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Europe News
Glencore welcomes Australian govt's investments for clean future
By: Marleny Arnoldi 18th September 2020 Diversified miner Glencore has welcomed the Australian federal government’s decision to invest A$1.9-billion in a suite of new and emerging energy technology to position the country for a low-emission future. To this end, metals and minerals will play a key role in the global transition to a... →
European benchmark ferrochrome price remains at $1.14/lb for the fourth quarter
By: Tasneem Bulbulia 18th September 2020 The European benchmark ferrochrome price for the fourth quarter has been settled at $1.14/lb, a rollover from the third quarter, JSE-listed Merafe Resources said on September 18. In July, Mining Weekly reported that the European benchmark ferrochrome price for the third quarter had been settled... →
GlobalData expects 1.7% drop in gold output this year
By: Marleny Arnoldi 18th September 2020 The suspension of mining activity owing to Covid-19 restrictions around the world in the second quarter of the year will result in a 1.7% decline in global gold production this year, says data and analytics company GlobalData. It expects almost all top gold producers in key markets, including... →
Polymetal's biggest shareholder raises $443m from 4% stake sale
By: Reuters 18th September 2020 Russian gold and silver producer Polymetal's biggest shareholder has raised £342-million from the sale of a 4% stake in the company through an accelerated book building (ABB), a bookrunner said on Friday. IST Group, owned by businessman Alexander Nesis, sold 19-million shares in Polymetal, it... →
Papillon making ‘good progress’ towards completing Mayflower transaction
By: Simone Liedtke 18th September 2020 London-listed investment company Papillon Holdings is making “good progress” towards completing the transaction agreement with Mayflower Capital Investments, which will result in the company acquiring some or all the interest of two gold assets located in Kenya and Congo-Brazzaville. The company... →
Gemfields seeking alternatives to auctions
By: Simone Liedtke 18th September 2020 Gemstone miner Gemfields says it is unable to provide guidance as to when it might be able to host its next auction, or generate meaningful revenue from sales, with its financial results for the first half of this year, ended June 30, reflecting the "immense impact” of the Covid-19 pandemic and... →
Cybersecurity has to remain ‘front of mind’ for miners, says panel
By: Simone Liedtke 18th September 2020 As the world becomes more connected through information technology (IT) and operational technology (OT), ABB local division manager for mining solutions John Manuell warns that cybersecurity will need “to remain front of mind”. With the advent and increasing use of digital technologies,... →
Bullish sentiment about PGMs sector’s immediate outlook, long-term potential 
By: Nadine James 18th September 2020 Speakers at the September 9 virtual 2020 PGMs Industry Day, hosted against the backdrop of historically high prices for certain platinum-group metals (PGMs), seemed cautiously optimistic about the immediate outlook for, and long-term potential of, the PGMs sector. The event, organised by... →
Kinross production to grow 20% by 2023, declares dividend
By: Mariaan Webb 17th September 2020 Canada-headquartered gold miner Kinross will grow its production by half-a-million gold-equivalent ounces (GEO), or about 20%, over the next three years, CEO Paul Rollinson said on Thursday, as he also announced the group's first quarterly dividend in a number of years. Production is forecast to... →
Egoli likely to be S Africa’s least complicated underground gold mine – Pan African 
By: Martin Creamer 17th September 2020 What is expected to be South Africa’s least complicated underground gold mine is on the way at Evander, Mpumalanga, in the form of the Egoli gold project. Planning to bring the low-capital quick-return project to life is Pan African Resources, the London-, Johannesburg- and New York-listed... →
Report says mining industry has ‘huge SDG potential’, but laments lack of action
By: Simone Liedtke 17th September 2020 The mining industry, which has a significant role to play in contributing to and achieving the United Nations Sustainable Development Goals (SDGs), is falling short, according to a new report by the Responsible Mining Foundation and Columbia Centeron Sustainable Investment, titled 'Mining and the... →
Energy transition to have transformative effect on mining sector
By: Tasneem Bulbulia 17th September 2020 Climate change and environmental and social governance (ESG) will transform the energy industry risk landscape, said global advisory, broking and solutions company Willis Towers Watson at the launch of its yearly Mining Risk Review on September 17. It noted that this transformation was taking... →
Kenmare safely relocates dredge as part of WCP B move
