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Scotiabank takes C$232m hit as it shuts historic gold unit

By: Bloomberg     27th May 2020 Bank of Nova Scotia has set aside C$232-million to cover the cost of winding down its historic precious-metals unit as well as a potential settlement of US investigations into the unit’s trading activities. The charges this year, which the bank disclosed in its quarterly earnings report on... 

Resuming operations safely post COVID-19

By: Creamer Media Reporter      27th May 2020 Worksafe steps for organisations to protect their people and avoid the legal consequences of getting it wrong As the return to the ‘new normal’ workplace starts to become the focus for many organisations as lockdown measures relax, International SOS urges businesses to make sure that the return... 

New Century takes aim at Vale Goro nickel/cobalt mine

By: Esmarie Iannucci     26th May 2020 Base metals miner New Century Resources has struck an exclusivity agreement with major Vale to negotiate the purchase of a 95% interest in the issued shares of Vale Nouvelle-Caledonie (VNC), which owns the Goro nickel and cobalt mine, in New Caledonia. Vale said on Tuesday that the negotiations... 

ELB shareholders vote in favour of Australian business disposal

By: Marleny Arnoldi     26th May 2020 JSE-listed capital equipment and solutions provider ELB Group will proceed with selling its Australian business, after a majority of shareholders voting in favour of the disposal. The company hosted a general meeting on May 25 for shareholders to vote on the proposed disposal of ELB Australia.  

Miners, Drillers returning to work as Covid restrictions ease: Imdex

By: Creamer Media Reporter      25th May 2020 Leading global mining-tech company IMDEX expects some COVID-19 restrictions affecting its international operations to be eased during May and June, prompting mining operations to resume and drilling contractors to return to work. With 20 offices internationally, sales in 102 countries, and a... 

Preparing for the known unknown after Covid-19

By: Creamer Media Reporter      25th May 2020 Aviate. Navigate. Communicate. If businesses charting a course through the COVID-19 crisis where pilots coping with a mid-air emergency, their training would tell them to follow these three key steps. 

Covid-19 workplace protocols must become ‘second nature’ for any further lockdown easing 

By: Terence Creamer     25th May 2020 Organised business has called for domestic firms to take steps to ensure that their workplaces are Covid-19-ready in light of President Cyril Ramaphosa’s May 24 announcement that the country would transition from lockdown Level 4 to Level 3 from June 1, a move that will result in many more South... 

Dominion Diamond reaches agreement to sell substantially all its assets

By: Creamer Media Reporter      25th May 2020 Struggling miner Dominion Diamond Mines, which filed for insolvency protection last month, has reached an agreement to sell substantially all its assets in a transaction that will allow mining operations at Ekati to resume and avoid bankruptcy. The company signed a letter of intent (LoI) with an... 

Long-duration clean energy storage ideal for mining microgrids

By: Creamer Media Reporter      23rd May 2020 Reliable, cost-effective energy supply 24x7 is an essential resource for successful mining operations, whether grid-connected or off-grid.  In Africa, reliability of utility-sourced electricity is becoming more and more of a challenge, while off-grid diesel generation and the cost and logistics... 

A gold vault in London is key to a $62bn ETF’s success

By: Bloomberg     22nd May 2020 Gold-backed ETFs are on pace for a record haul in a year that’s seen some funds tracking oil futures founder. Investors have poured unprecedented amounts of cash into gold exchange-traded funds, with inflows totaling $16.8-billion in less than five months and set for a record year, according to... 

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