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Glencore shares rise as Rosneft deal wins analyst thumbs-up

By: Martin Creamer     8th December 2016 The share price of diversified mining and marketing company Glencore rose in Johannesburg on the news that the company is in final-stage negotiations to buy 19.5% of Russia’s privatised oil company Rosneft for $11-billion together with the Qatar Investment Authority, which is Glencore’s largest... 

Glencore shares rise as Rosneft deal wins analyst thumbs-up
Photo by Reuters
Russia's president Vladimir Putin with Rosneft CEO Igor Sechin

Local mining industry still in doldrums – economists

By: Megan van Wyngaardt     8th December 2016 South African mining production growth slipped back into negative territory in October, falling 2.9% year-on-year after growing by an upwardly revised 4.7%. This, BNP Paribas Securities economist Jeffrey Schultz explained in a note released Thursday, was evidence that mining activity continued to... 

Local mining industry still in doldrums – economists
Chamber of Mines chief economist Henk Langenhoven

Anglo confronts messy divorce in miner’s South Africa birthplace

By: Bloomberg     8th December 2016 In 1917, Ernest Oppenheimer met with South African general and soon-to-be Prime Minister Jan Smuts to seek his blessing for a new mining company called Anglo American. Smuts wanted one assurance, the company was there for the long haul. Anglo, along with its sister company De Beers, made... 

Anglo confronts messy divorce in miner’s South Africa birthplace

Armadale declares maiden resource estimate at Tanzania graphite project

By: Megan van Wyngaardt     8th December 2016 Aim-listed Armadale has declared a maiden Joint Ore Reserves Committee-compliant inferred mineral resource estimate of 40.9-million tonnes – graded at 9.41% total graphitic content (TGC) – for its 100%-owned Mahenge Liandu graphite project, in Tanzania. At least 32-million tonnes of this resource... 

Gold Road's deal with Gold Fields now unconditional

By: Esmarie Swanepoel     8th December 2016 All conditions precedent to the A$350-million transaction between ASX-listed Gold Road Resources and mining major Gold Fields over the Gruyere project, in Western Australia, have now been met. Gold Road told shareholders on Thursday that the completion of the 50% sale in the Gruyere project to... 

Iluka completes Sierra Rutile merger

By: Esmarie Swanepoel     8th December 2016 ASX-listed Iluka Resources has completed the acquisition of Sierra Rutile for A$375-million. The completion of the merger followed on from German regulatory approval in November and Iluka negating fears over the geotechnical risks at the Sierra Rutile tailings dams, in Sierra Leone. 

Sula historic drill core offers encouraging results for Sierra Leone project

By: Megan van Wyngaardt     8th December 2016 Additional samples taken from an historic drill core at Aim-listed Sula’s Ferensola gold project, in Sierra Leone, have yielded further positive results, with one oxide sample returning an assay of 28.9 g/t gold. In early November 2016, samples were collected from an historic drill core remaining... 

Rio’s CEO wants to buy diamonds, but finding them won’t be easy

By: Bloomberg     Updated 1 hour 14 minutes ago Even for the deepest pockets in the mining industry, diamonds are hard to find. Rio Tinto Group CEO Jean-Sebastien Jacques said this week he’s on the hunt for new diamond mines, but with more than half of the industry controlled by just two companies and new discoveries rare, it’s going to be a... 

Rio’s CEO wants to buy diamonds, but finding them won’t be easy

Lucara tops $1bn in sales since 2012 production start

By: Henry Lazenby     Updated 1 hour 31 minutes ago Southern African diamond miner Lucara Diamond Corp has breached the $1-billion revenue mark for the first time since production at the Boteti Karowe mine, in Botswana, started in June 2012. "Achieving sales of $1-billion is a significant milestone for the company and is a recognition of our... 

Dalradian development stope produces 35% more gold than foresaw in resource model

By: Henry Lazenby     Updated 2 hours 11 minutes ago TSX- and Aim-listed Dalradian Resources has produced 35% more gold from the third test stope at its Curraghinalt gold project in Northern Ireland, than predicted in the June resource estimate. Toronto-based Dalradian explained that third stope is located on the V-75 vein, complementing two... 

Manitok hits new production record

By: Henry Lazenby     Updated 2 hours 46 minutes ago TSX-V-listed Manitok Energy has reached a new production record of 7 100 barrels of oil equivalent (BOE) a day, based on field estimates, surpassing the previous record of 6 500 boe/d achieved in October. Calgary-based Manitok, which focuses on Lithic Glauc (LG) oil reservoirs in southeast... 

MGX inks lithium brine accord with Sturgeon Lake oil & gas operator

By: Henry Lazenby     8th December 2016 Western Canada-focused project developer MGX Minerals has acquired rights to sample and analyse brine waters emitted from the Sturgeon Lake oilfield, in north-western Alberta for metallic mineralisation, the company reported Thursday. Under the agreement, MGX will be able to undertake water... 

