Mining Weekly
De Beers to explore for diamonds in north-eastern Angola
Tue, 07 Dec 2021 16:25:00 +0200
Diamond miner De Beers Group has applied to conduct exploration activities in north-eastern Angola following substantive and consistent reforms implemented by the country's government that enable the country’s diamond endowment to underpin transformative socioeconomic growth for local communities. Following the Mineral Rights application submission, De Beers and the government of Angola will open discussions in an effort to agree a mineral investment contract, which would establish legally binding terms and conditions to be met by both parties for activities in north-eastern Angola.
Galileo signs option agreement to earn 51% interest in Zambia copper/gold project
Tue, 07 Dec 2021 15:58:00 +0200
Aim-listed Galileo Resources has entered into an option and joint venture (JV) agreement with Garbo Resource Solutions to earn an initial 50% interest in the Shinganda copper/gold project, in Zambia. Galileo has committed to spending $500 000 on exploration and evaluation at Shinganda over a two-year period.
Specify energy transition action now, the money’s there for it, UN climate envoy urges
Tue, 07 Dec 2021 15:50:00 +0200
The energy transition is woefully under specified, the United Nations special envoy on climate change action and finance Mark Carney told a global webinar, in which he described the specifying of energy transition action as being “a matter of urgency”. Such specification, the webinar heard, needed to include:
Shanta lowers New Luika full-year output guidance
Tue, 07 Dec 2021 15:18:00 +0200
Aim-listed Shanta Gold has lowered its full-year production guidance for the New Luika gold mine, in Tanzania, to between 55 000 oz and 57 000 oz of gold. This compares with the previously guided 60 000 oz to 65 000 oz of gold. Shanta attributes the lower guidance to operational difficulties as a result of the supply, by a third-party vendor, of an unreliable emulsion product and underground production charging units during the fourth quarter.
NUM concerned about ‘deepening crisis’ in South Africa
Tue, 07 Dec 2021 15:05:00 +0200
The National Union of Mineworkers (NUM) has expressed concern about the “deepening crisis” in South Africa, saying it feels that the “gains of the 1994 democratic breakthrough are fast withering away under the weight of deepening inequality and mass unemployment”. During its extended national executive committee (NEC) meeting earlier this month, the attendees noted that while the union “did not need Covid-19 to lay bare the depth of the social, economic and political crisis facing South Africa”, the pandemic has made everything more stark.
Gemfields' latest emerald auctions generate a record $37.9m in revenue
Tue, 07 Dec 2021 14:55:00 +0200
A series of five emerald mini-auctions in November and December has generated a record $37.9-million in revenue for gemstone miner Gemfields. All carats on offer were sold and the emeralds were sold for an average of $150.65/ct.
Chile copper exports soar to $4.9bn in November on high global prices
Tue, 07 Dec 2021 14:11:00 +0200
Chile, the world's top copper producer, saw exports of the red metal soar over 35% to $4.92-billion in November, the Andean country's central bank said on Tuesday, bolstered by strong global prices of the metal. That helped the country post a trade surplus of $834-million in the month, despite the strong growth of imports. Overall exports rose some 30% year-on-year to $8.4-billion, while imports climbed 57% to $7.58-billion.
Pasofino raises $5.5m for Dugbe study
Tue, 07 Dec 2021 12:17:00 +0200
Canadian mineral explorer Pasofino Gold has entered into a nonbrokered private share placement to raise $5.5-million, of which about $4.5-million has been subscribed for by Turkish miner Esan. The funding provides sufficient capital for Pasofino to complete the definitive feasibility study on Aim-listed Hummingbird Resources’ Dugbe gold project, in Liberia, over which Pasofino has an earn-in agreement. The study is on track to be delivered in the second quarter of 2022.
Solaris to spin out noncore assets
Tue, 07 Dec 2021 11:26:00 +0200
Vancouver-headquartered Solaris Resources will transfer its noncore assets in Ecuador, Peru, Chile and Mexico into a newly incorporated subsidiary, named Solaris Exploration, leaving the parent company to focus on advancing the Warintza project, in Ecuador. Solaris Exploration will not be listed on any stock exchange after closing of the spin-out, although such plans may be looked at in due course.
Mountain Province reports strong demand for its diamonds
Tue, 07 Dec 2021 11:14:00 +0200
Canadian diamond miner Mountain Province has achieved sterling results in its December sale, reinforcing its confidence in a robust diamond market heading into 2022, president and CEO Mark Wall reported on Monday. During the most recent December sale, 388 573 ct were sold for total proceeds of C$42.7-million ($33.3-million), resulting in an average value of C$11/ct ($86/ct). Including this sale, Mountain Province reported total proceeds of C$85.2-million for the fourth quarter, resulting in an average value of C$105/ct ($83/ct).
