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South America News

Diamcor reports strong quarterly sales so far

By: Marleny Arnoldi     15th June 2021 TSX-V-listed Diamcor Mining has sold 4 468 ct so far for the quarter to end on June 30, generating revenue of $1.2-million. About 1 500 additional carats, including several rough diamonds in the +10.8 ct specials category, have been delivered as of June 15.  

300-plus vehicle fleets assessed for cleaner, safer mine mobility in five regions – ICMM 

By: Martin Creamer     15th June 2021 As part of the cleaner, safer vehicles initiative of the International Council on Mining and Metals (ICMM), more than 300 vehicle fleets have this year been assessed for cleaner, safer mobility on more than 300 mines in five regions globally, ICMM health, safety and product stewardship director... 

300-plus vehicle fleets assessed for cleaner, safer mine mobility in five regions – ICMM
International Council on Mining and Metals’ Sarah Bell interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Copper’s supercharged rally creaks on signs of softer demand

By: Bloomberg     15th June 2021 Copper’s stellar rally is starting to creak as investors unwind their bullish bets and evidence of demand weakness mounts in China’s powerhouse manufacturing sector. Prices plunged as much as 4.3% in London, crashing through their 50-day moving average to trade at a seven-week low. Copper hit an... 

Copper’s supercharged rally creaks on signs of softer demand

South African ferrochrome furnaces need to regain competitive advantage, warns Roskill 

By: Simone Liedtke     15th June 2021 The South African ferrochrome industry has benefitted from recent events in China, which commodity research consultancy Roskill says has removed significant global capacity through the closure of small furnaces. While higher-cost furnaces in southern China have been able to fill the short-term... 

South African ferrochrome furnaces need to regain competitive advantage, warns Roskill

White House highlights manganese as potential preferred battery element contender 

By: Martin Creamer     14th June 2021 The White House document on revitalising American manufacturing and fostering broad-based economic growth pays particular attention to South Africa as the world’s largest supplier of manganese, and to manganese as a potential preferred battery element contender, Mining Weekly can today report.... 

White House highlights manganese as potential preferred battery element contender
Photo by Creamer Media
The White House on building supply chains.

Vale mulls remote-controlled trains to work around risky dam in Brazil

By: Bloomberg     14th June 2021 Iron-ore giant Vale is considering the use of remote-controlled trains near a tailings dam that Brazilian authorities say risks collapsing and getting workers buried. It would take around 60 days for Vale to implement the solution, according to a person familiar with the plan, who asked not to... 

Platinum jewellery sales continue to record strong rebound

By: Simone Liedtke     11th June 2021 Despite ongoing challenges escalated by the Covid-19 pandemic, platinum jewellery retailers and manufacturers report a sustained recovery across three of four key markets in the latest ‘Platinum Jewellery Business Review (PJBR)’ report for the first quarter of this year. The strong momentum is... 

Ex-AngloGold CEO joins lithium developer’s board

By: Creamer Media Reporter      11th June 2021 Kelvin Dushnisky has been appointed to the board of developer Lithium Americas, which focuses on projects in Argentina and Nevada. Dushnisky was the CEO of gold major AngloGold Ashanti and prior to that, he was at Barrick Gold for 16 years, including serving as president. Lithium Americas also... 

Ex-AngloGold CEO joins lithium developer’s board
Kelvin Dushnisky

Lithium major Albemarle to boost extraction in search for green growth

By: Bloomberg     11th June 2021 The world’s biggest lithium producer is proceeding with a project to extract more of the battery metal from the brine it pumps up from a Chilean salt flat in a sign of its confidence in the country and global demand. Albemarle is introducing a way of extracting more of the lithium that’s... 

Lithium major Albemarle to boost extraction in search for green growth

Samarco offers creditors shares or 85% haircut - sources

By: Reuters     11th June 2021 Samarco Mineracao, a bankrupt joint venture between Brazilian miner Vale and BHP Group, proposed on Thursday a plan to restructure 50-billion reais ($10-billion) in debt with an offer of preferred shares or a cash payout in 2041 equal to 15% of the current value of holdings, sources said.... 

Allow geologists from surrounding African countries to boost SA's exploration rebirth, top explorer advises  

By: Martin Creamer     11th June 2021 Exploration geologists from surrounding countries should be allowed into South Africa to boost exploration. That is the view of Exploration Geology Consultants exploration manager Thinus Jordaan, who believes that South Africa’s planned exploration thrust should focus on commodities required in... 

Allow geologists from surrounding African countries to boost SA's exploration rebirth, top explorer advises
Exploration manager Thinus Jordaan interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Ganfeng exercises participation right in Sal de la Puna

By: Mariaan Webb     11th June 2021 Chinese group Ganfeng Lithium has exercised its project participation right to acquire a 35% interest in the Sal de la Puna (SDLP) lithium brine project, in Argentina, Arena Minerals reported on Thursday. The TSX-V-listed junior in March announced an agreement to acquire 100% of SDLP, which... 

