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Aquila Resources to enter proposed ‘transformational’ financing with Orion Mine Finance

By: Henry Lazenby     Updated 38 minutes ago Project developer Aquila Resources has announced that t had entered into an exclusivity agreement with Orion Mine Finance on a multilevel financing transaction that would include a private placement and a silver stream for total funding of $20.75-million. TSX- and Frankfurt-listed Aquila, which... 

Randgold’s Kibali mine making waves in the DRC

By: Henry Lazenby     Updated 1 hour 6 minutes ago Africa-focused gold producer Randgold Resources on Tuesday said the Kibali gold mine, in the Democratic Republic of Congo (DRC) was now well advanced into the second and final phase of development that would take it to full production by 2018. Randgold was developing and operating the mine, which... 

Peabody Energy narrows Q4 loss on lower US, Australian costs

By: Henry Lazenby     Updated 1 hour 47 minutes ago The world’s largest private-sector coal company Peabody Energy has slightly narrowed its fourth-quarter loss, as its efforts to reduce costs in the low-price environment gained traction. The St Louis-based miner, with 27 surface and underground mines across the US and Australia, reported a net... 

Freeport-McMoRan posts significant loss on oil, gas write-downs

By: Henry Lazenby     Updated 2 hours 38 minutes ago Arizona-based copper, gold and oil producer Freeport-McMoRan (FCX) on Tuesday reported a significant fourth-quarter net loss as it booked impairment charges totalling $3.1-billion, or $3 per share, on the carrying values of its oil and gas properties. The diversified miner said it was taking... 

On back of strong 2014, First Quantum disappoints with 2015 outlook

By: Henry Lazenby     Updated 6 hours ago Base metals miner First Quantum Minerals late on Monday reported record copper output during 2014, noting that the current year would see its Zambia operations benefit from increased synergies as its new smelter was being commissioned and its new Sentinel mine started first production during the... 

Mining boosts world’s poorest regions – ICMM

By: Martin Creamer The global mining industry makes its biggest contribution in the world’s poorest regions, an International Council on Mining & Metals (ICMM) study has found. The study, which became available in published form on Tuesday, finds that mining spurs the growth and development of national economies... 

Mining boosts world’s poorest regions – ICMM
Photo by Duane Daws
Anthony Hodge

Amid oil price turmoil, Saldanha zone’s ‘free port’ status punted as key drawcard

By: Terence Creamer The establishment of a customs control area (CCA), or free port, within the newly designated Saldanha Bay Industrial Development Zone (SBIDZ) is being held up as a major drawcard for potential oil and gas services investors into the 330 ha site, situated alongside South Africa’s deepest natural... 

 Amid oil price turmoil, Saldanha zone’s ‘free port’ status punted as key drawcard
Port of Saldanha

Mining companies suffer $70bn in impairment losses – report

A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that... 

Mining companies suffer $70bn in impairment losses – report

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