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Uranium Energy’s Paraguay project advances to exploitation phase

By: Henry Lazenby     Updated 1 hour 23 minutes ago One of US uranium producer and project developer Uranium Energy Corp’s (UEC’s) Paraguay projects has advanced from the exploration phase to the exploitation phase, making it only the third project to enter the exploitation phase since the current mining law was promulgated in 2007. The NYSE... 

Alpha Natural loses eligibility for Wyoming’s ‘self-bonding’ programme

By: Henry Lazenby     Updated 1 hour 54 minutes ago US coal producer Alpha Natural Resources had been notified by the Wyoming Department of Environmental Quality's Land Quality Division (LQD) that the LQD believed the company no longer qualified under the ‘self-bonding’ programme in the state, under which Alpha avoided insurance or provisions of... 

Codelco production rises as new mines boost output

By: Reuters     Updated 3 hours ago Codelco, the world's No 1 copper producer, increased output in the first quarter of 2015, compared with a year ago, although a slide in the copper price eroded profits. Codelco produced 394 000 t of copper from its fully owned projects in the first quarter, up 3% from 2014, boosted by new... 

Vale to ship coal along Mozambique Nacala Corridor in Q3 - exec

By: Reuters     Updated 3 hours ago Brazilian miner Vale plans to start exporting coal along the Nacala rail and port corridor in Mozambique and Malawi in the third quarter after heavy rains damaged the rail line, the firm's head of coal told Reuters on Friday. The Moatize mine remains on track to reach a run rate of 11-million... 

Base metals on ‘negative’ watch as low prices, slowing growth stales outlook – Moody’s

By: Henry Lazenby     Updated 3 hours ago Advisory firm Moody’s Investors Service does not expect base metal prices to materially improve over the next 12 to 18 months, saying the basket of metals including copper, zinc and nickel faced downside risks amid an uncertain global economic recovery. In its latest ‘Outlook Update: Global Base... 

True Gold fortifies Karma project team

By: Henry Lazenby     Updated 4 hours ago Canadian project developer True Gold has reinforced its Burkina Faso-based development and operations team that would be responsible for completing construction of the Karma gold mine, as well as subsequent operations and ongoing community and government relations. The TSX-V-listed company last... 

Oakbay narrows FY losses

By: Natasha Odendaal     Updated 7 hours ago Higher gold production and improved grades in the second half of the 2015 financial year led to JSE-listed Oakbay Resources and Energy narrowing its overall losses for the full year by 84%, while its gross and operating profit swung back into the black. Posting its maiden results since listing on... 

Metmar reports positive FY cash generation, despite challenges

By: Megan van Wyngaardt     Updated 7 hours ago Despite a decline in commodity prices, lower demand and persistent low global economic growth, which resulted in deteriorating trading conditions, bulk commodities trader Metmar still achieved positive cash generation of R18.7-million for the financial year ended February 28. “Sinter tolling and... 

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