Au 1652.54 $/oz Change: 21.49
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Oil Search looks to raise A$1.1bn

By: Esmarie Iannucci     7th April 2020 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     7th April 2020 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... 

Gold Road targets A$26m exploration spend

By: Esmarie Iannucci     7th April 2020 Gold miner Gold Road Resources has set an exploration budget of A$26-million for the 2020 financial year, with the miner saying on Tuesday that it’s the majority of this work would be geared towards discoveries on the Yamarna belt, in Western Australia. Gold Road holds 4 500 km2 of land position... 

Golden Investment's stake in Stanmore jumps

By: Esmarie Iannucci     7th April 2020 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,... 

Pure's Tech hub proves economical

By: Esmarie Iannucci     7th April 2020 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... 

Marketing deal signed for New Elk coal

By: Esmarie Iannucci     7th April 2020 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... 

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By: Creamer Media Reporter      6th April 2020 Australian miner Newcrest has withdrawn from the option and earn-in agreement for the Rattlesnake Hills gold project, in Wyoming, US, TSX-V-listed GFG Resources has said.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... 

Dazzler resource increases by 50%

By: Esmarie Iannucci     7th April 2020 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... 

Blackstone signs share deal with EcoPro

By: Esmarie Iannucci     7th April 2020 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... 

Rio relocates 700 miners with 'specialist skills' to Western Australia

By: Esmarie Iannucci     6th April 2020 Mining major Rio Tinto has relocated more than 700 of its staff with "specialist skills" to Perth from interstate as the Western Australian government put in place a hard border. Premier Mark McGowan last week announced that while interstate fly-in, fly-out workers would be allowed into the... 

Rio relocates 700 miners with 'specialist skills' to Western Australia

Mopani transitions copper operations to care and maintenance 

By: Martin Creamer     Updated 2 hours 35 minutes ago Copper mining company Mopani Copper Mines plc said on Tuesday that it had placed its mining operations on care and maintenance and a number of projects on hold. The announcement, the company said, followed a number of meetings with Zambian government ministries to provide an update of its... 

Global Energy Metals to acquire majority stake in Nevada projects

By: Donna Slater     Updated 2 hours 38 minutes ago An ownership interest in the Nevada-based Lovelock and Treasure Box (LTB) battery minerals projects is in an accelerated phase for battery metals company Global Energy Metals Corporation (GEMC) as a result of the negotiation and entering into of an agreement with junior explorer Nevada Sunrise... 

Copperbelt miners turn to Tanzania as South African lockdown hobbles ports

By: Reuters     Updated 2 hours 43 minutes ago South Africa's strict coronavirus lockdown has caused miners to divert copper from the country's ports to others in Africa, with Dar es Salaam the clear winner, sources told Reuters. Authorities in South Africa initially said ports would only process essential goods during a three-week nationwide... 

Kore Mining's California project can produce 146 000 oz/y

By: Marleny Arnoldi     Updated 2 hours 45 minutes ago North America-based Kore Mining has published a positive preliminary economic assessment with compelling project economics for the Imperial Oxide gold deposit, in California. The assessment determines a net present value (NPV) for the project of $343-million, with a 44% internal rate of return... 

Kogi Iron sees ongoing interest in Nigeria-based cast steel project

By: Simone Liedtke     Updated 3 hours ago ASX-listed Kogi Iron is seeing ongoing interest from potential new investors in its Agbaja cast steel project, in Nigeria, where Kogi is starting to see global capital flows to the commodity sector. Owing to the rapid escalation and global impacts of the coronavirus, or Covid-19, Kogi and KCM... 

Kogi Iron sees ongoing interest in Nigeria-based cast steel project
A location map of Kogi Iron's Nigerian cast steel project.

Covid-19 could unite mining industry around innovative funding – Moshe Capital

By: Marleny Arnoldi     Updated 3 hours ago Commodity prices and investment in South African mining will undoubtedly be impacted on by measures taken to curb the spread of coronavirus and the anticipated economic fallout, says advisory firm Moshe Capital founder and CEO Mametja Moshe. South African mining operations, except for essential... 

De Beers contributes $2.5m Covid-19 funding to Botswana, Namibia  

By: Martin Creamer     Updated 4 hours ago Diamond mining and marketing corporation, the De Beers Group, on Tuesday announced that it would contribute $2 500 000 across Botswana and Namibia to aid the response to the Covid-19 crisis. De Beers Group is a 50/50 joint venture partner with both Botswana and Namibia in the recovery and sorting... 

