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Lace mine development bruised, but not halted by AMCU strike

By: Natalie Greve Development work and tailings retreatment activities at Southern African diamond developer and explorer DiamondCorp’s Lace diamond mine, in the Free State, is continuing despite a protected strike by members of the Association of Mineworkers and Construction Union (AMCU), which is nearing the end... 

Lace mine development bruised, but not halted by AMCU strike
Lace mine

NUM, ARM conclude five-year employee participation fund

By: Natasha Odendaal     Updated 2 hours 57 minutes ago The National Union of Mineworkers (NUM) and Patrice Motsepe’s African Rainbow Minerals (ARM) this week settled drawn-out negotiations over an employee participation fund (EPF). The parties inked a five-year collective EPF that would benefit employees in the A and C bands across all participating... 

NUM, ARM conclude five-year employee participation fund
Photo by Duane Daws
Patrice Motsepe

Enviro permit granted for Nayega manganese project

By: Leandi Kolver Aim-listed iron-ore and manganese developer Ferrex on Thursday announced that the environmental permit for its Nayega manganese project, in Northern Togo, had been granted. The environmental permit set the conditions for the operation of the mine, with Ferrex noting that it was a major milestone... 

Unemployment at 25.4%, Stats SA to provide long-term unemployment data

By: Leandi Kolver     Updated 2 hours 28 minutes ago Statistics South Africa (Stats SA) would, in future, focus more strongly on the trends of long-term unemployment in its quarterly labour force surveys (QLFSs), statistician-general Pali Lehola said on Thursday. Releasing the QLFS for the three months ended September 30, Lehohla noted that... 

Unemployment at 25.4%, Stats SA to provide long-term unemployment data

Zambia may be backing off steeper mine royalty rates – Barrick

By: Reuters     Updated 1 hour 51 minutes ago There are indications that Zambia may be backing away from plans to impose a 20% royalty rate on open pit mining in the country, a top executive with Barrick Gold Corp said on Thursday. "Our sense is that the government realizes that the numbers they have imposed will be very challenging for the... 

Lemur advances triple-edged strategy, awaits Imaloto IPP licence

By: Natalie Greve     Updated 7 hours ago ASX-listed Lemur Resources continued to advance its three-ponged growth strategy by developing its planned flagship Imaloto coal mine, in Madagascar, exploiting its cash balance to acquire additional assets and leveraging its geoservices equipment and geological capabilities in Africa to earn... 

GoldStone shareholders approve Stratex’s 50.1% buyout

By: Natalie Greve     Updated 2 hours 56 minutes ago The shareholders of Aim-listed explorer GoldStone Resources have passed a resolution approving the waiver of obligations on Stratex in connection with Stratex's proposed subscription of £1.25-million worth of shares in GoldStone. As at October 31, Stratex would hold 20.8-million ordinary shares... 

Mine Restoration Investments names new FD

By: Natalie Greve     Updated 6 hours ago Mine Restoration Investments (MRI) has appointed FD Anthon Meyer as nonexecutive director and named former Jubilee Platinum group financial manager Carl-Heinz Gernandt as his successor. Gernandt, whose appointment would be effective from December 1, previously held directorship, financial... 

Sephaku to post H1 earnings loss

By: Natalie Greve     Updated 4 hours ago Sephaku Holdings, which is in the process of finalising its interim results for the six months ended September 30, expects to swing to a basic loss a share of between 1.9c and 2c for the half-year, from basic earnings a share of 3.32c in the first half of the prior year. The headline loss a share... 

APLNG still on track for mid-2015 production

By: Esmarie Swanepoel     Updated 7 hours ago The $24.7-billion Australia Pacific liquefied natural gas (APLNG) was on track to produce its first LNG by mid-2015, project developer Origin Energy’s LNG CEO, David Baldwin, said on Thursday. Full production from both trains were expected by the end of 2016. 

Compliance costing Australian firms A$250bn/y

By: Esmarie Swanepoel Australian companies were spending about A$250-billion each year on efforts to comply with rules and regulations, advisory firm Deloitte reported on Thursday. In its fourth edition of the Building the Lucky Country series, Deloitte noted that about A$95-billion was spent on administering and... 

Compliance costing Australian firms A$250bn/y

Hazelwood targets lower costs, new opportunities in four-part plan

By: Esmarie Swanepoel Tungsten miner Hazelwood Resources is initiating a four-part change management plan aimed at driving down cost and providing a pipeline of further growth opportunities. Executive chairperson Mark Warren said in a letter to shareholders on Thursday that the first focus would be on improving the... 

