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Harmony achieves better than expected output levels, notes gold price benefits 

By: Donna Slater     Updated 3 hours ago Despite Covid-19 disruptions to its operations, Harmony Gold Mining Company managed to achieve up to 75% of planned production during the last quarter of the its financial year to June 30, which was higher than it initially expected to achieve. However, year-on-year, total gold production was... 

Harmony achieves better than expected output levels, notes gold price benefits
Photo by Creamer Media
Harmony's Kusasalethu mine

Gold collapses below $1 900 as rout extends into the second day 

By: Bloomberg     12th August 2020 Gold’s rout is not yet done. Prices sank below $1 900/oz on Tuesday, extending the precious metal’s slump into a second day after the haven lost more than 5% in the week’s opening session. After setting a record above $2 000/oz last week, gold’s rally has come to a juddering halt as US bond... 

Newmont appoints ABB for mine hoist installation at Tanami mine

By: Marleny Arnoldi     12th August 2020 NYSE-listed Newmont Corporation has commissioned global technology company ABB to design, supply, install and provide long-term service for the mine hoist mechanical and electrical systems, for the mine shaft at the Tanami mine, in Australia. ABB’s $17-million contract is part of Newmont’s... 

Minerals Council welcomes Mantashe's withdrawal of appeal to SCA  

By: Tasneem Bulbulia     Updated 5 hours ago The Minerals Council South Africa has welcomed Minerals Resources and Energy Minister Gwede Mantashe's decision to withdraw his notice of appeal to the Supreme Court of Appeal in respect of a declaratory order issued in April 2018 by the High Court of South Africa (Gauteng Division). The... 

Minerals Council welcomes Mantashe's withdrawal of appeal to SCA
Photo by Creamer Media
Mineral Resources and Energy Minister Gwede Mantashe

Transnet CEO expects subdued commodity prices to weigh on recovery from Covid 

By: Terence Creamer     12th August 2020 Transnet CEO Portia Derby warned on Wednesday that the recovery from the Covid-19 pandemic in South Africa and the rest of Africa was likely to be negatively affected by still-subdued commodity prices and the serious deterioration in public finances across the continent, which had resulted in... 

Transnet CEO expects subdued commodity prices to weigh on recovery from Covid
Transnet CEO Portia Derby

Despite Covid-induced demand slump, load-shedding surpasses 2019 levels and risk of more cuts rises 

By: Terence Creamer     Updated 3 hours ago The Council for Scientific and Industrial Research (CSIR) reported on Wednesday that load-shedding during 2020 had already surpassed that of 2019, which had hitherto been the country’s worst-ever year for load-shedding. In addition, it again warned that, absent urgent action, the risk of... 

Despite Covid-induced demand slump, load-shedding surpasses 2019 levels and risk of more cuts rises

Northam expects record operating profit despite output losses

By: Marleny Arnoldi     12th August 2020 JSE-listed Northam Platinum expects to achieve a record operating profit for the financial year ended June 30. Normalised headline earnings per share (HEPS) should be between 562c and 621c, compared with normalised HEPS of 270c reported for the year ended June 30, 2019.  

Northam expects record operating profit despite output losses
Northam Platinum CEO Paul Dunne

South African Reserve Bank approves MC Mining's equity raise

By: Marleny Arnoldi     12th August 2020 The South African Reserve Bank has approved coal miner MC Mining’s issue of 13.3-million new share to raise a collective R15-million, or $900 000. The new equity is being issued at a price of 105.56c apiece.  

Second-quarter production at Xtract's Manica Concession rises, production costs fall

By: Donna Slater     Updated 4 hours ago Total contractor-mined alluvial gold ore produced at Xtract Resources' Manica Concession in Kabwe, Mozambique, increased from 467 oz in the first quarter to 566 oz in the second quarter of this year. Production was, however, down from the 1 045 oz produced in the last quarter of 2019. 

From carats to peanuts: how a pandemic upended the global diamond industry

By: Reuters     Updated 5 hours ago As the coronavirus pandemic upended the global diamond industry, shuttering mines from Lesotho to Canada and disrupting supply chains, Rajen Patel swapped diamond polishing for peanut farming. Patel, who worked for a decade in India’s Surat where about 80% of the world’s diamonds are polished,... 

From carats to peanuts: how a pandemic upended the global diamond industry

Palladium to shift from deficit to balanced market this year – Nornickel

By: Mariaan Webb     Updated 6 hours ago Russia’s Norilsk Nickel (Nornickel), the world’s largest producer of palladium and high-grade nickel, expects the palladium market to be balanced this year, citing an “unprecedented” contraction of end-use demand as the automotive industry faces its worst crisis in decades. This will be the... 

