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Mining Weekly 07/09/2020 18:26
Few of the capital projects planned for the development of new African mines will go ahead this year because of the Covid-19 pandemic and the resultant uncertainty, says project management, engineering and consulting company Wood’s mining and minerals business development manager for Europe, the Middle East and Africa, Kuda Maramba.
Mining Weekly 07/09/2020 18:25
Rope access specialist Skyriders is preparing to install a new coronal capping, with its design in the process of being finalised, for two smokestacks at a mine in Namibia. The company secured the contract earlier this year, having had previous experience with this client in 2018 when it completed inspections of the operation’s cooling tower and smokestacks in 2018. Based on recent visual inspections, Skyriders was asked to help design and install a new coronal capping, explains Skyriders marketing manager Mike Zinn.
Mining Weekly 07/09/2020 10:24
Aluminium products manufacturer Hulamin reports that it has become the first global aluminium semi-fabricator to have a greenhouse-gas (GHG) emissions target approved by the Science Based Targets initiative (SBTi). The SBTi mobilises companies to set science-based targets and boost their competitive advantage in the transition to the low-carbon economy.
Mining Weekly 07/09/2020 09:24
Having fallen sharply in mid-March, the silver price has recovered strongly and further gains are forecast for the rest of the year, owing to the precious metal’s safe-haven status and a belief among investors that silver is undervalued in absolute terms to gold. The silver price is forecast to surpass the $21/oz-mark in late-2020, with a fall in the gold:silver ratio – the quantity of silver ounces needed to buy an ounce of gold – to below 90, the Silver Institute reported on Thursday. The metal’s price averaged $16.65/oz in the first half of the year, and reached $17.84/oz at the end of June.
Mining Weekly 07/09/2020 08:25
Gold prices could be set to take out their long-standing record as mounting concerns about the global economy fuel gains above $1 800/oz. Spot bullion extended its advance into a sixth day as the resurgence of the coronavirus in some parts of the world adds to concerns about a protracted global downturn. Demand for havens has surged, with inflows into gold-backed exchange-traded funds this year already topping the record full-year total set more than a decade ago, and some market watchers are forecasting prices could hit all-time highs as the health crisis drags on.
Mining Weekly 07/09/2020 07:25
UK-headquartered miner Central Asia Metals Limited (CAML) has maintained its full-year guidance from its operations in Kazakhstan and North Macedonia, despite increasing its Covid-19 measurements to reduce the spread of Covid-19 at its Kounrad operation. As the Aim-listed company enters the third quarter, Covid-19 cases have been rising in the local town close to its Kounrad operation, and 27 of its workers have tested positive for the virus. "It is our duty to do our utmost to prevent the spread of this virus on our site and, to that end, we have taken the post-period end decision to temporarily reduce to a minimum the number of employees at Kounrad to further increase social distancing measures," said CEO Nigel Robinson.
Mining Weekly 07/09/2020 06:55
United Nations secretary-general António Guterres appealed to governments on Thursday to place the transition from fossil fuels to clean energy at the “core” of their Covid-19 economic recovery spending. Guterres also used the platform created by the International Energy Agency (IEA) Clean Energy Transition Summit, which was hosted virtually and attended by 40 energy ministers from around the world, to bemoan the decision of some governments to direct stimulus spending towards struggling oil and gas companies or to support new coal projects.
Mining Weekly 07/09/2020 03:24
Unions at Chile's Codelco, the world's largest copper producer, said on Wednesday that nearly 3 000 workers had been infected with the coronavirus, prompting renewed calls for more safety measures at the company's sprawling operations. Patricio Elgueta, president of the Federation of Copper Workers (FTC), an umbrella group for the company's unions, told Reuters it had tallied 2 843 coronavirus infections among workers as of July 5. "The company does not give the database to the workers, so we have to rebuild it every day in order to see how (infections) are progressing," he said.
Mining Weekly 07/09/2020 02:55
ASX-listed Lotus Resources has reduced the care-and-maintenance cost at its recently acquired Kayelekera uranium project, in Malawi, by some 75%, as the company advances certain restart activities. Lotus on Thursday told shareholders that care and maintenance costs for the mine have been reduced from $5-million set aside in 2019, to $1.2-million, with the number of full-time employees on-site reduced from 116 to 16.

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