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Latest News

Piedmont raises more cash

By: Esmarie Iannucci     26th October 2020 The underwriters of US lithium developer Piedmont Lithium’s US offering have exercised their option over an additional 300 000 of the company’s American depositary shares (ADSs), raising an additional A$10.6-million. Piedmont last week raised an initial A$70-million through the underwritten US... 

Weekly Coal Index Report

26th October 2020 Australian coal prices are playing catch-up with South African prices as Asian buyers focus on value wherever they can get it. South African coal is less competitive into markets such as South Korea and Vietnam, whereas RBCT exports to Turkey were over 500 kt last month, far higher than only... 

Weekly Coal Index Report

Kanadario negotiates management change agreement, stock surges

By: Mariaan Webb     26th October 2020 Investors piled into explorer Kanadario Gold on Friday, as the Vancouver-headquartered company announced an agreement with G Mining Services and members of the Gignac family that will result in the current management and board being replaced and the company being renamed G Mining Ventures.... 

Troy raises A$15m for exploration

By: Esmarie Iannucci     26th October 2020 ASX-listed Troy Resources will raise A$15-million through a two tranche share placement to fund exploration work in Guyana. The company on Monday announced that 100-million new shares, at a price of 12c each, would be issued under the company’s existing placement capacity, to raise an initia.... 

Cardinal still backing Shandong

By: Esmarie Iannucci     26th October 2020 Gold miner Nordgold has told the shareholders of takeover target Cardinal Resources that it would not be improving on its A$1 a share cash offer, unless a higher competing offer emerges. Nordgold last week increased its offer price for Cardinal shares from 90c a share to A$1 a share, matching an... 

Senex signs deal with Alinta

By: Esmarie Iannucci     26th October 2020 ASX-listed Senex Energy has struck a sales agreement with energy wholesaler and retailer Alinta Energy for 4 PJ of natural gas. Under the two-year sales agreement, Senex will supply 4 PJ of natural gas from the start of January next year, with the gas to be supplied at the Wallumbilla gas hub, in... 

Rio's 'special' diamonds up for tender

26th October 2020 Diversified miner Rio Tinto has announced that a selection of rough diamonds from the company’s Canadian and Australian mines will be tendered to diamond specialists in October and November. Headlining Rio’s forthcoming “specials” tender, which showcases rough diamonds greater than 10.8 ct, is... 

Aus partners with Singapore to reduce emissions

By: Esmarie Iannucci     26th October 2020 The government of Australia has signed a memorandum of understanding (MoU) with Singapore to advance cooperation on low-emissions technologies and solutions. Under the MoU, Australia and Singapore will share technical knowledge and experience, and collaborate on the development of new... 

Nickel West inks energy deal

By: Esmarie Iannucci     26th October 2020 Mining major BHP has inked a 15-year contract extension to its power purchase agreement (PPA) with energy provider Southern Cross Energy (SCE) for the supply of electricity to its Nickel West operations, in Western Australia. The agreement extends the current arrangement to 2038, giving Nickel... 

MMG says Las Bambas copper shipments back to normal, cuts 2020 guidance

By: Reuters     26th October 2020 Shipments from MMG's Las Bambas copper mine in Peru have returned to normal after nearly a week of disruption, the Hong Kong-listed company said on Monday, even as it slashed its output guidance for the mine in 2020 by more than 10%. Trucking of concentrate from Las Bambas, one of the world's... 

Philippines pushes to end mining lawsuits to pave way for sale

By: Bloomberg     26th October 2020 The Philippines is forming a government task force to resolve legal cases involving its mining assets, trying to push forward with their sale, Finance Secretary Carlos Dominguez said. Lawsuits have hampered the government’s efforts to privatise the assets, Dominguez said in a statement on... 

Rio Tinto asks court to OK sale of partner's diamonds in Canada mine

By: Reuters     26th October 2020 Global miner Rio Tinto is seeking court approval to sell its partner's share of diamonds from a mine in Canada's Northwest Territories, a filing showed, hoping to recover around C$120-million plus legal fees and other costs. Rio owns 60% of Diavik Diamond Mines Inc (DDMI) and says it is owed... 

Rio Tinto asks court to OK sale of partner's diamonds in Canada mine
The Diavik mine

Brazil prosecutors accuse BHP, Vale of colluding to reduce payouts to disaster victims

By: Reuters     26th October 2020 Brazilian federal prosecutors have accused mining giants BHP and Vale of colluding with a lawyer to reduce compensation for victims of a fatal dam collapse and interfere with a landmark lawsuit against BHP in the UK. A mining waste dam burst in 2015 at BHP and Vale's Samarco joint venture in the... 

