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Gold Fields to build 3D model of huge South Deep mine

By: Martin Creamer A three-dimensional (3D) visualisation model of the large South Deep gold mine is poised to be the high point of a series of modernisation steps taken by the Gold Fields operation, which last week helped the share price of the Johannesburg- and New York-listed gold mining company to take its... 

Gold Fields to build 3D model of huge South Deep mine
South Deep gold mine

Stabilise mining as key industry feeding economy – Goldman Sachs

By: Martin Creamer South Africa can score quick wins with the right focus, Goldman Sachs Sub-Saharan Africa investment banking head Colin Coleman said on Wednesday. At a presentation at the Gordon Institute of Business Science (GIBS) attended by Creamer Media’s Mining Weekly Online, Coleman put the stabilisation of... 

Stabilise mining as key industry feeding economy – Goldman Sachs
Photo by Duane Daws
Goldman Sachs International MD Colin Coleman

Strong interest in making London gold market more transparent - LBMA

By: Reuters Exchanges, brokers and data vendors are interested in providing clearing or reporting services to make the gold market more liquid and transparent, the London Bullion Market Association (LBMA) said on Wednesday. Financial market transparency has been a major focus for regulators after evidence of... 

PNG committed to help resource companies advance projects – PM

By: Esmarie Swanepoel The Papua New Guinea government is committed to work with the mining industry to advance key resources projects, including the Frieda River copper/gold project and the Wafi-Golpu gold project, Prime Minister Peter O’Neill said this week. ASX-listed Highlands Pacific and Guangdong Rising Asset... 

Low copper price sees Weatherly defer loan repayment

By: Megan van Wyngaardt Aim-listed Weatherly International’s share price on the LSE dropped by more than 21% on Wednesday as the company reported that it was unable to service its debt facility with Orion Mine Finance. The current copper price of $4 515/t – a six-year low – meant that the Tschudi mine, in northern... 

Paladin buys back more notes

By: Esmarie Swanepoel Uranium miner Paladin Energy has repurchased $11-million of its outstanding $254-million convertible bonds, which were due in 2017. The ASX and TSX-listed company reported on Wednesday that the cash expenditure for the repurchase was about $9.9-million, as the bonds were bought back at an... 

No reprieve: iron-ore glut defies Samarco dam disaster

By: Reuters Premiums for iron-ore pellets - the highest-quality steelmaking raw material - have sunk this month despite the loss of a fifth of global supplies after a Brazil mine disaster, underscoring the industry's deep glut. Even a permanent closure at the flood-hit Samarco mine would be unlikely to boost... 

Carbon limits to put $2tn of coal, oil, gas projects at risk – report

By: Reuters Up to $2-trillion in petroleum and coal projects will not be needed if the world takes action to limit warming of the planet to 2 degrees Celsius, according to a report released this week ahead of a global climate summit in Paris. The report adds to a string of studies warning investors that... 

Carbon limits to put $2tn of coal, oil, gas projects at risk – report

Botswana set to draw water from Lesotho Highlands Project

By: African News Agency Arid Botswana has finalised a deal with South Africa and Lesotho to tap some of the water from the Lesotho Highlands Water Project. Botswana’s Minister of Mineral, Energy and Water Resources Minister, Onkodame Kitso Mokaila confirmed this at a conference in Gaborone on the diamond industry. 

Botswana set to draw water from Lesotho Highlands Project

Motsepe Foundation provides R117m for schools sport, culture programmes

By: David Oliveira The Motsepe Foundation has committed about R117.5-million to the Department of Basic Education (DBE) for sports and music development at schools across South Africa. Basic Education Minister Angie Motshekga received the donation from the foundation’s cofounder and JSE-listed mining firm African... 

Motsepe Foundation provides R117m for schools sport, culture programmes
Photo by Duane Daws
Motsepe Foundation cofounder Patrice Motsepe

Master Drilling expands European footprint

By: Megan van Wyngaardt Drilling services provider Master Drilling International (MDI) has inked a €5-million deal that will see it acquire a 40% stake in Scandinavian raisebore drilling company Bergteamet Raiseboring Europe. This formed part of MDI’s long-term growth strategy and was an effective entry into the... 

Creamer Media publishes Water 2015: A review of South Africa's water sector research report 

By: Creamer Media Reporter Creamer Media’s Water 2015 Report considers the aforementioned issues, not only in the South African context but also in the African and global context in terms of supply and demand, water stress and insecurity, and access to water and sanitation, besides others. 

