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Latest News

Piedmont raises $50m for US lithium project

By: Esmarie Iannucci     22nd October 2020 Lithium developer Piedmont Lithium has raised A$70.6-million through an underwritten US public offering of two-million of its American depositary shares (ADSs) to fund the development of its lithium project, in North Carolina. The ADSs each represent 100 of the company’s ordinary shares and were... 

Resources Watch  

22nd October 2020 This week: Southern Africa’s green hydrogen buy-in exceeding expectations; New venture capital incubation fund targeting small-scale mining space; And, environmental under-investment comes back to bite 

Resources Watch
Resources Watch

Community unrest leads to fatal shooting near Exxaro's Grootegeluk mine

By: Creamer Media Reporter      21st October 2020 Diversified South African-based resources group Exxaro Resources says a local community member was killed in a shooting incident near its Grootegeluk mine on October 20. "The deceased was part of a community protest that entered the private property owned by Exxaro near its Grootegeluk mine... 

South African coal industry to reach tipping point in 2025

By: Simone Liedtke     21st October 2020 The South African coal industry will likely reach a tipping point by 2025, when renewable energy should be cheaper, both in terms of capital and operational expenditure, than existing coal-fired electricity capacity. This means that, by 2030, the South African coal landscape will look "completely... 

Cleaner coal tech to help South Africa reduce emissions, says Minerals Council 

By: Tasneem Bulbulia     21st October 2020 Coal is integral to South Africa, economically and socially, and will continue to play a pivotal role for many years to come; therefore, technology and innovation in the industry should be pursued to mitigate carbon emissions as part of the country’s just energy transition journey. This was... 

Aspasa tightens requirements for its members around fair competition, social aspects

By: Marleny Arnoldi     21st October 2020 The Aggregate & Sand Producers Association of Southern Africa (Aspasa) has introduced a new set of policies for members to uphold, which relate to all aspects of surface mining operations. Aspasa director Nico Pienaar says the code documents good, ethical behaviour and says that, while most... 

Redemption of $450m convertible bonds completed − Sibanye

By: Simone Liedtke     21st October 2020 About $383-million of the outstanding $383.8-million in outstanding bonds have been converted by bondholders of JSE- and NYSE-listed Sibanye-Stillwater’s wholly owned subsidiary Sibanye Gold, which in September exercised its option to redeem all outstanding bonds. Sibanye Gold had exercised its... 

Phola communities allowed to intervene in Thabong, South32 coal merger; SAEF's application dismissed

By: Simone Liedtke     21st October 2020 The Competition Tribunal has dismissed the South African Energy Forum’s (SAEF’s) application to intervene in proceedings regarding the proposed large merger between Thabong Coal and South32 South Africa Coal Holdings (South African Energy Coal or SAEC). 

Anglo stands ready to defend itself in lawsuit over lead poisoning in Zambia  

By: Marleny Arnoldi     21st October 2020 Anglo American South Africa has noted a class action lawsuit filed against it by Mbuyisa Moleele Attorneys and Leigh Day in the Gauteng High Court, related to lead poisoning claims stemming from the Kabwe mine, in Zambia. The lawyers filed the lawsuit on behalf of a class estimated to comprise... 

Nkomati Anthracite placed into business rescue

By: Marleny Arnoldi     21st October 2020 JSE-listed investment company Unicorn Capital Partners (UCP) has advised that its subsidiary, Nkomati Anthracite, has entered into business rescue. Daniel Terblanche has been appointed as the business rescue practitioner.  

Centamin lowers 2021 guidance to accommodate rehabilitation of Sukari openpit

By: Marleny Arnoldi     21st October 2020 After a solid performance in the third quarter, London- and Toronto-listed Centamin has maintained its production guidance for this year at between 445 000 oz and 455 000 oz. However, the company has set its guidance lower for next year, at between 400 000 oz and 430 000 oz, while work is... 

Wärtsilä wins 128 MW power contract at Grasberg

By: Mariaan Webb     21st October 2020 The technology group Wärtsilä has received contracts from PT Freeport Indonesia for a 128 MW power plant to supply electricity to the Grasberg mine. The plant will be located at Amamapare, PT Freeport Indonesia’s port site in Papua. From here, the electricity will be fed to the Grasberg mine... 

Wärtsilä wins 128 MW power contract at Grasberg

Sustainable shipping possible through platinum, fuel cells − WPIC

By: Simone Liedtke     21st October 2020 Shipping, which is vital to the global economy, is responsible for about 2.5% of the world’s total greenhouse-gas (GHG) emissions as it is reliant on fossil fuels for power to transport about 90% of all freight goods transported by sea. Like other forms of transport, the maritime sector has... 

