the Northern Cape to help detect any possible cases of Covid-19. The system is capable of scanning two rows of mineworkers walking at a normal pace without them having to... 

Chinese gold demand to remain strong regardless of pace of economic recovery, says the WGC

By: Marleny Arnoldi     10th July 2020 Gold has received more investment than all other major Chinese asset classes in the first half of this year, says the World Gold Council (WGC). In a WGC blog post, research manager Ray Jia says gold demand in China, particularly investment demand, has benefited from rising concerns about the... 

IEA warns oil demand recovery at risk from virus resurgence

By: Bloomberg     10th July 2020 The International Energy Agency bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the second quarter was slightly less severe than previously estimated, and demand should rebound... 

Oriole Resources commences drilling at Faré target

By: Donna Slater     29th June 2020 Aim-listed West Africa-focused exploration company Oriole Resources has started a 10 000 m air-core (AC) drilling campaign at the Faré target within the north of its Senala project, in Senegal. The project, which is operated under a joint venture (JV) with partner Iamgold Corporation, presents... 

Kobe, Vale and Mitsui team up on low CO2 iron-making

By: Creamer Media Reporter      Updated 26 minutes ago Japanese steelmaker Kobe Steel is collaborating with the iron-ore major Vale and global trading and investment company Mitsui on providing low carbon dioxide (CO2) iron metallic and iron-making solutions. Kobe says the direct reduction iron-making technology of its US subsidiary, Midrex... 

Panther Metals enlarges Big Bear project area

By: Creamer Media Reporter      Updated 48 minutes ago LSE-listed explorer Panther Metals has acquired additional mining claims, enlarging its Big Bear project area, in the Schreiber-Hemlo greenstone belt of Canada. The company bought an additional 19 mining claims, which include coverage for the southerly extension of the historical Schreiber... 

Drilling results confirm high-grade intersections at Pensana's Angola project

By: Simone Liedtke     Updated 54 minutes ago Dual-listed Pensana Rare Earths has completed a further 34 holes of its 8 000 m drill programme at the Longonjo project, in Angola, the results of which confirm particularly high-grade intersections from surface in the area of proposed first mining.   The programme is in support of the bankable... 

Nornickel dismisses Talnakh concentrator management for enviro violations

By: Mariaan Webb     Updated 2 hours 15 minutes ago Russian mining company Nornickel has dismissed the management of the Talnakh concentrator for gross misconduct, after an internal investigation discovered two instances of unauthorised industrial water discharge. The world’s largest producer of palladium and high-grade nickel said in a statement... 

Nornickel dismisses Talnakh concentrator management for enviro violations
Nornickel COO Sergey Dyachenko

Australia's Metals X breaches loan covenants to focus on Tasmanian mine

By: Reuters     Updated 2 hours 55 minutes ago Australia's Metals X Ltd said on Friday it breached two financial covenants of a facility agreement with Citibank as it chose to go ahead with the development of the Renison tin mine in Tasmania. The tin producer said cash flows will be hit by its decision to develop the mine, which requires... 

Incident halts Carosue Dam - Saracen

By: Esmarie Iannucci     Updated 3 hours ago Gold miner Saracen Mineral Holdings has suspended operations at its Carosue Dam operations, in Western Australia, following a ‘serious incident’ at the Dervish mine. The ASX-listed miner reported that an underground worker had fallen from a height. 

OceanaGold still fighting for Didipio

By: Esmarie Iannucci     Updated 3 hours ago Dual listed gold miner OceanaGold on Monday said that it had not received any formal order from the Philippines Court of Appeal regarding its plea to allow for the interim operation of the Didipio mine, while it challenges the legality of a stop order. The company in July applied for an... 

OceanaGold still fighting for Didipio

Alto raises funds for WA drilling

By: Esmarie Iannucci     Updated 3 hours ago Junior Alto Metals has announced plans to raise A$5.1-million to fund drilling at the Sandstone gold project, in Western Australia. The company on Monday said that the one-for-four accelerated pro-rata non-renounceable entitlement offer will be priced at 7c a share, representing a 6.67^... 

