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Newcrest to wrap up Wafi-Golpu study by year-end

By: Esmarie Swanepoel     Updated 3 hours ago Gold major Newcrest is hoping to complete an updated prefeasibility study (PFS) on its Wafi-Golpu joint venture, in Papua New Guinea, by the end of 2014, the Australian company reported on Tuesday. The project, which is being developed with South Africa’s Harmony Gold and comprises the Golpu and... 

Newcrest to wrap up Wafi-Golpu study by year-end

Tiger ups production as SX-EW plant hits nameplate

By: Esmarie Swanepoel     Updated 3 hours ago Copper cathode producer Tiger Resources has reported a significant surge in production after its solvent extraction electrowinning (SX-EW) plant, at its Kipoi project in the Democratic Republic of Congo, reached nameplate capacity. First copper cathode was produced in May this year, and the... 

Randgold asks DRC to match local investment, maintain positive legal climate

By: Henry Lazenby While Randgold Resources’ Kibali gold mine, in the Democratic Republic of Congo (DRC), continued with its scheduled ramp-up, the company on Monday appealed to the local and national governments to match the nearly $600-million investment in the local economy and maintain an investor-friendly... 

Randgold asks DRC to match local investment, maintain positive legal climate

India takes baby steps towards open coal sector

By: Ajoy K Das     Updated 2 hours 33 minutes ago The Indian government has given the first hints of legislative changes designed to usher in the de-nationalisation of the country’s coal sector. While no timeframe for the dramatic reform of the sector had been given, the government has indicated that de-nationalisation was the path it would... 

StratMin signs offtake deal for Madagascar graphite

By: Creamer Media Reporter      Updated 1 hour 35 minutes ago Aim-listed graphite producer StratMin Global Resources has started selling natural flake graphite from its Madagascar-based operations to an undisclosed independent graphite processor and merchant. This followed on the signing of an offtake agreement between the parties, which was effective... 

Stellar to start Baoulé diamond sales before year-end

By: Creamer Media Reporter      Updated 2 hours 41 minutes ago West Africa-focused diamond development company Stellar Diamonds expects to start selling diamonds from its Baoulé trial mining project, in Guinea, before the end of this year. The miner had completed the processing of the first kimberlite sample from the project, following the successful... 

Balamara consolidates Mariola ownership in A$13m deal

By: Esmarie Swanepoel     Updated 3 hours ago ASX-listed junior Balamara Resources on Tuesday announced a A$13-million all-scrip deal to consolidate the ownership of the Mariola thermal coal project, in Poland. Under the terms of the transaction, Balamara would issue 200-million of its own shares, or similar, to acquire the remaining 85% of... 

Global supply glut increases iron-ore downside risks – Moody’s

By: Henry Lazenby A growing oversupply in the iron-ore market was damaging the credit quality of producers and posed risks to the downside, Moody's Investors Service noted last week in a sector comment - ‘Iron-ore supply increases pose risk to market fundamentals’. Owing to an aggressive supply push by the major... 

Global supply glut increases iron-ore downside risks – Moody’s

Davis Tax Committee mulls ways to 'detect and deter' corporate tax avoidance

By: Terence Creamer The revenue implications for South Africa of ‘base erosion and profit shifting’ by corporate taxpayers are firmly in the crosshairs of the Davis Tax Committee (DTC) and Judge Dennis Davis hinted on Monday that recommendations were being considered to “detect and deter” tax-avoiding financial... 

Davis Tax Committee mulls ways to 'detect and deter' corporate tax avoidance
Photo by Duane Daws
Judge Dennis Davis

Gold Fields on track to reach full-year production target, cost estimates revised downwards

By: Leandi Kolver Gold miner Gold Fields on Monday announced that its attributable gold equivalent production for the three months ended September as expected to be about 559 000 oz. All-in sustaining costs (AISC) and all-in costs (AIC) for the third quarter were expected to be about $1 074/oz and $1 096/oz... 

Shanta delivers record gold output, hikes New Luika resource

By: Natasha Odendaal London-listed Shanta Gold on Monday reported record gold output for the third quarter of the year. The East Africa-focused gold production and exploration company delivered 22 720 oz of gold during the three months to September, up 4% from the 21 940 oz delivered during the second quarter of the... 