By: Tasneem Bulbulia 17th September 2020 LSE-listed Kenmare Resources has safely completed relocation of the dredge that forms part of the wet concentrator plant (WCP) B mining operation and its Moma titanium minerals mine, in northern Mozambique. Kenmare previously announced three development projects that together have the objective... →
Cornish Lithium mulls second round of crowdfunding, IPO for UK project
By: Reuters 17th September 2020 Britain's Cornish Lithium said on Thursday it was considering another round of crowdfunding for its geothermal lithium project after reporting high grades of the key battery ingredient in brine that also produces renewable power. The exploration company, founded and headed by ex-banker Jeremy... →
Kallak products will be ‘market leading’, says Beowulf
By: Mariaan Webb 17th September 2020 The Kallak North deposit, which explorer and developer Beowulf Mining has been lobbying Sweden to exploit, has the potential to produce an exceptionally high-grade magnetite concentrate of 71.5% iron content. London-listed Beowulf Mining on Thursday announced findings of an expert market... →
TNG looks at green hydrogen production at Mt Peake
By: Esmarie Iannucci 17th September 2020 – ASX-listed TNG will partner with Germany-based strategic engineering group SMS Group for the development of a carbon-neutral technology to produce green hydrogen as part of an optimsiation strategy for the Mount Peake vanadium/titanium/iron project, in the Northern Territory. Under the... →
Euro Sun hoping to start construction in 2021
By: Mariaan Webb 17th September 2020 The last two quarters have come with significant change for Canada-based junior Euro Sun, which is developing the ten-million-gold-equivalent ounce Rovina Valley project, in Romania. Operationally, Euro Sun added to its senior management to advance the permitting and engineering at Rovina... →
Altus secures royalty, upfront and future payment agreements for Côte d'Ivoire gold projects
By: Marleny Arnoldi 16th September 2020 TSX-V- and Aim-listed Altus Strategies has signed purchase and sales, and net smelter return royalty (NSR), agreements with TSX-V-listed Stellar Africa Gold. This relates to Altus selling its 100% interest in Aeos Resources, which, through a Ivorian subsidiary named Aucrest, owns the Prikro and... →
Solar to provide most of gold plants’ daytime power – Pan African
By: Martin Creamer 16th September 2020 The 10 MW solar electricity plant that Pan African Resources will construct on site at its Elikhulu gold-from-tailings plant next year at a cost of R150-million will take care of most of Elikhulu’s daytime power requirements. This is the first phase of solar power generation at Evander. Pan... →
CAML defers dividend decision pending clarity on tailings leak
By: Mariaan Webb 16th September 2020 London-listed Central Asia Metals has deferred its dividend decision and is reviewing its zinc and lead production guidance, after a tailings storage facility leak earlier in the week at its Sasa facility, in Northern Macedonia. The company planned to reinstate its dividend, but has now delayed... →
Cora Gold appoints new exploration head
By: Simone Liedtke 16th September 2020 West Africa-focused gold miner Cora Gold has appointed Norman Bailie as exploration head, with immediate effect. Bailie succeeds Dr Jonathan Forster, who is retiring from this role but will continue to be retained as an adviser to the company. He is an accredited chartered professional... →
Top miner BHP sees profit in a world speeding up climate action
By: Bloomberg 16th September 2020 BHP Group, a major industrial polluter, says it will benefit most from a global shift toward faster and more dramatic measures to address climate change, and aims to profit from doing so itself.The top miner, which plans to reduce emissions attached to its own operations, will drive the... →
Russia considers mineral extraction tax rise, Kremlin says no decision
By: Reuters 16th September 2020 Russia is considering tripling the mineral extraction tax on metals and fertiliser producers as Moscow seeks ways to raise revenues, industry sources told Reuters on Wednesday, although the Kremlin said no decision had yet been taken. The tax rise under review, which would affect firms including... →
Platinum jewellery showing signs of resilience post-pandemic, says WPIC
By: Simone Liedtke 16th September 2020 The platinum jewellery market is showing signs of resilience in the wake of the Covid-19 pandemic, supported by new research into consumer sentiment, says the World Platinum Investment Council (WPIC). In a newsletter by the council, published on September 16, it notes that jewellery is the... →
Petra recovers five blue diamonds at Cullinan mine
By: Simone Liedtke 16th September 2020 London-listed Petra Diamonds has recovered five Type IIb blue diamonds of high quality, in terms of both their colour and clarity, at its Cullinan mine, in South Africa. The diamonds are also significant in terms of their size, weighing 25.75 ct, 21.25 ct, 17.57 ct, 11.42 ct and 9.61 ct, and are... →
Papillon makes ‘good progress’ in making board changes for Mayflower transaction
