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Glencore commits to migrating first world safety to third world countries

By: Martin Creamer     Updated 3 hours ago Diversified major Glencore, which reported 16 fatalities last year, has committed itself to migrating first-world safety practices into challenging geographies where more than 80% of the deaths took place. The London-, Hong Kong- and Johannesburg-listed company’s SafeWork programme – in which 118... 

Glencore commits to migrating first world safety to third world countries
Photo by Duane Daws
Ivan Glasenberg

TFR confident of settling take-or-pay deals with 36 coal exporters despite Glencore’s reservations

By: Terence Creamer     Updated 3 hours ago South Africa’s State-owned railways utility Transnet Freight Rail (TFR) says it remains confident of concluding take-or-pay contracts with 36 coal-line customers before the end of its financial year, which concludes on March 31. Spokesperson Sandile Simelane tells Engineering News Online that TFR... 

 TFR confident of settling take-or-pay deals with 36 coal exporters despite Glencore’s reservations

Africa ready to break the paradox of being primary, yet poorest, mining location

By: Henry Lazenby Despite the commodity price collapse, Africa was ready to participate as a host continent to the global mineral extraction industry, South African Mineral Resources Minister Advocate Ngoako Ramatlhodi told the Canada-Southern Africa Chamber of Business's sixteenth Annual African Mining Breakfast... 

Africa ready to break the paradox of being primary, yet poorest, mining location
Photo by Duane Daws
Mineral Resources Minister Ngoako Ramatlhodi

Canada strikes more than 10 African foreign investment promotion, protection accords

By: Henry Lazenby Canada has concluded foreign investment promotion and protection agreements with more than ten countries in Africa, improving the confidence and protection Canadian companies need to invest abroad. Canada’s International Trade Minister Ed Fast, accompanied by ministerial colleagues from African... 

Canada strikes more than 10 African foreign investment promotion, protection accords
Photo by Foreign Affairs, Trade and Development Canada
The African mining delegation closes the TSX on Tuesday.

Zinc market to reach ‘pinch point’ in 2016/17 as mine closures outweigh new output

By: Henry Lazenby Profit margins for zinc miners will probably rise strongly over the next five years, boosted by expected price increases on the back of a widening supply deficit. According to advisory firm Wood Mackenzie (Woodmac) analyst Jonathan Leng, the next two years, 2016 and 2017, represented the “pinch... 

South Boulder publishes PFS for Eritrea potash project

By: Esmarie Swanepoel The prefeasibility study (PFS) into the Colluli potash project, in Eritrea, has estimated that the project would require an initial investment of some $442-million. The PFS examined a two-module development with an expected production of 425 000 t/y sulphate potash for the first five years of... 

Sale of Richland’s Tanzanian assets concluded

By: Creamer Media Reporter      Updated 7 hours ago Aim-listed Richland Resources this week closed the sale of its tanzanite mining, beneficiation and tsavorite licence interests in Tanzania to Sky Associates for $5.1-million. The gemstone miner announced in November 2014 that it would exit Tanzania to focus on its sapphire operation in Australia,... 

BME launches narrow-reef emulsion site at Amplats’ Tumela mine

By: Ilan Solomons     Updated 3 hours ago Explosives company BME officially opened its first narrow-reef emulsion site and training centre at platinum miner Anglo American Platinum’s (Amplats’) Tumela underground mine in Thabazimbi, Limpopo on Wednesday. Tumela mine production manager Pierre Prinsloo said the bulk emulsions system was... 

Guinea bets on mining for post-Ebola economic recovery

By: Reuters     Updated 7 hours ago Guinea's economy is likely to take a $2-billion hit from a regional Ebola outbreak that has killed nearly 10 000 people, and the country is relying on mining to drive growth once the virus is contained, the finance minister said. Guinea is the world's top exporter of the aluminium ore bauxite and... 

Guinea bets on mining for post-Ebola economic recovery

Western Australia no longer world's best mining destination

By: Esmarie Swanepoel Western Australia is no longer the world’s top jurisdiction for mining investment, the latest survey by Canada’s Fraser Institute has shown. Moving up three spots in the survey’s investment attractiveness index, Finland is now considered the best address for mining and exploration investment.... 

