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Australasia News

Northern Minerals finds funding as Baogang deal slips

By: Esmarie Iannucci     20th April 2020 ASX-listed Northern Minerals has raised A$22-million through a subscription agreement with various investors, after the federal Treasurer prohibited an earlier raising. Northern Minerals on Monday said that the Australian government would be prohibiting a A$20-million share placement to China’s... 

More gold promised at Theta

By: Esmarie Iannucci     20th April 2020 An optimised mine schedule for the Theta openpit starter project, in South Africa, has added 40 000 oz of gold, ASX-listed Theta Gold Mines said on Monday. The optimised mine schedule reflects an increase in the production rate from 500 000 t/y to 600 000 t/y, and includes mining of several old... 

Amplats paying employees in full, 30% of top pay to Covid-19 relief

By: Martin Creamer     20th April 2020 New Anglo American Platinum (Amplats) CEO Natascha Viljoen said on Monday that “thankfully” the company was able to pay all of its employees their full fixed basic salaries, pension and medical benefits, as well as housing allowances where applicable, for the full 35 days of the Covid-19 lockdown... 

Amplats paying employees in full, 30% of top pay to Covid-19 relief
Photo by Amplats
Anglo American Platinum (Amplats) CEO Natascha Viljoen

Rio implements more tests for Pilbara workers

By: Esmarie Iannucci     20th April 2020 Major Rio Tinto has introduced additional measures to contain the spread of Covid-19 to its Western Australian operations, starting rapid screening trials at the Perth Airport and at its nearby Operations Center. The new screening will form part of an enhanced five-layer screening process... 

BHP establishes contractor fund in Chile

By: Esmarie Iannucci     20th April 2020 Diversified miner BHP has established a $25-million fund to aid contractors in Chile after the miner was forced to progressively reduce the number of contractors at its operations amid the Covid-19 pandemic. The miner has limited the number of employees in its operations from 7 310 to 4 910 and... 

South32 cuts costs, reports solid quarter

By: Esmarie Iannucci     20th April 2020 Triple-listed diversified miner South32 has suspended the remaining $121-million of its current on-market share buy-back programme and has lowered its sustaining capital expenditure (capex) guidance for the 2020 financial year to $500-million as the miner moved to conserve cash amid the outbreak... 

South32 cuts costs, reports solid quarter
SOUTH32 CEO GRAHAM KERR

Nervous bankers leave the gold market stuck in disconnect

By: , Bloomberg     17th April 2020 Gold has rarely been a hotter trade, but the world’s two most important markets remain out of sync. In New York, the price of gold topped $1 750 for the first time in seven years on April 9. In London, it still hasn’t caught up. The dislocation first blew out in late March, when disruptions from... 

Nervous bankers leave the gold market stuck in disconnect

Impala CE granted bail after appearance on Covid-19 charge 

By: Martin Creamer     17th April 2020 The arrest of the chief executive of Implats' Implala Platinum Rustenburg mining operations was on Friday welcomed by the Mineral Resources and Energy Parliamentary chairperson Sahlulele Luzipo, who on Thursday called on law enforcement agencies to act decisively against mining executives who... 

Impala CE granted bail after appearance on Covid-19 charge
Photo by Creamer Media
Impala Platinum Rustenburg CE Mark Munroe

Jubilee operations restart under strict Covid-19 protocols 

By: Martin Creamer     17th April 2020 Metals processing company Jubilee Metals announced on Friday that its South African operations had recommenced and it was strictly adhering to the updated lockdown regulations set out to combat the Covid-19 pandemic. Jubilee retreats mine tailings, waste, slag, slurry and other secondary... 

Karlawinda reserves increase

By: Esmarie Iannucci     17th April 2020 Junior Capricorn Metals has reported a 35% increase to the ore reserve at its Karlawinda gold project, in Western Australia. The project’s ore reserve has now increased from 892 000 oz to more than 1.2-million ounces, while the mineral resource has increased by 41%, from 2.14-million ounces to... 

LNG revenues poised to fall - EnergyQuest

By: Esmarie Iannucci     17th April 2020 New data from energy advisory firm EnergyQuest has revealed that the value of Australian liquefied natural gas (LNG) exports could fall by as much as A$20-billion over the next year. In its March research report, EnergyQuest CEO Dr Graham Bethune noted that while Australia’s LNG export revenues... 

Lance cleared for low pH extraction

By: Esmarie Iannucci     17th April 2020 ASX-listed Peninsula Energy has been granted final approval from the Wyoming Department of Environmental Quality to use low pH recovery method within the Ross permit area, at its Lance uranium project. Peninsula on Friday said that switching from an alkaline in-situ recovery to a low pH in-situ... 

