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Latest News

Osisko, Barolo complete C$100m placement to finance Osisko Development

By: Creamer Media Reporter      29th October 2020 The previously announced C$100-million bought deal private placement offering of 13.35-million subscription receipts of Osisko Development Holdings at a price of C$7.50 each has closed. Precious metals royalty company Osisko Gold Royalties earlier this month announced the creation of a new North... 

Lac Doré among the world's largest undeveloped deposits

By: Creamer Media Reporter      29th October 2020 TSX-V-listed VanadiumCorp Resource has published the results of a mineral resource estimate for its flagship Lac Doré vanadium project, in Quebec, which it says is one of the largest undeveloped deposits of vanadiferous magnetite in the world, with in excess of 1.4-billion pounds of vanadium... 

Newmont Corp quarterly profit more than doubles as gold prices rise

By: Reuters     29th October 2020 Newmont Corp said on Thursday its quarterly adjusted profit more than doubled, as the world's largest gold miner benefited from a rise in bullion prices after investors sought refuge in safe-haven assets due to the Covid-19 pandemic. Gold prices touched record highs during the quarter as a... 

Profitable circular economy concepts making future potentially bright for coal miners  

By: Martin Creamer     29th October 2020 Coal mining companies need to start looking at creating their own profitable circular economies around existing coal assets because it is possible, says African Source Markets CEO Bevan Jones. While still responsibly mining coal, coal-mining companies have an opportunity to look at creating a... 

Profitable circular economy concepts making future potentially bright for coal miners
African Source Markets CEO Bevan Jones interviewed by Mining Weekly’s Martin Creamer.

Alphamin reports q/q improvements in Ebitda, tin sales

By: Tasneem Bulbulia     29th October 2020 Dual-listed Alphamin Resources’ tin sales up were up 3% quarter-on-quarter to 2 695 t for the third quarter ended September 30. Earnings before interest, taxes, depreciation and amortisation (Ebitda) increased by 24% quarter-on-quarter to $16.1-million. 

First Quantum reports strong third-quarter operational, financial performance

By: Tasneem Bulbulia     29th October 2020 TSX-listed First Quantum Minerals reported comparative earnings of $64-million, net earnings attributable to shareholders of $29-million and cash flows from operating activities of $452-million for the three months ended September 30. “The third quarter was strong from an operational and... 

Afrimat's diversification strategy paying off  

By: Marleny Arnoldi     29th October 2020 Openpit miner Afrimat reported an 11% year-on-year increase in operating profit for the six months ended August 31, despite a 9.4% year-on-year decrease in revenue. The company also ended the period with cash and cash equivalents of R330-million, a 170% year-on-year increase. 

Afrimat's diversification strategy paying off
Afrimat CEO Andries van Heerden shares how the company's diversification strategy has made it more resilient

Council clarifies TB data

By: Tasneem Bulbulia     29th October 2020 The Minerals Council South Africa has provided updated tuberculosis (TB) data, following the publication of an article by Reuters titled ‘Africa’s miners face new TB threat as pandemic disrupts treatment’, published on October 26. The council said in a statement on October 29 that it wanted to... 

DTIC emphasises commitment to improve chrome beneficiation

By: Donna Slater     29th October 2020 Department of Trade, Industry and Competition (DTIC) director-general Lionel October emphasised, during a recent meeting of the Portfolio Committee on Trade and Industry, the department’s support for the implementation of a set of interventions to promote chrome beneficiation.   It emerged during... 

Election will decide fate of Alaska gold mine, shift to e-cars

By: Bloomberg     29th October 2020 Oil drilling in the Arctic and the Pebble gold mine in Alaska aren’t actually on the ballot -- but they might as well be. The controversial projects are hanging in the balance of the presidential election, with Joe Biden’s vow to scuttle them. And dozens of other oil, gas and mining ventures... 

Election will decide fate of Alaska gold mine, shift to e-cars

Sibanye-Stillwater says operational recovery progressing well 

By: Donna Slater     29th October 2020 JSE-listed gold and platinum group metals (PGMs) miner Sibanye-Stillwater says its operational recovery from the severe Covid-19-induced lockdown in South Africa has progressed well to date. The build-up to normalised production levels at the miner’s South African operations has progressed... 

Sibanye-Stillwater says operational recovery progressing well

Sasol to test market for Southern African carbon-offset prospects 

By: Terence Creamer     29th October 2020 Chemicals and energy group Sasol has indicated that it intends issuing a request for information (RFI) for the development and implementation of carbon-offset projects in South Africa and the Southern African Development Community (SADC) and has called on potential participants to register their... 

