Home Health Top 5 Mining Headline Stories Of The Week.

Top 5 Mining Headline Stories Of The Week.

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  1. Five gold panners are still trapped in the shaft that collapsed at Task Mine last week Thursday.
    Mashonaland West acting police spokesperson, Assistant Inspector Ian Kohwera said a rescue mission being conducted by a multi-sectoral team is currently underway and unfortunately none of the five miners have been rescued:
    The miners have been identified as: Crynos Nyamukanga, Munashe Nyamukanga (17),Shingai Gwatidzo (20),Costantino Dzinoreva and Charles.
    Reports say agencies from the airforce and the army are on the ground and trying to rescue the trapped panners. The rescue mission is being hampered by the absence of underground plans and the rescuers need to do a proper ground survey to carry out the rescue mission.
    Source: Great Dyke News 24. co.zw
  2. President Emmerson Mnangagwa’s spokesperson George Charamba has come out guns blazing against lawyers and environmentalists who forced government to abruptly withdraw two Chinese companies’ licences permitting them to mine for coal in Hwange National Park.
    In a Twitter rant, Charamba said national parks were not “God ordained”.
    The statements come after Zimbabwe Environmental Lawyers Association (ZELA) lobbied cancellation of the special licences for protection of flora and fauna.
    Government eventually succumbed to pressure, cancelling the licences and also banning all other mining activities in national parks across the country.
    . Source: New Zimbabwe.com
  3. Extensive exploration works at Eureka Gold Mine in Guruve District, Mashonaland Central Province have confirmed resource worth over US$1 billion.
    This was revealed by the shareholders of the mine while briefing Deputy Minister of Mines and Mining Development Polite Kambamura who toured the mine yesterday.
    Mr Marc Nicolle, chief executive of Dallaglio Investments, which owns the mine, said exploration works conducted so far have proved availability of massive gold resource, hinting actual production was expected to start during the third quarter next year. Source: The Herald
  4. Uranium One, a unit of Russia’s state-owned nuclear energy firm Rosatom, plans to begin producing lithium by 2023, targeting between 9% and 10% of the global market by 2030.
    “We are considering the acquisition of raw material assets overseas to integrate into global supply chains for final products such as batteries with localized production in Russia,” Sergey Polgorodnik, general director of Joint Stock Co. TENEX, told a weekly in-house news publication.
    Uranium One has been actively looking for lithium assets in the past year. In October, it inked a memorandum of understanding with Canada’s Wealth Minerals about acquiring up to a 51% interest in the company’s Atacama lithium project in northern Chile.
    The asset covers a 46,200-hectare license in one of the world’s highest grade and largest sources of the white metal, which has become an irreplaceable component of rechargeable batteries used in high tech devices and electric vehicles (EVs)
    . Source: Mining.com
  5. The global palladium market deficit is expected to “narrow significantly” this year, says Heraeus Precious Metals, one of the world’s largest platinum group metals (PGM) refiners.
    In its latest PGM market report in collaboration with SFA (Oxford) — The Palladium Standard — Heraeus outlines the geographically diverse supply base and lower metal demand due to slumps in the auto and industrial sectors as reasons for the tightening supply-demand gap, which is set to reach minus 145 koz this year compared to the minus 670 koz deficit recorded in 2019.

According to the PGM refiner, total palladium demand is expected to decline 16% to 8.89 moz in 2020, with industrial demand predicted to contract by 12% to 1.49 moz owing to a combination of high palladium prices and lower economic growth reducing the base level of demand.

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However, market tightness for palladium has eased somewhat as lease rates have declined and car sales have weakened. With the market set to be close to balance this year for the first time since 2009, the price of the metal is expected to soften but remain high by historical standards, Heraeus says. Source: mining.com

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