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Excitement as Sumitomo becomes AP Ventures’ latest hydrogen economy investor 

By: Martin Creamer     27th October 2020 Leading Fortune 500 global trading and business investment company Sumitomo Corporation, which has a strong focus on the hydrogen economy, has become the latest investor in partnership with venture capital company AP Ventures Fund II. Sumitomo joins cornerstone investors such as South Africa’s... 

Excitement as Sumitomo becomes AP Ventures’ latest hydrogen economy investor
Photo by Creamer Media
Andrew Hinkly

Hopes rise as top firms arrive at potential flow-through share model to stimulate mining exploration  

By: Martin Creamer     27th October 2020 A flow-through share model has been drawn up with the help of top firms to stimulate badly neglected mining exploration in South Africa, Minerals Council South Africa junior and emerging miners leadership forum chairperson Errol Smart said on Tuesday. Speaking to Mining Weekly in a Zoom... 

Minerals Council South Africa Junior Miners’ Forum Chairperson Errol Smart interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

DRDGold’s output rises 45% q/q 

By: Tasneem Bulbulia     27th October 2020 Dual-listed DRDGold reported a 45% quarter-on-quarter increase in gold production to 48 676 oz (1 514 kg) for the quarter ended September 30, owing primarily to a 27% increase in tonnage throughput to 7.26-million tonnes and a 15% increase in yield to 0.209 g/t. Gold sold increased by 60% to 48... 

DRDGold’s output rises 45% q/q

Toolbox of measures needed to arrest slippage of domestic chrome competitiveness

By: Donna Slater     27th October 2020 The Minerals Council South Africa says a comprehensive “toolbox” of measures is needed to improve the competitiveness of the entire chrome value chain, which has been impacted by a number of challenges. These challenges include nearly 40% of South Africa’s ferrochrome production having either... 

Tribunal approves IRL's buyout of Mapochs mine, with conditions

By: Marleny Arnoldi     27th October 2020 The Competition Tribunal has approved a transaction whereby natural resources investor International Resources Limited (IRL) South Africa will acquire the openpit Mapochs mine, in Mpumalanga. The mine supplied ore for the production of steel and vanadium before steel producer Evraz Highveld... 

Petra cautiously optimistic about improved diamond prices

By: Tasneem Bulbulia     27th October 2020 Diamond miner Petra Diamonds continued to perform well during the three months to September 30, with record carat production at the Cullinan mine in South Africa during August and September, an “excellent achievement” given the Covid-19 mitigation measures, which now form part of the group’s... 

More than 4 000 register for 600 job opportunities at NMP’s Sandpiper project

By: Simone Liedtke     27th October 2020 Project developer Namibian Marine Phosphate’s (NMP’s) job registration drive has received an “overwhelming response”, with more than 4 000 registrations recorded within the first two weeks. Speaking to media on October 27, CEO Chris Jordinson said the sheer number of registrations was likely... 

Paladin cuts Namibian spend

By: Esmarie Iannucci     27th October 2020 Uranium hopeful Paladin Energy on Tuesday announced that capital expenditure (capex) at its Langer Heinrich mine, in Namibia, is expected to reach $9.5-million in 2021. The planned capex for the 2021 financial year was down by 44% on the funds spent in the 2020 financial year, as Paladin moved to... 

Barrick continues to perform well in Mali, despite various hurdles

By: Simone Liedtke     27th October 2020 Dual-listed Barrick Gold’s Loulo-Gounkoto complex remains on track to meet the upper end of its 2020 guidance in the face of multiple challenges, including that of a military coup in Mali, the gold major confirmed on October 27. Barrick president and CE Mark Bristow attributed this performance... 

Stalemate reached in Cardinal tussle

By: Esmarie Iannucci     27th October 2020 Chinese suitor Shandong Gold Mining will only increase its offer price for ASX- and TSX-listed Cardinal Resources to A$1.05 a share, up from its current A$1 a share offer, if a higher competing offer was launched for the junior gold developer. Shandong this week announced that it would extend... 

Kodal making strides in Mali, Côte d’Ivoire

By: Tasneem Bulbulia     27th October 2020 Mineral exploration and development company Kodal Minerals says it is making progress with its mining licence application for the Bougouni lithium project, in southern Mali, as well as with regard to a memorandum of understanding (MoU) entered into with Sinohydro and its gold exploration... 

IronRidge records high-grade drilling results at Zaranou

By: Tasneem Bulbulia     27th October 2020 Aim-listed IronRidge Resources has recorded final high-grade drilling results from the second phase drilling programme at the Ebilassokro and Ehuasso targets, both within the Zaranou gold project area in Côte d'Ivoire Final high-grade reverse circulation (RC) and aircore (AC) drilling results... 

Golden Rim adds to Kouri ounces

By: Esmarie Iannucci     27th October 2020 Gold explorer Golden Rim resources has reported a 43% increase in the Kouri mineral resource estimate, in Burkina Faso. The project is now estimated to host an indicated and inferred mineral resource of 50-million tonnes, grading 1.3 g/t gold for an estimated two-million ounces of contained... 