PanAust expects to hit upper-end of 2014 guidance

By: Esmarie Swanepoel Copper/gold miner PanAust on Thursday told shareholders that the company was on track to meet its full-year production guidance, after reporting a solid quarter in the three months to September. During the quarter under review, the Phu Kham mine, in Laos, produced 16 562 t of copper in... 

Accelerated underground development to save OceanaGold A$215m

By: Esmarie Swanepoel Dual-listed gold miner OceanaGold on Thursday estimated cost savings of about A$215-million between 2018 and 2020 from its Didipio project, in the Philippines, by bringing forward underground production. In September, ASX- and TSX-listed OceanaGold announced that the underground development of... 

South Johnstone proves viable for Queensland Bauxite

By: Esmarie Swanepoel A scoping study into the South Johnstone bauxite project, in Queensland, has confirmed the potential for early production, owner Queensland Bauxite said on Thursday. Based on an initial mining operation of some 800 000 t/y of bauxite, the South Johnstone project was expected to require a capital... 

Australian Bauxite wins public approval

By: Esmarie Swanepoel The development of ASX-listed Australian Bauxite’s Bald Hill project, in Tasmania, was moving apace after no public objections were raised to the project development. The junior bauxite developer said on Thursday that it had now concluded a 28-day public disclosure period for the Bald Hill... 

SME exporters still positive about the future - Efic

New research by specialist financier Efic has revealed cautious optimism amongst Australia’s small- and medium-sized enterprise (SME) exporters, including miners. Efic reported on Thursday that some 40% of exporting SME’s expected increased sales over the next 13 months, with the majority of... 

Lower grades impact on Chatree output - Kingsgate

By: Esmarie Swanepoel Gold miner Kingsgate Consolidated has reported a slight decline in production during the three months to September, compared with the previous quarter, as its Chatree mine, in Thailand, access lower gold grades. Planned maintenance at the Chatree operation also resulted in lower plant... 

Resources Watch

By: Creamer Media Reporter This week: De Beers plans to keep South African diamond exploration spend at R30-million a year. And, South Africa’s ‘instant’ society hurts prospects. 

Resources Watch

Yamana Gold posts big loss on charges for Brazil mines, tax

By: Reuters Yamana Gold reported a hefty third-quarter net loss on Wednesday as large impairment charges for three Brazilian mines and charges for newly enacted Chilean taxes more than offset higher production and lower costs. The Canadian-based gold miner recorded a $668-million impairment charge for its... 

Centerra Gold loss widens as prices, sales drop

By: Reuters Centerra Gold reported a deeper third-quarter loss on Wednesday, reflecting lower gold prices and the sale of fewer ounces of gold, the company said. The Toronto-based gold miner's net loss widened to $3.2-million, or $0.01 a share, from $1.8-million, or $0.01, in the year-ago period. 

Agnico Eagle posts Q3 loss, lifts 2015 guidance

By: Henry Lazenby Canadian miner Agnico Eagle experienced a third-quarter net loss of $15.1-million, or $0.07 a share, impacted by a non-cash foreign currency translation loss on deferred tax liabilities of $11.3-million and other special items. Excluding special items, the Toronto-based miner on Wednesday... 

Augusta acquisition adds to Hudbay’s Q3 profit

By: Henry Lazenby Canadian base metals producer Hudbay Minerals has generated a profit of $49.2-million, or $0.22 a share, for the three months ended September 30, up from $3-million for the same period in 2013, boosted by gains related to the C$555-million acquisition of Augusta Resource Corp in July. Hudbay... 

Sherritt International posts Q3 loss, cuts into workforce

By: Henry Lazenby TSX-listed nickel and cobalt producer Sherritt International will cut its salaried workforce by 10%, excluding employees at its Ambatovy nickel and cobalt mine, in Madagascar, as part of its company-wide restructuring process. Sherritt, which had started a process to sell its Toronto head-office... 

Barrick Gold reports narrower Q3 profit on lower sales, prices

By: Henry Lazenby The world’s largest gold producer by output, Barrick Gold, experienced narrower net earnings for the quarter ended September 30, as lower gold and copper sales, as well as lower realised prices impacted on its performance. The Toronto-based miner, with operations in North and South America,... 

