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Implats to invest R30bn over 5 years, selling Marula, deferring Afplats

By: Martin Creamer With the long-term fundamentals for platinum-group metals (PGMs) remaining strong, platinum-mining major Impala Platinum plans to invest R30-billion across its operations in the next five years, but at a lower level than previously planned in the next two years, when PGMs prices are likely to be... 

Implats to invest R30bn over 5 years, selling Marula, deferring Afplats
Photo by Duane Daws
Implats CEO Terence Goodlace

Implats moves to power platinum refinery with platinum fuel cells

By: Martin Creamer Platinum major Impala Platinum (Implats) is studying the feasibility of taking its entire platinum refinery off the national electricity grid and powering it with platinum fuel cells. The refinery already has a supply of available hydrogen to fuel the cells and would need some 20 MW of fuel-cell... 

Implats moves to power platinum refinery with platinum fuel cells
Photo by Creamer Media
Terence Goodlace and Martin Creamer

Low grades, stoppages hurt Pan African’s H1 earnings

By: Natalie Greve Precious metals mining group Pan African Resources has posted a 62.8% drop in headline earnings to R102.6-million for the six months ended December 31, saying on Thursday that the six months were made “challenging” by a lower-grade mining cycle at Evander Mines, in Mpumalanga, contamination in... 

Aquila Resources takes govt to court over overlapping mining rights

By: Natalie Greve     Updated 7 hours ago Steel producer Aquila Resources on Thursday instituted legal proceedings against the South African government in the Pretoria High Court to resolve an alleged overlapping prospecting right over its Avontuur manganese project, in the Northern Cape. The company said in a statement that its decision... 

Aquila Resources takes govt to court over overlapping mining rights

Resgen reveals possible financiers for Boikarabelo construction

By: Megan van Wyngaardt South Africa-focused coal miner Resource Generation (Resgen) on Thursday revealed that it was in negotiations with FirstRand Bank, acting through its Rand Merchant Bank division, HSBC Bank - Johannesburg Branch, the Industrial Development Corporation, Noble Resources International and Export... 

M&R accelerates Clough’s globalisation as Australian LNG workflow tapers

By: Terence Creamer Engineering and construction group Murray & Roberts (M&R) has signalled its intention to accelerate the internationalisation of its Australia-based oil and gas unit, Clough – a strategy underpinned by a dramatic tapering off of greenfield liquefied natural gas (LNG) megaprojects in Australia and... 

M&R accelerates Clough’s globalisation as Australian LNG workflow tapers
Clough CEO Kevin Gallagher

CoM welcomes budget allocations, opposes carbon tax

By: Megan van Wyngaardt The Chamber of Mines (CoM) has lauded Finance Minister Nhlanhla Nene’s budget speech on Wednesday, stating that it prioritised the Mining Phakisa Lab, aimed at healthier cooperation between government and the mining industry to resolve constraints and hurdles that hinder the growth of the mining... 

CoM welcomes budget allocations, opposes carbon tax

Sibanye Gold says not keen on Implats' Marula mine

By: Reuters     Updated 7 hours ago South Africa’s Sibanye Gold, which says it wants to expand into platinum, said on Thursday it was not interested in Impala Platinum’s Marula mine. Implats earlier announced on Thursday announced its intention to sell Marula, which produced 78 500 oz of platinum in its 2014 financial year, as part... 

Kibo enters two JVs with Metal Tiger for gold and uranium projects

By: Megan van Wyngaardt     Updated 7 hours ago Tanzania focused exploration and development company Kibo Mining has completed due diligence on its Morogoro South gold-prospective exploration portfolio and has started its 50/50 joint venture (JV) activities with investing company Metal Tiger. The portfolio, which consists of 18 licences,... 

Kibo enters two JVs with Metal Tiger for gold and uranium projects

Zambian ex-mines minister found guilty of corruption

By: Reuters Zambia's former mines minister was convicted of corruption on Monday for his role in the award of prospecting licences to a Chinese mining company in 2009. Delivering judgment in the matter, magistrate Lameck Mwale said the prosecution had proved that Maxwell Mwale interfered in the award of... 

Metallon to spend $78m to raise gold output in Zimbabwe

By: Reuters The Zimbabwe unit of London-based Gold mining company Metallon Corporation said it will spend $78.3-million to buy new equipment and expand underground mining to increase production to 150 000 oz of gold this year. Metallon Corporation runs five gold mines in Zimbabwe through its Metallon Gold... 

