The briefing on mining

The latest news, trends and data from the mining industry

NEWS IN NUMBERS

521,600

Anglo American Platinum has reported a loss in platinum group metals production of 521,600oz for the quarter ending 30 June, as a result of Covid-19 restrictions.

15-19

Kumba Iron Ore has reported that a decline in production, as well as reduced iron prices, will see its headline earnings drop by 15-19%.

$995m

The estimated capital cost for Kinross Gold's Lobo-Marte project in Chile has been estimated, with contingency, to be $995m.

Anglo American managed to achieve a return to 90% production by the end of June, as various projects emerged from Covid-19 lockdowns.

The latest from Twitter

Miners may raise $3 billion in streaming deals, Wheaton CEO says https://t.co/dSR8fXDLvY
— BN Commodities (@BNCommodities) July 16, 2020

Rising COVID-19 Virus Infection Rates Have Increased The Risk Of A W-Shaped Economic Cycle. https://t.co/X1KTmgL6Qi #stocks #stockmarket #markets
— Seeking Alpha (@SeekingAlpha) July 16, 2020

Academics from the @OfficialUoM have urged policymakers to harness the “once-in-a-lifetime opportunity” for a green economic recovery following the pandemic in order to reach the #NetZero target. https://t.co/wUiJv988iJ
— Verdict (@VerdictUK) July 16, 2020

BMW has signed a deal with Moroccan cobalt miner Mangem-CTT, the world’s only pure play #cobalt mine, for the procurement of cobalt to be used in Li-ion batteries for its range of electric vehicles. https://t.co/tJVCjJ1yBX #ElectricVehicles #batteries #Morocco #BMW @BMW #EVs
— Roskill (@Roskill_Info) July 16, 2020

PROJECT NEWS

Rio Tinto requests environmental approval for Winu project

Rio Tinto has lodged an environmental approval request for its Winu copper project, in Western Australia. The company plans to have production begin at the site by 2023.

Waterberg advances towards construction and development decision

Following positive results from a definitive feasibility study at the Waterberg Project, Platinum Group Metals is now expecting progress on a construction and development decision, following delays caused by the Covid-19 pandemic.

Barrick to reduce power to Porgera communities

Communities around Barrick's Porgera project currently receive free electricity from the mine but, amid a dispute with the Papua New Guinea Government and the need for cost reductions, the miner will be limiting the time in which power is provided.

Jericho joint venture announces resource estimate

Minotaur Exploration and Oz Minerals have announced that their Jericho joint venture in Queensland has a maiden 9.1 million ounce inferred mineral resource, grading 1.4% copper and 1.3 g/t gold.

Further reading

A more ambitious renewables roll-out would have major benefits for South Africa, new study shows

New research from Meridian Economics and the Council for Scientific and Industrial Research Energy Centre has asserted that a more ambitious renewables build programme than that laid out in the Integrated Resource Plan 2019 would not only bring huge benefits to South Africa but should begin immediately. The study estimates that increasing the country's renewables pathway could attract more than R200bn in investment.

Source: Mining Weekly

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02/17/2024 04:29:39