Enlarged Fort Cady a winner for ABR

By: Esmarie Iannucci     17th April 2020 An enhanced definitive feasibility study (DFS) into the Fort Cady borate mine, in Southern California, has established an increased production capacity, ASX-listed American Pacific Borates (ABR) said on Friday. The initial DFS, completed in late 2018, was modified in 2019 to include a low... 

A$10bn Surat gas project gets green light

By: Esmarie Iannucci     17th April 2020 Energy major Shell has taken a final investment decision to develop the first phase of integrated coal seam gas (CSG) company Arrow Energy’s A$10-billion Surat gas project, in Queensland. The company said on Friday that the decision would bring up to 90-billion cubic feet per year of new gas to... 

Salt Lake to raise A$20m for Lake Way

By: Esmarie Iannucci     17th April 2020 Potash developer Salt Lake Potash has received binding commitments to raise A$20-million through a share placement to new and existing institutional investors. The company on Friday announced that it would issue 58.8-million shares at a price of 34c each, to raise the cash, enabling Salt Lake to... 

Rio cuts capex and copper expectations

By: Esmarie Iannucci     17th April 2020 Diversified major Rio Tinto on Friday announced that it will cut its capital expenditure by some $2-billion in the wake of the Covid-19 pandemic, while also lowering its copper production guidance for the full year. The miner told shareholders that capital expenditure for the full year would be... 

Rio cuts capex and copper expectations
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastian Jacques

Sandfire posts solid March quarter

By: Esmarie Iannucci     17th April 2020 Copper/gold miner Sandfire Resources has reported a solid quarter of production during the three months to March, but has withdrawn its full year production guidance amid the Covid-19 pandemic. The miner on Friday reported that copper production for the March quarter reached 17 936 t, down... 

Minerals Council welcomes revised Covid-19 regulations

By: Martin Creamer     16th April 2020 The Minerals Council South Africa on Thursday welcomed the amendments to the Disaster Management Act regulations as they pertain to mining. These regulations allow a phase-up in mining capacity to 50% during the lockdown period, but with all the preventative and mitigating controls in place to... 

Minerals Council welcomes revised Covid-19 regulations
Minerals Council CEO Roger Baxter

Mining may resume at 50% capacity – Minister 

By: Martin Creamer     16th April 2020 All mining operations, excluding collieries supplying Eskom which have been permitted to operate at full capacity throughout national lockdown, may now resume at 50% capacity during the remaining lockdown days, Mineral Resources and Energy Minister Gwede Mantashe said on Thursday. Thereafter,... 

Mining may resume at 50% capacity – Minister
Photo by Veronica Creamer
Mineral Resources Minister Gwede Matashe during virtual media conference.

Gold giant Newmont says metal could top $2 000 on virus stimulus

By: , Bloomberg     16th April 2020 Gold could top $2 000 an ounce and will remain elevated over the next five years as the global economy contends with the impact of the coronavirus pandemic, according to the head of Newmont, the world’s top miner of the precious metal. “The level of stimulus globally that’s going into the... 

Gold giant Newmont says metal could top $2 000 on virus stimulus
Newmont CEO Tom Palmer

Jupiter given approval for partial restart of manganese mine 

By: Martin Creamer     16th April 2020 Approval to restart operations partially at the Tshipi Borwa manganese mine has been granted to Tshipi é Ntle Manganese Mining by the Department of Mineral Resources and Energy, ASX-listed Jupiter Mines has announced. Tshipi Borwa mine is an opencast manganese mine in the Kalahari manganese field... 

Jupiter given approval for partial restart of manganese mine
Tshipi working with Transnet to coordinate exports.

Resolute finds more oxide ore at Syama

By: Esmarie Iannucci     16th April 2020 Gold miner Resolute Mining has identified new oxide mineralisation at satellite deposits at its Syama gold mine, in Mali. The company on Thursday said that exploration at Syama North had demonstrated potential for a return to oxide mining at areas near the previously mined Beta and BA01... 

Alto denies counter offer from new shareholder

By: Esmarie Iannucci     16th April 2020 Takeover target Alto Metals on Thursday confirmed that it was in talks with privately held Adaman Resources around the potential divestment of its Sandstone project, but denied that it had received a competing takeover offer from the company. Alto was responding to reports that it had received... 

Lucapa cuts costs and looks at restarting ops

By: Esmarie Iannucci     16th April 2020 Diamond miner Lucapa on Thursday said that it was reviewing various funding scenarios and financing restructuring possibilities amid the global pandemic. A care-and-maintenance and security programme is being implemented at its Mothae operation, in Lesotho, after the South African government... 

Force majeure forces Core Gold's hand in Ecuador

By: Esmarie Iannucci     16th April 2020 ASX-listed Titan Minerals has announced that its 91%-held subsidiary Core Gold would indefinitely suspend all of its production operations and commercial activities in Ecuador, owing to a force majeure resulting from the Covid-19 pandemic. The Canadian gold miner in March temporarily suspended... 

