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South America News

Proudly South African world-first hydrogen breakthrough with Shell’s backing

By: Martin Creamer     Updated 24 minutes ago At this time of huge coronavirus uncertainty, the chests of a group of engineers here must surely be bulging with pride following their major Proudly South African world breakthrough that could speed up the global deployment of hydrogen as a competitive universal and environmentally friendly... 

Trevali says processing impacted by Peru emergency extension

By: Simone Liedtke     Updated 1 hour 17 minutes ago The Santander zinc/lead mine is continuing to operate during Peru’s national emergency, but TSX-listed Trevali Mining reported on Friday that the country’s extension of the emergency would impact on processing at the 2 000 t/d operation. The Vanouver-based miner said that it would not be able to... 

Rio sets aside A$25m for Covid-19 battle

By: Esmarie Iannucci     Updated 2 hours 51 minutes ago Major Rio Tinto has pledged $25-million in funding to support global grassroots community Covid-19 preparedness and recovery efforts. The additional investment would predominantly focus on value-in-kind opportunities, including the supply of masks and protective equipment to support emergency... 

BHP fights Covid-19 in Chile

By: Esmarie Iannucci     Updated 2 hours 53 minutes ago Diversified major BHP has launched an $8-million plan to help mitigate the spread of COVID-19 in Chile. The company over the weekend announced that it has combined efforts with the medical faculty of the Universidad Católica, to raise the testing capacity and strengthen the Familiar Health... 

Fitch Solutions says volatility to continue driving metals prices lower

By: Simone Liedtke     Updated 3 hours ago Research agency Fitch Solutions expects volatility to continue playing to the downside for metal prices in the coming weeks owing mainly to bearish investor sentiment on the back of the widespread Covid-19 pandemic. The agency notes that metal prices started the year on a strong footing as the... 

Fitch Solutions says volatility to continue driving metals prices lower

Mining could be enormous post-virus stabiliser – Minerals Council

By: Martin Creamer     29th March 2020 The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis  – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release. Post the coronavirus, South Africa would... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge

By: Martin Creamer     28th March 2020 South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) and the Motsepe family on Saturday formed the key part of the partnership of companies and organisations that have pledged R1 billion to assist with the current coronavirus (Covid-19) pandemic... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge
Photo by Creamer Media
Dr Patrice Motsepe and Dr Precious Moloi-Motsepe at Saturday's remote media conference using the Internet to ensure social distance.

Bolivia's largest mine suspends operations as virus controls tighten

By: Reuters     27th March 2020 Bolivia's San Cristóbal mine, a huge desposit of zinc, lead and silver, has suspended operations after the country imposed tough rules to halt the spread of coronavirus, its operator Minera San Cristóbal said in a statement on Friday. The company, a wholly-owned subsidiary of Japana's Sumitomo... 

AngloGold to conserve cash amid Covid-19 spread

By: Tasneem Bulbulia     27th March 2020 Gold miner AngloGold Ashanti is implementing cash conservation measures, including focused capital prioritisation and reducing non-essential spending across the business, and is well positioned to weather the current market uncertainty. At the end of 2019, the company had $463-million of cash,... 

Mitsubishi unpacks movement of PGM markets amid lockdowns

By: Marleny Arnoldi     27th March 2020 Mitsubishi Corporation International (MCI) says in its latest precious metals update that it expects South Africa’s platinum supply to reduce by around 7%, or by between 200 000 oz and 300 000 oz, in light of closed operations during South Africa’s 21-day national lockdown. The announcement by... 

Mitsubishi unpacks movement of PGM markets amid lockdowns

Covid-19 to further weaken US coal demand in an already diminishing market

By: Marleny Arnoldi     27th March 2020 US domestic demand for thermal coal will fall during the second quarter of the year as individual states shut down much of the industrial economy to try and stem the spread of Covid-19. This is according to Moody’s Investors Service, which states that, in broader terms, the global economy will... 

Covid-19 to further weaken US coal demand in an already diminishing market

Jangada curtails Pitombeiras drilling programme

By: Tasneem Bulbulia     27th March 2020 Natural resources company Jangada Mines has adapted its diamond drilling programme at the Pitombeiras Vanadium project, in Brazil, a measure taken to address the impact of Covid-19 on its activities. Given the prevailing environment, the company has decided to reduce the programme from 2 500 m to... 

Metals and mining M&A up in February relative to January

By: Rebecca Campbell     27th March 2020 Research and consultancy company GlobalData has reported that mergers and acquisition (M&A) activity in the global mining and metals sector during February was, in value, higher than in January, but still substantially lower than the average figure for the previous 12 months. It was also very far... 

Anglo American cuts South African iron-ore, coal guidance 

By: Donna Slater     27th March 2020 Diversified miner Anglo American is taking steps at its relevant operations in line with Covid-19-related regulations enforced in the various jurisdictions in which it operates around the world. It will also continue to provide a number of essential services, including security; mine... 

