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Europe News

Mopani transitions copper operations to care and maintenance 

By: Martin Creamer     Updated 1 hour 33 minutes ago Copper mining company Mopani Copper Mines plc said on Tuesday that it had placed its mining operations on care and maintenance and a number of projects on hold. The announcement, the company said, followed a number of meetings with Zambian government ministries to provide an update of its... 

De Beers contributes $2.5m Covid-19 funding to Botswana, Namibia  

By: Martin Creamer     Updated 3 hours ago Diamond mining and marketing corporation, the De Beers Group, on Tuesday announced that it would contribute $2 500 000 across Botswana and Namibia to aid the response to the Covid-19 crisis. De Beers Group is a 50/50 joint venture partner with both Botswana and Namibia in the recovery and sorting... 

De Beers contributes $2.5m Covid-19 funding to Botswana, Namibia
De Beers Group CEO Bruce Cleaver

Gold Fields promoting widespread human welfare during lockdown 

By: Martin Creamer     Updated 3 hours ago Gold mining company Gold Fields, which has placed its South Deep gold mine in Gauteng on care and maintenance for the 21-day lockdown period, is promoting human welfare funding cross a number of fronts during the Covid-19 crisis. Firstly, South Deep, the Westonaria mine with a 70-year life, will... 

Gold Fields promoting widespread human welfare during lockdown
Photo by Creamer Media
Gold Fields executive VP Martin Preece

Kodal warns shareholders of limited work on Bougouni this year

By: Marleny Arnoldi     Updated 5 hours ago As travel restrictions are impacting on Aim-listed Kodal Minerals’ ability to conduct or partake in necessary meetings, the company has advised that it cannot say when its financial and Ministerial review meeting will take place, nor the overall mining licence application process. The company... 

Edenville introduces business continuity programme amid Covid-19

By: Simone Liedtke     Updated 5 hours ago Aim-listed Edenville Energy has introduced a business continuity programme to protect its staff, while ensuring the continued and safe operation of the company, in response to the Covid-19 pandemic. The move has resulted in all nonessential travel being cancelled since early March, and all... 

Cora continues development at Sanankoro project

By: Marleny Arnoldi     Updated 5 hours ago Aim-listed Cora Gold CEO Bert Monro has published a letter to shareholders on its plans for the rest of the year, which will for the most part focus on taking the Sanankoro project, in Mali’s Yanfolila gold belt, into development. The company is planning further metallurgical testwork... 

Kazatomprom slashes 2020 uranium guidance

By: Creamer Media Reporter      Updated 6 hours ago Kazakhstan’s uranium major, Kazatomprom, on Tuesday announced that its uranium production volumes would decrease by about 4000 t, owing to measures imposed to combat Covid-19. The previous guidance for 2020 was 22 750 t to 22 800 t, on a 100% basis. The reduced production level should not... 

Covid-19 preventing shareholders from attending Anglo AGM

By: Martin Creamer     Updated 7 hours ago Shareholders will not be permitted to attend this year’s annual general meeting (AGM) of Anglo American because of Covid-19 restrictions – but they have been invited to submit questions in advance for answering at the AGM. The London- and Johannesburg-listed diversified mining company said in a... 

Anglo Asian uses chartered flight to send gold to Switzerland

By: Marleny Arnoldi     Updated 7 hours ago Aim-listed Anglo Asian Mining has made a further shipment of gold doré bars containing 4 688 oz of gold to MKS Finance, in Switzerland, by way of air-charter. This follows after the company in March stated that owing to the cessation of scheduled air flights amid the Covid-19 pandemic, the... 

Atalaya sets copper guidance for 2020

By: Marleny Arnoldi     Updated 7 hours ago A lower average copper price realised for the year ended December 31, 2019, resulted in TSX- and Aim-listed Atalaya Mining generating lower aftertax profit of €31-million, compared with €34-million in the year ended December 31, 2018. The average copper price realised in the year under review... 

Standard Bank notes SARB’s hold-back guidance on dividends, bonuses

By: Martin Creamer     7th April 2020 Africa’s biggest bank by assets, Standard Bank Group, said on Tuesday that it had noted the contents of the guidance of the Prudential Authority of the South African Reserve Bank (SARB) on dividend distributions to ordinary shareholders. SARB’s Prudential Authority, headed by Kuben Naidoo, has... 

