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Latest News

Struggling ferrochrome needs chrome export tax as interim measure – Richards Bay Alloys  

By: Martin Creamer     28th October 2020 The struggling electricity-intensive South African ferrochrome industry, which has taken significant strides to increase its efficiency and reduce its electricity consumption, needs urgent steps to be taken to enable it to restore its competitiveness. The most far-reaching of these is the... 

Alba appoints geologist as COO

By: Marleny Arnoldi     28th October 2020 Aim-listed diversified miner Alba Mineral Resources says its senior geologist Mark Austin has agreed to take up the full-time position of COO, in addition to serving as senior geologist. He will be responsible for overseeing the day-to-day operations of the company’s mining projects in north... 

Wheaton's shares start trading on the LSE

By: Marleny Arnoldi     28th October 2020 TSX- and NYSE-listed precious metal streaming company Wheaton Precious Metals Corporation has started trading on the LSE main market, effective October 28. CEO Randy Smallwood says Wheaton’s business model offers UK investors a unique and appealing opportunity to gain exposure to precious... 

Sylvania achieves solid first-quarter production, financial performance 

By: Tasneem Bulbulia     28th October 2020 Aim-listed Sylvania’s Sylvania Dump Operations (SDO) produced 17 972 oz of platinum, palladium, rhodium and gold (4E) platinum-group metals (PGMs) for the quarter ended September 30 − the first quarter of Sylvania's 2021 financial year. This was higher than the 9 055 oz of 4E PGMs produced in the... 

Mboweni unveils less steep path to consolidation while continuing to raise debt-crisis alarm 

By: Terence Creamer     28th October 2020 Finance Minister Tito Mboweni unveiled a significantly looser fiscal consolidation roadmap in the Medium-Term Budget Policy Statement (MTBPS) he presented to lawmakers on Wednesday when compared with the framework provided in his June Supplementary Budget. Nevertheless, he reiterated his message... 

Mboweni unveils less steep path to consolidation while continuing to raise debt-crisis alarm
Photo by Bloomberg
Finance Minister Tito Mboweni

Operation Vulindlela delivery unit to drive growth-supportive structural reforms 

By: Terence Creamer     28th October 2020 The Presidency and the National Treasury have established a formal structure in an effort to accelerate the implementation of structural reforms that, together with the recently launched Economic Reconstruction and Recovery Plan, are at the heart of renewed efforts to boost South Africa’s... 

Operation Vulindlela delivery unit to drive growth-supportive structural reforms

Britain's Banks Mining will not challenge coal mine rejection

By: Reuters     28th October 2020 Banks Mining will not appeal against a government decision to reject its plans to develop a new coal mine in northeast England, the British company said on Wednesday. Northumberland County Council agreed in 2016 that developer Banks could extract three-million tonnes of coal over six to seven... 

Boliden reports healthy third-quarter output, financial performance

By: Marleny Arnoldi     28th October 2020 Swiss miner Boliden says its milled production volumes during the third quarter remained on par with that of the second quarter of the year, but came in higher than that of the prior year's third quarter. The company reported an operating profit of SEK2.2-billion for the quarter ended September... 

Atalaya launches feasibility study on scaled-up copper-cathode-producing plant

By: Marleny Arnoldi     28th October 2020 TSX- and Aim-listed Atalaya Mining has started with a feasibility study on its Proyecto Riotinto site, in Spain, to evaluate the economic viability of producing cathodes from complex sulphide ores prevalent in the Iberian pyrite belt. This will be done through the application of a new... 

Total finds gas at Luiperd prospect

By: Marleny Arnoldi     28th October 2020 Petroleum company Total has announced that it has made a significant gas condensate discovery on the Luiperd prospect, located on Block 11B/12B in the Outeniqua Basin, about 175 km off the southern coast of South Africa. The discovery follows the adjacent Brulpadda discovery made in 2019, which... 

Altus reports 'excellent' gold recoveries at Diba

By: Tasneem Bulbulia     28th October 2020 Mining royalty company Altus Strategies has announced “excellent” results from metallurgical testwork on oxide and sulphide samples from it 100%-owned Diba gold project in western Mali. The work was undertaken to test the amenability of Diba ores to carbon-in-leach (CIL) and heap leach processing. 

Chaarat maintains guidance amid instabilities in its operating countries

By: Marleny Arnoldi     28th October 2020 Aim-listed Chaarat has produced 15 175 gold-equivalent ounces (GEOs) in the third quarter, an increase of 8.7% on the second quarter’s output but 0.4% lower on that produced in the third quarter of 2019. This places the company on track to achieve its full-year guidance of 55 000 GEOs.  

Gem says higher prices demonstrate improved demand for Letšeng diamonds 

By: Donna Slater     28th October 2020 LSE-listed diamond miner Gem Diamonds has sold 70 559 ct worth of diamonds for the year to date, achieving an average price of $1 908/ct. During the third quarter, the group also unearthed five diamonds greater than 100 ct, bringing the total for the year to date to 13. 