Barrick Gold reports narrower Q3 profit on lower sales, prices

Report highlights economic impact of gold mining in Ontario

By: Henry Lazenby A recent independent report has highlighted the significant economic impact of Ontario’s mineral sector and found that all stakeholders – including miners, Aboriginal and other local communities, governments and supplier industries – benefitted from the sector’s activity. The University of... 

Cameco stock slides on production woes, expects possible 5% revenue dip

By: Henry Lazenby TORONTO (miningweekly.com) – Canadian uranium producer Cameco on Wednesday reported weaker-than-expected third-quarter results to shareholders, as labour and operational issues at two of its significant mines impacted on output and prompted the company's TSX-listed stock to trend lower. The... 

Cameco stock slides on production woes, expects possible 5% revenue dip

StratMin raises £800 000 through share placement

By: Natalie Greve Graphite production and exploration company StratMin Global Resources has raised £800 000 through the placing of 11.42-million new ordinary shares of 4p each at a placing price of 7p a share with certain existing and new institutional investors. The placing followed the signing by the company of... 

StratMin raises £800 000 through share placement

Resgen targets Oct 2015 for completion of Boikarabelo power supply infrastructure

By: Natalie Greve Coal asset developer Resource Generation (Resgen) continues to progress the development of its Boikarabelo coal mine, in the Waterberg region. The company said in a report for the three months ended September 30, that construction of the infrastructure for the mine, which boasted probable coal... 

Striking NUM to respond to revised Glencore offer on Thursday

By: Natalie Greve After embarking on a strike at Glencore’s Tweefontein operation over what it claimed were unfair deviations from the company’s standard retrenchment package, trade collective, the National Union of Mineworkers (NUM), will respond to a revised retrenchment settlement offer from the miner at the... 

Miller’s status changed from Firestone CEO to MD

By: Leandi Kolver Coal developer Firestone Energy on Wednesday announced that it had appointed former CEO and executive director Stephen Miller as MD of the company with immediate effect. Firestone said the terms and conditions of Miller’s engagement had not changed with his change of status to MD, which followed... 

Miller’s status changed from Firestone CEO to MD
Photo by Duane Daws
Firestone MD Stephen Miller

IDP review under way to integrate mining towns

By: SANews, SA government news service The Inter-Ministerial Committee (IMC) that was established to revitalise distressed mining towns has mobilised municipalities to review their Integrated Development Plans (IDPs) to pave the way for new-look mining towns.   Mpho Ndaba, the Director: Revitalization of Distressed Mining Communities... 

IDP review under way to integrate mining towns

300 a year doing mechanised mining courses at Wits centre

By: Martin Creamer Three hundred people a year are doing courses in mechanised mining offered by the University of the Witwatersrand Centre for Mechanised Mining Systems (CMMS). CMMS director Dr Declan Vogt, who was interviewed by Mining Weekly Online at the university, sees one of the centre’s main roles as... 

300 a year doing mechanised mining courses at Wits centre
Photo by Duane Daws
CMMS director Declan Vogt

R1bn set aside for initial Waterberg coal rail ramp-up to 26Mt

By: Terence Creamer State-owned freight logistics group Transnet will invest nearly R1-billion to facilitate an incremental increase in coal export volumes from Limpopo’s Waterberg to 26-million tons between 2015 and 2019. Transnet Freight Rail (TFR) CEO Siyabonga Gama indicated on Wednesday that the “interim”... 

R1bn set aside for initial Waterberg coal rail ramp-up to 26Mt
Photo by Duane Daws
Transnet Freight Rail CEO Siyabonga Gama

SA mining industry will look ‘very different’ in 20 years, says Baxter

By: Natalie Greve South Africa’s mining industry will continue to evolve over the coming decades, eventually transitioning into a mechanised, modernised and automated industry staffed by a highly skilled, well paid and lithe workforce, Chamber of Mines acting CEO Roger Baxter said on Wednesday. Describing the... 

SA mining industry will look ‘very different’ in 20 years, says Baxter
Photo by Duane Daws
Chamber of Mines acting CEO Roger Baxter

Strike-hit Impala’s platinum output down 25%, unit costs up 62%

By: Martin Creamer Strike-hit mining company Impala Platinum (Implats) has produced 25.5% fewer platinum ounces in the three months to September 30 than in the corresponding period last year. In line with reduced platinum production, group unit costs rose 62% to R26 698/oz of platinum, compared with R16 488/oz in... 

Strike-hit Impala’s platinum output down 25%, unit costs up 62%
Photo by Duane Daws
Implats CEO Terence Goodlace
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