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Buffalo to fight DMR’s retraction of Aviemore mining right

By: Natasha Odendaal As JSE- and TSX-listed Buffalo Coal prepares to contest the Department of Mineral Resources’ (DMR’s) decision to withdraw its Aviemore anthracite mine’s mining right, it is moving to obtain an urgent interdict to ensure the right is not awarded to another company. The South Africa-focused coal... 

Buffalo to fight DMR’s retraction of Aviemore mining right

First Quantum Minerals launches $2.1bn Zambia copper mine

By: Reuters Canada's First Quantum Minerals on Friday launched production at its $2.1-billion copper Sentinel mine which has been under construction since June 2012. The mine would produce 280 000 t/y to 300 000 t/y of copper at full production from one large low-grade ore body containing 0.51% copper, First... 

First Quantum Minerals launches $2.1bn Zambia copper mine

Price, jobs, investment conditions placed on beneficiaries of first round of steel duties

By: Terence Creamer The first applications for protection on several steel products were approved on Friday, with Trade and Industry Minister Dr Rob Davies confirming that duties across eight tariff subheadings would be increased to the World Trade Organisation bound rate of 10%. However, government insisted that... 

Price, jobs, investment conditions placed on beneficiaries of first round of steel duties

TAC, Sonke admitted as friends of court in silicosis case

By: Natasha Odendaal The Treatment Action Campaign (TAC) and Sonke Gender Justice have been given the green light to present evidence against gold mining companies in a potential class action suit by hundreds of thousands of miners who contracted silicosis and tuberculosis (TB) in their line of work. The South... 

Ramatlhodi mired in new mine rights row – newspaper

By: RDM News Wire Aquila Resources‚ a subsidiary of China’s state-owned Baosteel‚ which has had a long-running battle with the Department of Mineral Resources over a manganese deposit‚ is poised to approach the courts to seek a judicial review if a resolution is not reached‚ Business Day reported. If the legal... 

Ramatlhodi mired in new mine rights row – newspaper
Photo by Duane Daws
Mineral Resources Minister Ngoako Ramatlhodi

Eskom awards $25m Limpopo transmission contract to Abengoa

By: Terence Creamer Spanish technology group Abengoa has announced that it has been awarded a $25-million contract by South Africa’s State-owned electricity utility Eskom for the construction of two 400 kV transmission lines spanning 174 km. The company, which is building large-scale concentrated solar power (CSP)... 

Eskom awards $25m Limpopo transmission contract to Abengoa

Atlatsa still uncertain of financial filings date

By: Natasha Odendaal JSE- and TSX-listed Atlatsa Resources remains uncertain as to when it will be able to file its interim financial results, after having missed the System for Electronic Document Analysis and Retrieval and Electronic Data Gathering, Analysis and Retrieval filings deadline two weeks ago. With... 

South Africa's platinum industry 'extremely ill' – Lonmin CEO

By: Reuters Lonmin's CE said on Thursday that 80% of South Africa's platinum production was making a loss and mines were not responding to cash injections from investors. "Many mines in the platinum sector today are extremely ill and have not responded to the one single cure of cash injections," Ben Magara... 

Kenmare’s H1 losses widen

By: Natasha Odendaal London-listed Kenmare Resources reported continued widening losses for the first half of the year as reduced production and a weak market battered its performance. The company, which operates the Mozambique-based Moma titanium minerals mine, on Friday posted an operating loss of $27.2-million for... 

Tiger struggles in interim period

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has swung to a loss in the interim period ended June, despite a 111% increase in revenues. Tiger on Friday reported a net loss after tax of A$5.6-million for the six months under review, compared with a net profit after tax of A$10.3-million in the previous... 

US dollar gold price hits Resolute bottom line

By: Esmarie Swanepoel Despite beating production and cost guidance, gold miner Resolute Mining reported a net loss after tax of A$502.6-million for the 2015 financial year. This was down from a profit of A$33.3-million in the 2014 financial year and came on the back of a A$572-million impairment charge primarily... 

Edikan mine unaffected by illegal miner clashes – Perseus

By: Megan van Wyngaardt Dual-listed gold miner Perseus Mining on Friday said its gold production had been unaffected by clashes between illegal miners and Ghanaian national security forces in the town of Ayanfuri near the company’s Edikan mine. Perseus explained that members of the Ghanaian military were last week... 

