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Diversified Miners News
Cost blow-outs and delays confirmed at Oyu Tolgoi
By: Esmarie Iannucci 3rd July 2020 Mining major Rio Tinto on Friday confirmed a cost blow-out of between $1.3-billion and $1.8-billion at the Oyu Tolgoi copper project, in Mongolia, compared with the original $5.3-billion capital estimates. Meanwhile, first sustainable production has been delayed by between 21 and 29 months... →
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... →
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. →
Rio adds to board
By: Esmarie Iannucci 2nd July 2020 Diversified major Rio Tinto has added a strategy and development role to its executive committee, with Peter Toth appointed as a group executive. The new role will be focused on leading Rio’s transformation efforts around portfolio, climate change, and closure, working in partnership with the... →
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 →
Hydrogen to fuel giant mining trucks in green shift by Anglo
By: Bloomberg 1st July 2020 Anglo American is advancing plans to convert its fleet of giant diesel-fueled mine trucks to hydrogen power as the company seeks to burnish its green credentials. More than 400 mine-haul trucks could be rebuilt to use hydrogen fuel, with a pilot project starting next year at Anglo American... →
Glencore pays $1.3bn to SA government in 2019
By: Donna Slater 30th June 2020 Diversified miner Glencore made payments of $7.7-billion to the governments of countries in which it operates in 2019. This includes $96.6-million paid to the South African government in taxes, royalties and other payments. →
Exxaro says safety strategy paying off
By: Marleny Arnoldi 30th June 2020 JSE-listed diversified miner Exxaro has achieved 730 lost-time-injury- (LTI-) free days at the plant and central engineering workshop work areas within the Matla coal mine. This is equivalent to two years of zero mineworker LTIs, it says. →
SA Inc must act now to take ownership of battery metals value chain – Bushveld
By: Martin Creamer 26th June 2020 Bold action is needed by South Africa Inc to take ownership of the significant potential share of the global battery metals market open to it, says Bushveld Minerals CEO Fortune Mojapelo. Speaking to Mining Weekly following this week’s presentation by the company of solid 2019 financial results... →
Gascoyne creditors approve DOCA
By: Esmarie Iannucci 26th June 2020 The creditors of ASX-listed Gascoyne Resources have approved a deed of company arrangement (DOCA) as part of a broader recapitalisation and relisting plan for the gold miner. The DOCA and associated recapitalization and relisting plan was formulated with the objective of Gascoyne continuing to... →
Lesotho opens more border posts for return of foreign mineworkers
By: Martin Creamer 25th June 2020 Lesotho has opened up more border posts to speed up the return to work of locked-down foreign mineworkers. As reported by Mining Weekly last week, 12 000 mineworkers had one border post at their disposal on re-entering South Africa from Lesotho and the opening of more border posts was requested. →
Anglo American calls for cooperative response in trying times
By: Schalk Burger 25th June 2020 Diversified miner Anglo American CE Mark Cutifani has called for a society-wide response to the global Covid-19 crisis and says the miner is committed to global tax and the Extractive Industries Transparency Initiative (EITI). In its Tax and Economic Contribution report for the year ended... →
Six mineworkers die from Covid-19 – Minerals Council
By: Martin Creamer 25th June 2020 Six mineworkers have succumbed to coronavirus since the start of the pandemic, Minerals Council South Africa said on Thursday. Back at work so far and screened daily are 272 770 mineworkers, on which 16 994 tests have been conducted, yielding 1 796 positive Covid cases and 666 recoveries,... →
Exxaro expecting higher coal export volumes, lower domestic sales
By: Simone Liedtke 25th June 2020 Diversified miner Exxaro Resources expects a mixed picture for demand for its coal products as the Covid-19 pandemic continues to take its toll on the global economy. In a interim pre-close update by FD Riaan Koppeschaar on June 25, the group pointed out that it had, to date, recorded eight... →
Minerals Council looks forward to more detail following supplementary budget
