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Covid-19 News
Hochschild halts operations in Peru after virus outbreak
By: Simone Liedtke Updated 1 hour 38 minutes ago A number of workers at silver and gold mining company Hochschild Mining’s Inmaculada operation, in southern Peru, have tested positive for Covid-19, despite preventative measures being in place, including a comprehensive testing programme and quarantine for all employees. The UK-based company has... →
Fortuna suspends Caylloma operations for two weeks
By: Simone Liedtke Updated 2 hours 27 minutes ago NYSE- and TSX-listed Fortuna Silver Mines has voluntarily suspended operations for two weeks at its Caylloma mine, in Peru, following the sudden death of a 34-year old contractor employee on July 5. The cause of death has not yet been determined, but the individual had completed a health check,... →
Third-quarter ferrochrome benchmark price rolls over at $1.14/lb
By: Martin Creamer Updated 3 hours ago The European benchmark ferrochrome price for the third quarter of 2020 has been settled at $1.14/lb, a rollover from the second quarter of 2020, JSE-listed Merafe Resources advised shareholders on Monday. This price remains an increase of 12.9% on the first-quarter price of $1.01/lb. →
Lion ferrochrome.
Copper poised to maintain upward price trajectory, says ERG CEO
By: Simone Liedtke Updated 3 hours ago Diversified miner Eurasian Resources Group (ERG) says the unprecedented levels of stimulus across the world are set to sustain the recovery in copper demand in the longer term, with the supply impact of the Covid-19 pandemic expected to extend beyond this year. Growth drivers include the digital... →
Weekly Coal Index Report
Updated 6 hours ago Physical coal markets can’t seem to catch a break. Even as paper prices strengthened slightly across the curve, the discount to physical deepened as lack of buyer activity persisted. The Rand is also stubbornly strengthening as a wave of “risk on” sentiment permeates global markets and the energy... →
WA amends mining regulations to ease Covid constraints
By: Esmarie Iannucci Updated 7 hours ago The Western Australian state government has amended the state’s mining regulations to assist tenement holders to apply for expenditure exemption amid the Covid-19 pandemic. Under the revised regulations, tenement holders could now apply for expenditure exemptions if they are able to demonstrate... →
Mitsui Mining resumes operation of Peru's zinc mines
By: Reuters 6th July 2020 Japan's Mitsui Mining and Smelting said on Monday its two zinc mines in Peru resumed operations on July 2 after a closure of more than three months to limit the spread of the novel coronavirus. The company's Huanzala and Palka mines had been suspended since March 16 after the local government... →
Lundin Gold provides 2020 outlook for Ecuador mine
By: Mariaan Webb 6th July 2020 TSX-listed Lundin Gold has issued a 2020 production guidance for its Fruta del Norte mine, in Ecuador, after confirming on Sunday that operations have resume. The mine is forecast to produce between 200 000 oz and 220 000 oz during the year, of which 150 000 oz to 170 000 oz will be produced in... →
More than 80 at Trevali mine positive for Covid
By: Mariaan Webb 6th July 2020 TSX-listed Trevali Mining now has more than 80 confirmed cases of Covid-19 at its Santander operation, which is nearly 30% of the total workforce of the mine in Peru. The company suspended operations at Santander in late June, after 19 workers tested positive for the virus during routine... →
Sasol gives up licence to seek offshore gas in Mozambique
By: Reuters 5th July 2020 South African petrochemicals giant Sasol has opted to give up its licence to explore for gas off the Mozambique coast, the company said on Sunday. "Sasol will return Block 16/19 in its entirety to the Government of Mozambique. To this end, a withdrawal notification has already been sent to the... →
Congo mines minister to meet with firms on confinement moratorium
By: Reuters 5th July 2020 Democratic Republic of Congo mines minister Willy Kitobo Samsoni plans to meet with mining companies to agree a moratorium on confining workers to mine sites due to the coronavirus. Civil society groups last month demanded an end to mandatory mine-site confinement policies put in place by copper... →
Sasol narrows immediate asset-disposal focus to ‘top ten’ list 
By: Terence Creamer 3rd July 2020 Chemicals and energy group Sasol has developed a list of ten major assets that will be prioritised for sale in the coming weeks and months as it moves to streamline the business into what is being termed ‘Sasol 2.0’, while also raising proceeds to help it reduce a $9.5-billion debt burden. In... →
