Новости за 24.04.2020

Global miner Barrick Gold will challenge Papua New Guinea’s decision not to extend its special mining lease (SML) for the Porgera gold mine, saying the move is tantamount to nationalisation. Prime Minister James Marape on Friday announced that Papua New Guinea had refused an application to extend mining at Porgera, citing alleged environmental and resettlement issues. Barrick, led by CEO Mark Bristow, said it remained willing to discuss the matter with Marape and his government in the hope of averting... Читать дальше...

Independent proxy advisers Institutional Shareholder Services (ISS) and Glass Lewis & Company have recommended that shareholders of explorer Balmoral Resources vote in favour of a C$110-million takeover from miner Wallbridge Mining. Through the combination, Wallbridge and Balmoral aim to form an exploration and development company with a dominant land position along the Detour gold trend, in Quebec.

JSE-listed Merafe Resources’ attributable ferrochrome production from the Glencore-Merafe Chrome Venture decreased by about 3.6% year-on-year to 100 000 t for the quarter ended March 31. This compares with attributable production of about 104 000 t in the quarter ended March 31, 2019.

NYSE-listed Freeport-McMoran (FCX) on Friday announced a 30% reduction in planned capital expenditure (capex) for 2020, as it unveiled a new operating plan in response to the Covid-19 pandemic and the resultant negative impact on the global economy. The group, which operates mines in North America, South America and Indonesia, slashed its 2020 capex guidance to $2-billion, from its January forecast of $2.8-billion. FCX also announced a $100-million reduction in exploration and administration costs... Читать дальше...

While Fitch Solutions Macro Research has long held the view that major miners are better positioned to weather unexpected storms, grow further and tackle new challenges, the ratings agency has questioned whether this would be the case with the Covid-19 pandemic – which brings with it operational disruptions and declining metal prices. The findings build on the 2019 financial year already having proven challenging for most miners as profit levels declined, not only owing to share buybacks, impairments and legal charges... Читать дальше...

Coal miner MC Mining’s Uitkomst Colliery produced 127 122 t of run-of-mine (RoM) coal in its third quarter, ended March 26 − the day before South Africa entered into a five-week lockdown to curb the spread of Covid-19 infections. Output for the quarter was 12% higher than the 113 190 t produced in the quarter ended March 31, 2019.

Nickel miner Western Areas has maintained its production outlook for 2020, with the company reporting a solid quarter in the three months to March. Total nickel mined during the quarter reached 5 896 t, which was in line with the 5 849 t produced in the previous quarter. Total nickel-in-concentrate produced declined slightly from the 5 399 t produced in the December quarter to 5 154 t.

The Lesotho government has permitted diamond mines to reopen from Monday, ahead of the May 5 lockdown extension, Gem Diamonds said on Friday. Mining Weekly can report that Lesotho is authorising diamond-mining’s recommencement in the Mountain Kingdom, contingent on compliance with Covid-19 health and safety guidelines.

MMG Ltd said on Thursday its copper output fell 20% year-on-year in the first quarter because of lower-than-planned production at the Las Bambas mine in Peru, where the miner has declared force majeure because of coronavirus-related curbs. Las Bambas is among the world's biggest copper mines and one of the major mining projects that has cut production, prompting Australia-based MMG to formally withdraw its full-year production guidance for the mine earlier this month.

Chilean miner SQM said on Thursday the coronavirus outbreak had yet to hit its lithium output, but warned it might have to scale back plans for 2020 if a slump continues in demand for the coveted battery metal. The world´s No. 2 miner of lithium had planned to unleash at least $330-million in 2020 to expand production capacity out of Chile´s Atacama salt flat, according to SQM board chairman Alberto Salas. The region is among the world´s richest in lithium.

The US government on Thursday outlined its strategy to arrest the decline of the country’s industrial base in the front-end of the nuclear fuel cycle, including “immediate and bold action” to strengthen the uranium mining, milling and conversion industries. The strategy is the outcome of the US Nuclear Fuel Working Group that President Donald Trump established in July 2019.

ASX-listed New Century Resources has completed a A$23.77-million share placement to fellow listed Independence Group, giving the metals miner an 18.4% stake in the company. The placement of 158.5-million shares, at a price of 15c each, formed part of a larger A$51.1-million capital raise for New Century, which will also see Independence take up a further A$3.225-million worth of New Century shares under an entitlement offer.

The South African mining industry remains a significant world player, as it continues to break new ground, says the University of the Witwatersrand (Wits) Mine Health and Safety Working Group.

The Mandela Mining Precinct, a public–private mining industry collaboration, remains committed to advancing people-centric processes and technologies, in the research and development (R&D) activities that it will be undertaking for the advancement of the South African mining industry.

Although driving youth participation and innovation in the mining industry is crucial, the advent of Industry 4.0 in the mining industry (Mining 4.0) often makes it challenging, as the youth perceives the industry as less attractive, when compared with other mainstream career fields.

South Africa has many “cutting-edge mines” and is a global leader in deep-level mining, says mining industry employers’ organisation Minerals Council South Africa CEO Roger Baxter.

Transformation, representation and inclusion are “key imperatives” for public–private mining industry collaboration the Mandela Mining Precinct, says research body The Coaltech Research Association (Coaltech) CEO Henk Lodewijks.