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Mitsubishi unpacks movement of PGM markets amid lockdowns

By: Marleny Arnoldi     27th March 2020 Mitsubishi Corporation International (MCI) says in its latest precious metals update that it expects South Africa’s platinum supply to reduce by around 7%, or by between 200 000 oz and 300 000 oz, in light of closed operations during South Africa’s 21-day national lockdown. The announcement by... 

Petra Diamonds suspends guidance, scales down operations

By: Marleny Arnoldi     27th March 2020 London-listed Petra Diamonds has, in accordance with what the Department of Minerals Resources and Energy expects from miners during South Africa’s 21-day lockdown period, scaled down its operations. The diamond miner advised on March 27 that it had scaled down operations to operate at a... 

Covid-19 to further weaken US coal demand in an already diminishing market

By: Marleny Arnoldi     27th March 2020 US domestic demand for thermal coal will fall during the second quarter of the year as individual states shut down much of the industrial economy to try and stem the spread of Covid-19. This is according to Moody’s Investors Service, which states that, in broader terms, the global economy will... 

Calibre suspends Nicaraguan operations in the wake of Covid-19

By: Simone Liedtke     26th March 2020 TSX-listed Calibre Mining has started the legal process with the Nicaraguan Ministry of Labour to obtain authorisation for the temporary suspension of its El Limon and La Libertad mines. According to CEO Russell Ball, the company has implemented several mitigation measures across the business and... 

New regulations on the cards for resources sector

By: Esmarie Iannucci     24th March 2020 The Minerals Council of Australia (MCA) has welcomed the draft Productivity Commission report into resources sector regulation, saying a more robust, transparent and accountable regulatory system will strengthen the minerals industry once it emerges from the COVID-19 pandemic. The draft report... 

ScoZinc raises C$500 000 to support Scotia mine’s prefeasibility study

By: Marleny Arnoldi     23rd March 2020 TSX-V-listed ScoZinc Mining plans to raise C$500 000 in a nonbrokered private placement. The offer consists of the sale of up to 1.25-million shares at a price of C$0.40 apiece, coupled with a warrant to purchase additional shares at a price of C$0.55 apiece.  

Oil and gas producers in for tough times - Woodmac

By: Esmarie Iannucci     23rd March 2020 The upstream oil and gas sector was facing unprecedented uncertainty with the massive fall in the oil price and the uncertain market environment brought on by Covid-19, industry analyst Wood Mackenzie (Woodmac) has reported. In a research note, Woodmac noted that the upstream oil and gas sector’s... 

Several Canadian exploration projects ramp down to help 'flatten the curve'

By: Mariaan Webb     19th March 2020 Exploration activities at several Canadian project sites are winding down, as companies respond to the global coronavirus pandemic and do their part to help “flatten the curve” of the fast-spreading virus. With efforts to completely contain Covid-19, which has infected more than 200 000 people... 

Paladin completes Kayelekera sale

By: Esmarie Iannucci     18th March 2020 ASX-listed Paladin Energy has completed the divestment of its 85% stake in the Kayelekera asset, in Malawi, reducing the company’s forecast capital expenditure by around $5-million a year. Kayelekera was idled in 2014 on the back of low uranium prices. The project includes a... 

Copper Mountain changes plans as market tumbles

By: Esmarie Iannucci     10th March 2020 Dual-listed Copper Mountain Mining has revised its mine plan and project schedule for its Copper Mountain mine, in British Columbia, deferring a $22-million capital spend in response to current market conditions and near-term copper uncertainty as a result of the Coronavirus. ASX- and... 

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