Новости за 20.07.2020

In response to a letter from the Equitable Access Campaign (EAC), published by Mining Weekly on June 26 – which highlighted the plight of small-scale marine diamond miners operating off the coast of Alexander Bay – Sable Metals & Minerals CEO James Allan reiterates that a panel should be appointed to fix State-owned diamond mining company Alexkor. He emphasises that by appointing a panel of reputable and knowledgeable experts to investigate the severely depleted land resources, and professionally... Читать дальше...

LSE-listed Petra Diamonds is selling its exploration assets in Botswana, held through Sekaka Diamonds, to Aim-listed Botswana Diamonds (BOD) for $300 000 and a 5% royalty on future revenues. The exploration assets include the KX36 diamond discovery, along with two adjacent prospecting licences and a diamond processing plant.

The Mt Arthur coal mine in Australia is one of the world’s best. It’s got plenty of reserves and the low-cost supplies produced there are easily shipped to Southeast Asia, where there’s insatiable appetite for the fuel. Yet owner BHP Group has a problem: It’s struggling to find a buyer willing to pay the right price. The world’s biggest mining company’s unsuccessful effort over the past year to offload the asset highlights the predicament producers are in. To bow to mounting investor pressure to exit the most polluting fuel... Читать дальше...

Both spot and front-year coal prices recorded gains, as Glencore seeks to suspend operations at its Prodeco unit in Colombia for up to four years. Producers in both Colombia and Russia have recently taken steps to limit output, to help reduce market oversupply at current demand levels.

Bullish factors building in the bullion market are set to see prices take out the record set in 2011, according to Citigroup. Prices are benefiting from loose monetary policy, low real yields, record inflows into exchange-traded funds and increased asset allocation, analysts including Ed Morse wrote in the bank’s third-quarter commodities outlook. Gold is expected climb to an all-time high in the next six-to-nine months, and there’s a 30% probability it’ll top $2 000/oz in the next three-to-five months.

ASX-listed Aeris Resources has entered into an unsecured copper hedge with Macquarie Bank for 9 000 t of copper at a forward price of A$9 096.80/t. “With the current copper price significantly above our budgeted price for the first half of the 2021 financial year, we have taken the opportunity to hedge 75% of our copper production over the next six months,” said executive chairperson Andre Labuschagne.

Diversified miner South32 has reported an increase in alumina and metallurgical coal production during the fourth quarter ended June, along with silver and lead production, while production for all other commodities were down on the previous quarter. “Our priority remains keeping our people safe and well, maintaining reliable operations and supporting our communities through the Covid-19 pandemic,” said CEO Graham Kerr on Monday.