Newmont to sell first sustainability-linked bonds from a miner
Tue, 07 Dec 2021 10:59:00 +0200
Newmont, one of the world’s largest gold miners, is selling $1-billion of bonds giving it a financial incentive to cut emissions and improve corporate governance, the first company in the energy-intensive industry to issue such securities. The company’s 10-year bonds will pay investors a higher interest rate if it fails to cut emissions, or to sufficiently boost the percentage of women in its senior leadership positions by 2030, Newmont said in a filing.
Copper Mountain shipments unaffected by heavy rains
Tue, 07 Dec 2021 10:56:00 +0200
Base metals miner Copper Mountain said on Monday that there had been no material impacts so far to its operations, production or concentrate shipments as a result of heavy rain, flooding and mudslides in British Columbia. The mine continued to truck its concentrate to the port of Vancouver and, while there had been temporary road closures, the company had not experienced any material impacts on shipments.
Yamana receives expansion permit for Jacobina
Tue, 07 Dec 2021 10:53:00 +0200
Canadian gold miner Yamana Gold has received the permit at its Jacobina mine, in Brazil, to expand throughput to 10 000 t/d, marking not only a significant milestone in the Phase 2 ramp up to 230 000 oz/y, but also facilitates the future Phase 3 expansion to bring production up to 270 000 oz/y. The company reported that it would immediately begin to ramp up throughput to the Phase 2 rate of 8 500 t/d, from the previously permitted rate of 7 500 t/d. The Phase 2 objective of 8 500 t/d would be achieved by the second quarter of 2022 – about a year earlier than originally planned, Yamana reported on Monday.
Vedanta to support Zambia on green energy transition goals
Tue, 07 Dec 2021 10:32:00 +0200
Natural resources company Vedanta intends to support the Zambian government in its green energy transition goals, it confirmed on December 7. This decision was bolstered by the steps already taken by the government, including the appointment of the country's first Green Economy and Environment Minister Collins Nzovu in September and are aligned to the further initiatives that have been presented, it said in a statement.
Offshore wind could power Alcoa's Portland smelter in Australia
Tue, 07 Dec 2021 10:07:00 +0200
Australia's Alinta Energy said on Tuesday it is considering building a A$4-billion ($2.8-billion) offshore wind farm to supply Alcoa Inc's Portland aluminium smelter and the country's east coast grid. The project is at a very early stage, with Alinta studying a 500 km2 area offshore where it sees potential to tap a strong wind resource. It would need to complete environmental studies, technology and cost studies as well as seek government and community approvals before going ahead.
Falcon IPO raises A$30m
Tue, 07 Dec 2021 10:05:00 +0200
ASX-listed Chalice Mining on Tuesday said that the initial public offer (IPO) of its spin-off Falcon Metals, had raised A$30-million. Chalice earlier this year flagged the demerger of its Australian gold assets into a stand-alone, listed Australian gold-focused exploration company, following a strategic review of Chalice’s portfolio, which concluded that a demerger of the gold assets, including the Pyramid Hill project in Victoria, was the optimal structure to maximise shareholder value.
Triton flags increased output from pilot plant
Tue, 07 Dec 2021 09:53:00 +0200
ASX-listed Triton Minerals has flagged a 50% to 70% production capacity increase from its commercial pilot plant (CPP) at the Ancuabe graphite project, in Mozambique. The company on Tuesday said that a revised desktop study of the CPP now envisaged a 250 000 t/y plant capable of producing between 15 000 t/y to 17 000 t/y of graphite concentrate, at no increase to capital costs.
Activists making wave at Carmichael
Tue, 07 Dec 2021 09:51:00 +0200
The Queensland Resources Council (QRC) has called for tougher penalties for protestors who break the law and disrupt the lawful activities of mining companies. The call comes as activist activities outside of the Carmichael coal mine ramped up.
Dubbo optimisation proves positive for ASM
Tue, 07 Dec 2021 09:49:00 +0200
An optimisation study into the Dubbo polymetallic project, in New South Wales, has confirmed the project’s economics, ASX-listed Australian Strategic Materials (ASM) said. The optimisation work simplified the Dubbo project process flow sheet and incorporated new operating strategies that will reduce operating costs and improve the environmental and social governannce (ESG) performance of the Dubbo project.
Thiess wins A$200m in mining contracts
Tue, 07 Dec 2021 07:37:00 +0200
Mining contractor Thiess has secured two mining services contracts in Queensland, with a combined value of some A$200-million. The company was awarded a 12-month contract extension to its existing contract with mining BHP Mitsubishi Alliance for the provision of mining and maintenance services at the Caval Ridge coal mine.