R/€ = 14.65 Change: -0.04
R/$ = 13.66 Change: -0.05
Au 1168.96 $/oz Change: -1.36
Pt 928.50 $/oz Change: -13.50

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Gold Fields’ Muller appointed Implats CEO

     Updated 2 hours 11 minutes ago Gold Fields executive VP for South Africa Nico Muller has resigned, effective March 3, to take up the position of CEO at Impala Platinum (Implats) on April 3. He will succeed Implats CEO Terence Goodlace, who will step down on December 1. 

Gold Fields’ Muller appointed Implats CEO
Photo by Duane Daws
Nico Muller

Gas technology group makes case for flexibility as South Africa mulls power road map

By: Terence Creamer     Updated 2 hours 15 minutes ago Leading gas-engine technology provider Wärtsilä has started making the case for greater flexibility within South Africa's evolving electricity supply industry, as well as within the gas-to-power subsector itself, as the country seeks comment on its future electricity road map. The Finnish group,... 

Gas technology group makes case for flexibility as South Africa mulls power road map
The 180 MW Sasolburg gas-engine plant

Aveng wins Gamsberg zinc mining contract

By: Martin Creamer     6th December 2016 A contract to establish and mine the Gamsberg opencast zinc operation has been awarded to Aveng Moolmans by Black Mountain Mining, a Vedanta Zinc International operation. Vedanta acquired zinc assets including Gamsberg from Anglo American in 2010 for $1 338-million. 

Aveng wins Gamsberg zinc mining contract
Photo by Duane Daws
Vedanta Zinc International CEO Deshnee Naidoo

Burkina Faso says dispute with Timis shouldn’t go to court

By: Bloomberg     Updated 5 hours ago Burkina Faso said Timis Mining shouldn’t go to court until it has exhausted local mediation over a dispute about one of the world’s largest manganese deposits that the company says stems from the government’s deliberate blocking of the project. “The problem can’t go to the courts before we’ve... 

ICMM commits to new tailings dam measures

By: Esmarie Swanepoel     6th December 2016 The International Council on Mining and Metals (ICMM) has adopted a range of new measures to manage tailing dams, following the Samarco disaster in 2015, which claimed the lives of 19 people in Brazil. The ICMM in December last year launched a review of the global tailings management of its... 

ICMM commits to new tailings dam measures

Companies need to work harder to gain societies' trust – Rio chairman

By: Reuters     Updated 5 hours ago Multinational companies need to do more to gain the trust of wider society, including better explaining why top executives are so highly rewarded in comparison to workers, the chairman of global miner Rio Tinto told British lawmakers. "Big companies are going to have to work harder and harder to... 

Rio CEO wants to expand in diamond mines rather than divest

By: Bloomberg     Updated 5 hours ago When Rio Tinto Group chief Jean-Sebastien Jacques took the reins of the world’s second-biggest mining company in July, there was speculation he’d sell a host of less desirable mines and smelters. The firm’s diamond business, underpinned by two underground mines, was considered by some analysts as... 

Rio CEO wants to expand in diamond mines rather than divest

Peak picks UK for refinery

By: Esmarie Swanepoel     6th December 2016 ASX-listed Peak Resources has selected a site for its proposed rare earth refinery, at Tees Valley, in the UK. Peak told shareholders that the UK site was selected to better position the company to establish a rare earth refinery at a location with access to global shipping, cheap and reliable... 

Gold Fields sells royalties to Maverix

By: Anine Kilian     6th December 2016 TSX-listed Maverix Metals on Tuesday announced that it had agreed to acquire a portfolio of 11 existing producing and nonproducing royalties from JSE-listed Gold Fields in return for 42.85-million common shares and 10-million common share purchase warrants of Maverix. "This transaction is an... 

Environmental group takes De Beers Canada to court over mercury

By: Reuters     Updated 2 hours 16 minutes ago An environmental group said on Tuesday it had filed a lawsuit against De Beers Canada, accusing the diamond producer of failing to report toxic levels of mercury and methylmercury at its Victor Diamond mine in northern Ontario. The Wildlands League alleged that De Beers failed to report mercury... 

Aureus Mining raises $76m, changes name

By: Megan van Wyngaardt     6th December 2016 Dual-listed Aureus Mining, which is changing its name to Avesoro Resources, on Tuesday raised $76-million through an equity fundraise. Through a subscription, principal placing and broker option, Aureus has now admitted 411-million new shares for trading on the Aim and the TSX. 

Aureus Mining raises $76m, changes name

Hummingbird sources capital for Yanfolila development

By: Megan van Wyngaardt     6th December 2016 Aim-listed Hummingbird Resources has entered into a mandate letter with Taurus Funds Management and secured an extension to the bridge loan facility to develop its Yanfolila gold project in Mali. Through the facility, Hummingbird will receive a $55-million mandate, made up of a four-year... 

