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Europe News
Hochschild halts operations in Peru after virus outbreak
By: Simone Liedtke Updated 2 hours 10 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... →
Cora records notable results in Mali, Senegal
By: Tasneem Bulbulia Updated 2 hours 28 minutes ago West Africa-focused Cora Gold has recorded notable results from ongoing exploration programmes from its regional portfolio of permits in west Mali and Senegal. Results from exploration programmes continue to enhance the permits’ prospectivity and identify new drill targets, the company says. →
Air Products and thyssenkrupp sign green hydrogen agreement
By: Schalk Burger Updated 2 hours 57 minutes ago NYSE-listed industrial gases multinational Air Products and industrial technology multinational thyssenkrupp on July 5 announced that they had signed an exclusive strategic cooperation agreement to develop world-scale electrolysis plants to generate green hydrogen. The two companies will... →
Fortuna suspends Caylloma operations for two weeks
By: Simone Liedtke Updated 2 hours 59 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 4 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... →
Australia's Prospect Resources picks adviser for sale of Zimbabwe lithium mine
By: Reuters Updated 4 hours ago Australian-listed Prospect Resources said on Monday it had picked Renaissance Securities Capital as its exclusive financial advisor for the possible sale of shares in Zimbabwe's Arcadia Lithium mine to Russian energy firm Uranium One. Uranium One, a unit of Russia's state-owned nuclear energy... →
Pensana Rare Earths lists on LSE
By: Simone Liedtke 6th July 2020 ASX-listed Pensana Rare Earths started trading on the LSE on July 6. The company has more than 188.2-million ordinary shares in issue and is not raising any funds. Chairperson Paul Atherley says the $16-trillion post-Covid stimulus programmes that have been announced globally are “transforming... →
Displacement continuing at copper mine where openpit give way is imminent 
By: Martin Creamer 6th July 2020 Vertical and horizontal displacement is continuing at the Nchanga Open Pit Cut 2 in Chingola in Zambia, where geo-technical assessments point to an imminent collapse of a portion of the open pit – but the anticipated slough had not happened by late Sunday when Mining Weekly spoke by phone to... →
Konkola Copper Mines CEO Chris Sheppard.
Epiroc aims to halve carbon dioxide emissions in operations as part of 2030 goals
By: Schalk Burger 3rd July 2020 Mining and infrastructure equipment multinational Epiroc this week released its 2030 sustainability goals, which include halving carbon dioxide emissions from operations, transport and major suppliers, as well as from customers’ use of Epiroc equipment. "These are challenging targets, but we will... →
Reliable connectivity essential for effective IoT
By: Schalk Burger 3rd July 2020 A global study conducted by satellite communications multinational Inmarsat found that only 15% of mining organisations consistently have access to reliable connectivity for their Internet of Things- (IoT-) enabled projects. Inmarsat’s research programme into IoT trends 'The Rise of IoT in... →
Moon metals discovery aids development of lunar formation theories
By: Rebecca Campbell 3rd July 2020 Scientists using data from the US National Aeronautics and Space Administration’s (Nasa’s) Lunar Reconnaissance Orbiter (LRO) spacecraft have discovered evidence that the Moon might, underneath its surface, be richer in metals (such as iron and titanium) than had previously been believed. Nasa is... →
Reopening of economies boosting metals prices
By: Marleny Arnoldi 3rd July 2020 Since lockdown measures have started to ease around the world to contain Covid-19, ratings and research agency Standard & Poor’s Global (S&P Global) says the reopening of economies, combined with monetary stimulus by banks and governments, has allowed industrial metal prices to rise. However,... →
Czech coal miner OKD shuts mines for 6 weeks after virus outbreak
By: Reuters 3rd July 2020 Czech State-owned hard coal mining group OKD will shut all its mining operations for six weeks from Friday as it battles an outbreak of coronavirus infections, it said on Thursday. The mines, in the country's east near the Polish border, have been the Czech Republic's main hot spot of new cases... →
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... →
Armadale submits mining licence application for Mahenge
By: Marleny Arnoldi 2nd July 2020 Aim-listed Armadale Capital has submitted its mining licence application to the Tanzanian Department of Energy on Minerals for its wholly-owned Mahenge Liandu graphite project. This marks another significant step in the development of the project, says chairperson Nick Johansen. →
Nornickel board sets up environmental task team in wake of Arctic spill
By: Mariaan Webb 2nd July 2020 Global palladium and high-grade nickel leader Nornickel has created an independent environmental task team of the board of directors to monitor progress in the Russian major’s environmental programmes. The management team included Andrey Bougrov as Nornickel’s senior VP, who will oversee the... →
Power Metal records update at Alamo in the US
By: Tasneem Bulbulia 2nd July 2020 Aim-listed Power Metal Resources has completed the registration of the additional claims at its Alamo gold project in Arizona, in the US. The follows a previous update where the company confirmed that following a successful site visit in January, its local partner had completed the staking of... →
Pandemic helps Russia tighten its grip on a key strategic metal