Fraser Alexander appoints interim CEO

By: Chantelle Kotze Jaap Nel has stepped down as CEO and as a member of the board of directors of mining solutions company Fraser Alexander, which is a subsidiary of Royal Bafokeng Holdings. His resignation is effective October 13. 

Fraser Alexander appoints interim CEO
Photo by Duane Daws
Fraser Alexander interim CEO Velile Nhlapo

Mwana lifts Q2 gold recovery at Freda Rebecca 23%

By: Natalie Greve Mwana Africa has increased gold production at its Zimbabwe-based Freda Rebecca mine by 23% to 16 555 oz in the quarter ended September 30, owing to improvements in feed grade, recovery and tons milled. Tons milled rose 21.3% to 319 768 t over the three months, while the average     feed grade... 

Tiger closes deal to fully acquire Kipoi copper play

By: Natalie Greve ASX-listed Tiger Resources has completed the acquisition of the remaining 40% shareholding in Société d’Exploitation de Kipoi (SEK), the owner of the Kipoi copper project, in the Democratic Republic of Congo (DRC). SEK was now a wholly-owned subsidiary of Tiger, with the deal having followed the... 

Nordgold completes acquisition of Burkina Faso project

By: Leandi Kolver London-listed Nordgold has completed the acquisition of Canadan mineral exploration company Goldrush Resources’ Ronguen gold project, 10 km from Nordgold’s Bissa mine, in Burkina Faso. Nordgold had, in June this year, entered into a share purchase agreement with Goldrush to acquire all the shares... 

Creamer Media publishes Defence 2014: A review of South Africa's defence industry research report

Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand strategic defence procurement... 

Creamer Media publishes Defence 2014: A review of South Africa's defence industry research report

Iron-ore flood leaves little wriggle room for minnow Atlas

By: Reuters     Updated 2 hours 46 minutes ago A flood of low-cost iron ore is driving tiny Australian miner Atlas Iron to its break-even point, underscoring the pain inflicted by a ramp-up in output by mega-producers Rio Tinto and BHP Billiton. Atlas, which raced into production half a decade ago when iron ore prices were booming on the... 

WA enviro approval clears rare earths project for development

By: Esmarie Swanepoel     Updated 2 hours 58 minutes ago he Western Australian government has given environmental approval for ASX-listed Northern Minerals to develop its Browns Range heavy rare earths project. The environmental clearance marked the completion of the Browns Range project’s primary environmental assessment process. 

Australian horse breeders halt Anglo American coal expansion plans

By: Esmarie Swanepoel     Updated 3 hours ago The New South Wales Planning Assessment Commission (PAC) has refused diversified major Anglo American’s application to develop the Drayton South mine, claiming it would negatively affect the Coolmore and Dudley horse breeding studs. The Drayton mine has been in operation since 1983 and produces... 

Australian horse breeders halt Anglo American coal expansion plans

Havilah gets go-ahead for Portia development

By: Esmarie Swanepoel     Updated 3 hours ago Junior Havilah Resources has been granted approval by the South Australian government to start mining at its Portia gold project. ASX-listed Havilah told shareholders on Tuesday that the Department of State Development had approved the programme for environmental protection and rehabilitation... 

Andy Well delivers strong quarter for Doray

By: Esmarie Swanepoel     Updated 3 hours ago Gold production from the Andy Well operation, in Western Australia, has remained steady during the three months to September, with the project operating to expectations, owner Doray Minerals reported on Tuesday. During the first quarter under review, gold production at Andy Well reached 18 265... 

Maintenance issues hinder St Barbara output

By: Esmarie Swanepoel     Updated 3 hours ago A planned two-week maintenance period at the Leonora operation, in Western Australia, has resulted in ASX-listed St Barbara reporting a significant decline in gold production during the September quarter. During the three months under review, group gold production reached 68 823 oz, compared... 

Flinders adds to Pilbara resource

By: Esmarie Swanepoel     Updated 3 hours ago Iron-ore hopeful Flinders Mine has increased the resource at its flagship Pilbara iron-ore project, after nearly doubling the resource at the Blackjack deposit. Based on a recent drilling campaign at Blackjack, the deposit was now estimated to host some 86.2-million tonnes of resource, grading... 

Buenaventura scales back plans for Chucapaca gold project

By: Reuters Peruvian miner Buenaventura has scaled back plans for its Chucapaca gold project since taking full control of the deposit from Gold Fields earlier this year, the company told Reuters on Monday. Buenaventura will now invest $700-million in the project instead of an earlier estimate of $2-billion,... 

