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Mining Bulletin

The full story: In-depth news and analysis

NEW CENTURY MULLS TOP 10 GLOBAL FUTURE FOR STRUGGLING PACIFIC PROJECT

New Century Resources eyes the potential to transform Vale’s faltering Goro nickel project in New Caledonia into a long-term world-scale producer after being granted 60-day exclusivity to negotiate the acquisition of a 95% stake.

WESTERN AREAS' $28M PANORAMIC DEAL OPENS DOORS TO NEW ENERGY VEHICLES GROWTH

Western Areas sees its new strategic shareholding and partnership with Panoramic Resources as it works towards the reopening of the Savannah nickel project increasing its exposure to the emerging new energy vehicles global market. John Feary reports

$84M IMPAIRMENT, COVID-19 CLOSURES HAMMER MCEWEN BOTTOM LINE

McEwen Mining’s Q1 20 loss has blown out to $99.2M, hit by an $84M impairment and 3 COVID-19 mine shutdowns

ELEMENT 25 EYES EARLY START ON LOW-COST DEVELOPMENT STRATEGY FOR BUTCHERBIRD

Element 25 has confirmed the potential for its Butcherbird project to be Australia’s next significant manganese mine with a PFS identifying the opportunity for a low-cost, long-life development that will deliver first concentrate much earlier than previously anticipated. John Feary reports.

HUDBAY Q1 20 HIT BY LOWER PRICES, HIGHER COSTS AND MAJOR MINE SUSPENSION

A range of issues across its Americas base/precious metals operations has seen Hudbay Minerals Q1 20 loss blow out to $76M

TAKEOVER TARGET SEMAFO KICKS OFF 2020 WITH DOUBLED Q1 20 PROFIT

SEMAFO has overcome the COVID-19 virus bite to double Q1 20 profit on increased gold production from its Burkina Faso operations

SSR LAUNCHES $1.72B ALL-SHARE BID FOR ALACER GOLD

SSR Mining $1.72B bid for Alacer gold to create $4B market cap, 780,000oz AuEq pa producer

Gt PANTHER MINING Q1 20 LOSS UP ON PRODN FROM ALL 3 MINES DOWN

All 3 of Great Panther Mining’s operations have posted Q1 20 output losses, taking its net loss out to $40.5M

NEW 740,000oz UNDERGROUND DISCOVERY AT EQUINOX’ AURIZONA

Equinox Gold has found an additional 740,000oz underground gold resource at its Aurizona open pit capable of generating an extra $1B revenue over a 10-year LoM

A DOUBLED Q1 20 LOSS SEES HECLA CUT FY/CY20 GUIDANCE

Hecla Mining’s Q1 20 loss blowout to $17.2M on lower production of all its commodities sees FY/CY20 gold/silver expectations cut

BARRICK GOLD EXPECTS Q1 20 GOLD-COPPER SLIDE TO CONTINUE THROUGH FY20

Q1 20 gold-copper production falls have prompted Barrick Gold to cut its FY/CY20 gold expectations by 200,000oz

COVID RUCTIONS FORCE SIGNIFICANT CUTBACKS AT TERRACOM’S BLAIR ATHOL THERMAL COAL MINE

TerraCom is taking “decisive action” to reduce operations and unit costs at its Blair Athol thermal coal mine in Queensland, Australia to cope with the market volatility resulting from the global COVID-19 pandemic.

COVID-19 BITES TAIL END OF IAMGOLD’S Q1 20, CUTTING OUTPUT BY 22,000oz

IAMGOLD has cut its Q1 20 loss back to $34.4M from $303.8M, despite reduced gold production and resultant revenues

CHINESE LITHIUM GIANT YIBIN TIANYI OFFERS NEW $10.7M BACKING FOR AVZ’S DRC PROJECT

After a previous deal failed the Australian foreign investment hurdle, AVZ Minerals has attracted a new $10.6M equity investment from prospective Chinese lithium chemical producer Yibin Tianyi for its flagship Manono lithium-tin project.

CENTERRA BACK FROM FY/CY19 LOSS WITH $20M Q1 20 PROFIT

Despite easing gold production, increased copper output has seen Centerra Gold post a $30M turnaround to Q1 20 $20M profit

ALAMOS $50M TURNAROUND TO Q1 20 $12.3M LOSS

Mulatos and Island Gold shine, despite Alamos’ Q1 20 production slide and turnaround from profit to $12.3M loss

BIG LUNDIN Q1 20 LOSS PROMPTS FY2020 PRODN GUIDANCE CUTS

Diversified global miner Lundin Mining has cut FY2020 guidance after big Q1 20 swing from profit to $111.5M loss

TASEKO MINES Q1 20 LOSS BLOWOUT TO $49M, PRODN DOWN

Taseko Mines’ Q1 20 loss increased by $40M to $49M with moly output nearly halved, but copper less badly affected

