International - Copperbelt Katanga Mining

Gemfields attempts to mitigate virus effect with mini-auctions

November 11, 2020November 11, 2020 admin

Precious gemstones miner Gemfields (LON: GEM) (JSE: GML) said on Tuesday it is unable to say when it might be able to host its next auction, or generate meaningful revenue from sales, due to the “severe” impact of covid-19 restrictions. The company, which returned to the London Stock Exchange’s market for juniors this year, has only been able to host one auction so far in 2020. Held in February in Lusaka, the sale of commercial quality emeralds yielded $11.5 million. In comparison, Gemfields made $200 million in 2019 from auctions, which accounted for 93% of total group… Read More Here

Equipment & Technology International

Metso Outotec launches compact crusher

November 11, 2020November 11, 2020 admin

Finnish mining engineering group Metso Outotec has added a compact option to its primary gyratory crusher range that the company says can achieve large capacity with capex savings. Metso Outotec said the SUPERIOR MKIII 6275UG was developed in response to customer demand for a high-capacity underground primary crusher that did not require a primary feeder, scalper, and the associated infrastructure. “We’ve designed a more compact primary gyratory crusher reducing CAPEX that is applicable to both underground and above ground applications for the mining industry,” said Jim Bathie, VP Mining Crushers.… Read More Here

International New Mining Projects

Equinox to Build a $103m Brazil gold mine

November 10, 2020November 11, 2020 admin

Equinox Gold ready to start production at its Santa Luz gold mine, which is set to start contributing cash flow to the company in just over a year’s time. The $103-million mine, in Bahia state, Brazil, will produce over 903 000 oz of gold and generate $436-million in after-tax net cash flow over an initial 9.5-year mine life from 1.1-million ounces of openpit gold reserves. At $1 500/oz gold, the project has an after-tax net present value discounted at 5% of $305-million with an internal rate of return of 58%.… Read More Here

Iron & Steel International

Iron price jumps as Chinese imports continue at record pace

November 10, 2020November 10, 2020 admin

Iron ore prices surged on Monday as Chinese steelmakers continue to demand cargoes at a record-breaking pace amid a building boom in the world’s second-largest economy. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $121.75 a tonne on Monday, a 3.4% jump from Friday’s closing, and up 32% since the start of the year. Trade data released over the weekend showed China’s iron ore imports jumped 15% in October compared to the same month last year to 106.7 million tonnes. For the… Read More Here

Gold Covid-19 International

Gold price tumbles on covid vaccine breakthrough

November 9, 2020November 9, 2020 arnbethnic

Gold prices erased last week’s gains on Monday as news of the first successful late-stage covid-19 vaccine trials prompted investors to dump safe-haven bullion and flock to riskier assets instead. Spot gold sank below $1,900 per ounce during early hours of trading, down 5.3% to $1,853.42 by 11:15 a.m. ET. This marks its biggest single-day slide since August. US gold futures also declined 5.0% to $1,853.70 per ounce in New York. Equities surged after Pfizer said its experimental covid-19 vaccine was more than 90% effective. Pfizer and German partner BioNTech SE said… Read More Here

International Explosives Mining Supply Tenders

Orica gains Glencore contract

November 9, 2020November 9, 2020 arnbethnic1 Comment

ORICA has been awarded a five-year explosives technology and services contract for Glencore’s Australian copper and zinc operations, effective from January. Orica’s wireless initiating system technology, WebGen, is in use at Glencore’s Ernest Henry (EHM) Mine. As part of the contract Orica will deliver its full suite of explosives technology and blasting services including its wireless initiating system Webgen, its BlastIQ digital blast optimisation products and its Bulkmaster 7 explosives delivery system. The contract covers explosives technology and services at mines such as McArthur River in the Northern Territory; the… Read More Here

Mining technology Innovation International

Sensor-based sorting: New partnership accelerates sustainable innovation

November 9, 2020November 9, 2020 arnbethnic

Acrux Sorting Technology and IMS Engineering have entered a strategic partnership to provide sensor-based sorting technology to mineral resource owners on a fully-funded basis. The partnership has the objective of creating value for miners by upgrading marginal or uneconomical ore into valuable material that can be fed into an existing processing plant or sold on a concentrated basis at no financial risk to the capital spend. The uniqueness of the partnership offers innovative de-risked solutions to mineral resource owners, customised to the mineral commodity and operational environment, and provides a… Read More Here

Tailings International

Pan African Resources to acquire Gauteng-based tailings retreatment projects

November 9, 2020November 9, 2020 arnbethnic

Mid-tier gold producer Pan African Resources has entered into an agreement to acquire historic gold tailings assets owned by Mintails Mining, which was placed in provisional liquidation in 2018. The provisional liquidation of Mintails SA has resulted in an opportunity for Pan African to acquire gold tailings mineral resources not previously retreated. Pan African will evaluate the merits of constructing a large-scale tailings retreatment operation, similar to its Elikhulu operation at Evander, also in South Africa. Under the terms of the conditionalsale-of-shares agreements, Pan African intends to acquire the total share capital… Read More Here

International

A new method to monitor soil stability at open-cast mines from space

November 9, 2020November 9, 2020 admin

Researchers from Germany and China are using data from the Sentinel 1 mission of the European Union’s Copernicus Earth observation program to monitor soil stability at open-cast mines. In a study published in the International Journal of Applied Earth Observation and Geoinformation, the scientists explain that they used a special radar method, the Synthetic Aperture Radar Interferometry (InSAR), to investigate lignite regions in North Rhine-Westphalia in Germany. The InSAR method in itself is not new and is used in many places to detect ground deformations, whether after earthquakes or subsidence due to the… Read More Here

Gold International

The future for gold – is it brighter than ever?

November 9, 2020November 9, 2020 admin

The price of gold is soaring to new levels despite, or perhaps because of, the woes befalling the global economy, and pundits predict it will go higher yet, smashing all sorts of previous records. Will it, and just what makes this particular metal so special? Where Does Most Of The World’s Gold Currently End Up? It’s a funny thing but – our first primary use for gold was turning it into expensive trinkets like jewellery, iconography, and burial adornments. By 3000 BC we were beginning to use it for trading,… Read More Here