Creamer Media publishes Water 2015: A review of South Africa's water sector research report

Gold extends gains on geopolitical tensions but US rate view drags

By: Reuters Gold added to overnight gains on Wednesday on a softer dollar and heightened tensions after Turkey shot down a Russian warplane, but the rally was capped on expectations of a US rate hike next month. Turkey shot down the Russian jet near the Syrian border on Tuesday, saying the plane had violated... 

Argonaut chairperson to retire

By: Megan van Wyngaardt Canadian mining company Argonaut Gold’s chairperson Brian Kennedy will retire, effective December 31. Kennedy chaired the board since the company went public in December 2009. Prior to that, he served as Meridian Gold chairperson. 

KWG, Chinese firm consider Ring of Fire transportation corridor collaboration

By: Ilan Solomons Chromite explorer KWG Resources and Chinese State-owned China Railway First Survey & Design Institute Group (FSDI) are considering a possible transaction for FSDI to undertake a feasibility study on behalf of KWG on all aspects of the construction of Ontario’s Ring of Fire (RoF) transportation... 

Silver Lake sells noncore Murchison tenements

By: Esmarie Swanepoel Gold miner Silver Lake Resources entered into two transactions to extract value from its noncore tenements in the Murchison region of Western Australia, the ASX-listed company announced on Wednesday. In its first transaction, Silver Lake entered into a conditional sales and purchase agreement... 

WA advances plans to sell Utah Point port

By: Esmarie Swanepoel The Western Australian government on Wednesday introduced legislation to Parliament to enable the divestment of the Utah Point port facilities. Treasurer Mike Nahan said the Pilbara Port Assets (Disposal) Bill 2015 would provide the legal framework to transfer the Utah Point facility to the... 

WA advances plans to sell Utah Point port

New WA Bill to update Australia’s oldest conservation legislation

By: Esmarie Swanepoel The Western Australian Chamber of Minerals and Energy (CME) on Wednesday welcomed the state government’s introduction of Biodiversity Conservation Bill 2015 into Parliament to enable review of its content. Premier Colin Barnett said introducing the Bill was a momentous step forward in the... 

Thunderbox remains on track - Saracen

By: Esmarie Swanepoel Mining at the Thunderbox gold mine, in Western Australia, continued to progress ahead of schedule, with owner Saracen Mineral Holdings on Wednesday confirming that the project was still slated to produce its firs gold in the June quarter of next year. First ore was mined in October, ahead of... 

Yukon project to require $174m investment - MinQuest

By: Esmarie Swanepoel A scoping study into the Marg multi-metals project, in Canada's Yukon territory, has found that the project could support a production rate of 1.25-million tonnes a year from an underground operation, with a seven-and-a-half year mine life. The Marg project is forecast to produce 241 400 t of... 

SouthGobi executes interest deferral agreement with CIC

By: Creamer Media Reporter Toronto- and Hong Kong-listed SouthGobi has executed an agreement with China Investment Corporation (CIC) for the deferral of cash interest payments. SouthGobi, which mines coal in Mongolia, has agreed to pay CIC a deferral fee at a rate of 6.4% a year. 

Northern Star weighs electricity deal with Enerji

By: Esmarie Swanepoel ASX-listed Enerji has entered into contract negotiations with gold miner Northern Star at its Jundee gold project, in Western Australia. In July this year, Enerji was mandated to evaluate the viability of applying its advanced thermal energy node technology to the diesel- and gas-powered... 

Katanning scoping proves a hit for Ausgold

By: Esmarie Swanepoel ASX-listed junior Ausgold on Wednesday revealed that its Katanning gold project, in Western Australia, would require a capital investment of some A$70-million. Over the projected four-year mine-life, the project was expected to produce an average 47 340 oz/y, at a C1 cash cost of A$928/oz, to... 

Continental secures EIA prioritisation for Buriticá

By: Natasha Odendaal The final legal process to facilitate the filing of an updated environmental application amendment for TSX-listed Continental Gold’s flagship Buriticá project, in Colombia, has been completed. The Colombia government last week published Decree 2220, which would allow the national environment... 

Goldcorp, Teck complete combination of Chile projects

By: Creamer Media Reporter Gold major Goldcorp and diversified miner Teck Resources have completed the combination of their respective El Morro and Relincho projects, in Chile, into a 50:50 joint venture (JV), paving the way for a prefeasibility study (PFS) to start next year. Goldcorp said in a statement on Tuesday that... 

Antofagasta may cut costs more if copper price stays low – CEO

By: Reuters Chilean mining company Antofagasta will likely have to further cut costs if the price of copper does not recover within the next month, CEO Diego Hernandez said on Tuesday. Some cuts had already been made, said Hernandez, speaking on the sidelines of a mining forum in Santiago. 

