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Pt 854.50 $/oz Change: -22.40
 

South America News

Sibanye to restart South African gold mines in a phased manner

By: Marleny Arnoldi     13th June 2022 JSE- and NYSE-listed Sibanye-Stillwater will restart its South African gold operations in a phased manner over the next two to three months, in order to ensure the safety of the operations and employees. This follows after it and unions the Association of Mineworkers and Construction Union... 

Recycling not sufficient to supply EV demand - Woodmac

By: Esmarie Iannucci     13th June 2022 Lithium-ion battery recycling alone will be unable to meet global demand for battery raw materials, researcher Wood Mackenzie (Woodmac) said. The electrification of the transportation sector has caused a boom in demand for lithium-ion batteries, and global cumulative lithium-ion battery... 

Glencore to automate drilling in first phase of digital mining journey 

By: Martin Creamer     13th June 2022 Diversified mining and marketing company Glencore is to convert surface drills in Chile to autonomous operation as part of the first phase of a digital mining journey. Glencore's Compañía Minera Lomas Bayas copper mine in the Atacama Desert, northern Chile – which extracts low-grade copper oxide... 

Picture provided by Flanders
Glencore to convert surface drills to autonomous operation in Chile.

Chile government to consider copper producers' cost variations in new royalty bill

By: Reuters     13th June 2022 The disparity in costs faced by different copper mining companies in Chile will be taken into account in an industry-wide royalty planned by the government to help finance its ambitious social agenda, the undersecretary of Mining said on Friday. A study by the national Chilean Copper Commission... 

Chile and Ecuador restart copper talks after yearslong impasse

By: Bloomberg     13th June 2022 After a yearslong deadlock, Ecuador and Chile have resumed negotiations over a partnership to develop a major copper deposit just as demand for the wiring metal is set to surge in a nascent clean-energy transition. Chile’s state copper producer Codelco agreed to a request by its Ecuadorian... 

An image of Ecuador Energy and Mines Minister Xavier Vera
Ecuador Energy and Mines Minister Xavier Vera

Future metals beneficiation bonus on way for already hugely endowed Northern Cape 

By: Martin Creamer     10th June 2022 Modern technology and global decarbonisation demand is positioning South Africa’s already incredibly well-endowed Northern Cape with big beneficiation bonanza potential, in addition to being a green minerals, green metals and green energy haven. Rapidly developing clean beneficiation technology... 

Creamer Media screenshot.
Future-facing metals in abundance in Northern Cape.

Copper wilts on renewed China lockdowns and recession fears

By: Reuters     10th June 2022 Copper prices extended their decline on Friday as investors fretted over the prospect of weak economic growth hitting metals demand after renewed Covid-19 lockdowns in China and increases to interest rates. Three-month copper on the London Metal Exchange (LME) fell 0.3% to $9 583.50 a tonne by... 

Greenlight's Einhorn sees gold going 'higher, perhaps much higher'

By: Reuters     10th June 2022 Greenlight Capital hedge fund manager David Einhorn said on Thursday that the Federal Reserve is pretending it can tame inflation and that the price of gold is likely to go higher amid the current environment of rising prices. "The question is whether there's enough gold to back the currency... 

Greenlight's Einhorn sees gold going 'higher, perhaps much higher'

Small remaining equity needed for restart of rich old copper mine in Northern Cape 

By: Martin Creamer     9th June 2022 A mine that produced some of South Africa’s best copper and zinc concentrates back in the day is capable of being brought back into production in 19 months after reconstruction go-ahead. Only a very little portion of equity is still required for the restart of the Prieska copper/zinc mine, which... 

Creamer Media screenshot
Where Orion Minerals is developing mines.

Vale moves closer to developing nickel sulphate operation in Canada

By: Reuters     9th June 2022 Brazilian miner Vale said on Thursday it had completed studies for potentially developing a nickel sulphide operation in Quebec, Canada, with annual capacity seen at 25 000 t. A final investment decision will depend on a number of additional factors including regulatory approval and needs from... 

Vale moves closer to developing nickel sulphate operation in Canada

American startup EnergyX out of Bolivian lithium race

By: Reuters     9th June 2022 American startup EnergyX and Argentine energy firm Tecpetrol have been disqualified from a race to mine Bolivian lithium, the government said, as the country aims to tap its vast resources in partnership with one or more foreign companies. Bolivia has the world's largest lithium resources but it... 

Gold’s haven appeal burnished by drumbeat of growth warnings

By: Bloomberg     9th June 2022 Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2 000/oz. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven, according to speakers... 

An image of gold bars

Vale creates venture capital arm to spur mining innovation

By: Bloomberg     9th June 2022 Vale, the world’s No. 2 iron-ore producer and one of the biggest nickel suppliers, has created a corporate venture capital arm to back startups focused on developing game-changing innovations for mining and metals challenges. Vale Ventures is starting with a $100-million budget to invest in... 