Transnet revamping concessions model to speed up private involvement in rail and ports 

By: Terence Creamer     23rd October 2020 State-owned freight logistics group Transnet is in the process of overhauling its approach to opening up its port and rail networks, including 8 000-km of branch lines, to private participants, acknowledging that its previous models have been far to slow and cumbersome. CEO Portia Derby said the... 

Transnet revamping concessions model to speed up private involvement in rail and ports

Barrick Gold plans to expand exploration in Tanzania

By: Reuters     23rd October 2020  Barrick Gold Corp said on Friday Tanzania has awarded 10 new exploration licenses to the Canadian miner and it plans to spend $8 million to carry out exploration in the country this year. Barrick oversees the management of its assets in Tanzania through Twiga Minerals Corp, a joint venture... 

Central banks net sellers of gold owing to pandemic, says Refinitiv

By: Tasneem Bulbulia     23rd October 2020 Central banks shifted to net sellers for the first time in nearly a decade, with net sales estimated at just under 13 t for the third quarter, research from financial markets data company Refinitiv shows. The shift was driven by an absence of purchases from Russia and China, as well as a... 

Streaming company Wheaton to list on LSE

By: Mariaan Webb     23rd October 2020 Streaming company Wheaton Precious Metals will list on the London exchange on October 28, the company, which already trades in Toronto and New York, announced on Friday. Wheaton enters into agreements to purchase all, or a portion, of the precious metals production from mines located around the... 

Streaming company Wheaton to list on LSE

Kefi chairperson says pleased with developments at Ethiopia, Saudi Arabia projects

By: Tasneem Bulbulia     23rd October 2020 Aim-listed Kefi chairperson Harry Anagnostaras-Adams says he is delighted that the funding consortium for the Tulu Kapi project, in Ethiopia, has been finalised and that the overall project timetable for targeting the start of production in the fourth quarter of 2022 has been maintained. Kefi on... 

Exxaro sets out to improve the streets of Belfast

By: Marleny Arnoldi     23rd October 2020 JSE-listed diversified miner Exxaro Resources on October 23 held a sod-turning ceremony in Belfast, Mpumalanga, to mark the start of its rehabilitation of the town’s streets and associated stormwater management systems. As part of Exxaro’s commitment to local economic development, the objective... 

Exxaro sets out to improve the streets of Belfast
Exxaro sod-turning ceremony in Belfast

Goldplat's South African, Ghanaian operations post higher profits

By: Marleny Arnoldi     23rd October 2020 Aim-listed gold producer Goldplat has posted solid profits from its South African and Ghanaian operations of £1.1-million and £280 000, respectively, for the quarter ended September 30. This compares with the £1-million profit posted by the South African operations and the £23 000 profit posted... 

Merafe records 37% production decline for nine months to September

By: Simone Liedtke     23rd October 2020 JSE-listed Merafe Resources’ attributable ferrochrome production from the Glencore Merafe chrome venture in the third quarter ended September 30, was 48 000 t. This brought its attributable ferrochrome production for the nine months to September 30 to 168 000 t, a 37% decrease on the 266 000 t... 

Sibanye-Stillwater, trade unions ink three-year wage agreement for Kroondal

By: Simone Liedtke     23rd October 2020 JSE- and NYSE-listed Sibanye-Stillwater has concluded a three-year wage agreement for its Kroondal operation, which forms part of its South African platinum group metal (PGM) operations. The wage agreement was concluded with the National Union of Mineworkers and the Association of Mineworkers and... 

World Bank sees slow commodities recovery after virus hit

By: Bloomberg     23rd October 2020 Oil demand could see “lasting impacts” from the coronavirus while modest gains are projected in metals and agriculture prices as commodity markets recover from the shock of the pandemic, according to the World Bank. The World Bank boosted its projections from April for the average oil price in... 

Australia's biggest mining royalty firm Deterra debuts with $1.83bn market value

By: Reuters     23rd October 2020 Deterra Royalties debuted on the ASX on Friday with a market value of A$2.57-billion after being spun off from mineral sands producer Iluka Resources. Deterra, the country's biggest listed mining royalty business, joins Australia's top 200 listed companies after issuing about 528 million shares,... 

Diamond manufacturers have a chance to make profit – Rapaport

By: Mariaan Webb     23rd October 2020 The coronavirus pandemic, which hit the diamond industry hard in the first half of 2020, has presented an opportunity for squeezed diamond manufacturers to turn things around and start making profit. Squeezed by high rough diamond costs and declining polished prices, manufacturers and dealers... 

Diamond manufacturers have a chance to make profit – Rapaport

Pan African Resources’ ADR programme joins top tier over-the-counter market

By: Marleny Arnoldi     23rd October 2020 Gold miner Pan African Resources has announced that its American Depository Receipt (ADR) programme has been admitted to trade on the OTCQX Best Market, in the US, effective October 23. Pan African CEO Cobus Loots says the OTCQX market is the highest tier of the over-the-counter stock trading... 

