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Mining Bulletin

The full story: In-depth news and analysis

$1.7B VALE EXPANSION PROJECT DELIVERS FIRST UNDERGROUND ORE AT GIANT VOISEY’S BAY MINE

Delivery of the first production ore from the Reid Brook mine marks a milestone in the transition of the Voisey’s Bay mine on the northern Labrador coast in Canada for global miner Vale from openpit to underground mining.

THIRD PRODUCTION SETBACK FOR ST BARBARA AS SIMBERI FATALITY INVESTIGATIONS CONTINUE

Australian-based St Barbara has withdrawn full year production guidance at its Simberi mine in PNG as investigations into the death of an employee and an unrelated pipeline failure result in an indefinite suspension of mining.

CHAARAT WARNS CENTERRA DISPUTE FALLOUT MAY SLOW KYRGYZ PROJECT

Chaarat Gold Holdings delays first production forecast for its Tulkubash mine project may be delayed up to 12 months due to financial sector uncertainty stemming from the Kyrgyz Republic government seizure of control at Centerra Gold’s Kumtor mine.

ILUKA RESOURCES SETS SUSPENSION DEADLINE FOR STRUGGLING SIERRA RUTILE BUSINESS

Mineral sands miner Iluka Resources faces a diminishing range of options to overcome acute business challenges and avert a premature shutdown of its Sierra Rutile operations in Sierra Leone

GROWING SKILLED LABOUR SHORTAGES PUSH ST BARBARA TO CUT GWALIA GUIDANCE

The hoped-for transition to new underground contractor Macmahon to rebuild operational performance at St Barbara’s Gwalia mine has made a slower than expected start due in part to difficulties in finding staff for critical roles and experienced operators amid a growing skill shortage in Western Australia.

RESOURCE UPDATE HIGHLIGHTS CALIBRE OF RIO TINTO-ANTIPA PATERSON PROJECT

The hugely prospective Paterson Province in Western Australia’s East Pilbara is building more excitement with a 62% increase in inferred resources to 2.7Moz gold equivalent at the Rio Tinto-Antipa Minerals Calibre project.

AUSTRALIAN MINER ORION WINS COURT ORDER AGAINST SOUTH AFRICAN VIOLENCE

South Africa’s Minerals Council has backed Australian-based developer Orion Minerals in its stand against violent illegal protests aimed at its flagship Prieska copper-zinc development project in the Northern Cape Province.

STANMORE LINKS WITH M RESOURCES TO RESTART MOTHBALLED PEABODY AUSTRALIAN COAL MINES

Australian miner Stanmore Coal seeks to take advantage of the many synergies and product blending opportunities with its existing operations after linking with M Resources to acquire the mothballed Millennium and Mavis Downs metallurgical coal mines in Australia’s Bowen Basin from Peabody Energy.

RIO TINTO AGREES FUNDING TERMS FOR OYU TOLGOI UNDERGROUND EXPANSION

Rio Tinto and its subsidiary Turquoise Hill Resources have reached a ‘constructive and equitable agreement’ to end their long dispute over the funding of the underground development of the Oyu Tolgoi copper-gold mine in Mongolia.

SYAMA MINE LIFE UPDATE BOOSTS RESOLUTE GOLD PRODUCTION AND COSTS FORECASTS

Australian-based gold producer Resolute Mining has upgraded life of mine production and costs performance at its Syama mine in Mali based on the success of its continuing exploration and mine design optimisation.

PANORAMIC SEES POSITIVE LOWER-RISK FUTURE FOR RESTARTED SAVANNAH NICKEL SULPHIDE MINE

West Australian miner Panoramic Resources is confident its recapitalisation, move to contractor mining/processing and recent developments will reduce the operating and financing risks that have previously dogged its long-life, high-grade Savannah nickel operation.

VALE PROMISES STRONG FUTURE FOR NEW CALEDONIAN NICKEL GIANT UNDER NEW OWNERS

The new owners of the giant Vale Nouvelle-Caledonia openpit nickel mining and processing complex see a significant future in servicing the growing demand for lithium-ion batteries for the global electric vehicles industry after completing the acquisition of the business from former owner Vale.

1Moz GOLD RESERVES PUT BARDOC ON TRACK TO BECOME SIGNIFICANT MID-TIER PRODUCER

A positive definitive feasibility study puts the Bardoc project on track to pour first gold in the December 2022 quarter, enabling West Australian explorer Bardoc Gold to make the transition to mid-tier producer and significant new gold sector player in the North Kalgoorlie region.

WONMUNNA DRIVES MINERAL RESOURCES TOWARDS ITS NEXT STAGE OF IRON ORE GROWTH

It’s taken West Australian company Mineral Resources just five months from breaking first ground to producing iron ore at its 100%-owned Wonmunna project, achieving the next step in the growth of its Utah Point Hub operations in the Pilbara region.