Gippsland makes a new plan in Egypt

By: Esmarie Swanepoel ASX-listed Gippsland could start production at its Abu Dabbab tantalum/tin/feldspar project, in Egypt, by 2016, the company reported on Thursday. Gippsland said that it had signed a conditional financing agreement with Taiwan-based Foxxtel and Egyptian businessman Ashraf Henin for a $7-million... 

Resolute signs up for Taruga project

By: Esmarie Swanepoel Gold miner Resolute Mining has agreed to a joint venture (JV) with junior Taruga Gold over three concessions in Côte d’Ivoire. Under the terms of the agreement, Resolute would earn a 75% interest in the three tenements by spending some $3-million in exploration over a four-year period. 

Oz explorer exercises option to acquire two US projects

By: Henry Lazenby     Updated 5 minutes ago Australian explorer Carnavale Resources has exercised an option to acquire private firm Tojo Minerals, which held the rights to the Red Hills project, in Nevada, and the Little Butte project, in Arizona. Perth, Australia-based Carnavale said it would move to immediately ramp-up exploration... 

Endeavour Mining raises stake in West Africa-focused Legend Gold

By: Henry Lazenby     Updated 4 hours ago West Africa-focused gold producer Endeavour Mining has filed an ‘early warning report’, as required by National Instrument 62-103, after it had increased its holdings in Mali-focused explorer Legend Gold to about 18.75%. Vancouver-based Endeavour said that it had received a further 2.5-million... 

Obama vetoes Keystone XL pipeline, leaving it in limbo

By: Reuters     Updated 4 hours ago President Barack Obama on Tuesday, as promised, swiftly vetoed a Republican bill approving the Keystone XL oil pipeline, leaving the long-debated project in limbo for another indefinite period. The US Senate Majority Leader Mitch McConnell, after receiving Obama's veto message, immediately... 

Montero declines participation in Ethiopian graphite project

By: Henry Lazenby     Updated 4 hours ago TSX-V-listed Montero Mining and Exploration on Thursday announced that it had declined participation in the Moyale graphite project, in Ethiopia. Montero had in August entered into a binding agreement with Ethiopia-based Hulager General Import and Export to acquire up to an 80% interest in its... 

True North Gems updates Greenland precious-gem project PFS

By: Henry Lazenby     Updated 4 hours ago Canadian project developer True North Gems has published the positive results of an updated pre-feasibility study (PFS) on the Aappaluttoq ruby and pink sapphire project, in Southwest Greenland, which had showed the project has an after-tax net present value at an 8% discount rate of... 

Vale shares down after reporting Q4 loss, missing analyst forecasts

By: Henry Lazenby     Updated 5 hours ago The NYSE-listed stock of the world’s largest producer of iron-ore, Brazil’s Vale, on Thursday trended lower after the diversified miner reported a significant fourth-quarter net loss, as the collapse the steelmaking commodity’s price weighed on the bottom line. Despite narrowing the net loss for... 

Vale shares down after reporting Q4 loss, missing analyst forecasts

Odisha mines hit classification roadblock towards auction

By: Ajoy K Das Iron-ore mines across the eastern Indian province of Odisha would not be ready for auction for a number of years, despite the federal government’s intentions to start the process by mid-2015. According to a provincial government official, the Mines and Minerals (Development and Regulation)... 

Ausdrill sees silver lining in Australian gold as iron-ore drops

By: Reuters Mine services group Ausdrill Ltd on Thursday said it was counting on a resurgence in Australian gold mining to offset weakness in its iron ore business after it posted a A$177-million ($139.12-million) first-half loss on the back of A$197-million of impairments. Higher output and cheap oil... 

PanTerra to earn into British Columbia gold project

By: Esmarie Swanepoel Gold miner PanTerra Gold has inked a predevelopment and earn-in agreement with Vancouver-based Canarc Resource Corporation, which was expected to lead to the development of the New Polaris gold mine, in British Columbia. PanTerra reported on Thursday that the company would progressively spend... 

PanTerra to earn into British Columbia gold project

Northern Star unveils competing bid for Central Tamani

By: Esmarie Swanepoel Australian gold miner Northern Star Resources this week launched a competing bid to gain a majority interest in the Central Tanami gold project, in the Northern Territory. ASX-listed Tanami Gold on Thursday announced that Northern Star had submitted an unsolicited alternative proposal to a JV... 

