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Asia News

Glencore to host webcast ahead of closed AGM

By: Marleny Arnoldi     7th May 2020 Diversified miner Glencore has announced that its annual general meeting (AGM) will be held on June 2. However, owing to Covid-19 restrictions, it will be a closed meeting and shareholders will not be able to physically attend.  

While Barrick scans new horizons its strength is at home 

By: Mariaan Webb     7th May 2020 Mining major Barrick Gold is building its future around its existing big operations. But the five-million-ounce-a-year Canadian miner, which is already on the ground in all the world's major gold destinations other than Russia and East Europe, is also looking to new horizons. 

While Barrick scans new horizons its strength is at home
Barrick Gold CEO Mark Bristow

Harmony to raise $200m as rand gold price nears all-time high 

By: Martin Creamer     6th May 2020 Gold mining company Harmony Gold intends raising $200-million equity capital to fund the first tranche payment of its acquisition of the remaining South African assets of AngloGold Ashanti. Harmony FD Boipelo Lekubo said in response to Mining Weekly during a conference call on Wednesday that the... 

Harmony to raise $200m as rand gold price nears all-time high
Photo by Creamer Media's Donna Slater
Harmony Gold FD Boipelo Lekubo

Barrick trims 2020 guidance over PNG dispute, earnings jump 

By: Mariaan Webb     6th May 2020 Gold major Barrick has withdrawn its full-year guidance for the Porgera mine after it placed the operation on care-and-maintenance late last month, amid a dispute with the Papua New Guinea government over the renewal of a 20-year special mining lease. The decision means that the... 

Barrick trims 2020 guidance over PNG dispute, earnings jump
Photo by Porgera JV
The Porgera mine in Papua New Guinea is owned a joint venture between Canada's Barrick Gold and China's Zijin Mining.

Barrick’s Bristow receives massive vote of confidence 

By: Martin Creamer     6th May 2020 Barrick Gold Corporation on Wednesday announced that the nominees listed in the information circular for the 2020 annual meeting of shareholders were elected as directors of Barrick. Detailed results of the vote for the director’s election shows that Dr Mark Bristow, who has still to reach his... 

Barrick’s Bristow receives massive vote of confidence
Photo by Blomberg
Mark Bristow

Steel production likely to stagnate or decline this year, says Roskill 

By: Simone Liedtke     5th May 2020 Steel production in developed economies is likely to either stagnate, or decline completely, as the Covid-19 pandemic continues to influence and impact on the global economy, consultancy Roskill steel alloys principal consultant Erik Sardain said on May 5. Speaking in a webinar, he explained... 

Steel production likely to stagnate or decline this year, says Roskill
Roskill steel alloys principal consultant Erik Sardain discusses the impact of Covid-19 on the global steel industry. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

Top coal miner seeks loans as lockdown saps payments

By: Bloomberg     5th May 2020 Bharat Coking Coal, a unit of Coal India, the world’s largest producer, is planning a debt-raising to meet expenses, after payment curtailments by power generators led to a cash-squeeze, according to people familiar with development. The company, based in eastern Indian state of Jharkhand, is in... 

Central banks continue to buy gold as safe haven asset

By: Marleny Arnoldi     5th May 2020 The World Gold Council (WGC) says central banks have continued to be net purchasers of gold in March, adding 46 t to global reserves. However, central banks added 4% less gold to reserves compared with March last year.  

Ontario refinery aims to disrupt existing cobalt supply chain

By: Mariaan Webb     5th May 2020 TSX-V-listed First Cobalt has announced positive feasibility study results for its cobalt refinery expansion project, in Canada, marking a key milestone in its efforts to disrupt the existing cobalt supply chain. The study shows strong asset-level economics that position the refinery to be... 

Ontario refinery aims to disrupt existing cobalt supply chain

Neometals launches downstream study in India

By: Esmarie Iannucci     5th May 2020 ASX-listed Neometals has partnered with Indian company Manikaran Power to conduct a feasibility study (FS) evaluating a lithium hydroxide refinery in India. The FS would be based on a nominal capacity of 20 000 t/y of lithium hydroxide. 

Sulphide project at Simberi under review

By: Esmarie Iannucci     5th May 2020 Gold miner St Barbara will undertake a feasibility study (FS) into a sulphide project at its Simberi operation, in Papua New Guinea, after a prefeasibility study (PFS) proved positive. The PFS, which was completed in March this year, built on a 2016 PFS, and showed that the sulphide project... 

Amplats ramps up stricken smelter, force majeure to be lifted 

By: Martin Creamer     5th May 2020 The repair of the stricken Anglo Converter Plant (ACP) Phase B unit has been safely and successfully completed ahead of schedule, Anglo American Platinum (Amplats) said on Monday. Amplats' chain of processing facilities, as well as the ACP Phase B unit that was meant to replace it, was... 

Amplats ramps up stricken smelter, force majeure to be lifted
Photo by Amplats
A general view of the Anglo Converter Plant.

