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Stellar reports higher Tongo Dyke-1 reserves, diamond grade

By: Leandi Kolver     Updated 37 minutes ago Aim-listed Stellar Diamonds on Friday announced a 35% increase in the Joint Ore Reserves Committee- (Jorc-) compliant inferred resource for its 100%-owned Tongo kimberlite Dyke-1 project, in Sierra Leone. The project’s Jorc-compliant inferred resource now stood at 1.45-million carats, with bulk... 

Burkina Faso's transitional government to review mine permits

By: Reuters     Updated 1 hour 48 minutes ago Burkina Faso's transitional government will review some mine contracts signed under former President Blaise Compaore, responding to concerns that exploration permits were granted in opaque conditions, new mines minister Colonel Boubacar Ba said. Gold is the West African nation's top commodity and... 

Glencore’s new low-cost Tweefontein coal mine coming in below budget

By: Martin Creamer     Updated 2 hours 7 minutes ago The new coal emerging from Glencore’s on-time, 85%-complete, R8.213-billion Tweefontein Optimisation Project (TOP) is coming in under budget. The project has delivered a low-cost, long-life brownfields expansion that has elevated Tweefontein into a modern, predominantly opencast operation that... 

Glencore’s new low-cost Tweefontein coal mine coming in below budget
Photo by Duane Daws
Allen Butcher and Martin Creamer on site at Tweefontein.

Osisko closes C$100m credit facility

By: Leandi Kolver     Updated 2 hours 9 minutes ago Gold-focused royalty and stream company Osisko Gold Royalties has closed its C$100-million revolving credit facility with the National Bank of Canada. The credit facility, which could be increased by C$50-million at Osisko’s request, would be used for investments in the mineral industry,... 

TVIRD enters into C$2m finance negotiations with Mindoro

By: Leandi Kolver     Updated 2 hours 13 minutes ago The Philippine affiliate of resource company TVI Pacific, TVI Resource Development (TVIRD), on Thursday announced that it was in negotiations to provide its joint venture partner in the Agata Mining Venture, Mindoro Resources, with C$2-million in convertible debenture financing. The financing... 

Fortescue halves capex for 2015

By: Esmarie Swanepoel     Updated 2 hours 41 minutes ago Iron-ore major Fortescue Metals has halved its capital expenditure (capex) expectations for the 2015 financial year from $1.3-billion to $650-million. The miner said on Friday that the reduction in planned capex spend for 2015 was consistent with Fortescue’s ongoing focus on delivering... 

QRC analysis shows how mining provides A$77bn boost to Qld economy

By: Esmarie Swanepoel     Updated 2 hours 45 minutes ago The resources sector in Queensland added an estimated A$77.6-billion to the state’s economy in 2013/14, the Queensland Resources Council (QRC) reported on Friday. Revealing an analysis of spending in the resources sector, QRC CEO Michael Roche noted that despite challenges in the commodity... 

India reports increase in monazite reserves

By: Ajoy K Das     Updated 2 hours 47 minutes ago The Indian government has reported an increase in the country’s monazite reserves. According to official data, India’s monazite reserves have gone up by 1.25-million tonnes to 11.93-million tonnes, following exploration and assessments carried out by Geological Survey of India between 2009 and... 

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