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S African blackouts, soaring Indian imports lift thermal coal prices

By: Reuters     Updated 42 minutes ago Power blackouts in South Africa and soaring Indian imports in anticipation of an El Nino climatic event have pushed thermal coal prices in the Indian and Pacific Ocean basin up since the beginning of May, raising their premium over European cargoes. Prompt cargoes from South Africa's Richards Bay... 

Acacia gets go-ahead for underground mining at North Mara

By: Creamer Media Reporter      Updated 46 minutes ago LSE-listed Acacia Mining has received the final approval from the Tanzanian Vice-President’s Office to start mining at the Gokona underground project, which formed part of the larger North Mara mine. Commercial production at the Gokona underground project was expected to start late in the second... 

Acacia gets go-ahead for underground mining at North Mara

Rio Tinto tipped to stick to no-output cut mantra on iron ore

By: Reuters     Updated 1 hour 14 minutes ago Rio Tinto, the most profitable iron-ore producer, is in a strong position to keep its mines running at full tilt, even as rivals BHP Billiton and Brazil's Vale apply the brakes in a market suffering a supply glut. Despite a plunge in ore prices, Rio Tinto is not expected to face pressure from... 

Indian consortium struggles to find buyer for Benga coal

By: Esmarie Swanepoel     Updated 1 hour 41 minutes ago Fears have been raised that mining consortium Indian Coal Ventures Limited’s (ICVL’s) strategic objective for its Mozambique coal investments was going awry, as production from the Benga mine have now been earmarked for domestic sales, rather than exports to India. According to an ICVL... 

Guinea Bissau reviews contracts from mining to timber – PM

By: Reuters     Updated 2 hours 1 minute ago Guinea Bissau is reviewing contracts signed by previous governments as the West African country seeks to ensure miners have sufficient means to kick-start its $2-billion economy, its prime minister told Reuters. Domingos Simoes Pereira, elected at polls a year ago that sealed a transition back to... 

PanAust blames Gram offer for low share price

By: Esmarie Swanepoel     Updated 2 hours 12 minutes ago Takeover target PanAust on Wednesday blamed a takeover offer from shareholder Guangdong Rising Asset Management (Gram) for the company’s shares remaining fairly stagnant since early April. In a communication to shareholders, PanAust pointed out that the share price of other listed copper miners... 

Phosphate Australia spurns improved offer

By: Esmarie Swanepoel     Updated 2 hours 15 minutes ago The directors of ASX-listed Phosphate Australia have rejected an increased offer from suitor Mercantile Investment, saying the revised offer still undervalued the company. Mercantile on Wednesday upped its offer price for Phosphate Australia shares from 2c each, to 2.2c each. 

Phosphate Australia spurns improved offer

Glencore JV-funded berth boosts Townsville port capacity

By: Esmarie Swanepoel     Updated 2 hours 19 minutes ago Mining major Glencore has secured long-term exports from the Port of Townsville, following the commissioning of the A$85-million Berth 8 facility. Jointly funded by the Port of Townsville, Glencore and Incitec Pivot, the Berth 8 facility delivered two- and-a-half times more shiploading capacity,... 

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