Sadpo co-founder dies; industry is managing Covid-19 well

South African Diamond Producers Organisation (Sadpo) chairperson Gert van Niekerk reports in a newsletter that the organisation’s former deputy chairperson and co-founder Jaap van Heerden has passed away. Van Niekerk goes on to report that its members in the diamond mining industry have adapted well to the challenges amid the current circumstances.

Teranga shortens Wahgnion LoM plan, with intensified output forecasts

TSX-listed Teranga has posted an updated, shorter life of mine (LoM) plan for the Wahgnion gold project, in Burkina Faso, on the back of increased production, which has also lead to a higher set production guidance for 2020. Since achieving commercial production at the start of November last year, Wahgnion’s processing plant has performed about 25% above nameplate capacity for throughput and gold recovery, resulting in higher than planned production.

Rising silver output and prices lift Hecla results

NYSE-listed Hecla Mining managed to achieve a second-highest quarterly production of silver, since 2016, in the three months ended June 30, despite being amid the Covid-19 pandemic. More output combined with higher silver prices enabled the precious metals miner to generate 25% more revenue than the prior comparable three months, as well as generate $27-million of free cash flow.

Global Industry Standard on Tailings Management puts communities at the forefront

The Global Tailings Review (GTR) on August 5 launched the Global Industry Standard on Tailings Management, which aims to ensure tailings dam failures are a thing of the past. The GTR was co-convened by the United Nations Environment Programme (UNEP), the Principles for Responsible Investment (PRI) and the International Council on Mining and Metals (ICMM), in response to the catastrophic failure of a tailings facility at the Córrego do Feijão mine, in Brumadinho, Brazil, in January 2019.

Hummingbird expects to achieve higher second-half earnings

Aim-listed Hummingbird Resources reports that has achieved decent production results from its Yanfolila mine, in Mali, despite Covid-19 having caused a challenging operating environment in the second quarter of the year. The company poured 24 054 oz of gold in the quarter, compared with the 27 466 oz of gold poured in the second quarter of last year.

Gold price lifts Gold Fields’ interim earnings

JSE- and NYSE-listed Gold Fields expects its basic earnings a share for the six months ended June 30 to be between 90% and 110% higher year-on-year at between $0.17 and $0.18. Headline earnings per share (HEPS) for the first half of the year are expected to be between $0.19 and $0.20, which is at least 290% higher than the HEPS of $0.05 apiece reported in the first half of 2019.

DRDGold improves yearly output, just misses guidance

JSE- and NYSE-listed DRDGold has reported a 9% year-on-year increase in gold production to 174 385 oz in the financial year ended June 30. The company attributes the increase in output to a larger contribution from the Far West Gold Recoveries operation, which it acquired from gold miner Sibanye-Stillwater in 2018.