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Pan African rolling out vibrant internal growth projects 

By: Martin Creamer     21st September 2017 Midtier gold mining company Pan African is rolling out vibrant internal growth projects involving the revival of Evander Mines’ 7 Shaft and the alleviation of congestion at Barberton Mines’ Fairview operation, which will provide the flexibility needed to better exploit what is arguably the... 

Pan African Resources CEO Cobus Loots outlines gold growth projects to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Further investment in Anglo by majority shareholder of Vedanta

By: Martin Creamer     21st September 2017 Vedanta head Anil Agarwal has once again hit the headlines by announcing an intended further personal investment in Anglo American through Volcan Investments, which is the majority shareholder of Vedanta Resources. Volcan announced on Wednesday that it intended investing £1.25-billion to... 

Further investment in Anglo by majority shareholder of Vedanta
Photo by Bloomberg
Vedanta head Anil Agarwal

Mining's biggest mystery is what Agarwal plans to do with Anglo

By: Bloomberg     21st September 2017 As Anglo American’s board met at the lavish Vergelegen wine estate in South Africa yesterday evening as part of a 100-year celebration, executives were blindsided by news headlines: Indian mining tycoon Anil Agarwal was becoming the biggest shareholder. After Anglo’s managers partied to honor the... 

NUM continues strike at Petra’s Finsch mine, to down tools at Koffiefontein after wage deadlock

By: Natasha Odendaal     21st September 2017 The National Union of Mineworkers (NUM) has issued Petra Diamonds with a 48-hour notice for a planned, protected strike at the Koffiefontein mine, in Northern Cape. The union on Thursday said it would withdraw all members from the mine, starting on Saturday morning, until Petra accedes to the... 

Outa moves to freeze Gupta mines’ rehabilitation trust fund accounts

By: Creamer Media Reporter      21st September 2017 The Organisation Undoing Tax Abuse (Outa) plans to bring about an urgent interdict against the Bank of Baroda to freeze the R1.75-billion held in the Gupta-owned Optimum and Koornfontein coal mines’ rehabilitation trust fund accounts. The group on Thursday said in a statement that the interdict... 

Eskom not generating enough cash to cover interest on debt – report

By: Terence Creamer     21st September 2017 A new report analysing Eskom’s financial position warns that the State-owned utility is simply not generating enough cash through operations and electricity sales to cover the interest on its borrowings, which will peak at around R500-billion in the coming three years. However, it also argues... 

Eskom not generating enough cash to cover interest on debt – report

Pallinghurst widens H1 losses

By: Natasha Odendaal     21st September 2017 JSE-listed Pallinghurst Resources expects its losses for the six months to June 30, to widen, owing to decreases in the valuation of the company’s investments. A headline loss a share of $0.10 is anticipated for the half year under review, deteriorating from a headline loss a share of $0.04... 

Tlou submits plans for Botswana power plant

By: Esmarie Swanepoel     21st September 2017 ASX- and Aim-listed Tlou Energy has submitted a proposal to the Botswana Ministry of Mineral Resources, Green Technology and Energy Security to develop up to 100 MW of coalbed methane- (CBM-) fuelled pilot power plants in the African country. The government of Botswana earlier this year requested... 

Syrah raises initial A$75m

By: Esmarie Swanepoel     21st September 2017 Graphite developer Syrah Resources has successfully raised A$74-million of a targeted A$110-million through a share placement and the institutional component of a pro-rata accelerated nonrenounceable entitlement offer. “We are delighted with, and grateful for, the strong level of support shown... 

Roxgold lifts FY guidance 9%

By: Henry Lazenby     21st September 2017 TSX-listed issuer Roxgold has increased its full-year guidance by nearly 9% to a range of between 115 000 oz and 125 000 oz of gold, compared with the previous guidance of 105 000 oz to 115 000 oz. The Toronto-based company, which operates its flagship Yaramoko gold mine, in the Houndé greenstone... 

Zimbabwe's Jan-August gold production rises 10%

By: Reuters     21st September 2017 Zimbabwe's gold production rose 10% in the first eight months of this year to 14.6 t, buoyed by higher output from small and informal producers, official data showed on Thursday. Gold is Zimbabwe's single largest mineral export. 

Johnson Matthey to invest £200m in battery material technology

By: Reuters     21st September 2017 Johnson Matthey said it will invest an initial £200-million in expanding its battery material technology business from 2018, aiming to capitalise on growth in the electric vehicle market. The specialty chemicals company said the overall market "could be (worth) more than $30-billion (in) sales... 

ICE delays takeover of London's silver benchmark to October 2

By: Reuters     21st September 2017 ICE Benchmark Administration, a unit of Intercontinental Exchange (ICE), will take over as operator of London's silver benchmark on October 2, a week later than planned, the exchange said on Thursday. Two current participants in the benchmark, Swiss bank UBS and China Construction Bank (CCB), are... 