Gem says higher prices demonstrate improved demand for Letšeng diamonds

Parties call for Ntshangase's killers to be brought to book, peace in Somkhele

By: Donna Slater     28th October 2020 In the wake of the murder of Mfolozi Community Environmental Justice Organisation (MCEJO) subcommittee vice-chairperson Fikile Ntshangase on October 22, numerous parties have called for calm and peaceful discussion about the contested issue of expansion of the Somkhele, KwaZulu-Natal-based... 

Bloom Lake returns to normal - Champion

By: Esmarie Iannucci     28th October 2020 ASX and TSX-listed Champion Iron has reported increased production in the three months to September, as operations at the Bloom Lake mine, in Quebec, returned to full operational capacity. Bloom Lake produced 2.2-million tonnes of high-grade iron-ore concentrate during the three months to... 

Bloom Lake returns to normal - Champion

Resgen says IDC resolves not to grant extension for Boikarabelo coal funding

By: Tasneem Bulbulia     28th October 2020 Owing to delays in satisfying certain conditions precedent to reaching financial close for first drawdown under the mine funding package for the construction of the Boikarabelo coal project, dual-listed Resource Generation (Resgen) has been trying to secure formal sign off of the extension of the... 

Miner Kaz agrees to £3bn buyout deal from chairman-led group

By: Reuters     28th October 2020 Kaz Minerals said on Wednesday it has agreed to be acquired by a consortium led by its chairperson Oleg Novachuk, in an all-cash deal that values the London-listed miner at £3-billion ($3.91-billion). Nova Resources, a company owned by Novachuk and Kaz director Vladimir Kim, will pay 640p per Kaz... 

Miner Kaz agrees to £3bn buyout deal from chairman-led group

West African's production up by 40%

By: Esmarie Iannucci     28th October 2020 Gold miner West African Resources has reported a 40% increase in gold production for the three months to September, as ramp-up at its 90% held Sanbrado operation, in Burkina Faso, continued. Gold production in the September quarter was up to 45 338 oz, from the 33 028 oz poured in the June... 

Sandfire’s first deposit at Black Butte shows potential to produce 23 000 t/y of copper

By: Marleny Arnoldi     28th October 2020 ASX-listed Sandfire Resources America has announced a maiden mineral reserve of 8.8-million tonnes at 2.6% copper for 226 100 t of contained copper for the Johnny Lee deposit at the company’s Black Butte copper project. The company also published a feasibility study on the deposit, which is... 

Black Butte proves positive - Sandfire

By: Esmarie Iannucci     28th October 2020 A feasibilitiy study into the Johnny Lee deposit, at the Black Butte copper project, in Montana, has found that the deposit would underpin a mine life of eight years, at a production rate of 1.2-million tonnes of ore a year. The North American subsidiary of ASX-listed Sandfire Resources,... 

Galaxy expectations remain intact

By: Esmarie Iannucci     28th October 2020 Lithium miner Galaxy Resources is on track to achieve its full year production guidance following a strong September quarter. Galaxy on Wednesday reported that the Mt Cattlin operation, in Western Australia, maintained steady production during the third quarter ending September, with the mine... 

New Century hoping to halve debt

By: Esmarie Iannucci     28th October 2020 Base metals miner New Century Resources has announced plans for a $25-million capital raise to retire over half of its existing net secured debt. The ASX-listed company on Wednesday said that it would raise some $15-million through a share placement to two existing institutional shareholders... 

Thermal coal demand in Asia to rise - report

By: Esmarie Iannucci     28th October 2020 New research conducted on behalf of the Minerals Council of Australia (MCA) has noted that the demand for thermal coal imports in the Asia Pacific region will grow by more than 270-million tonnes to 2030, to reach 1.1-billion tonnes a year. The report by Commodity Insight, noted that there were... 

Thermal coal demand in Asia to rise - report

Nordgold hopes to clear the air

By: Esmarie Iannucci     28th October 2020 Gold miner Nordgold on Wednesday announced that it would supplement its on-market unconditional cash offer for ASX-listed Cardinal Resources with an off-market offer on equivalent terms, in the hopes of swaying the Cardinal board’s vote in favour of its own offering. The suitor on Wednesday said... 

Jupiter plans iron-ore spin-out

By: Esmarie Iannucci     28th October 2020 The board of ASX-listed Jupiter Mines has approved a demerger of the company’s Central Yilgarn iron-ore assets, and a subsequent initial public offering (IPO). The demerger will create a separately ASX-listed company that will focus on progressing the development of the Mount Mason direct... 

Vauramo to lead Metso Outotec to 2023; group unveils strategic, financial targets

By: Creamer Media Reporter      28th October 2020 Pekka Vauramo will continue as president and CEO of Metso Outotec Corporation until the end of 2023. Metso Outotec, a process technology, equipment and services company serving the minerals, metals and aggregates industries, was established earlier this year after the fnalisation of a merger... 

