Новости за 05.08.2020

Independent investment management firm Afena Capital has acquired a beneficial interest in ferrochrome producer Merafe Resources and now holds 5.82% of the issued ordinary share capital. Afena Capital aims to responsibly grow its clients’ wealth by generating sustainable inflation-beating investment returns which are superior to that of its industry peers and ahead of the relevant benchmarks.

With retail investors owning close to 40 000 t of gold, valued at about $2-trillion, the World Gold Council (WGC) aims to set the bar for product providers across the global retail gold market and further encourage retail investors to place their trust in gold through the publication of its Retail Gold Investment Principles (RGIPs). The RGIPs are intended to provide high-level, best practice principles for providers of all kinds of retail gold investment products and, through their adoption, ensure the highest levels of fairness... Читать дальше...

ASX- and JSE-listed Orion Minerals has requested a trading halt in its shares in anticipation of a proposed capital raising. The company has requested two consecutive trading halts until the start of trade on August 10, or such earlier time as it makes an announcement to update the market about a potential capital raising.

The Global Tailings Review (GTR) on August 5 launched the Global Industry Standard on Tailings Management, which aims to ensure tailings dam failures are a thing of the past. The GTR was co-convened by the United Nations Environment Programme (UNEP), the Principles for Responsible Investment (PRI) and the International Council on Mining and Metals (ICMM), in response to the catastrophic failure of a tailings facility at the Córrego do Feijão mine, in Brumadinho, Brazil, in January 2019.

A landmark decision by the Water Tribunal confirms that water licensing authorities must consider the impacts of climate change when deciding whether or not to grant water use licences for new coal-fired power stations. In a decision handed down on July 21, the tribunal upheld an appeal to set aside the two water use licences granted by the Department of Water Affairs and Sanitation (DWS) to Acwa Power for the development of a new coal-fired power station, Khanyisa.

The London Bullion Market Association’s (LBMA’s) gold price hit an all-time record high at $2 034.45/oz  on August 5 – representing the first time in its more than 100-year history, that the London price of gold has exceeded $2 000 a troy ounce.   The new record price continues gold’s rapid rise from the metal’s opening price on January 2 at $1 520.55/oz. Since then, it has gained 33.8% in the 149 trading days to date, breaching $1 900/oz for the first time on July 24.

Shareholder activism organisation Just Share has described the ‘Climate Related Financial Disclosures’ report published by Investec in May as having set a new benchmark for South African banks in climate-risk disclosure. The Just Share analysis has been released ahead of Investec’s August 8 annual general meeting, at which shareholders will vote on a climate resolution that, if approved, will authorise the directors to continue with the group’s commitment to carbon neutrality and to report yearly on progress made on climate-related exposures.

Donald Trump Jr. took to Twitter on Tuesday to oppose a mining project in southwestern Alaska that his father’s administration has previously supported. Trump Jr. said he “100%” agreed with Vice President Mike Pence’s former chief-of-staff Nick Ayers in opposing the Pebble mine, which has known deposits of copper, gold and other metals, saying that the nearby Bristol Bay and surrounding fishery are “too unique and fragile to take any chances with". Less than two weeks ago the mine secured a final... Читать дальше...

JSE- and NYSE-listed Gold Fields expects its basic earnings a share for the six months ended June 30 to be between 90% and 110% higher year-on-year at between $0.17 and $0.18. Headline earnings per share (HEPS) for the first half of the year are expected to be between $0.19 and $0.20, which is at least 290% higher than the HEPS of $0.05 apiece reported in the first half of 2019.

JSE- and NYSE-listed DRDGold has reported a 9% year-on-year increase in gold production to 174 385 oz in the financial year ended June 30. The company attributes the increase in output to a larger contribution from the Far West Gold Recoveries operation, which it acquired from gold miner Sibanye-Stillwater in 2018.

Peru, a top global metals exporter, saw its output of copper, gold and zinc nosedive in the first half of 2020, ravaged by restrictions put in place to curb the coronavirus outbreak, the government said on Tuesday. The world's No. 2 copper producer said production of the red metal plunged 20.4% in the first half of 2020 versus the same period in 2019. Gold production also fell 34.7% in the first six months of the year, while zinc output dropped off 23.7%, the country's Energy and Mines ministry said in a statement.

Gold’s scorching rally gathered more force, with prices driven higher into record territory above $2 000/oz as investors assessed prospects of more stimulus to combat the pandemic’s fallout, another slide in US real yields and increased geopolitical risks. Bullion is up more than 30% this year, and could extend gains as governments and central banks respond to slowing growth with vast amounts of support. The haven’s allure as a store of wealth is strengthening as investors face the prospect of a long global recovery... Читать дальше...

The Beyondie sulphate of potash (SoP) project, in Western Australia, is more than 50% complete, ASX-listed Kalium Lakes said on Wednesday. The project is tracking ahead of schedule, the company told shareholders. Following a recent capital raise, construction has started on a number of project areas, with more than 100 staff on site during July, with numbers expected to grow to 200 in the coming months.

A scoping study for the eight-million-tonne-a-year Etango uranium project, in Namibia, has shown that the project would have a mine life of some 14 years. Owner Bannerman Resources on Wednesday reported that the scoping study estimated a life-of-mine production of 51.5-million pounds of uranium oxide, with average annual production of 3.5-million pounds. The project is expected to require a capital investment of $254-million, delivering an up-front capital intensity of around $71/lb.

The Lake Way potash project, in Western Australia, is fully funded after owner Salt Lake Potash executed a $138-million debt financing package and a fully underwritten equity placement and accelerated non-renounceable entitlement offer to raise A$98.5-million. The ASX-listed Salt Lake on Wednesday said that a $138-million syndicated facility agreement was struck with Taurus Mining Finance Fund, which will provide $91-million in funding, and the Australian federal government’s Clean Energy Finance Corporation (CEFC)... Читать дальше...

Mining major Rio Tinto has admitted to missing ‘various opportunities’ to re-evaluate the mine plan for its Brockman 4 operation, in the Pilbara, which resulted in the destruction of two sacred Aboriginal caves. Blasting operations undertaken in May resulted in destruction of the Juukan Forge rock shelters, which showed evidence of continual habitation dating back some 46 000 years.