Новости за 03.02.2020

Russia's En+ Group has raised its stake in aluminium giant Rusal to 56.88% after completing an asset swap with Glencore, part of a deal that has helped companies controlled by Russian tycoon Oleg Deripaska to ward off US sanctions. En+ Group and Glencore agreed in 2017 that Glencore would swap its 8.75% stake in Rusal for shares in En+ Group, an aluminium and hydropower group controlled by Deripaska, following En+'s initial public offering. However, the deal was suspended in 2018 when the United States announced sanctions on Deripaska... Читать дальше...

Precious metals producer Americas Gold and Silver has halted mining and processing operations at the Cosalá mine, in Mexico, after a group of individuals, including unionised workers, blocked access to facilities. The company, which trades on the TSX and NYSE American, said on Monday that it had filed legal motions with the Meixco state and federal governments and that it remained in good-faith discussions with representatives of the certified union.

Mining engineer Steve Holmes, a former vice-president (VP) of Barrick Gold’s joint venture portfolio, has joined NYSE- and TSX-listed First Majestic Silver as COO. In his new role, he will be responsible for overseeing the operational functions at First Majestic’s Mexican portfolio of silver mines and projects.

Canadian miner Teck Resources is chasing a goal of being carbon neutral across all its operations and activities in 30 years’ time, the diversified mining firm, focusing on copper, steelmaking coal and zinc, announced on Monday. The objective aligned with commitments by Canada and Chile – home to the majority of its operations – to be carbon neutral by 2050, said Teck, which is proposing a C$20.6-billion oil sands project in northern Alberta. At full capacity, the Frontier project could produce 260 000 bbl/d of oil in Alberta. Читать дальше...

Private equity firms lost interest in the mining world last year, pumping 75% less money into the sector as they focused more on funding existing investments. Investments dropped to $500-million from $2-billion a year earlier, according to a report by law firm Bryan Cave Leighton Paisner (BCLP). That was the lowest amount since the company started tracking the space in 2013.

Despite mining’s contribution to almost every aspect of modern life, the industry is still seen as an industry “that takes more than it gives”, Anglo American CEO Mark Cutifani lamented in his keynote address at this year’s Investing in African Mining Indaba, which is taking place in Cape Town, this week. He highlighted that the mining industry – which contributes to, besides others, food production, construction materials, transport, clean energy and communication solutions – drives 45% of the world’s economic activity... Читать дальше...

JSE-listed Royal Bafokeng Platinum (RBPlat) has the received the upfront cash prepayment of $145-million, or R2.1-billion, from Triple Flag Mining Finance Bermuda. This relates to a gold streaming agreement entered into in October last year, whereby RBPlat would deliver gold to Triple Flag from its South African mining operations.

Mining companies and their stakeholders, including investors, governments and politicians, must confront the human rights abuses that are rife in the industry, nongovernmental organisation Amnesty International said on Monday. The statement was issued as the yearly Investing in African Mining Indaba got under way in Cape Town.

ASX-listed coal miner TerraCom on Monday offered to buy fellow-listed Universal Coal in a deal valuing the South Africa-focused coal producer at about A$175-million. TerraCom, which in December acquired a 19.9% stake in Universal Coal, is offering shareholders 33.5c a share.

Australian junior Hawkstone Mining, which owns the Big Sandy lithium project in the US, is diversifying its portfolio with the addition of a gold project in Idaho, as weakness in the lithium market continues. The company on Monday announced that it had agreed to acquire the Lone Pine gold project, located in the Trans-Challis Fault System, from Inception Mining for $510 000.

As global investors shift away from heavy industry in favour of cleaner sectors, mining companies are losing billions in financing, raising the cost of capital and jeopardising projects. Making the mining industry more sustainable by running mines on renewable energy, for example, will be a key focus at the annual Investing in African Mining Indaba conference in Cape Town this week, as companies hunt for new sources of capital including private equity, debt, offtake finance and royalty finance.

Urgent steps are needed to revive the South African economy, Minerals Council South Africa chairperson Mxolisi Mgojo said on Monday. Speaking on the first day of the four-day Investing in African Mining Indaba, he said the Minerals Council was ready and willing to work with the government.

Dual-listed Endeavour Silver is forecasting better performance from its operating mines in 2020, with a slight decrease in consolidated production owing to the suspension of mining at El Cubo. Operating costs at Guanacevi, Bolanitos and El Compas should decline through the year as productivity improves, CEO Bradford Cooke has indicated.

The European Union’s (EU’s) new conflict minerals regulation is due to come into force on January 1, 2021, almost four years after the text of the legislation was initially published in May 2017. Law firm Fieldfisher partners Laurent Ruessman, Jonathan Brooks and Andrew Hood say the new regulations “aims to boost corporate transparency and encourage companies to embrace a more sustainable approach to sourcing four key metals”, namely tin, tantalum, tungsten and gold (3TG).

Anglo American said on Friday it had halted production in parts of its Moranbah North coking coal mine in Australia after a roof collapsed. "Anglo American confirms a geotechnical issue at Moranbah North during development works, which resulted in a roof fall incident," it said in a statement, adding there were no injuries.

Power to Alcoa's Portland aluminium smelter has returned to normal levels after a blackout on Friday caused by heat waves in Australia's south, the company said in a statement on Monday. One of two transmission lines to the smelter remains out of service due to the outage, however, Alcoa added. It blamed an external disruption for the interruption, but did not say if production had been affected.

For the handful of hedge-fund traders who built long careers riding the volatility of commodities markets, two things are obvious about copper: it’s cheap and terrifying. There’s a good argument that the metal – which is in the midst of a record-breaking 13-day sell off – is due for a bounce when China gets coronavirus under control. But the chance that the outbreak could still get much worse is keeping some traders on the sidelines. “Everyone is just so scared of buying,” said George Daniel, a portfolio manager at Red Kite... Читать дальше...

Chinese commodity prices collapsed on the first day of trading after the Lunar New Year break as investors returned to markets gripped by fear over the impact the coronavirus will have on demand in the world’s biggest consumer of raw materials. The country’s three major commodity exchanges were hit by a fevered bout of selling as they reopened with Chinese traders getting their first opportunity to catch up with losses inflicted on overseas markets while they had been on holiday. Metals, energy and agriculture futures were all hammered... Читать дальше...