Botswana copper production ceases as mining sector struggles for survival 

By: African News Agency      6th December 2016 Production in Botswana’s copper-nickel mining subsector is at a standstill following the voluntary liquidation of former top producer BCL in October, which was preceded by the collapse of two other producers in 2015. In his review of the mining sector during his State of the Nation Address (SONA)... 

Rio Tinto’s Guinea head departs amid mine-payment investigation

By: Bloomberg     6th December 2016 Rio Tinto Group’s head of operations in Guinea has left the company. Ismael Diakite, who had been in the role since 2011, said his departure from the company on December 2 was amicable though declined to offer any more details when contacted by phone in Canada. A spokesman for Rio confirmed the... 

Colluli granted govt approvals

By: Esmarie Swanepoel     6th December 2016 Eritrea's Ministry of Land, Water and Environment has approved ASX-listed Danakali’s social and environmental impact assessment (SEIA) for its Colluli potash project. Danakali reported on Tuesday that the approval of the SEIA represented a critical milestone in the advancement of the Colluli... 

Triton debuts new look, renews focus on Mozambique graphite project

By: Esmarie Swanepoel     6th December 2016 A new-look Triton Minerals has emerged from administration, resuming share trading on the ASX and with a renewed focus on the rapid development potential of its Ancuabe graphite project, in Mozambique. Triton in March went into voluntary administration, shortly after announcing plans to become a... 

Triton debuts new look, renews focus on Mozambique graphite project

Timis companies seek $385m from Burkina Faso over mining dispute

By: Reuters     6th December 2016 Three companies belonging to Romanian-Australian businessman Frank Timis's Pan African Minerals Group are seeking $385-million from Burkina Faso via mediation, accusing it of blocking development of one of the world's biggest manganese mines. According to an arbitration request addressed to the... 

KZN turns sod on R85bn privately owned coal power station 

By: African News Agency      6th December 2016 KwaZulu-Natal Premier Willies Mchunu on Tuesday said he was confident that the R85-billion investment to build a smelter park would usher in a new era characterised by employment and prosperity in the province. The CS Smelter Park, an investment made through the Brics countries, is earmarked to... 

Transnet lauds successful training collaboration with Glasgow university

By: Anine Kilian     6th December 2016 Another 145 Transnet Freight Rail (TFR) employees have completed degrees, diplomas and certificates in railway operations management through the Glasgow Caledonian University (GCU). The graduates, along with GCU principal and Vice-Chancellor Professor Pamela Gillies and Transnet CEO Siyabonga... 

Invicta’s Walters to join Assore as CEO

     6th December 2016 JSE-listed mining holding company Assore has appointed Charles Walters CEO, effective July 1. He will join the company as CEO designate on April 1. 

India’s coal export plans heading for the backburner

By: Ajoy K Das     6th December 2016 India’s nascent plans to export its way out of a domestic coal glut may be heading for the backburner. Domestic coal miners, primarily Coal India Limited (CIL), are failing to make much headway with plans to export their coal, with few buyers in neighbouring countries for the low-grade, high-ash... 

Berkeley pushes ahead with Salamanca build

By: Esmarie Swanepoel     6th December 2016 Uranium developer Berkeley Energia has completed key land acquisitions that will allow the company to accelerate the development of its Salamanca project, in Spain. Following a $30-million equity raising, Berkeley acquired and leased over 500 ha of land, which will allow for the completion of... 

Base metals price boosts EY mining index

By: Megan van Wyngaardt     Updated 2 minutes ago Following a comparably larger gain of 42% in the second quarter, financial services firm EY's Canadian Mining Eye index gained a modest 4% during the third quarter, which EY Canadian mining and metals leader Jim MacLean attributed to  an increase in the price of base metals. “The earnings are... 

Las Bambas claims a life

By: Esmarie Swanepoel     Updated 27 minutes ago Metals miner MMG has reported a fatality at its Las Bambas copper operation, in Peru. A contract worker was fatally injured on Tuesday by an uncontrolled release of pressurised water while working in the tailings thickener area of the concentrator plant. 

Las Bambas claims a life
Photo by Reuters
MMG CEO Andrew Michelmore

Barrick appoints new member to the board

By: Anine Kilian     Updated 29 minutes ago TSX-listed Barrick Gold has appointed Argentinian Pablo Marcet to the company's board of directors. In a statement released on Wednesday, the company said his appointment reflected the increasingly important role the South American region will play in Barrick's long-term growth strategy. 

Uranium Resources retires debt

By: Esmarie Swanepoel     Updated 37 minutes ago ASX-listed Uranium Resources will retire its A$8-million debt due to Resource Capital Fund (RCF). The energy metals developer on Wednesday announced a transaction, which would see an investor purchase an initial A$2.5-million of notes from RCF. These notes would the be exchanged for a share of... 

