Proactive weekly mining highlights: Uranium prices, Greatland Gold, BHP Group …

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Aggressive buying of uranium by a new investment trust sent the price of the metal to its highest since 2014.


The Sprott Physical Uranium Trust has snapped up around 6mln pounds of physical uranium, worth around US$240mln, since its launch in July, the FT reported Friday.


Greatland Gold PLC (AIM:GGP, OTC:GRLGF, FRA:G8G) (AIM:GGP, OTC:GRLGF, FRA:G8G) said high-grade gold and copper was found outside the initial resource area of the Havieron deposit in Western Australia.


New results from the Growth Drilling programme under the Crescent Sulphide Zone and around the Northern Breccia continue to support the potential for resource expansion, it said.


All 12 new drill holes intersected mineralisation, with six holes returning significant assay intercepts greater than 100-gram metres of gold.


“Early works for the mine development are progressing to plan with the decline now advanced to over 120 metres from the Portal towards the top of the orebody.”


BHP Group PLC (LSE:BHP) (LSE:BHP) is the latest miner to sign up to use the artificial intelligence tools developed by a Bill Gates-backed start-up to find new deposits of metals required for batteries and clean energy.


The world’s biggest miner and Silicon Valley-based KoBold Metals will jointly fund exploration using data processing technology to help locate potential mineral deposits below the earth’s surface, starting in Western Australia, according to media reports.


Anglo American PLC (LSE:AAL) (LSE:AAL)’s De Beers Group sold US$515mln of rough diamonds in the seventh sales cycle of 2021 and said sentiment continues to be positive.


The provisional sales figure for the period 23 August to 7 September, is little changed from the US$514mln sold in this year’s sixth cycle and is 54% higher than the seventh cycle of 2020.


“Sentiment in the diamond industry’s midstream continues to be positive and this is reflected in our sales for Sight 7,” said Bruce Cleaver, chief executive of De Beers. “Demand for rough diamonds is a result of robust demand for polished diamonds in our key markets of the US and China.”


Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, FRA:RTZ, OTCQX:PAFRF) (AIM:PAF, OTCQX:PAFRY, JSE:PAN, FRA:RTZ, OTCQX:PAFRF) expects earnings per share to jump at least 63% for the year to end June 2021, helped by higher gold prices and sales.


EPS will be between 3.76 and 4.10 US cents, compared with 2.30 US cents for the year-earlier period, representing an increase of between 63% and 78% respectively, it said in a trading statement.


Revenue grew 34.8% to US$368.9mln as gold sales climbed 12.4% to 201,777 ounces and the average gold price received rose to US$1,821 an ounce from US$1,574.


Plans to build the UK’s first deep coal mine in 30 years in Cumbria are facing dwindling support as a public inquiry into the proposal gets underway today, the Guardian reported.


West Cumbria Mining has been developing plans for the creation of a metallurgical coal mine, known as Woodhouse Colliery, off the coast near Whitehaven in West Cumbria to supply UK and European steelmakers, which currently import around 45 million tonnes of metallurgical coal every year.

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