Sasol to test market for Southern African carbon-offset prospects

Budget acknowledges economy’s plight, but more urgency required, say business organisations

By: Tasneem Bulbulia     29th October 2020 Following the delivery of the Medium Term Budget Policy Statement (MTBPS) by Finance Minister Tito Mboweni on October 29, business organisations have commended its acknowledgement of the dire economic situation facing the country, but have noted that more urgency is required in terms of reforms... 

Tembo Capital extends term of loan for Orion’s Prieska project

By: Donna Slater     29th October 2020 Private equity group Tembo Capital has extended the term of the repayment date of the $3.6-million loan facility set aside to advance metals explorer Orion Minerals’ Prieska copper/zinc project, in the Northern Cape, to June 30, 2021. The loan facility was originally due for repayment by October 31. 

One by one, London’s boom-time miners are heading for the exit

By: Bloomberg     29th October 2020 KAZ Minerals looks set to end its 15-year London listing after the Kazakh copper miner’s biggest shareholder offered to take it private. The reason: irreconcilable differences with the market. It’s not the first to reach that conclusion. 

Investors worth $10.2tr press global miners for talks on Indigenous engagement

By: Reuters     29th October 2020 Institutional investors worth $10.2-trillion have written to the boards of global mining companies to better understand their engagement with First Nations people, in the wake of Rio Tinto's destruction of Juukan Gorge rockshelters. The group of 64 investors and their representatives, including... 

Investors worth $10.2tr press global miners for talks on Indigenous engagement
Photo by Bloomberg
Former Rio Tinto CEO Jean-Sébastien Jacques was forced to step down in the wake of the Juukan Gorge disaster

New coral species discovered on seabed prized for mining potential

By: Reuters     29th October 2020 Three species of black coral have been discovered on the seabed of the northern Pacific Ocean, an area where several countries have contracts to explore for metals including cobalt and nickel as they race to find new supplies of the key battery elements. The corals were discovered on deep... 

Liontown raises cash to advance WA projects

By: Esmarie Iannucci     29th October 2020 ASX-listed Liontown Resources will raise A$12.5-million through a share placement to institutional and professional investors, to advance its Kathleen Valley lithium/tantalum project, and its Moora gold/platinum, nickel/copper projects, in Western Australia. The company on Thursday said that... 

Alamos reports record third-quarter earnings, cash flow

By: Marleny Arnoldi     29th October 2020 TSX- and NYSE-listed Alamos Gold reported a solid financial and operational performance for the third quarter ended September 30, marked by lower costs from its two mines in Canada and one mine in Mexico. The company generated record free cash flow of $76-million in the quarter, resulting in a... 

Alamos reports record third-quarter earnings, cash flow

Osisko nears completion of spin-out, reverse takeover transaction with Barolo

By: Marleny Arnoldi     29th October 2020 North American precious metal royalty company Osisko Gold Royalties says it is progressing the spin-out transaction and formation of Osisko Development Corporation with Barolo Ventures. Osisko earlier this month announced the creation of a new North American gold development company to advance... 

Osisko nears completion of spin-out, reverse takeover transaction with Barolo

Newmont increases quarterly dividend by 60% to $0.40 a share

By: Creamer Media Reporter      29th October 2020 NYSE- and TSX-listed Newmont Corporation has declared a quarterly dividend of $0.40 a share for the third quarter. The dividend, payable on December 28, represents a 60% increase compared with the prior quarterly dividend of $0.25 a share. 

Oceana increases ouptut in Sept quarter

By: Esmarie Iannucci     29th October 2020 ASX- and TSX-listed gold miner OceanaGold has reported an increase in gold production for the three months to September as its Macreas operation, New Zealand, resumed full-scale operations after a government-imposed Covid-19 shutdown in the second quarter. Group gold production in the third... 

Mining lease granted for Muchea

By: Esmarie Iannucci     29th October 2020 A mining lease has been granted for the Muchea silica sands project, in Western Australia, ASX-listed VRX Silica reported on Thursday. The mining lease covers 1 008 ha, including the development area, and would span for a period of five years. 

Miner Agnico beats quarterly profit on gold price surge, raises capex

By: Reuters     29th October 2020 Canada's Agnico Eagle Mines reported a better-than-expected quarterly profit on Wednesday, benefiting from a surge in gold prices and sales volume, and raised its capex forecast for the year as it spends on several sites to boost production. Agnico now expects total capital expenditure for the... 

Miner Agnico beats quarterly profit on gold price surge, raises capex

Orocobre's production falls

By: Esmarie Iannucci     29th October 2020 Dual listed lithium miner Orocobre has reported a fall in production for the three months to September, compared with the previous corresponding period, as Covid-19 restrictions took their toll. Lithium production during the three months under review reached 2 352 t, down from the 2 511 t... 