Sandfire profit dips on lower copper prices

By: Esmarie Swanepoel Copper/gold miner Sandfire Resources’ after-tax profit declined by 9% to A$30.6-million in the six months to the end of December, on the back of lower prevailing copper prices. The interim profit compared with A$33.5-million reported in the previous corresponding period, despite sales revenue... 

Hillgrove reports strong financials depsite shorter year

By: Esmarie Swanepoel ASX-listed copper miner Hillgrove Resources has reported a 7.5% increase in underlying profit for the full-year ended December, despite only reporting an 11-month year, as the company aligned its financial and calendar years. Underlying profit for the period ended December reached... 

Atrum inches closer to offtake agreements

By: Esmarie Swanepoel Coal developer Atrum has inched closer to a takeoff deal at its Groundhog project, in Canada, signing a memorandum of understanding (MoU) to negotiate binding sales agreements. The MoUs were inked with Japanese firms, including some of the country’s largest corporate conglomerates. 

North American Palladium lifts Lac des Iles reserves and resources

By: Henry Lazenby Canadian palladium producer North American Palladium (NAP) rose almost 19% on Wednesday on the TSX after it reported sizeable increases to both the compliant reserves and resources at its flagship Lac des Iles property, in north-western Ontario. The Toronto-headquartered company reported reserves... 

Specialised refractory materials for Orbite Aluminae plant arrive in Montreal

By: Henry Lazenby TSX-listed Orbite Aluminae, which is currently converting its high-purity alumina (HPA) production plant, at Cap-Chat, in Quebec, into a full-scale, 1 t/d facility, has confirmed that the Europe-sourced components of the new castable material for the plant’s refractory system have arrived in the... 

Lupaka Gold on track to start mining at Invicta by mid-year

By: Henry Lazenby Peru-focused explorer and project developer Lupaka Gold has received its certificate of mining (COM) permit at the Invicta gold project, moving the company a step closer to start production by mid-year. The COM, granted by the Direccion General de Mineria of the Ministry of Energy and Mines... 

Drought in Chile curbs copper production, to trim global surplus

By: Reuters A drought in Chile is hampering copper production, a water-intensive business, in the world's biggest producer of the metal, one more factor that could trim an expected surplus this year. Both Anglo American and BHP Billiton have said the extremely dry conditions have hit production due to... 

Grindrod to invest in Maputo port, RBay coal and Africa rail projects

By: Irma Venter Freight services and shipping group Grindrod would upgrade capacity at its Richards Bay coal and magnetite terminal from 3.2-million tons a year, to 4.5-million tons a year, said Grindrod CEO Alan Olivier on Wednesday. Speaking at the company’s annual results presentation in Johannesburg, he said... 

Grindrod to invest in Maputo port, RBay coal and Africa rail projects

Palabora’s R9.3bn life-of-mine extension project gets shareholder nod

By: Megan van Wyngaardt Shareholders of Palabora Copper, a subsidiary of Palabora Mining Company, have given their approval for the R9.3-billion Lift II project that would extend the life of the Palabora mine to 2033. Lift II would involve a block-cave mine development. 

DRDGold moves to shave 10% off sourced potable water

By: Natasha Odendaal Surface gold miner DRDGold would start using wastewater as an alternative water source to replace some of the potable water currently used for Ergo Mining’s operations from July. Speaking to Mining Weekly Online during a site visit to the East Rand-based Ergo Mine, CEO Niel Pretorius said the... 

DRDGold moves to shave 10% off sourced potable water

DMR to spend R4.1-billion in compliance crackdown

By: Natalie Greve Clamping down on noncompliant mining companies, the Department of Mineral Resources  (DMR) plans to spend some R4.1-billion, or 81.4% of its total budget, on enforcing compliance with legislation and promoting sustainable resource use and management over the current medium-term expenditure... 

DMR to spend R4.1-billion in compliance crackdown

Nene says Eskom to approach Nersa this year, as he outlines R23bn injection plan 

By: Terence Creamer The first installment of an approved R23-billion capital injection for struggling electricity utility Eskom would be made in June, Finance Minister Nhlanhla Nene revealed in his 2015 Budget address. The allocations would be made in two installments, with a special appropriation bill to be tabled... 

Nene says Eskom to approach Nersa this year, as he outlines R23bn injection plan

Village H1 revenue, headline earnings decrease

By: Megan van Wyngaardt JSE-listed Village Main Reef on Wednesday reported that its headline earnings per share (HEPS) from continuing operations had decreased by 63% year-on-year to 145.73c for the six months ended  December 31.  The miner had reported HEPS of 396.22c in the six months to December 2013. 

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