JSE recounts rousing tent-to-tech journey as Southern Palladium turns listing tide  

By: Martin Creamer     8th June 2022 The first in-person listing of the Johannesburg Stock Exchange since covid heard the African kudu horn serenade an opening bid of R6.90 a share for platinum group metals (PGMs) company Southern Palladium, which on Wednesday took its place on the JSE’s main board as a secondary listing under the... 

Creamer Mdedia screenshot.
Southern Palladium’s JSE listing covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Peru calls for new Las Bambas talks as police hint at eviction plan

By: Reuters     8th June 2022 Peru's government on Tuesday called for a new round of talks with protesting indigenous communities that have forced MMG's Las Bambas mine to suspend operations for over a month, as the police suggested that they were ready to intervene. The government of Peru, the world's No. 2 copper producer,... 

Bolivia still evaluating six firms for lithium mining partnerships

By: Reuters     8th June 2022 Bolivia has narrowed to six from eight the list of competing foreign firms vying to tap its vast lithium resources, Energy Minister Franklin Molina said on Tuesday, part of the country's most ambitious effort yet to extract the metal. Bolivia has the world's largest resources of lithium, the... 

Increased efficiency cuts carbon, advances net-zero path, research finds  

By: Martin Creamer     8th June 2022 Like all other key industries, mining is having to advance along a net-zero path as part of the global decarbonisation drive. Gone are the days when innovation and financial improvement can be sold on their own without a carbon advantage. (Also watch attached Creamer Media video.) 

Creamer Media screenshot.
Rocsole CEO Mika Tienhaara interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Antofagasta reports Los Pelambres concentrate pipeline leak

By: Mariaan Webb     7th June 2022 Copper miner Antofagasta said on Tuesday that a leak had been detected in the underground pipeline that transports concentrate from the Los Pelambres concentrator plant to the port at Los Vilos, in Chile. The leak, which was detected a week ago, did not cause any environmental damage, the London... 

ETFs shed $3bn worth of gold assets in May

By: Marleny Arnoldi     7th June 2022 The World Gold Council (WGC) reports that outflows of global gold-backed exchange-traded funds (ETFs) have ended their four-month run of positive inflows, with outflows totalling 53 t, or $3.1-billion, in May. While this was the largest monthly outflow since March 2021, total holdings remain 8%... 

Rare earths mining marking time amid prospecting bid to explore on same site 

By: Martin Creamer     7th June 2022 A rare earths development is marking time owing to a prospecting right appeal to explore where a mining right has already been granted, Steenkampskraal chairperson Trevor Blench disclosed at last week’s Junior Indaba. The Steenkampskraal mine contains all fifteen rare earths, including those that... 

Picture supplied
Steenkampskraal chairperson Trevor Blench.

Moody's expects most commodity prices to remain high over short term

By: Marleny Arnoldi     7th June 2022 Financial research firm Moody’s Investor Service says in its latest outlook for metals and mining that most commodity prices will remain high for the time being, supporting increases in earnings for many companies. Particularly, base metals prices will remain high and volatile, as prices for... 

AngloGold to earn into Latin Metals’ Argentina projects

By: Mariaan Webb     7th June 2022 Bullion major AngloGold Ashanti has been granted an option to earn up to 80% interest in three gold projects owned by Latin Metals in Salta province, north-western Argentina. The South Africa-headquartered major has an option to earn a 75% interest in the Organullo, Ana Maria, and Trigal Gold... 

Nexa searches for new CFO as Menck resigns

By: Creamer Media Reporter      7th June 2022 Latin America-focused zinc producer Nexa Resources has initiated a search for a new finance chief after Rodrigo Menck resigned as CFO on Monday. Menck joined Nexa in 2016 and served as head of treasury and investor relations before being nominated as CFO in January 2019. President and CEO... 

Kamoa-Kakula delivers record monthly copper output

By: Marleny Arnoldi     6th June 2022 TSX-listed Ivanhoe Mines’ Kamoa-Kakula mining complex, in the Democratic Republic in Congo, has set a new monthly production record, with 29 800 t of copper in concentrate produced in May. The operation achieved record output despite planned interruptions during the month, such as scheduled... 

Kamoa-Kakula copper mining complex, in DRC
Kamoa-Kakula copper mining complex, in DRC

AECI Mining’s new CEO aims to cut carbon footprint, grow outside Africa 

By: Irma Venter     6th June 2022 Newly appointed AECI Mining CEO Mark Kathan (51) says his main focus over the medium term will be the greening of the company’s manufacturing and logistical footprint, while also growing the firm’s presence in the rest of the world. Kathan, the former AECI CFO, put up his hand for the top job at... 

Image of AECI Mining CEO Mark Kathan 
AECI Mining CEO Mark Kathan 

Iron-ore extends gains above $140 on optimism for China demand

By: Reuters     6th June 2022 Iron-ore topped up its biggest weekly gain in 13 weeks as traders tracked China’s moves to rein in Covid-19 restrictions that have weighed on steel demand this quarter. Futures in Singapore crept higher on Monday morning after surging more than 7% last week on optimism over China’s plans to get... 

