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Sibanye to acquire US platinum miner for R30bn

By: Martin Creamer     Updated 2 hours 44 minutes ago Precious metals mining company Sibanye Gold has entered into a definitive agreement to acquire all of the outstanding common stock of Stillwater Mining Company of the US for R30-billion ($2.2-billion). The $18-a-share offer represents a premium of 23% to Stillwater’s prior day closing share... 

Sibanye to acquire US platinum miner for R30bn
Photo by Duane Daws
Sibanye CEO Neal Froneman

Implats selling chrome interest

     Updated 2 hours 9 minutes ago Platinum mining company Impala Platinum (Implats) is disposing of its 65% interest in Impala Chrome, a chrome beneficiation operation that produces 200 000 t of chrome concentrate a year by processing four-million tonnes of tailings a year. As announced in a newspaper advertisement, Implats’... 

Desalination helps South32’s KZN aluminium smelter beat water woes

By: David Oliveira     Updated 3 hours ago To ensure sustainable operations in drought-stricken Richards Bay, KwaZulu-Natal, diversified miner South32 has invested R74-million in a seawater desalination plant that uses membrane technology to produce cooling process water for its Hillside aluminium smelter. The diversified miner appointed... 

Desalination helps South32’s KZN aluminium smelter beat water woes

Lucara tops $1bn in sales since 2012 production start

By: Henry Lazenby     9th December 2016 Southern African diamond miner Lucara Diamond Corp has breached the $1-billion revenue mark for the first time since production at the Boteti Karowe mine, in Botswana, started in June 2012. "Achieving sales of $1-billion is a significant milestone for the company and is a recognition of our... 

Lucara tops $1bn in sales since 2012 production start

Botswana diamond mine to retrench 450 workers

By: African News Agency      Updated 3 hours ago At least 450 miners will be retrenched next week at Karowe Diamond miner following a decision by owners Lucara Diamonds to prematurely terminate a mining services contract with South African company Eqstra. The dispute between Lucara Diamond and Eqstra, which has been simmering for months, is... 

Tanlouka gets environmental permit

By: Esmarie Swanepoel     Updated 1 hour 58 minutes ago ASX-listed West African Resources has been awarded an environmental permit for its Tanlouka gold project, in Burkina Faso. “The approval of the environmental and social impact assessment (ESIA) is a major achievement and brings us to the final stages of the permitting process for Tanlouka,” said... 

Rio’s CEO wants to buy diamonds, but finding them won’t be easy

By: Bloomberg     Updated 7 hours ago Even for the deepest pockets in the mining industry, diamonds are hard to find. Rio Tinto Group CEO Jean-Sebastien Jacques said this week he’s on the hunt for new diamond mines, but with more than half of the industry controlled by just two companies and new discoveries rare, it’s going to be a... 

Rio’s CEO wants to buy diamonds, but finding them won’t be easy

Glencore shares rise as Rosneft deal wins analyst thumbs-up

By: Martin Creamer     8th December 2016 The share price of diversified mining and marketing company Glencore rose in Johannesburg on the news that the company is in final-stage negotiations to buy 19.5% of Russia’s privatised oil company Rosneft for $11-billion together with the Qatar Investment Authority, which is Glencore’s largest... 

Glencore shares rise as Rosneft deal wins analyst thumbs-up
Photo by Reuters
Russia's president Vladimir Putin with Rosneft CEO Igor Sechin

Local mining industry still in doldrums – economists

By: Megan van Wyngaardt     8th December 2016 South African mining production growth slipped back into negative territory in October, falling 2.9% year-on-year after growing by an upwardly revised 4.7%. This, BNP Paribas Securities economist Jeffrey Schultz explained in a note released Thursday, was evidence that mining activity continued to... 

Local mining industry still in doldrums – economists
Chamber of Mines chief economist Henk Langenhoven

Anglo confronts messy divorce in miner’s South Africa birthplace

By: Bloomberg     8th December 2016 In 1917, Ernest Oppenheimer met with South African general and soon-to-be Prime Minister Jan Smuts to seek his blessing for a new mining company called Anglo American. Smuts wanted one assurance, the company was there for the long haul. Anglo, along with its sister company De Beers, made... 

Anglo confronts messy divorce in miner’s South Africa birthplace

Dalradian development stope produces 35% more gold than foreseen in resource model

By: Henry Lazenby     9th December 2016 TSX- and Aim-listed Dalradian Resources has produced 35% more gold from the third test stope at its Curraghinalt gold project in Northern Ireland, than predicted in the June resource estimate. Toronto-based Dalradian explained that the third stope is located on the V-75 vein, complementing two... 

Caterpillar will consider retaining jobs in US under Trump

By: Bloomberg     8th December 2016 Under a Donald Trump government, Caterpillar will consider keeping jobs in the US that may have otherwise been shifted abroad, CEO Doug Oberhelman said. Tax changes and other policies proposed by president-elect Trump would help generate more jobs and it’s “reasonable” to think the economy can... 