Vivo Energy, Robex to set up a solar plant at Mali mine

By: Tasneem Bulbulia     28th October 2020 Canadian mining company Robex Resources and Vivo Energy, which sells and distributes Shell- and Engen-branded fuels and lubricants in Africa, have reached an agreement for Vivo Energy to supply solar energy to the Nampala gold mine, in Mali, for a period of five to fifteen years. The project will... 

Brixton Metals, HPX enter into $44.5m earn-in agreement over Hog Heaven project

By: Creamer Media Reporter      28th October 2020 Canadian exploration and development company Brixton Metals has entered into a binding heads of agreement with High Power Exploration (HPX), a mineral exploration and development company led by chairperson and CEO Robert Friedland, with respect to a $44.5-million earn-in and joint venture on... 

Trump lifts tariffs on Canadian aluminum, warns he may resume them

By: Reuters     28th October 2020 US President Donald Trump issued a proclamation on Tuesday formally removing tariffs on raw aluminum imports from Canada but threatening to reinstate them if there was a surge in imports of the metal across the northern US border. The proclamation follows an agreement with Canada announced last... 

Zijin officially opens Buriticá

By: Creamer Media Reporter      27th October 2020 Chinese miner Zijin Mining has formally opened the Buriticá underground gold mine, in Colombia. The company acquired the mine following the acquisition of Continental Gold in March 2020. 

Hopes rise as top firms arrive at potential flow-through share model to stimulate mining exploration  

By: Martin Creamer     27th October 2020 A flow-through share model has been drawn up with the help of top firms to stimulate badly neglected mining exploration in South Africa, Minerals Council South Africa junior and emerging miners leadership forum chairperson Errol Smart said on Tuesday. Speaking to Mining Weekly in a Zoom... 

Hopes rise as top firms arrive at potential flow-through share model to stimulate mining exploration
Minerals Council South Africa Junior Miners’ Forum Chairperson Errol Smart interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Critical copper negotiations point to a tight market

By: Bloomberg     27th October 2020 As Freeport McMoRan hammers out next year’s benchmark deal for the copper industry, the coronavirus has complicated negotiations but also given the miner an edge. Gone is an ice-breaking reception for key customers that Freeport’s Javier Targhetta hosted for more than two decades during London... 

Critical copper negotiations point to a tight market

Toolbox of measures needed to arrest slippage of domestic chrome competitiveness

By: Donna Slater     27th October 2020 The Minerals Council South Africa says a comprehensive “toolbox” of measures is needed to improve the competitiveness of the entire chrome value chain, which has been impacted by a number of challenges. These challenges include nearly 40% of South Africa’s ferrochrome production having either... 

Tribunal approves IRL's buyout of Mapochs mine, with conditions

By: Marleny Arnoldi     27th October 2020 The Competition Tribunal has approved a transaction whereby natural resources investor International Resources Limited (IRL) South Africa will acquire the openpit Mapochs mine, in Mpumalanga. The mine supplied ore for the production of steel and vanadium before steel producer Evraz Highveld... 

Glencore provides backing for Falco's Horne project

By: Mariaan Webb     27th October 2020 TSX-V-listed Falco Resources on Tuesday announced an agreement with Glencore Canada, whereby the commodities trader and miner will provide a $10-million bridge financing to fund continued project operations at the Horne 5 VMS deposit, in Quebec. The companies also entered into life-of-mine... 

Glencore provides backing for Falco's Horne project

Excitement as Sumitomo becomes AP Ventures’ latest hydrogen economy investor 

By: Martin Creamer     27th October 2020 Leading Fortune 500 global trading and business investment company Sumitomo Corporation, which has a strong focus on the hydrogen economy, has become the latest investor in partnership with venture capital company AP Ventures Fund II. Sumitomo joins cornerstone investors such as South Africa’s... 

Excitement as Sumitomo becomes AP Ventures’ latest hydrogen economy investor
Photo by Creamer Media
Andrew Hinkly

Caterpillar earnings dive as economy woes deter equipment purchases

By: Reuters     27th October 2020 Caterpillar on Tuesday reported lower quarterly earnings as equipment sales fell across all of its three primary segments, reflecting a slow and uneven recovery in global economic activity from coronavirus lockdowns. The heavy equipment maker reported a third-quarter profit of $1.22 per share,... 

IronRidge records high-grade drilling results at Zaranou

By: Tasneem Bulbulia     27th October 2020 Aim-listed IronRidge Resources has recorded final high-grade drilling results from the second phase drilling programme at the Ebilassokro and Ehuasso targets, both within the Zaranou gold project area in Côte d'Ivoire Final high-grade reverse circulation (RC) and aircore (AC) drilling results... 

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