By: Bloomberg 2nd July 2020 As the coronavirus pandemic pummeled demand from key customers in the auto industry, Russia’s biggest mining company quietly tightened its grip on the palladium market. MMC Norilsk Nickel was already the No. 1 miner of the metal used in autocatalysts, but the crisis has allowed it to gain market... →
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... →
Commodity freighters are shrugging off Covid-19. For now
By: Bloomberg 1st July 2020 The cost of moving commodities like coal and iron-ore across the world’s oceans is surging as China lifts cargo purchases. Whether the rally will withstand the economic aftershocks of the coronavirus is a thornier question. Rates for giant capesize ships climbed to almost $31 000 a day on... →
Eurasia Mining puts itself up for sale
By: Mariaan Webb 1st July 2020 London-listed Eurasia Mining, which operates platinum group metals (PGM) and gold mines in Russia, has started a formal sale process under the UK Takeover Code. UBS Investment Bank in London has been appointed its leading financial adviser to assist in a review of its strategic options. The... →
Swedish Stirling, Samancor sign MoU for clean energy tech at smelters
By: Tasneem Bulbulia 1st July 2020 Clean tech company Swedish Stirling and South African ferrochrome producer Samancor Chrome have entered into a memorandum of understanding regarding the possible installation of up to 135 PWR BLOKs at Samancor Chrome’s TC Smelter, Ferrometals and Tubatse Alloys smelters. On December 13, 2019,... →
Finland-focused Karelian Diamonds says Rio Tinto agreement lapses
By: Creamer Media Reporter 1st July 2020 Aim-listed Karelian Diamonds said on Wednesday that a confidentiality agreement that it entered into with Rio Tinto Mining and Exploration in 2010, had lapsed. Under the agreement, Rio Tinto has been disclosing to Karelian confidential information relating to exploration in Finland for the... →
Sylvania extends share buyback programme deadline to September
By: Simone Liedtke 1st July 2020 Aim-listed Sylvania Platinum has acquired 172 884 ordinary shares, which represents about 0.06% of the company’s issued share capital, between June 1, 2019, and June 30, this year. This relates to its planned buyback of over 1.6-million ordinary shares from all certificated non-UK shareholders... →
Bullion platinum investment at an all-time high, says WPIC
By: Marleny Arnoldi 1st July 2020 The World Platinum Investment Council (WPIC) reports that sales of platinum bullion products – retail bars and coins – surged to record highs in the first quarter of the year, with purchases totalling 312 000 oz. Annualised, this represents a rate that is five times higher than that experienced... →
Metso Outotec can drive industries towards responsible use of natural resources
By: Marleny Arnoldi 1st July 2020 Metso Minerals, a subsidiary of global industrial company Metso, has officially merged with Finnish-listed technology company Outotec. The merger has formed a leading process technology, equipment and services company serving the minerals, metals and aggregates industries. The combined company... →
After taking out $1 800, gold investors focus on Fed’s next step
By: Bloomberg 1st July 2020 Fresh from cracking $1 800/pz, the global gold market wants to know what the Federal Reserve may do next to rescue the US economy, with minutes due later on Wednesday that may shed light on the central bank’s willingness to embrace yield curve control. Futures held near the highest in more than... →
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... →
Prairie armed for legal battle
By: Esmarie Iannucci 1st July 2020 Coal developer Prairie Mining has secured A$18-million in litigation funding with LCM Funding UK to pursue damages claims in a dispute with the Polish government. Prairie in February last year served a notice of dispute on the Polish government, requesting that the government formally engage... →
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... →
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... →
SolGold moves to buy Ecuador mine partner Cornerstone
By: Mariaan Webb 30th June 2020 Dual-listed SolGold on Tuesday announced that it had formally commenced an offer to acquire the issued and outstanding shares of Ecuadorian mine partner Cornerstone Capital, inviting that company’s shareholders to be “part of an exciting plan”. SolGold presented an all-stock transaction of 11 of... →
Egypt says gold deposit discovered in southeast
By: Reuters 30th June 2020 Egypt's Ministry of Petroleum and Mineral Resources said on Tuesday a gold deposit with estimated resources of one-million ounces had been discovered in the southeast of the country. The deposit lies in the concession area of the military-controlled Shalateen Mining Company in the Eastern... →
Greenland gold miner AEX Gold eyes London listing
By: Reuters 30th June 2020 AEX Gold, a gold exploration and mining company focused on Greenland, said on Tuesday it plans an initial public offering (IPO) in London next month. AEX said it would seek admission to the London Stock Exchange's small company sub-market, AIM, and conduct a placement of common shares to raise... →
Kefi Minerals to change name, updates Tulu Kapi economics given higher gold price
By: Marleny Arnoldi 30th June 2020 Aim-listed Kefi Minerals has announced it will host its annual general meeting virtually on August 13. The meeting will discuss a name-change of the company to Kefi Gold and Copper, to reinforce the company’s mission in those metals, given the discoveries that the company has made in the last... →
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