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Premier mining and commodity investment news

Harmony Gold withdraws annual production guidance

6 May 2020 /  Promit Mukherjee, Reuters  
From May 1, mines have been allowed to start operations with 50% of their workforce.

Looking for a glowing commodity, try uranium

6 May 2020 /  Clara Ferreira Marques, Bloomberg  
For now, uranium has some rare radiance.

Assore chrome mine in SA shuts after worker diagnosed with Covid-19

6 May 2020 /  Helen Reid and Tanisha Heiberg, Reuters  
Mine would resume operations after management's audit.

While no one was looking, a miner pulled off a major gold find

6 May 2020 /  Ciaran Ryan   19
In Namibia – with Namibian and South African managers, Australian technology and Canadian money.

Has the gold stallion bolted?

4 May 2020 /  Ciaran Ryan   6
Not by a long shot. Even Bank of America puts it at $3 000 an ounce in 18 months.

Amcu wins case on Covid-19 safety for miners

4 May 2020 /  Tanisha Heiberg, Reuters   3
'Now the lives and livelihoods of mineworkers can be protected.'

Fears rise for illegal SA miners hiding underground in virus lockdown

1 May 2020 /  Kim Harrisberg, Thomson Reuters Foundation   8
'We are more afraid of the police than the virus.'

Implats cuts output guidance and capex spend as coronavirus weighs

30 Apr 2020 /  Tanisha Heiberg, Reuters  
The lockdown resulted in a 6% reduction in production, equivalent to 26 000 ounces, in its financial third quarter to March 31.

Glencore joins in mining industry’s rush to cut spending

30 Apr 2020 /  Thomas Biesheuvel, Bloomberg  
The company will reduce capital expenses in 2020 to between $4 billion and $4.5 billion from its previous forecast of $5.5 billion.

Village Main Reef postpones potential job cuts until lockdown ends

29 Apr 2020 /  Tanisha Heiberg, Reuters  
SA imposed a strict 21-day lockdown on March 27, which was extended until May, to stop the spread of the new coronavirus, forcing most mines to temporarily shut down.

World’s deepest gold mines on a ‘cliff’ as virus curbs output

UPDATE
29 Apr 2020 /  Felix Njini, Bloomberg    3
Covid-19 could be the final nail in the coffin for the ailing industry.

60% of recalled miners have returned to work

29 Apr 2020 /  Ciaran Ryan   6
But mining in the era of social distancing poses unique challenges.

Can gold love a coronavirus crisis?

28 Apr 2020 /  Peter Hobson, Rajendra Jadhav and Saqib Iqbal Ahmed, Bloomberg   
Monetary stimulus, economic turmoil push investors to gold.

Shocking charges of serious environmental offences by Eskom

28 Apr 2020 /  Chris Yelland   26
Data supplied by utility described as a ‘gross misrepresentation’ – and no sign of action plan called for by government.

Gold bars are flying 11 000 miles to New York to ease supply squeeze

26 Apr 2020 /  David Stringer, Bloomberg   11
Gold coin, minted bars sales in March jump to highest since 2013.
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