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Australasia News

Barrick welcomes court decision over Papua New Guinea gold mine

By: Reuters     1st May 2020 Barrick Gold said on Friday it welcomed a court ruling ordering the Papua New Guinea (PNG) government to negotiate over a lease extension for the Porgera gold mine. Prime Minister James Marape recently said that the country would not grant the mine a 20-year operating extension due to... 

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. 

Lucapa restarts work at Lulo

By: Esmarie Iannucci     1st May 2020 Diamond miner Lucapa has restarted operations at its Lulo diamdond mine, in Angola. Operations at Lulo were reduced in early April to only essential services after a State of Emergency was declared in Angola in order to contain the spread of the Covid-19 pandemic. 

Woodside predicts two year low oil price

By: Esmarie Iannucci     1st May 2020 Oil and gas major Woodside has warned shareholders that the low oil price environment could persist for the next two years. Speaking during the company’s annual general meeting, CEO Peter Coleman noted that the oil and gas industry had been confronted not only by the challenges presented by the... 

Woodside predicts two year low oil price

Sandfire buys Namibian exploration tenements

By: Esmarie Iannucci     1st May 2020 Junior Kopore Metals has inked a binding agreement with a subsidiary of fellow listed Sandfire Resources to divest of its Namibian exploration assets. Sandfire, through its subsidiary Metal Capital Exploration, would purchase 100% of the issued capital in Trans Kalahari Copper Namibia, which... 

Oil Search raises A$80m in entitlement offer

By: Esmarie Iannucci     1st May 2020 Oil and gas major Oil Search has completed the retail component of it’s A$400-million entitlement offer, raising an initial A$80-million. Oil Search last month announced plans for a A$1.1-billion raising, consisting of underwritten institutional placement to raise an initial A$760-million, and... 

Australian Potash raises funds for Lake Wells

By: Esmarie Iannucci     1st May 2020 ASX-listed Australian Potash has raised an initial A$2-million through a share placement, and was hoping to raise a further A$3.15-million though a pro rata renounceable rights issue. The company placed an initial 40-million shares, at a price of 5c each to sophisticated and professional... 

Newcrest completes billion dollar placement

By: Esmarie Iannucci     1st May 2020 Gold miner Newcrest Mining has successfully completed a A$1-billion fully underwritten institutional placement, with some 39.1-million shares placed at a price of A$25.6 a share. Newcrest earlier this week announced plans for the raising, along with a A$100-million share purchase plan (SPP), to... 

Alacer maintains full year outlook

By: Esmarie Iannucci     1st May 2020 Dual listed gold miner Alacer Gold has maintained its production outlook for the 2020 financial year, reporting a strong first quarter in the three months to March. The ASX- and TSX-listed company produced 87 863 oz of gold during the three months under review, down slightly from the 89 354 oz... 

Competition Tribunal approves Harmony-AngloGold transaction  

By: Martin Creamer     30th April 2020 The Competition Tribunal has unconditionally approved Harmony Gold’s acquisition of Mponeng gold mine, other assets and other related liabilities from AngloGold Ashanti. The purchase price includes $200-million in cash, plus a deferred payment of up to $100-million. As Mining Weekly has reported,... 

Competition Tribunal approves Harmony-AngloGold transaction
Mponeng Gold Mine.

Paladin to release restart plan for Namibia uranium mine in the fourth quarter

By: Simone Liedtke     30th April 2020 The restart plan and guidance on key economic parameters for Australian-listed uranium company Paladin Energy’s Langer Heinrich uranium operation, in Namibia, are expected to be released during the fourth quarter of the year. Care and maintenance (C&M) activities at the mine continued during the... 

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.

Resgen continues engagement on mine funding package for Boikarabelo mine

By: Simone Liedtke     30th April 2020 Emerging ASX- and JSE-listed energy company Resource Generation (Resgen) is securing the required regulatory approvals and translating the Mine Funding Package arrangement into a further amendment to the facility agreement for its Boikarabelo coal mine, in South Africa. Boikarabelo's resources... 

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

Danakali going ahead with East Africa project’s development

By: Simone Liedtke     30th April 2020 ASX-listed Danakali is proceeding with Phase 2 of the engineering, procurement, construction and management (EPCM) at its Colluli potash project, in Eritrea. The Colluli project is 100% owned by the Colluli Mining Share Company (CMSC), a joint venture between Danakali and the Eritrean National... 

Panoramic cuts costs

By: Esmarie Iannucci     30th April 2020 ASX-listed Panoramic Resources has moved to temporarily reduce corporate costs in order to preserve cash. The company in April temporarily suspended operations at its Savannah nickel project, in Western Australia, amid the Covid-19 pandemic, which adversely impacted transportation, the... 

Ramelius cuts costs at Tampia, pushes back start date

By: Esmarie Iannucci     30th April 2020 Gold miner Ramelius Resources has identified a A$24-million capital cost savings for its Tampia gold project, in Western Australia, on the back of a simplified processing solution, but has pushed back the project’s start date from mid-2020 to the start of the 2021 calendar year. The miner on... 