By: Marleny Arnoldi 25th June 2020 The Minerals Council South Africa says Finance Minister Tito Mboweni’s Supplementary Budget speech expressed the right perspectives on the management of the country’s deepening fiscal crisis, but lacked detail on the steps that have to the taken to rescue the economy. “It is important to... →
Infrastructure investment, China & the hydrogen economy make headlines
25th June 2020 Mining Weekly Editor Martin Creamer unpacks the need for SA to invest more in productive infrastructure to boost the economy, China becoming a net importer of vanadium and how Covid-19 could be catalyst for the hydrogen economy to take off. →
Samarco fund approves $100m infrastructure investment
By: Esmarie Iannucci 24th June 2020 Diversified giant BHP has reported that the Renova Foundation had approved a package of over $100-million to fund works in the health and infrastructure sectors in municipalities of the Doce River basin, in Brazil. The miner said that the government projects were selected by the states for their... →
BHP launches METS programme in Aus
By: Esmarie Iannucci 24th June 2020 Mining giant BHP as partnered with industry body Austmine to launch its supplier innovation programme across Australia. Following a successful program in BHP’s Minerals Americas business, the BHP Austmine supplier innovation programme would provide opportunities for Australian mining equipment,... →
Altus appoints new business development manager
By: Tasneem Bulbulia 22nd June 2020 Dual-listed Altus Strategies has appointed Alister Hume business development manager, with immediate effect. Altus says he will play an integral role for the company in evaluating and progressing the growing number of potential royalty and project transactions under review. →
Vale to sell stake in nickel producer to Indonesia's Inalum
By: Reuters 22nd June 2020 Brazil iron-ore miner Vale said on Friday in a securities filing that its Canadian subsidiary had reached an agreement to sell a 20% stake in the nickel producer PT Vale Indonesia to state-controlled PT Indonesia Asahan (Inalum). Vale's Canadian subsidiary will receive $290-million for the sale,... →
Glencore says will cooperate with investigation by Swiss
By: Martin Creamer 20th June 2020 Diversified mining company Glencore stated at the weekend that it would cooperate with an investigation opened into it by the office of the attorney general of Switzerland. Glencore stated in a release to Mining Weekly that it had been informed by the office of the attorney general that it had... →
Glencore head office.
Glencore human rights report showcases progress
By: Tasneem Bulbulia 19th June 2020 Diversified miner Glencore’s 2019 Human Rights Report states that the company continued to make progress with its approach to human rights, focusing on four work programmes. Glencore group head of sustainability Anna Krutikov on June 19 said the company’s report detailed its approach to managing... →
Minerals Council shares details of mining industry's Covid-19 resilience with committee
By: Marleny Arnoldi 19th June 2020 With a higher test rate at 3.01%, compared with the national and global average test rates of 2.07% and 1.57%, respectively, South Africa’s mining industry is proving to be handling the Covid-19 pandemic better than most sectors, the Minerals Council has said. Minerals Council CEO Roger Baxter... →
Minerals Council CEO Roger Baxter
BHP advances Trion work
By: Esmarie Iannucci 19th June 2020 Diversified major BHP have tapped Altera Infrastructure doing business as (dba) Teekay Shipping Norway AS, BW Offshore dba BW Offshore Singapore, and SBM Offshore dba Single Buoy Moorings to deliver an early engineering study for a floating storage and offloading unit (FSO) for the Trion field in... →
Barrick Gold alerts authorities after fake news release claims it sold Lumwana mine
By: Reuters 19th June 2020 Barrick Gold on Thursday said there is "absolutely no truth" in a news release circulated on social media in Zambia claiming the gold miner sold its Lumwana copper mine. The fake press release, dated June 15, claimed Barrick had sold its Zambian copper mine to Metalinvest Capital Corporation and... →
Rio launches internal review into Aboriginal cave disaster
By: Esmarie Iannucci 19th June 2020 Major Rio Tinto has launched a board-led review of its heritage management processes within its iron-ore division following the events at Juukan Gorge, with a focus on recommending improvements to the effectiveness of its internal processes and governance. The company review comes after the... →