$550m deal signed at Northparkes

By: Esmarie Iannucci     Updated 5 hours ago The owners of the Northparkes gold/copper mine, in New South Wales, has inked a $550-milion streaming agreement with Triple Flag Mining Finance Bermuda, a subsidiary of Triple Flag Precious Metals Corp. Under the terms of the agreement, Triple Flag Bermuda would make an up-front cash payment of... 

Galaxy extends offtake contract

By: Esmarie Iannucci     Updated 5 hours ago Lithium miner Galaxy Resources has extended its existing offtake agreement with Yahua International Investment and Development Co by a further three years until the end of 2025. Yahua has an offtake for 120 000 t/y of high quality spodumene concentrate from Galaxy’s Mt Cattlin operation, in... 

Oil Search warns of impairments

By: Esmarie Iannucci     Updated 5 hours ago ASX-listed Oil Search has warned of a non-cash impairment charge of between $360-million to $400-million for its interim results in 2020. The company on Monday told shareholders that the impairment charge took into account the prevailing economic conditions, the outlook for oil and gas prices... 

More Victorian gas exploration targeted

By: Esmarie Iannucci     Updated 5 hours ago The Victorian government has awarded two new gas exploration permits off the state’s south-west coast, allowing Beach Energy and Bridgeport Energy to explore for gas. Minister for Resources Jaclyn Symes on Monday said that if initial exploration is successful, up to A$85-million could flow into... 

Platinum gets new lease in WA

By: Esmarie Iannucci     Updated 6 hours ago Research done at Curtin University has developed a new method to extract platinum metal from ore, delivering an economically viable processing method for the Panton Sill platinum group metal (PGM) deposit, in Western Australia. The state government through the Minerals Research Institute of... 

Platinum gets new lease in WA

Franco-Nevada eyes $1bn deals as base metals lag gold

By: Bloomberg     Updated 7 hours ago Franco-Nevada will do at least $500-million in streaming and royalty deals in mining this year, and a lot more if base-metal producers proceed with several larger financing deals in the $500-million to $1-billion range. That’s the view of the Toronto-based company’s chairman, David Harquail. In... 

SSR Mining and Alacer shareholders approve combination

By: Mariaan Webb     Updated 7 hours ago The shareholders of precious metals miners SSR Mining and Alacer Gold have approved their at-market merger, with only court approval still required for the transaction to close. On closing, each of Alacer’s shares will be exchanged for 0.3246 of an SSR common share. The transaction was approved... 

Workers at Antofagasta's Zaldivar copper mine in Chile vote to strike

By: Reuters     Updated 7 hours ago Workers at Antofagasta Minerals's Zaldivar copper mine in Chile have voted in favour of strike action after rejecting a pay offer, the mine's union said on Friday. The union said in a statement that 99% of its members had rejected a collective pay offer and a strike had been set for July 15,... 

Nornickel suffers another fuel leak

By: Mariaan Webb     Updated 7 hours ago Russian mining group Nornickel has suffered a fuel pipeline leak in the Arctic, a month-and-a-half after the company reported a major spill near the city of Norilsk. Nornickel said on Sunday that about 44.5 t of aviation fuel was spilled during the depressurisation of a pipeline belonging to... 

Nornickel suffers another fuel leak
Nornickel brings equipment to Norilsk to pump out water and fuel mixture to clean up the May 29 fuel spill. The company has reported another fuel spill at the weekend.

Ian McRae, who oversaw Eskom’s ‘electricity for all’ policy, dies 

12th July 2020 The much respected former CEO of Eskom, Ian McRae, died in the early hours of Sunday morning July 12, 2020. He was 90 years old. Born in Germiston on September 24, 1929, Ian Campbell McRae started his career as an apprentice fitter and turner at Eskom. After qualifying he went on to obtain a... 

Eskom CEO Andre de Ruyter pays tribute to Dr Ian McRae, who died on July 12.

Indonesia group seeks judicial review over new mining law

By: Reuters     10th July 2020 A group made up of activists and regional officials submitted on Friday a request for a judicial review of Indonesia's mining law at the Constitutional Court, arguing there had been a failure of procedures before the law was approved by parliament in May. The group, which includes the governor... 

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