Trump lifts tariffs on Canadian aluminum, warns he may resume them

By: Reuters     Updated 4 hours ago US President Donald Trump issued a proclamation on Tuesday formally removing tariffs on raw aluminum imports from Canada but threatening to reinstate them if there was a surge in imports of the metal across the northern US border. The proclamation follows an agreement with Canada announced last... 

Zijin officially opens Buriticá

By: Creamer Media Reporter      Updated 7 hours ago Chinese miner Zijin Mining has formally opened the Buriticá underground gold mine, in Colombia. The company acquired the mine following the acquisition of Continental Gold in March 2020. 

Critical copper negotiations point to a tight market

By: Bloomberg     27th October 2020 As Freeport McMoRan hammers out next year’s benchmark deal for the copper industry, the coronavirus has complicated negotiations but also given the miner an edge. Gone is an ice-breaking reception for key customers that Freeport’s Javier Targhetta hosted for more than two decades during London... 

Critical copper negotiations point to a tight market

Glencore provides backing for Falco's Horne project

By: Mariaan Webb     27th October 2020 TSX-V-listed Falco Resources on Tuesday announced an agreement with Glencore Canada, whereby the commodities trader and miner will provide a $10-million bridge financing to fund continued project operations at the Horne 5 VMS deposit, in Quebec. The companies also entered into life-of-mine... 

Glencore provides backing for Falco's Horne project

Caterpillar earnings dive as economy woes deter equipment purchases

By: Reuters     27th October 2020 Caterpillar on Tuesday reported lower quarterly earnings as equipment sales fell across all of its three primary segments, reflecting a slow and uneven recovery in global economic activity from coronavirus lockdowns. The heavy equipment maker reported a third-quarter profit of $1.22 per share,... 

Anglo Asian to start work at Vejnaly once secure

By: Mariaan Webb     27th October 2020 London-listed Anglo Asian said on Tuesday that it planned to start work at the Vejnaly project, located in the Zangilan district of Azerbaijan, as soon as it is safe to do so. The Azerbaijani army last week liberated the Zangilan district from Armenia, ending the 27-year occupation of the... 

Anglo Asian to start work at Vejnaly once secure

Teck receives inquiries from Chinese customers

By: Mariaan Webb     27th October 2020 Canadian miner Teck Resources has received several inquiries from Chinese contract and spot customers about the availability of prompt cargoes for delivery in the fourth quarter, on the back of a reported ban by China of Australian metallurgical coal imports. The heightened Chinese restrictions... 

Teck receives inquiries from Chinese customers
The shiploader for the Neptune Bulk Terminal arrives on site.

FYI completes HPA trial

By: Esmarie Iannucci     27th October 2020 ASX-listed junior FYI Resources has completed a high purity alumina (HPA) production trial at its pilot plant in Western Australia. The objective of the trial was to produce stipulated end production specially tailored to the requirements of targeted potential customers and to incorporate several... 

Cornish Lithium appoints CFO

By: Creamer Media Reporter      27th October 2020 Mineral explorer Cornish Lithium has appointed Varshan Gokool, who most recently was president and CEO of Euromax Resources, as CFO. At Euromax, Varshan was pivotal in leading the Ilovica-Shtuka copper/gold project in North Macedonia from inferred resource to definitive feasibility study,... 

Teck Resources profit misses estimates as prices of steelmaking coal tumble

By: Reuters     27th October 2020 Canada's Teck Resources missed analysts' estimates for quarterly profit on Tuesday, hurt by a steep drop in the prices of steelmaking coal, sending it US-listed shares down 8.2% in pre-market trade. Miners globally have been struggling after the Covid-19 pandemic wreaked havoc on commodity... 

Teck Resources profit misses estimates as prices of steelmaking coal tumble

Hudbay resumes mining after 777 skip hoist incident

By: Mariaan Webb     27th October 2020 Underground mining activity has resumed at the 777 mine, in Flin Flon, Manitoba, and production should be back at full tilt in December, base metals miner Hudbay Minerals reported on Monday. Operations at the copper/zinc/gold/silver mine were halted earlier this month, after a skip fell to the... 

Hudbay resumes mining after 777 skip hoist incident

Donlin continues to exceed modelled grade-thickness

By: Mariaan Webb     27th October 2020 Joint venture (JV) partners Barrick Gold and NovaGold have completed its 85-hole drilling campaign at Donlin Gold, advancing the Alaska gold project up the value chain. Assay results for the first 25 holes, representing 30% of the 23 400 m drilled, have been received. NovaGold CEO Greg Lang... 

Donlin continues to exceed modelled grade-thickness

Taseko mulls minority sale in Florence project

By: Mariaan Webb     27th October 2020 While discussions with potential lenders and finance providers for the development of the Florence copper project remain ongoing, Canadian base metals miner Taseko is also exploring the sale of a minority interest in project to help develop the commercial operation. The company, which on Monday... 