De Beers renews R57m Afrox contract

By: Megan van Wyngaardt Diamond miner De Beers Group has renewed gas and welding company Afrox’s R57-million contract for the supply of industrial and medical gases, welding consumables and bulk liquefied petroleum gas for the next five years. The contract came at a time when De Beers was investing R20-billion in... 

De Beers renews R57m Afrox contract

Energizer’s graphite qualifies for next phase of supply chain testing

By: Henry Lazenby Two independent third parties have successfully manufactured spherical graphite from project developer Energizer Resources’ Molo flake graphite concentrate, with initial test results indicating that it has met all specifications and quality requirements for battery anode material production.... 

Cost cuts to hit mining jobs, State revenues in Congo – chamber

By: Reuters Expected cost-cutting by mining companies in Democratic Republic of Congo is likely to lead to layoffs and reduce government revenues amid a sharp decline in metals prices, the chamber of mines said. Falling prices would not affect copper output this year, the chamber said in a report seen by... 

Buffalo Coal appoints new board members

By: Megan van Wyngaardt Dual-listed coal miner Buffalo Coal has appointed Eddie Scholtz and John Wallington to its board, effective September 1, following the resignation of John Dreyer and Michael Price. The board thanked Dreyer and Price for their valued contributions to the company over the past three years, and for... 

AngloGold Ashanti reports fatality

By: Megan van Wyngaardt An AngloGold Ashanti employee was fatally injured following a seismic-related incident at the Mponeng mine, near Carletonville, on Thursday. Senior inspectors of the Department of Mineral Resources and Mponeng mine management conducted an on-site inspection and agreed remedial actions had been... 

New US law a boost for space exploration aspirations

By: Henry Lazenby The US House of Representatives took a firm stance on commercial space exploration when it passed the Space Resources Exploration and Utilisation Act of 2015 (SPACE Act) in May, providing an opportunity for companies to get off the ground and embrace a new era of space pioneering. “I think that... 

New US law a boost for space exploration aspirations

Australian officials threaten to close giant Glencore zinc mine

By: Reuters Glencore Plc's McArthur River zinc mine in Australia could be ordered to close unless it improves its environmental record and increases a financial bond covering rehabilitation of the site, according to government officials. Residents near the zinc mine, one of the world's biggest, have... 

BHP and ExxonMobil to spend A$400m on new pipeline

By: Esmarie Swanepoel Diversified miner BHP Billiton and its joint venture (JV) partner ExxonMobil Australia have agreed to a A$400-million spend to replace a 187-km pipeline in Victoria, which transports crude oil and condensate between the Longford and Long Island Point facilities. ExxonMobil said on Friday that... 

TSX ends higher as energy, mining shares jump

By: Reuters     Updated 1 hour 11 minutes ago Canada's main stock index climbed on Friday, driven by a surge in shares of energy and mining companies rebounding from the brutal sell-off earlier in the week. The benchmark index gained for a fourth straight session and ended the week nearly 3% higher. 

Paladin bides time as uranium market turnaround gets underway

By: Henry Lazenby     Updated 1 hour 17 minutes ago Dual-listed Paladin Energy has narrowed its 2015 after-tax net loss attributable to shareholders, saying it was optimistic about a long-awaited uranium market turnaround getting underway. For the 2015 financial year ended June 30, the Perth, Western Australia-based uranium producer reported a... 

Paladin bides time as uranium market turnaround gets underway

Cerro Grande pares Q3 loss

By: Henry Lazenby     Updated 4 hours ago Chile-focused miner Cerro Grande Mining has slightly narrowed its third-quarter loss despite lower sales and prices being offset somewhat by lower costs. The Canadian firm reported a net loss before income taxes for the period ended June 30, of $1.42-million, compared with a loss of... 

Eldorado, miners take legal action over Greek project

By: Reuters     Updated 5 hours ago Canada's Eldorado Gold and workers at its disputed gold mine project in northern Greece filed a new legal complaint on Friday to overturn a government decision which led to its activities being halted, court officials said. Eldorado's complaint at one of Greece's top courts came after Prime... 

Codelco plans to revise Andina expansion; profit tumbles 30%

By: Reuters     Updated 6 hours ago Codelco, the world's No 1 copper producer, said on Friday it was reworking a plan to expand its key Andina mine in the wake of a falling copper price and protests about the project's possible impact on the environment. The up-to-$7.5-billion expansion of Andina, located in the Andes mountains... 

