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South32 bullish on aluminium, manganese, energy coal prospects

By: Mia Breytenbach     Updated 4 hours ago With the price of various commodities having improved during the 2017 financial year, diversified miner South32 remains optimistic about the aluminium, manganese and energy coal sectors for the year ahead. “Manganese led the way [in terms of price increases], and metallurgical coal, energy coal,... 

South32 bullish on aluminium, manganese, energy coal prospects
Photo by Bloomberg
South32 CEO Graham Kerr

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver

By: Terence Creamer     23rd November 2017 Chemicals and energy group Sasol is preparing to sell several assets, including its Canadian shale gas assets, following an overhaul of its corporate strategy, which eschews any further greenfield gas-to-liquids (GTL) investments in favour of smaller acquisitions and projects of between... 

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver
Photo by Duane Daws
Sasol joint CEOs Bongani Nqwababa and Stephen Cornell

NUM signs three-year wage agreement with coal producers

By: Reuters     23rd November 2017 The National Union of Mineworkers (NUM) has agreed a three-year wage agreement with coal producers, averting a sector-wide strike, the union said on Thursday. The union reached the agreement, which varies for each coal producer, after saying last month it would call a strike if wage demands were... 

Way paved for PTM's disposal of platinum mine to Royal Bafokeng

By: Creamer Media Reporter      Updated 3 hours ago TSX-listed Platinum Group Metals (PTM) on Thursday announced that the due diligence and the execution of binding legal agreements to sell Maseve Investment to Royal Bafokeng Platinum (RBPlat) had been concluded. The $74-million deal will see RBPlat pay Maseve an initial $58-million in cash to... 

Tharisa reviews dividend policy on improved performance

By: Natasha Odendaal     Updated 5 hours ago Dual-listed Tharisa is mulling an increase in dividends for the year ended September 30, as well as a change in the dividend policy guiding yearly payouts to shareholders, after reporting expectations of significantly improved earnings for the 2017 financial year. This comes a year after the... 

Gem unearths 202 ct diamond

By: Megan van Wyngaardt     Updated 5 hours ago LSE-listed Gem Diamonds has recovered a high-quality 202 ct, D-colour Type IIa diamond from its Letšeng mine, in Lesotho. This is the seventh diamond of over 100 ct to be recovered from Letšeng this year. Letšeng is believed to be the highest dollar per carat kimberlite diamond mine in the world. 

Four zama zamas dead, 15 others arrested after shootout with police

By: News24Wire      Updated 5 hours ago Four illegal miners have been shot and killed during a shootout with police on an open field in Boksburg, Ekurhuleni, early on Thursday morning. Police said fifteen illegal miners, also known as zama zamas, were arrested. 

Lemur secures State anchor offtaker for Madagascar project

By: Natasha Odendaal     Updated 7 hours ago Aim-listed Bushveld Minerals’ coal and energy subsidiary Lemur has secured a power purchase agreement (PPA) with Madagascar State-owned utility Jiro sy Rano Malagasy (Jirama). Lemur is developing the Imaloto power project, an integrated thermal coal mining and independent power producer (IPP)... 

Bass gears up for first production from Madagascar mine

By: Mariaan Webb     23rd November 2017 ASX-listed Bass Metals is nearing the completion of Stage 1 of the optimisation programme for its Graphmada large flake graphite mine, in Madagascar, and expects its first production next month. In an operational update, Bass CEO Tim McManus reported on Thursday that first production would come... 

Edenville eyes efficiency rally at Rukwa on rising demand

By: Natasha Odendaal     Updated 4 hours ago Aim-listed Edenville Energy is reviewing options to further optimise the efficiency and throughput of its wash plant at the recently commissioned Rukwa coal project, in Tanzania, on expectations of greater demand beyond its planned output of 10 000 t/m. The company started producing washed coal... 

Rainbow Rare Earths output on track, discovers new prospects

By: Natasha Odendaal     Updated 3 hours ago LSE-listed Rainbow Rare Earths is on schedule for first production and sales of rare-earth concentrate from its Gakara rare-earth project, in Burundi, in the fourth quarter of this year. The first shipment is scheduled for the end of this year under a distribution and offtake agreement with... 

Mnangagwa's task to rebuild Zimbabwe economy

By: Bloomberg     Updated 6 hours ago When Emmerson Mnangagwa takes over from Robert Mugabe as Zimbabwe’s President on Friday, he’ll inherit an economic wasteland that will take years and a complete reversal of some of the government’s signature policies to set right. Among Mnangagwa’s key challenges will be to revive an... 

Volkswagen is said to step up bid for cobalt for electric cars

By: Bloomberg     Updated 6 hours ago Volkswagen AG is stepping up its hunt for long-term supplies of battery metals it will need to help power electric cars across its entire range. The top automaker invited producers and traders of cobalt, one of this year’s best-performing metals, for talks at its German headquarters this week,... 

