R/€ = 18.40 Change: 0.05
R/$ = 15.24 Change: 0.22
Au 1813.35 $/oz Change: 19.68
Pt 990.36 $/oz Change: 3.47

Europe News

Ivanhoe secures funding to buy underground mining equipment for Kamoa-Kakula

By: Creamer Media Reporter      1st December 2020 Kamoa Holding, the joint venture (JV) company holding the Kamoa-Kakula copper project, in the Democratic Republic of Congo, has secured an equipment financing facility of up to €176-million (about $211-million), along with a $9-million down-payment facility. The two facilities will be used to buy... 

New hydrogen investment by PGMs-linked venture fund bodes well for South Africa 

By: Martin Creamer     1st December 2020 A new investment in hydrogen, made by the sustainability-focused AP Ventures, bodes well for South Africa. AP Ventures, an independent venture capital fund that invests in early-stage companies that use platinum group metals (PGMs), has invested €5-million equity in HPNow, which has introduced a... 

New hydrogen investment by PGMs-linked venture fund bodes well for South Africa
Building back better with green hydrogen peroxide.

Nornickel to sell less palladium, nickel than it produces in 2020 - head of sales

By: Reuters     1st December 2020 Russia's Norilsk Nickel will sell slightly less nickel and palladium than it produces in 2020 as the Covid-19 pandemic reduced industrial demand, the world's leading producer of the two metals told Reuters. Demand has risen in some sectors since a slump caused by the first wave of the pandemic... 

First gold comes out of Scotland's Cononish mine

By: Mariaan Webb     1st December 2020 London-listed Scotland Resources has poured first gold at its Cononish gold and silver mine, marking a significant milestone on its path to becoming Scotland’s first commercial gold mine. Production at Cononish, in the Scottish Grampian mountains, will ramp up to design level early in the New... 

First gold comes out of Scotland's Cononish mine

Metal prices expected to average higher in 2021 amid recovery from Covid-19 – Fitch Solutions

By: Donna Slater     1st December 2020 Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) expects miners and metal producers to experience a more favourable pricing environment in 2021 with nearly all mineral and metal prices forecast to average higher on a... 

Glencore’s takeover of Orsted LNG effective

By: Marleny Arnoldi     1st December 2020 Diversified miner Glencore on December 1 completed the acquisition of Danish multinational power company Orsted’s liquefied natural gas (LNG) business. Under the terms of the transaction, Glencore’s oil division has taken over a number of LNG supply contracts, as well as the right to use... 

Glencore’s takeover of Orsted LNG effective
Photo by Bloomberg
LNG carrier

De Beers sets goal to become carbon-neutral by 2030 

By: Donna Slater     1st December 2020 Diamond miner De Beers on November 30 launched its 12 Building Forever goals, which focus on ethical practices across the diamond industry, partnering to boost communities, putting in place structures to protect the natural world and accelerating equal opportunity. The 12 “ambitious”... 

De Beers sets goal to become carbon-neutral by 2030
De Beers Group CEO Bruce Cleaver

Rio Tinto faces threat of legal action from investor in Mongolian project

By: Reuters     1st December 2020 Rio Tinto said on Tuesday that it would not offer any comment in response to a threat of legal action from the largest minority shareholder in its Mongolian copper project Oyu Tolgoi. Rio Tinto operates what is slated to become the world's third-largest copper mine which is jointly owned by the... 

Rio Tinto faces threat of legal action from investor in Mongolian project

Lundin copper output to rise by 25% next year

By: Mariaan Webb     1st December 2020 Base metals producer Lundin Mining is forecasting a big jump in copper production next year, driven by higher grades at the Candelaria mine and full-year uninterrupted contributions from Candelaria and Chapada. The Toronto-listed miner said that its copper production should increase by 25% in... 

