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The full story: In-depth news and analysis

RED LAKE RESOURCE UPGRADE PUSHES EVOLUTION TOWARDS 3-YEAR GROWTH FORECASTS

Aspiring Australian-based global mid-tier gold miner Evolution Mining is using its own underground mining experience and other operations to “recover” previously disregarded resources at its recently acquired Red Lake gold mine in Canada.

NORTHERN STAR FLAGS 2-YEARS OF HIGHER GOLD PRODN, LOWER COSTS

Northern Star’s Australian operations resources up 3.2Moz to 22.3Moz, reserves up 12% to 6Moz

FAIR VALUE CHANGES PUSH EXPANSIVE EQUINOX TO A Q2 20 $59M LOSS

The recently expansive Equinox has been hit with $86.4M worth of fair value changes resulting in a Q2 20 $58.7M loss from a $10.9M profit

CHINESE STEELMAKER TO BACK SHEFFIELD RESOURCES’ THUNDERBIRD MINERAL SANDS PROJECT

Australian sentiment on Chinese foreign investment to be tested by Chinese private company Tangshan’s application for approval to take $130M stake in high-grade West Australian zircon and ilmenite project.

COVID-19 CUTS BARRICK Q2 20 PROFIT $43M TO $375M

The impact of Covid-19, Porgera’s move to C&M and other major maintenance operations have pushed Barrick Gold’s Q2 20 profit down $43M to $357M

HIGHER GOLD PRICES OUTWEIGH COVID IMPACTS IN STRONG FIRST HALF FOR ANGLOGOLD

The surge in gold prices has helped global miner AngloGold Ashanti finish a turbulent June half-year by increasing adjusted EBITDA by 59% year-on-year to $US1.16B and free cash-flow by 671% to $177M from a $31M outflow in the corresponding period.

A SEMAFO ASSIMILATING ENDEAVOUR FALLS FROM PROFIT TO $37M Q2 20 LOSS

Endeavour Mining $63M turnaround to a $37M Q2 20 loss as it assimilates its recent acquisition of SEMAFO. Watch this space

ELDORADO GOLD $50.5M TURNAROUND TO $45.6M Q2 20 PROFIT

Eldorado Gold has emerged from its COVID-19 precautions with a June 2020 qtr $45.6M profit from the previous qtr’s $5M loss

BLUEBIRD PLAN TO BUY RELUCTANT PARTNER SOUTHERN GOLD’S KOREAN MINES JV STAKE

Mine resuscitation specialist Bluebird Merchant Ventures presses for an opportunity to take out JV partner Southern Gold’s stake in Gubong and Kochang gold mines in South Korea.

CENTERRA GOLD: BIG Q2 20 WITH PROFIT QUADRUPLED TO $81M

Increased Q2 20 gold production from all 3 operations has lifted net profit to $80.7M from the previous qtr’s $20M.

CAPSTONE MINING $26.2M TURNAROUND TO Q2 20 $4.3M PROFIT

Capstone Mining has shuffled off some minor COVID-19 limitations to jump to a Q2 20 $4.3M profit from the previous qtr’s $22M loss

NEWMONT Q2 20 PROFIT HALVED TO $412M

The ramifications of the global COVID-19 pandemic has cut gold major Newmont’s Q2 20 net income in half on increased costs and lower production

KINROSS Q2 20 PRODN/PROFIT UP, COSTS DOWN

A COVID-19 unscathed Kinross Gold has lifted its Q2 20 profit to $195.7M on the back of its 3 biggest and lowest costs mines

LUNDIN DUCKS COVID-19 BULLET FOR Q2 20 $39M PROFIT

Lundin Mining is forging ahead, with minimal problems from COVID-19 and turning a Q1 20 $111.5 loss into a Q2 20 $38.7M profit

COVID19 BLOWS FIRST QUANTUM Q2 20 LOSS OUT TO $156M

FYCY 20 copper-gold-nickel expectations have been cut again following lower Q2 20 production and an increased loss in the wake of the COVID19 pandemic

FORTESCUE IMPROVES PRODUCTION AND COSTS PERFORMANCE AMID COVID CHALLENGES

Australian iron ore major Fortescue says strong Chinese demand and the success of its integrated production and marketing strategy will sustain its Pilbara operations after its record performance in FY20. John Feary reports

ALAMOS Q2 20 TURNAROUND $11.7M PROFIT ON LOWER GOLD

Despite a horror Q2 20 with COVID-19 hit gold production down, costs up and FY/CY20 guidance cut, Alamos Gold has managed a $24M turnaround to $11.7M profit. By MBM’s North American correspondent

CHAMPION IRON Q1 21 RECORD PROFIT ON LOWER PRODN

Canada-focused Aussie Champion Iron has avoided the sharp edged of the COVID-19 pandemic to post record quadrupled Q1 21 net income up to $75.6M

RIO TINTO EYES DEVELOPMENT OPTIONS AT WINU AND ITS PATERSON PROVINCE NEIGHBOURS

Global miner Rio Tinto’s posting of a maiden Winu resource and its new discovery nearby justify the growing excitement over the potential of the Paterson province in the Pilbara region of Western Australia.

