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Australasia News

Kogi appoints Nigerian contractor to start trial iron-ore mining

By: Marleny Arnoldi     8th May 2020 ASX-listed Kogi Iron and its Nigerian subsidiary KCM Mining have started small-scale trial mining at the Agbaja Cast Steel project, in Nigeria. The companies have appointed a local Lokoja-based civil engineering contractor to start the trial mining on a 30 m by 30 m by 5 m deep pit, owing to... 

Great Southern raises cash for exploration

By: Esmarie Iannucci     8th May 2020 Junior Great Southern Mining will raise A$3.1-million through a share placement to fund an accelerated exploration programme at its Cox’s Find gold project, in Western Australia. The company on Friday said that it will place 70-million fully paid ordinary shares at a price of 4.5c each, along... 

Appea report calls for investor certainty

By: Esmarie Iannucci     8th May 2020 A new report undertaken by advisory firm Wood Mackenzie (WoodMac) on behalf of the Australian Petroleum Production and Exploration Association (Appea) has found that Australia’s upstream oil and gas industry needs long-term regulatory stability to create attractive investment opportunities for... 

Appea report calls for investor certainty

Newcrest prices $1.15bn worth of senior notes

By: Esmarie Iannucci     8th May 2020 Gold miner Newcrest Mining has priced $1.15-billion worth of senior secured notes to institutional buyers in the US. The miner on Friday said that $650-million of the notes will have a ten-year maturity rate, maturing in May 2030, with a fixed rate coupon of 3.25% a year, while a further... 

Mining industry faces a new reality amid and beyond Covid-19

By: Marleny Arnoldi     8th May 2020 The global mining industry is facing a new reality amid the Covid-19 pandemic, with measures to curb the spread of the virus impacting on economies, mining operations and their supply chains, manufacturing industries, the general public and, consequently, the demand for minerals and metals. As... 

Mining industry faces a new reality amid and beyond Covid-19

Rio Tinto dodges climate reporting fire, but issue unlikely to go away

By: Reuters     7th May 2020 Rio Tinto shareholders in Australia voted on Thursday against forcing the miner to set targets for the emissions of its steel-making customers, but the issue is unlikely to go away as more than a third supported the motion. Investors have been pushing for corporate giants to cut back their... 

Rio Tinto dodges climate reporting fire, but issue unlikely to go away

ArcelorMittal sees signs of virus low point as lockdowns ease

By: Bloomberg     7th May 2020 ArcelorMittal withdrew its closely watched global steel guidance because of the coronavirus pandemic, but sounded a relatively upbeat tone as lockdown restrictions start to ease. While ArcelorMittal likened the suddenness of the virus impact to the global financial crisis, it looked forward to... 

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.  

Australian mineral exports climb despite pandemic

By: Esmarie Iannucci     7th May 2020 The latest data by the Australian Bureau of Statistics (ABS) has shown the resilience of some of Australia’s key resource exports, as the Covid-19 pandemic continues. The ABS on Thursday reported that metal ore and mineral exports increased by 32% in March, or some A$2.8-billion, while other... 

Australian mineral exports climb despite pandemic

Kirkland Lake begins recalling workers but expects Covid-19 impact for rest of year

By: Donna Slater     7th May 2020 Dual-listed Kirkland Lake has begun recalling its workers who were off as part of its Covid-19 protocols at the Detour Lake and Macassa mines, in Canada’s Ontario, while the Holt Complex remains suspended with no timeline being contemplated for reopening. The company transitioned the Detour Lake... 

Kirkland Lake begins recalling workers but expects Covid-19 impact for rest of year
The Macassa mine in Canada.

St George raises funds for Mt Alexander

By: Esmarie Iannucci     7th May 2020 Junior St George Mining will raise some A$3.6-million under a private placement to support ongoing exploration work at its Mt Alexander nickel/copper sulphide project, in Western Australia. The company has received commitments for the placement of more than 45.2-million shares, at a price of 8c... 

Elementos positions Spanish tin project

By: Esmarie Iannucci     7th May 2020 An economic study into the Oropesa tin project, in Spain, has found that the project could produce some 2 440 t/y of tin metal over a mine life of 14 years. The study was based on the development of an opencut mine, processing plant, tailings storage facility and infrastructure to support a 750... 

Apollo sells Ivorian interests

By: Esmarie Iannucci     7th May 2020 Gold explorer Apollo Consolidated has struck an agreement with Ibaera Capital Fund to divest of its 20% interest in the Bagoe and Liberty projects, in Cote d’Ivoire, for A$4.5-million. The sales agreement was subject to fellow-listed Exore resoures not exercising its pre-emptive rights under the... 

Harmony Gold targeting Covid test facilities on own mine premises 

By: Martin Creamer     7th May 2020 Gold mining company Harmony Gold is targeting the establishment of coronavirus testing facilities at its own premises to speed up the current two-day turnaround time. “As an industry, we’ve put together a process to get more test facilities on our own premises. At the moment we do it through... 

Harmony Gold targeting Covid test facilities on own mine premises
Photo by Creamer Media's Donna Slater
Peter Steenkamp

Greenvale weighs diversification at Alpha

By: Esmarie Iannucci     7th May 2020 ASX-listed Greenvale Energy on Thursday told shareholders that it will undertake an alternative exploration programme at its Alpha oil shale deposit, in Queensland, with the aim of diversifying production from the asset. Greenvale said a preliminary review of opencut mining and processing... 

Alt gets takeover offer from Aurenne

By: Esmarie Iannucci     7th May 2020 Junior Alt Resources has received a takeover offer from privately held Aurenne Group Holdings, which was offering Alt shareholders 5.05c in cash for each of their shares held. The offer is subject to a number of conditions, including a minimum 90% acceptance condition. 