Lundin copper output to rise by 25% next year

Botswana Diamonds completes acquisition of Sekaka

By: Tasneem Bulbulia     30th November 2020 Dual-listed Botswana Diamonds' (BOD’s) acquisition of Sekaka Diamonds has been completed. Sekaka was Petra’s exploration vehicle in Botswana and holds three prospecting licences in the Central Kalahari Game Reserve in Botswana − PL169/2019, PL058/2007 and PL224/2007, which includes the high-grade... 

Mkango announces grant-funded project for recycling audio products’ rare earths

By: Marleny Arnoldi     30th November 2020 Aim-listed Mkango Resources has announced that its indirect subsidiary HyProMag and partners, European Metal Recycling (EMR) and the University of Birmingham, have been awarded a grant by the Industrial Strategy Challenge Fund, delivered by UK Research and Innovation, for a new project called... 

Bushveld draws down $30m for capital investment purposes

By: Simone Liedtke     30th November 2020 Aim-listed Bushveld Minerals has satisfied the conditions to draw down $30-million under a production financing agreement (PFA) and the unsecured convertible loan notes of $35-million, to be subscribed by Orion Mine Finance. First announced in September, the company is in the process of drawing... 

Mining can retake investor darling status by going green – Frandsen  

By: Martin Creamer     30th November 2020 The taking of clear sustainability steps can make mining the darling of the investor community once again. Mining cannot participate in anything that leaves the world a worse place and needs to be cognisant of what it takes to have a licence to operate. Mining must have a smaller carbon... 

Mining can retake investor darling status by going green – Frandsen
Pallinghurst Group Managing Partner and Co-Founder Arne Frandsen interviewed by Mining Weekly’s Martin Creamer on the current demand for sustainable mining. Video: Darlene Creamer.

Field narrows for global miner Rio Tinto's top job

By: Reuters     30th November 2020 Rio Tinto will look to a handful of external candidates in a narrowing field for its new chief executive, as the miner tries to win back investors dismayed by the blasting of an ancient Australian rock shelter, bankers and investors say. The top priority for a new CEO will be strong stakeholder... 

Field narrows for global miner Rio Tinto's top job
Jean-Sebastien Jacques

Highland Gold’s Alexandrov takes top job at Petropavlovsk

By: Mariaan Webb     30th November 2020 Russian miner Petropavlovsk has appointed Denis Alexandrov CEO, the London-listed gold company announced on Monday. Alexandrov joins Petropavlovsk from Russian gold producer and developer Highland Gold Mining, where he was CEO since January 2016. He takes over from Maxim Meshcheryakov, who was... 

Highland Gold’s Alexandrov takes top job at Petropavlovsk

Southern Gold prices South Korean assets

By: Esmarie Iannucci     30th November 2020 Junior Southern Gold has set a sales price of $.9.94-million for its 50% joint venture (JV) interests in the Gubong and Kochang gold projects, in the Republic of Korea. The company previously announced plans to divest of its interest in the two gold projects, with JV partner Bluebird Merchant... 

Platina completes Skaergaard sale

By: Esmarie Iannucci     30th November 2020 ASX-listed Platina Resources on Monday told shareholders that it would ramp-up its hunt for gold in Western Australia after completing the a$13.7-million divestment of its Skaergaard gold and palladium project, in Greenland, to Canadian-listed Major Precious Metals Corp. The junior company has... 

Swiss firms narrowly avoid 'Responsible Business' liability as vote divides nation

By: Reuters     30th November 2020 Swiss firms narrowly avoided facing greater liability for human rights and environmental abuses on Sunday after a national vote rejected the proposal due to regional differences despite it winning majority popular support. In a divisive referendum, 50.7% of Swiss voters supported proposals by... 

Weekly Coal Index Report

30th November 2020 The legendary fourth-quarter coal price rally is back with a vengeance. Most coal markets saw exceptionally bullish, almost Bitcoin-like, price rallies last week. It seems one can’t blame it on the British either, for firing up some of their old coal plants again to stabilise their power grid... 