Covid-19 a wake-up call on import over-dependency – Madala

By: Martin Creamer     27th March 2020 The outbreak of Covid-19 internationally should be a wake-up call on the impact of South Africa’s dependency on imported products, Madala & Associates CEO Dilley Naidoo said on Friday. He urged that policies parallel to what was being implemented in the automotive sector should be prioritised in... 

Covid-19 a wake-up call on import over-dependency – Madala
Madala & Associates CEO Dilley Naidoo

Glencore winds down most operations in line with Covid-19 restrictions 

By: Donna Slater     27th March 2020 Diversified mining and marketing company Glencore, with operations internationally, is winding down most of its operations and putting them on temporary care and maintenance as lockdowns are enforced in various countries to slow the spread of Covid-19. The London- and Johannesburg-listed company... 

Centerra reports better-than-expected production from its two flagship mines

By: Marleny Arnoldi     27th March 2020 TSX-listed Centerra Gold reported a strong operating performance from its two mines in 2019, exceeding the company’s consolidated gold production and cost guidance. The Kumtor and Mount Milligan mines, in Kyrgyzstan and Canada's British Columbia, respectively, together produced about 783 300 oz... 

Centerra reports better-than-expected production from its two flagship mines
Photo by Reuters
Centerra's Kumtor mine

Freeport-McMoRan in talks over limited operations at Cerro Verde

By: Mariaan Webb     27th March 2020 NYSE-listed Freeport-McMoRan said on Thursday that it was in discussions with Peruvian authorities to allow the Cerro Verde mine to conduct limited operations during the country’s extended state of emergency, positioning the mine to return to normal operations when restrictions were lifted.... 

Freeport-McMoRan in talks over limited operations at Cerro Verde

South32 cuts expenditure as operations are adjusted 

By: Esmarie Iannucci     27th March 2020 Diversified miner South32 has announced a $160-million cut to capital expenditure over the next 15 months, with the miner also announcing a number of operational changes in response to COVID-19. In response to a 21-day lockdown in South Africa, Soutnh32’s manganese assets in that country, along... 

South32 cuts expenditure as operations are adjusted
South32 CEO Graham Kerr

Maya improves daily production capacity by 40%

By: Marleny Arnoldi     26th March 2020 TSX-listed Maya Gold & Silver has expanded production capacity at its Zgounder silver mine, in Morocco. The company has all the necessary elements and infrastructure in place to process 700 t/d, which is a 40% increase on the prior production capacity of 500 t/d.  

Serabi delays results, suspends production guidance in Brazil

By: Marleny Arnoldi     26th March 2020 Aim- and TSX-listed Serabi Gold has announced that the publication of its yearly results will be delayed to no later than April 14, as allowed by the Canadian securities regulatory authorities. The company’s financial statements for the three months and year ended December 31, 2019, would have... 

Sumitomo suspends operations in Bolivia, Madagascar

By: Simone Liedtke     26th March 2020 Diversified miner Sumitomo Corporation has temporarily suspended operations at its Minera San Cristobal silver/zinc/lead mining project, in Bolivia, as well as the Ambatovy nickel project, in Madagascar, to prevent the spread of Covid-19. In Bolivia and Madagascar, all-day or night curfews have... 

Official gold holdings head for 34 000 t as global risks heighten 

By: Martin Creamer     26th March 2020 Central banks and supranational organisations, such as the International Monetary Fund and the Bank of International Settlements, currently hold nearly 34 000 t of gold as reserve assets, the World Gold Council reported on Thursday. The council puts the primary reason for recent gold buying down... 

Official gold holdings head for 34 000 t as global risks heighten
Photo by World Gold Council
Gold bars.

Sandvik to cut costs due to coronavirus impact, reduces dividend

By: Reuters     26th March 2020 Swedish mining gear and metal-cutting tools maker Sandvik on Thursday launched large cost-cutting measures in response to the rapid global spread of the coronavirus and said it would reduce its proposed dividend for 2019. While the company, a rival of Sweden's Epiroc and US group Kennametal,... 

Sandvik to cut costs due to coronavirus impact, reduces dividend

Sunrise ‘making steady progress’ with mine permitting for US project

By: Simone Liedtke     26th March 2020 Aim-listed Sunrise Resources on March 26 said it was making steady progress with the mine permitting process for its CS Pozzolan-Perlite project, in the US. The process is currently at a very advanced stage, the miner said, and all supplemental environmental reports have been accepted as... 

Caledonia’s Zim mine can weather supply chain disruption from South Africa

By: Marleny Arnoldi     26th March 2020 London- and TSX-listed Caledonia Mining Corporation expects its Blanket mine, in Zimbabwe, to suffer some knock-on effects as a result of the three-week national lockdown in South Africa to curb the spread of Covid-19. The company expects knock-on effects on the mine owing to many of its mining... 

