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Quick action needed to prevent collapse of global coal sector – Prevost

By: Martin Creamer Quick action was needed to prevent the collapse of the global coal sector, XMP Consulting senior coal analyst Xavier Prevost warned on Thursday. Addressing the Fossil Fuel Foundation junior coal mining conference – from which two Department of Mineral Resources (DMR) officials down to speak... 

Quick action needed to prevent collapse of global coal sector – Prevost

Andile Sangqu to head Anglo South Africa

By: Martin Creamer Andile Sangqu, former Xstrata and current Impala Platinum executive and new VP of the Chamber of Mines of South Africa, has sprung to further prominence as the new executive head of Anglo American South Africa. Anglo American plc also announced on Thursday that Kumba Iron Ore CEO Norman Mbazima... 

Andile Sangqu to head Anglo South Africa
Norman Mbazima (left) and Andile Sangqu

De Beers, six others form Diamond Producers Association

By: Creamer Media Reporter De Beers has partnered with six other diamond miners to establish the Diamond Producers Association (DPA), which would actively engage with industry and nonindustry organisations to promote the interests of the diamond sector. The other founding members were Alrosa, Rio Tinto, Dominion Diamond... 

De Beers, six others form Diamond Producers Association

Rockwell moves to close Remhoogte/Holsloot deal

By: Natalie Greve South African diamond miner Rockwell Diamonds has completed a “substantial” portion of the conditions precedent for its acquisition of the Remhoogte/Holsloot operations and associated assets, paving the way to close the transaction and assume ownership on June 1. The properties and assets were... 

Portfolio committee asks for clarity on fracking

By: Megan van Wyngaardt The Portfolio Committee on Mineral Resources on Thursday said it needed a comprehensive report, as well as insight into the relevant legislation, regarding hydraulic fracturing, or fracking, in South Africa. “This information will empower us to understand all the nitty-gritty aspects that are... 

Portfolio committee asks for clarity on fracking

BRPs appoint Evraz Highveld CFO, to publish business rescue plan in Aug

By: Megan van Wyngaardt Vertically integrated steel and vanadium slag producer Evraz Highveld Steel and Vanadium’s business rescue practitioners (BRPs) have appointed nonexecutive director Andrew Phillip Maralack acting CFO of the company, with immediate effect. Maralack was a qualified chartered accountant with... 

BRPs appoint Evraz Highveld CFO, to publish business rescue plan in Aug

Perseus receives nod to extend Edikan operations

By: Esmarie Swanepoel The Environmental Protection Agency of Ghana has given its approval for ASX- and TSX-listed Perseus Mining to extend mining operations at its Edikan gold mine. Perseus said on Thursday that the approval of the supplementary environmental-impact statement for the Edikan mine would allow the gold... 

Shanta secures $40m loan

By: Megan van Wyngaardt     Updated 7 hours ago East Africa-focused gold production and exploration company Shanta Gold has secured $40-million in loan facilities from Investec Bank. The company said that its operating subsidiary Shanta Mining Company, would use $20-million of the $40-million loan facilities to refinance an existing bank loan... 

Two bodies found near mine

By: News24Wire      Updated 7 hours ago Security guards at the Aquarius Platinum Mine in Kroondal, assisted by the Rustenburg police, found two bodies with their hands and legs tied from behind in a field outside the mine premises. The guards were chasing suspected copper thieves when they made the grisly discovery. 

Governor of Congo mining hub Katanga warns against tax hikes

By: Reuters The powerful governor of Democratic Republic of Congo's Katanga province warned on Wednesday against significant tax hikes in a proposed new mining code amid a recent decline in copper prices. The southeastern province accounts for nearly all of the vast central African state's copper production,... 

Stellar sells more diamonds from Baoulé trial mining

By: Megan van Wyngaardt     Updated 7 hours ago West Africa-focused Stellar Diamonds has sold diamonds valued at $505 000 at a recent auction. The Aim-listed diamond development company on Thursday said this brought the sales from its 75%-owned Baoulé kimberlite pipe, in Guinea, to over $922 000, of which $700 644 were derived from the trial... 

Lucapa to sign earthmoving deal, lists on Frankfurt Stock Exchange

By: Megan van Wyngaardt Dual-listed Lucapa Diamond Company is set to sign a A$4.5-million deal with unnamed partners to source new Caterpillar earthmoving equipment. The company, which on Thursday completed a secondary listing on the Frankfurt Stock Exchange, said the new equipment would enable diamond mining at its... 