Iron-ore scales over three-week high on China demand, supply risks

By: Reuters     11th June 2021 Iron-ore futures jumped on Friday to their highest in more than three weeks, as a rebound in steel inventory in top producer China suggested that demand for the raw material remained brisk. The most-traded September iron ore on China's Dalian Commodity Exchange rose as much as 4.1% to 1 226 yuan... 

Coal expected to remain dominant source of power in the coming decade - Fitch Solutions

By: Simone Liedtke     10th June 2021 Coal is expected to remain the dominant source of power for most of Southeast Asia and Australia in the coming decade, at least, and Fitch Solutions Country Risk and Industry Research says that will support the mining of coal and coal trade in the region. Coal currently remains the most practical... 

Ero Copper to list on NYSE

By: Creamer Media Reporter      10th June 2021 Vancouver-headquartered Ero Copper has received approval from the NYSE for a US listing of common shares. Trading will start on June 15, the company said in a statement on Thursday, adding that its shares will continue to trade on the TSX. “We believe this US listing is an important milestone... 

Sandvik expects bigger market for battery-driven mining gear in two to three years

By: Reuters     10th June 2021 Sandvik expects the market for battery-electric underground mining equipment to hit a higher gear in two to three years, as mining companies attempt to lower emissions and cut costs. With an electrification boom looming, Sandvik, whose competitors include Epiroc and Caterpillar, could sell more... 

GoviEx reports positive gold drilling results at Mali project

By: Simone Liedtke     10th June 2021 TSX-V-listed GoviEx Uranium has received positive gold assay results following the completion of its air-core drilling programme on the Madini exploration licence, which is part of the company’s Falea uranium project, in Mali. International Drilling Company (IDC), from Senegal, conducted a... 

Investors with $41tr ask G7 to stop subsidising fossil fuels

By: Bloomberg     10th June 2021 A coalition of investors overseeing a combined $41-trillion of assets have called on world leaders to set more ambitious greenhouse-gas emissions targets and end support for fossil fuels. DWS Group, Legal and General Investment Management and Pacific Investment Management Co were among 457... 

Azure puts Mexican assets up for sale

By: Marleny Arnoldi     10th June 2021 Precious and base metals miner Azure Minerals has decided to let go of its Alacrán silver/gold/copper and Oposura zinc/lead/silver projects, following the conclusion of a four-month strategic review of its assets in Mexico. The company has decided to focus on advancing its Andover project, in... 

Vale's decomissioned Brazil dam at risk of collapse, labour body says

By: Reuters     10th June 2021 Iron-ore miner Vale's decomissioned Xingu dam is at "imminent risk of collapsing," according to a statement on Wednesday by the Regional Labour Department for the southeastern Brazilian state of Minas Gerais. The Xingu tailings, or mining waste, dam in the town of Mariana, already devastated by... 

Student research helps improve biodiversity at Rio’s Bingham mine

By: Marleny Arnoldi     9th June 2021 A partnership between Rio Tinto Kennecott and the Brigham Young University (BYU) has started bearing fruit for improved reclamation at the Bingham Canyon mine, in Utah, in the US. The mine is one of the largest man-made openpit excavations in the world, having produced more than 20-million tons... 

Secretive world of diamonds is in the grips of a buying frenzy 

By: Bloomberg     9th June 2021 At the latest De Beers diamond auction this week, buyers shopping for the kind of stones used to make an average engagement ring were in for a sticker shock: some prices had ballooned by 10% since the last sale. News of the unusually sharp increases spread swiftly through the community of 80-odd... 

Vale to pay $2.5bn to settle liabilities in Mozambique mine corridor

By: Reuters     9th June 2021 Miner Vale SA will settle in advance liabilities of around $2.5-billion related to the project finance for the Nacala logistic corridor (CLN) that serves a coal mine in Mozambique, the company said in a securities filing on Tuesday. With the payment, scheduled for June 22, Vale said it will have... 

Regenerative coal mining crucial part of just transition to green economy – Bevan Jones 

By: Martin Creamer     9th June 2021 A shift to “regenerative mining” of coal reserves is a crucial part of a solution to a greener, cleaner future, said African Source Markets CEO Bevan Jones on Wednesday. Jones, a former commodity trader at Macquarie and Rand Merchant Bank, who cofounded the global coal market in London in the... 

Regenerative coal mining crucial part of just transition to green economy – Bevan Jones
African Source Markets CEO Bevan Jones

Iron-ore jumps on supply concerns, shrugs off China price watch

By: Reuters     9th June 2021 Iron-ore futures rose on Wednesday, with the Dalian benchmark contract gaining up to 5.4% after a three-day slump, as worries over supply boosted prices of the steelmaking raw material. The most-traded September iron-ore on China's Dalian Commodity Exchange ended daytime trading 4% higher at 1... 