RECORD JUNE QUARTER HIGHLIGHTS OUTSTANDING FIRST YEAR FOR WA’S GRUYERE GOLD MINE

Partners Gold Fields and Gold Road celebrate an ‘outstanding achievement’ in the first year of production as their Gruyere gold mine in Western Australia’s North-Eastern Goldfields achieves record June quarter production.
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DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (July 19, 2020)

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

START THE WEEK: COMMODITIES (July 10, 2020)

LME ($US), Jul 10 –
Aluminium 1,639.50
Copper 6,322.50
Zinc 2,145.50
Nickel 13,070.00
Lead 1,842.00
Tin 17,080.00
Cobalt 28,500.00
Gold 1,800.30
Silver 18.665

COMEX ($US), Jul 10 –
Gold 1,801.90
Silver 19.053
Copper 2.8975
Platinum 845.90
Palladium 1,994.40

LBMA price data ($US), pm Jul 10 –
Gold 1,893.10
Silver 18.77000
Platinum 835.00
Palladium 1,944.00

NYMEX ($US) 62% Fe CFR China, Jul 10 –
Iron ore 105.59

START THE WEEK: CALENDAR (July 13, 2020)

Public holidays –
Jul 13: Battle of the Boyne Observed (N Ireland)
Jul 13-15: Naadam National Day Holiday (Mongolia)
Jul 14: Bastille Day (France, Martinique)
Jul 14: French National Day (French Territories)
Jul 14: Republic Day (Iraq)
Jul 15: Sultan’s Birthday (Brunei)
Jul 15: Unimwane Day (Kiribati)
Jul 15: Democracy and National Unity Day (Turkey)
Jul 15: Unaine Day (Kiribati)
Jul 16: King’s Birthday (Lesotho)
Jul 18: Nelson Mandela Day (South Africa)
Jul 18: Constitution Day (Uruguay)

START THE WEEK: COMMODITIES (July 3, 2020)

LME ($US), Jul 3 –
Aluminium 1,581.50
Copper 6,022.50
Zinc 2,020.00
Nickel 13,040.00
Lead 1,756.00
Tin 16,960.00
Cobalt 28,500.00
Gold 1,774.30
Silver 18.010

COMEX ($US), Jul 3 –
Gold 1,790.00
Silver 18.322
Copper 2.7485
Platinum 831.60
Palladium 1,927.60

LBMA price data ($US), pm Jul 3 –
Gold 1,772.90
Silver 18.02000
Platinum 808.00
Palladium 1,905.00

NYMEX ($US) 62% Fe CFR China, Jul 2 –
Iron ore 98.94

START THE WEEK: CALENDAR (July 6, 2020)

Public holidays –
Jul 6: Jan Hus Day (Czechia)
Jul 6: Caricom Day (Guyana)
Jul 6: Day of the Capital (Kazakhstan)
Jul 6: King Mindaugas’ Coronation Day (Lithuania)
Jul 6: Independence Day (Malawi)
Jul 6: Liberation Day Observed (Rwanda)
Jul 6: Heroes Day (Zambia)
Jul 6-7: Kupalle (Belarus)
Jul 7: Independence Day (Solomon Id)
Jul 7: Saba Saba (Tanzania)
Jul 7: July 7 Anniversary (Yemen)
Jul 7: Unity Day (Zambia)
Jul 8: Family Day (Ukraine)
Jul 9: Independence Day (Argentina)

START THE WEEK: COMMODITIES (June 26, 2020)

LME ($US), Jun 26 –
Aluminium 1,582.00
Copper 5,985.50
Zinc 2,057.00
Nickel 12,709.00
Lead 1,778.00
Tin 16,990.00
Cobalt 28,500.00
Gold 1,765.30
Silver 17.810

COMEX ($US), Jun 26 –
Gold 1,780.30
Silver 18.168
Copper 2.679
Platinum 819.30
Palladium 1,894.40

LBMA price data ($US), pm Jun 26 –
Gold 1,747.60
Silver 17.83000
Platinum 799.00
Palladium 1,847.00

NYMEX ($US) 62% Fe CFR China, Jun 26 –
Iron ore 103.23

START THE WEEK: CALENDAR (June 29, 2020)

Company events –
Jun 30: Ramelius Resources Life of Mine Plan, Perth (Australia)

START THE WEEK: COMMODITIES (June 19, 2020)

