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Latest News

Fortescue lowers H2 cost guidance

By: Esmarie Swanepoel     Updated 32 minutes 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 38 minutes ago Gold miner Doray Minerals has agreed to a refinancing and restructure of its project facility, allowing the company improved access to cash flow to fund exploration and business development activities. MD Allan Kelly told shareholders on Thursday that following discussions with a number of... 

Stonewall back on the map and producing gold

By: Esmarie Swanepoel     Updated 40 minutes ago ASX-listed Stonewall Resources resumed trading on Thursday, after months of absence from the ASX, 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 told shareholders that it has started processing... 

Northern Star weighing capital options

By: Esmarie Swanepoel     Updated 43 minutes ago Gold miner Northern Star Resources’ focus would shift to capital management in the next quarter, MD Bill Beament said in a conference call on Thursday. Beament pointed out that bank debt had decreased to A$35-million at the end of the quarter ended December, with Northern Star planning to fully... 

Duketon doubles resource estimate in WA

By: Esmarie Swanepoel     Updated 46 minutes ago Junior Duketon Mining has more than doubled the mineral resource estimate at its namesake project in Western Australia, announcing on Thursday that the Duketon project was now estimated to host some 71 000 t of nickel, 26000 t of copper and 144 000 oz of platinum and palladium. The 115% increase... 

Troy nearing completion at Andorinhas

By: Esmarie Swanepoel     Updated 50 minutes ago Dual-listed gold miner Troy Resources was bracing for a busy six months, as the company closed its Andorinhas mine in Brazil, and rapidly developed it Karouni mine, in Guyana. The underground mine at Andorinhas would start preparing for its closure in February, and Troy said on Thursday that the... 

India revives sovereign fund for overseas fertilisers

By: Ajoy K Das     Updated 54 minutes ago With India’s foreign exchange reserves touching an all-time high of $322-billion, the country’s Department of Fertilisers has revived a three-year-old proposal to create a sovereign fund for acquisition of mineral assets overseas. An official said that the proposal was still at a nascent stage... 

WCC advances Eskom talks, export coal project

By: Natalie Greve     Updated 56 minutes ago Coal producer, the Waterberg Coal Company (WCC), and energy utility Eskom remain in discussions to resolve the “outstanding requirements” to convert the Waterberg coal project’s (WCP’s) offtake memorandum of understanding into a coal supply agreement (CSA). The outstanding requirements included... 

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