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South America News
Investors worth $10.2tr press global miners for talks on Indigenous engagement
By: Reuters Updated 2 hours 50 minutes ago Institutional investors worth $10.2-trillion have written to the boards of global mining companies to better understand their engagement with First Nations people, in the wake of Rio Tinto's destruction of Juukan Gorge rockshelters. The group of 64 investors and their representatives, including... →
Alamos reports record third-quarter earnings, cash flow
By: Marleny Arnoldi Updated 3 hours ago TSX- and NYSE-listed Alamos Gold reported a solid financial and operational performance for the third quarter ended September 30, marked by lower costs from its two mines in Canada and one mine in Mexico. The company generated record free cash flow of $76-million in the quarter, resulting in a... →
Osisko nears completion of spin-out, reverse takeover transaction with Barolo
By: Marleny Arnoldi Updated 3 hours ago North American precious metal royalty company Osisko Gold Royalties says it is progressing the spin-out transaction and formation of Osisko Development Corporation with Barolo Ventures. Osisko earlier this month announced the creation of a new North American gold development company to advance... →
Orocobre's production falls
By: Esmarie Iannucci Updated 4 hours ago Dual listed lithium miner Orocobre has reported a fall in production for the three months to September, compared with the previous corresponding period, as Covid-19 restrictions took their toll. Lithium production during the three months under review reached 2 352 t, down from the 2 511 t... →
Gold demand recovering, but impact of possible 'second wave' of Covid-19 infections uncertain
By: Simone Liedtke Updated 6 hours ago Overall global gold demand decreased by 19% year-on-year to 892 t in the third quarter, owing largely to consumers still feeling the impact of the Covid-19 pandemic, says the World Gold Council (WGC) in its latest 'Gold Demand Trends' report. Published on October 29, the report indicates that... →
Wheaton's shares start trading on the LSE
By: Marleny Arnoldi 28th October 2020 TSX- and NYSE-listed precious metal streaming company Wheaton Precious Metals Corporation has started trading on the LSE main market, effective October 28. CEO Randy Smallwood says Wheaton’s business model offers UK investors a unique and appealing opportunity to gain exposure to precious... →
Atalaya launches feasibility study on scaled-up copper-cathode-producing plant
By: Marleny Arnoldi 28th October 2020 TSX- and Aim-listed Atalaya Mining has started with a feasibility study on its Proyecto Riotinto site, in Spain, to evaluate the economic viability of producing cathodes from complex sulphide ores prevalent in the Iberian pyrite belt. This will be done through the application of a new... →
Sandfire’s first deposit at Black Butte shows potential to produce 23 000 t/y of copper
By: Marleny Arnoldi 28th October 2020 ASX-listed Sandfire Resources America has announced a maiden mineral reserve of 8.8-million tonnes at 2.6% copper for 226 100 t of contained copper for the Johnny Lee deposit at the company’s Black Butte copper project. The company also published a feasibility study on the deposit, which is... →
Galaxy expectations remain intact
By: Esmarie Iannucci 28th October 2020 Lithium miner Galaxy Resources is on track to achieve its full year production guidance following a strong September quarter. Galaxy on Wednesday reported that the Mt Cattlin operation, in Western Australia, maintained steady production during the third quarter ending September, with the mine... →
Hopes rise as top firms arrive at potential flow-through share model to stimulate mining exploration 
By: Martin Creamer 27th October 2020 A flow-through share model has been drawn up with the help of top firms to stimulate badly neglected mining exploration in South Africa, Minerals Council South Africa junior and emerging miners leadership forum chairperson Errol Smart said on Tuesday. Speaking to Mining Weekly in a Zoom... →
Excitement as Sumitomo becomes AP Ventures’ latest hydrogen economy investor
By: Martin Creamer 27th October 2020 Leading Fortune 500 global trading and business investment company Sumitomo Corporation, which has a strong focus on the hydrogen economy, has become the latest investor in partnership with venture capital company AP Ventures Fund II. Sumitomo joins cornerstone investors such as South Africa’s... →
Andrew Hinkly
Decision soon on platinum process that can save a Medupi power station worth of power 
By: Martin Creamer 26th October 2020 The definitive feasibility study for the installation of a revolutionary new electricity-slashing processing plant at Pilanesberg Platinum Mine in the North West will be completed next month in time for an investment decision from the shareholders in KellTechnology South Africa, which are... →
Top copper nation says it can save glaciers without nixing mines
By: Bloomberg 26th October 2020 Chile’s government seeks to strike a balance between protecting glaciers and appeasing investors in the top copper producer -- even as the political opposition pushes a law that could constrain mining in such environmentally fragile areas. “We are in favor of protecting the environment including... →
Implats reports significant ESG progress for this year
By: Simone Liedtke 26th October 2020 Platinum group metals miner Impala Platinum (Implats) made significant progress on its environmental, social and governance (ESG) goals during this year, as highlighted in its ESG report released on October 26. Referring to the miner’s workforce specifically, a statement by social, transformation... →
Olaroz operations suspended owing to Covid cases
By: Esmarie Iannucci 26th October 2020 Lithium miner Orocobre has temporarily suspended operations at its Olaroz lithium facility, in Argentina, following positive Covid-19 tests at the site. The ASX- and TSX-listed miner said that operations have been suspended to allow cleaning of the site and rotation of staff after 35 employees... →
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... →
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... →
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... →
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... →
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... →
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... →
$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... →
Protesters sit-in at Brazil miner Vale dam burst site, demand aid extension
By: Reuters 23rd October 2020 Roughly 150 demonstrators staged a sit-in at Brazilian miner Vale's administrative building in the town of Brumadinho on Thursday to protest their treatment nearly two years after a deadly mining waste dam collapsed there, killing about 270 people. The protestors are demanding an extension of... →
China, Japan to lead platinum demand rebound over next four years
By: Marleny Arnoldi 23rd October 2020 Platinum demand is set to fall by 7.2% globally this year, on the back of lower demand from the automotive and jewellery sector. Typically, these sectors account for 34% and 24% of total demand, respectively, but Covid-19 had dampened the sector’s operations and their own demand, says data and... →
Freeport-McMoRan posts third-quarter profit on higher gold prices
By: Reuters 22nd October 2020 Freeport McMoRan Inc reported a quarterly profit on Thursday, compared to a loss a year earlier, benefiting from higher gold prices as uncertainty fueled by the Covid-19 pandemic pushed investors toward safe-haven assets. Net income attributable to shareholders was $329-million, or 22 cents per... →
Covid has highlighted the value of operating remotely – mining editor
By: Martin Creamer 22nd October 2020 The extraction of data from machinery to improve decision-making is a key benefit of the digital mine and has changed the way that mines manage their assets and perform machine maintenance, Australia Mining managing editor Ben Creagh said on Wednesday. Creagh was speaking during a virtual... →
Anglo American's third-quarter production recovers from Covid-19 impact
By: Marleny Arnoldi 22nd October 2020 Diversified mining group Anglo American has posted a 24% increase in production in the third quarter, compared with the second quarter of the year, while operating at 95% of normal capacity across its subsidiaries’ operations in regions including Canada, South Africa, Australia, Finland and South... →
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... →
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... →
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... →
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... →
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... →
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... →
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