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Mining Bulletin

The full story: In-depth news and analysis

RIO TINTO CUTS FY IRON ORE FORECASTS AFTER COVID IMPACTS SLOW MINE DEVELOPMENTS

The impact of COVID-19 counter-measures on labour recruitment and retention in the Australian mining sector has slowed completion of global miner Rio Tinto’s Gudai-Darri iron ore mine development and forced a cut in its FY2021 export forecasts.

STRONG PANDEMIC RECOVERY BOOSTS LUCAPA CY2021 PROFIT MARGIN FORECAST

The unexpected strength of the recovery in rough diamond prices from the COVID-19 pandemic disruptions has enabled international miner Lucapa to boost its already-ambitious profit forecasts for the calendar year.

TIETTO MINERALS DFS POINTS TO LATE 2022 PRODUCTION START AT ABUJAR GOLD PROJECT

Definitive feasibility study supports Tietto Minerals’ expectations for the Abujar gold project to be one of the Cote d’Ivoire’s largest producing gold mines.

FIREFINCH TIPS ‘IMMINENT’ APPROVAL OF GANFENG JV PLAN FOR WEST AFRICAN LITHIUM MINE

Mali government backs plans for Firefinch -Ganfeng joint venture to progress West Africa’s first large-scale hard rock lithium mine in the face of growing terrorist attacks.

NEW GRUYERE PLANT FAILURE DELIVERS HARD CHEESE FOR GOLD FIELDS AND GOLD ROAD

The Gruyere gold mine, originally billed by JV owners Gold Fields and Gold Road Resources as one of Australia’s largest and lowest-cost producers, is travelling well short of its full year guidance after the latest in a series of mechanical failures.

BASE RESOURCES NEW STUDY OUTLINES ENHANCED SCALE AND ECONOMICS FOR TOLIARA

African mineral sands producer and developer Base Resources has outlined substantial improvements in forecast production and financial returns in an enhanced definitive feasibility study for its 100%-owned Toliara project in Madagascar.

SANDFIRE RESOURCES AGREES AMBITIOUS DEAL TO ACQUIRE SPANISH COPPER COMPLEX

Sandfire Resources is targeting a quick transformation into one of Australia’s largest copper focused producers and a leading diversified global base metals producer with an ambitious $1.85B deal to acquire the large MATSA mining complex in Spain.

HIGH-FLYER FINLAYSON KEY TO GENESIS MINERALS' FUNDING, EXECUTIVE RESTRUCTURE

One of the Australian mining sector’s highest flyers, Raleigh Finlayson, has put his experience and expertise plus $7M funding behind a funding and restructuring plan aimed at building Genesis Minerals into a mid-tier gold company. John Feary reports

NICKEL MINER DOWNPLAYS FEARS OF INDONESIA IMPOSING NEW TAX ON LOW-GRADE EXPORTS

Australian-based nickel miner and processor Nickel Mines dismisses Indonesian minister’s claims of potential export tax on low-grade nickel pig iron and ferronickel exports.

FALLING PRICES AND RISING DISCOUNTS HALT VENTURE MINE AFTER FIRST SHIPMENT

New producer Venture Minerals suspends its Riley iron ore mine in Australia after just one export shipment due to the plunge in global iron ore prices.

GRAPHITE SPECIALIST TIRUPATI IN $12.5M DEAL TO BUY MOZAMBIQUE PROJECTS

UK-based integrated graphite value chain producer Tirupati will double the size of its portfolio in Mozambique with $12.5M agreement to acquire the Montepuez and Balama Central graphite flake projects from current owner Battery Minerals.

NEW CORONADO CURRAGH MINE TERM WORTH $1B-PLUS TO GOLDING CONTRACTORS

International coal miner Coronado Global Resources has signed a letter of intent with Golding Contractors for a five-year amendment of its mining services contract, with an anticipated value of up to $A1.4B at its Curragh mine in Queensland, Australia.

SCONI DEVELOPER AUSTRALIAN MINES SIGNS ‘MILESTONE’ OFFTAKE WITH BATTERY MAKER LGES

Australian Mines is aiming for June 2022 to finalise a funding agreement for its proposed $US1.5B development of the world-class Sconi mine in northern Queensland after signing a memorandum of understanding with world-leading EV batteries manufacturer LG Energy Solution covering 100% of its battery-grade nickel and cobalt.

NEWCREST GREENLIGHTS $246M TELFER MINE LIFE EXTENSION PROJECT TO AID HAVIERON TRANSITION

Newcrest Mining aims to smooth the transition to the Havieron mine, the first of its prospective developments in Western Australia’s Paterson province, with approval of an additional $246M mine cutback to maintain the continuity of operations at its Telfer plant.