S Africa's trade Minister imposes steel tariffs with conditions

By: Reuters South Africa will introduce a new 10% customs duty on certain steel products, Trade and Industry Minister Dr Rob Davies said on Friday, aimed at protecting the local manufacturing industry from cheaper Chinese steel imports. Following complaints from ArcelorMittal and SAFAL Steel, Davies approved... 

S Africa's trade Minister imposes steel tariffs with conditions

BHP Billiton still bullish on China

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about BHP Billiton's bullishness on China, as well as the demerged South 32's opportunity to work with Eskom on additional coal supply. 

BHP Billiton still bullish on China

Saracen's record production lifts profits

By: Esmarie Swanepoel Record gold production pushed miner Saracen Mineral Holdings’ net profit after tax up 86% and revenue by 18% in the 2015 financial year. Gold production rose 25% year-on-year to 167 531 oz, generating revenues of A$249.9-million. Net profit after tax increased from A$6-million in 2014 to... 

Ramelius to further lift output

By: Esmarie Swanepoel ASX-listed gold miner Ramelius Resources was targeting gold production of nearly 100 000 oz/y by the second half of 2016, as the development of its Vivien and Kathleen Valley gold mines progressed. Ramelius on Friday reported that the company had sold 88 706 oz of gold in the financial year... 

Atlas shares rise as it reports lower costs

By: Esmarie Swanepoel The share price of iron-ore miner Atlas Iron shot up by 19% on Friday on news of lower costs and increased cash flows. Atlas told shareholders that cash costs during July fell to A$55/t, from the A$66/t reported in the June quarter, as the contractor collaboration agreements implemented at its... 

Atlas shares rise as it reports lower costs

Metals X hedges gold

By: Esmarie Swanepoel ASX-listed Metals X has entered into a hedging programme for 245 000 oz of gold, with scheduled deliveries until September 2018. The gold would be priced at A$1 631.23/oz. 

Rex gets 12-month extension at Hillside

By: Esmarie Swanepoel Copper hopeful Rex Minerals has been granted a 12-month extension to submit its environment protection and rehabilitation programme and its social management plan for the Hillside project, in South Australia. Rex had applied to the South Australian Department of State Development for the... 

Icahn targets struggling miner Freeport-McMoran with 8.5% stake

By: Reuters Activist investor Carl Icahn disclosed an 8.5% stake in miner Freeport-McMoran, saying the company was undervalued and needed to address several corporate governance and capital issues. In a filing with the US Securities and Exchange Commission, the billionaire investor said he intends to speak... 

PDAC welcomes consultation draft to reform Canada’s fragmented capital markets

By: Henry Lazenby The Prospectors and Developers Association of Canada (PDAC) has applauded the release of a revised consultation draft of the Capital Markets Act (CMA) and initial regulations for consultation, labelling it a key milestone in the transition to a cooperative capital markets regulatory system.... 

Freeport-McMoRan again chops 2016 budget, to cut 10% of US jobs

By: Henry Lazenby US-diversified miner Freeport-McMoRan (FCX) on Thursday again laid into its 2016 capital plans, advising that falling copper prices and lower US production levels would result in about 10% of its US jobs being terminated. The Phoenix, Arizona-based miner trimmed its mining budget by 25%, or... 

Goldcorp, Teck to combine Chile projects into massive 50/50 JV

By: Henry Lazenby Gold major Goldcorp and Canadian diversified miner Teck Resources will combine their El Morro and Relincho projects, in Chile, to leverage increased financial returns and dramatically reduce capital expenditure. The miners announced on Thursday that both companies would contribute their separate... 

Goldcorp, Teck to combine Chile projects into massive 50/50 JV
Photo by Goldcorp/Teck Resources
Project Corridor, in Chile, aims to combine the El Morro and Relincho projects.

Moody's sees wider budget deficit for Botswana

By: Reuters Botswana's projected 2.6% budget deficit for the 2015/16 financial year could turn out to be much wider due to the downturn in the diamond market, credit rating agency, Moody's said on Thursday. Diamonds account for almost 40% of Botswana's budgetary revenue and around 85% of exports in dollar... 

Moody's sees wider budget deficit for Botswana

M&R holds line on resources-focused strategy despite commodity meltdown

By: Terence Creamer Engineering and construction group Murray & Roberts (M&R) says it has no intention of shifting its strategy away from the international natural resources market, notwithstanding the prevailing weak climate for commodities and a bleak immediate outlook. Speaking to investors on Thursday, CEO Henry... 

M&R holds line on resources-focused strategy despite commodity meltdown
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