FIRST QUANTUM CUTS Q1 20 LOSS, DESPITE LOWER PRODUCTION

Despite lower COVID-19 affected copper-gold output, First Quantum has cut its Q1 20 net loss by $53M to $62M

ST BARBARA Q3 20 OUTPUT DOWN TO 91,550oz ON HIGHER COSTS

2 of St Barbara’s 3 mines have posted production losses in Q3 20, with costs up, the exception being Simberi in PNG with higher output and lower costs
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Mining Brokers

START THE WEEK: CALENDAR (Jan 27, 2020)

Companies –
Jan 29: Evolution Mining 1/4, Sydney (Australia)
Jan 30: Fortescue Metals HY, Perth (Australia)
Jan 31: Caterpillar FY, Deerfield (USA)

START THE WEEK: CALENDAR (Jan 20, 2020)

Public holidays –
Jan 20: Martyrs’ Day (Azerbaijan)
Jan 20: Martin Luther King Day (USA)
Jan 21: Errol Barrow Day (Barbados)
Jan 21: Princess Ingrid Alexandra's Day (Norway)
Jan 22: Plurinational State Foundation Day (Bolivia)
Jan 22: Unity Day (Ukraine)
Jan 24: Spring Festival Eve (China)
Jan 24: Unification Day (Romania)
Jan 24: Seollal Holiday (S Korea)
Jan 25: Lunar New Year
Jan 25: Revolution Day (Egypt)
Jan 25: Seollal (S Korea)
Jan 26: Australia Day (Australia)
Jan 26: Republic Day (India)

START THE WEEK: COMMODITIES (Jan 17, 2020)

LME ($US), Jan 17 –
Aluminium 1,796.00
Copper 6,276.50
Zinc 2,434.00
Nickel 13,840.00
Lead 1,977.00
Tin 17,775.00
Cobalt 32,000.00
Gold 1,559.90
Silver 18.055

COMEX ($US), Jan 17 –
Gold 1,557.30
Silver 18.04
Copper 2.846
Platinum 1,027.2
Palladium 2,250.4

LBMA price data ($US), pm Jan 17 –
Gold 1,557.60
Silver 18.06000
Platinum 1,016.00
Palladium 2,465.00

NYMEX ($US) 62% Fe CFR China, Jan 17 -
Iron ore 94.81

START THE WEEK: COMMODITIES (Jan 10, 2020)

LME ($US), Jan 10 –
Aluminium 1,771.50
Copper 6,157.00
Zinc 2,382.00
Nickel 14,050.00
Lead 1,922.00
Tin 17,275.00
Cobalt 32,500.00
Gold 1,558.70
Silver 18.080

COMEX ($US), Jan 10 –
Gold 1,563,20
Silver 18.13
Copper 2.81
Platinum 983.9
Palladium 2,073.6

LBMA price data ($US), pm Jan 10 –
Gold 1,553.60
Silver 17.91500
Platinum 969.00
Palladium 2,110.00

NYMEX ($US) 62% Fe CFR China, Jan 10 -
Iron ore 93.56

START THE WEEK: CALENDAR (Jan 13, 2020)

Public holidays –
Jan 13: Coming of Age Day (Japan)
Jan 13: Constitution Day (Mongolia)
Jan 14: Lohri (India)
Jan 14: Revolution and Youth Day (Tunisia)
Jan 14: Defenders of the Motherland Day (Uzbekistan)
Jan 14: Orthodox New Year
Jan 15: John Chilembwe Day (Malawi)
Jan 16: Anniversary of President Laurent Kabila’s Assassination (DR Congo)
Jan 17: Anniversary of Prime Minister Patrice Emery Lumumba’s Assassination (DR Congo)

START THE WEEK: COMMODITIES (Jan 3, 2020)

LME ($US), Jan 3 –
Aluminium 1,758.00
Copper 6,077.00
Zinc 2,284.00
Nickel 13,740.00
Lead 1,889.50
Tin 16,750.00
Cobalt 32,000.00
Gold 1,549.70
Silver 18.100

COMEX ($US), Jan 3 –
Gold 1,555,20
Silver 18.095
Copper 2.7805
Platinum 988.50
Palladium 1,957.50

LBMA price data ($US), pm Jan 3 –
Gold 1,548.75
Silver 18.21000
Platinum 983.00
Palladium 1,977.00

NYMEX ($US) 62% Fe CFR China, Jan 3 -
Iron ore 93.41

START THE WEEK: CALENDAR (Jan 6, 2020)