Alacer adjusts 2016 output expectations

By: Esmarie Swanepoel     Updated 38 minutes ago Dual-listed gold miner Alacer Gold has downgraded its production expectations for 2016, following delays to access higher-grade ore at the Marble Pit of its Çöpler gold mine in Turkey. Alacer now expects to produce between 115 000 oz and 125 000 oz of gold this year, rather than a previous... 

Alacer adjusts 2016 output expectations

NT's oil and gas exploration soars

By: Esmarie Swanepoel     Updated 44 minutes ago The Northern Territory government has celebrated the 47% increase in oil and gas exploration in the state, which has grown to its highest rate in 18 months. Companies spent a total of A$34.8-million on oil and gas exploration, marking the first significant upturn in exploration since the global... 

NT's oil and gas exploration soars

Minbos shareholder tempts with cash

By: Esmarie Swanepoel     Updated 46 minutes ago Phosphate developer Minbos Resources will raise A$3.85-million from its largest shareholder Green Services Innovation, which has exercised and paid 385-million options, at 1c each. An additional 310-million shares will be exercisable at the end of December this year, also at 1c each. 

Mt Cattlin going day and night

By: Esmarie Swanepoel     Updated 46 minutes ago The Mt Cattlin spodumene project, in Western Australia, has started 24-hour production, owner Galaxy Resources reported on Wednesday. Ore commissioning at the project started in mid-November, with the project also producing its first lithium concentrate during this time. 

MOD's Botswana copper/silver project gets A$135m price tag

By: Esmarie Swanepoel     Updated 49 minutes ago A scoping study into the T3 copper/silver project, in Botswana, has revealed that the project could support a two-million-tonne-a-year operation, to produce around 21 800 t/y of copper and 665 000 oz/y of silver, over a near ten-year mine life. ASX-listed MOD Resources reported on Wednesday that... 

MOD's Botswana copper/silver project gets A$135m price tag

Iluka takeover of Sierra Rutile back on

By: Esmarie Swanepoel     Updated 50 minutes ago ASX-listed Iluka’s £215-million acquisition of Sierra Rutile is back on track, after fears were allayed over two tailings dams. Iluka last month warned that the takeover was in jeopardy owing to geotechnical risks at two tailings dams that forms part of Sierra Rutile’s operations. 

Codelco optimistic about Chuquicamata copper mine wage talks

By: Reuters     Updated 2 hours 18 minutes ago Codelco is optimistic it can strike a deal with union leaders at its century-old Chuquicamata copper mine in northern Chile, it said this week as it embarked on complex contract negotiations. The wage talks at Chuquicamata, one of the Chilean state-owned company's largest operations, are seen as... 

Explorer sues Victoria govt for A$2.7bn over fracking ban

By: Esmarie Swanepoel     Updated 3 hours ago Oil and gas explorer Lake Oil has launched a A$2.7-billion legal claim against the Victorian government, after the state government announced plans to ban hydraulic fracturing (fracking). “The unjust and unlawful actions of the Victorian government, and its proposed Bill to ban onshore... 

Explorer sues Victoria govt for A$2.7bn over fracking ban

India’s Mining Tenement System remains work in progress

By: Ajoy K Das     6th December 2016 More than two-and-a-half years after it was launched, India's Mining Tenement System (MTS) continues to remain a work in progress with no contract awarded for the project and funds allocated remaining unused. A Parliamentary committee review of the project has revealed that the MTS, which was... 

Asian Minerals, Kasbah Resources acquisition court date postponed

By: Anine Kilian     6th December 2016 Following objections raised by a small number of Kasbah shareholders in relation to TSX-V-listed Asian Mineral Resources’ (AMR’s) proposed acquisition of ASX-listed Kasbah Resources, Australia’s Federal Court of Australia has adjourned the second court hearing date to December 12. The board of... 

Laramide, Uranium Resources ink LoI to amend terms of payment

By: Samantha Herbst     6th December 2016 Dual-listed uranium developer Laramide Resources has signed a letter of intent (LoI) with Texas-based miner Uranium Resources to amend the definitive share purchase agreement, signed on April 6, stipulating that Laramide would acquire Uranium Resources’ wholly owned subsidiary Hydro Resources,... 

Osisko makes new discovery at Windfall

By: Anine Kilian     6th December 2016 TSX-listed Osisko Mining has discovered a new linear structure currently being investigated at its Windfall gold deposit, in Québec, Canada, the company said in a statement on Tuesday. The Windfall Lake gold deposit, located between Val-d'Or and Chibougamau in the Québec’s Abitibi region, is... 

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