Brazil miner Votorantim Metais files for New York, Toronto IPO

By: Reuters     Updated 4 hours ago Brazil-based mining company Votorantim Metais Holding filed on Thursday for an initial public offering in New York and Toronto, according to a securities filing, which did not signal the pricing or total fundraising expected. Proceeds from the offering would go entirely to the controlling... 

Eldorado calls off threat to shutter Greek development projects as relations thaw

By: Henry Lazenby     Updated 5 hours ago Canadian gold producer Eldorado Gold reports that icy relations with the leftist Greek government is on the mend, and it has temporarily postponed its threats to mothball development of the Kasandra Mines assets in Halkidiki, Northern Greece. The Vancouver-based company said on Thursday that it... 

Resources Watch  

     21st September 2017 Metso showcases ongoing commitment to servicing South African mining sector; and, systems water intensive, but more efficient and environment friendly 

Resources Watch

Kallak shows jobs, revenue potential – Beowulf

By: Natasha Odendaal     21st September 2017 Aim-listed Beowulf Mining on Thursday said the development of its Kallak magnetite iron-ore project, in Sweden, into a mining operation will create direct and indirect jobs, increase tax revenues and slow down population decline in the nearby town of Jokkmokk. A socioeconomic study, initiated by... 

Red 5 warns of further impairments

By: Esmarie Swanepoel     21st September 2017 Gold miner Red 5 has warned of a noncash impairment of between A$28-million and A$30-million on the carrying value of its Siana gold project, in the Philippines. The impairment charge expected to be recorded in the June year-end will be in addition to the A$70.4-million expense recorded in the... 

Red 5 warns of further impairments

Kyrgyzstan awards Chaarat permits for Tulkubash heap leach project

By: Mariaan Webb     21st September 2017 Aim-quoted Chaarat Gold has received all necessary approvals to bring its Tulkubash heap-leach project, in Kyrgyzstan, into production in 2019, the company announced on Thursday. This follows the State Committee of Energy, Industry and Subsoil Use’s (SCEIS’s) approval of Chaarat’s technical... 

Kyrgyzstan awards Chaarat permits for Tulkubash heap leach project

China's NDRC says coal mines must not close to avoid inspections

By: Reuters     21st September 2017 China's National Development and Reform Commission (NDRC) on Thursday warned coal miners not to temporarily close to avoid inspections as the country's top economic planner works to stabilize prices amid the environmental and safety checks. In a statement on its website, NDRC also said railway... 

The graphite fix: Inside China's newest commodity addiction

By: Reuters     21st September 2017 China's aggressive environmental protection campaign has tightened supplies of graphite electrodes used in steelmaking, boosting the fortunes of big producers like Fangda Carbon as mills search far and wide for a material now in short supply. Beijing's campaign for clearer skies has closed... 

Ulysses feasibility study under way

By: Esmarie Swanepoel     21st September 2017 Gold hopeful Genesis Minerals has launched a feasibility study on an underground mining operation at its Ulysses project, in Western Australia, with the hopes of starting underground mining in the second quarter of 2018. The company said on Thursday that an internal scoping study had... 

Copper Hill value increases - Golden Cross

By: Esmarie Swanepoel     21st September 2017 An independent valuation by GEOS Mining has found that the Copper Hill copper-gold project, in New South Wales, was worth an estimated preferred A$14.4-million. Project owner Golden Cross Resources said on Thursday that the project’s worth had been estimated at between A$7.6-million and... 

Longford buys US company

By: Esmarie Swanepoel     21st September 2017 ASX-listed junior Longford Resources has moved to acquire two cobalt/copper projects, in the US. The company on Thursday announced that it would acquire US-based Liaz, which holds the Colsons copper/cobalt project in Idaho, and the Goodsprings copper/cobalt project in Nevada. 

Miner Hochschild on hunt for acquisitions – executive

By: Reuters     21st September 2017 London-based precious metals miner Hochschild Mining is looking for opportunities to grow through acquisitions of early-stage projects, the chief executive said on Wednesday. Speaking during a presentation at the mining convention Perumin, in southern Peru, Ignacio Bustamante added that the... 

PotashRidge to spin out Quebec assets; Encanto secures C$100m for Muskowekwan work

By: Henry Lazenby     21st September 2017 Despite a potash glut, junior project developers are making steady progress developing the next generation of mines that will provide plant nutrients needed to cater for exploding food demand across the globe. TSX-listed PotashRidge announced on Wednesday that it would spin out its Quebec assets... 

Angkor, Renaissance get Cambodian approval to proceed with Koan Nheak exploration

By: Henry Lazenby     20th September 2017 TSX-V-listed Angkor Gold has, together with its joint venture partner Renaissance Minerals, received approval from the Cambodian Ministry of Mines and Energy to proceed with their joint exploration plans of Koan Nheak under a definitive earn-in agreement signed in July. Renaissance is a Cambodian... 