Public holidays –
Jan 6: Army Day (Iraq)
Jan 6: Three Wise Men Day (Peru)
Jan 6-8: New Year Holiday Week (Russia)
Jan 7: Orthodox/Coptic Christmas
Jan 7: Victory over Genocide Day (Cambodia)
Jan 7: Constitution Day (Ghana)
Jan 7: Pioneers Day (Liberia)
Jan 9: Martyr’s Day (Panama)
Jan 9: Peace Agreement Day (South Sudan)
Jan 10: Duruthu Full Moon Poya Day (Sri Lanka)
Jan 11: Anniversary of the Independence Manifesto (Morocco)
Jan 11: Eugenio María de Hostos Birthday (Puerto Rico)

START THE WEEK: COMMODITIES (Dec 27, 2019)

LME ($US), Dec 27 –
Aluminium 1,789.00
Copper 6,211.00
Zinc 2,296.00
Nickel 14,000.00
Lead 1,910.00
Tin 17,100.00
Cobalt 32,500.00
Gold 1,513.30
Silver 17.870

COMEX ($US), Dec 27 –
Gold 1,515.60
Silver 17.83
Copper 2.8245
Platinum 953.10
Palladium 1,875.40

LBMA price data ($US), pm Dec 27 –
Gold 1,511.50
Silver 17.82500
Platinum 916.00
Palladium 1,853.00

NYMEX ($US) 62% Fe CFR China, Dec 27 -
Iron ore 91.55

START THE WEEK: CALENDAR (Dec 30, 2019)

Public holidays –
Dec 29: Independence Day (Mongolia)
Dec 30: New Year Special Holiday (Thailand)
Dec 31: World Solidarity Day (Azerbaijan)
Jan 1: New Year’s Day
Jan 1: Restoration Day (Czechia)
Jan 1: Establishment Day (Slovakia)
Jan 1: Independence Day (Sudan)\
Jan 1: Republic Day (Taiwan)
Jan 2: Public Holiday (Botswana)
Jan 2: Heroes’ Day/Ancestors’ Day (Haiti)
Jan 2: Berchtold Day (Switzerland)
Jan 3: Popular Uprising Day (Burkina Faso)
Jan 4: Independence Day (Myanmar)

START THE WEEK: COMMODITIES (Dec 20, 2019)

LME ($US), Dec 20 –
Aluminium 1,770.50
Copper 6,155.50
Zinc 2,341.00
Nickel 14,220.00
Lead 1,909.00
Tin 17,260.00
Cobalt 32,500.00
Gold 1,477.30
Silver 17.085

COMEX ($US), Dec 20 –
Gold 1,482.40
Silver 17.265
Copper 2.8035
Platinum 918.90
Palladium 1,822.30

LBMA price data ($US), pm Dec 20 –
Gold 1,479.00
Silver 17.03500
Platinum 936.00
Palladium 1,930.00

NYMEX ($US) 62% Fe CFR China, Dec 20 -
Iron ore 91.74

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Mining Billboard

Insights and analysis from leading industry commentators

US POLL SHOWS COVID PANDEMIC IMPACTS TURNING VOTER SUPPORT FOR MINING SECTOR

(COMMENTARY) ‘It all begins with mining’ ... US survey adds to growing evidence that the economic impacts of the global coronavirus pandemic are swaying public opinion to support the importance of mining.

DATADIGGING: MORE MINES REOPEN WHILE COVID IMPACTS PROJECT FUNDING SEARCH

(CORONAVIRUS) More mines are reopening due to easing COVID-19 restrictions while more project developers are reporting difficulties in sourcing finance due to the impacts of the global pandemic on investor sentiment.

PANTERRA JV ASSESSES PROCESSING OPTIONS FOR CUBAN REFRACTORY GOLD PROJECT

(DEVELOPMENT) US sanctions loom as funding hurdle for the high-cost development of an Albion/CIL processing plant for refractory material under PanTerra Gold joint venture over Cuba’s La Demajagua gold project.

MINING SEEKS ITS PLACE IN NATIONAL ECONOMIC RECOVERY AFTER COVID DISRUPTION

(COMMENTARY) As governments around the world start to focus on the economic road ahead post-coronavirus, a Mining Association of Canada survey finds strong public support for expansion of the nation’s share of the global critical minerals supply.

DATADIGGING: MORE MINES BACK IN ACTION AS COVID-19 LOCKDOWNS EASE

(CORONAVIRUS) More suspended projects resume production under strict precautions as national and regional COVID-19 lockdowns are eased, while our survey of coronavirus-related articles we have published during the last week show a number of companies are operating positively despite continuing restrictions on travel and business activity.

NEW INDONESIAN MINING LAW REVISIONS PASSED

New mining law revisions to cut through red tape and attract more investment
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Mining Brokers

START THE WEEK: COMMODITIES (May 25, 2020)

    START THE WEEK: CALENDAR (May 25, 2020)

      DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (May 24, 2020)

        START THE WEEK: COMMODITIES (May 15, 2020)

          START THE WEEK: CALENDAR (May 18, 2020)

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