Mariola thermal coal study proves up for Balamara

By: Esmarie Swanepoel ASX-listed Balamara Resources on Wednesday reported that the prefeasibility study (PFS) into its Mariola thermal coal project, in Poland, had demonstrated robust economics. Based on a maiden reserve of 39.5-million tonnes, the project was expected to produce some 2.7-million tonnes a year over a... 

Talga to build graphene pilot plant in Germany

By: Esmarie Swanepoel Graphite hopeful Talga Resources would spend A$1-million to construct a graphene demonstration plant in central Germany. The plant would produce between 100 t/y and 200 t/y of graphene, with feedstock sourced from Talga’s Swedish projects. 

Chesser sells another Turkish asset

By: Esmarie Swanepoel ASX-listed junior Chesser Resources on Wednesday confirmed that it had executed a legally binding agreement with joint venture partner Eurasian Minerals to sell its 51% stake in the Sisorta gold project, in Turkey. Under the agreement, Chesser would give full ownership of Sisorta to Eurasian for... 

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Big Four squeeze gathers pace as more iron-ore flows into saturated market – CRU

By: Simon Rees     Updated 5 hours ago Iron-ore prices will remain in the doldrums for 2015 as senior producers continue to bring new, low-cost output into the market, CRU group director of multi-commodity, knowledge and information Paul Robinson told an audience at the Prospectors & Developers Association of Canada. Stemming from... 

Big Four squeeze gathers pace as more iron-ore flows into saturated market – CRU

After mini boom, Australia coal prices come down to earth

By: Reuters A rally in Australian coal prices has fizzled almost as quickly as it started, brought down to earth by oversupply and weakening Chinese demand, setting the stage for lower annual price agreements with Japanese utilities. 

Senate passes incentive to encourage greenfield exploration

By: Esmarie Swanepoel The Australian resources sector has welcomed the passing of the exploration development incentive (EDI) through the Senate. The federal government last year announced a budget of A$100-million over the next three years to fund the EDI, to support junior exploration companies conducting... 

Senate passes incentive to encourage greenfield exploration

NSW cancels two CSG exploration licences as part of gas reform

By: Esmarie Swanepoel New South Wales Resources and Energy Minister Anthony Roberts on Wednesday announced the cancellation of two petroleum exploration licences for coal seam gas (CSG) held by independent explorer Pangaea, following a buyback. The first of the licences covered about one-million hectares north of... 

Bengalla coal mine extension approved

By: Esmarie Swanepoel The New South Wales government has granted a new development consent that would allow the Bengalla coal mine to continue mining until 2038. ASX-listed Wesfarmers, which is a 40% owner in the operation with Rio Tinto subsidiary Coal & Allied, the majority partner, said on Wednesday that the new... 

LNG eyes dual listing in US

By: Esmarie Swanepoel The board of ASX-listed Liquefied Natural Gas (LNG) has taken the decision to list on an "appropriate" US exchange once it nears construction of its Magnolia LNG project, in the US. The company said on Wednesday that the decision to dual list resulted from a review of options submitted by five... 

ColdBlock to launch 'digestion' technology despite facing hurdles

By: Reuters Canadian start-up ColdBlock Technologies will launch its new 'digestion' technology on Wednesday that cuts the time to test mineral samples to minutes from hours, innovation experts say is long overdue in a mining industry often resistant to change. ColdBlock, which did development work with the... 

Imperial Mines starts trucking concentrate from Red Chris

By: Henry Lazenby British Columbia-focused base metals producer Imperial Metals has started trucking copper concentrate from the $500-million Red Chris mine, south of Dease Lake in the traditional territory of the Tahltan First Nation. The TSX-listed miner, which also operated the ill-fated Mount Polley mine, said... 

Ucore Rare Metals secures rights to novel REE separation technology

By: Henry Lazenby Alaska-focused rare earths project developer Ucore Rare Metals on Tuesday showed off the first high-purity dysprosium concentrate ever produced in the US, with US-sourced feedstock. The company also announced that it had secured the rights to a new minerals separation technology that had... 

Ucore Rare Metals secures rights to novel REE separation technology

Brazil’s ambassador to Canada calls for greater trade between the two natural resource giants

By: Simon Rees Brazil seeks to boost the level of bilateral trade with Canada, particularly in the sphere of mining, the country’s ambassador to Canada Pedro Fernando Brêtas Bastos told audience members at the Brazil-Canada Chamber of Commerce mining breakfast on Monday. The level of bilateral trade between... 