Standard Bank notes SARB’s hold-back guidance on dividends, bonuses
Sim Tshabalala

Tailings risk management still not up to standard – foundation

By: Marleny Arnoldi     7th April 2020 The mining industry is still “dragging its heels” on the step-change measures required to prevent catastrophic tailings failures, such as the Brumadinho tailings dam collapse in Brazil that killed 270 people, says Responsible Mining Foundation (RMF). In the newly released 'Responsible Mining... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

By: Simone Liedtke     6th April 2020 Owing to unprecedented lockdown in much of Europe, the US and across the globe, the world is currently experiencing considerably lower economic activity, which in turn significantly reduces commodity consumption, says ratings agency Fitch Ratings. As a result, it expects global gross domestic... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

Gem concludes flexible tender sales process

By: Tasneem Bulbulia     6th April 2020 LSE-listed Gem Diamonds’ second round of the flexible tender sales process has been concluded and raised a further $6.7-million for a selection of  large, high-quality diamonds recovered at its Letšeng mine, in Lesotho. The company achieved an average value of $1 615 /ct for the first quarter of... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need 

By: Martin Creamer     6th April 2020 Diversified mining company Anglo American is going to remarkable lengths to support South Africa through the devastating Covid-19 crisis. The London- and Johannesburg-listed company, headed by Australian Mark Cutifani, is showing far-reaching corporate humanitarianism by taking firm steps to... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need
Photo by Bloomberg
Mark Cutifani

Healthy 2019 profits, cash generation to help Gemfields through Covid-19

By: Marleny Arnoldi     6th April 2020 JSE- and Aim-listed Gemfields delivered record group revenue and a healthy growth in operating profit in the year ended December 31, 2019; however, the fallout from Covid-19 is expected to have an adverse impact on the company’s operating and financial performance this year. “Widespread travel... 

Kore gets extended enviro compliance certificate for two Congo licences

By: Marleny Arnoldi     6th April 2020 ASX-, Aim- and JSE-listed Kore Potash has been granted 25-year certificates of environmental compliance by the Congo-Brazzaville government for the Dougou and Kola mining licences. The environmental- and social-impact assessments (ESIAs) for both licences previously required reapproval on a... 

Spain allows copper mine to resume as supplier to essential industries

By: Mariaan Webb     6th April 2020 Aim- and TSX-listed Atalaya Mining on Monday confirmed that operations had resumed at its Proyecto Riotinto copper mine, in Spain, after the mining department of Junta de Andalucía clarified that mining operations supplying other essential industries should continue to operate. Atalaya stopped... 

Spain allows copper mine to resume as supplier to essential industries
The Proyecto Riotinto mine has resumed operations.

Pembridge reduces economic interest in Minto

By: Simone Liedtke     6th April 2020 LSE-listed Pembridge Resources is set to restructure the share ownership of its Minto copper mine, in Canada. In light of the current financial market conditions owing to the outbreak of Covid-19 globally, and the potential for material cash calls on Pembridge, the company, with other Minto... 

Gold’s supply squeeze should ease as Swiss refineries reopen

By: Bloomberg     6th April 2020 The supply shortages in the gold market will likely ease in the coming weeks as Swiss refineries start running again. Three major plants in the Swiss canton of Ticino, Europe’s biggest gold-refining hub, have said they’ve received permission from local authorities to run their factories at a... 

Gold’s supply squeeze should ease as Swiss refineries reopen
Photo by Bloomberg
Gold refining in Switzerland

Antofagasta suspends contractor agreements for 120 days

By: Mariaan Webb     6th April 2020 Chilean miner Antofagasta Minerals has suspended contracts with most companies building its Los Pelambres expansion project for up to 120 days, but has stressed that this does not imply that contracts will be terminated. The London-listed company last week confirmed that its Los Pelambres... 

Antofagasta suspends contractor agreements for 120 days

Minister finds Covid-19 compliant mines but also laggards 

By: Martin Creamer     6th April 2020 As calls go out for mining to resume on April 17 or face serious setback, Mineral Resources and Energy Minister Gwede Mantashe has found excellent Covid-19 compliance by some coal mines that have been allowed to stay open to supply coal to Eskom – but inadequate response to directives by others.... 

Minister finds Covid-19 compliant mines but also laggards
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

Eurasian Resources execs take 30% pay cut in support of Covid-19 measures

By: Marleny Arnoldi     6th April 2020 Global diversified miner Eurasian Resources Group (ERG) CEO Benedikt Sobotka and first deputy CEO Aldiyar Kaztayev have offered to take a 30% cut in their salaries for 12 months, owing to the unprecedented challenges that the world is facing as a result of Covid-19. The company is confident... 

Rusal, Glencore agree aluminium deal worth up to $16.3bn

By: Reuters     3rd April 2020 Russia's Rusal has approved a new long-term aluminium supply contract with Glencore worth up to $16.3-billion, it said in a Hong-Kong regulatory statement on Friday. Swiss trader and metals producer Glencore has long been one of the main clients of Hong Kong-listed Rusal, the world's largest... 

M&R outlines evolving impact of Covid-19 disruptions to its projects

By: Marleny Arnoldi     3rd April 2020 JSE-listed Murray & Roberts (M&R) has noted the evolving impact of Covid-19 on its active projects in Australasia, the Americas and sub-Saharan Africa. The Oyu Tolgoi project in Mongolia, which the company’s Oil & Gas and Underground Mining platforms run in joint venture with a third partner,... 

Palladium One obtains another project in Finland

By: Creamer Media Reporter      3rd April 2020 Vancouver-headquartered Palladium One Mining has received approval from the Finnish Mining Authority for a 20 000-ha reservation, Kostonjarvi (KS), which is adjacent to its flagship Läntinen Koillismaa (LK) project in central Finland. The KS reservation covers a large buried gravity and magnetic... 

