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Africa News

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-,... 

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... 

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... 

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... 

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... 

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... 

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... 

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

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.... 

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.

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... 

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. 

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

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... 

Minerals Council expresses deep sadness at loss of 28 colleagues to Covid  

By: Martin Creamer     9th July 2020 Minerals Council South Africa health head Dr Thuthula Balfour on Thursday expressed deep sadness at the loss of 28 colleagues to Covid-19 and stated that research was being conducted to understand what makes people particularly vulnerable to the pandemic and what can be done to prevent the... 

Minerals Council expresses deep sadness at loss of 28 colleagues to Covid
Minerals Council South Africa’s Covid-19 update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Returning mineworkers, Covid-19 deaths, hydrogen roadmap make headlines  

9th July 2020 Mining Weekly Editor Martin Creamer unpacks foreign mineworkers returning to South Africa, platinum having the highest number of Covid-19 related deaths and government's hydrogen society roadmap.   

Returning mineworkers, Covid-19 deaths, hydrogen roadmap make headlines
Returning mineworkers, Covid-19 deaths, hydrogen roadmap make headlines

JSE says ETFs a haven for institutional investors

By: Simone Liedtke     9th July 2020 Professional and institutional investors wishing to gain exposure to different sectors, asset classes such as equities, commodities or government bonds are being encouraged by the JSE to use exchange-traded funds (ETFs).    

JSE says ETFs a haven for institutional investors

Shift from high- to low-carbon must be systematic and just – Mantashe 

By: Terence Creamer     9th July 2020 South Africa’s Mineral Resources and Energy Minister, Gwede Mantashe, used the platform created by the International Energy Agency (IEA) Clean Energy Transitions Summit on July 9 to stress that South Africa’s shift from a high-carbon to a low-carbon path needed to be both systematic and just.... 

Shift from high- to low-carbon must be systematic and just – Mantashe
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

New GM appointed for FQM’s Kansanshi mine

By: Tasneem Bulbulia     9th July 2020 Anthony Mukutuma has been appointed GM of dual-listed First Quantum Minerals’ multimillion-dollar Kansanshi mine, in the Solwezi District of North Western province.  He is the first Zambian to hold the post of GM at Kansanshi, which is the largest copper mine in Africa by production. 

Caledonia's Blanket mine records strong production

By: Tasneem Bulbulia     9th July 2020 Gold miner Caledonia Mining's Blanket mine, in Zimbabwe, produced about 13 499 oz of gold in the quarter ended June 30. This is an increase of about 6.2% on the 12 712 oz produced in the corresponding quarter of 2019. 

Record-high gold prices are in sight 

By: Bloomberg     9th July 2020 Gold prices could be set to take out their long-standing record as mounting concerns about the global economy fuel gains above $1 800/oz. Spot bullion extended its advance into a sixth day as the resurgence of the coronavirus in some parts of the world adds to concerns about a protracted global... 

Tharisa revises production guidance downward, despite strong recovery in May, June

By: Marleny Arnoldi     9th July 2020 Considering Covid-19 lockdown restrictions in the second quarter of the year, JSE-listed chrome and platinum group metals (PGMs) miner Tharisa has revised downward its production guidance for the year ending September 30. The company now expects to produce between 130 000 oz and 135 000 oz of... 

Clean energy should be at ‘core’ of Covid-19 stimulus plans – Guterres 

By: Terence Creamer     9th July 2020 United Nations secretary-general António Guterres appealed to governments on Thursday to place the transition from fossil fuels to clean energy at the “core” of their Covid-19 economic recovery spending. Guterres also used the platform created by the International Energy Agency (IEA) Clean Energy... 

Clean energy should be at ‘core’ of Covid-19 stimulus plans – Guterres
United Nations secretary-general António Guterres

Solidarity urges council, govt to settle out of court to avoid both unrest and delays

By: Marleny Arnoldi     9th July 2020 Trade union Solidarity has called on the Minerals Council South Africa and the Department of Mineral Resources and Energy (DMRE) to negotiate and reach an agreement out of court around ownership and the “once empowered, always empowered” principle. This follows after the High Court ruled that... 

Freeport is selling more copper than it thought in pandemic

By: Bloomberg     9th July 2020 The world’s biggest publicly traded copper company is navigating the pandemic better than it thought. Freeport-McMoRan expects to report about 8% more copper sales volume and 10% more gold in the second quarter than it forecast in April when it was first coming to grips with the implications of... 

Freeport is selling more copper than it thought in pandemic

South Africa’s July Ndlovu to chair World Coal Association 

By: Martin Creamer     9th July 2020 South Africa’s July Ndlovu has been appointed the chairperson of the World Coal Association (WCA), Mining Weekly can today report. Ndlovu, who heads Anglo American’s coal business in South Africa, takes up the position at a time when, in his words, “the role of responsible coal is front and... 

