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September 15, 2020

Coronavirus company news summary – QRC urges government for exploration funding – Gemfields expects interim net loss – Protea Mining Chemicals’ solution to tackle copper and cobalt contamination

By Matthew Hall

15 September

The Queensland Resources Council (QRC) has urged the State government to provide additional funding from its $3bn Covid-19 stimulus package to a collaborative programme which is aimed at boosting exploration for new resource discoveries. QRC chief executive Ian Macfarlane said: “Exploration gives us new resource discoveries, new resource projects, new resource investment, new resource jobs, new resource exports and ultimately new resource royalties for all Queenslanders.”

Precious gemstones mining company Gemfields is expected to swing to an interim net loss for the six months ended on 30 June as the company could only hold one sale due to the Covid-19 pandemic. Furthermore, the company expects to report a net loss after tax of $56.7m in the first half of this year – this figure contrasts with the $12.4m profit that was reported during the same period last year.

Omnia Holdings’ Protea Mining Chemicals division has developed a solution that helps copper and cobalt mines reduce product contamination and increase throughput in the solvent extraction process. The company said in a statement that finding safer ways to extract valuable resources continues to be a priority in the mining sector which has been constrained by the impacts of Covid-19.

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