Weekly Coal Index Report

Katoro receives funding interest for Blyvoor gold tailings project

By: Tasneem Bulbulia     30th November 2020 Aim-listed Katoro Gold has received expressions of interest for funding of an amount significantly more than the peak funding requirement of $36.4-million for the company's Blyvoor joint venture (JV) in respect of the Blyvoor gold tailings project.  The expressions of interest for funding... 

Copper hits seven-year high as demand hopes build

By: Bloomberg     27th November 2020 Copper rallied for a fourth day to reach a seven-year high, adding to this week’s powerful surge across base metals on hopes for a post-pandemic demand boom. The metal, which is used in everything from household wiring to electric vehicles, is gaining on optimism that the worst of the global... 

Davenport raises $10m for German potash projects

By: Mariaan Webb     27th November 2020 Australia-listed Davenport Resources has received firm commitments for a placement of new securities to a range of sophisticated and institutional investors to raise a total of $10-million. The capital raising will ensure that Davenport is well funded to advance its portfolio of four standalone... 

Rainbow raises £2.56m for drilling, testwork and trial mining on two projects

By: Marleny Arnoldi     27th November 2020 London-listed rare earths producer Rainbow Rare Earths has conditionally issued about 43-million new ordinary shares at a price of 6p apiece, thereby raising gross proceeds of £2.56-million. The company will use the proceeds for general working capital purposes, including an initial $250 000... 

Climate-driven surge in scrap use could slash primary metal demand - Woodmac 

By: Reuters     27th November 2020 A surge in the use of scrap metal due to strict environmental policies could slash global demand for primary aluminium by almost half and cut demand for primary copper and iron by more than a third by 2040, Wood Mackenzie said on Thursday. In a report on the future of mining, the consultancy... 

Edenville warns of potential capital constraints

By: Marleny Arnoldi     27th November 2020 Aim-listed Edenville is nearing the maturity of a funding agreement it signed with Lind Partners in November 2018 for $580 000. The company advised in a statement published on November 27 that it had entered into discussions with Lind on repayment terms.  

Kazatomprom posts 138% jump in third-quarter profit

By: Reuters     27th November 2020 The world's biggest uranium miner Kazatomprom on Friday posted a 138% jump in third-quarter profit on the back of soaring sales and higher prices. Kazatomprom's profit rose to 90.675-billion tenge ($214-million) from 38.026 billion tenge a year earlier. The company this month said that quarterly... 

New chrome mine owner plans to grow in ‘very sustainable manner’ 

By: Martin Creamer     27th November 2020 The new owner of a chrome mine in North West province that was placed on care and maintenance following the Covid-19 lockdown, plans to grow production in a phased, sustainable manner that will ultimately lead to the creation of more than 1 000 jobs, Mining Weekly can today report. The... 

New chrome mine owner plans to grow in ‘very sustainable manner’
Photo by Creamer Media
Highly experienced Clover Alloys CEO Philip Kotze

Anglo opens Covid-19 testing lab in Zambia

By: Marleny Arnoldi     26th November 2020 Diversified miner Anglo American has opened a Covid-19 testing laboratory in Solwezi, Zambia, close to its mineral exploration activities in the country. The miner says the lab was built to support the Zambian government’s efforts to increase testing capacity in the country’s North-Western... 

Business rights or human rights? Swiss vote shines spotlight on companies

By: Reuters     26th November 2020 A billboard of a runny-nosed, dour-faced girl framed by Glencore's sprawling zinc mine in Peru greets commuters at Zurich's main train station with an ominous slogan: "Water contaminated. Child poisoned. Commodities firm liable." As the only large mining firm based in Switzerland, Glencore has... 

Business rights or human rights? Swiss vote shines spotlight on companies

Nornickel moves to improve enviro risk management

By: Mariaan Webb     26th November 2020 Russia’s Nornickel, the world’s largest producer of palladium and high-grade nickel, has launched an environmental risk management review in order to identify and better manage new climate change risks that are emerging. The announcement of a risk management review follows an independent report... 