South Africa’s July Ndlovu to chair World Coal Association
Photo by World Coal Association
July Ndlovu and Michelle Manook.

Maintenance costs cut at Kayelekera

By: Esmarie Iannucci     9th July 2020 ASX-listed Lotus Resources has reduced the care-and-maintenance cost at its recently acquired Kayelekera uranium project, in Malawi, by some 75%, as the company advances certain restart activities. Lotus on Thursday told shareholders that care and maintenance costs for the mine have been reduced... 

Alphamin exceeds second-quarter production guidance 

By: Simone Liedtke     8th July 2020 JSE-listed tin concentrate producer Alphamin Resources’ tin production for the second quarter, ended June 30, increased by 29% quarter-on-quarter to 2 739 t. This exceeded the production guidance for the period. 

Gold’s rally to $1 800 sees ETF inflows exceed full-year record 

By: Bloomberg     8th July 2020 Gold’s allure is only getting stronger as 2020 unfolds. Spot prices reached $1 800/OZ and year-to-date inflows into bullion-backed exchange-traded funds have topped the record full-year total set in 2009. Investors have favored havens this year as the coronavirus pandemic rips through economies,... 

Germany to become major source of platinum demand for fuel cell EVs, says WPIC

By: Marleny Arnoldi     8th July 2020 As much of Europe prepares for a rapid green energy transition as part of the region's Covid-19 recovery strategy, Germany, in particular, could be the gamechanger that makes widespread adoption of fuel cell electric vehicles (FCEVs) in Europe a reality, says the World Platinum Investment Council... 

GoviEx to appeal termination of Chirundu mining licence

By: Tasneem Bulbulia     8th July 2020 Dual-listed GoviEx Uranium has received a letter from the Mining Cadastre Department of Zambia notifying the company that it had terminated the Chirundu mining licence.  Under the Zambian Mines and Minerals Development Act of 2015, GoviEx has been given 30 days to appeal this decision, which the... 

First 1 100 foreign mineworkers scheduled to cross back into South Africa 

By: Martin Creamer     8th July 2020 The first batch of 1 100 foreign mineworkers was scheduled to cross back into South Africa on Tuesday, Mining Weekly can report. This is part of a total of 12 500 gold and platinum workers returning from Mozambique, Lesotho and Eswatini, formerly Swaziland. 

First 1 100 foreign mineworkers scheduled to cross back into South Africa
Mineworkers being transported in response to Covid-19.

Getting it right: Kogi Iron

By: Creamer Media Reporter      8th July 2020 Mining Weekly incorrectly reported on July 7 that ASX-listed Kogi Iron had received a large investment from European funds management company Torridon Investments Research to develop its Agbaja cast steel project, in Nigeria. However, Torridon, which is a European funds manager with billions of... 

Resources Watch 

8th July 2020 This week: Covid kills 13 mineworkers, no foreigners back at work; Platinum group metals in pole position to benefit from global decarbonisation thrust; and, Intensive communication playing key role in curbing Covid at South Deep 

Resources Watch
Resources Watch

Kirkland Lake reports increased gold output

By: Esmarie Iannucci     8th July 2020 Triple listed Kirkland Lake Gold has reported a 54% increase in gold production for the second quarter of 2020, compared with the previous corresponding period. The ASX, TSX, and NYSE-listed company on Wednesday announced that gold production in the three months to June had reached 329 770 oz,... 

Kirkland Lake reports increased gold output
The Detour Lake mine.

Glencore copper mine in Congo says six workers have coronavirus

By: Reuters     8th July 2020 Six workers at Glencore's Kamoto Copper Company (KCC) mine in Democratic Republic of Congo's Lualaba province have tested positive for the coronavirus, KCC said on Tuesday. The copper and cobalt miner said none of the workers screened and tested presented symptoms of Covid-19, adding they are... 

Gold-backed ETFs record seventh consecutive month of positive flows, says WGC 

By: Simone Liedtke     7th July 2020 Gold-backed exchange-traded funds (ETFs) recorded their seventh consecutive month of positive flows, adding 104 t in June (equivalent to $5.6-billion or 2.7% of assets under management (AUM)) and taking global holdings to new all-time highs of over 3 621 t. This brings the total global net... 

Committee concerned about impact of new budget on electrification backlog target

By: Marleny Arnoldi     7th July 2020 While still in the process of reviewing the Department of Mineral Resources and Energy’s revised budget for the 2020/21 financial year, the Portfolio Committee on Mineral Resources and Energy has noted its revision to R7.8-billion, from R9.3-billion previously. The revised budget follows after... 

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