Caledonia’s Zim mine can weather supply chain disruption from South Africa
Caledonia's Blanket gold mine, in Zimbabwe

Imperial narrows loss to $40m

By: Marleny Arnoldi     26th March 2020 TSX-listed Imperial Metals in the year ended December 31, managed to narrow its net loss from continuing operations to $40.2-million from the $109-million loss reported in the year ended December 31, 2018. This amounted to a loss a share of $0.32 apiece in 2019, compared with a loss a share of... 

Imperial narrows loss to $40m
Imperial Metals' Huckleberry mine, in British Columbia

New gold futures contract launched – LBMA 

By: Martin Creamer     26th March 2020 A new gold futures contract just launched has expanded delivery options, London Bullion Market Association (LBMA) said on Thursday. The membership of LBMA, a gold and silver trade association, is made up of banks, traders and logistics companies across the world, resulting in it being given... 

New gold futures contract launched – LBMA
Photo by Creamer Media
LBMA executive board director Sakhila Mirza.

Newmont to host virtual AGM

By: Marleny Arnoldi     26th March 2020 NYSE- and TSX-listed gold and base metal producer Newmont Corporation has scheduled a virtual annual general meeting on April 21 in light of global Covid-19 social distancing practices. The virtual meeting complements other measures implemented at Newmont’s operations and offices globally to... 

Teranga’s operations proceeding as planned

By: Simone Liedtke     26th March 2020 TSX-listed Teranga Gold Corporation’s production, development and exploration are proceeding as planned, and the consolidated first-quarter production is likely to be between 85 000 oz and 90 000 oz, as expected. In a statement on March 25, COO Paul Chawrun indicated that this would be the... 

Calibre suspends Nicaraguan operations in the wake of Covid-19

By: Simone Liedtke     26th March 2020 TSX-listed Calibre Mining has started the legal process with the Nicaraguan Ministry of Labour to obtain authorisation for the temporary suspension of its El Limon and La Libertad mines. According to CEO Russell Ball, the company has implemented several mitigation measures across the business and... 

Operations resume at Fortuna’s San José mine

By: Simone Liedtke     26th March 2020 The illegal blockade of roads in the San José del Progreso municipality, which prevented access to NYSE- and TSX-listed Fortuna Silver Mines’ San José mine, in Mexico, has been lifted. Operations resumed on March 25 and started with the night shift. 

Barrick Gold ‘ticks all the boxes’ in 2019 financial year

By: Simone Liedtke     26th March 2020 In the first year following its merger with Randgold Resources, the restructured and refocused Barrick Gold Corporation has delivered a strong operational performance and made significant progress towards its goal of becoming the “world’s most valued gold company”, the miner said in its 2019... 

Barrick Gold ‘ticks all the boxes’ in 2019 financial year
Photo by Reuters
Mark Bristow

World Federation of Diamond Bourses to launch global trading platform soon

By: Marleny Arnoldi     26th March 2020 The World Federation of Diamond Bourses (WFDB) has created a World Federation Diamond Trading Platform to provide a secure and reliable source of trading amid uncertain times globally, while promoting trade and healthy competition in the diamond market. The cross-bourse trading platform will be... 

World Federation of Diamond Bourses to launch global trading platform soon

Hot Chili strikes production deal in Chile

By: Esmarie Iannucci     26th March 2020 Junior Hot Chili has accepted an offer from Chilean-government agency Empresa Nacional de Mineria (Enami) for the lease mining and processing of ore from the Productora copper/gold project, in Chile. Subject to a formal agreement, Enami would lease the mining concession for a period of two... 

Chile's copper miner Codelco suspends construction projects over coronavirus

By: Reuters     26th March 2020 Chile's Codelco, the world's largest copper miner, said on Wednesday it would temporarily suspend construction on some projects in a bid to halt the spread of coronavirus, as the company´s unions ratcheted up pressure for more safety measures. In a statement Codelco said the 15-day suspension... 

Online bullion accounts, ETFs the way to go amid Covid-19 lockdowns 

By: Marleny Arnoldi     26th March 2020 Now that supply of retail products is tightening amid Coronavirus contingency measures and lockdowns, investing in physical platinum without taking delivery of investment bars and coins is an accessible and cost-effective way of owning platinum, says the World Platinum Investment Council (WPIC).... 

Online bullion accounts, ETFs the way to go amid Covid-19 lockdowns

Coronavirus threatens copper giant Peru's 21-years of growth

By: Reuters     25th March 2020 Peru may be on track to record its first annual economic contraction in over two decades as the world's second largest copper producer is hammered by the impact of a global coronavirus pandemic hurting commodities demand. Around the country miners have been forced to slow or suspend operations... 

Coronavirus threatens copper giant Peru's 21-years of growth
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