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Commodity price indices rally as oil picks up where metals left off

By: Henry Lazenby     27th May 2016 Commodity price indices have rallied in recent weeks as strong performance by oil softened the lull in metals price movements. Scotiabank's commodity price index had improved by 4.5% month-over-month in April as energy gains more than offset metals weakness. 

Claim against Vedanta, KCM given the green light to proceed in court

By: Samantha Herbst     27th May 2016 A legal claim on behalf of 1 826 Zambian villagers against global diversified metals and mining company Vedanta Resources and its Zambian subsidiary Konkola Copper Mines (KCM) has been given the go-ahead by a High Court judge to proceed in the UK courts. The ruling, handed down on Friday, follows... 

Canadian gold producer invests $11m in embattled Vantage Goldfields

By: Samantha Herbst     27th May 2016 Canadian gold producer AfroCan Resources Gold will invest $11-million over the next two months into South African gold miner Vantage Goldfields, effective June 1, following an agreement signed Friday, Vantage confirmed to Mining Weekly Online. The companies noted in a join statement that AfroCan,... 

Cleaver is new De Beers CEO

By: Martin Creamer     27th May 2016 Bruce Cleaver, 51, is the new CEO-designate of De Beers. He will take over from Philippe Mellier on July 1. After a half-decade at the helm, Mellier, who is ten years Cleaver’s senior, has honoured his commitment to step down as CEO after five years. 

Cleaver is new De Beers CEO
Photo by Creamer Media
New CEO-designate of De Beers Bruce Cleaver

Mozambique seeks to handle commodity price falls and secret debt crisis

By: Keith Campbell     27th May 2016 A Mozambican government minister has called on mining companies working in the country to focus on the future as it battles though the current economic downturn. Justice Minister Isaque Chande urged them to plan and execute structural measures to secure their investments. He was speaking at a... 

PTM closes $33m financing

By: Henry Lazenby     26th May 2016 Canadian project developer Platinum Group Metals (PTM) has closed a public offering of common shares to raise $33-million. The Vancouver-based company had issued 11-million common shares at $3 each. 

WTI, Brent crude rises above $50 for first time this year

By: Henry Lazenby     26th May 2016 Hamstrung oil producers could on Thursday afford a brief sigh of relief as the prices of both West Texas Intermediate (WTI) and Brent crude rose briefly above the psychologically important $50/bl-mark in early trading. WTI hit a high of $50.21/bl around 08:00 Eastern Daylight Time, while Brent... 

WTI, Brent crude rises above $50 for first time this year

‘Steel committee’ to be set up to monitor AMSA’s ‘fair pricing’ pledge

By: Terence Creamer     26th May 2016 Government would, within weeks, finalise a “fair pricing” agreement with steel producer ArcelorMittal South Africa (AMSA) and establish a “steel committee” to monitor implementation of the formula, which would be based on a basket of selling prices in Europe, Asia and North America. Department of... 

‘Steel committee’ to be set up to monitor AMSA’s ‘fair pricing’ pledge
Photo by Duane Daws
DTI deputy director-general for industrial policy Garth Strachan

Continually flipped Moz gold project goes for $17.5m

By: Martin Creamer     26th May 2016 The Manica gold project in Mozambique, which has been bought and sold several times in recent years, is being disposed of once more. On two occasions the disposals have been conducted under the same management head – Jan Nelson, who announced on Thursday that his London Aim-listed Xtract had... 

Continually flipped Moz gold project goes for $17.5m
Photo by Duane Daws
Xtract CEO Jan Nelson

Wescoal says water-use licence for Khanyisa granted

By: Natasha Odendaal     26th May 2016 JSE-listed Wescoal has been granted a 20-year water-use licence for its opencast Khanyisa colliery, in Mpumalanga. The licence, issued by the Department of Water and Sanitation, was effective immediately; however, the company still required additional regulatory consents from the Department of... 

Pan African raising cash for BEE toughening, funding headroom

By: Martin Creamer     26th May 2016 Gold-, platinum- and coal-mining company Pan African Resources told shareholders on Thursday that it would be raising equity capital to cement its black economic-empowerment (BEE) compliance and provide it with financial headroom for swift access to organic and acquisitive growth opportunities.... 