Fortescue spending big on fleet

By: Esmarie Iannucci     29th October 2020 Iron-ore miner Fortescue Metals has signed up for a A$32-million renewable hydrogen supply product that would enable ten of its coaches at its Christmas Creek mine, in the Pilbara region, to be fuelled with renewable hydrogen. The Christmas Creek operation would be the first mine in Australia... 

IGO sees uptick in output

By: Esmarie Iannucci     29th October 2020 Metals miner Independence Group has reported increased nickel, copper and gold production for the first quarter ended September from its Nova and Tropicana operations. Nickel production from the Nova mine, in Western Australia, increased by 1% on the fourth quarter of 2020, to 7 276 t, while... 

S Australia hyped for hydrogen

By: Esmarie Iannucci     29th October 2020 The South Australian government this week launched its hydrogen prospectus, detailing three hydrogen hubs that is hoped would position the state at the forefront of hydrogen production and export. Minister for Energy and Mining, Dan van Holst Pellekaan said on Thursday that the prospectus showed... 

Pilbara makes a move on Altura

By: Esmarie Iannucci     29th October 2020 Lithium miner Pilbara Minerals has moved to potentially acquire the Altura lithium project, in Western Australia, for $175-million, after ASX-listed Alura Mining went into voluntary administration earlier this week. Altura earlier this week appointed receivers and managers to conduct an urgent... 

Newcrest holding fast in Sept quarter

By: Esmarie Iannucci     29th October 2020 Gold major Newcrest Mining has reported a slight decline in both gold and copper production for the three months to September, compared with the previous quarter, on the back of planned shutdown events at the Cadia, Lihir and Telfer operations. Newcrest produced 503 089 oz of gold during the... 

Fortescue sets quarterly record

By: Esmarie Iannucci     29th October 2020 Iron-ore major Fortescue Metals has reported a record first quarter of iron-ore shipments during the three months to September. Iron-ore shipments in the first quarter reached 44.3-million tonnes, up 5% than the previous corresponding period, while C1 costs declined by 2% in the same period to... 

Fortescue sets quarterly record

Resources Watch  

29th October 2020 This week: Gold Fields 40 MW solar power application making good progress Platinum well positioned in hydrogen economy’s sweet spots And, Experience from other health crises shaped mining industry’s rapid pandemic response  

Resources Watch
Resources Watch

Gold demand recovering, but impact of possible 'second wave' of Covid-19 infections uncertain

By: Simone Liedtke     29th October 2020 Overall global gold demand decreased by 19% year-on-year to 892 t in the third quarter, owing largely to consumers still feeling the impact of the Covid-19 pandemic, says the World Gold Council (WGC) in its latest 'Gold Demand Trends' report. Published on October 29, the report indicates that... 

Gold demand recovering, but impact of possible 'second wave' of Covid-19 infections uncertain
WGC market intelligence manager Krishan Gopaul

US DFC to assess if Lepidico's Namibia project qualifies for financing

By: Creamer Media Reporter      29th October 2020 ASX-listed Lepidico has entered into a formal mandate with the US International Development Finance Corporation (DFC) to undertake an in-depth analysis and evaluation of the Karibib Phase 1 project, in Namibia, to determine whether the project qualifies for DFC financing. The DFC will undertake... 

Avidian seeks to increase US visibility as it starts trading on OTCQB

By: Creamer Media Reporter      29th October 2020 TSX-V-listed Avidian Gold Corp started trading on the OTCQB Venture marketplace (OTCQB), effective October 28. “Avidian’s key areas of interest are advanced-stage gold projects located in the US in two of the best mining jurisdictions in the world – Alaska and Nevada. 

Gowest secures all environmental permits to bring Bradshaw into commercial production

By: Creamer Media Reporter      29th October 2020 Canadian gold exploration and development company Gowest Gold has received the last environmental permit needed to bring its Bradshaw prospect, which is part of the North Timmins gold project, into commercial production. The company reported on October 28 that it had received official notice from... 

Giyani expects Botswana DEA to approve K Hill SToR by end of the quarter

By: Creamer Media Reporter      29th October 2020 TSX-V-listed Giyani Metals Corp expects the Botswana Department of Environmental Affairs (DEA) to approve the scoping and terms of reference (SToR) for its K Hill managanese project later this quarter. The environmental- and social-impact assessment (Esia) approval by the DEA is a two-stage... 

Lloyd's insurer Apollo to stop underwriting Adani coal mine from Sept 2021

By: Reuters     28th October 2020 Lloyd's of London firm Apollo has written insurance for Adani Enterprises' Carmichael thermal coal mine which expires in Sept 2021 but is not planning to provide any further insurance for the mine, according to a memo seen by Reuters. Carmichael has provoked controversy in Australia because it... 

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