Young Diamantaires platform launched

By: Marleny Arnoldi     4th May 2020 The World Federation of Diamond Bourses (WFDB) has launched its Young Diamantaires website at www.ydts.org. The website has been built by WFDB members for use by the members, and the federation plans on expanding its functionality.  

Weekly Coal Index Report

4th May 2020 Financial coal markets enjoyed a relatively stronger week as some price consolidation occurred on API#4 around the $52.70 level. However, the physical discount also narrowed leading to slightly weaker RB1 prices, even as major mining houses such as Anglo and Glencore announced significant... 

Weekly Coal Index Report

Bushveld enhances liquidity, implements detailed Covid programme 

By: Martin Creamer     4th May 2020 Vanadium producer Bushveld Minerals, which on Monday provided an operational update on Bushveld Vanadium and Bushveld Energy for the three months to March 31, is implementing a detailed programme in response to the Covid-19 pandemic and drawing down its full R375-million of bank debt facilities... 

Bushveld enhances liquidity, implements detailed Covid programme
Photo by Creamer Media
Fortune Mojapelo

Big miners battle with limiting climate change - TPI

By: Esmarie Iannucci     4th May 2020 Only two of the world’s ten largest mining companies are aligned with limiting climate change to 2°C, new research by assessor The Transition Pathway Initiative (TPI) has found. Miners Freeport and Grupo Mexico have been identified as the two largest mining companies that had such low emissions... 

Big miners battle with limiting climate change - TPI

AVZ welcomes new Chinese shareholder

By: Esmarie Iannucci     4th May 2020 Lithium developer AVZ Minerals will raise A$10.6-milliion through a share placement to China’s Yibin Tianyi Lithium Industry, which will take a 9% stake in the Australian firm. Under the placement agreement, Yibin Tianyi will subscribe for 237.5-million shares in AVZ, priced at 4.5c each. While... 

Lynas restarts Malaysian plant

By: Esmarie Iannucci     4th May 2020 Rare earths miner Lynas on Monday restarted operations in Malaysia, after the government announced that nearly all economic sectors, including manufacturing, would be allowed to resume operations, as measures to prevent the spread of Covid-19 is relaxed. The company told shareholders that the... 

TerraCom moves to exit Mongolia

By: Esmarie Iannucci     4th May 2020 ASX-listed TerraCom has moved ahead with its plans to exit Mongolia, inking a binding term sheet to divest of its Baruun Noyon Uul (BNU) coal mine for $2. Under the terms of the agreement, Singapore-based buyer Bridge Resources will also accept a net $15-million of existing liabilities within... 

Gold bars fight Covid-19 kits for space on the plane

By: Bloomberg     4th May 2020 Swiss refiner Valcambi tried for five straight days last month to move a shipment of gold out of Hong Kong. Twice the metal was packed carefully onto a plane, only to be offloaded again. After daily attempts and numerous arguments, the gold suddenly arrived in Switzerland without warning, said... 

Mopani Copper Mines restarting operations for 90 days

By: Martin Creamer     3rd May 2020 Glencore-managed Mopani Copper Mines confirmed on Sunday that constructive discussions had taken place with the Zambian government and that mining operations would be restarted and a notice issued of the company’s intention to place the mining operations on care and maintenance after 90 days.... 

Mopani Copper Mines restarting operations for 90 days
Mopani Copper Mines shaft complex.

Lynas gets restart date in Malaysia

By: Esmarie Iannucci     1st May 2020 Rare earths miner Lynas is expected to resume operations at its Advanced Materials Plant, in Malaysia, by May 4. The company on Friday said that all economic sectors, including manufacturing, mining and services would be allowed to resume from the beginning of next week. 

Covid-positive Impala Canada employee dies

By: Martin Creamer     30th April 2020 An employee of Impala Canada has died after testing Covid-19 positive, Implats said on Thursday. Twenty five employees tested positive at Impala Canada’s Lac des Iles operation, resulting in the mine being closed and placed on care and maintenance. 

Covid-positive Impala Canada employee dies
An ore pile at Impala Canada.

Glencore well positioned to navigate Covid challenges – Glasenberg 

By: Martin Creamer     30th April 2020 Diversified mining and marketing company Glencore is well positioned to navigate the current challenges presented by the Covid-19 pandemic, Glencore CEO Ivan Glasenberg said on Thursday, when the London- and Johannesburg-listed company reported first-quarter production and provided a general... 

Glencore well positioned to navigate Covid challenges – Glasenberg
Photo by Blooomberg
Ivan Glasenberg

Unplanned interruptions likely to be regular feature – Implats 

By: Martin Creamer     30th April 2020 Unplanned interruptions are likely to be a regular feature of the remaining months of the 2020 financial year, Implats CEO Nico Muller said on Thursday, when his platinum group metals mining and refining company presented production results for the three months to March 31. The impact of the... 

Unplanned interruptions likely to be regular feature – Implats
Nico Muller

Robust iron-ore price to erode as steelmakers shut furnaces

By: Reuters     30th April 2020 The price of iron-ore is set to drift lower in coming months as the coronavirus pandemic eats away at demand, moderating its outperformance against other industrial commodities this year. Iron ore has given up about 10% so far this year compared to 40% for the Refinitiv/CoreCommodity CRB index... 

