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Mining Bulletin

The full story: In-depth news and analysis

K92 MINING PNG EXPANSION COMES WITH Q1 20 GOLD FALL

Copper-silver offset Q1 20 gold fall as the ramp-up of K92 Mining’s Kainantu PNG underground expansion gathers pace

CHINA GOLD INT’L FY19 LOSS BLOW OUT, DESPITE 15% REVENUE JUMP

Lower gold, higher tax contribute to China Gold Int’l Res bottom line loss increasing $28M to $32M

COVID-19 FALL OUT CUTS YAMANA Q1 20 GOLD-SILVER PRODN

Yamana Gold flagging H2 20 return to normal operations after COVID-19 restrictions throughout the Americas cut Q1 20 gold equiv output to 221,746oz

ALLEGIANCE AWARDS EXCLUSIVE SALES DEAL FOR REVIVAL OF NEW ELK COKING COAL MINE

Australian-based developer Allegiance Coal has wrapped up the supply chain from coal face to customer for its planned revival of the New Elk metallurgical coal mine in SE Colorado, USA.

BIO-OXIDATION KEY TO RESTART GOLDEN MINS’ MEXICAN SILVER-GOLD MINES

Golden Mins PEA flags new option for low-cost restart for the Velardeña silver-gold properties in Mexico’s to produce 20Moz AgEq over 10-year LoM

EVOLUTION COMPLETES $375M ACQUISITION OF RED LAKE GOLD COMPLEX

Evolution Mining is expecting 25,000oz in the June 2020 qtr from the Red Lake gold operation it has just acquired from Newmont for $375M

SIERRA METS FY19 PROFIT SLUMPS $14M+ TO $4.4M DESPITE PRODN JUMPS

A FY19 that saw all its mineral products up, Sierra Metals’ has seen its net profit plummet to $4.4M on lower metal prices and higher costs

NEW STUDY FLAGS 3.1Moz OVER 15-YEAR LoM FOR TMAC’S HOPE BAY

TMAC’s Hope Bay gold expansion PFS sees a $1.2B project producing an initial 3.1Moz over an initial 15-years

NEW HIGGINSVILLE OPERATION SEES RNC CUT FY19 LOSS TO $7M

Lower Beta Hunt gold production, off-set by a 1st up H2 19 16,635oz from recently acquired Higginsville cuts RNC FY19 loss to $6.9M

ENDEAVOUR $1B SEMAFO BID TO TAKE NEW ENTITY BEYOND 1Moz pa

Endeavour all-share bid for SEMAFO to create the biggest gold producer in Burkina Faso/Ivory Coast

KIRKLAND CUTS DETOUR PRODN, SUSPENDS EXPLN COMPANY-WIDE

Kirkland Lake has followed the shutdown of 2 Aussie gold projects with cuts at Detour Lake and the suspension of all exploration

NEWMONT FLAGS LOWER Q1 20 PRODN, 4 OPERATIONS ON C&M

New moves by gold major Newmont to offset the global COVID-19 pandemic prompts 4 temporary mine closures and an expected Q1 20 prodn fall

12% KENMARE FY19 PROFIT SLUMP TO $44.8M

Increased product prices received for a 3% revenue jump has failed to offset a 12% fall in Kenmare’s FY19 profit to $45M, with warnings of uncertain times ahead

ANGLO AMERICAN STILL ON TARGET DESPITE VIRUS-DERIVED SLOWDOWN AT QUELLAVECO

National quarantine to combat coronavirus forces demobilisation of most of the 10,000 workforce on Anglo American’s $5.3B Quellaveco copper project in southern Peru.

FROM A TO Z, BARDOC STUDY POINTS TO SIGNIFICANT NEW AUST MID-TIER MINER

Strong PFS results highlight Bardoc Gold’s opportunity to develop a substantial new mid-tier Australian gold project with outstanding economics and strong financial returns just north of the world-class Kalgoorlie mining hub.

RIO TINTO WEIGHS IMPACT OF COVID-19 RESTRICTIONS ON OYU TOLGOI UNDERGROUND MINE

Coronavirus restrictions on the movement of goods and people within Mongolia threaten to further delay completion of the vital underground expansion of the Rio Tinto-operated Oyu Tolgoi copper-gold mine.

