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Latest News

Australia’s commodities heartland set for major hydrogen plant

By: Bloomberg     20th October 2020 The desolate red sands of the Pilbara region in western Australia, home to most of the iron-ore mines that account for a major chunk of the nation’s export income, may one day house an ambitious hydrogen export hub. The Asian Renewable Energy Hub, which would use electricity from wind and solar... 

GoviEx launches sampling programme to investigate precious metals potential at Falea

By: Marleny Arnoldi     20th October 2020 TSX-V-listed GoviEx Uranium has started a diamond drill core assay programme on the Falea deposit, in Mali. The objective of the sampling programme is to investigate the polymetallic and precious metals potential of the deposit below the uranium-bearing sandstone unconformity.  

Ivanhoe nears completion of Kakula mine development, processing plant 

By: Marleny Arnoldi     20th October 2020 Thanks to the "excellent" progress that has been made by TSX-listed Ivanhoe Mines in advancing the underground development of the Kakula mine, in the Democratic Republic of Congo, only 260 m of tunnelling remains until the access drives are connected. The northern and southern dual access... 

40 MW solar power application making good progress ­– Gold Fields  

By: Martin Creamer     20th October 2020 The application for the establishment of a 40 MW solar power plant at the South Deep gold mine in western Gauteng is in process and making good progress, Gold Fields CEO Nick Holland said on Monday. Responding to Mining Weekly during the Johannesburg- and New York-listed company’s virtual... 

40 MW solar power application making good progress ­– Gold Fields
Gold Fields ESG presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Orion Minerals returns to drilling

By: Esmarie Iannucci     20th October 2020 Copper developer Orion Minerals has launched a high-impact exploration programme at its Prieska project, in South Africa, to test prospective near-mine and regional targets. “We have compelling drill targets right across our Areachap tenement holdings in the Northern Cape that we have been... 

DGO takes a stake in Yandal

By: Esmarie Iannucci     20th October 2020 ASX-listed Yandal Resources has raised A$6-million through a share placement, with fellow-listed DGO Gold taking 8-million of the 12-million shares up for offer. DGO Gold now held an 8.7% interest in Yandal. 

Clean TeQ says goodbye to TSX

By: Creamer Media Reporter      20th October 2020 Australia-focused Clean TeQ Holdings has announced its voluntary delisting from trading on the Toronto exchange, with the company’s shares to be delisted after close of trade on November 5. The exploration and development company, which owns the Sunrise Dam cobalt-rich nickel deposit in New... 

Gold drops as investors look to Washington for stimulus deal

By: Bloomberg     20th October 2020 Gold fell after signs of progress in US stimulus talks aimed at reaching a deal ahead of the looming Presidential election. Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are narrowing their differences on a stimulus deal, a Pelosi aide said Monday. US equity futures advanced and the... 

Oceana completes C$150m raise

By: Esmarie Iannucci     20th October 2020 Dual listed gold miner OceanaGold has completed its C$150-million bought deal equity financing, issuing 73-million common shares at a price of C$2.06 each. The offered shares have been listed on the Toronto Stock Exchange. 

Macassa drilling results include 'extremely high-grade intersections'

By: Creamer Media Reporter      20th October 2020 Gold miner Kirkland Lake has reported new drill results from 135 holes (47 683 m) of underground exploration drilling from the Macassa mine, aimed at confirmed and extending resources in the SMC, LSMC and Amalgamated zones. Resources within the Amalgamated zone consist of a series of mineralised... 

BC needs a carbon tax that protects environment and jobs – mining association

By: Creamer Media Reporter      20th October 2020 Miners in British Columbia – a large steelmaking coal producer – have called for changes to the province’s carbon tax, arguing that playing field has to be levelled to aid final investment decisions and help the provincial economy recover and grow. The Mining Association of British Columbia... 

BC needs a carbon tax that protects environment and jobs – mining association

Jervois raises funds for US plans

By: Esmarie Iannucci     20th October 2020 ASX- and TSX-V-listed Jervois Mining has raised A$45-million through a share placement to order long lead items for its Idaho cobalt operation, and to fund detailed engineering and ongoing site costs. The share placement comprised of more than 147.5-million shares, issued at a price of 30.5c... 

Brazilian miner Vale hints at fourth-quarter production boost

By: Reuters     20th October 2020 Brazilian mining company Vale reported on Monday an increase in iron ore output in the third quarter and predicted a further boost in fourth-quarter output at some units, as a number of mines ramp up production or come online. In a securities filing, the company said it produced 88.7-million... 

