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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

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 1 hour 38 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 globally – Responsible Mining Foundation

By: Marleny Arnoldi     Updated 2 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... 

Minister finds Covid-19 compliant mines but also laggards 

By: Martin Creamer     6th April 2020 As calls go out for mining to resume on April 17 or face serious setback, Mineral Resources and Energy Minister Gwede Mantashe has found excellent Covid-19 compliance by some coal mines that have been allowed to stay open to supply coal to Eskom – but inadequate response to directives by others.... 

Minister finds Covid-19 compliant mines but also laggards
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

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... 

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... 

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... 

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)

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... 

Eurasian Resources execs take 30% pay cut in support of Covid-19 measures

By: Marleny Arnoldi     6th April 2020 Global diversified miner Eurasian Resources Group (ERG) CEO Benedikt Sobotka and first deputy CEO Aldiyar Kaztayev have offered to take a 30% cut in their salaries for 12 months, owing to the unprecedented challenges that the world is facing as a result of Covid-19. The company is confident... 

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... 

Strandline arranges debt for Fungoni

By: Esmarie Iannucci     6th April 2020 Mineral sands developer Strandline Resources has signed a $26-million project finance facility agreement financier Nedbank CIB for its Fungoni project, in Tanzania. The facility will account for the majority of Fungoni’s $35-million capital cost, Strandline said on Monday. 

Resolute increases output in March quarter

By: Esmarie Iannucci     6th April 2020 Africa-focused gold miner Resolute Mining poured 110 763 oz of gold during the three months to March, a 5 470 oz increase on the December quarter. The ASX-listed miner on Monday reported that gold recoveries for the March quarter was up by 15% on the previous quarter, to 119 683 oz. 

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... 

Blackstone signs share deal with EcoPro

By: Esmarie Iannucci     Updated 8 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 10 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,... 

Covid-19 preventing shareholders from attending Anglo AGM

By: Martin Creamer     Updated 29 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. 

Anglo Asian uses chartered flight to send gold to Switzerland

By: Marleny Arnoldi     Updated 45 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 46 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... 

Buffalo Coal appoints CEO, CFO

By: Simone Liedtke     Updated 50 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. 

Marketing deal signed for New Elk coal

By: Esmarie Iannucci     Updated 2 hours 22 minutes 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 2 hours 29 minutes 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 2 hours 30 minutes 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 2 hours 42 minutes 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 2 hours 48 minutes 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 2 hours 57 minutes 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 3 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 4 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... 

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

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... 

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

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... 

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