Robust iron-ore price to erode as steelmakers shut furnaces

Vale receives non-binding offers for New Caledonia assets

By: Reuters     30th April 2020 Brazilian iron-ore miner Vale has received non-binding offers for its nickel mining operations on the Pacific island of New Caledonia, an executive said in a call with analysts on Wednesday. On the call, Vale base metals chief Mark Travers said the company received the offers in late February.... 

Gold still has important role to play, despite Covid-19, says World Gold Council

By: Simone Liedtke     30th April 2020 Global gold holdings is said to have held firm at 1 083.8 t in the first quarter of the year, marking a rise of 1% on the same period last year, according to the World Gold Council’s (WGC's) latest Gold Demand Trends report. The global Covid-19 pandemic fueled the safe-haven investment demand for... 

Gold still has important role to play, despite Covid-19, says World Gold Council

De Beers makes Covid donation to help women in host communities

By: Martin Creamer     29th April 2020 Diamond mining and marketing company on Wednesday announced a $200 000 donation across its four producer partner countries of Botswana, Canada, Namibia and South Africa to assist women’s shelters and support organisations to respond to an increase in gender-based violence resulting from Covid-19.... 

De Beers makes Covid donation to help women in host communities
De Beers Group CEO Bruce Cleaver

Silver production severely damaged by lockdown measures

By: Mariaan Webb     29th April 2020 Lockdown measures to contain the spread of Covid-19 are impacting on a wide range of commodities, with silver production currently the most severely damaged by mine shutdowns. Data and analytics company GlobalData reports that, as of April 27, the equivalent of 65.8% of yearly global silver... 

Silver production severely damaged by lockdown measures

RBM makes R1.5m Covid food, water pledge

By: Martin Creamer     29th April 2020 KwaZulu-Natal minerals sands mining and beneficiation company Richards Bay Minerals has committed R1.5-million towards meeting mine community food, water and health needs during the Covid-19 crisis.  RBM, which Rio Tinto manages as a 74% shareholder, produces predominantly rutile, zircon, titania... 

RBM makes R1.5m Covid food, water pledge
RBM MD Werner Duvenhage (right) and uMhlathuze Mayor Mduduzi Mhlongo in elbow shake.

Orion agrees top-level pay cuts, reduces employee numbers 

By: Martin Creamer     29th April 2020 A revised interim remuneration structure had been agreed with all directors and executives of Orion Minerals, the Sydney- and Johannesburg-listed company said on Wednesday. Included would be the reduced remuneration of MD and CEO Errol Smart, effective from May 1. 

Orion agrees top-level pay cuts, reduces employee numbers
Photo by Creamer Media
Errol Smart

Village Main Reef postpones potential job cuts until lockdown ends

By: Reuters     29th April 2020 South African gold miner Village Main Reef, which planned a turnaround of its operations that could lead to job cuts, said on Wednesday it had agreed to postpone the retrenchment process until after the nationwide coronavirus lockdown. The unlisted miner, controlled by China-based parent company... 

Zijin warns PNG of China anger over end of Barrick gold mine lease

By: Reuters     29th April 2020 China's Zijin Mining has warned Papua New Guinea that its failure to renew the lease of a gold mine it jointly owns with Barrick Gold Corp there could damage bilateral relations. Papua New Guinea on Friday said it would not renew a 20-year mining lease at its Porgera gold mine, citing... 

Lynas plant in Malaysia remains closed

By: Esmarie Iannucci     29th April 2020 The Malaysian government has extended its Movement Control Order until May 12, meaning rare earths miner Lynas’ operations in the country would remain suspended. Operations at the Advanced Materials Plant was suspended in March as part of the country’s wider effort to halt the spread of the... 

Caterpillar earnings dive as coronavirus wreaks economic havoc

By: Reuters     28th April 2020 Caterpillar on Tuesday reported a steeper-than-expected decline in first-quarter earnings, with sales falling across all regions and all primary business segments as the coronavirus pandemic devastated economies around the world. The Deerfield, Illinois-based heavy equipment manufacturer,... 

Caterpillar earnings dive as coronavirus wreaks economic havoc

Morale high as Covid-masked South African miners get back to work 

By: Martin Creamer     28th April 2020 Morale is reportedly high as Covid-masked and physically distanced South African mineworkers get back to mining underground for companies that have gone the extra mile to ensure that they have been fully remunerated and host communities generously funded during the national lockdown. In a... 

Morale high as Covid-masked South African miners get back to work
Mineworkers with personal protective equipment.

Lucapa to raise about $5.25m

By: Tasneem Bulbulia     28th April 2020 ASX-listed Lucapa Diamond Company plans to undertake a nonrenounceable rights issue on a 1 for 5 basis with a free attaching options exercisable at $0.10 each and expiring two years from the date of issue. If fully subscribed, the intended rights issue will raise up to $5.25-million. 

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