Another permit granted at Cinovec

By: Esmarie Iannucci     30th April 2020 The Czech Ministry of the Environment has granted a preliminary mining permit for the northwestern part of the Cinovec deposit, ASX-listed European Metals said. The permit, which has been issued for a period of eight years, is a necessary legal prequalification before obtaining a final mining... 

Argentina's Kachi lithium project to cost $544m

By: Esmarie Iannucci     30th April 2020 A prefeasibility study (PFS) into the Kachi lithium brine project, in Argentina, has found that the project could support an annual production of 25 500 t/y of battery grade lithium carbonate over a mine life of 25 years. ASX-listed Lake Resources on Thursday said that the PFS estimated a... 

Rhyolite Ridge DFS puts it on the map - ioneer

By: Esmarie Iannucci     30th April 2020 The Rhyolite Ridge lithium/boron project, in Nevada, would require a capital investment of some $785-million, a definitive feasibility study (DFS) has found. ASX-listed ioneer on Thursday told shareholders that the DFS placed Rhyolite Ridge as the single most attractive project for the... 

Macmahon tipped as contractor at Coburn

By: Esmarie Iannucci     30th April 2020 ASX-listed Strandline Resources has tipped contractor Macmahon as the preferred contractor for its Coburn mineral sands project, in Western Australia. The two companies have inked an early contractor involvement agreement for early works associated with the contract mining services, and will now... 

Iluka trims zircon forecast

By: Esmarie Iannucci     30th April 2020 Mineral sands miner Iluka Resources has announced plans to cut its zircon production by as much as 110 000 t for the 2020 financial year, on the back of the Covid-19 pandemic. The miner told shareholders that the Chinese ceramic industry went into total lockdown during February and was shut... 

Fortescue ups output expectations

By: Esmarie Iannucci     30th April 2020 Iron-ore major Fortescue metals has reported record third quarter iron-ore shipments, with tonnage up by 10% on the previous corresponding period, reaching 42.3-million tonnes. In the year-to-date, iron-ore shipments reached a record 130.9-million tonnes. C1 costs for the quarter under review... 

Newcrest raises major cash for financing buy  

By: Esmarie Iannucci     30th April 2020 Gold miner Newcrest Mining is undertaking a fully underwritten institutional placement with the aim of raising A$1-billion, along with a share purchase plan (SPP) to raise a further A$100-million. The funds will be used to purchase the Fruta del Norte financing facilities, for $450-million and... 

Newcrest raises major cash for financing buy
Newcrest MD and CEO Sandeep Biswas

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

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.

Highfield finds buyer for Muga salt

By: Esmarie Iannucci     29th April 2020 Potash developer Highfield Resources has inked a non-binding memorandum of understanding (MoU) with salt distribution company Maxisalt-Paradira Premium for up to 500 000 t/y of salt from the Muga potash mine, in Spain. The MoU covered 400 000 t/y of vacuum salt, a higher value product, and 100... 

Miner subsidies minimal - govt

By: Esmarie Iannucci     29th April 2020 The Minerals Council of Australia (MCA) on Wednesday noted that the Productivity Commission’s latest Trade and Assistance Review 2018-19 repudiated the claim that Australian mining is subsidised. The report states that tariff and budgetary assistance to mining is ‘disproportionately small’, with... 

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

Pensana gets mining permit in Angola

By: Esmarie Iannucci     29th April 2020 The Angolan government has approved a mining title for ASX-listed Pensana Rare Earth’s Longonjo project. The mining title allows Pensana to mine for rare earths, and is renewable up to 35 years, covering an area of 21 km2. 

Tigers Realm firmly on track for 2020

By: Esmarie Iannucci     29th April 2020 Coal miner Tigers Realm Coal has maintained its production guidance for the 2020 financial year of 550 000 t, as its operations in Russia remained unaffected by impacts from the Covid-19 pandemic. Run of mine production for the three months to March reached 137 000 t, down from the 288 000 t... 

Stanmore urges offer acceptance

By: Esmarie Iannucci     29th April 2020 The directors of takeover target Stanmore Coal have urged shareholders to accept a takeover offer from shareholder Golden Investment. Golden Investment is offering Stanmore shareholders A$1 a share in cash for all of their shares held, and since launching its offer in April, the company’s... 

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... 

Universal posts strong quarter amid takeover

By: Esmarie Iannucci     29th April 2020 South Africa-focused coal miner Universal Coal has reported an 11% increase in run-of-mine (ROM) production for the March quarter, and a 16% increase is sales volumes, compared with the previous corresponding period. The miner on Wednesday reported that quarterly ROM production reached... 

Allegiance nearly halves New Elk startup capex

By: Esmarie Iannucci     29th April 2020 Coal developer Allegiance Coal has once again reduced the projected start-up capital for its New Elk coal mine, in Colorado. The ASX-listed miner on Wednesday said that a review of the mine plan by independent engineers Stantec has reduced the start-up capital estimate from $40-million to... 

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