Alexkor, Tshipi Borwa and Acacia Mining make headlines
18th June 2020 Mining Weekly Editor Martin Creamer unpacks Alexkor's need for a panel of experts, the Tshipi Borwa manganese mine remaining profitable and the three Acacia Mining employees who were released from a Tanzanian jail. →
Australia begins probe into Rio's destruction of Aboriginal site
By: Reuters 18th June 2020 Australia called for submissions on Thursday to an inquiry into how mining giant Rio Tinto legally blew up two sacred Aboriginal caves that showed human history stretching back at least 46,000 years. Rio in late May destroyed the sacred caves in the Juukan Gorge in the Pilbara region of Western... →
Ethiopia looking to bolster investment in resources, mining
By: Simone Liedtke 17th June 2020 With an abundance of natural resources that have not been significantly exploited, Ethiopia has “enormous potential” for the export of these resources and at a relatively low production cost, Ethiopia Ministry of Mines, Petroleum and Natural Gas planning, monitoring and evaluation director... →
BHP names CFO successor for veteran Beaven
By: Marleny Arnoldi 17th June 2020 Anglo-Australian diversified miner BHP has appointed David Lamont CFO, effective December 1, 2020. He succeeds Peter Beaven, who will serve as CFO until November 30, but will continue to support Lamont into early 2021 for a seamless handover. →
David Lamont
Dominion takes on Rio subsidiary over alleged contract breach
By: Marleny Arnoldi 17th June 2020 Struggling Canadian miner Dominion Diamond Mines has filed a lawsuit in the Supreme Court of British Columbia, suing global miner Rio Tinto’s subsidiary Diavik Diamond Mines Incorporated (DDMI). The legal action relates to an alleged breach of contract and an alleged breach of fiduciary duty... →
Australia’s pension giant pressing Rio over heritage site blasts
By: Bloomberg 16th June 2020 Australia’s biggest pension fund said it is pressing Rio Tinto Group on the destruction of a 40 000-year-old Aboriginal heritage site, though isn’t yet contemplating selling down its stake in the world’s second-biggest miner. “I don’t think we’re at that position yet, the company has been... →
More border openings wanted for returning workers – Minerals Council
By: Martin Creamer 15th June 2020 More border openings are wanted for returning foreign mineworkers. As of Thursday last week, not a single foreign mineworker had re-entered South Africa from neighbouring foreign countries. “Only a limited number of border posts are open,” Minerals Council South Africa environment, health and... →
Rio boss apologises for cave fiasco
By: Esmarie Iannucci 12th June 2020 The CEO of mining major Rio Tinto has apologized for the distress caused by the company’s unintentional destruction of two sacred Aboriginal caves in Western Australia, saying the company would fully cooperate with the Inquiry by the Joint Standing Committee on Northern Australia. Blasting... →
Products meet mining lubrication challenges
By: Cameron Mackay 12th June 2020 Bearings and power transmission product distributor Bearings International (BI) is offering industrial equipment manufacturer ROCOL’s range of wire rope lubricant products to solve vital and complex lubrication challenges for local miners. “Where lubricants are put through the most challenging... →
240 000 miners back at work – Minerals Council South Africa
By: Martin Creamer 11th June 2020 An estimated 240 000 miners are back at work on 385 large and small mines across South Africa, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Each and every one of these miners was screened on their return to work after lockdown... →
Human rights groups concerned about DRC miners' confinement at sites
By: Tasneem Bulbulia 11th June 2020 Multinational copper and cobalt mining companies in the Democratic Republic of Congo (DRC) should take immediate steps to protect the rights of thousands of Congolese workers’ during the Covid-19 pandemic, a group of 11 international and Congolese human rights groups have said. In a letter... →
ICMM members record 287 fatalities in 2019
By: Martin Creamer 11th June 2020 The International Council on Mining and Metals (ICMM) on Thursday released the 2019 safety data of its company members, who reported 287 occupational fatalities, a marked increase from the 50 fatalities recorded in 2018 and 51 fatalities recorded in 2017. ICMM said in a media release to Mining... →
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