Новости за 05.11.2019

A Brazilian mining joint venture between Vale and BHP Group, paralysed after a fatal dam collapse, is expected to resume talks to restructure $4-billion in defaulted debt in coming weeks, two sources with knowledge of the matter said. The venture, Samarco Mineracao, last month won permission to resume operations at its Germano iron-ore mine, four years after a dam burst in the city of Mariana, in Minas Gerais state, that killed 19 people and contaminated rivers.

Precious metals miner Endeavour Silver, which operates four silver/gold mines in Mexico, on Tuesday reported a third-quarter loss of $68-million, compared with a loss of $5.5-million, as its generated lower revenue on weaker production results. Silver-equivalent production fell 30% year-on-year to 1.73-million ounces in the September quarter, with silver production down 34% to 948 547 oz and gold production down to 9 716 oz.

The strong net free cash flow generated by TSX-listed Endeavour Mining in the third quarter ended September 30, marked an important milestone for the West Africa-focused gold producer as it “demonstrates that [the company] has de-risked and repositioned the group as a cash-generating business, after nearly four years of intensive growth-capital spend,” president and CEO Sébastien de Montessus said on Tuesday. As a result, Endeavour is now considered to be “strategically diversified” across multiple... Читать дальше...

A subsidiary of South Africa’s largest ferrochrome producer – K2018239983 (NewCo) – has exercised its rights to sell all further chrome rights to the chrome contained in all of the historical tailings at Inyoni, to metals processing company Jubilee Metals. Inyoni was previously known as Jubilee’s Hernic project.

The Lesotho government has renewed the mining lease for LSE-listed Gem Diamonds’ Letšeng mine, CEO Clifford Elphick confirmed on Tuesday. The terms of the renewed mining lease were agreed with the Lesotho Mining Board following a statutory negotiation process. The lease was renewed for an immediate period of ten years with exclusive rights granted to Letšeng to renew the mining lease for a further ten years.

The underground expansion at diamond miner Lucara Diamond’s 100%-owned Karowe diamond mine, in Botswana, is expected to not only double its mine life, but also generate significant revenue and cashflow until 2040. A feasibility study into the undergound expansion has found that the adapted life-of-mine of an additional 15 years, including stockpiles, will produce 7.8-million carats of diamonds out to 2040, with the resource remaining open to depth.

South Africa's Department of Mineral Resources and Energy has granted a mining right for MC Mining's 74%-owned Generaal coking and thermal coal project, in Limpopo. The project contains more than 407-million tonnes of inferred coal resources and supports MC's strategy of being South Africa’s pre-eminent producer of hard coking coal.

Uranium developer Peninsula Energy has negotiated the restructure of its existing $17-million convertible note facilities. The ASX-listed company on Tuesday told shareholders that it had reached an agreement with Resource Capital Fund, Pala Investments and entities associated with Collins Street Value Funds on the terms of the proposed restructure, including a planned significant reduction to the principal outstanding and an extension of the repayment date of the balance owing to April 2021.

Holdings in gold-back exchange-traded funds (ETFs) hit a record high of 2 855.3 t, valued at about $136-billion, in the third quarter, owing to accommodative monetary policies and safe-haven and momentum buying. This while the gold price had sustained support up to $1 500/oz during the quarter.

The value of gold hit a six-and-a-half-year high at $1 546/oz at the start of September, driven by investor sentiment and macroeconomic factors, says financial markets data provider Refinitiv in its latest ‘GFMS Gold Survey’. Over the third quarter of the year, gold recorded a “spectacular” performance, with its dollar value appreciating by 12%, compared with the prior quarter, and was valued at 22% more year-on-year, at an average of $1 472/oz.