Iron-ore extends gains above $140 on optimism for China demand

Canadian miner Teck sets nature-positive goal

By: Creamer Media Reporter      6th June 2022 Diversified miner Teck Resources has committed to conserve or rehabilitate at least three hectares for every hectare disturbed by its mining activities as part of a goal of becoming a nature positive company by the end of the decade. Through land conservation investments, Teck will protect 14... 

An image of Elmo Lake, part of the Next Creek headwaters
Elmo Lake, part of the Next Creek headwaters

Peru Cabinet seeks solution for Las Bambas crisis as leftists urge nationalisation

By: Reuters     6th June 2022 Peru's Cabinet was meeting on Friday to try and find a truce to the ongoing conflict that has paralyzed operations at MMG's Las Bambas copper mine, as some left-wing lawmakers suggest nationalizing the company would be the solution. Operations at Las Bambas, one of the world's largest copper... 

Argentine mining companies condemn lithium export price set by government

By: Reuters     6th June 2022 The price for lithium exports set by Argentina's government earlier this week could limit the country's ability to profit from the increasingly hot market for the crucial electric vehicle battery material, an industry group said Friday. Argentina's customs agency set a reference price of $53 per... 

Circular economy prompting steel, oil, carbon recovery from end-of-life mine truck tyres  

By: Martin Creamer     6th June 2022 Highest and best use of ultra-large end-of-life mine truck tyres is being brought about by a change to the model in which resources are mined, made into products, and then become waste. Just one of these giant tyres can weigh 4.5 t and stand 14 feet tall. Put five of the 63-inch variety into a... 

Picture supplied.
Kal Tire’s Dan Allan speaks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Giyani on track to publish feasibility study in Q3

By: Marleny Arnoldi     3rd June 2022 TSX-V-listed Giyani Metals Corporation has completed a reverse circulation infill drill programme at the K.Hill Extension deposit, in Botswana, for a total 4 561 m. The company aims to upgrade the current 3.1-million tonnes of inferred resources into indicated resources.  

Gold Fields’ acquisition of Yamana enhances credit quality – Moody’s  

By: Mariaan Webb     3rd June 2022 South Africa-based Gold Fields’ $6.7-billion acquisition of Yamana Gold will enhance its credit quality as the combined group will benefit from a bigger scale and broader geographic diversification without any new debt being raised, says credit ratings agency Moody’s. The acquisition of its peer... 

An image of a truck in a pit at the Damang mine

Chile open to all paths to lithium mining, Minister says

By: Reuters     3rd June 2022 Chile's Mining Minister on Thursday said the country was open all paths to develop its lithium reserves and would work to rebuild trust after its supreme court voided two contracts for the battery metal because of opposition from indigenous groups. The supreme court on Wednesday accepted appeals... 

Meteoric strikes A$30m deal over Brazilian gold project

By: Esmarie Iannucci     3rd June 2022 ASX-listed Meteoric Resources has struck a A$30-million agreement to divest of its Juruena gold project, in Brazil. The company has signed a termsheet with Keystone Resources, which is a wholly-owned subsidiary of Alchemist Investments Inc. 

Image shows Australian currency

Junior explorer scores big in Namibian gold belt where mining majors failed  

By: Martin Creamer     2nd June 2022 If you want to raise real risk capital for exploration, you need Canadian-style investors to provide it, the 2022 Junior Indaba heard on Thursday. While it was acknowledged that South Africa has the money, it was also reiterated that the country is just not channeling it into exploration, where... 

Osino Resources CEO Heye Daun
Junior Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Chile's Boric pushes for unity amid challenges in first state of the union

By: Reuters     2nd June 2022 Chilean President Gabriel Boric struck a conciliatory tone and outlined his government's plans to tackle a slew of issues amid a sharp drop in his approval rating during his first State of the Union Address on Wednesday. Emphasizing the need for all Chileans to work together to address issues... 

Chile starts sanction process against Los Pelambres copper mine

By: Reuters     2nd June 2022 Chile's environmental regulator initiated a sanction process against Antofagasta Minerals' Los Pelambres copper mine for deficiencies associated with tailings management, the agency said in a statement released on Wednesday. The Environmental Superintendent (SMA) filed one minor and two major... 

Chile starts sanction process against Los Pelambres copper mine

Far-reaching JSE reforms highlighted at exploration-focused Junior Indaba 

By: Martin Creamer     1st June 2022 The June 1 launch of the JSE’s new Cutting Red Tape initiative to make listing on the JSE considerably easier, faster and more sustainable is twinning with JSE’s recent private placements inventiveness that provides for the raising of capital in the private market for minerals exploration and the... 

Picture supplied by JSE.
JSE head of origination and deals Sam Mokorosi.
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