Новости за 05.11.2020

State-owned electricity utility Eskom argued on Thursday that it required additional revenue of R23-billion for the upcoming financial year to remain a going concern and told the National Energy Regulator of South Africa (Nersa) that further tariff increases, beyond the 5.22% already approved for next year, were required to enable it to migrate to financial sustainability.   Nersa is currently hosting public hearings as part of its deliberations on how to implement a regulatory clearing account (RCA) balance that had already been approved... Читать дальше...

Further to a statement released earlier this week, chrome producer organisation ChromeSA has explained the evidential rationale behind its dismay at Cabinet’s proposed export tax on chrome ore. Cabinet on October 22 released a statement in which it said it approves of measures to support the domestic ferrochrome industry, including through an export tax on chrome ore.

Dual-listed Jubilee Metals Group has successfully concluded further transactions to secure the rights to an additional about 115-million tonnes of copper- and cobalt-containing surface tailings in Zambia. These transactions are in line with its stated strategy to expand operations in the country and are in addition to the about 155-million tonnes of tailings that has already been secured.

Gold climbed over $1 900 and copper fell as investors awaited the final outcome of the US Presidential election, with Joe Biden on the brink of taking the White House from Donald Trump, but Republicans likely to maintain their hold on the Senate. The still-unresolved outcome -- due to an unusually large number of mail-in ballots because of the coronavirus -- spurred the market to reassess the potential scale and timing of a much-needed US fiscal stimulus package, the trajectory of the dollar and appetite for risk. Читать дальше...

London-listed Central Asia Metals Limited (CAML) is considering reinstating the 2020 interim dividend during the fourth quarter, as the Sasa operation, in North Macedonia, has returned to full production following the September tailings leak. CEO Nigel Robinson said on Thursday that the Sasa site team had made good progress advancing the river remediation plans and that the company had worked closely with the local mayor and authorities to maintain their support during this period. Following receipt of the appropriate Ministerial approvals... Читать дальше...

Bullion major Barrick on Thursday announced another quarterly dividend hike – the third increase in the past year – as the company reported record free cash flow and a big jump in third-quarter earnings. The Canada-based gold mining company increased its dividend by 12.5% to 9c a share. This, CFO Graham Shuttelworth said, meant that Barrick’s dividend had tripled since the announcement of its merger with Randgold just over two years ago. “The board believes that the current dividend increase is... Читать дальше...

Canadian diamond miner Lucara Diamonds, luxury goods house Louis Vuitton and European diamond manufacturing and technology company HB Antwerp, have entered into an agreement to collaborate on the planning, cutting and polishing of a 549 ct white gem diamond. The white gem diamond, referred to as “Sethunya”, which means flower in Setswana, was recovered unbroken from direct milling of ore sourced from the EM/PK(S) unit of the South Lobe of Lucara’s wholly-owned Botswana-based Karowe mine, in February.

The rough diamond market is starting to show some positive momentum, with prices having recovered close to pre-Covid levels from the lows seen during the peak of the pandemic, Canadian miner Mountain Province CEO Stuart Brown said on Wednesday. Although demand for rough diamonds was not yet back to pre-Covid-19 levels, the low amount of supply coming into the market had helped raise industry confidence levels, he said.

Canada-listed Turquoise Hill is taking Rio Tinto, its controlling shareholder, to arbitration over a disagreement on how to fund the cost blowouts at the Oyu Tolgoi project, in Mongolia. The company announced on Thursday that it had started arbitration proceedings in British Columbia to seek clarity on the obligations of Rio Tinto support the company in seeking additional financing for Oyu Tolgoi. Rio Tinto last month said it would not consent to debt of more than $500-million in additional lending... Читать дальше...

Canadian uranium major Cameco remains “very bullish” on the uranium market, citing the role of nuclear power in a global move towards electrification and decarbonisation. CEO Tim Gitzel said on Wednesday that China would require an estimated quadrupling of nuclear power capacity to meet its goal of having 25-million electric vehicles on the road by 2030, while achieving carbon-neutrality before 2060. “That would be about 200 reactors for China alone, double that of the US fleet, which is currently the largest in the world. Читать дальше...

Indian major Adani has rebranded its Australian mining business as Bravus Mining and Resources, marking its ten-year anniversary of operations in Australia. Bravus Mining and Resources CEO Mr David Boshoff said now that construction of the Carmichael project was well under way, it was the ideal time to give Adani’s mining business its own Australian brand. “We have made a significant investment in Queensland and we will be here for the long haul employing local people and doing business in Australia,” Boshoff said. Читать дальше...

Chile's world-leading copper industry will see investment lag for at least two years as the country rewrites a constitution that underpinned nearly three decades of mining growth in the South American nation, a senior mining official told Reuters. "Hardly a project of a very large magnitude will be carried out in the next two years until there is clarity around the new constitution," Diego Hernández, president of Chile's National Mining Society (Sonami), said on Tuesday. "And I don't think it is... Читать дальше...