Norway oil fund may have to sell out of up to 75 firms due to coal ban

By: Reuters Norway's $900-billion wealth fund may have to sell its stakes in up to 75 companies once new rules for limiting coal investments go into effect in a radical shift meant to lessen the impact of climate change, officials said on Thursday. Parliament's finance committee agreed a cross-party deal on... 

India’s SCCL lines up $80m for overseas acquisition

By: Ajoy K Das India’s Singareni Collieries Company Limited (SCCL) has set up a corpus of about $80-million to acquire an equity stake in an overseas coal block. The southern India-based miner is seeking to pick up the stake to secure coal supplies of at least five-million tons a year, as part of a plan to ramp... 

India’s SCCL lines up $80m for overseas acquisition

Australia iron-ore magnate Rinehart weakened by court ruling

By: Reuters Australian iron-ore magnate Gina Rinehart's eldest daughter won control of the $3-billion dollar family trust on Thursday in a judgment critical of Rinehart's former control of the fund and attempts to block the long-running legal dispute. The Supreme Court of New South Wales judgment loosens... 

Fortescue tie-up with a China steel group makes sense – official

By: Reuters Debt-heavy Australian iron ore miner Fortescue Metals Group could find willing investors in Chinese steel mills anxious to ensure multiple sources of supply for the raw material, a senior Chinese government official said on Thursday. Media reports this week said Fortescue - already about... 

Fly-in, fly-out ‘necessary, but overused’ – unions

By: Creamer Media Reporter Australian trade unions have raised concern about the widespread use of long-distance commuting forms, such as fly-in, fly-out (Fifo) work practices, and have called on federal and state governments to do more to ensure that mining companies provide workers with a choice about their working and... 

WA acquires land for new deep-water port to service West Pilbara

By: Esmarie Swanepoel The Western Australian government has started the formal acquisition process of land necessary for the proposed Anketell deep-water port project, about 30 km east of Karratha. Premier and State Development Minister Colin Barnett said the acquisition was vital to the development of the port,... 

WA acquires land for new deep-water port to service West Pilbara
Western Australia Premier Colin Barnett

Wolfden Resources terminates Murray Brook acquisition, opts for Manitoba claim

By: Henry Lazenby     Updated 11 minutes ago Base metals explorer Wolfden Minerals has cancelled its exclusivity agreement to buy a 65% interest in the Murray Brook project, the fifth-largest massive sulphide deposit in the Bathurst Mining Camp (BMC) of New Brunswick, from Votorantim Metals Canada, settling instead for a Manitoba... 

World Bank member invests in Peru-focused explorer

By: Henry Lazenby     Updated 24 minutes ago World Bank Group member the International Finance Corporation (IFC) on Thursday agreed to invest about C$4.5-million in Peru-focused explorer Tinka Resources. IFC said its motivation was to help the company develop Peru's mining sector in a way that promoted job creation and local community... 

Recession unavoidable for Alberta this year – Conference Board

By: Henry Lazenby     Updated 58 minutes ago Despite oil prices having seemingly stabilised, oil-and-natural gas producing Alberta's economy was headed for an overall decline in real gross domestic product (GDP) this year The Conference Board of Canada's ‘Provincial Outlook: Spring 2015’ had found. The economy of the Western Canadian... 

Recession unavoidable for Alberta this year – Conference Board

Canadian Mining Eye Index slows decline – EY

By: Henry Lazenby     Updated 1 hour 23 minutes ago Professional services firm EY’s ‘Canadian Mining Eye Index had slowed its decline in the three months ended March 31, falling only 1% compared with a 12% decline in the fourth quarter last year. The index, which tracked the Canadian mining sector performance of 100 TSX- and TSX-V-listed mid-tier... 

Ivanhoe CEO to lead delegation to DRC this weekend to iron-out copper 'confusion'

By: Henry Lazenby     Updated 2 hours 8 minutes ago Africa-focused project developer Ivanhoe Mines will send a high-level delegation to the Democratic Republic of Congo (DRC) this weekend to address any “misunderstandings” that might exist between itself and the government following Ivanhoe’s announcement Monday to sell nearly half of the Kamoa... 

Ivanhoe CEO to lead delegation to DRC this weekend to iron-out copper 'confusion'

Gold Road hikes Gruyera mineral resource 44%

By: Esmarie Swanepoel Junior gold developer Gold Road Resources has reported a 44% increase in mineral resources at its Gruyera mineral deposit, in Western Australia. The deposit was estimated to host 137.81-million tonnes, grading 1.24 g/t gold for 5.51-million ounces of gold. This was a 1.67-million ounce increase... 

