Новости за 24.03.2020

Vale SA is tapping into $5-billion in credit lines to boost its cash position as the coronavirus pandemic forces cutbacks at a time when the iron ore producer was working to recover from a dam collapse last year. Vale asked banks to disburse the lines in two tranches, with $2-billion due in June 2022 and $3-billion due in December 2024, according to a statement filed to Brazil’s securities regulator. The company said the decision was made given the risk presented to its business by the pandemic,... Читать дальше...

Colombian mining companies, including coal producers Cerrejon and Drummond, will reduce operations to slow the spread of coronavirus, the sector's guild said on Tuesday. Some 15 000 workers directly employed in the industry will stop working, as will 18 000 indirect workers, the Colombian Mining Association (ACM) said in a statement.

Poland's climate ministry has allowed State-run energy group PGE to extend operations at its open-pit lignite coal mine in Turow by six years, a decision likely to dismay environmental campaigners. Poland generates most of its electricity from coal and lignite, or brown coal, and is the only EU member not to have pledged to achieve carbon neutrality by 2050, arguing it needs more time to replace its coal-fuelled plants with cleaner ones.

Miner First Quantum Minerals is considering selling a minority stake in its flagship Cobre Panama copper mine to reduce debt, two banking sources familiar with the discussions said. First Quantum's possible move comes as global miners scramble to bolster finances strained by the coronavirus pandemic, which has battered stocks and copper prices. First Quantum shares are down more than 50% this year.

TSX-listed First Quantum Minerals has said its production and sales “remain stable” in the current environment and the company is maintaining its production guidance for the year. In a statement on March 24, CEO Philip Pascall said the company’s key priorities are the health of its employees and to “ensure the business remains robust amid a challenging commodity price environment”.

Africa-focussed Kibo Energy has put a business continuity programme in place to protect its employees while ensuring the safe operation of the company amid the Covid-19 pandemic. This has resulted in all non-essential travel being cancelled and all employees at head office being asked to work from home.

JSE-listed Master Drilling Group recorded an increase in revenue of 6.9% to $148.3-million for the year ended December 31, and a slight decrease in operating profit of 5.1% to $22.4-million, owing to adverse global market conditions and an uncertain operating environment. “No one can run away from a challenging operating environment, but we can look for ways to mitigate this and other risks. One way to do this is through diversification, which has always been a part of our strategy and I am pleased... Читать дальше...

Various South African mining companies have pledged their support for President Cyril Ramaphosa’s Covid-19 directives and range of measures in respect of mitigating the impact of the pandemic on South Africa’s economy. The pledges follow the President’s address to the nation on Monday evening, announcing a 21-day lockdown for the country from midnight on Thursday, March 26, until Thursday, April 16.

TSX- and NYSE-listed Taseko Mines confirms there have been no confirmed cases of Covid-19 nor related impacts at any of its operations or offices in Canada and the US. Particularly, the company’s 75%-owned Gibraltar mine, in British Columbia, has operated at planned rates in the first quarter and the company expects it to produce about 32-million pounds of copper.

Aim-listed Oriole Resources has been granted another ten-year tenure for the 472 km2 Dalafin land package under a new licence called Senala, based in the highly prospective south-eastern corner of Senegal. The company in the year ended December 31, 2019, also applied for an additional eight licences in Cameroon, which, coupled with its two existing licences, provides for an extensive 3 500 m2 licence package in the country.

Gold’s haven reputation took a serious beating, with prices tumbling as investors sought to free up cash amid a broad and devastating market rout. Sound familiar? Sure, it’s the story of gold for much of this month. But that’s only half the answer. It’s also a scenario that played out in the depths of the 2008 global financial crisis, right before gold started a years-long rally that culminated in the 2011 price record still in place today.

Coal miner New Hope Corporation has reported a 41% fall in profits after tax for the half year ended January, driven by lower coal prices. Profits for the six months under review declined from the A$120.2-million reported in the previous corresponding period, to A$69.7-million..

State-owned Ok Tedi Mining on Tuesday said that the results of its three remaining potential COVID-19 cases have come back negative. Between March 15 and 20 the company identified seven potential COVID-19 cases at the Ok Tedi copper/gold/silver mine, in Papua New Guinea, with samples sent for testing.

Gold miner Titan Minerals has warned that COVID-19 would impact its operations in Ecuador and Peru. Titan’s 91%-held subsidiary Core Gold is temporarily suspending operations at the Dynasty Goldfield mine, in Ecuador, as government decrees regarding gatherings, travel and transport within the country would affect the company’s ability operate the mine.

Copper developer Orion Minerals on Tuesday said that it would postpone debt financing activities for the development of its Prieska copper project, in South Africa, until global macro-economic and market conditions stabilise. The ASX- and JSE-listed Orion has told shareholders that the company has proactively implemented work-from-home protocols from March 13, and has implemented cost saving and asset preservation initiatives across its business since the start of the COVID-19 outbreak.

Diamond miner Lucapa is set to receive its first A$7-million in revenue from its cutting and polishing partnership at the Lulo mine, in Angola. The company on Tuesday said that the first A$2.6-million payment will make up Lulo’s share of cutting and polishing profits from diamond manufacturer Safdico International with a futher A$4.4-million from the sale of a 46 ct pink rough diamond from Lulo.

Major Rio Tinto on Tuesday announced that it would slow down some of its operations in South Africa and Canada as part of efforts to slow the spread of COVID-19. At Richards Bay Minerals, in South Africa, the miner will curtail production in compliance with a directive from the South African government, with all mining operations being halted for a period of 21 days, starting on March 26