The briefing on mining
The latest news, trends and data from the mining industry
NEWS IN NUMBERS
12%
According to data from Markets Insider and Trading Economics, gold prices rose by 12% between 1 January and 8 May.
55%
Barrick reported a quarterly profit rise of nearly 55% on 6 May, thanks in large part to boosted gold prices.
$1.1bn
In its Q1 2020 financial results, steelmaker ArcelorMittal reported losses of $1.1bn as a result of challenges related to the Covid-19 pandemic.
89
According to Russia's public healthy agency, 89 workers at the country's largest gold mine have been diagnosed with Covid-19.
The latest from Twitter
Further reading: 6 things you need to know about sand mining
Think of the materials we mine, and you’ll probably think first of gold and other precious metals; of coal; of base metals like nickel and of battery metals like lithium. You probably won’t think of sand, but those tiny grains form a large part of the most heavily mined commodity on the planet: aggregate. We break down everything you need to know about sand mining.
Source: Mining Technology
PROJECT NEWS
Shandong Gold agrees to buy Canadian firm TMAC Resources
Chinese state-controlled firm Shandong Gold Mining has signed an agreement to acquire all of the outstanding shares of Canadian miner TMAC Resources.
The deal will see the Chinese firm pay C$1.75 ($1.24) a share in cash to TMAC.
Western Australia eases procedures to support mining industry during Covid-19
Western Australia has unveiled new administrative procedures to support mining companies during the coronavirus pandemic.
The state’s Department of Mines, Industry Regulation and Safety (DMIRS) will accept electronic signatures on documents that are not required to be witnessed.
Albemarle expresses interest in Tianqi’s stake in Australia’s Greenbushes lithium mine
Albemarle has expressed interest in acquiring all or part of Chinese manufacturing firm Tianqi Lithium’s controlling stake in Australia’s Greenbushes lithium mine.
The mine is located approximately 250km south of Perth.
Erris secures funding for post-lockdown work of Loch Tay gold project
UK-based mineral exploration company Erris Resources has raised approximately £330,000 ($410,000), through a share placing, in order to advance its Loch Tay gold project in Scotland once lockdown restrictions are lifted in the country.
Erris noted that 7,767,357 shares were placed priced at 4.25 pence per share.
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