LME ($US), Jun 19 –
Aluminium 1,578.00
Copper 5,835.50
Zinc 2,073.00
Nickel 12,855.00
Lead 1,777.50
Tin 16,858.00
Cobalt 28,850.00
Gold 1,739.20
Silver 17.615

COMEX ($US), Jun 19 –
Gold 1,753.00
Silver 18.022
Copper 2.628
Platinum 830.30
Palladium 1,908.40

LBMA price data ($US), pm Jun 19 –
Gold 1,734.75
Silver 17.52500
Platinum 820.00
Palladium 1,888.00

NYMEX ($US) 62% Fe CFR China, Jun 19 –
Iron ore 103.04

START THE WEEK: CALENDAR (June 22, 2020)

Public holidays –
Jun 22: Great Patriotic Way (WW2) Remembrance (Belarus)
Jun 22: Aymara New Year Day Holiday (Bolivia)
Jun 22: Antifascist Struggle Day (Croatia)
Jun 22: Teachers’ Day (El Salvador)
Jun 22: Midsummer Day Holiday (Latvia)
Jun 23: Victory Day (Estonia)
Jun 23: Rath Yatra (India)
Jun 23: Midsummer Eve (Latvia)
Jun 23: National Day (Luxembourg)
Jun 23: Statehood Day (Moldova)
Jun 23: Fathers’ Day (Poland)
Jun 24: Midsummer Day (Estonia, Latvia)
Jun 24: Farmer Day/Inti Raymi Day (Peru)

START THE WEEK: COMMODITIES(Jun 12, 2020)

LME ($US), Jun 12 –
Aluminium 1,560.00
Copper 5,785.50
Zinc 1,991.00
Nickel 12,733.00
Lead 1,739.50
Tin 17,200.00
Cobalt 29,500.00
Gold 1,730.20
Silver 17.460

COMEX ($US), Jun 12 –
Gold 1,737.30
Silver 17.482
Copper 2.6185
Platinum 819.00
Palladium 1,938.50

LBMA price data ($US), pm Jun 12 –
Gold 1,733.50
Silver 17.62500
Platinum 822.00
Palladium 1,935.00

NYMEX ($US) 62% Fe CFR China, Jun 12 –
Iron ore 103.59

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Mining Billboard

Insights and analysis from leading industry commentators

ICMM CHALLENGES ALL MINERS TO ADOPT GLOBAL TAILINGS STANDARD TO PREVENT MORE DISASTERS

(SAFETY) A global independent body will be established to monitor the world-wide adoption by mining companies of a new standard designed to prevent any future repetitions of the tragic tailings dam collapses at the Samarco and Brumadinho operations in Brazil.

WORLD GOLD COUNCIL SEES EXTENDED UPTURN FOR GOLD INVESTMENT AMID COVID’S PERFECT STORM

(CORONAVIRUS) The severe disruptions of COVID-19 have delivered a brutal hit to consumer markets for gold, but the combination of historic liquidity injections and record low interest rates have reinforced the safe haven of gold investment for the foreseeable future.

RESULTS INDICATE COVID RESPONSE SPEED AND EFFECTIVENESS THE KEY TO MINING PERFORMANCE

(CORONAVIRUS) The current round of mining quarterly, half-yearly or full-yearly reports are providing more evidence that the companies achieving the strongest performance under the global COVID-19 pandemic are those that have responded most quickly with measures to safeguard and support workers and host communities.

BOOK ARGUES CLIMATE PANIC BLINDS HUMANITY TO REAL GLOBAL WARMING SOLUTIONS

(COMMENTARY) Bjorn Lomborg agrees mankind must solve climate change, a solution that must inevitably include massive investment, but from there his views diverge violently from those of global warming activists. He argues drastic cures such as abandoning fossil fuels will be worse than the disease, increasing poverty without effective outcome.

RIO TINTO PLEDGES MORE CARE FOR ABORIGINAL COMMUNITIES AFTER PILBARA CAVES BLAST

(HERITAGE) A parliamentary inquiry into the destruction by Rio Tinto of Aboriginal sacred sites containing 46,000-year-old artefacts for an iron ore mine expansion has been urged to explore the lack of action by the Australian government to prevent or delay the blasting.

MINERS FACE A LONG BATTLE TO OVERCOME THE GLOBAL CHALLENGES OF THE COVID-19 PANDEMIC

(CORONAVIRUS) Production reports outline the still-growing impact of the coronavirus on mining companies across the globe.
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Mining Brokers

START THE WEEK: COMMODITIES (Aug 7, 2020)

    START THE WEEK: CALENDAR (Aug 10, 2020)

      DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (Aug 9, 2020)

        START THE WEEK: COMMODITIES (July 31, 2020)

          START THE WEEK: CALENDAR (Aug 3, 2020)

            more