Atrum's Canada project scoping proves a winner

By: Esmarie Iannucci     16th April 2020 A scoping study into the Elan hard coking coal project, in Alberta Canada, has demonstrated the project’s economics for ASX-listed Atrum Coal. The scoping study considered to development options for the Elan project, namely a 10-million tonne a year run-of-mine (ROM) production and a... 

Whitehaven taking no expansion decisions in 2020

By: Esmarie Iannucci     16th April 2020 Coal miner Whitehaven Coal on Thursday said that it would not be making a final investment decision on any of its growth projects, including the A$700-million Vickery extension project, during 2020. The miner told shareholders that studies continued to be carried out at its three main... 

Whitehaven taking no expansion decisions in 2020

Santos to sell a stake in Barossa

By: Esmarie Iannucci     16th April 2020 Oil and gas major Santo has inked a letter of intent (LOI) to divest of a 12.5% interest in its Barossa project, in Northern Australia to project partner JERA. The Barossa gas field sits within Santos’ Northern Australia portfolio, one of the company’s core long-life, natural gas asset regions.... 

Lower prices cut into Woodside profits

By: Esmarie Iannucci     16th April 2020 Lower realised prices and impacts related to the Covid-19 pandemic has seen oil and gas major Woodside report a significant fall in revenue during the three months to March. While production was up by 12% on the previous corresponding period, to 24.2-million barrels of oil equivalent, revenue... 

BHP faces water use lawsuit brought by Chilean state

By: Reuters     15th April 2020 A Chilean environmental court said on Tuesday it would investigate a complaint brought by the government against global miner BHP over allegations of damage to the northern Punta Negra salt flat. The First Environmental Court, based in the northern Chilean city of Antofagasta, said the... 

AngloGold restarts surface operations on limited basis  

By: Martin Creamer     15th April 2020 The surface operations of gold mining company AngloGold Ashanti have restarted on a limited basis following the granting of recommencement permission by South Africa’s Department of Mineral Resources and Energy. The company said in a media release on Wednesday that the restart involved the... 

AngloGold restarts surface operations on limited basis
Photo by Bloomberg
AngloGold CEO Kelvin Dushnisky

Newmont sets up $20m Covid-19 support fund

By: Martin Creamer     15th April 2020 Gold mining company Newmont has established a $20-million community support fund to help host communities, governments and employees combat the Covid-19 pandemic. The New York- and Toronto-listed company, with operations in North America, South America and Australia and Africa, is partnering with... 

Newmont sets up $20m Covid-19 support fund
Photo by Bloomberg
Newmont CEO Tom Palmer

Mine shutdowns hang over market even as some look to restart

By: , Bloomberg     15th April 2020 A number of miners, including some giants of the industry, have been forced to halt or curtail production and processing as governments worldwide implement measures to stem the spread of the coronavirus. Unprecedented disruptions to operations and supply chains have thrown the outlook for... 

Harmony Gold, NUM agree on May 2 return date 

By: Martin Creamer     15th April 2020 The National Union of Mineworkers (NUM) and gold mining company Harmony have to May 2 as the return-to work date following South Africa’s Covid-19 lockdown. This agreement followed a meeting at Harmony’s offices in Randfontein on Tuesday, NUM general secretary David Kolekile Sipunzi said in a... 

Harmony Gold, NUM agree on May 2 return date
David Kolekile Sipunzi

Blackstone exercises option in Vietnam

By: Esmarie Iannucci     15th April 2020 Junior Blackstone Minerals has exercised its option to acquire a 90% interest in the Ta Khoa nickel/platinum group metals project, in Northern Vietnam. The company in May last year inked an option agreement with owner AMR Nickel to acquire a 90% stake in the project, and under that agreement,... 

Medusa restarts Co-O

By: Esmarie Iannucci     15th April 2020 ASX-listed Medusa Mining has resumed operations at the Co-O gold mine, in the Philippines. Operations were temporarily suspended last week after the province in which the Co-O mine is located was placed under Enhanced Community Quarantine following an Executive Order issued by the Provincial... 

Glencore extends graduate programme in Aus

By: Esmarie Iannucci     15th April 2020 The Queensland Resources Council (QRC) has welcomed a decision by diversified miner Glencore to extend its 2021 Graduate Development Programme, providing graduate opportunities in regional Australia. With a focus on local talent from regional communities, the company’s Graduate Development... 

Advantage shareholders back Orocobre play

By: Esmarie Iannucci     15th April 2020 The shareholders of Canadian takeover target Advantage Lithium have overwhelmingly voted in favour of a takeover from dual listed lithium miner Orocobre. Orocobre in February inked a definitive agreement to acquire Advantage, offering that company’s shareholders 0.142 Orocobre shares for every... 

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