BHP makes new board appointments

By: Esmarie Iannucci     7th May 2020 Diversified major BHP has appointed Dion Weisler and Xiaoqun Clever to its board as independent non-executive directors. Weisler’s appointment will be effective from June 1, while Clever’s will become effective from October 1. 

Ramelius takes 90% stake in Spectrum

By: Esmarie Iannucci     7th May 2020 Gold miner Ramelius Resources has reached a 90% shareholding in takeover target Spectrum Metals, with the miner now moving to the compulsory acquisition of all the remaining shares in Spectrum. Ramelius earlier this year launched its takeover offer for Spectrum Metals, offering that company’s... 

WA moves mining services online

By: Esmarie Iannucci     7th May 2020 The Western Australian government has unveiled new procedures to support the resources sector during the Covid-19 pandemic, with a key focus of transitioning to online services. Mines and Petroleum Minister Bill Johnston said that the resulting changes and new or revised guidelines would ensure... 

WA moves mining services online

Cause of explosion unclear - Anglo American

By: Esmarie Iannucci     7th May 2020 Mining major Anglo American on Thursday said that the cause of the explosion which rocked its Grosvenor mine, in Queensland, on Wednesday, and injured five, has not yet been established. “Our focus right now is on supporting our injured colleagues and their families, and our team is doing... 

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.

Harmony Gold’s operational free cash more than doubles to R3bn 

By: Martin Creamer     6th May 2020 The operating free cash flow margin of gold mining company Harmony Gold more than doubled in the nine months to March 31 to 13% from 6% in the corresponding period last year. This was due largely to a 21.6% increase in the average rand gold price received for the period to R704 965/kg, the... 

Harmony Gold’s operational free cash more than doubles to R3bn
Photo by Creamer Media's Donna Slater
Peter Steenkamp

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

Geoscientists doing well despite pandemic - AIG

By: Esmarie Iannucci     6th May 2020 While employment figures for Australian geoscientists deteriorated in the first three months of 2020, the results have not been as severe as previously feared, the Australian Institute of Geoscientists (AIG) said on Wednesday. Unemployment increased to 10% in the March quarter, compared with... 

Five injured in Anglo American coal mine explosion

By: Esmarie Iannucci     6th May 2020 Five people have been injured in an explosion at diversified miner Anglo American’s Grosvenor coal mine, in Queensland, the miner confirmed on Wednesday. The miner said in a statement to Mining Weekly Online that the mine was in the process of being evacuated and operations have been stopped,... 

Explorers concerned about future - Amec

By: Esmarie Iannucci     6th May 2020 The Association of Mining and Exploration Companies (Amec) has expressed concern for the future of the Australian exploration industry, and the impact that Covid-19 will have. “While the health, safety and wellbeing of Australians must remain the focus through Covid-19, mineral exploration... 

Dacian completes A$98m raising

By: Esmarie Iannucci     6th May 2020 Gold miner Dacian Gold has completed the retail component of its entitlement offer raising a total of A$28-million and taking its total capital raise to some A$98-million. Dacian in April raised an initial A$70-million through the institutional component of its one-for-one accelerated... 

Consolidated hopes for exemption in Mexico

By: Esmarie Iannucci     6th May 2020 ASX-listed Consolidated Zinc has applied to be exempted from the Mexican government’s decision to suspend all non-essential services until the end of May, in zones where Covid-19 cases have been identified. The miner on Wednesday said that the Aldama zone, where its process plant and the... 

Canadian gold proves up for Matador

By: Esmarie Iannucci     6th May 2020 A scoping study into the Cape Ray gold project, in Canada, has found that the project could produce some 504 000 oz of gold over a seven-year mine life. ASX-listed Matador Mining on Wednesday told shareholders that the scoping study estimated an initial capital cost of $102-million to... 

BHP hits halfway mark with Covid fund

By: Esmarie Iannucci     6th May 2020 Mining major BHP on Wednesday announced that some A$25-million of the A$50-million set aside for its Vital Resources Fund since it was established in late March has over the past six weeks been committed to organisations and programmes across Australia in the areas of health, education and... 

Qld moves to cushion explorers

By: Esmarie Iannucci     6th May 2020 The Queensland government has announced a multimillion-dollar stimulus package to support the survival and revival of Queensland’s explorers to maintain the state’s pipeline of resources projects and jobs. The package will include a 12-month waiver of rent on exploration land due between April... 

Qld moves to cushion explorers

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.

Resgen enters into debt deal to fund rail link for Boikarabelo

By: Donna Slater     5th May 2020 JSE-listed energy resources company Resource Generation (Resgen) reports that its subsidiary, Ledjadja Coal has entered into nonbinding equity and debt term sheets with Pan African Infrastructure Development Fund 2 SA (PAIDF2SA) and Pan African Infrastructure Development Fund 2 limited liability... 

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.  

MC Mining restarts, ‘no work, no pay’ for nonessential staff  

By: Martin Creamer     5th May 2020 The mechanised Uitkomst underground colliery has restarted, with ramp up to 50% capacity expected in seven to ten days, London-, Sydney- and Johannesburg-listed MC Mining said on Tuesday. The lockdown’s impact on activities at the corporate office had led to the implementation of business... 

MC Mining restarts, ‘no work, no pay’ for nonessential staff
Brenda Berlin

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. 

Manas restarts African exploration

By: Esmarie Iannucci     5th May 2020 Explorer Manas Resources will resume its exploration activities in Cote D’Ivoire as the country eases restrictions around the Covid-19 pandemic. The ASX-listed Manas suspended field activities in late March in light of the ongoing pandemic, but on Tuesday said that it had continued to engage... 

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