NORDGOLD TAKEOVER BID FOR CARDINAL RESOURCES

Gold miner Norgold has acquired 19.9% of Aussie explorer Cardinal Resources and its advanced Ghana gold project, and flagged a cash bid for the rest. By Mark Mentiplay

KINGSROSE MINING $15M TURNAROUND TO $6.6M H1 20 PROFIT

Kingsrose Mining cranking up to extend and increase its Sumatra gold operations beyond mid-FY2020

KIRKLAND LAKE SHUTTING 2 AUSSIE GOLD PROJECTS

Kirkland Lake to shut down 2 of its “non-core” Australian gold operations. About 250 to lose their jobs

PIVOTAL FY19 SEES ENDEAVOUR PROFIT UP 39% ON INCREASED PRODN

New mine production lifts Endeavour Mining gold output 6% to 651,000oz and profit to 39% to $74M
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START THE WEEK: COMMODITIES (April 3, 2020)

LME ($US), Apr 3 –
Aluminium 1,452.00
Copper 4,863.50
Zinc 1,862.00
Nickel 11,192.00
Lead 1,661.00
Tin 14,465.00
Cobalt 29,500.00
Gold 1,620.20
Silver 14.360

COMEX ($US), Apr 3 –
Gold 1,648.80
Silver 14.52
Copper 2.1775
Platinum 724.60
Palladium 2,118.00

LBMA price data ($US), pm Apr 3 –
Gold 1,613.10
Silver 14.39000
Platinum 714.00
Palladium 2,140.00

NYMEX ($US) 62% Fe CFR China, Apr 3 –
Iron ore 82.38

DATADIGGING: TRACKING THE IMPACT OF COVID-19 (April 5, 2019)

Keep track of how the global COVID-19 coronavirus pandemic is affecting the resource sector around the world. This list of original articles published in MiningBusiness.net will be regularly updated over the coming weeks.
(Note: Some articles will be accessible only by full subscribers.)

START THE WEEK: CALENDAR (April 6, 2020)

Public holidays –
Apr 6-9: Public Holiday (Bangladesh)
Apr 6: Qing Ming Jie Holiday (China)
Apr 6: Mahavir Jayanti (India)
Apr 6-11: Public Holiday (Jordan)
Apr 6: Chakri Day (Thailand)
Apr 7: Motherhood and Beauty Day (Armenia)
Apr 7: People’s Revolution Day (Kyrgyzstan)
Apr 7: Health Day (Mongolia)
Apr 7: Women’s Day (Mozambique)
Apr 7: Tutsi Genocide Memorial Day (Rwanda)
Apr 7: Bak Full Moon Poya Day (Sri Lanka)
Apr 7: Karume Day (Tanzania)
Apr 7: World Health Day (Turkmenistan)

DATADIGGING: RAPID CHANGES SPREAD COVID-19 WORLD IMPACT

Growing numbers of resources sector projects and mining companies report disruptions to production and financial performance around the world as the global COVID-19 coronavirus pandemic continues its exponential growth.
As well as committing to observe official restrictions on travel, personnel and freight movements and business activities, companies have implemented their individual health and safety procedures to protect their workers and their families, local communities and indigenous landholders.

START THE WEEK: COMMODITIES (March 20, 2020)

LME ($US), Mar 20 –
Aluminium 1,580.50
Copper 4,855.00
Zinc 1,880.00
Nickel 11,370.00
Lead 1,673.50
Tin 14,500.00
Cobalt 29,500.00
Gold 1,481.90
Silver 12.380

COMEX ($US), Mar 20 –
Gold 1,504.30
Silver 12.63
Copper 2.153
Platinum 613.2
Palladium 1,517

LBMA price data ($US), pm Mar 20 –
Gold 1,494.40
Silver 12.63000
Platinum 614.00
Palladium 1,635.00

NYMEX ($US) 62% Fe CFR China, Mar 20 –
Iron ore 89.57

START THE WEEK: CALENDAR (March 23, 2020)

Public holidays –
Mar 23: Southern Africa Liberation Day (Angola)
Mar 23: Bridge Public Holiday (Argentina)
Mar 23: Day of the Sea (Bolivia)
Mar 23: Pakistan Day (Pakistan)
Mar 23: Norooz Holiday (Iran)
Mar 23-24: Nowruz/Spring Holiday (Azerbaijan)
Mar 23-24: Nauryz Holiday (Kazakhstan)
Mar 23-24: Public Holiday (Kuwait)
Mar 23-25: Navruz Celebration (Tajikistan)
Mar 24: Memorial Day (Argentina)
Mar 25: Greek Independence Day (Cyprus)
Mar 25: National Holiday (Greece)
Mar 25: Chaitra Zukhladi (India)

DATADIGGING: TRACKING THE IMPACT OF COVID-19

With events progressing so quickly, it’s hard to keep track of how the global COVID-19 coronavirus pandemic is affecting mining companies. This list of original articles published in MiningBusiness.net will be regularly updated over the coming weeks.
Note: Some articles will be accessible only by full subscribers.

