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Mining Weekly 03/28/2020 07:43
South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) and the Motsepe family on Saturday formed the key part of the partnership of companies and organisations that have pledged R1 billion to assist with the current coronavirus (Covid-19) pandemic and its related challenges that are confronting South Africa and the African Continent.
Mining Weekly 03/27/2020 15:13
Bolivia's San Cristóbal mine, a huge desposit of zinc, lead and silver, has suspended operations after the country imposed tough rules to halt the spread of coronavirus, its operator Minera San Cristóbal said in a statement on Friday. The company, a wholly-owned subsidiary of Japana's Sumitomo Corporation, said it would impose a "temporary suspension of the production and export of concentrated zinc, lead and silver minerals" following the government measures.
Mining Weekly 03/27/2020 15:12
Diversified miner Vedanta said on Friday CEO S Venkatakrishnan has resigned due to personal reasons, less than two years after he took the helm. Sunil Duggal, current head of Vedanta unit Hindustan Zinc, will take over as interim CEO. Venkatakrishnan, who was previously CEO of South African miner AngloGold Ashanti, took over as Vedanta chief in 2018 amid a rebound in metal prices.
Mining Weekly 03/27/2020 10:42
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 government that it will be forcing almost all mining operations to close down has led to a surge in buying interest across the platinum group metals complex, which led to the platinum forward market moving into backwardation for the first time in more than a decade.
Mining Weekly 03/27/2020 09:43
JSE-listed coal miner Exxaro Resources has started implementing its Crisis Management Plan and Business Continuity Plan across the breadth of its business, which includes health and safety controls and preventive measures to curb the spread of Covid-19. This while the company motivated to the Department of Mineral Resources and Energy to maintain its coal supplies to Eskom to ensure sufficient feedstocks for South Africa’s coal-fired power stations.
Mining Weekly 03/27/2020 09:43
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 experience an "unprecedented shock" in the first half of 2020 as a result of the coronavirus impacts.
Mining Weekly 03/27/2020 06:42
Diversified miner Anglo American is taking steps at its relevant operations in line with Covid-19-related regulations enforced in the various jurisdictions in which it operates around the world. It will also continue to provide a number of essential services, including security; mine maintenance; tailings facility safety management; water treatment; community water supply; increased capacity in Anglo American’s hospitals; accommodation provision; health, safety and emergency response; and critical head office services.
Mining Weekly 03/27/2020 06:12
The outbreak of Covid-19 internationally should be a wake-up call on the impact of South Africa’s dependency on imported products, Madala & Associates CEO Dilley Naidoo said on Friday. He urged that policies parallel to what was being implemented in the automotive sector should be prioritised in mining and many other industries as well, to reduce South Africa's economic vulnerability.
Mining Weekly 03/27/2020 04:44
Canada’s Northern Dynasty said on Thursday that work on the Pebble project, in Alaska, continued to advance, despite the mandatory and voluntary steps that its US-based subsidiary implemented in response to the spreading of the novel coronavirus. The project developer confirmed that it still expected a final environmental impact statement (EIS) and record of decision (RoD) by mid-year.
Mining Weekly 03/27/2020 04:13
South Africa-focused coal miner Universal Coal on Friday announced that it would discontinue its legal proceedings in the High Court of Justice of England and Wales in relation to an unsolicited from fellow-listed TerraCom, after the suitor announced that it had achieved just over 90% of the voting rights attached to Universal shares. TerraCom on Friday said that it would now proceed to a mandatory sell-out process in accordance with the UK Companies Act, and would cause Universal to apply for a de-listing from the ASX.
Mining Weekly 03/27/2020 03:56
Zimbabwe's central bank cut its main lending rate to 25% on Thursday and set a fixed exchange rate as part of measures to support the economy against the coronavirus pandemic. The Chamber of Mines, which represents major mining companies in the country, said mineral production could fall 60% in the second quarter due to the impact of coronavirus, hurting a country that heavily relies on the sector for scarce dollars.
Mining Weekly 03/27/2020 03:34
State-owned electricity producer Eskom has reported that demand dropped by more than 6 000 MW on the afternoon of March 26 as businesses shut in anticipation of the start of the nationwide Covid-19 lockdown. The utility also indicated that a further reduction in demand was anticipated for the 21-day period and that it did not, therefore, expect to implement load-shedding during the lockdown.
Mining Weekly 03/27/2020 03:34
Coal miner MC Mining has suspended production at its South African coal operations, as a 21-day nation-wide lockdown comes into effect. "MC Mining supports all measures to limit the impact of COVID-19 and the lockdown has impacted out Uitkomst Colliery, as well as our corporate office and project sites," said CEO Brenda Berlin.
Mining Weekly 03/27/2020 01:42
NYSE-listed Freeport-McMoRan said on Thursday that it was in discussions with Peruvian authorities to allow the Cerro Verde mine to conduct limited operations during the country’s extended state of emergency, positioning the mine to return to normal operations when restrictions were lifted. Peruvian President Martin Vizcarra has ordered an extension of the Covid-19 state of emergency for an additional 13 days until April 12 in a bid to curb the spread of the infection.

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