Palladium to shift from deficit to balanced market this year – Nornickel

Total oil, gas drill rig arrives in Cape Town

By: Marleny Arnoldi     Updated 3 hours ago Mineral Resources and Energy Minister Gwede Mantashe has welcomed the arrival of the DeepSea Stavanger oil and gas drill rig, in Cape Town, which has been commissioned by petrochemicals company Total. Total and its partners will drill the Luiperd prospect in Block 11B/12B off the Mossel Bay... 

Altus progresses Moroccan silver/copper project

By: Donna Slater     Updated 7 hours ago Aim- and TSX-V-listed African mining royalty generator Altus Strategies has reached key milestones in the development of its 100%-owned Agdz silver/copper project in Morocco. The 59.7 km2 Agdz project, which comprises four contiguous licence blocks in the Souss-Massa-Drâa region of the... 

Galileo kicks off with Kalahari Copper Belt exploration

By: Donna Slater     Updated 7 hours ago London-listed copper and zinc miner Galileo Resources has approved the start-up of exploration on its 100%-held highly prospective Kalahari Copper Belt (KCB) licences PL40/2018 and PL39/2018 in western Botswana. The exploration is aimed at defining targets for initial drill testing.  

Codelco sees quick progress in ramping up Chuquicamata copper processing

By: Reuters     Updated 1 hour 20 minutes ago Chile's State-run miner Codelco, the world's largest copper producer, expects quick progress in ramping up processing capacity at its Chuquicamata underground project, the company's chief executive said. Codelco was forced to temporarily suspend work at the project, designed to extend the life... 

Codelco sees quick progress in ramping up Chuquicamata copper processing

Russia has $1.5bn plan to dent China's rare earth dominance

By: Reuters     Updated 4 hours ago Russia plans investment of $1.5-billion in rare earth minerals, critical to the defence, telecommunications and renewable energy sectors, as it strives to become the biggest producer after China by 2030, a top government official told Reuters. Russia's initiative is in line with other countries,... 

Aluminium sector struggles to adopt common standards to cut emissions

By: Reuters     Updated 5 hours ago The aluminium industry, one of the metals sector's largest emitters of greenhouse gas, is struggling to adopt common standards on greener processing as rivals focus on promoting their own products rather than the wider green market. Multiple initiatives are seeking to set low-carbon benchmarks... 

Aluminium sector struggles to adopt common standards to cut emissions
Rusal's Khakas aluminium smelter.

Argent raises exploration funds

By: Esmarie Iannucci     12th August 2020 Junior Argent Minerals will raise A$2.2-million through a share placement to sophisticated and professional investors to fast-track resource drilling in New South Wales. The company on Wednesday announced that it would issue 40-million fully paid ordinary shares, at a price of 5.5c each, with... 

Another offtake agreement at Lake Wells

By: Esmarie Iannucci     12th August 2020 ASX-listed Australian Potash has inked its fourth offtake agreement at its Lake Wells project, in Western Australia. The company on Wednesday announced that it had signed a binding term sheet with partner HELM AG for the supply of 30 000 t/y of premium sulphate of potash (SOP) from the Lake... 

Argonaut expects significant free cash flow in H2

By: Mariaan Webb     12th August 2020 North American intermediate gold producer Argonaut Gold, which last month closed the acquisition of Alio Gold, is forecasting significant free cash flow in the second half of the year, CEO Pete Dougherty said on Tuesday. At $1 900/oz, the company would generate between $49-million and... 

Horizonte tasks five banks to arrange $325m for Araguaia

By: Mariaan Webb     12th August 2020 Aim- and TSX-listed Horizonte Minerals has executed a mandate to arrange a senior project finance facility of up to $325-million to fund the construction and development of its Araguaia ferronickel project, in Brazil. A syndicate of five international financial institutions, including BNP... 

Horizonte tasks five banks to arrange $325m for Araguaia
Trial mining at Araguaia, Brazil.

Resources Watch  

12th August 2020 This week: High-flying, dividend-talking RBPlat going into second half with tailwinds; and, Platinum continuing to attract strong investor interest 

Hudbay posts $51.9m quarterly loss as Peru suspension weighs

By: Mariaan Webb     12th August 2020 The eight-week suspension of operations at the Constancia mine, owing to Covid-19 measures in Peru, had a significant impact on gold and base metals miner Hudbay Minerals’ second-quarter results, with the company posting a $51.9-million, or $0.20 a share, net loss. After adjusting for the impact... 

Palmer to sue if new legislation is passed in WA

By: Esmarie Iannucci     12th August 2020 Queensland-based mining personality Clive Palmer has threatened legal action against the Western Australian government should its Parliament pass extraordinary legislation that could prevent the miner from claiming damages related to the Balmoral South iron-ore project. Western Australia’s... 

Palmer to sue if new legislation is passed in WA

Ridley gets an FID

By: Esmarie Iannucci     12th August 2020 A final investment decision has been taken on the Riley iron-ore mine, in Tasmania, with project owner Venture Minerals preparing to start dry screening operations. “The board has given the go-ahead to proceed with the dry screening operations reaching another important milestone as the Riley... 