Armadale declares maiden resource estimate at Tanzania graphite project

By: Megan van Wyngaardt     8th December 2016 Aim-listed Armadale has declared a maiden Joint Ore Reserves Committee-compliant inferred mineral resource estimate of 40.9-million tonnes – graded at 9.41% total graphitic content (TGC) – for its 100%-owned Mahenge Liandu graphite project, in Tanzania. At least 32-million tonnes of this resource... 

Gold Road's deal with Gold Fields now unconditional

By: Esmarie Swanepoel     8th December 2016 All conditions precedent to the A$350-million transaction between ASX-listed Gold Road Resources and mining major Gold Fields over the Gruyere project, in Western Australia, have now been met. Gold Road told shareholders on Thursday that the completion of the 50% sale in the Gruyere project to... 

Iluka completes Sierra Rutile merger

By: Esmarie Swanepoel     8th December 2016 ASX-listed Iluka Resources has completed the acquisition of Sierra Rutile for A$375-million. The completion of the merger followed on from German regulatory approval in November and Iluka negating fears over the geotechnical risks at the Sierra Rutile tailings dams, in Sierra Leone. 

Sula historic drill core offers encouraging results for Sierra Leone project

By: Megan van Wyngaardt     8th December 2016 Additional samples taken from an historic drill core at Aim-listed Sula’s Ferensola gold project, in Sierra Leone, have yielded further positive results, with one oxide sample returning an assay of 28.9 g/t gold. In early November 2016, samples were collected from an historic drill core remaining... 

Australian miners paid more than half of 2014/15 profits in tax

By: Esmarie Swanepoel     Updated 1 hour 48 minutes ago The Australian minerals industry faced an effective tax rate of 54.3% in 2014/15 – the highest burden for nearly a decade, new research by advisory firm Deloitte Access Economics has shown. The Annual Tax Survey, commissioned by the Minerals Council of Australia (MCA), showed that more than half... 

QRC publishes research to quash ‘flawed’ TAI coal report

By: Esmarie Swanepoel     Updated 1 hour 53 minutes ago The resources sector has countermanded think tank The Australian Institute’s (TAI’s) data on the importance of coal mining to the Queensland economy, saying the research is based on “unfounded assumptions” and that it “discounted critical economic impacts”. The TAI in September released a report... 

QRC publishes research to quash ‘flawed’ TAI coal report
Ian Macfarlane

Boost for Western Australia as Gorgon starts supplying first customers

By: Esmarie Swanepoel     Updated 1 hour 55 minutes ago The $54-billion Gorgon liquefied natural gas (LNG) project, on Barrow Island off the coast of Western Australia, has started domestic gas supplies to the Western Australian market. US energy major Chevron on Friday reported that an initial 150 TJ/d of gas was being supplied to foundation... 

Boost for Western Australia as Gorgon starts supplying first customers

Iron Hill gets enviro nod

By: Esmarie Swanepoel     Updated 2 hours 1 minute ago he Western Australian Environment Minister has approved ASX-listed Mount Gibson’s Iron Hill project. “We welcome this important environmental approval of the Iron Hill mine, which takes us one step closer to commencing mine development in early 2017,” Mount Gibson CEO Jim Beyer said on Friday. 

Iron Hill gets enviro nod

Carrapateena drilling proves the point

By: Esmarie Swanepoel     Updated 2 hours 6 minutes ago A 2016 drilling programme at the Carrapateena copper/gold project, in Western Australia, has increased Oz Minerals’ confidence in the project. The drilling programme resulted in an updated mineral resource estimate of 134-million tonnes, grading 1.5% copper, 0.6 g/t gold and 6.5 g/t silver, with... 

Waitsia FID due by end of 2017

By: Esmarie Swanepoel     Updated 2 hours 7 minutes ago The joint venture (JV) partners in the Waitsia gas project, in Western Australia, are expected to make a final development decision on the Stage 2 development by the end of 2017. The Stage 2 development could supply 10% of Western Australia’s domestic gas demand, some 100 Tj/d, for a period of... 

Nagivator buys gold project

By: Esmarie Swanepoel     Updated 2 hours 8 minutes ago Junior explorer Navigator has acquired the Violet gold project in the Kookynie goldfield, in Western Australia, for A$22 500 in cash. The project comprises a single prospecting license within the North Coolgardie mineral field, which historically produced more than 600 000 oz of gold from the... 

Peninsula raises cash for streamlined strategy

By: Esmarie Swanepoel     Updated 2 hours 10 minutes ago Uranium producer Peninsula Energy has raised A$8.5-million through a share placement, and flagged a possible A$5-million raising through a share purchase plan (SPP), to fund its streamlined strategy for the Lance project, in the US. Peninsula told shareholders this week that 17-million ordinary... 