Fresnillo lowers gold guidance, silver forecast unchanged

By: Mariaan Webb     21st October 2020 Mexico’s largest gold producer Fresnillo has lowered its 2020 guidance for gold, citing Covid-related work restrictions at its openpit mines, but the company kept its silver production outlook unchanged. The London-listed miner explained on Wednesday that it had to reduce the number of mine... 

Fresnillo lowers gold guidance, silver forecast unchanged

Atalaya buys polymetallic project near Riotinto mine

By: Mariaan Webb     21st October 2020 London-listed Atalaya Mining on Wednesday announced the acquisition of a polymetallic project about 28 km from its Proyecto Riotinto mine, in Spain. Atalaya will pay €1.4-million cash for the Masa Valverde project, located in Huelva. 

Gwalia issues affect St Barbara's bottom line

By: Esmarie Iannucci     21st October 2020 Gold miner St Barbara has seen gold production fall in the September quarter as the Gwalia project, in Western Australia, dealt with a seismic event and shift in the mine plan. Gold production for the three months to September reached 72 990 oz, compared with the 108 612 oz reported in the June... 

Gwalia issues affect St Barbara's bottom line

Cheaper gas on the cards for Gabanintha

By: Esmarie Iannucci     21st October 2020 ASX-listed Technology Metals Australia (TMT) has inked a memorandum of understanding (MoU) with fellow listed APA Group to investigate the provision of gas transportation services along a new pipeline supplying gas to the Gabanintha vanadium project. The proposed new 152 km pipeline will be... 

New Century maintains output

By: Esmarie Iannucci     21st October 2020 Base metals producer New Century Resources has reported another solid quarter of production from its namesake zinc mine, in Queensland. During the three months to September, New Century produced 33 633 t of zinc metal, which was down 2% on the previous quarter’s 34 363 t, with the company... 

Orca Gold upbeat about Sudan project as Trump signals terror list removal

By: Mariaan Webb     21st October 2020 Removing Sudan from the State sponsors of terror (SST) list will open “exciting opportunities” for investment in the African country, Canadian gold explorer and developer Orca Gold said this week, citing its Block 14 gold project as one of those opportunities. President Donald Trump tweeted on... 

Orca Gold upbeat about Sudan project as Trump signals terror list removal

Petra to hold special tender to sell five blue diamonds

By: Marleny Arnoldi     21st October 2020 London-listed Petra Diamonds has launched a special tender process for its Letlapa Tala Collection, which comprises five blue diamonds of significant colour, clarity, size and heritage. The diamonds were recovered from the company’s Cullinan mine, in Gauteng.  

Petra to hold special tender to sell five blue diamonds
Petra Diamonds' Letlapa Tala Collection

Fortuna pours gold at Lindero

By: Creamer Media Reporter      21st October 2020 NYSE- and TSX-listed Fortuna Silver Mines has reported the first gold pour from its Lindero mine in Salta, Argentina. The pour took place on Tuesday and produced 728 oz of gold. “The first gold pour at Lindero, our third mine in the Americas, is a significant achievement for the company as we... 

Fortuna pours gold at Lindero

Antofagasta reports Q3 copper output fall but keeps guidance

By: Reuters     21st October 2020 Chilean miner Antofagasta on Wednesday reported a 4.6% drop in third-quarter output on the previous quarter and said annual output was likely to be at the lower end of its 2020 guidance. Antofagasta produced 169 600 tonnes of copper during the third quarter down from the 177 700 tonnes in the... 

Biden’s energy policies will accelerate challenges for US thermal coal – Moody’s

By: Mariaan Webb     21st October 2020 Demand for thermal coal in the US will remain in secular decline in the 2020s, regardless of the outcome of the Presidential elections early next month, driven by a combination of factors, including persistently low natural gas prices and increasing emphasis on renewably energy. However, thermal... 

Biden’s energy policies will accelerate challenges for US thermal coal – Moody’s

Aeris reports a solid quarter

By: Esmarie Iannucci     21st October 2020 Metals miner Aeris Resources has reported a slight decline in copper production for the September quarter, compared with the June quarter, while first gold production was added to the company’s profile from the Cracow mine. Copper production in the three months to September reached 6 044 t, at... 

New Australian push for critical mineral investment

By: Esmarie Iannucci     21st October 2020 The federal government has launched its second edition of the Australian Critical Minerals Prospectus, showcasing the country’s significant capability in critical minerals in a bid to attract investment. The Prospectus identifies new significant commercial opportunities in hundreds of critical... 

Lynas increases production in Sept quarter

By: Esmarie Iannucci     21st October 2020 Rare earths miner Lynas has reported a significant increase in production of neodymium praeseodymium (NdPr) in the first quarter ending September, while total rare earth oxide production nearly doubled. Lynas on Wednesday reported that NdPr production for the three months under review increased... 

