George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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If you don't buy Chinese Bellers, it'll sadly hit your wallet too, well price to be paid I guess
Aah well gertfrobe, I for one will not buy anything Chinese from now on. They need to pay for what they have done and the only way I can see is to hit them in their wallets.
Australia blasts Chinese ambassador for threatening to ruin our economy in response to backing inquiry into source of coronavirus - before consulate takes extraordinary step of LEAKING the fiery phone call
Ambassador Cheng Jingye slammed Australia's push for an inquiry into the virus
He said the probe could push Chinese citizens to reject Australian exports
The Morrison government stood firm in its decision to back the calls for a review
Trade Minister Simon Birmingham said the nation won't give in to 'coercion'
Mining operations in South Africa are allowed to restart and produce to a maximum of 50% of normal capacity, subject to having COVID-19 health protocols in place. Ellis says that production levels at 50% is a “pie in the sky target”.
This would mean the larger open cast mines opening fully from 1 May, and underground mines resuming 50% of production immediately, she says.
“Such a fast ramp up is unrealistic with social distancing measures and negates the fact that a return to Level 5 restrictions, curtailing mine production, is liable as South Africa approaches the peak of the crisis.”
The country will move from Level 5 to Level 4 lockdown on 1 May, with some businesses allowed to reopen.
All maintenance will be brought forward, and there is enough reserves to cover. lucky enough
the damaged has happened at the right time at Waterval.in which no agreements being terminated, so when demand it be ready roughly in 4 weeks . we have seen the last of new lows, because as mentioned ,one of few that pay dividends for pension funds, thus holding the price
GLA
Mining industry ‘more exposed’ to pandemic
South Africa’s mining sector is particularly exposed to the spread of Covid-19. According to the Minerals Council of South Africa, the industry employs a workforce numbering almost 420,000, many of whom are underground on any given day. Some mines have thousands of men and women underground, descending into the depths in crowded “cages”. Before and after, dressing rooms are filled with miners preparing for their shifts or cleaning up afterwards. It does not take an epidemiologist to realise that the mining work environment is a catalyst for spreading the COVID-19 pandemic.
In South Africa, this is exacerbated by the fact that the mining labour force remains migrant, with constant movement between the gold fields and platinum belt and Lesotho, Mozambique and the Eastern Cape. In addition, the average age in the industry’s workforce is over 40, increasing their vulnerability to an illness that poses a greater risk the older the infected person is.
The resources sector faces new and different challenges due to the current global crisis. From border lockdowns, new health protocols, falling demand and prices, production pressures, project delays, supply chain and logistics issues, staffing, to declining optimism - like most sectors, the industry has been turned upside down.
Many companies have been significantly affected by COVID-19, and global restrictions to encourage social distancing have seen projects either slowing or shutting down, and operations put on care and maintenance. Global mining giants like Rio Tinto and Anglo American have reported production slowdowns due to coronavirus-related restrictions. And, a study by Deutsche Bank shows that from mid-March virus-related base metal disruptions are hitting commodities operations with significant total output cuts; as an example, global offline capacity numbers show copper mine suspensions are 2.7Mty or 14% of global mine supply, and an estimated 85Mty of blast-furnace capacity has been suspended which equates to a demand cut of 50Mty of coking coal.
Only ones to pay as of a few,that pay a dividend
Alliance News) - Moody's Investors Service on Friday affirmed its Baa2 long term issuer rating for Anglo American PLC, however changed its outlook to negative from stable.
The credit agency's outlook change reflects its expectation that the miner's operating and financial performance will suffer from the disruption of mining operations and decline in certain commodity prices, caused by the Covid-19 pandemic.
I am told that the new acquisition is now on hold too.....ouch...that’s got to hurt.
South African President Cyril Ramaphosa extended a national lockdown to curb the spread of the coronavirus by two weeks until the end of April as infections continue to mount.
“There is sufficient evidence to show the lockdown is indeed working,” with the rate of new infections slowing, Ramaphosa said Thursday in a televised address. “Unless we take these difficult measures now, unless we hold this course a little longer, the coronavirus pandemic will engulf, and ultimately consume, our country.”
The diamond industry faces a reckoning, with mines and processing centers closed due to the coronavirus pandemic and demand threatened by a looming global recession.
Market leader De Beers, a unit of Anglo American PLC, has canceled a diamond auction, its third planned for this year, after its second auction ended in early March with sales down 28% from last year's event.