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COVID-19 weekly updates: Resources & METS sector

Aspermont’s Research and Intelligence Unit brings subscribers the latest weekly resources and METS sector updates in response to COVID-19.
COVID-19 weekly updates: Resources & METS sector COVID-19 weekly updates: Resources & METS sector COVID-19 weekly updates: Resources & METS sector COVID-19 weekly updates: Resources & METS sector COVID-19 weekly updates: Resources & METS sector

Staff reporter

Week 48 (04/12/2020-11/12/2020)

Company news  
 
Americas
 
● Dominion Diamond Mines agrees to sell its Ekati mine in Canada's Northwest Territories to its second-lien noteholders. The company filed for insolvency protection under Canada's Companies' Creditors Arrangement Act in April, citing disruption to the global diamond market caused by the COVID-19 pandemic which, caused it to put Ekati on care and maintenance.
● McEwen Mining says its Hochschild Mining-operated San Jose joint venture in Argentina has resumed production after recent lockdown restrictions were lifted.
 
Australia
 
● Northern Minerals advises shareholders of significant price gains since the beginning of 2020 in the basket of payable heavy rare earth elements produced from its Browns Range project. The company says the increasing global trade tensions and focus on ‘green' COVID-19 recovery investment have driven-up heavy rare earth prices in 2020.
● OceanaGold says a restart of its Didipio gold-copper underground mine is getting closer. The Philippines Department of Environment and Natural Resources had recommended the permits be renewed, but the process has been slow, a situation not helped by the outbreak of COVID-19.
 
Commodities and market outlook
 
● Fitch Solutions tells Mining Journal that the outlook for 2021 was generally positive for mining. Fitch forecasts prices to remain supported and mining capex to rise, with companies experiencing fewer disruptions to operations.
 
Industry bodies, government departments & regulators
Mining Journal reports Perenti Global NED Alex Atkins believes the industry has made good progress in terms of providing more opportunities for women and said the global pandemic could provide further impetus.