Tsingshan's nickel pig iron (NPI) plant in Indonesia. Image from Nickel Mines Ltd. In its latest report, Fitch Solutions revised down most of its 2020 mining production as well as metals production and consumption forecasts and said it will keep adjusting estimates in line with the evolution of the situation and of government and company announcements.Prior to the pandemic, Fitch expected nickel...Read More
The fundraising comprises a $3.2 million placement to undisclosed investors and a $2.7 million entitlement offer, with new shares being priced at 6c each. El Zorro gold mineralisation has been classified as intrusive related and representing a "district scale gold system".To date gold mineralisation has been proven over 1.5km of strike.The next drilling campaign is set to comprise 4,000-5,000...Read More
Implats said increased economic uncertainty caused by the COVID-19 pandemic had prompted the board to re-evaluate its corporate strategy.The development is unexpected after Implats committed to spent R55 million (US$3.2 million) on exploration and had said the campaign was making "positive progress".Impats said it would continue to fund the programme to completion by August.The company said i...Read More
The company said the A$130 million increase was supported by members of the its existing $400 million revolving credit facility, which matures on July 1, 2023.Read More
Statistics South Africa said the data, released late last week, showed the COVID-19 pandemic and lockdown regulations had "an extensive impact on economic activity".The department said PGM production fell 62% compared with a year earlier, iron ore fell 68.7%, gold 59.6% and manganese ore by 57.6%.It said seasonally adjusted mining production decreased by 34.1% in April compared with March 2020.Col...Read More
Lithium Power International (ASX: LPI) is a pure-play lithium company focused on the development of Chile's next high-grade lithium mine. The Maricunga JV, in which LPI holds a 51% interest, is the highest quality, pre-production, lithium brine project, in South America and has one of the world's highest-grade lithium resources at 1,167 mg/l lithium and 8,500 mg/l potassium. The 2019 JORC and NI 4...Read More
A report by Fitch Solutions states that global gold mine production growth is expected to rebound in the coming years underpinned by higher gold prices and mergers between major mining firms."We forecast global gold production to increase from 106 million oz. in 2020 to 133 million oz. by 2029, averaging 2.5% annual growth," the document states. "This would be an acceleration from the average grow...Read More
At least 1.1 tonnes of gold mined in the Democratic Republic of Congo (DRC) were smuggled last year into countries along the eastern border, costing the impoverished nation millions of dollars in tax revenue and funding conflict and criminal networks, a United Nations Group of Experts report shows.Congo's official exports of gold extracted by artisanal miners bear almost no relation to reality, th...Read More
Kinross Gold (TSX: K; NYSE: KGC) has reached an in-principle deal with the government of Mauritania, which the company says will better balance the interests of both parties in the Tasiast gold mine.Under the terms of the agreement, Mauritania would provide Kinross with a 30-year exploitation licence for Tasiast Sud, granted with expedited permitting and the possibility of early mining.It could al...Read More
The global Top 40 mining companies are so far weathering the Covid-19 storm mostly unscathed, but the longer-term impacts remain uncertain and ongoing disruption is likely, according to PwC's Mine 2020 report.The International Monetary Fund (IMF) predicts a 3% contraction in the global economy for 2020, but sees the mining sector in good condition on the back of a solid financial performance in 20...Read More
Deflation is central bankers' worst enemy. Don't believe what they say (ever), believe what they do.By the time you read this there will be over 40 million people who have filed for unemployment yet the Fed chairman Jerome Powell knows that to maintain the illusion of "order" the financial markets must be supported at all costs.To that end, the Fed has done an excellent job thus far. Making sure w...Read More
Wheaton (WPM) likely to benefit from expansion moves, higher gold prices and strong cash position.Read full newsRead More
Omineca Mining and Metals aims to culminate its 2020 program with drilling.Read full newsRead More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN took a spirited run at the 1,000 level but ran into heavy resistance at 992-993. Ultimately, it was then yanked downward along with correcting US markets and fell 40.95 points to close at 930.31 for a loss of 4.2%.MACD sunk 8.35 points to 0.43. A week after establis...Read More
Commodities are largely undervalued, offering clear opportunities for eagle-eyed investors seeking contrarian opportunities. Growth could abound in the following five metals, so let’s examine an exemplary stock for each one, along with the five persuasive reasons to get invested.Three metals stocks for energy disruptionIt’s no secret that hydrocarbon energy is a rapidly weakening inves...Read More
Russian imperial eagle, Saint Petersburg. (Image by George Shuklin, Wikimedia Commons). A report by Fitch Solutions states that global gold mine production growth is expected to rebound in the coming years underpinned by higher gold prices and mergers between major mining firms."We forecast global gold production to increase from 106moz in 2020 to 133moz by 2029, averaging 2.5% annual growth," th...Read More
Containment bons in the Ambarnaya river. (Image courtesy of Nornickel). Clean-up costs for the fuel spill that took place in late May at Nornickel's Heat and Power Plant ?,,- 3 near Norilsk, in north-central Russia, add up to $150 million, according to information released by the company this week.To this amount, the company will have to add a series of financial penalties that will be calculated...Read More
Microscope. (Reference image from Pikrepo). Arash Komeili, a Bakar Fellow at the University of California - Berkeley, just discovered that some species of aquatic bacteria may help miners in finding new ways to extract metals for commercial value or environmental cleanup. In an article prepared by UC, Komeili explained that the bacteria that he is studying are capable of drawing in dissolved iro...Read More
When Trent Mell, the president and CEO of First Cobalt, contacted our newspaper last week and asked what our thoughts were on tackling the George Floyd protests as they relate to the mining industry, and said he was thinking about both what he could do as an individual and what the industry could do as a whole about the barriers put up by systemic discrimination, I told him that a good first step...Read More
Copper demand is expected to grow over the coming years, as the world continues the transition to electric-powered vehicles. However, many industry watchers have noticed a scarcity of pre-production copper assets for this expanding market. Below, we provide an overview of seven companies working to advance copper projects around the world. Carube CopperThe contact between Main Ridge's hematite an...Read More