Economic & Industrial

Mining News Pro - The majority of resources companies in Queensland would either maintain or increase their workforce during Covid-19, a new survey by the Queensland Resources Council (QRC) found.

Mining News Pro - The global metals and mining industry has recorded $US1.26 billion ($2.05 billion) in mergers and acquisition (M&A) deals for February.

Mining News Pro - The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release.

Mining News Pro - State resource sectors across Australia have put contingency plans in place to stabilise the industry amid evolving travel bans across the country. Both federal and state governments have allowed mining operations to stay active, referring to them as “essential” businesses.

Mining News Pro - In November, Moody’s Investors Service forecast G-20 economies in 2020 would grow by 2.6%, but now estimates real GDP will contract by 0.5%, followed by a pick-up to 3.2% in 2021.

Mining News Pro - On a global scale, work is grinding to a halt and operations at mines are being temporarily suspended as majors and minors move to enact measures to protect against the spread of covid-19.

Mining News Pro - South Africa’s mining operators are racing against time to prepare for a nationwide shutdown of operations starting at midnight on March 26 and running until midnight Thursday April 16 as the government tries to slow the spread of the COVID-19 virus.

Mining News Pro - Northern Minerals has temporarily halted operations at the Browns Range mine in East Kimberly, Western Australia as a result of the coronavirus pandemic.

Mining News Pro - In response to the country’s lockdown effort to slow the spread of covid-19, AngloGold Ashanti announced Tuesday it will temporarily suspend production from its South Africa operations for three weeks as of midnight on 26 March 2020.

Mining News Pro - South African mining companies are bracing for a heavy hit from the country’s looming nationwide lockdown to slow the spread of the coronavirus, warning of an expected leap in costs in addition to their lost output.

Mining News Pro - Ontario premier Doug Ford and Quebec premier Francois Legault have ordered non-essential businesses in the two provinces to close starting Wednesday, Mar. 25 due to the growth of COVID-19 cases in Canada.

Mining News Pro - BHP plans to recruit 1500 people to support the company’s operations in the short term amid a “difficult” time.

Mining News Pro - The federal government has announced a new $66 billion stimulus package, increasing the “safety net” for businesses affected by the coronavirus pandemic.

Mining News Pro - With just 61 infections on March 15, President Cyril Ramaphosa imposed travel bans, instructed schools to close and outlawed large gatherings. He followed up with restrictions on restaurants and effectively closed bars, beating many worse-afflicted countries to the move. The central bank cut interest rates by the most in more than a decade at its scheduled policy meeting and boosted liquidity in local markets.

Mining News Pro - Fitch Solutions sees increasing downside risk to mineral production as the Covid-19 pandemic raises the chances of persistent operational disruptions.

Mining News Pro - A prefeasibility study (PFS) into the Bardoc gold project, in Western Australia, has forecast average yearly production of 135 000 oz at an all-in sustaining cost of A$1 220/oz.

Mining News Pro - A new report by advisory firm Deloitte has noted that the outbreak of the Coronavirus has added uncertainty to the pace of Western Australia’s economic recovery, with the state likely to be hard hit if market volatility persists.

Mining News Pro - Downer EDI has suspended the sale process of its mining business due to the “extraordinary market volatility” caused by the coronavirus pandemic.

Mining News Pro - The High Court of Australia has ruled that BHP would be taxed in Australia for the income earned in its Singapore marketing hub.

Mining News Pro - Gold mining company Kinross Gold has closed its Toronto office until at least next week Friday, to allow for a thorough cleaning and disinfection, after an employee tested positive for the Covid-19 virus.

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