PotashCorp curtails some capacity; Mosaic flags Irma disruption

By: Henry Lazenby     20th September 2017 Canada’s largest potash producer PotashCorp of Saskatchewan said on Wednesday it would curtail some capacity to balance its supply with market demand. Saskatoon, Saskatchewan-based PotashCorp said it would fully rely on its lowest-cost Rocanville operations, while the Allan operation would... 

PotashCorp curtails some capacity; Mosaic flags Irma disruption

Integra seizes precious metals opportunity in Idaho

By: Henry Lazenby     20th September 2017 Mere months after Integra Gold was bought out in a deal worth about C$590-million by Eldorado Gold, essentially the same team – reincarnated as Integra Resources – has reached agreement with major Kinross Gold to buy the DeLamar gold/silver mine, in Southern Idaho. The C$7.5-million... 

H1 2017 shows world refined copper deficit of 75 000 t

By: Henry Lazenby     20th September 2017 The world’s refined copper balance for the first half of 2017 indicates a deficit of around 75 000 t, including revisions to data previously presented, the Lisbon-based International Copper Study Group revealed on Wednesday. This is mainly owing to stagnant growth in the world refined copper... 

H1 2017 shows world refined copper deficit of 75 000 t

Endeavour board OKs Ity CIL expansion in Cote d'Ivoire

By: Henry Lazenby     20th September 2017 West African gold producer Endeavour Mining has given the $412-million Ity carbon-in-leach (CIL) project, in Cote d'Ivoire, the go-ahead, adding about 235 000 oz/y over the first five years to Endeavour’s current production profile of between 600 000 oz and 640 000 oz this year, at lower costs.... 

Endeavour board OKs Ity CIL expansion in Cote d'Ivoire
Photo by Endeavour Mining
Endeavour Mining's Ity mine, in Cote d'Ivoire

Third of Pan African gold from low-cost, low-risk surface tailings 

By: Martin Creamer     20th September 2017 More than a third of the yearly gold production of Pan African Resources is destined to arise from low-cost, low-risk tailings businesses, which have long lives ahead of them. Pan African CEO Cobus Loots told investors, analysts and journalists at the company’s presentation of financial results... 

Pan African Resources CEO Cobus Loots at the financial results presentation covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer 20.09.2017

Brown receives outstanding information on Eskom’s relationship with Gupta-linked Trillian

By: African News Agency      20th September 2017 Public Enterprises Minister Lynne Brown has received answers from Eskom to outstanding questions about its relationship with Trillian, a Gupta-linked company, her office said on Wednesday. “Minister Brown last night received Eskom’s responses to her queries. She noted  progress and Eskom will... 

Tanzania President orders wall built around tanzanite mines, says govt will start buying stones

By: Reuters     20th September 2017 Tanzania's President on Friday ordered the military to build walls around its tanzanite mines and directed the central bank to buy the precious stone to boost reserves – the latest twist in a spat with mining firms over alleged tax evasion. "All tanzanite gemstones will be controlled and will... 

Stellar Diamonds seeks to fund first post-Ebola mine in Sierra Leone

By: Reuters     20th September 2017 Stellar Diamonds, a London-listed small-cap, is seeking funding for a $45-million diamond project in Sierra Leone it says will be the first major mining project since the Ebola crisis rocked the country's economy. Diamonds and other forms of mining are central to an economy hard hit by the 2015... 

‘Rebasing’ for lower Eskom sales to trigger 9.4% hike even before any revenue adjustment 

By: Terence Creamer     20th September 2017 State-owned electricity utility Eskom has sounded that warning that, even if its allowable revenue is not increased at all for the 2018/19 year, tariffs will still need to rise by 9.4% simply to accommodate a “rebasing” electricity sales volumes when compared with those approved in the third... 

‘Rebasing’ for lower Eskom sales to trigger 9.4% hike even before any revenue adjustment

Poland not planning changes in sectoral taxes, VAT for now - deputy PM

By: Reuters     20th September 2017 Poland is currently not planning to introduce changes in sectoral taxes on banks and the mining sector as well as in the value added tax (VAT), Deputy Prime Minister Mateusz Morawiecki said on Wednesday. "For now, we are not planning changes in sectoral taxes. We are also not planning changes... 

Sasol proposes new R21bn BBBEE ownership transaction 

By: Anine Kilian     20th September 2017 JSE-listed Sasol on Wednesday announced a proposed new R21-billion broad-based black economic empowerment (BBBEE) ownership transaction, Sasol Khanyisa, which will replace Sasol’s debt-ridden Sasol Inzalo fund, which expires in June 2018. When Sasol Inzalo lapses, it will not be able to... 

Sasol joint president and CEO Stephen Cornell talks about the lessons learned from the Sasol Inzalo transaction and how the proposed new Sasol Khanyisa transaction will be different. Video and editing: Nicholas Boyd.

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Pan African rolling out vibrant internal growth projects

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