Taseko mulls minority sale in Florence project

Cash raised for East Menzies exploration

By: Esmarie Iannucci     27th October 2020 ASX-listed Resources & Energy Group has raised A$3.3-million to fund exploration at its East Menzies gold field tenements in Western Australia. The company on Tuesday said that it would issue 44-million shares to professional investors, priced at 7.5c each, along with one attaching option for... 

Australia mulling gas reservation policy

By: Esmarie Iannucci     27th October 2020 The federal government is considering a prospective national gas reservation scheme as part of its plan to make energy affordable for families and businesses and to support jobs as part of Australia’s recovery from the Covid-19 recession. A gas reservation issues paper has been released for... 

Australia mulling gas reservation policy

Todd River raises funds for new nickel project

By: Esmarie Iannucci     27th October 2020 Junior Todd River Resources has exercised its option over the Nanutarra nickel project, in Western Australia, and has completed a A$4-million capital raise. The company on Tuesday reported the issue of 805 366 shares to Cratonix with the exercise of the option over Nanaturra.  

Decision soon on platinum process that can save a Medupi power station worth of power  

By: Martin Creamer     26th October 2020 The definitive feasibility study for the installation of a revolutionary new electricity-slashing processing plant at Pilanesberg Platinum Mine in the North West will be completed next month in time for an investment decision from the shareholders in KellTechnology South Africa, which are... 

Kelltech’s Keith Liddell interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Minerals Council advocates for constructive, peaceful engagement following community leader's murder

By: Donna Slater     26th October 2020 The Minerals Council South Africa, “shocked” to hear of the murder of mining community leader Fikile Ntshangase, extends its “deepest condolences” to her family and colleagues. She was shot at her home in Northern KwaZulu-Natal on the night of October 22.  

Megado Gold to list on ASX, start drilling in two weeks

By: Donna Slater     26th October 2020 Ethiopia-focused gold explorer Megado Gold will, on October 27, list on the ASX for the first time with 71.5-million ordinary shares on issue, following a strongly supported and oversubscribed A$6-million initial public offering (IPO). Megado’s push into Ethiopia coincides with that country's... 

Megado Gold to list on ASX, start drilling in two weeks
A bridge under construction near Megado's project in Ethiopia

SRK Consulting highlights Northern Cape mining potential following Joburg Indaba

By: Simone Liedtke     26th October 2020 The Northern Cape’s potential gained considerable mention at the recent Joburg Indaba mining conference as the prospects of South Africa’s minerals sector start to brighten. “It was encouraging to hear a similar message from major mining companies and juniors alike – that there is still... 

SRK Consulting highlights Northern Cape mining potential following Joburg Indaba
SRK Consulting principal mining engineer Joseph Mainama

Deal with Li Ka-shing gives Canadian oil giant a Biden hedge

By: Bloomberg     26th October 2020 Cenovus Energy  is getting more than just a rival Canadian oil producer with its acquisition of Husky Energy Inc. It’s also shoring up its defenses against an anti-oil sands movement that could get a boost if Joe Biden is elected as the next president of the U.S. Calgary-based Cenovus said Sunday... 

Danakali, AFC in talks as equity funding conditions unlikely to be met by Nov 21

By: Donna Slater     26th October 2020 Although ASX- and LSE-listed potash producer Danakali has been working in “good faith” to satisfy the conditions precedent for the Africa Finance Corporation’s (AFC’s) second tranche equity funding of $28.5-million, the company’s board now considers it unlikely that the conditions precedent will... 

Peabody appoints Yeates COO

By: Creamer Media Reporter      26th October 2020 Coal producer Peabody has announced that Darren Yeates will become COO on November 1. Yeates has been a member of Peabody's board of directors since February 2020 and will remain on the board as a nonindependent director.  

Top copper nation says it can save glaciers without nixing mines

By: Bloomberg     26th October 2020 Chile’s government seeks to strike a balance between protecting glaciers and appeasing investors in the top copper producer -- even as the political opposition pushes a law that could constrain mining in such environmentally fragile areas. “We are in favor of protecting the environment including... 

Top copper nation says it can save glaciers without nixing mines

Nornickel to consider 9-month dividend, looks to limit payments

By: Reuters     26th October 2020 Russia's Norilsk Nickel should keep its dividend payments for 2020 to a mininum level, co-owner and top shareholder Vladimir Potanin told Reuters. Potanin's Interros holding, aluminium producer Rusal and some other stakeholders have an agreement on dividend payouts which suggests that Nornickel... 

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Hopes rise as top firms arrive at potential flow-through share model to stimulate mining exploration

Decision soon on platinum process that can save a Medupi power station worth of power

‘Great opportunity’ to tap Mpumalanga’s grid capacity for just transition – IPP Office

On-The-Air (23/10/2020)

Gold Fields, export tax, coal mine disposal make headlines

Experience from other health crises shaped mining industry’s rapid pandemic response

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