START THE WEEK: COMMODITIES (Mar 13, 2020)

LME ($US), Mar 13 –
Aluminium 1,677.00
Copper 5,530.50
Zinc 1,986.50
Nickel 12,565.00
Lead 1,781.00
Tin 16,400.00
Cobalt 28,000.00
Gold 1,521.70
Silver 14.515

COMEX ($US), Mar 13 –
Gold 1,528.90
Silver 14.685
Copper 2.4935
Platinum 763.30
Palladium 1,658.00

LBMA price data ($US), pm Mar 13 –
Gold 1,562.80
Silver 15.77000
Platinum 782.00
Palladium 1,744.00

NYMEX ($US) 62% Fe CFR China, Mar 13 –
Iron ore 90.13

START THE WEEK: CALENDAR (Mar 16, 2020)

Public holidays –
Mar 16: JJ Roberts Birthday Holiday (Liberia)
Mar 16: Benito Juárez's Birthday Memorial (Mexico)
Mar 17: Sheikh Mujibur Rahman’s Birthday (Bangladesh)
Mar 17: St Patrick’s Day (Ireland)
Mar 18: Soldiers’ Day (Mongolia)
Mar 19: Saint Joseph's Day (Costa Rica)
Mar 20: Norooz Persian New Year
Mar 20: Spring Equinox (Japan)
Mar 20: International Francophonie Day (DR Congo)
Mar 20: Independence Day (Tunisia)
Mar 21: Human Rights Day (South Africa)
Mar 21: Al Isra' wal Miraj (Jordan)

NEWCREST MINING UPDATED FY20 PRODUCTION GUIDANCE

Revised production guidance for the 12 months ending 30 June 2020 -

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Mining Billboard

Insights and analysis from leading industry commentators

UTAH POINT SHAPES AS NEW LOGISTICS SOLUTION FOR STRIKE’S PAULSENS EAST PROJECT

(DEVELOPMENT) A possible switch of export venue from Onslow to the larger Utah Point facility could simplify transport logistics for West Australian developer Strike Resources at its Paulsens East iron ore project by removing the need for transhipment barges and double handling of ore and reducing capital costs by use of existing port infrastructure.

SHARED SOCIAL NEEDS RECOGNITION INFORMS MINING’S RESPONSES TO GLOBAL PANDEMIC CRISIS

(COMMENTARY) Many commentators around the world are beginning to see what they hope will be a silver lining to the unfolding tragedy of the COVID-19 pandemic: a renewed sense that, beyond all disputes over economics, all societies must share a sense of common purpose. Call them naive optimists, or snowflakes, but it’s a sense that is shared at the highest levels of the mining sector. As ICMM’s Tom Butler expresses it, there has never been a more critical time to care for people and communities.

COVID-19 PANDEMIC IMPACTS REACH MORE FACETS OF RESOURCE COMPANY OPERATIONS

(DATADIGGING) Our review of MiningBusiness.net stories over the past week point to impacts of the COVID-19 coronavirus pandemic on nearly all areas of operational, exploration-development-production and financial performance by companies across the global mining sector.

PLATINUM BIG GUNS SILENCED

The world’s big 3 platinum producers have all declared force majeure after South African mines shutdown

RAPID COVID-19 CHANGES SPREAD WORLD MINING IMPACT

Datadigging helps you keep track of how the COVID-19 pandemic is affecting the resources sector around the world.

EMPTY SKIES SYMBOLISE EXTRA CHALLENGES FOR MINERS SIDE-STEPPING COVID-19 BANS

(CORONAVIRUS) Even where they benefit from exemptions from the anti-coronavirus restrictions on general travel and industry operations, miners face an additional challenge as the grounding of airlines around the world takes away their regular air freight routes for getting high-value product to market.
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Mining Brokers

START THE WEEK: COMMODITIES (April 3, 2020)

    DATADIGGING: TRACKING THE IMPACT OF COVID-19 (April 5, 2019)

      START THE WEEK: CALENDAR (April 6, 2020)

        DATADIGGING: RAPID CHANGES SPREAD COVID-19 WORLD IMPACT

          START THE WEEK: COMMODITIES (March 20, 2020)

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