Sasol CFO Paul Victor
Power Metal progresses with Kisinka exploration
By: Donna Slater 3rd July 2020 Metal explorer and developer Power Metal Resources (Power Metal) has completed most elements of the follow-up programme at the Kisinka project in the Democratic Republic of Congo, including pitting and mapping. Laboratory analysis will, however, only be possible after air cargo routes reopen. →
Codelco warns more restrictions on copper mines would be 'catastrophic' - report
By: Reuters 2nd July 2020 Chile's State-run Codelco, the world´s top copper producer, warned on Thursday any move to ramp up restrictions on its mines amid the coronavirus outbreak would be "catastrophic" for the country, the company´s chief executive said in an interview in a local daily newspaper. CEO Octavio Araneda... →
Covid kills 13 mineworkers, no foreigners back at work 
By: Martin Creamer 2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... →
Mining will need long-term strategies to survive new normal
By: Simone Liedtke 2nd July 2020 For the mining industry to be successful post-Covid-19, the industry will require long-term strategies to deal with its challenges, which includes the pandemic. In a webinar hosted by the London Bullion Market Association (LBMA) on July 2, investment management firm Orion Resource Partners... →
GlobalData expects iron-ore consumption to decrease 2.8% this year
By: Tasneem Bulbulia 2nd July 2020 Global iron-ore consumption is likely to decrease by 2.8% this year, as a result of the impact of Covid-19 on the mining sector, as well as owing to decreased demand in the automotive industry, says analytics and data company GlobalData. It points out that the automotive industry accounts for... →
Ekapa changes name, donates face masks
By: Donna Slater 2nd July 2020 Following the ceasing of the joint venture (JV) between diamond miners Kimberley Ekapa Mining (KEM) and Petra Diamonds, KEM has changed its name to only Ekapa. At the end of 2018, Petra Diamonds announced its completion of the sale of its and its black economic empowerment partner’s 75.9%... →
Nersa to provide concurrence on technology-specific determination this month
By: Terence Creamer 2nd July 2020 The National Energy Regulator of South Africa indicated on Thursday that it intended providing concurrence this month for a Ministerial determination that would open the way for the procurement of new electricity generation capacity in line with allocations contained in the 2019 edition of the... →
PGMs, battery metals market potential, De Beers' R10m Covid-19 lab make headlines
2nd July 2020 Mining Weekly Editor Martin Creamer unpacks platinum group metals being in a great position to benefit from the fast-growing global decarbonisation momentum, SA and the global battery metals market; and De Beer’s R10-million coronavirus testing lab. →
Hydrogen-powered aviation preparing for takeoff – study
By: Martin Creamer 2nd July 2020 Hydrogen as an energy source will play a key role in transforming aviation into a zero-carbon/climate-neutral system over the next few decades, an independent study states in estimating that the first short-range hydrogen-powered demonstrator could be developed by 2028 if sufficient investments... →
RBPlat opens 200-bed field hospital to support govt in fight against Covid-19
By: Simone Liedtke 1st July 2020 Platinum group metals miner Royal Bafokeng Platinum (RBPlat), together with the North West Department of Health, has officially opened the 200-bed Royal Bafokeng Platinum Field Hospital, in Rustenburg, at a cost of about R10-million, to support government’s already overburdened resources in the... →
Covid-19 uncertainties giving precious metals a boost
By: Donna Slater 1st July 2020 Gold has maintained its safe haven status, with prices now having reached eight-year highs at about $1 800/oz on a fresh wave of Covid-19 infections that has been reported in parts of the US, the UK and China, integrated business enterprise Mitsubishi Corporation states. It notes in its '2020... →
ELB’s delisting-linked offers send up share price
By: Martin Creamer 1st July 2020 The board of directors of ELB on Wednesday made delisting-linked offer to its shareholders, which saw its share price rise. By late afternoon, the JSE-listed company’s price had risen by 54.17% to R1.85 a share. The capital equipment and engineering solutions group proposed a transaction to... →
Gamsberg zinc mine project in the Northern Cape, where ELB Engineering Services was active.