Palladium One obtains another project in Finland

Nevada Gold Mines assisting its local communities

By: Simone Liedtke     3rd April 2020 Nevada Gold Mines (NGM), in collaboration with the state of Nevada and its stakeholders, is working to identify immediate needs and provide financial and logistical support to mitigate the impact of the Covid-19 pandemic on its local communities. NGM is a joint venture (JV) between Barrick Gold... 

Gold has a role to play in Covid-19 testing toolbox

By: Tasneem Bulbulia     3rd April 2020 Gold is being used in new Covid-19 rapid tests around the world, which identify the presence of biomarkers from the body’s immune response to Covid-19 instead of looking for the virus itself. The tests can also help detect if a person has been infected with Covid-19 even after the virus is no... 

Gold has a role to play in Covid-19 testing toolbox

DRD consulting with govt, labour to restart Far West Rand gold recoveries 

By: Martin Creamer     3rd April 2020 Surface gold mining company DRDGold is considering re-starting operations at its Far West Gold Recoveries surface retreatment operation at Carletonville, south-west of Johannesburg, in consultation with government and organised labour. DRDGold CEO Niël Pretorius states on the company’s website... 

DRD consulting with govt, labour to restart Far West Rand gold recoveries
Photo by Creamer Media
Niël Pretorius

Covid-19 hits silver to a ten-year-plus low 

By: Martin Creamer     2nd April 2020 The coronavirus pandemic has hit silver to a ten-year-plus low, according to the Refinitiv GFMS annual Silver Market Review 2019, which includes provisional supply and demand estimates for 2020. After rising to a five-month high by late February, the silver price experienced a calamitous fall in... 

Covid-19 hits silver to a ten-year-plus low

AngloGold hands over two hospitals to authorities for Covid-19 patients 

By: Martin Creamer     2nd April 2020 Gold mining company AngloGold Ashanti has embarked on a remarkable number of humanitarian initiatives to slow the spread of the coronavirus pandemic, including making two of its mining hospitals available to the provincial governments of North West and Gauteng for the exclusive use by them to... 

AngloGold hands over two hospitals to authorities for Covid-19 patients
Kelvin Dushnisky

Indonesia nickel miners urge end to export ban to cushion coronavirus impact

By: Reuters     2nd April 2020 Indonesia should allow exports of nickel ore to help offset the impact of the fall in exports of processed nickel caused by the coronavirus outbreak, the Indonesian nickel miners' association (APNI) said in a document seen by Reuters. Indonesia, once the world's biggest nickel ore exporter,... 

De Beers CFO resigns

By: Marleny Arnoldi     2nd April 2020 Nimesh Patel will step down as CFO of diamond miner De Beers, effective July 26. Patel has resigned to join Spirax-Sarco Engineering as its CFO. Patel joined Anglo American – parent company of De Beers – in 2012 as group head of corporate finance before moving to De Beers Group to take up the... 

De Beers CFO resigns
Outgoing De Beers CFO Nimesh Patel

Centamin appoints Toro cofounder as CEO

By: Marleny Arnoldi     2nd April 2020 TSX- and LSE-listed Centamin has appointed Martin Horgan CEO, effective April 6. He succeeds Ross Jerrard, who served as interim CEO and now moves to the position of CFO. The company further advises that COO Jeremy Langford resigned from his position to pursue other interests. Horgan is a... 

Centamin appoints Toro cofounder as CEO
Incoming Centamin CEO Martin Horgan

Centerra reduces Mt Milligan mill production

By: Creamer Media Reporter      2nd April 2020 Canadian miner Centerra Gold will reduce its workforce and cut its mill throughput to 50 000 t/d for a two-week period, starting on April 6. The company explains that the remote mine has a large camp accommodation facility where substantially all of the on-site employees reside while on their... 

All Antofagasta mines to be powered by renewables at lower cost

By: Martin Creamer     1st April 2020 All of the electricity of the mining division of the London-listed Chile-based Antofagasta plc will from 2022 be from renewable sources at lower cost. This follows the signing by Antofagasta’s Centinela copper mine of a new power purchase agreement with Engie Energía Chile, effective from 2022... 

All Antofagasta mines to be powered by renewables at lower cost
Antofagasta CEO Iván Arriagada

Central Asia Metals’ results demonstrate company’s ‘fundamental strength’

By: Simone Liedtke     1st April 2020 Copper, zinc and lead production and exploration company Central Asia Metals’ (CAML’s) results for the year ended December 31, demonstrate the “fundamental strength” of the business, which owns two low-cost base metals operations, one in Kazakhstan and the other in North Macedonia. CEO Nigel... 

Vast community JV delayed by Covid-19 lockdown

By: Tasneem Bulbulia     1st April 2020 Aim-listed Vast Resources has noted that all internal processes leading to the conclusion to the Chiadzwa Community Joint Venture (JV), which were expected to be finalised during March, have not completed during the month. This is owing to the Zimbabwe government having declared a 21-day lockdown... 

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