Fire halts Red Lake production

By: Esmarie Iannucci     12th August 2020 Gold miner Evolution Mining has been forced to evacuate staff and temporarily suspend operations at its Red Lake gold mine, in Ontario, due to the threat of a nearby forest fire. The miner on Wednesday said that there has been no damage to any of the infrastructure at the operation and that all... 

IPC approves Vickery project

By: Esmarie Iannucci     12th August 2020 The New South Wales Independent Planning Commission has given consent for ASX-listed Whitehaven Coal’s Vickery Extension project. The A$700-million project has been cleared to extract a maximum of 13-million tonnes a year run-of-mine coal, over a 25-year mine life, with Whitehaven allowed to... 

Regis buys Ben Hur

By: Esmarie Iannucci     12th August 2020 Gold miner Regis Resources has struck a A$10-million deal with fellow-listed Stone Resources to acquire the Ben Hur gold project, in Western Australia. Under the terms of the agreement, Regis would pay A$10-million worth of its own shares, priced on the basis of the five-day volume weighted... 

Exploration targets two new mineral corridors in Australia

By: Esmarie Iannucci     12th August 2020 The federal government this week said that two new corridors stretching the length of the nation would be the focus of the A$125-million expansion of the Exploring for the Future programme. The additional A$125-million investment into the programme was announced in late June as part of the... 

Exploration targets two new mineral corridors in Australia

Isaac Downs gets prescribed status

By: Esmarie Iannucci     12th August 2020 The Queensland government has declared the A$90-million Isaac Downs coal project a prescribed project, with project construction slated to start as early as 2021, pending necessary approvals. Minister for Regional Development Glenn Butcher said the project, being developed by ASX-listed Stanmore... 

Gold heads for biggest drop since 2013 with risk appetite rising

By: Bloomberg     11th August 2020 Gold headed for the largest downturn in seven years as risk appetite gained after a proposed US tax cut and a rise in bond yields. Stocks climbed after US President Donald Trump said he’s considering a tax cut on capital gains. That’s reduced demand for gold as a haven, helping notch a third day... 

Gold heads for biggest drop since 2013 with risk appetite rising

Facebook Africa director, former TCTA boss join Ivanhoe board

By: Creamer Media Reporter      11th August 2020 Toronto-listed Ivanhoe Mines has appointed two women, each with more than 25 years’ business experience with Africa-based companies to its board as independent directors. Nunu Ntshingila, regional director of Facebook Africa, and Martie Janse van Rensburg, former CEO of Trans Caledon Tunnel... 

Barrick says more noncore disposals to come

By: Mariaan Webb     11th August 2020 Canada’s Barrick Gold has met the $1.5-billion disposal target it had set in 2018 and CEO Mark Bristow said this week that the group could shed more noncore assets, particularly in the current gold price environment. “The higher gold price turns some of our smaller assets within our portfolio... 

Barrick says more noncore disposals to come
Barrick last year sold its 50% interest in Kalgoorlie Consolidated Gold Mines, which owns Super Pit (pictured).

High-flying Barrick Gold opens up exploration front in Japan 

By: Martin Creamer     11th August 2020 High-flying Barrick Gold has established a gold exploration joint-venture front in Japan. “Japan has opened up its mining and exploration legislation for the first time since the war,” Barrick Gold CEO Dr Mark Bristow told Mining Weekly on Tuesday. 

High-flying Barrick Gold opens up exploration front in Japan
Dr Mark Bristow

Segilola mine development remains on track

By: Tasneem Bulbulia     11th August 2020 TSX-listed Thor Explorations has noted that concrete has been poured at its Segilola mine's processing plant site, while construction and procurement are progressing on schedule and on budget to ensure the first gold pour target is met in the second quarter of 2021. Norinco International has... 

Cora notes progress on Sanankoro ESIA

By: Tasneem Bulbulia     11th August 2020 West Africa-focused Cora Gold has reported on the progress made by Digby Wells Environmental on the environmental- and social-impact assessment (ESIA) for its Sanankoro gold project, in the Yanfolila Gold Belt, in southern Mali. The start of the ESIA was announced on May 4. 

Ivanhoe on track to bring flagship Kakula mine into production in 2021

By: Donna Slater     11th August 2020 TSX-listed Ivanhoe Mines is progressing with mine development work on three of its Central and Southern African mining projects, with its flagship Kakula copper discovery in the Democratic Republic of Congo (DRC) on track to start producing in the third quarter of 2021. The miner reports that... 

Gold Fields' South Deep mine addressing gender equality in mining

By: Simone Liedtke     11th August 2020 Gold miner Gold Fields has acknowledged the lack of female representation in the workplace, citing it as “a global business issue” across industries and geographies. To put it into perspective, women in the South African mining industry alone face a range of challenges, which often prevent them... 

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