LOCAL CONTRACTORS MAY GAIN FROM COVID COSTS REVIEW OF MOUNT PEAKE PROJECT

Commercial and logistical challenges caused by the global COVID-19 pandemic force a rethink by Australian project developer TNG and its proposed German EPC contractor SMS Group on the development strategy for the Mount Peake project in the NT.

DIGGERS HIGHLIGHT ‘CLEANER PLANET’ OPPORTUNITIES IN SWING TO BATTERY METALS

Miner credits the COVID-19 “pause button” for allowing the world to recognise the need to deliver cleaner solutions for future generations. John Feary reports

TVI DEAL WITH RED 5 SEIZES NEW OPPORTUNITY IN A LESS HOSTILE PHILIPPINES ENVIRONMENT

Philippines miner TVI Resource Development is moving to take advantage of a perceived easing of the Duterte regime’s opposition to the mining sector with its $54M agreement to acquire the Siana gold mine shut down because of government intransigence over four years ago.

RIO TINTO COMMITS $2.4B TO JADAR PROJECT AS GLOBAL BATTERY MINERAL SUPPLIER

Seventeen years after its geologists made the first discovery of the unique mineral jadarite in western Serbia, Rio Tinto has committed to invest $2.4B on becoming a top 10 global supplier of lithium carbonate to the booming EV and energy storage industries.

RIO TINTO FORCE MAJEURE AS SECURITY BREACHES HALT SOUTH AFRICAN MINERAL SANDS MINE

South Africa’s largest mineral sands producer is halted for the second time in less than two years because of rising levels of violent opposition from local community groups.

$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.
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START THE WEEK: COMMODITIES (Sep 17, 2021)

LME ($US) 3-month closing prices, Sep 17 –
Copper 9,267.00
Aluminium 2,886.15
Zinc 3,066.50
Nickel 19,355.00
Lead 2,187.50
Tin 34,240.00

LME ($US) spot closing prices, Sep 17 –
Gold 1,751.20
Silver 22.41

NASDAQ ($US) closing prices, Sep 17 –
Gold 1,751.40
Silver 22.337
Copper 4.246
Platinum 930.60
Palladium 1,983.80

NYMEX ($US) 62% Fe CFR China, market close Sep 17 –
Iron ore 123.00

START THE WEEK: CALENDAR (Sep 20, 2021)

Public holidays -
Sep 20: Bangladesh (Madhu Purnima)
Sep 20: Japan (Respect for the Aged Day)
Sep 20-21: China (Mid-Autumn Festival Holiday)
Sep 21: Armenia (Independence Day)
Sep 21: Ghana (Kwame Nkrumah Memorial Day)
Sep 21: North Korea (Chuseok Harvest Festival)
Sep 22: Bulgaria (Independence Day)
Sep 22: Mali (Independence Day)
Sep 23: Japan (Autumn Equinox)
Sep 23: Saudi Arabia (National Day)
Sep 24: Cambodia (Constitution Day)
Sep 24: Dominican Republic (Our Lady of Las Mercedes)

DATADIGGING: TRACKING COVID-19’S IMPACT ON THE GLOBAL RESOURCES SECTOR (September 19, 2021)

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

START THE WEEK: COMMODITIES (September 10, 2021)

LME ($US) 3-month closing prices, Sep 10 –
Aluminium 2,924.00
Copper 9,694.50
Zinc 3,119.00
Nickel 20,392.00
Lead 2,318.00
Tin 33,583.00

LME ($US) closing prices, Sep 10 –
Gold 1,791.00
Silver 23.86

COMEX ($US), Sep 10 -
Gold 1,792.10
Silver 23.90
Copper 4.452
Platinum 956.50
Palladium 2,126.30

LBMA price data ($US), pm Sep 10 –
Gold 1,794.600
Silver 24.025
Platinum 997.000 (Sep 8)
Palladium 2,347.000

START THE WEEK: CALENDAR (September 13, 2021)

Conferences -
Sep 13-15: MINExpo International, Las Vegas (USA)

DATADIGGING: TRACKING COVID-19’S IMPACT ON THE GLOBAL RESOURCES SECTOR (September 12, 2021)

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

START THE WEEK: COMMODITIES (Sep 3, 2021)

LME ($US), Sep 3 –
Aluminium 2,696.00
Copper 9,361.00
Zinc 2,984.50
Nickel 19,494.00
Lead 2,383.00
Tin 33,540.00
Cobalt 50,500.00
Gold 1,831.30
Silver 24.710

COMEX ($US), Sep 3 -
Gold 1,833.70
Silver 24.802
Copper 4.334

LBMA price data ($US), pm Sep 3 –
Gold 1,823.700
Silver 24.055
Platinum 1,006.000
Palladium 2,407.000