Roy Harvey to head Alcoa's commodities business post split

By: Reuters Aluminum producer Alcoa Inc said it named Roy Harvey chief executive of its traditional aluminum smelting and refining operations, which would be separated from its faster growing plane and car parts business. Harvey, 41, is currently the president of Alcoa's global primary products business,... 

100Mt-plus copper resource defined at Botswana copper, silver play

By: Natalie Greve A recent drilling campaign on the Zone 5 deposit at Cupric Canyon Capital subsidiary Khoemacau Copper Mining, in Botswana, has defined a 100-million-ton high-grade copper and silver ore resource, the company said on Tuesday. “This most recent drilling and feasibility work has established Zone 5... 

Imported LNG set to kickstart gas-to-power vision – Sasol

By: Martin Creamer Imported liquefied natural gas (LNG) is expected to initiate the greater use of gas in South Africa’s currently coal-dominated electricity generation. Anticipated is the establishment of infrastructure at South African ports, such as Saldanha Bay, Coega or Richards Bay, to facilitate the... 

Imported LNG set to kickstart gas-to-power vision – Sasol
Photo by Duane Daws
Maurice Radebe

Bauba confident of Moeijelijk 20yr mining right in Q1

By: Natasha Odendaal JSE-listed Bauba Platinum is cautiously optimistic of securing a 20-year mining right to replace the current small-scale mining permit over its Moeijelijk chrome deposit, in Limpopo, by the first quarter of 2016. The company lodged the application with the Department of Mineral Resources earlier... 

Eskom says OCGT use falling from very high first-half levels 

By: Terence Creamer Despite reporting a 1.7% period-on-period decline in electricity sales for the six months to the end of September, Eskom’s primary energy costs still rose 8% to R40.9-billion, with diesel accounting for 16%, or over R6.5-billion, of that bill. Sales slumped to 107 307 GWh from 109 168 GWh in the... 

Eskom says OCGT use falling from very high first-half levels
Photo by Duane Daws
Eskom CEO Brian Molefe

Kefi raises $4m for Tulu Kapi advancement

By: Natasha Odendaal Aim-listed Kefi Minerals has raised around $4-million through a conditional placing to advance its Tulu Kapi project, in Ethiopia. The group issued 877-million new ordinary shares of 0.1p each at a price of 0.3p apiece by way of a placing through Brandon Hill and the subscription of 54.8-million... 

China zinc smelter cuts fail to tip the supply-demand balance

By: Reuters Output cuts announced by Chinese zinc smelters last week will do little to tighten next year's global supply-demand balance in refined metal because already known mining cutbacks would have forced smelters to reduce production anyway. On top of that, hard-hit prices will fail to get much of a... 

Namibia retains focus on securing diamond value-add locally

By: Ilan Solomons The local beneficiation of Namibia’s diamonds remained a top priority for government and industry stakeholders, Namibia Diamond Commissioner Kennedy Hamutenya said on Tuesday. Speaking to Mining Weekly Online from the International Diamond Conference 2015, which is being held in Windhoek,... 

Namibia retains focus on securing diamond value-add locally
Namibia Diamond Commissioner Kennedy Hamutenya

Harmony declares maiden resource at Kili Teke prospect

By: Natasha Odendaal Gold miner Harmony Gold is “thrilled” with the prospect of transforming its Kili Teke resource – the first new porphyry copper-gold deposit defined in Papua New Guinea since the Golpu discovery in the early 1990s – into a major new deposit. Following the declaration of the greenfield project’s... 

ArcelorMittal South Africa prices $320m rights offer, shares jump

By: Reuters ArcelorMittal's South African unit priced its $320-million cash call at more than a 50% premium on Tuesday as it battles falling steel demand and rising costs, sending its shares soaring. "They're sending the signal that someone with deep pockets is backing them and obviously the parent company... 

ArcelorMittal South Africa prices $320m rights offer, shares jump

Ethics probe should not delay Freeport Indonesia divestment, says govt

By: Reuters A parliamentary ethics probe into a meeting between the speaker of Indonesia's house of representatives and officials from mining giant Freeport McMoRan should not delay the company's divestment plans for its Indonesian unit, a mining ministry official said on Tuesday. Freeport Indonesia must... 

Eskom plans ten-year tariff submission while pushing ahead with two claw-back bids 

By: Terence Creamer State-owned electricity producer Eskom plans to make an early fourth multiyear price determination (MYPD4) application to the National Energy Regulator of South Africa (Nersa) and also extend the tariff horizon in the submission to ten years, CFO Anoj Singh said on Tuesday. The current MYPD3... 

Eskom plans ten-year tariff submission while pushing ahead with two claw-back bids
Photo by Duane Daws
Eskom CFO Anoj Singh

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