Nornickel moves to improve enviro risk management
Norilsk chairperson Gareth Penny

Polymetal buys stake in Cyprus explorer

By: Creamer Media Reporter      26th November 2020 Precious metals miner Polymetal has agreed to buy a 22.5% stake in Cyprus-focused explorer Chesterfield. The London-listed company would invest £2.1-million in Chesterfield. This was in line with Polymetal's strategy to invest in mining companies in its regions of operation, and increase its... 

Palladium-dominant Waterberg project's advance is primary objective –­ PTM 

By: Martin Creamer     26th November 2020 The advancement of the palladium-dominant Waterberg Project to a development and construction decision is the primary business objective of Platinum Group Metals (PTM), for which construction funding and concentrate offtake arrangements are being pursued. The Toronto- and New York-listed company,... 

Palladium-dominant Waterberg project's advance is primary objective –­ PTM
Platinum Group Metals CEO Michael Jones.

IronRidge records positive metallurgical test results at Ewoyaa

By: Tasneem Bulbulia     25th November 2020 Aim-listed IronRidge Resources has reported additional “very positive” metallurgical test results from the Ewoyaa project within its Cape Coast lithium portfolio in Ghana, West Africa. Additional test work has been completed to improve lithium recoveries in coarse grained type P1 and finer... 

Platinum council says hydrogen momentum will continue to bolster PEM demand

By: Marleny Arnoldi     25th November 2020 This week has seen the launch of the first-ever European Hydrogen Week from November 23 to 27, a series of events showcasing the key role hydrogen is expected to play in reaching the European Union’s (EU) “European Green Deal” objectives. The proposed European Green Deal, announced at the end... 

Miners reiterate support for shift to cleaner vehicles 

By: Mariaan Webb     25th November 2020 The mining industry is making progress on a shift to cleaner, safer vehicles, as collaboration between the International Council on Mining and Metals (ICMM) and original equipment manufacturers (OEMs) gains momentum. Under the ICMM’s Innovation for Cleaner, Safer Vehicles (ICSV) initiative, the... 

Anglo praised for blazing decarbonised mining trail with hydrogen truck project  

By: Martin Creamer     25th November 2020 The electrolyser that will generate renewable hydrogen for the world’s largest hydrogen fuel cell electric vehicle project has been delivered to site by Nel Hydrogen Electrolyser AS, as part of the joint partnership with ENGIE and Anglo American, announced last year. ENGIE is providing the... 

Anglo praised for blazing decarbonised mining trail with hydrogen truck project
Nel Hydrogen Electrolyser Senior Vice President Business Development David Bow interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Petra's Letlapa Tala Collection sells for $40.36m

By: Creamer Media Reporter      25th November 2020 Following a competitive tender process, Petra Diamonds has sold the Letlapa Tala collection of five blue diamonds, weighing 85.6 ct in total, to a partnership between De Beers and Diacore for $40.36-million. “The result of this special tender affirms the very high value placed on blue diamonds,... 

Petra's Letlapa Tala Collection sells for $40.36m

African green hydrogen can provide important economic impetus – BMBF 

By: Martin Creamer     24th November 2020 The establishment of an African hydrogen economy based on renewable energy can provide important impetus in the Southern African region and offer new perspectives, especially to young people. That is the view of German Federal Ministry of Education and Research (BMBF) Energy and Green Hydrogen... 

African green hydrogen can provide important economic impetus – BMBF
Federal Research Minister Anja Karliczek and Innovation Commissioner ‘Green Hydrogen‘ Dr Stefan Kaufmann: Small bottle, huge effect. Sufficient energy to supply a refrigerator for a day – 48 litres of hydrogen are bound in this 80 ml liquid, referred to as liquid organic hydrogen carrier or LOHC. Dr Kaufmann was in South Africa earlier this month. © BMBF/Hans-Joachim Rickel
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