On back of strong Q3 output growth, Klondex lifts full-year outlook

By: Henry Lazenby Nevada-focused gold producer Klondex Mines on Monday reported a 73% quarter-on-quarter rise in precious metals produced during the three months ended September 30, as production benefitted from increased mill throughput and higher gold grades. The company, which this year transformed from a... 

Monument Mining obtains Malaysia federal stay order pending hearing

By: Henry Lazenby Malaysia-focused gold producer Monument Mining has obtained a stay from the Federal Court against the Court of Appeal's order forcing it to deposit $9.4-million into a joint account maintained by legal counsels of the respective parties to a lawsuit regarding a claimed interest in the Selinsing... 

Peabody beats Street Q3 forecast as Australian cost savings lift results

By: Henry Lazenby US coal producer Peabody Energy’s NYSE-listed stock was on Monday trending lower despite the company reporting a much narrower loss than what Wall Street analysts were expecting, mainly owing to lower costs at its Australian operations. For the three months ended September 30, the St Louis,... 

Peabody beats Street Q3 forecast as Australian cost savings lift results

Niko Resources’ stock tumbles after Indian govt announces new gas price

By: Henry Lazenby Calgary-based Niko Resources, which has oil and gas exploration operations across Southeast Asia, on Monday said it was currently evaluating the impact of the Indian government’s new domestic gas pricing policy on its assets in the country. The company’s TSX-listed stock on Monday fell by more... 

Wescoal expects higher H1 earnings, output

By: Natasha Odendaal JSE-listed miner Wescoal expects to report higher headline earnings and increased production for the six months to September 30. Headline earnings per share for the first half of the year were expected to rise more than 20% on the prior corresponding period last year. 

500 NUM members on strike at Glencore’s Koornfontein mine

By: Natalie Greve Some 500 workers have entered the third day of a protected strike at mining major Glencore’s Koornfontein mine, in Mpumalanga, over what the union claims are unfair deviations from the company’s standard retrenchment package. NUM Highveld regional secretary Stanley Lebelo told Mining Weekly... 

Wesizwe reports first fatality at Bakubung

By: Natasha Odendaal Work on the shaft sinking operations on the main and ventilation shafts at the Bakubung platinum mine site, in Rustenburg, was suspended after Wesizwe on Monday reported its first fatality. A contractor employed as a jumbo operator was fatally injured on October 17 during the shaft sinking... 

RBPlat’s Styldrift project falls further behind schedule

By: Natasha Odendaal JSE-listed Royal Bafokeng Platinum’s (RBPlat’s) ongoing Styldrift I expansion project has fallen over two months behind schedule. The project, which had a targeted production ramp-up start date of the third quarter of 2015 and had been set to reach steady-state production by July 2018, was... 

RBPlat’s Styldrift project falls further behind schedule
Photo by Duane Daws
RBPlat Styldrift

Portfolio committee ‘concerned’ by illegal mining in KZN

By: Natalie Greve The Portfolio Committee on Mineral Resources says it is concerned about the scale of illegal coal mining at a derelict mine in Osizweni, outside Newcastle, in KwaZulu-Natal. Committee chairperson Sahlulele Luzipo said during a meeting with entities of the Department of Mineral Resources (DMR) –... 

Guinea-focused developer moves to fill bauxite supply breach

By: Natalie Greve Ireland-based Anglo African Minerals is looking to fast-track its 43-million-ton Guinea-based bauxite project into production by 2016, telling Mining Weekly Online that production from the 338 km2 project would go some way towards filling the supply deficit resulting from the implementation of a... 

Norilsk sheds African assets in $337m deal

By: Natasha Odendaal Norilsk Nickel is set to sell its African assets to Botswana-based mining company BCL for $337-million, as the Russian miner’s newly adopted strategy to shed all international assets moves forward. The parties on Monday announced the conclusion of definitive transaction agreements that would see... 

Norilsk sheds African assets in $337m deal

China's CITIC wins trial date against Australian billionaire

By: Reuters An Australian court on Monday rejected billionaire politician Clive Palmer's attempt to stop a case brought against him by China's CITIC Ltd, and cleared the way for a trial in November. Palmer wanted the court to throw out CITIC's lawsuit, which alleges he used A$12-million ($10.5-million) that... 

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