Новости за 14.05.2020

Vedanta Resources' Zambian unit, which is in provisional liquidation, is fighting to keep the lights on after a power company threatened to reduce supply because of a $132-million bill, according to court filings. Konkola Copper Mines Plc, Zambia’s biggest single power user, on May 13 won an interim order from the High Court preventing Copperbelt Energy Corp. from curbing its electricity. KCM disputes the payment that CEC is demanding, and says power restrictions would cause irreparable damage to its facilities... Читать дальше...

The World Gold Council (WGC) has analysed the potential performance of gold across four hypothetical scenarios provided by Oxford Economics in light of Covid-19 and ensuing economic lockdowns slashing global growth forecasts for this year. The WGC explains that gold’s behaviour can be explained by a broad set of drivers, namely economic expansion, risk and uncertainty, opportunity cost and momentum.

As the Covid-19 pandemic has sparked higher than normal volatility in the metals market near the end of the March quarter, NYSE- and TSX-listed First Majestic Silver decided to rather not sell its silver and gold inventories. The company says paper prices of the metals dropped significantly below true physical prices and that these ounces have been carried over into the second quarter to be sold as prices improve.

Canadian miner Monarch Gold has signed a memorandum of understanding with Glencore Canada Operation related to the potential use of Glencore’s Kidd concentrator, in Timmins, Ontario, for the treatment of ore. The ore will be mined from Monarch’s Wasamac gold property, located in Québec.

TSX-listed Teranga Gold has managed to swing from a net loss of $2.7-million in the first quarter of last year, to a net profit of $16.2-million in the first quarter of this year. This equates to a $0.13 apiece gain for shareholders in the quarter under review, compared with a $0.02 loss a share in the prior corresponding quarter.

TSX- and ASX-listed OceanaGold posted a net loss of $26-million in the first quarter of the year, and an adjusted net loss of $10.7-million. This equated to an adjusted loss per share of $0.02 apiece. The first-quarter loss compares with net profit of $8.7-million in the fourth quarter of 2019 and net profit of $12.4-million in the prior-year quarter.

Canada-based intermediate gold miner Torex said on Thursday that it planned to resume full production at its El Limón Guajes mining complex, in Mexico, by the end of this month. The company noted that it had continued active engagement with local communities during the national suspension of nonessential businesses and that members had encouraged the miner to restart operations “as quickly as possible".

TSX-V-listed African Gold Group says its activities at the Kobada gold project, in Mali, remains unaffected by Covid-19. The company has imposed a strict response plan at the project, which involves reducing the workforce on site and implementing physical distancing for remaining staff.

The transitioning of a US power station from coal to renewable hydrogen is leading the way in a world urgently in need of meaningful action to combat climate change. The ground-breaking transition by Intermountain Power Agency of Utah, is being facilitated by Mitsubishi Hitachi Power Systems, which has steam generator projects at Eskom’s new Medupi and Kusile coal-fired power stations.

TSX-listed Balmoral Resources has obtained a final order from the Supreme Court of British Columbia, which approved its plan of arrangement with Wallbridge Mining. Wallbridge has agreed to acquire all the issued and outstanding shares of Balmoral in exchange for 0.71 of its owns shares for each Balmoral share.

Global miner Eramet has signed a binding agreement with Tronox Holdings to sell the company’s stake in TiZir Titanium & Iron (TTI). The transaction will transfer control to Tronox of TTI’s Norwegian ilmenite transformation plant, for a consideration of $300-milllion.

Sierra Leone is weathering a dramatic crunch in mining revenue as COVID-19 restrictions hurt companies’ ability to export gold and diamonds and access essential supplies. Revenue from mining dropped from $2.24 million in April 2019 to just $0.33 million in April 2020 - an 85% decline year on year, according to mines ministry figures seen by Reuters.

Mining Weekly editor Martin Creamer unpacks AP Ventures' optimism around Hydrogen and its applications, the commitment to climate change solutions through the International Council on Mining and Metals & the Council for Geosciences mapping the country to find exploration hotspots for after lockdown.

PT Freeport Indonesia, operator of the world's second-biggest copper mine, is to conduct "extensive testing" among its employees after coronavirus cases in the area where the mine operates topped 100. It said on Wednesday it had around 50 000 rapid and polymerase chain reaction test kits on site. Covid-19 infections in Mimika Regency, where Freeport's gold and copper Grasberg mine is located on Papua island, reached 112 cases as of Sunday.

Global base-metals miner Trevali has deferred its expansion plans for the Rosh Pinah zinc mine, in Namibia, to a future date, as it moves to preserve liquidity during the economic downturn. The Vancouver-based company, which also owns mines in Peru, Canada and Burkina Faso, said on Wednesday that it would still publish the Rosh Pinah 2.0 expansion project prefeasibility study in the second quarter, but that an investment decision initially planned for 2020 would be deferred. Trevali previously... Читать дальше...

The A$1-billion Olive Downs metallurgical coal mine being developed by Pembroke Resources in Queensland, has received approvals from the Department of Agriculture, Water and the Environment under the Environment Protection and Biodiversity Conservation (EPBC) Act. Pembroke said on Thursday that the EPBC approvals, along with the grant of an environmental authority by the Queensland government in 2019, provided a clear pathway to the grant of the mining leases and the start of construction, and the creation of over 1 000 new jobs in the region.

Murray Energy allegedly violated a bankruptcy financing agreement after manipulating financial information, according to court papers filed by one of its lenders. GACP Finance, owed some $90-million under a loan tied up in Murray Energy’s bankruptcy financing package, delivered a notice of default to the coal miner on Wednesday, court papers show. The lender alleges Murray improperly included noncoal receivables in a financial report in an attempt to remain compliant with a credit agreement.

TSX-listed First Majestic Silver said on Wednesday that it had served notice to Mexico of its intention to initiate arbitration proceedings under the North American Free Trade Agreement over a tax dispute. The company, which owns three silver mines in Mexico, said that it had unsuccessfully sought to resolve the taxation issue through local bodies.

Dual-listed Chalice Gold mines will raise A$30-million through a share placement to institutional and sophisticated investors to fund the next phase of exploration at its Julimar base metals project, in Queensland. The ASX- and OTCQB-listed company on Thursday said that fir commitments had been received for more than A$75-milion, indicating strong demand. The placement was conducted at a price of A$1.05.

Major Rio Tinto has revealed more than 300 vacancies within its Western Australian iron-ore business, with the miner continuing its recruitment for skilled roles, apprentices, graduates and Aboriginal trainee. The miner this week noted that the available roles included skilled operational and maintenance roles such as frontline supervisors, experienced operators of excavators, haul trucks and graders as well as experienced maintenance staff such as heavy diesel fitters. The roles are a mix of fly-in... Читать дальше...