Vedanta's Gamsberg resumes; SolGold seeks new CEO after BHP, Newcrest opposition

TOP NEWS IN METALS & MINING

* Vedanta Ltd. subsidiary Vedanta Zinc International Group has resumed mining operations at its Gamsberg zinc mine in South Africa, which was suspended in November 2020 when a pit wall collapsed, trapping mine workers, Reuters reported.

* SolGold PLC has reportedly started a process to replace CEO Nick Mather, after nearly half of its shareholders, including BHP Group and Newcrest Mining Ltd., opposed his reelection to the company's board in its Dec. 17, 2020, annual general meeting, Reuters reported, citing a source familiar with the matter.

➤ Barrick 'supportive' of Firefinch in tax dispute over Mali's Morila gold mine

Firefinch Ltd. Executive Chairman Alistair Cowden told S&P Global Market Intelligence that Barrick Gold Corp. is "supportive" of the company in its dispute with Mali's tax department over the Morila gold mine.

➤ Rio Tinto/BHP Arizona copper JV land exchange cleared by Trump administration

The land exchange needed for the Rio Tinto and BHP joint venture Resolution copper mine project in Arizona, which has long been in development, was the target of a last-minute lawsuit by tribal groups.

➤ IGO confident in lithium partnership voice with sustained bull market to come

IGO Ltd. CEO Peter Bradford is confident that the deal structure of his company's entry into lithium via a partnership with Tianqi Lithium Corp. will ensure it can have a key say in decisions to benefit from what is shaping up to be a strong bull market.

BASE METALS

* A worker at Chilean state miner Codelco's Chuquicamata copper mine died after suffering an accident at the mineral treatment plant. Operations at the plant were halted as the company started an internal investigation, news radio Bio Bio reported.

PRECIOUS METALS

* Single-asset gold producers are becoming increasingly rare, pushing mining companies and investors to consider development assets instead, Osisko Gold Royalties Ltd. President and CEO Sandeep Singh said during a company webinar with investors.

* The Global Palladium Fund, founded by Russian miner PJSC Norilsk Nickel Co., has launched Exchange Traded Commodities for metals on the Deutsche Börse. The fund intends to launch the ETCs on the London Stock Exchange shortly.

* Nevada Gold Mines LLC, a joint venture between Barrick Gold and Newmont Corp., is fighting in a Nevada court to halt a bid by state legislators to put a referendum on raising mining taxes to voters in 2022, the Nevada Independent reported.

* Caledonia Mining Corp. PLC's full-year 2020 production from its Blanket mine in Zimbabwe, on a 100% basis, hit a record 57,899 ounces of gold, the top end of the miner's revised increased guidance. Full-year 2021 gold output is projected to range from 61,000 ounces to 67,000 ounces.

* OceanaGold Corp.'s full-year 2020 gold production totaled 301,675 ounces, down from about 470,600 ounces in the previous year, based on preliminary results.

* Midas Gold Corp. reached an agreement with the U.S. Environmental Protection Agency and the U.S. Forest Service to clean up the abandoned Stibnite mine and address environmental issues at the site without inheriting the liability from legacy hazards and waste left behind by previous operators.

* At least 12 workers trapped in the Hushan gold mine in China after an explosion are still alive, Xinhua News Agency reported.

BULK COMMODITIES

* Russian aluminum-to-power conglomerate En+ Group IPJSC's board approved measures to initially reduce greenhouse gas emissions by at least 35% by 2030, then subsequently achieve net zero Scope 1 and 2 emissions by 2050.

* The U.S. State Department sanctioned several entities and individuals for doing steel-related business involving the Islamic Republic of Iran Shipping Lines, its subsidiaries and other Iranian shipping entities, S&P Global Platts reported.

* Metallurgical Corp. of China Ltd. said that its newly signed contracts in 2020 amounted to 1.019 trillion Chinese yuan, up 29.4% from 2019.

* China Coal Energy Co. Ltd. produced 110 million tonnes of coal in full-year 2020, increasing 8% from the 101.8 Mt produced in the prior year.

* U.S. Steel Corp. completed the acquisition of the remaining equity of Big River Steel LLC for about US$774 million.

SPECIALTY

* Sociedad Quimica y Minera de Chile SA CEO Ricardo Ramos said its relations with local indigenous communities surrounding the Atacama salt flat is "progressing well," with their relationship with the communities being a priority.

* Russian titanium producer VSMPO-AVISMA was excluded from the U.S. Department of Commerce's list of firms prohibited from using U.S. technology due to their ties with the armed forces of their respective countries, Vedomosti reported

* Lithium Australia NL has lessened its exposure to European exploration expenditure after surrendering its Eichight license and not renewing its Sadisdorf license in Germany. The company has yet to decide on the future of its Hegelshöhe license, also in Germany.

* China's Tianqi Lithium Corp. halted a private share sale plan worth 15.93 billion Chinese yuan after receiving queries from the Shenzhen Stock Exchange, to avoid short-swing trading and to protect the interests of smaller shareholders.

* London-headquartered Pensana Rare Earths Plc intends to voluntarily delist its shares from trading on the ASX, but retain its primary listing on the LSE.

* Toronto-listed Lithium Americas Corp. received final approval from the U.S. Bureau of Land Management for its Thacker Pass project in Nevada.

* Lucapa Diamond Co. Ltd. recovered a 104-carat D-color white stone from Mining Block 46 of its Lulo alluvial mine in Angola.

* POSCO has completed the final internal approval process for its US$7.5 million equity investment aimed to advance the development of Black Rock Mining Ltd.'s Mahenge graphite project in Tanzania.

INDUSTRY NEWS

* An attorney focused on health and safety issues said he thinks an emergency temporary standard for U.S. mine workers related to the pandemic is likely coming soon as a mine workers' union gears up to renew its call for the protections.

* After four consecutive months of decline, S&P Global Market Intelligence's Pipeline Activity Index rose sharply in December, to 122 from 98 in November, as significant financings and drill results, initial resources and positive project milestones all improved.

* The US$1.60 billion raised for junior and intermediate mining companies in December 2020 closed out a year of strong fundraising for metals and mining; the US$11.23 billion total was the highest since 2012, according to S&P Global Market Intelligence's Metals and Mining Research team.

* The U.S. Department of Energy has established a unit to reinforce efforts to secure the country's critical minerals supply chain and transform energy and manufacturing systems.

MARKETS

Click here for a summary of indexes on the MI platform.

S&P Global Platts and S&P Global Market Intelligence are owned by S&P Global Inc.

The Daily Dose is updated as of 8 a.m. London time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.