Volkswagen is said to step up bid for cobalt for electric cars

South32 intent on resolving Appin, Cannington challenges

By: Mia Breytenbach     Updated 3 hours ago Having acknowledged challenges at its Australia operations, particularly at the Appin metallurgical coal mine in Illawarra, New South Wales, diversified miner South32’s focus remains on resolving operational challenges and improving operational efficiency. “We had an unacceptable year as we... 

Resources Watch 

     Updated 6 hours ago This week: Afritin targets Africa tin champion title, Namibia project upscaled to commercial production And, South Africa crucial to global chrome supply, Chromium 2017 hears 

Resources Watch

Sibanye creates gold tailings deal with DRDGold 

     Updated 6 hours ago Precious metals company Sibanye-Stillwater and gold tailings retreatment company DRDGold are coming together to create an industry-leading surface mining partnership. Mining Weekly editor Martin Creamer speaks with Creamer Media's Sashnee Moodley about the proposed deal. 

Sibanye creates gold tailings deal with DRDGold

Russian billionaire charged in France with money laundering

By: Bloomberg     23rd November 2017 Suleiman Kerimov, a Russian billionaire and senator, was charged with laundering gains from tax evasion in Nice and prohibited from leaving the region. Kerimov, whose family controls Russia’s biggest gold producer, Polyus PJSC, is required to surrender his passport and post €5-million bail, Nice... 

Coal India steps up logistics to ease short-term shortages

By: Ajoy K Das     23rd November 2017 Faced with dips in production growth and dwindling stocks to bank on, Coal India Limited (CIL) is hoping that a beefed up logistics and distribution solution will ease the clamour for dry fuel among various end-user industries. The miner reckons that increasing volumes transported by road and... 

Exploration supports expanded production at Nullagine

By: Creamer Media Reporter      23rd November 2017 Recent drilling at Millennium Minerals’ Nullagine gold project, in the Pilbara, has returned positive results and supports the company’s plans to deliver a “step-change” in the operation’s production. The ASX-listed company announced on Thursday that drilling had returned positive intercepts... 

MetalsTech cobalt spinout to list next year

By: Mariaan Webb     23rd November 2017 Lithium-focused MetalsTech on Thursday announced the potential spin-out of its cobalt business and said that its subsidiary had secured an option to buy a high-grade cobalt/silver mine in Ontario. MetalsTech, which is headquartered in Western Australia, but has projects in Quebec and Ontario,... 

Pilgangoora on track for commissioning next year

By: Mariaan Webb     23rd November 2017 In the year that has passed between the 2016 and 2017 annual general meetings (AGMs), the market capitalisation of lithium project developer Pilbara Minerals has more than doubled – a feat chairperson Tony Kiernan attributes to the quality of the Pilgangoora project, which is set to start... 

Panoramic hopeful of return to producer status in near future

By: Mariaan Webb     23rd November 2017 The stronger nickel market and a weaker Australian dollar are working in Western Australian firm Panoramic Resources’ favour as it works towards a decision about restarting the Savannah nickel mine, in the East Kimberley. The Savannah mine has been on care and maintenance for a year-and-a-half,... 

Evolution’s Klein expresses concern as young Australians shun mining as career option

By: Mariaan Webb     23rd November 2017 The mining industry has to pull together to make it an attractive career option for young people if the industry is to sustain itself, Evolution Mining chairperson Jake Klein said on Thursday, expressing concern about the low number of mining engineering enrolments and graduates at two Australian... 

Evolution’s Klein expresses concern as young Australians shun mining as career option
Evolution chairperson Jake Klein

Santacruz restarts Veta Grande mill

By: Henry Lazenby     23rd November 2017 TSX-V-listed Santacruz Silver Mining has restarted operations at its Veta Grande mill, located in Zacatecas state, Mexico. The mill had been standing idle since November 3, when the Mexican Environmental Protection Agency halted operations until certain licencing documentation related to the... 

Northern Vertex files PEA on expanded Moss mine plan

By: Henry Lazenby     23rd November 2017 Canadian project developer Northern Vertex has filed a preliminary economic assessment (PEA) with securities regulators examining the merit of building an expanded operation at its 100%-owned Moss gold/silver mine, in Arizona. First published in October, the PEA sets out the technical and... 

Altiplano earns half of Comet JV; starts bulk sample

By: Henry Lazenby     23rd November 2017 Exploration junior Altiplano Minerals has earned a 50% stake in the Comet Joint Venture (CJV) with Comet Exploration, which is conducting exploration on the Farellon and Maria Luisa copper/gold development projects, in Chile. Headed by John Williamson, co-founder of Kaminak Gold, which discovered... 