Resources Watch
1st July 2020 This week: Ethiopia looking to bolster investment in resources, mining; And, Covid-19 is an important catalyst for hydrogen economy’s take-off →
Arnot OpCo concludes Section 189 process affecting 1 100 employees
By: Martin Creamer 1st July 2020 Coal mining company Arnot OpCo has completed a Section 189 process, affecting 1 100 of its employees. Exxaro Resources in February entered into a transfer-of-business agreement with Arnot OpCo, transferring all its assets and liabilities to Arnot OpCo as a going concern. →
R10m Covid testing lab unveiled at De Beers' Venetia diamond mine
By: Martin Creamer 1st July 2020 De Beers Venetia Mine has unveiled a R10-million coronavirus testing laboratory that will be used to check the diamond mines’ employees and contractors for Covid-19. Discussion with the Department of Health is also under way on assisting with the government’s screening efforts in the mine’s... →
Platinum group metals in pole position to benefit from global decarbonisation thrust
By: Martin Creamer 1st July 2020 Platinum group metals are in pole position to benefit from the fast-growing global decarbonisation momentum, Mining Weekly can today report. A multiplicity of global announcements are emerging daily that inextricably link platinum-catalysed hydrogen fuel cells as well as platinum-catalysed... →
New Kirkland Lake guidance not too dissimilar from pre-Covid guidance
By: Mariaan Webb 30th June 2020 Gold miner Kirkland Lake Gold has re-issued its guidance for 2020, after it withdrew its initial 1.47-million-to-1.54-million guidance in April, owing to the impact of measures that it introduced to protect its workers, their families and the communities during the Covid-19 pandemic. The new... →
Polyus maintains output targets following Covid outbreak at largest mine
By: Reuters 30th June 2020 Russia's largest gold producer Polyus on Tuesday confirmed its output forecasts for this year and next following a major outbreak of coronavirus at its main Olimpiada mine in Siberia, which infected nearly a quarter of workers at the site. Polyus started testing all its staff in the Siberian... →
Gold climbs above $1 800 for the first time since 2011
By: Bloomberg 30th June 2020 Gold futures rose above $1 800/oz for the first time in eight years as low interest rates and a resurgence in coronavirus cases drive demand for the metal as a haven. The metal is heading for its best quarter since early 2016, benefiting from economic stimulus from the Federal Reserve and other... →
Economic opportunity of South Africa’s energy transition akin to new ‘gold rush’
By: Terence Creamer 30th June 2020 South Africa’s energy transition from coal to cleaner energy carries an economic opportunity equivalent to the discovery of gold in the country more than a century ago, a new South African National Energy Association (Sanea) report argues. Published on June 30, the ‘South African Energy Risk... →
Pleasantly surprised by productivity during lockdown – Babcock Ntuthuko Engineering
By: Martin Creamer 30th June 2020 Engineering company Babcock Ntuthuko Engineering has been pleasantly surprised by the productivity and agility that the lockdown has afforded it as an engineering house engaged in the energy sector. Babcock Ntuthuko Engineering’s major industrial clients include State electricity utility Eskom... →
Copper heads for best quarter since 2010 as supply worries mount
By: Bloomberg 29th June 2020 Copper is poised for its best quarter since 2010, helped by optimism over a stronger-than-expected demand rebound in top consumer China and mounting supply concerns in South America. The metal used in everything from automobiles to electronics has surged 21% this quarter, and climbed above $6... →
Fairtree takes 5%-plus of Harmony Gold
By: Martin Creamer 29th June 2020 South African investment management company Fairtree Asset Management now holds more than 5% of the ordinary shares of gold mining company Harmony Gold, the company stated on Monday. The Cape Town-based Fairtree, which describes itself as a ‘long-only’ investment manager, has more than... →
Mponeng gold mine.
Weekly Coal Index Report
29th June 2020 Physical RB1 had another tough week, with at least one cargo going through at around $48/mt. Although Chinese utilities are restocking, they are having to use domestic coal as they lack import quotas from government. This is a trend that the Chinese government wants to see strengthening as it has... →
Ariana delays final results
By: Simone Liedtke 29th June 2020 Aim-listed explorer and developer Ariana Resources has been granted a three-month extension for the reporting and filing of its financial results, for the period ended December 31, 2019. The company has to file its results by no later than September 30. →
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