Glencore PLC (LON:GLEN) results revealed its commodities trading business intends to make hay whilst the sun shines, at the cost of shareholder payments. The miner and trader said it won’t be paying dividends during 2020 though at the same time its trading unit achieved record earnings.
Anglo Asian Mining PLC (LON:AAZ) director Stephen Westhead told investors that the company is looking forward to expediting work in the second half of the year, to deliver further positive progress in Azerbaijan. “Both Avshancli and Gilar will be explored by ground-based induced polarisation and magnetic geophysics in the second half of the year,” said Westhead.
Kavango Resources PLC (LON:KAV) saw its shares surge after an update on its Kalahari Suture Zone (KSZ) prospect. The Botswana-focused mineral exploration company said the geology of the KSZ might be similar to the Norilsk deposits in Russia, which host some of the world’s richest mineralised zones of copper-nickel-platinum group metals.
Jubilee Metals Group PLC (LON:JLP) chief executive Leon Coetzer said a joint venture to process up to 4mln tonnes of copper tailings in Zambia has “tremendous earnings potential”. The plan is to start with an initial 2mln tonnes of leftover material containing more than 2% copper via a processing facility that will cost US$15mln, with first production expected in the next four months.
Cornish Lithium said its zero carbon lithium collaboration with Geothermal Engineering Ltd (GEL) will receive investment from the UK government’s Getting Building Fund to help fund the construction of Europe’s first geothermal lithium recovery pilot plant near Redruth in Cornwall.
Ferrexpo PLC (LON:FXPO) declared a second interim dividend as cash flow was strong amid continued strength in iron ore pellet prices.
IronRidge Resources Ltd (LON:IRR) soared as the group described as ‘exceptional’ the latest gold exploration results from the Zaranou project in Côte d’Ivoire, West Africa, with some grades as high as 1,075 grams per tonne (g/t). The set of results, from the Ebilassokro and Ehuasso targets, are the latest in a series of strong drill results and contain the highest grades to date.
AfriTin Mining Ltd (LON:ATM) told investors that monthly tin production at the Uis mine, in Namibia, rose to 35 tonnes, up 79% month-on-month. Production for the year to date totalled 112 tonnes after the month of July, it added.
Europa Metals Ltd (LON:EUZ) has shuffled its board with Laurence Read now chief executive and Myles Campion moving up to executive chairman from technical director.
Sunrise Resources PLC (LON:SRES) told investors that the Nevada authorities have now issued the notice of a final decision to grant the required mine reclamation permit for the group’s CS Project.
Bushveld Minerals Limited’s (LON:BMN) 84%-owned Enerox Holdings has acquired a further 65.1% of the share capital of Enerox GmbH. The investment is in line with the company’s strategy of establishing a vanadium redux flow battery investment platform
Ncondezi Energy Ltd (LON:NCCL) has submitted the Transmission Integration Study for the integrated 300MW coal-fired power project and coal mine that it plans to build in Tete, Mozambique to Electricidad de Moçambique.
KAZ Minerals PLC (LON:KAZ) told investors it is in ongoing talks with Russian authorities regarding the power and infrastructure needed for its proposed Baimskaya copper mine project.
Alien Metals Ltd (LON:UFO) detailed plans for a maiden exploration drilling campaign for the Donovan-2 copper-gold volcanic massive sulphide (VMS) project in Mexico.
Baker Steel Resources Trust Ltd (LON:BSRT) NAV rang in at 75.5p as at 31 July 2020, down by just over 2% on the June number, as the impact of strength in the price of sterling offset upward moves in precious metals prices. Sterling rose over 6% against the US dollar during the period.
Vast Resources PLC (LON:VAST) updated investors with the latest results from underground drilling at the Baita Plai polymetallic mine in Romania. Drilling on the Antonio skarn has returned highly encouraging results in-line with company expectations, Vast said.
NQ Minerals PLC (AQSE:NQMI) produced record levels of metals concentrate from its Hellyer Gold Mine in Tasmania, Australia during July.
Chaarat Gold Holdings Ltd (LON:CGH) produced 26,960 ounces of gold equivalent from its Kapan mine in Armenia during the first half of 2020 and expects to produce 55,000 ounces of gold for the year.
Ariana Resources PLC (LON:AAU) said it has revised its agreement with KEFI Minerals (LON:KEFI) and its subsidiary Dogu concerning the net smelter return (NSR) on the Kizilcukur project and an exploration database encompassing the Republic of Turkey.
Published at Sat, 08 Aug 2020 08:30:00 +0000-Proactive weekly mining highlights: Glencore, IronRidge Resources, Kavango Resources, Jubilee Metals…