Manitok hits new production record

By: Henry Lazenby     9th December 2016 TSX-V-listed Manitok Energy has reached a new production record of 7 100 barrels of oil equivalent a day (boe/d), based on field estimates, surpassing the previous record of 6 500 boe/d achieved in October. Calgary-based Manitok, which focuses on Lithic Glauc (LG) oil reservoirs in south-east... 

Mining Weekly iPhone and Android Apps available for free download 

     9th December 2016 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

MGX inks lithium brine accord with Sturgeon Lake oil & gas operator

By: Henry Lazenby     8th December 2016 Western Canada-focused project developer MGX Minerals has acquired rights to sample and analyse brine waters emitted from the Sturgeon Lake oilfield, in north-western Alberta for metallic mineralisation, the company reported Thursday. Under the agreement, MGX will be able to undertake water... 

Iron-ore export duty takes centre stage ahead of India’s national Budget

By: Ajoy K Das     8th December 2016 The iron-ore export duty has moved back to the centre stage in India, with iron-ore miners calling on government to announce a lower export tax when the national Budget is unveiled on February 1. In response to the federal Finance Ministry’s invitation for input from all sectors, iron-ore miners... 

Glencore on nickel and zinc developments  

     8th December 2016 Diversified mining and marketing company Glencore sees a shortage in nickel arising, on the other hand, the company is producing zinc at negative cost. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the developments. 

Glencore on nickel and zinc developments

Coordinated planning approach ‘imperative’ to Australia’s energy future - AEMO

By: Esmarie Swanepoel     8th December 2016 The Australian Energy Market Operator (AEMO) has again highlighted the need for urgent policy reform to secure the nation’s energy future. In its latest National Gas Forecasting Report (NGFR), the AEMO warned of uncertainties and challenges, which will complicate gas demand forecasts for eastern... 

Work starts on Exploring for the Future programme

By: Esmarie Swanepoel     8th December 2016 The Association of Mining and Exploration Companies (AMEC) has welcomed the federal government’s implementation of the A$100-million Exploring for the Future programme, which seeks to boost the productivity and competitiveness of the minerals sector. Resources and Northern Australia Minister... 

Work starts on Exploring for the Future programme

Santos unveils plan to rid itself of noncore assets, slash debt by $1.5bn

By: Esmarie Swanepoel     8th December 2016 Oil and gas major Santos has revealed plans to spin off its noncore assets into a standalone low-cost business as it targets a $1.5-billion debt reduction by the end of 2019. The assets to be spun out include those in Indonesia, Vietnam, Malaysia and Bangladesh, as well as in the Narrabri and... 

Santos unveils plan to rid itself of noncore assets, slash debt by $1.5bn

Continued gas development needed to keep WA market well supplied

By: Esmarie Swanepoel     8th December 2016 Western Australia’s domestic gas market is expected to be well supplied over the next ten years, if gas reserves continue to be developed. “Growth in domestic gas demand is forecast to be a marginal 0.1% over the outlook period, as there are only a handful of large gas consumers that are expected... 

Kingsgate reduces debt ahead of Chatree stop

By: Esmarie Swanepoel     8th December 2016 ASX-listed gold miner Kingsgate Consolidated expects to reduce its total debt position to about A$13-million by the end of the month. The miner said on Thursday that a discretionary payment of $5.2-million had been made against the Chatree loan facility, and a further discretionary payment of... 

Mt Morgan to cost A$85m

By: Esmarie Swanepoel     8th December 2016 The Mount Morgan gold/copper project, in Queensland, will require a capital investment of A$85-million, ASX-listed Carbine Resources has reported. The company on Thursday revealed the results of a feasibility study into the Mt Morgan project. Based on a 1.1-million-tonne throughput rate, the... 

Mt Morgan to cost A$85m

Metro partners up in Myanmar

By: Esmarie Swanepoel     8th December 2016 ASX-listed Metro Mining has signed a farm-in agreement with PanAust over its Mahar San exploration project, in Myanmar. Under the agreement PanAust will have the exclusive option to explore the project for one year, in exchange for funding all operating costs, including an agreed drilling... 

Stars may align for giant Papua New Guinea copper mine

By: Reuters     8th December 2016 After nearly 50 years on the drawing board, the latest backers of Papua New Guinea's $3.6-billion Frieda River copper project say the time may finally be right for the giant mine - even if some hurdles remain. Regarded as one of world's largest untapped copper/gold resources, the deposit has sat... 

UGL urges shareholders to accept Cimic offer

By: Esmarie Swanepoel     8th December 2016 The board of takeover target UGL has advised shareholders to accept the A$3.15 a share cash offer from ASX-listed Cimic, after the company obtained a relevant interest of 77.09%. The UGL board warned that shareholders who did not accept the offer faced becoming minority interest holders in UGL,... 

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