BHP Spence copper mine workers in Chile to extend talks for two days - union

By: Reuters     9th June 2021 Workers at BHP Group's Spence copper mine in Chile said on Wednesday they would extend negotiations with the company for a few more days to try to reach agreement on a new contract and avoid a strike at the operation, the union told Reuters. The union representing 1 100 workers at the mine in... 

Politics set to keep a lid on investments in Peru

By: Bloomberg     9th June 2021 There are signs that Peru’s likely next president will be less of an enemy to mining than first feared. But until the policy environment becomes clearer, don’t expect the No. 2 copper supplier to see major new investments. With more than 95% of ballots counted, left-winger Pedro Castillo has a... 

BHP speeds up global small business payments

By: Esmarie Iannucci     9th June 2021 Diversified miner BHP on Wednesday announced that from July 1, the company would implement seven-day payment terms for all small, local and indigenous businesses across its global operations. The change is expected to benefit approximately 4 000 supply partners across 31 countries, including the... 

New Moody’s scores to reflect ESG risks

By: Marleny Arnoldi     8th June 2021 Ratings agency Moody’s has published environmental, social and governance (ESG) issuer profile and credit impact scores for various rated issuers in the global metals and mining sector. This follows on the agency’s publication of ESG scores for a range of corporate issuers, utilities and US... 

South Africa accounts for half of ICMM members' mining fatalities

By: Marleny Arnoldi     8th June 2021 A latest safety performance report by the International Council on Mining and Metals (ICMM) finds that South Africa had the highest fatality rate last year, accounting for 50% of all fatalities globally. The country recorded 22 fatalities from 422-million hours worked. 

South Africa accounts for half of ICMM members' mining fatalities

Aguia secures loan to fund phosphate project

By: Mariaan Webb     8th June 2021 Australia-listed Aguia Resources has announced a A$3.75-million loan from the Development Bank of Southern Brazil (BRDE) to fund the Tres Estradas phosphate project. Combined with the A$4.48-million that Aguia has in the bank, the company now has sufficient capital to fund the A$7.37-million... 

Central banks expected to buy the same amount of gold as last year, says WGC 

By: Simone Liedtke     8th June 2021 Central banks continue to be positive on gold, with about the same number of central banks expected to buy gold compared with last year, the World Gold Council (WGC) said on June 8. In its the ‘2021 Central Bank Gold Reserves (CBGR)’ survey, the council noted that 21% of central banks intend to... 

Central banks expected to buy the same amount of gold as last year, says WGC

Mining firms with higher ESG ratings outperform market – PwC  

By: Martin Creamer     8th June 2021 Mining companies with higher environmental, social and governance (ESG) ratings outperformed the broader market during the peak of the Covid-19 crisis, delivering 34% average total shareholder return over the past three years — ten percentage points higher than the general market index,  PwC... 

Mining firms with higher ESG ratings outperform market – PwC
PwC Mine 2021 Report covered by Mining Weekly’s Martin Creamer. Video: Nicholas Boyd

Lucara recovers 470 ct diamond at Karowe

By: Simone Liedtke     8th June 2021 Lucara Diamond has recovered a 470 ct top light brown clivage diamond from its wholly owned Karowe diamond mine, in Botswana. The 470 ct diamond was recovered in the coarse XRT circuit and represents the third diamond weighing more than 300 ct recovered to date this year. 

Miners due better year in 2021 - report

By: Esmarie Iannucci     8th June 2021 New research from PwC has found that the world’s top 40 miners could report record high revenues and earnings in 2021, and the second highest net profits in 18 years. In its Mine 2021 report, PwC noted that strong commodity prices propelled market capitalisation to rise by 64% on 2019 figures to... 

Miners due better year in 2021 - report

Gold ETFs add $3.4bn to supply, reversing three months of net outflows

By: Simone Liedtke     7th June 2021 Global gold exchange-traded funds (ETFs) added 61.3 t, valued at about $3.4-billion, in May, reversing three straight months of net outflows, which the World Gold Council (WGC) says is largely a function of investment demand increasing with the price strength of gold, along with renewed inflation... 

Court order forces steelmaker CSN to upgrade safety in dam in Minas Gerais

By: Reuters     7th June 2021 The government of Minas Gerais state said it had obtained a court injunction forcing steelmaker Companhia Siderurgica Nacional to upgrade safety at a mining dam. A judge on Thursday ordered CSN, as the company is known, to work on the safety of the Fernandinho dam, or pay a daily fine of... 

Chilean union, BHP kick off labour talks at world's largest copper mine

By: Reuters     7th June 2021 The union of workers for BHP's sprawling Escondida mine said on Friday it had delivered an initial proposal for a new collective labor contract, marking the opening salvo in much-watched negotiations at the world's largest copper deposit. BHP confirmed receipt of the proposal in a brief... 

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