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Mining Weekly 08/04/2020 01:07
The lifting of exchange control by South Africa sends a really strong message about the country’s desire to promote investment and growth, says Anglo American finance director Stephen Pearce. He gave South Africa a pat on the back during Anglo’s virtual presentation of half-year results last week, describing the lifting of the exchange controls as a ”really pleasing development”.
Mining Weekly 08/03/2020 11:37
State-owned power utility Eskom and the Special Investigating Unit (SIU) on August 3 issued summonses in the North Gauteng High Court to recover funds from former Eskom executives, board members and members of the Gupta family and their associates, as well as others. "The funds were lost in a concerted effort corruptly to divert financial resources from Eskom, to improperly and illegally benefit the Gupta family and entities controlled by it and their associates during their 2015/16 acquisition of the operations of Optimum Coal Holdings (OCT).
Mining Weekly 08/03/2020 11:07
HBIS Resources Co, a unit of China's second-biggest steelmaker HBIS Group, said on Monday it had signed an initial deal to develop the Pampa de Pongo iron-ore mine in Peru alongside current licence-holder Zhongrong Xinda. The two Chinese companies plan to set up a joint venture to work on the first stage of the mine, which also contains copper, cobalt and gold reserves, an HBIS Resources filing to the Shenzhen Stock Exchange showed. The scope of cooperation includes mine and port construction and operation, it added.
Mining Weekly 08/03/2020 04:37
There is an expectation of price recovery in the market, as demand for power grows alongside the loosening of Covid-19 restrictions, and as more producers hold back supply. In Europe, coal burn is likely to remain weak through 2020 but will be offset by an even bigger contraction in supply, drawing down stocks heading into 2021 and explaining the steep contango that we see in the forward curve.
Mining Weekly 08/03/2020 03:28
Gold and base metals explorer Sipa Resources has inked a A$12-million farm-in agreement with the exploration arm of major Rio Tinto over its Paterson North copper/gold project, in Western Australia. Under the terms of the farm-in and joint venture (JV) agreement, Rio will commit a minimum exploration spend of A$3-million within a two-and-a-half year period.
Mining Weekly 08/03/2020 03:26
Junior Peel Mining has exercised its pre-emptive rights to acquire joint venture (JV) partner CBH Resource’s 50% stake in the Mallee Bull base metals project, in New South Wales, launching its one-for-eight pro-rata non-renounceable entitlement offer. The company in July this year announced plans to raise A$17.1-million through a share placement and entitlement offer, to fund the Mallee Bull buy.
Mining Weekly 08/03/2020 02:10
Diversified miner BHP on Monday announced that up to 30 new jobs would be created in Queensland’s Bowen Basin as a result of a new partnership with Novum Energy to recycle mining truck tyres for the first time in Australia. Used earth moving tyres from all seven coal mine sites in Queensland would be supplied to Novum who will convert the tyres into heavy and light oils, carbon black, syngas and steel at a processing plant being built in Nebo in the Isaac region.
Mining Weekly 08/03/2020 00:07
Chilean regulators have rejected lithium producer SQM's $25-million environmental compliance plan for the Atacama salt flat, requesting the miner to start again from scratch, a filing showed. Chile's Environmental Superintendent (SMA) approved SQM's compliance plan early in 2019 after a multi-year investigation found the miner had overdrawn lithium-rich brine from the salt flat.
Mining Weekly 07/31/2020 10:36
Chile's copper output fell in June for the first time since the coronavirus pandemic landed in the world´s top producer of the red metal, dropping 0.6% to 472 172 t, according to data released on Friday by government statistics agency INE. The South American nation´s manufacturing output, meanwhile, plunged 8.3% in June, the agency said, as the peak of contagions in the South American nation hammered its economy.
Mining Weekly 07/31/2020 10:06
Chile's environmental watchdog on Friday announced a "serious" charge against BHP's Escondida copper mine, the world's largest, for water misuse since 2005. The SMA regulator said the mine had caused a sufficiently serious drop in the water table in one sector of the northern Chilean desert where it is situated that it could result in the revocation of its environmental permit, closure or a fine.
Mining Weekly 07/31/2020 08:37
Gold is set for the biggest monthly gain in more than four years after a weaker dollar and low rates fueled its surge to a record. Silver headed for its best month since 1979. Spot bullion is up 10% in July as a gauge of the dollar slumped, prompting concerns its status as the world’s reserve currency of choice is at risk, and US real yields fell to a record low. While the ferocity of gold’s rally cooled as the week wore on, it’s less than $20 shy of its all-time high and most market watchers predict there may be more gains ahead.
Mining Weekly 07/31/2020 04:38
Triple listed Clean TeQ has warned of a A$180-million non-cash write down of the carrying value of its Sunrise nickel/cobalt/scandium project, in New South Wales, for the 2020 financial year. The company on Friday told shareholders that a review of the carrying value of the Sunrise project was undertaken based on a conservative best estimate of what the probable project execution plan (PEP) outcomes would be, as well as highly conservative macroeconomic assumptions, including the forecast metal process.
Mining Weekly 07/31/2020 04:38
ASX-listed Panoramic Resources has flagged a potential restart of its Savannah nickel project, in Western Australia, in the first half of 2021. Panoramic in April this year temporarily suspended operations at the Savannah project, amid the Covid-19 outbreak, as the pandemic adversely impacted transportation and the availability of personnel and equipment and supplies to the site.
Mining Weekly 07/31/2020 01:37
Mining Weekly Editor Martin Creamer unpacks the flight to iron-ore quality being a demand trend that favours South Africa’s high-quality iron-ore, the all-female exploration crew that has begun drilling in the Northern Cape and Menar’s R250-million, cash-funded, solar-boosted East Manganese project which is underway.

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