Newmont cancels Macmahon contract at NZ mine up for sale

By: Esmarie Swanepoel Project house Macmahon Holdings on Thursday announced that its two-year contract with gold miner Newmont at the Martha mine, in New Zealand, had been cut short owing to safety concerns. The contract, which was valued at A$38-million, had initially been scheduled to complete in April next year;... 

ASX clears the way for Phoenix, Evolution transaction to proceed

By: Esmarie Swanepoel The way has been cleared for ASX-listed Phoenix Gold to complete a strategic alliance with fellow-listed gold miner Evolution Mining, after the ASX granted a waiver from a listing rule. The agreement will also not be subject to Foreign Investment Review Board approval. 

Resources Watch

By: Creamer Media Reporter This week: The Chamber of Mines reveals its plan to get South Africa’s ‘great mining industry’ back on the front foot. South32 shares rise on thei JSE debut, while BHP Billiton shares fall. And, 3M aims to increase sales to the mining sector. 

Resources Watch

Uranium Energy collects permits for Palangra expansion

By: Henry Lazenby US uranium producer and project developer Uranium Energy Corp (UEC) on Wednesday announced that it had received all required permits to produce uranium from new resource areas at the Palangana in situ recovery (ISR) mine, in Texas, after it had obtained a larger mine permit and aquifer exemption... 

Inca One sees new listings as 'logical step' to expand South American presence

By: Henry Lazenby Canadian mineral processing firm Inca One has started trading on the Santiago Stock Exchange, Venture (SSEV) market, giving it access to the Latin American Integrated Market (MILA), Latin America’s largest stock-trading platform. “Listing on the SSEV and giving Inca One access to the MILA is a... 

Peregrine first junior to join Diamond Bourse of Canada

By: Henry Lazenby Explorer Peregrine Diamonds is the first junior mining company to become a member of the Diamond Bourse of Canada (DBC), joining the ranks of diamond major De Beers Canada, among others. The DBC was a central commodity exchange facility and a network that brought together buyers and sellers and... 

Guyana Goldfields starts commissioning at Aurora gold project

By: Henry Lazenby TSX-listed Guyana Goldfields (GGI) has started commissioning equipment at is Aurora project, saying the project remained on track for the first gold pour by midyear. The project was currently about 85% built, with the focus now being on operational readiness training and commissioning. 

Study finds Certej project a valuable low-cost asset

By: Henry Lazenby A new feasibility study on multinational miner Eldorado Gold’s western Romania-based Certej project has found that the now shovel-ready project is a boon to its low-cost asset base. The company’s subsidiary, Deva Gold, through which Eldorado owned an 80.5% stake in Certej, and an internal team... 

Study finds Certej project a valuable low-cost asset
Photo by Eldorado Gold
The historic Certej openpit, Romania.

African Copper to delist by June

By: Megan van Wyngaardt Zambia Copper Investments subsidiary African Copper on Wednesday said that it would cease to trade ordinary shares on the LSE from June 5, with the AIM-cancellation becoming effective June 8. The embattled company earlier this month reported that it had agreed to unsecured loan facility for... 

Evraz, Sasfin settle dispute

By: Natasha Odendaal Vertically integrated steel and vanadium slag producer Evraz Highveld Steel and Vanadium on Wednesday announced that a dispute with financial services provider Sasfin Bank had been resolved. On Monday, Evraz Highveld said it had launched an urgent High Court application against Sasfin to have the... 

Evraz, Sasfin settle dispute

Namibian mining’s pulling together boosting country’s economy – Nedbank 

By: Martin Creamer Despite the Namibian economy being tied to the South African economy, it has been able to grow ahead of South Africa, which a leading mining investment banker puts down to Namibia’s “sensible” mineral policies, as well as the Namibian mining industry’s close working relationship with its... 

Namibian mining’s pulling together boosting country’s economy – Nedbank
Photo by Duane Daws
Paul Miller

S African power plants face 17Mt coal shortfall 

By: Reuters South African power utility Eskom faces a 17-million tonne coal shortfall by 2017 at its coal-fired power plants, a Cabinet Minister said on Wednesday. The shortfall is anticipated in 2015 at Matla, Tutuka and Hendrina power stations and in 2016 at Kriel and Arnot Power Stations, Public... 

S African power plants face 17Mt coal shortfall
Photo by Duane Daws
Kriel power station

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