The briefing on mining
The latest news, trends and data from the mining industry
NEWS IN NUMBERS
A probe into graft at Eskom by South African state investigators has widened to include contracts with five international companies
Attendance at the Prospectors and Developers Association of Canada mining conference this month was down 10%, likely due to fears around Covid-19
After falling the most since 1983 due to Covid-19's impact on the stock market, gold has managed to rise back to $1,600 an ounce
Bryah Resources is cutting director renumerations by 25% from April in order to conserve cash in light of volatile market conditions
The latest from Twitter
Look what CBs did after physical gold trading ended in London. CBs don’t want us thinking #gold is a #safehaven when fiat currency & banks are busted. So paint-the-tape hoping physical gold holders worry over the weekend. Gold’s 5k-yr record says no need to worry. Just like 2008. pic.twitter.com/lwWHH7sLtQ— James Turk (@FGMR) March 14, 2020
As per current estimates, more than 12000 trucks and 150 barges and ancillary units are at a standstill in Goa due to mining stoppage. #2YearsOfStruggle @narendramodi @JoshiPralhad @DrPramodPSawant @nsitharaman @AmitShah @PiyushGoyal @rajnathsingh @PrakashJavdekar @dpradhanbjp https://t.co/uvOqAMBnEd— Tahmeem Shaikh (@TahmeemShaikh) March 16, 2020
Further reading: The five most expensive metals and where they are mined
Rhodium recently hit a new high, trading comfortably above $13,000 per troy ounce. But what does the future hold for rhodium, and can any other mined material hold a candle to its status as the most expensive metal?
Ore sorters go into operation at Mt Cattlin
Galaxy Resources has put its ore sorters into operation at the Mt Cattlin project in Western Australia. Used to detect and reject basalt at the spodumene project's front end, the ore sorters will play a role in Galaxy's further plans to upgrade and process the project's low-grade ore stockpiles.
Barrick to pursue Pueblo Viejo mine expansion in Dominican Republic
Barrick Gold has announced its plans to extend the life of the Pueblo Viejo gold mine in the Dominican Republic beyond 2040.
The Pueblo Viejo mine is a joint venture between Barrick Gold (60%) and Newmont Goldcorp (40%). It is located 100km from the capital city of Santo Domingo.
Coronavirus slows work at Oyu Tolgoi
Rio Tinto has said that precautions relating to the spread of Covid-19 have slowed work at its Oyu Tolgoi project in Mongolia, although the openpit continues to operate.
Black Butte mining project granted preliminary approvals
The state of Montana has granted preliminary approvals of two water permit applications and six water right change applications to the Black Butte copper mine project.
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