Gascoyne resumes ASX trading

By: Esmarie Iannucci     21st October 2020 Gold miner Gascoyne Resources has resumed trading on the ASX following the completion of a A$125-million recapitalization programme. As part of the recapitalization programme, Gascoyne undertook a capital raising which raised some a$85.2-million, with the miner telling shareholders on Wednesday... 

Macmahon wins Foxleigh work

By: Esmarie Iannucci     21st October 2020 ASX-listed Macmahon Holdings has been selected as the preferred tenderer for equipment hire and maintenance services at the Foxleigh coal mine, in Queensland, from March of next year. The work is expected to generate some A$250-million in revenue and would require Macmahon to spend some... 

Nordgold ups the ante in Cardinal battle

By: Esmarie Iannucci     21st October 2020 The directors of takeover target Cardinal Resources have urged shareholders not to take any action regarding an increased offer price from suitor Nordgold. Nordgold on Wednesday increased its offer price for Cardinal shares from 90c a share to A$1 a share, matching an offer from fellow-suitor... 

Kinross Gold not 'under pressure' to do deals, CEO says

By: Reuters     21st October 2020 Miner Kinross Gold does not feel under pressure to do deals, CEO Paul Rollinson said on Tuesday, playing down a media report that said it was eying the sale of its business in the Americas. "We don't feel under pressure," to do deals, Rollinson said, adding that its mines in the Americas are an... 

Kinross Gold not 'under pressure' to do deals, CEO says
Kinross CEO Paul Rolllinson

Platinum well positioned in hydrogen economy’s sweet spots – WPIC  

By: Martin Creamer     21st October 2020 The upcoming platinum demand of Hyundai alone could come close to taking up the total annual production of one of South Africa’s biggest platinum mines. Hyundai has stated categorically, in a double-page advertisement in The Economist of London, that it will be making 700 000 fuel cell stacks a... 

Platinum well positioned in hydrogen economy’s sweet spots – WPIC
World Platinum Investment Council research director Trevor Raymond interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Kinross reaffirms three-year outlook, provides longer-term view

By: Mariaan Webb     20th October 2020 Dual-listed Kinross Gold on Tuesday affirmed its three-year production outlook and provided details of its longer-term production profile, based on organic opportunities in its global portfolio. The miner would increase production by 20% from 2021 to 2023, with estimated production of about... 

Kinross reaffirms three-year outlook, provides longer-term view
The Fort Knox mine, in Alaska

NUM prepares for strike at Northern Cape mine

By: Marleny Arnoldi     20th October 2020 The National Union of Mineworkers (NUM) says it has declared a wage dispute with Assmang Operations, in the Northern Cape, after it was unable to reach a wage settlement with the iron-ore and manganese miner. The union initially demanded a 15% increase access the board, but lowered its demands... 

Freeport exec elected International Copper Association chair

By: Creamer Media Reporter      20th October 2020 Steve Higgins, senior VP and chief administrative officer of US-based Freeport-McMoRan, has been elected chairperson of the International Copper Association (ICA) and chairperson of the LME’s copper committee. ICA is a nonprofit organisation with 35 members, including Freeport-McMoRan, that... 

Diamcor closes first tranche of C$3.5m convertible loan

By: Creamer Media Reporter      20th October 2020 TSX-V-listed Diamcor Mining has closed the first tranche of a C$3.5-million convertible loan financing. The initial tranche included subscriptions from five investors for aggregate gross proceeds of C$954 500.  

Massive grid investment needed to unlock IRP’s 30GW-by-2030 vision  

By: Terence Creamer     20th October 2020 State-owned electricity utility Eskom is warning that a significant and accelerated expansion of South Africa’s grid infrastructure, beyond that catered for by its current R118-billion investment plan to 2030, is required to integrate the 30 GW of mainly wind and solar generators that will have... 

 Massive grid investment needed to unlock IRP’s 30GW-by-2030 vision

Botswana sees 7.7 % growth in 2021 on diamond industry recovery

By: Reuters     20th October 2020 Botswana's economy will rebound and grow 7.7% in 2021 from a 8.9% contraction forecast this year, on the back of improved sentiment in the global diamond industry, the finance minister said on Tuesday. Botswana's economy shrank by 24% in the second quarter of 2020 as coronavirus lockdowns at home... 

BHP ditches $2bn Olympic Dam expansion plan

By: Mariaan Webb     20th October 2020 Global diversified miner BHP has indicated that it will not proceed with the $2.1-billion brownfield expansion (BFX) project at its Olympic Dam mine, in South Australia, saying that the project's economics have encountered “challenges”. The BFX option, which was first announced in 2017, focused... 

BHP ditches $2bn Olympic Dam expansion plan
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