NYMEX ($US) 62% Fe CFR China, market close Sep 3 –
Iron ore 144.83

START THE WEEK: CALENDAR (Sep 6, 2021)

Conferences -
New World Metals Conference, Perth (Australia)

START THE WEEK: COMMODITIES (Aug 27, 2021)

LME ($US), Aug 27 –
Aluminium 2,673.50
Copper 9,352.00
Zinc 2,983.50
Nickel 18,914.00
Lead 2,459.50
Tin 34,452.00
Cobalt 50,110.00
Gold 1,816.90
Silver 24.025

COMEX ($US), Aug 27 -
Gold 1,819.50
Silver 24.11
Copper 4.332
Platinum 1,006.50
Palladium 2,408.10

LBMA price data ($US), pm Aug 27 –
Gold 1,798.500
Silver 23.610
Platinum 991.000
Palladium 2,421.000

NYMEX ($US) 62% Fe CFR China, market close Aug 27 –
Iron ore 159.68

START THE WEEK: CALENDAR (Aug 30, 2021)

Public holidays -
Aug 30: Croatia (Remembrance of Missing Persons in the Homeland War)
Aug 30: India (Janmashtami)
Aug 30: Kazakhstan (Constitution Day)
Aug 30: Kyrgyzstan (Day Off for Victory Day)
Aug 30: Moldova (Public Holiday)
Aug 30: Peru (Santa Rosa de Lima)
Aug 30: Philippines (National Heroes Day)
Aug 30: Turkey (Victory Day)
Aug 30: UK (Summer Bank Holiday)
Aug 30-31: Myanmar (Public Holiday)
Aug 31: Kyrgyzstan (Independence Day)
Aug 31: Malaysia (National Day)
Aug 31: Moldova (Language Day)

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Mining Billboard

Insights and analysis from leading industry commentators

IEA WARNS NET ZERO EMISSIONS TARGET UNACHIEVABLE WITHOUT SIGNIFICANT CHANGE

(ENVIRONMENTAL) A new International Energy Agency report published as a handbook for the coming United Nations interim climate change conference in Glasgow warns that the current growth in the emerging new energy economy is not yet enough to reach the net zero emissions target that is being adopted by governments and key industry leaders around the world.

GLOBAL MINING LEADERS BACK DRIVE TO MEET UN CLIMATE GREENHOUSE EMISSIONS TARGET

(ENVIRONMENTAL) The chief executives of the world’s leading mining companies and their representative bodies have given their unanimous commitment to meeting the UN’s target of achieving net zero greenhouse gas emissions by 2050.

AUSTRALIA’S MINERS REAFFIRM COMMITMENT TO NET ZERO EMISSIONS AHEAD OF COP26

(ENVIRONMENTAL) While the Australian government is still making up its mind over climate change policies, the nation’s mining sector is reinforcing its commitment and stepping up its practical implementation to achieving the Paris Agreement’s target of net zero greenhouse gas emissions by 2050.

INTERNATIONAL PRESSURE TO MAKE COAL ‘HISTORY’ GROWS AHEAD OF UN CLIMATE CONFERENCE

More countries sign up to growing international campaign to halt the development of new coal-fired power plants and the phase out of existing installations in readiness for the COP26 United Nations Climate Change Conference in Glasgow in October-November.

FORTESCUE PROMOTES COLLABORATIVE ROLE FOR NATIVE TITLE GROUPS IN MINE DEVELOPMENTS

(ENVIRONMENTAL, SOCIAL, GOVERNANCE) Australian mining entrepreneur and philanthropist Andrew Forrest promises a new shared direction for iron ore major Fortescue Mining Group’s operations and future developments in the WA Pilbara region with the establish of a “culturally safe” management framework.

WORLD GOLD LEADERS COMMIT TO STRONGER CLIMATE CHANGE REPORTING

(ENVIRONMENTAL) The pressure by global investors for a clear understanding of how their investments are being made climate-resilient in the face of climate challenges have prompted the 33 leading global gold miners who make up membership of the World Gold Council to commit themselves to the next stage of embedding climate change into their governance, strategy and risk management.
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Mining Brokers

START THE WEEK: COMMODITIES (Oct 15, 2021)

    START THE WEEK: CALENDAR (Oct 18, 2021)

      DATADIGGING: TRACKING COVID-19’S IMPACT ON THE GLOBAL RESOURCES SECTOR (October 17, 2021)

        START THE WEEK: COMMODITIES (Oct 8, 2021)

          START THE WEEK: CALENDAR (Oct 11, 2021)

            more