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IFM posts marginal production lift in Q2 despite stoppage

By: Natalie Greve     Updated 27 minutes ago International Ferro Metals (IFM) lifted ferrochrome production by a modest 3% to 49 800 t for the quarter ended December 31, despite the issuance of a Section 54 notice in November following a health and safety incident that led to two employees being exposed to carbon monoxide gas. IFM said at... 

First output from Lace mine due in H2 despite AMCU strike

By: Natalie Greve     Updated 1 hour 7 minutes ago DiamondCorp’s developing Lace diamond mine, in the Free State, is likely to come into production in the second half of this year, despite a six-week strike by members of the Association of Mineworkers and Construction Union (AMCU) in October and November. Following the implementation of a revised... 

Lower oil price sees Beach defer projects

By: Esmarie Swanepoel     Updated 1 hour 11 minutes ago ASX-listed Beach Energy on Thursday announced that it would reduce its capital expenditure (capex) during the second half of the 2015 financial year by around 20%, or by about A$55-million. The company told shareholders that it had undertaken a detailed review of its capex programme as a result... 

Low-cost, low-risk development option for Central Murchison – Metals X

By: Esmarie Swanepoel     Updated 1 hour 20 minutes ago A revised feasibility study of ASX-listed Metals X’s Central Murchison gold project, in Western Australia, has delivered encouraging results, with the project now expected to require a less-intensive capital investment and have a longer mine life. The revised feasibility study was undertaken... 

Mining M&A hits 10-year low, deal activity likely to remain subdued

By: Esmarie Swanepoel     Updated 1 hour 30 minutes ago Transaction volumes in the mining and metals sector reached a 10-year low in 2014, with transactions driven by divestments and forced sales in the face of falling commodity prices and risk-averse capital markets. It was fourth consecutive year of declining merger and acquisition (M&A) activity... 

Mining M&A hits 10-year low, deal activity likely to remain subdued

Fortescue lowers H2 cost guidance

By: Esmarie Swanepoel     Updated 2 hours ago Iron-ore major Fortescue Metals has slashed its C1 cash costs during the quarter ended December, prompting the miner to decrease its C1 guidance for the second half of the 2015 financial year. C1 costs during the December quarter averaged $28.48/oz, a decrease of 11% on the previous quarter, and... 

Doray restructured financing to gain hold of cash flow

By: Esmarie Swanepoel     Updated 2 hours 6 minutes ago Gold miner Doray Minerals has agreed to refinance and restructure its project finance facility, allowing the company improved access to cash flow to fund exploration and business development activities. MD Allan Kelly said on Thursday that following discussions with a number of domestic and... 

Stonewall back on the map and producing gold

By: Esmarie Swanepoel     Updated 2 hours 8 minutes ago Stonewall Resources resumed trading on the ASX on Thursday, after months of absence from the exchange, announcing that it secured up to A$13.5-million in funding, and started gold production at its TGME operation, in South Africa. The company said it had started processing pre-mined residue from... 

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