VITAL METALS SET FOR MINING START ON CANADIAN FIRST RARE EARTHS PRODUCER

Strong support from existing and new institutional investors has raised $A43M to allow Vital Metals to begin production at its Nechalacho rare earths project in Canada’s Northwest Territories in the June quarter.

PERPETUAL RESOURCES TARGETS 2021 FUNDING GO-AHEAD FOR NEW WA SILICA SANDS PROJECT

Australian silica sands project developer Perpetual Resources has underlined the potential of its Beharra project in WA’s Mid West to become the pre-eminent regional supplier of high-quality, low-impurity products to the growing Asia Pacific market.

TURQUOISE HILL CEO QUITS UNDER PRESSURE FROM RIO TINTO OVER OYU TOLGOI FUNDING DISPUTE

Turquoise Hill names ‘independent’ to pursue Oyu Tolgoi expansion funding negotiations with parent company Rio Tinto after chief executive Ulf Quellmann succumbs to pressure and resigns.

MOTHBALLED MINE BUILDS BASE FOR THOMSON RESOURCES’ INTEGRATED SILVER STRATEGY

The successful tender offer for the mothballed Texas project in SE Queensland is key to the plan by Australian explorer Thomson Resources to establish an integrated hub and spoke silver and gold operation straddling the New South Wales and Queensland border.

KIRKLAND LAKE BEATS COVID CHALLENGES WITH RECORD FY OUTPUT AND EARNINGS

Acquisition of the Detour Lake gold mine in Ontario has helped Canadian miner Kirkland Lake Gold to achieve record production, earnings and cash-flows amid the challenges of global pandemic.

FAST-ACTING RESERVES PROGRAM OPENS A DOOR TO RENEWED GROWTH FOR ANGLOGOLD

AngloGold Ashanti has established a ‘clear and credible path’ to extended, high-return growth with the identification of 6Moz in new ore reserves after the first 12 months of a multi-year investment program.
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START THE WEEK: COMMODITIES (Jun 18, 2021)

LME ($US), June 18 –
Aluminium 2,374.00
Copper 9,206.00
Zinc 2,873.00
Nickel 17,320.00
Lead 2,130.50
Tin 31,709.00
Cobalt 44,505.00
Gold 1,769.30
Silver 25.875

COMEX ($US), Jun 18 -
Gold 1,769.00
Silver 25.969
Copper 4.1635
Platinum 1,041.00
Palladium 2,469.90

LBMA price data ($US), pm Jun 18 –
Gold 1,773.100
Silver 26.385
Platinum 1,070.000
Palladium 2,551.000

NYMEX ($US) 62% Fe CFR China, market close Jun 18 –
Iron ore 214.21

START THE WEEK: CALENDAR (Jun 21, 2021)

Conferences -
Jun 21-22: Australia: WA Mining Conference (Perth)

START THE WEEK: COMMODITIES (Jun 11, 2021)

LME ($US), June 11 –
Aluminium 2,490.00
Copper 10,029.00
Zinc 3,011.00
Nickel 18,303.00
Lead 2,198.00
Tin 33,060.00
Cobalt 42,500.00
Gold 1,877.80
Silver 27.995

COMEX ($US), Jun 11 -
Gold 1,879.60
Silver 28.146
Copper 4.5375
Platinum 1,151.10
Palladium 2,780.80

LBMA price data ($US), pm Jun 11 –
Gold 1,881.050
Silver 28.140
Platinum 1,153.000
Palladium 2,787.000

NYMEX ($US) 62% Fe CFR China, market close Jun 11 –
Iron ore 213.13

START THE WEEK: CALENDAR (Jun 14, 2021)

Public holidays -
Jun 14: Australia Observing States (Queen's Birthday)
Jun 14: China (Dragon Boat Festival)
Jun 14: Colombia (Sacred Heart)
Jun 14: Russia (Russia Day Holiday)
Jun 15: Azerbaijan (Day of National Salvation)
Jun 16: South Africa (Youth Day)
Jun 17: Argentina (Commemoration of General Don Martin Miguel de Güemes)
Jun 17: Iceland (Republic Day)
Jun 18: Cambodia (King’s Mother’s Birthday)
Jun 19: Latvia (Working Day)
Jun 19: USA (Juneteenth)
Jun 20: Observing Countries (Fathers Day)

DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (Jun 13, 2021)

Keep track of how the global COVID-19 coronavirus pandemic is impacting the resource sector around the world.
(Note: Some articles will be accessible only by full subscribers.)