African Minerals' lender takes control of iron ore project holding companies

By: Reuters African Minerals said its lender has taken control of two holding companies that own a majority stake in the companies that operate its sole project, the Tonkolili iron-ore mine in Sierra Leone. The miner said on Tuesday it is seeking legal advice on the move by Shandong Steel Hong Kong Zengli. 

Zambia finmin says kwacha will recover this year

By: Reuters Zambia's kwacha currency will recover this year due to an increase in the price of the copper and steps by the central bank to preserve foreign exchange reserves, the finance minister said on Tuesday. "The hard currency earnings will improve as the fiscal year progresses, especially from the... 

BNC closes $20m bond, progresses smelter restart plans

Aim-listed Mwana Africa’s 74.73%-owned subsidiary Bindura Nickel Corporation (BNC) has successfully closed a $20-million bond to buy new equipment for its smelter, in Zimbabwe. BNC was planning to reopen the smelter by December.  

Eqstra not selling contract mining business – yet

By: Irma Venter Eqstra Holdings was going to reduce its exposure to contract mining, but it was not yet ready to sell the troubled business, said CEO Walter Hill on Tuesday. He said Eqstra would not sell its contract mining business in a “depressed market”. He said it would be prudent to first make the business... 

Eqstra not selling contract mining business – yet
Photo by Duane Daws
Walter Hill

RBPlat chalks up FY output, revenue gains to stable labour relations, cost conservatism

By: Natalie Greve Despite a year in which the platinum industry battled extended strikes and a fractious labour relations environment, black-owned Royal Bafokeng Platinum (RBPlat) CEO Steve Phiri said he was “cautiously satisfied” with the company’s 2014 results, attributing revenue, production and earnings gains... 

Glencore transitioning into deficit in most commodities – Glasenberg

By: Martin Creamer Diversified major Glencore was transitioning into deficit in most of the commodities it produced, CEO Ivan Glasenberg said on Tuesday. Glasenberg, who has presided over returning $9.3-billion to shareholders in dividends and buybacks since 2011, told analysts and media in teleconferences in which... 

Glencore transitioning into deficit in most commodities – Glasenberg
Photo by Duane Daws
Ivan Glasenberg

Gold Fields could spend up to $500m for working mine

By: Reuters South African bullion producer Gold Fields can afford to spend $300-million and $500-million on an acquisition but is only interested in working mines, its chief executive said. Nick Holland told the Reuters Africa Investment Summit on Tuesday the bulk of mines that fell into that category were... 

Merafe in good position to meet increased ferrochrome demand – Matlala

By: Tracy Hancock JSE-listed Merafe Resources “remains excited” about the industry as its mix of energy efficient technology and the recent addition of Lion II allows the ferrochrome producer to capitalise on projected growth in ferrochrome demand. CEO Zanele Matlala advised in a conference call on Tuesday that... 

Merafe in good position to meet increased ferrochrome demand – Matlala
Photo by Duane Daws
Merafe CEO Zanele Matlala

Khulubuse Zuma loses Aurora court bid

By: Sapa An urgent application by Khulubuse Zuma to have claims of over R1.5-billion against Aurora Empowerment Systems set aside, was dismissed by the High Court in Pretoria on Tuesday. "The application is dismissed with costs," Judge Eberhardt Bertelsmann said. 

Marketing hoists Glencore over low commodity price hurdle

By: Martin Creamer Diversified major Glencore has managed to scale the low commodity price hurdle with significant help from its marketing arm. The London- Hong Kong- and Johannesburg-listed company, which produces and markets 93 commodities, went against the grain with its surging agricultural business yielding... 

Marketing hoists Glencore over low commodity price hurdle
Ivan Glasenberg

Mongolia ordered to pay $100m for expropriating uranium asset

By: Reuters Mongolia has been ordered to pay about $100-million to Canada-based Khan Resources Inc as compensation for cancelling its uranium licences in a long-awaited decision from an international tribunal. Khan Resources took Mongolia to international arbitration four years ago after the government... 

India to shift to new licensing regime for oil, gas blocks

By: Ajoy K Das India is likely to shift to a new oil and gas exploration and production licensing regime as the auction process adopted fails to live up to expectations. The New Exploration and Licensing Policy’s (NELP's) tenth round would be the last under which the government had already earmarked 42 blocks... 

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