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First Quantum says Zambia royalties could discourage investment

By: Reuters     Updated 2 minutes ago Zambia's new mining royalty rate could be a "massive disincentive" for future investment if it does not come with some form of capital relief, First Quantum Minerals's president told Reuters on Thursday. President Clive Newall said the miner does not yet know the specifics of the scheme to raise... 

Barrick Gold to suspend Lumwana copper ops after Zambia passes new royalty law

By: Henry Lazenby     Updated 6 hours ago Canada’s Barrick Gold Corp will suspend operations at its Lumwana copper mine, in Zambia’s Northwestern province, after the country enacted legislation that raised the royalty rate on openpit mining operations from 6% to 20%. TSX- and NYSE-listed Barrick, the world’s largest gold producer, said... 

Barrick Gold to suspend Lumwana copper ops after Zambia passes new royalty law
Photo by Barrick Gold
Lumwana, Zambia

Cashless home loans for migrant mineworkers on way – Teba

By: Martin Creamer A system of providing incremental cashless home loans to migrant mineworkers living in distant areas is being implemented. Teba CEO Dr Graham Herbert, who spoke to Mining Weekly Online in the attached video interview on potential improvements to the much-criticised migrant labour system, says... 

Cashless home loans for migrant mineworkers on way – Teba
Photo by Duane Daws
Graham Herbert

Piran produces first tin in Rwanda

By: Esmarie Swanepoel Unlisted Piran Resources has produced its first tin concentrate from the Musha and Ntunga mines, in Rwanda. This initial production was sourced from reprocessing of tailings dumps from previous mining operations. 

Falling coal prices affects Qld budget

By: Esmarie Swanepoel Falling commodity prices have forced the Queensland government to slash nearly a A$1-billion from forecast state revenues for 2014/15. Treasurer Tim Nicholls on Thursday revised the full year revenue from t he previous A$50.1-billion to A$49.1-billion, to reflect the weaker outlook for coal... 

Falling coal prices affects Qld budget

Sword of Damocles hangs over Mintails

By: Esmarie Swanepoel The share price of South Africa-focused gold miner Mintails dropped by nearly 22% on Thursday on news that the company was failing to make its production targets. Mintails told shareholders on Thursday that the company’s openpit operational performance had been impacted by the failure of the... 

Poseidon advances Black Swan buy

By: Esmarie Swanepoel Nickel miner Poseidon Nickel on Thursday extended the expected completion date of the Black Swan operation, from the end of this calendar year until March next year. However, MD and CEO David Singleton said that the extension to the completion deadline would not change Poseidon’s overall... 

KBL turns to Supreme Court in Kidman battle

By: Esmarie Swanepoel The gloves have come off in the battle between ASX-listed KBL Mining and its creditor Kidman Resources, with KBL on Thursday launching legal proceedings against Kidman in the New South Wales Supreme Court. Earlier this month, Kidman issued an event of default on a A$12.6-million debt, which was... 

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