De Beers contributes $2.5m Covid-19 funding to Botswana, Namibia
De Beers Group CEO Bruce Cleaver

Gold Fields promoting widespread human welfare during lockdown 

By: Martin Creamer     Updated 4 hours ago Gold mining company Gold Fields, which has placed its South Deep gold mine in Gauteng on care and maintenance for the 21-day lockdown period, is promoting human welfare funding cross a number of fronts during the Covid-19 crisis. Firstly, South Deep, the Westonaria mine with a 70-year life, will... 

Gold Fields promoting widespread human welfare during lockdown
Photo by Creamer Media
Gold Fields executive VP Martin Preece

Zambia says Glencore declares 'force majeure' to shut copper mines, will block move

By: Reuters     Updated 5 hours ago Zambia said on Tuesday that Glencore has declared "force majeure" and will shut its copper mines in the country, adding that the government would block the move which would result in 11 000 people losing their jobs. Mines Minister Richard Musukwa said Glencore plans to put its Mopani Copper... 

The state of Chinese commodities shows recovery taking hold

By: Bloomberg     Updated 5 hours ago From oil to copper to coal, China’s gigantic commodities industry is signaling that the first economy to be flattened by the coronavirus is getting closer to a return to normality. Bloomberg Economics estimates that most of China was 90% to 95% back to work at the end of last week, noting... 

Kodal warns shareholders of limited work on Bougouni this year

By: Marleny Arnoldi     Updated 6 hours ago As travel restrictions are impacting on Aim-listed Kodal Minerals’ ability to conduct or partake in necessary meetings, the company has advised that it cannot say when its financial and Ministerial review meeting will take place, nor the overall mining licence application process. The company... 

Edenville introduces business continuity programme amid Covid-19

By: Simone Liedtke     Updated 6 hours ago Aim-listed Edenville Energy has introduced a business continuity programme to protect its staff, while ensuring the continued and safe operation of the company, in response to the Covid-19 pandemic. The move has resulted in all nonessential travel being cancelled since early March, and all... 

Cora continues development at Sanankoro project

By: Marleny Arnoldi     Updated 6 hours ago Aim-listed Cora Gold CEO Bert Monro has published a letter to shareholders on its plans for the rest of the year, which will for the most part focus on taking the Sanankoro project, in Mali’s Yanfolila gold belt, into development. The company is planning further metallurgical testwork... 

Kazatomprom slashes 2020 uranium guidance

By: Creamer Media Reporter      Updated 7 hours ago Kazakhstan’s uranium major, Kazatomprom, on Tuesday announced that its uranium production volumes would decrease by about 4000 t, owing to measures imposed to combat Covid-19. The previous guidance for 2020 was 22 750 t to 22 800 t, on a 100% basis. The reduced production level should not... 

BlueRock increases Q1 diamond sales, uncertain of Covid-19 impact

By: Natasha Odendaal     7th April 2020 Aim-listed listed diamond producer BlueRock Diamonds’ good performance during the first quarter of 2020 has been overshadowed by the ongoing Covid-19 pandemic which has halted operations. The group, which owns and operates the Kareevlei diamond mine, in Kimberley, sold 3 267 ct during the first... 

Covid-19 preventing shareholders from attending Anglo AGM

By: Martin Creamer     7th April 2020 Shareholders will not be permitted to attend this year’s annual general meeting (AGM) of Anglo American because of Covid-19 restrictions – but they have been invited to submit questions in advance for answering at the AGM. The London- and Johannesburg-listed diversified mining company said in a... 

Anglo Asian uses chartered flight to send gold to Switzerland

By: Marleny Arnoldi     7th April 2020 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     7th April 2020 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     7th April 2020 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. 

Standard Bank notes SARB’s hold-back guidance on dividends, bonuses

By: Martin Creamer     7th April 2020 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 – foundation

By: Marleny Arnoldi     7th April 2020 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... 

Marathon presents study results of ‘Atlantic Canada’s largest gold producer’

By: Creamer Media Reporter      7th April 2020 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      7th April 2020 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     7th April 2020 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... 

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-makers in South African industry and mining. Creamer Media has invited companies and public relations... 

Keep calm and carry on (communicating)

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... 

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... 

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... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

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