Caterpillar will consider retaining jobs in US under Trump

By: Bloomberg     8th December 2016 Under a Donald Trump government, Caterpillar will consider keeping jobs in the US that may have otherwise been shifted abroad, CEO Doug Oberhelman said. Tax changes and other policies proposed by president-elect Trump would help generate more jobs and it’s “reasonable” to think the economy can... 

Iron-ore export duty takes centre stage ahead of India’s national Budget

By: Ajoy K Das     8th December 2016 The iron-ore export duty has moved back to the centre stage in India, with iron-ore miners calling on government to announce a lower export tax when the national Budget is unveiled on February 1. In response to the federal Finance Ministry’s invitation for input from all sectors, iron-ore miners... 

Glencore on nickel and zinc developments  

     8th December 2016 Diversified mining and marketing company Glencore sees a shortage in nickel arising, on the other hand, the company is producing zinc at negative cost. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the developments. 

Glencore on nickel and zinc developments

Coordinated planning approach ‘imperative’ to Australia’s energy future - AEMO

By: Esmarie Swanepoel     8th December 2016 The Australian Energy Market Operator (AEMO) has again highlighted the need for urgent policy reform to secure the nation’s energy future. In its latest National Gas Forecasting Report (NGFR), the AEMO warned of uncertainties and challenges, which will complicate gas demand forecasts for eastern... 

Work starts on Exploring for the Future programme

By: Esmarie Swanepoel     8th December 2016 The Association of Mining and Exploration Companies (AMEC) has welcomed the federal government’s implementation of the A$100-million Exploring for the Future programme, which seeks to boost the productivity and competitiveness of the minerals sector. Resources and Northern Australia Minister... 

Work starts on Exploring for the Future programme

Santos unveils plan to rid itself of noncore assets, slash debt by $1.5bn

By: Esmarie Swanepoel     8th December 2016 Oil and gas major Santos has revealed plans to spin off its noncore assets into a standalone low-cost business as it targets a $1.5-billion debt reduction by the end of 2019. The assets to be spun out include those in Indonesia, Vietnam, Malaysia and Bangladesh, as well as in the Narrabri and... 

Santos unveils plan to rid itself of noncore assets, slash debt by $1.5bn

Continued gas development needed to keep WA market well supplied

By: Esmarie Swanepoel     8th December 2016 Western Australia’s domestic gas market is expected to be well supplied over the next ten years, if gas reserves continue to be developed. “Growth in domestic gas demand is forecast to be a marginal 0.1% over the outlook period, as there are only a handful of large gas consumers that are expected... 

Kingsgate reduces debt ahead of Chatree stop

By: Esmarie Swanepoel     8th December 2016 ASX-listed gold miner Kingsgate Consolidated expects to reduce its total debt position to about A$13-million by the end of the month. The miner said on Thursday that a discretionary payment of $5.2-million had been made against the Chatree loan facility, and a further discretionary payment of... 

Mt Morgan to cost A$85m

By: Esmarie Swanepoel     8th December 2016 The Mount Morgan gold/copper project, in Queensland, will require a capital investment of A$85-million, ASX-listed Carbine Resources has reported. The company on Thursday revealed the results of a feasibility study into the Mt Morgan project. Based on a 1.1-million-tonne throughput rate, the... 

Mt Morgan to cost A$85m

Metro partners up in Myanmar

By: Esmarie Swanepoel     8th December 2016 ASX-listed Metro Mining has signed a farm-in agreement with PanAust over its Mahar San exploration project, in Myanmar. Under the agreement PanAust will have the exclusive option to explore the project for one year, in exchange for funding all operating costs, including an agreed drilling... 

Stars may align for giant Papua New Guinea copper mine

By: Reuters     8th December 2016 After nearly 50 years on the drawing board, the latest backers of Papua New Guinea's $3.6-billion Frieda River copper project say the time may finally be right for the giant mine - even if some hurdles remain. Regarded as one of world's largest untapped copper/gold resources, the deposit has sat... 

UGL urges shareholders to accept Cimic offer

By: Esmarie Swanepoel     8th December 2016 The board of takeover target UGL has advised shareholders to accept the A$3.15 a share cash offer from ASX-listed Cimic, after the company obtained a relevant interest of 77.09%. The UGL board warned that shareholders who did not accept the offer faced becoming minority interest holders in UGL,... 

Lenders flag policy, infrastructure challenges to PNG mines

By: Reuters     8th December 2016 Planned changes to Papua New Guinea's mining laws are creating uncertainty ahead of an upcoming election, despite strong interest in proposed multibillion dollar mining and energy projects in the Pacific nation, lenders and advisers say. The quality of the copper, gold and gas resources in the... 