By: Simone Liedtke 16th September 2020 London-listed investment company Papillon Holdings nonexecutive director Lord Monson has been appointed nonexecutive chairperson. He succeeds James Longley, who remains CFO and nonexecutive director. →
Pan African proposes record final dividend as headline earnings surge
By: Martin Creamer 16th September 2020 Gold mining company Pan African on Wednesday proposed a record final dividend after headline earnings surged 93% and net cash generated by operating activities rose by 42%. Mining Weekly can report that, in the 12 months to June 30, gold produced by the London-, Johannesburg- and New York-listed... →
Pan African CEO Cobus Loots
Great opportunity to lock in higher gold price for future – Harmony
By: Martin Creamer 16th September 2020 The current gold price presents a great opportunity to lock in the higher price for the future, says Harmony Gold FD Boipelo Lekubo, against the backdrop of Harmony’s hedging programme realising gains of R2.2-billion since its inception, but the recent dollar and rand gold prices also negatively... →
Harmony Gold financial director Boipelo Lekubo
Digital technologies drive transformation in mining
By: Simone Liedtke 15th September 2020 With many things having changed, never to be the same, Microsoft South Africa enterprise director Amr Kamel says of the power of technology: “It will always help people and organisations to adapt, re-invent and transform”. South Africa’s mining industry contributed R360-billion to the country's... →
Mponeng integration presenting ‘wonderful opportunities’ – Harmony Gold
By: Martin Creamer 15th September 2020 The integration of Mponeng underground gold mine and Mine Waste Solutions surface gold recovery operation into Harmony Gold was presenting “wonderful opportunities” in the West Wits area, Harmony CEO Peter Steenkamp said on Tuesday. Harmony, which will be on site at Mponeng and Mine Waste... →
BHP freezes executive salaries as CEO Henry takes $6.1m for first 6 months
By: Reuters 15th September 2020 Global miner BHP Group said in its annual report on Tuesday that it froze salaries of key leadership personnel for the coming financial year, while CEO Mike Henry received $6.1-million in the first six months on the job. Henry, who became chief executive on January 1 this year, was set a salary... →
CAML reports tailings leak in North Macedonia
By: Creamer Media Reporter 15th September 2020 London-listed Central Asia Metals has suspended the processing plant at its Sasa operation, in North Macedonia, following a leakage of tailings from TSF4 into a local river. The leakage was detected on Monday morning and was stopped soon after. The company says it has informed relevant parties... →
Kenmare WCP B relocation under way in Mozambique
By: Tasneem Bulbulia 15th September 2020 The relocation of the Wet Concentrator Plant (WCP) B at Kenmare Resources' Moma titanium minerals mine, in northern Mozambique, is under way. Kenmare previously announced three development projects that, together, have the objective of increasing yearly ilmenite production to 1.2-million tonnes... →
BP says the era of oil-demand growth is over
By: Bloomberg 15th September 2020 BP said the relentless growth of oil demand is over, becoming the first supermajor to call the end of an era many thought would last another decade or more. Oil consumption may never return to levels seen before the coronavirus crisis took hold, BP said in a report on Monday. Even its most... →
Botswana Diamonds plans more drilling after anomaly shows up to 4 m kimberlite
By: Marleny Arnoldi 15th September 2020 Botswana- and London-listed Botswana Diamonds (BOD) has reported positive preliminary results from drilling undertaken at its Marsfontein project, in Botswana. The objective of the company’s latest drilling campaign was to test a historical anomaly identified as M17 to see if it had potential... →
US seeks to lower Russian uranium imports to boost US nuclear industry
By: Reuters 15th September 2020 The US Commerce Department on Monday inked a draft agreement with Russia's state nuclear energy company to reduce imports of uranium from Russia over the next 20 years in a bid to boost domestic mining and nuclear energy. The Commerce Department and Rosatom initialed the draft amendment to the... →
PEA outlines underground expansion extending Santa Rita to 34 years
By: Simone Liedtke 15th September 2020 A preliminary economic assessment (PEA) has confirmed the low-cost and long-life potential of Atlantic Nickel and Appian Capital Advisory's Santa Rita nickel/copper/cobalt mine, in Brazil. The PEA outlines a 34-year mine life, which includes a transition to underground mining after 8 years of... →
Harmony Gold’s free operating cash soars
By: Martin Creamer 15th September 2020 Gold mining company Harmony Gold on Tuesday reported 106% increase in operating free cash flows on a 25% improvement in the rand gold price to R735 569/kg in financial year 2020, resulting in a 9% increase in revenue to R29.25-billion. In the year to June 30, the company, headed by CEO Peter... →
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