R/€ = 20.55 Change: -0.03
R/$ = 17.42 Change: 0.05
Au 1933.61 $/oz Change: -61.63
Pt 937.18 $/oz Change: -27.96


Hudbay posts $51.9m quarterly loss as Peru suspension weighs

By: Mariaan Webb     12th August 2020 The eight-week suspension of operations at the Constancia mine, owing to Covid-19 measures in Peru, had a significant impact on gold and base metals miner Hudbay Minerals’ second-quarter results, with the company posting a $51.9-million, or $0.20 a share, net loss. After adjusting for the impact... 

Solaris shares surge 38% on first assay results

By: Mariaan Webb     11th August 2020 Copper company Solaris Resources on Monday reported assay results for the first hole from the ongoing 40 000 m diamond drill programme at its Warintza project, in south-east Ecuador, sending its share price up 38%. This is the first drill hole completed on the Warintza project in nearly 20 years. 

Teck to re-start work at Quebrada Blanca 2 copper project in Chile

By: Reuters     11th August 2020 Canada's Teck said on Monday it would reinitiate work on its Quebrada Blanca phase 2 copper project in Chile after shutting it down in March because of the novel coronavirus outbreak. Teck vice president Amparo Cornejo said in a Chilean mining forum that the company was working closely with... 

Pebble CEO responds to Biden's statement on blocking Alaska mine

By: Mariaan Webb     11th August 2020 Pebble Partnership CEO Tom Collier has responded to Democratic Presidential candidate Joe Biden’s statement that he would use a study completed by the Obama-era Environmental Protection Agency (EPA) in 2014 to deny federal permits for the Alaska mine. Collier said on Monday that any action by a... 

Xanadu raises cash for Mongolian exploration

By: Esmarie Iannucci     10th August 2020 Metals explorer Xanadu Mines is hoping to raise A$12-million to fund exploration work at its flagship Kharmagtai copper/gold project, in Mongolia. Xanadu on Monday announced that it would issue 266.7-million shares, at a price of 4.5c each, in two tranches. 

New World raises cash for US copper

By: Esmarie Iannucci     7th August 2020 Junior New World Resources has received firm commitments to raise A$3.5-million to fund resource and development studies at its Antler copper project, in Arizona. The company will issue 129.6-million shares at a price of 2.7c each under its existing placement capacity, with the issue price... 

Codelco to restart projects suspended because of coronavirus

By: Reuters     7th August 2020 Chile's State-run miner Codelco, the world's largest copper producer, said on Thursday it would restart operations and projects it had suspended due to the coronavirus pandemic, beginning next week. The miner had been forced to delay several mine expansion projects as cases of the virus spread... 

Chile's top copper miners boost June output during coronavirus peak

By: Reuters     6th August 2020 Chile's largest copper mines boosted output in June, according to government statistics released late on Tuesday, churning out more of the red metal even as the coronavirus outbreak hit its stride in the South American mining powerhouse. The Chilean Copper Commission (Cochilco) reported that... 

Zenith sells US rare earth project

By: Esmarie Iannucci     6th August 2020 ASX-listed American Rare Earths has struck a share purchase agreement with fellow listed Zenith Minerals over its Laramie rare earths project, in Wyoming. Under the terms of the agreement, American Rare Earths would acquire Zenith’s wholly owned subsidiary Wyoming Rare for 2.5-million of its own... 

Glencore holds back on dividend, accelerates net debt reduction 

By: Martin Creamer     6th August 2020 Notwithstanding its cash-generative business and secure liquidity positions, the board of Glencore has concluded that it would be inappropriate to make a distribution to shareholders in 2020, Glencore CEO Ivan Glasenberg said on Thursday. Instead the London- and Johannesburg-listed diversified... 

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