Sustainable mining strategies top of mind for miners in 2017

By: Creamer Media Reporter      8th December 2016 Mining companies are in a stronger position now than they were at the beginning of the year, as fluctuating commodity prices drive miners’ renewed focus on capital allocation, strategic deal making and employing new technology and innovations in support of creating a more sustainable future, a... 

Santacruz Silver clinches sale of San Felipe project, Mexico

By: Henry Lazenby     8th December 2016 TSX-V-listed junior Santacruz Silver Mining has sold its interest in the San Felipe project, in Sonora, Mexico, to a private domestic firm for $15-million. Under the sale agreement, the buyer will complete the transaction in three tranches comprising $3-million to be paid by Friday; $12-million... 

Teck, Fort Chipewyan Métis ink participation agreement for Frontier oil sands project

By: Henry Lazenby     8th December 2016 Canadian diversified miner Teck Resources has signed a formal participation agreement with the Fort Chipewyan Métis Local 125, identifying several economic benefits while creating opportunities for meaningful engagement and communication with the indigenous group, as the proposed Frontier oil... 

New Brunswick announces plan to phase out coal generation

By: Henry Lazenby     7th December 2016 Canada’s maritime province of New Brunswick is following in the footsteps of the federal government and other provinces such as Alberta and Ontario to phase out or announce plans to completely phase out coal-fired electricity generation by 2030. In its new action plan ‘Transitioning to a... 

New Brunswick announces plan to phase out coal generation

Sarama appoints veteran accountant as CFO

By: Henry Lazenby     7th December 2016 West Africa-focused gold explorer Sarama Resources has appointed 30-year certified practising accountant Lui Evangelista as its CFO, replacing Nick Longmire who has resigned to pursue personal interests. Evangelista brings 30-years’ experience to the position, and president and CEO Andrew Dinning... 

BHP's Escondida copper mine union sees wage talks start by mid-Dec

By: Reuters     7th December 2016 Workers at BHP Billiton-owned Escondida, the world's largest copper mine, expect to present the company with their proposal for a new collective contract and begin wage talks later this month, a union leader for the Chilean mine said on Wednesday. "We expect by mid December to officially present... 

Chile rejects attempt to block modified Barrick mine project

By: Reuters     7th December 2016 Chile has rejected an attempt by local communities to block modifications needed to keep Barrick Gold's controversial Pascua Lama project alive, a resolution by the ministerial committee involved showed on Wednesday. The Pascua Lama gold and silver project, which straddles the border of... 

Chamber of Mines briefs portfolio committee on mining investment in South Africa

By: Anine Kilian     7th December 2016 In light of the challenges faced by South Africa’s mining industry and its contribution to the South African economy, the Chamber of Mines (CoM) of South Africa on Wednesday briefed the Portfolio Committee on Mineral Resources on the mining industry’s investment case . An invitation was extended... 

Mintek reveals new tailings retreatment process   

By: David Oliveira     7th December 2016 State-owned research organisation Mintek on Wednesday demonstrated its Reflaut tailings treatment process at gold miner Gold Fields’ South Deep mine, in Johannesburg. Reflaut, which stands for Retreatment Flowsheet for Au and Uranium Tailings, has been used at South Deep since November and... 

Mintek Minerals Processing division head of flotation Kevin Pillay discusses the organisation’s new Reflaut tailing retreatment process. Camerawork and Editing: Nicholas Boyd.

Platinum fuel cell passes competitive muster at Implats 

By: Martin Creamer     7th December 2016 Impala Platinum Refinery and its partners are in the last phase of financial close for the introduction of 8 MW of off-grid electricity from a platinum-catalysed fuel-cell system that will make use of natural gas from the Sasol grid. “We expect to get close and first flow of funds by March, with... 

Platinum fuel cell passes competitive muster at Implats
Impala Platinum Refining Services Fuel Cell Coordinator Fahmida Smith

Churchill Mining loses arbitration against Indonesia

By: Megan van Wyngaardt     7th December 2016 The International Centre for Settlement of Investment Disputes (ICSID) Tribunal on Wednesday granted Indonesia's application to dismiss Aim-listed Churchill Mining’s claims for damages arising out of the revocation of the mining licences that made up the East Kutai coal project (EKCP) in east... 

Millennials could boost global diamond sales

By: Megan van Wyngaardt     7th December 2016 While the global diamond industry may be poised for a modest rally in 2017, several key headwinds persist, including the need for secure access to financing within the midstream sector, slowing consumption in China and the ongoing threat of synthetics and counterfeit diamonds, according to a... 

Millennials could boost global diamond sales

Lily Mine probe escalated to inquiry

By: SANews, SA government news service     7th December 2016 The Department of Mineral Resources says the investigation into the tragic Lily Mine disaster, which left three mineworkers trapped underground, will be converted into an inquiry. Xolile Mbonambi, the Acting Chief Inspector of Mines, said this when the department appeared before the Portfolio... 

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