Altiplano earns half of Comet JV; starts bulk sample
Photo by Altiplano Minerals
Farellon mineralisation, Chile

Mountain Province records higher revenues from 9th diamond tender

By: Henry Lazenby     23rd November 2017 The seventh sale of diamonds produced from Mountain Province Diamonds’ 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, saw the average price of rough stones strengthen, despite a cautious market. The Toronto-headquartered company, which has a 49% stake in the Gahcho Kué mine, in... 

Union at Alcoa Canada aluminum smelter backs strike mandate

By: Reuters     22nd November 2017 Unionised workers at Alcoa's Canadian aluminium smelter in Becancour, Quebec have rejected the company's contract offer and adopted a strike mandate, the United Steelworkers said on Wednesday. The collective agreement for 1 030 unionised workers expires at 11:59 EST Wednesday, after which... 

Brazil lower house okays higher mining royalties, new regulator

By: Reuters     22nd November 2017 Brazil's lower house of Congress on Wednesday passed a bill that would boost royalty rates on iron ore by 75% - instead of doubling the rates as had been proposed - and later voted to approve the creation of a new mining regulator. Under the revised plan, gold mining royalties would rise 50%,... 

Torex sets El Limon Guajes record straight as rival unions clash

By: Henry Lazenby     22nd November 2017 Canadian gold producer Torex Gold Resources has issued a press release criticising a labour union and the media for spreading misinformation regarding an incident over the weekend where two people were killed near its El Limon Guajes (ELG) mine, in Mexico. The Toronto-based company said that an... 

Gold Fields invests R6m to boost mechanised mining skills

By: Nadine James     22nd November 2017 South African gold miner Gold Fields on Wednesday announced a R6-million, three-year partnership with the University of the Witwatersrand (Wits) to further academic knowledge in the field of mechanised mining and rock engineering in South Africa. Gold Fields CEO Nick Holland and Wits... 

Sibanye share price rises on gold tailings deal with DRDGold

By: Martin Creamer     22nd November 2017 The share price of Sibanye-Stillwater rose quickly and sharply on Wednesday on the news that the precious metals company had moved to create an industry-leading surface mining partnership with gold tailings retreatment company DRDGold. The proposed transaction, which saw the share price of... 

Sibanye share price rises on gold tailings deal with DRDGold
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman (left) and DRDGold CEO Niël Pretorius.

Gold miners shifting focus back to growth

By: Megan van Wyngaardt     22nd November 2017 While global gold miners will gradually shift their focus from financial austerity to growth through acquisitions and increased spending, miners operating in sub-Saharan Africa (SSA) will face elevated costs owing to regulatory uncertainty, power shortages and labour unrest, according to... 

Gold miners shifting focus back to growth

Scope of Kerimov's immunity status up to judge to decide upon, says France

By: Reuters     22nd November 2017 The scope of the immunity status accorded to Russian businessman and lawmaker Suleiman Kerimov, who has been arrested in France, is up to the French judge dealing with the matter to decide upon, said the French foreign ministry. Kerimov was arrested by French police at Nice airport on Monday... 

In shadow of Opec's noisy oil cuts, Asia's miners quietly tightened coal supplies

By: Reuters     22nd November 2017 Australian and Indonesian miners have quietly done in the last two years what Opec has been shouting about: tighten coal markets and prop up prices. The informal coal output reductions, unlike the official cuts in place since January led by the Organization of the Petroleum Exporting Countries... 

Metals billionaire to win whether electric cars boom or bust

By: Bloomberg     22nd November 2017 There are two major reasons mining billionaire Vladimir Potanin is within a hair’s breadth of regaining his ranking as Russia’s richest tycoon this year. One is higher prices for nickel used in batteries as metals traders bet electric vehicles are the future of transportation. The other is a... 

Metals billionaire to win whether electric cars boom or bust
Mining billionaire Vladimir Potanin

Indonesia's Antam eyes 162% jump in 2018 nickel ore sales

By: Reuters     22nd November 2017 Indonesia's state-owned diversified miner PT Aneka Tambang Tbk (Antam) is targetting a 162% jump in nickel ore sales next year to 11-million tonnes from an estimated 4.2-million tonnes this year, its CEO said on Wednesday. Of that amount approximately 3.9-million tonnes will be exported while... 

Funding made available to advance Burkina Faso solar project

By: Megan van Wyngaardt     22nd November 2017 The Banque Internationale pour le Commerce, l’Industrie et l’Artisanat du Burkina (BICIAB), a BNP Paribas Group subsidiary, will provide $16.5-million in financing to Eren Renewable Energy for a 15 MW solar power plant that is under construction in Burkina Faso. The funding was granted to... 

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