Новости за 30.03.2020

Copper miners are poised for their worst quarter since 2008 after the coronavirus pandemic fueled demand fears for industrial metals and forced companies to curb mining operations. The BI Global Copper Competitive Peers index has slumped 37% this quarter, led by Teck Resources, Hudbay Minerals and Freeport-McMoRan, which are all down more than 50% so far this year.

TSX-V-listed Diamcor Mining has made several short-term operational changes in response to the events unfolding owing to the Covid-19 crisis that is occurring globally. The company has suspended its activities in South Africa, placing its Krone-Endora at Venetia surface mining operation, adjacent to De Beers’ Venetia mine, in the Limpopo province, on care and maintenance for the duration of the national lockdown ending April 16.

The fast-spreading coronavirus pandemic is affecting US coal operations, with two companies on Monday announcing that they would idle operations in response to Covid-19, which has hit the global economy hard. NYSE-listed Consol Energy said it would curtail production at its Bailey mine, in Pennsylvania, for two weeks, after two employees tested positive for the disease.

Gold edged lower after its best week since 2008 amid investor caution on policies aimed at mitigating the impact of the coronavirus pandemic. Bullion’s muted trading comes after the gold market was thrown into turmoil last week as the health crisis disrupted supply chains, creating a squeeze in futures as sellers’ capacity to meet commitments to deliver the metal was curtailed. While the squeeze showed signs of easing before the weekend, the physical market remains tight, with key Swiss refineries remaining shut for at least another week.

Owing to public health restrictions on the movement of people and products in Botswana, South Africa and India, diamond miner De Beers will not hold its third rough diamond sales cycle of this year. As a result, De Beers is enabling sightholders to defer 100% of their Sight 3 allocations to later in the year.

Spain has implemented enhanced measures to protect its people from the fast-spreading coronavirus with a new royal decree on Sunday stipulating that only employees from essential industries are allowed to work for the next week-and-a-half. The list of essential industries excludes mining and consequently, Aim- and TSX-listed Atalaya Mining on Monday announced that its Proyecto Riotinto copper mine would cease operations until April 10. The company said in a statement that it would maintain a minimum... Читать дальше...

Coronado Global Resources said on Monday it will temporarily halt metallurgical coal output from its U.S. operations due the global economic fallout of the coronavirus pandemic but will meet its current commitments. Operations at its other mine in Australia, Curragh, which accounts for 65% of its output and earnings, will continue as normal to meet demand from customers in Asia Pacific and India.

ASX-listed Allegiance Coal has entered into a $25-million loan term sheet with credit asset manager Nebari Natural Resources Credit Fund, which could contribute to the capital required to start up the New Elk mine, in Colorado. The loan will have a 36-month term from the date of drawdown, with repayments starting 18 months after the drawdown.

The Santander zinc/lead mine is continuing to operate during Peru’s national emergency, but TSX-listed Trevali Mining reported on Friday that the country’s extension of the emergency would impact on processing at the 2 000 t/d operation. The Vanouver-based miner said that it would not be able to process ore for the duration of the extension to April 12, citing a shortage of reagents.

Major Rio Tinto has pledged $25-million in funding to support global grassroots community Covid-19 preparedness and recovery efforts. The additional investment would predominantly focus on value-in-kind opportunities, including the supply of masks and protective equipment to support emergency and health professionals, donations to national and local communities, hospitals and international agencies, the provision of ventilation units and temporary medical units in communities, further investment... Читать дальше...

Diversified major BHP has launched an $8-million plan to help mitigate the spread of COVID-19 in Chile. The company over the weekend announced that it has combined efforts with the medical faculty of the Universidad Católica, to raise the testing capacity and strengthen the Familiar Health Centers of the South East Area of the Metropolitan Region, as well as Antofagasta and Tarapacá.

Copper/gold miner Oz Minerals on Monday maintained its production guidance for the full 2020, but announced a A$150-million deferral in overall capital expenditure for the year. The ASX-listed company told shareholders that in light of the COVID-19 pandemic, the company had undertaken an extensive review of all growth, exploration and other expenditure with the objective of maintaining a low cost metal production at its operating assets.

Research agency Fitch Solutions expects volatility to continue playing to the downside for metal prices in the coming weeks owing mainly to bearish investor sentiment on the back of the widespread Covid-19 pandemic. The agency notes that metal prices started the year on a strong footing as the Phase One trade deal between the US and China was signed, before succumbing to the news of Covid-19 that infiltrated markets in mid-January.