Petra's shares fall as it announces proposed restructuring 

By: Creamer Media Reporter      20th October 2020 The share price of London-listed Petra Diamonds fell by nearly 10% on Tuesday morning, as it announced that it had reached an in-principle agreement with its lenders with respect to a long-term solution for the recapitalisation of the group and that it was no longer planning to sell the company... 

Petra's shares fall as it announces proposed restructuring
Photo by Creamer Media
Petra CEO Richard Duffy

Karlawinda on time - Capricorn

By: Esmarie Iannucci     20th October 2020 Junior Capricorn Metals will start the drawdown on an A$80-million Macquarie Bank debt facility to develop its Karlawinda gold project, in Western Australia, after satisfying all conditions precedent for the financing. Capricorn is expected to produce first gold at Karlawinda in the June quarter... 

Kayelekera restart to cost $50m

By: Esmarie Iannucci     20th October 2020 A scoping study into restarting the Kayelekera uranium project, in Malawi, has confirmed that the project could be one of the first to restart production in order to meet impending uranium supply shortfall. ASX-listed Lotus Resources told shareholders that the scoping study estimated that the... 

Kayelekera restart to cost $50m

Small mining companies knocked for falling behind on diversity

By: Reuters     20th October 2020 Small mining firms are failing to increase their hiring of women while trading companies have made little progress in boosting Black representation, an industry conference heard on Monday. Employment of women in the traditionally male mining sector has risen and averages between 5% and 15%,... 

Mali Lithium conducts project review

By: Esmarie Iannucci     20th October 2020 While a definitive feasibility study (DFS) into the Goulamina lithium project, in Mali, has proven the project’s economics, owner Mali Lithium has launched a review of both its lithium and gold assets to evaluate the ‘optimum path’ to realise value for shareholders. The DFS into the Goulamina... 

Perseus increases output in Sept quarter

By: Esmarie Iannucci     20th October 2020 Gold miner Perseus Mining ahs reported a 6% increase in production for the three months to September, as both the Edikan mine, in Ghana, and the Sissingue mine, in Cote d’Ivoire, continued to perform strongly. Gold production for the quarter reached a combined 68 772 oz, with Edikan producing 39... 

BHP posts solid quarter

By: Esmarie Iannucci     20th October 2020 Mining major BHP has reported a solid quarter of iron-ore and petroleum production, while coal production in the September quarter decreased. “BHP has started the new financial year with a strong first quarter of safety and production performance. Group production rose 2% from a year ago driven... 

BHP posts solid quarter

Oil Search cuts investments

By: Esmarie Iannucci     20th October 2020 ASX-listed Oil Search has lowered its capital investment guidance for 2020 as lower oil prices continued to prevail. The company on Tuesday noted that capital investment for the 2020 financial year is expected to reach between $390-million and $460-million, down from the previously budgeted... 

Deep-South closes second tranche to raise $2.41m 

By: Tasneem Bulbulia     19th October 2020 TSX-listed Deep-South Resources has closed a second tranche of the nonbrokered private placement for $1.04-million. The two tranches of the private placement have totalled $2.41-million. 

South Africa is well positioned to export green hydrogen ­– PwC  

By: Martin Creamer     19th October 2020 South Africa is in an extraordinary position to revolutionise its own economy and supply green hydrogen to the world, PwC said on Monday. “The energy transition is and will be biggest global theme this decade,” PwC associate director James Mackay told journalists at a virtual event covered by... 

South Africa is well positioned to export green hydrogen ­– PwC
PwC Hydrogen Report 2020 covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Eskom moves to secure R23bn granted by High Court for 2021, despite Nersa appeal  

By: Terence Creamer     19th October 2020 Eskom has launched a fresh legal bid to ensure that the automatic reintroduction of a R23-billion equity injection to its allowable revenue in 2021/22, as granted by the High Court in July, is not negated by the fact that the National Energy Regulator of South Africa (Nersa) has been granted... 

 Eskom moves to secure R23bn granted by High Court for 2021, despite Nersa appeal
Photo by Creamer Media's Donna Slater
Eskom CFO Calib Cassim presenting the utility's case at MYPD4 hearings in 2019

Shanta goes from strength to strength with New Luika plant

By: Marleny Arnoldi     19th October 2020 Aim-listed Shanta Gold says its processing plant at the New Luika gold mine, in Tanzania, continues to perform above its nameplate capacity, having milled 181 036 t in the quarter ended September 30, compared with the 176 415 t milled in the prior quarter. Shanta says plant expansions are on... 

South32 says Hermosa PFS delayed to next year

By: Mariaan Webb     19th October 2020 Diversified miner South32 has pushed out the completion of a prefeasibility study (PFS) for the Taylor deposit at the Hermosa base metals project, in Arizona, to the June 2021 half-year. The miner initially aimed to have a PFS for Taylor completed in the September quarter of this year. South32... 