START THE WEEK: COMMODITIES (May 28, 2021)

LME ($US), May 28 –
Aluminium 2,404.50
Copper 10,159.50
Zinc 3,039.50
Nickel 17,811.00
Lead 2,208.00
Tin 33,456.00
Cobalt 43,615.00
Gold 1,902.50
Silver 27.900

COMEX ($US), May 28 -
Gold 1,905.30
Silver 28.014
Copper 4.6775
Platinum 1,182.40
Palladium 2,830.10

LBMA price data ($US), pm May 28 –
Gold 1,899.950
Silver 27.630
Platinum 1,170.000
Palladium 2,817.000

NYMEX ($US) 62% Fe CFR China, market close May 28 –
Iron ore 205.73

START THE WEEK: CALENDAR (May 31, 2021)

Conferences -
Jun 1-3: Minerals Week, Canberra (Australia)

START THE WEEK: COMMODITIES (May 21, 2021)

LME ($US), May 21 –
Aluminium 2,403.00
Copper 10,011.00
Zinc 2,981.00
Nickel 17,047.00
Lead 2,223.50
Tin 32,362.00
Cobalt 43,615.00
Gold 1,876.40
Silver 27.450

LBMA price data ($US), pm May 21 –
Gold 1,875.900
Silver 27.800
Platinum 1,198.000
Palladium 2,832.000

NYMEX ($US) 62% Fe CFR China, market close May 21 –
Iron ore 209.13

START THE WEEK: CALENDAR (May 24, 2021)

Public holidays -
May 24: Belize (Commonwealth Day)
May 24: Bulgaria (Culture and Literacy Day)
May 24: Canada Regions (Victoria Day/National Patriots Day)
May 25: Argentina (National Day/May 1810 Revolution)
May 25: Observing Countries (Africa Day)
May 25: Myanmar (Full Moon Day of Kasong)
May 26: Observing Countries (Buddha Purnima/Vesak)
May 26: Georgia (Independence Day)
May 26: Guyana (Independence Day)
May 26: Thailand (Visakha Bucha)
May 28: Armenia (Republic Day)
May 28: Azerbaijan (Republic Day)

DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (May 23, 2021)

Keep track of how the global COVID-19 coronavirus pandemic is impacting the resource sector around the world.
(Note: Some articles will be accessible only by full subscribers.)

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Mining Billboard

Insights and analysis from leading industry commentators

DEADLINE LOOMS ON BIG 3 CHALLENGE TO ADVANCE ELECTRIFIED MINE HAULAGE FLEETS

(ENVIRONMENTAL) Companies across all industry sectors willing to take up the challenge to overcome one of the major hurdles to the decarbonisation of mining fleets and tackling the climate challenge have been given an extra month to show how to overcome the significant loss of productivity caused by current stationary recharging systems.

FATALITY RATES BLIP REINFORCES CALL TO IMPROVE GLOBAL MINING SAFETY PERFORMANCE

(SAFETY) The global mining sector must do more to eliminate fatalities and achieve its goal of zero harm, the International Council of Mining and Metals has commented while releasing its 2020 Safety Performance report collating occupational deaths among the 28 major mining and metals companies that make up its corporate membership.

VISTA EXPANSION TARGET AS CANADA TIGHTENS THERMAL COAL APPROVALS POLICY

(ENVIRONMENT) The Canadian government has declared building new thermal coal mines for energy production is not sustainable, announcing a tightening of policy on approvals of new or expanded thermal coal mine projects “for the good of the planet’s health”.

SOUTH AFRICAN THERMAL COAL EXIT KEEPS ANGLO AMERICAN ON TARGET FOR CARBON NEUTRALITY

(ENVIRONMENTAL) Shareholders who voted for Anglo American’s exit from the South African thermal coal business to help meet its low carbon targets have emerged with 100% of the shares in new coal miner Thungela Resources.

CANADA RISKS BEING LEFT ON THE STARTING LINE IN GLOBAL SWING TO BATTERY ENERGY

(COMMENTARY) Canada has a once-in-a-generation opportunity to establish itself as a major player in the global battery industry, but it must act quickly if it was not to be left at the starting line, Clean Energy Canada has warned.

CANADA’S NEW MINING STANDARDS BACK IEA PUSH FOR DRASTIC CLIMATE MEASURES

(ENERGY) International Energy Agency outlines what it calls a narrow but viable pathway for global governments and mining sectors to meet climate change 2050 targets on humankind’s “greatest challenge” of combating climate change.
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Mining Brokers

START THE WEEK: COMMODITIES (Jun 18, 2021)

    START THE WEEK: CALENDAR (Jun 21, 2021)

      START THE WEEK: COMMODITIES (Jun 11, 2021)

        START THE WEEK: CALENDAR (Jun 14, 2021)

          DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (Jun 13, 2021)

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