All trapped workers rescued from Implats’ 20 Shaft

By: Marleny Arnoldi     23rd October 2020 Platinum group metals miner Impala Platinum (Implats) has confirmed that all workers have been evacuated safely from underground, following an incident late on October 21 at its 20 Shaft, in Rustenburg. The incident related to a mechanical failure in the rock conveyance system on site, which,... 

Miners pivotal to hydrogen development

By: Esmarie Iannucci     23rd October 2020 The Australian mining sector had a significant role to play if the country’s ambitions to become a world leader in the hydrogen space were to be met, strategy consultants Accenture said. “The hydrogen economy has some huge obstacles to overcome before it becomes mainstream, but the unique... 

Gruyere peforming to plan - Gold Road

By: Esmarie Iannucci     23rd October 2020 The Gruyere gold project, in Western Australia, produced 55 919 oz of gold for its joint venture partners Gold Road Resources and Gold Fields during the quarter ended September. Gold production for the September quarter was down from the 71 865 oz produced in the June quarter, but in line with... 

Gold Fields, export tax, coal mine disposal make headlines  

23rd October 2020 Mining Weekly Editor Martin Creamer unpacks Gold Fields' application for a 40MW solar power plant at South Deep, the export tax on chrome ore and coal mine disposal exacerbating CO2 emissions.   

Gold Fields, export tax, coal mine disposal make headlines
Gold Fields, export tax, coal mine disposal make headlines

Regis' production falls in Sept quarter

By: Esmarie Iannucci     23rd October 2020 Gold miner Regis Resources has reported a slight drop in gold production for the three months to September as head grades and recovery rates declined slightly. Gold production in the first quarter ended September reached 81 567 oz, compared with the 87 260 oz produced during the June quarter,... 

Predictive raises Guinea exploration funds

By: Esmarie Iannucci     23rd October 2020 ASX-listed Predictive Discovery will raise A$10.6-million through an institutional placement to fund exploration at its Bankan gold project, in Guinea. The placement will be issued in two tranches, with the first consisting of 176.7-million shares under the company’s existing placement capacity. 

Barrick’s Kibali on track to deliver upper end of 2020 guidance

By: Simone Liedtke     23rd October 2020 Canada-based Barrick Gold’ Kibali mine, in the Democratic Republic of Congo (DRC), is on track to deliver at the upper end of its 2020 guidance, president and CE Mark Bristow says. Kibali was the first underground gold mine in the DRC and has a production outlook previously set at between 340 000... 

Trump seizes on Biden oil comment to warn swing State voters 

By: Bloomberg     23rd October 2020 President Donald Trump seized on Joe Biden’s pledge Thursday to eventually replace fossil fuels with renewable energy, turning the Democratic nominee’s remarks into a warning for swing state voters that oil and gas jobs could be at risk. Biden’s comment came in response to a question from Trump... 

Trump seizes on Biden oil comment to warn swing State voters
President Donald Trump and former Vice President Joe Biden during Thursday's debate in Nashville.

Council says lower power prices are among what ferrochrome industry needs  

By: Marleny Arnoldi     23rd October 2020 While the Minerals Council South Africa welcomes government’s steps to support domestic ferrochrome production and the chrome value chain, it has expressed disappointed at government not addressing competitiveness in its Cabinet statement delivered in the week of October 23. The interventions... 

Council says lower power prices are among what ferrochrome industry needs
Lanxess chrome operation, in Rustenburg

$1tr needed for key energy transition metals by 2035 – WoodMac

23rd October 2020 More than $1-trillion of investment will be needed in key energy transition metals - aluminium, cobalt, copper, nickel and lithium - over the next 15 years to meet the growing demands of decarbonisation, says consultancy group Wood Mackenzie (WoodMac). This is almost double the figure invested... 

$1tr needed for key energy transition metals by 2035 – WoodMac

Beach revenue improves in Sept quarter

By: Esmarie Iannucci     23rd October 2020 Oil and gas producer Beach Energy has reported a 13% increase in sales revenue for the quarter ended September, despite a 1% drop in production volumes. The ASX-listed Beach on Friday reported that production for the three months to September had reached 6.77-million barrels of oil equivalent,... 

Cokal expediting BBM development

By: Esmarie Iannucci     23rd October 2020 Coal developer Cokal on Friday revealed that it was expediting the development of its Bumi Barito Mineral (BBM) coking coal project, in Indonesia, with preliminary development activities being undertaken at the site in anticipation of receipt of funding. The company earlier this month secured a... 

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