South32 says Hermosa PFS delayed to next year

Low prices, demand results in drop in Afarak’s mining, processing volumes

By: Marleny Arnoldi     19th October 2020 LSE- and Nasdaq-listed Afarak Group has reported that its group production for the third quarter of the year at 40 766 t was 60.1% lower than the 102 219 t produced in the third quarter of 2019. This was owing to reduced mining activity in South Africa, the protection of staff amid Covid-19, low... 

Jervois Mining appoints sales GM

By: Tasneem Bulbulia     19th October 2020 Cobalt miner Jervois Mining has appointed Greg Young as executive GM of sales. Young is one of the world’s foremost traders of nickel and cobalt products, with extensive knowledge of the commodities, their materials flow, market indices and pricing strategies, the company says. 

Exxaro continues its role in ensuring food security, nutrition in communities

By: Marleny Arnoldi     19th October 2020 JSE-listed miner Exxaro Resources’ executive head of sustainability Mongezi Vetti has reiterated the company’s commitment to transferring its rehabilitated land to communities toward establishing agro-economies. This follows after President Cyril Ramaphosa on October 5 spoke about government’s... 

Exxaro continues its role in ensuring food security, nutrition in communities
Exxaro Resources’ executive head of sustainability Mongezi Vetti

Contango acquires quick-to-production project in Mali

By: Marleny Arnoldi     19th October 2020 London-listed Contango Holdings has acquired the Garalo project, in Mali, for $1-million. Contango states that the acquisition speaks to the company’s strategy of acquiring defined assets with near-term production potential and modest capital requirements.  

BlueRock sells 2 900 ct diamond parcel

By: Tasneem Bulbulia     19th October 2020 Aim-listed BlueRock Diamonds has sold 2 900 ct of diamonds recovered from its Kareevlei mine, in the Kimberley region of South Africa, at an average price of $300/ct for an aggregate consideration of $870 165.  “This is the third successful private sale conducted through an agent in South Africa... 

Omnia intends to sell Oro Agri business

By: Marleny Arnoldi     19th October 2020 JSE-listed chemicals group Omnia Holdings has reached an agreement to sell its Oro Agri business to Rovensa – a European-based business that procures and distributes biocontrol, bionutrition and crop protection solutions. Omnia in June received a nonbinding offer for the business, which... 

Omnia intends to sell Oro Agri business
Omnia CEO Seelan Gobalsamy

Pensana starts exploration at Coola

By: Esmarie Iannucci     19th October 2020 Exploration has started at ASX- and LSE-listed Pensana Rare Earth’s new Coola project, adjacent to its Longonjo neodymium-praseodymium (NdPr) project, in Angola. Pensana said on Monday that initial field programmes have started to test defined targets prospective for a range of critical... 

Lundin suspends Candelaria operations on pending strike

By: Mariaan Webb     19th October 2020 Mediation with the Candelaria AOS Union has failed and the 550 workers who are affiliated with the union at the Candelaria mine, in Chile, will down tools on Tuesday. This is the second union that is downing tools, with the Candelaria Mine Workers Union continuing with its labour action, which... 

MCA paying attention to Juukan Gorge inquiry

By: Esmarie Iannucci     19th October 2020 The Minerals Council of Australia (MCA) has refuted claims by Western Australia senator Pat Dodson, who accused diversified miner Rio Tinto of ‘incremental genocide’ during a Parliamentary Inquiry into the destruction of the Juukan Gorge caves. Speaking at the Inquiry, Dodson was quoted by the... 

Fenix awards Iron Ridge contract

By: Esmarie Iannucci     19th October 2020 Junior Fenix Resources has awarded an A$185-million contract to fellow listed MACA for drill and blast, mining, and crushing and screening activities at the Iron Ridge project, in Western Australia. Early stage works at Iron Ridge started in September, and MACA is currently mobilising heavy... 

Weekly Coal Index Report

19th October 2020 The Chinese ban on Australian imports has wrought confusion amongst traders, with many finding innovative ways to get their cargoes sold. Diplomatic relations between the countries soured ever since Australia’s ban on Huawei and blaming China for Covid-19. However, as coal supplies tighten ahead... 

Weekly Coal Index Report

Cameco moves to reset debt maturity profile

By: Creamer Media Reporter      19th October 2020 Uranium miner Cameco is taking advantage of the favourable debt capital markets to reset its maturity profile of long-term debt, announcing a private placement of senior unsecured debentures consisting of $400-million of 2.95% senior unsecured debentures, Series H maturing on October 21, 2027.... 

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