Pan African raising cash for BEE toughening, funding headroom
Photo by Duane Daws
Pan African CEO Cobus Loots

Sphere sees $14m loss after suspending development at Askaf

By: Samantha Herbst     26th May 2016 Having decided to slow down development at its main Askaf iron-ore project, in Mauritania, in October, Glencore subsidiary Sphere Minerals reported a net loss of $14-million from continuing operations after income tax for the year ended December 31, compared with a loss of $311.9-million for the... 

Liberia grand jury indicts Sable Mining, officials for bribery

By: Reuters     26th May 2016 A grand jury in Liberia on Wednesday indicted government officials, including the speaker of parliament and the head of the ruling party, along with Aim-listed Sable Mining on charges including bribery. President Ellen Johnson Sirleaf ordered an inquiry into Sable's acquisition of an iron ore... 

Bass Metals to move forward with Madagascar graphite buy

By: Mariaan Webb     26th May 2016 Australia’s Bass Metals said on Thursday that it would move ahead with the acquisition of a large flake graphite mine in Madagascar. Announcing the completion of a due diligence, chairperson Rick Anthon said that the acquisition of the operating Graphmada mine from Aim-listed Stratmin Global... 

Ministers stall on banks intervention over Gupta blacklisting

By: News24Wire      26th May 2016 The ministers tasked with intervening in the ongoing stand-off between South Africa’s big four banks and the Gupta-owned Oakbay Investments have missed their deadline. Minister in the Presidency Jeff Radebe told Parliament via a written reply to the Democratic Alliance on Wednesday that the... 

Ministers stall on banks intervention over Gupta blacklisting

New highly profitable acid mine water solution unveiled

By: Creamer Media Reporter      26th May 2016 Trailblazer Technologies has developed a process to convert acid mine water into valuable fertiliser materials with purified water.  

New highly profitable acid mine water solution unveiled

New acid mine water process has huge agri potential in arid areas  

By: Martin Creamer     25th May 2016 The newly developed process that yields handsome profits by converting acid mine water into valuable fertiliser materials, also has the potential to process South Africa’s large volumes of currently unusable brackish groundwater. The use of the process that eradicates acid mine drainage (AMD) for... 

New acid mine water process has huge agri potential in arid areas
Photo by Duane Daws
Trailblazer Technolgies director John Bewsey

AMSA insists fair pricing does not equate to no price increases

By: Terence Creamer     25th May 2016 Steel producer ArcelorMittal South Africa (AMSA) dismissed suggestions again on Wednesday that its deal with government to raise steel import protection in return for fairer pricing – as well as jobs and investment guarantees – precluded it from increasing prices. The JSE-listed company was... 

AMSA insists fair pricing does not equate to no price increases
AMSA chairperson Mpho Makwana

Silicosis class-action status impacts on local common law

By: David Oliveira     25th May 2016 The Johannesburg High Courts’ decision earlier this month to give 69 mineworkers and silicosis sufferers the right to institute class action against 32 current and historical South African gold mining companies would have far-reaching implications for the country’s common law, according to law... 

DA urges IDC to give Guptas 'a wide berth'

By: News24Wire      25th May 2016 The Industrial Development Corporation (IDC) should “follow the lead of the commercial banks and give the president’s pals (the Guptas) a wide berth in future”, the Democratic Alliance (DA) said on Wednesday. DA MP Michael Cardo was officially responding to Economic Development Minister Ebrahim... 

DA urges IDC to give Guptas 'a wide berth'
Photo by Duane Daws
IDC CEO Geoffrey Qhena

Tanzania plans to invest $1.9bn/y in energy projects to 2025

By: Reuters     25th May 2016 Tanzania plans to invest $1.9-billion each year to 2025 in energy projects in a bid to end power shortages and boost industrial growth in East Africa's second-biggest economy, its prime minister said. Tanzania aims to boost power generation capacity to 10 000 MW from around 1 500 MW at present,... 

Tanzania plans to invest $1.9bn/y in energy projects to 2025

Capital Mining eyes another lithium acquisition

By: Mariaan Webb     25th May 2016 ASX-listed Capital Mining was in “advanced stage” negotiations about a lithium acquisition, the company revealed on Wednesday. Capital Mining, which earlier this month announced a sales and purchase agreement to buy Shaw River Lithium and its 13 prospecting licences in the Pilbara, said it was... 

Capital Mining eyes another lithium acquisition
The demand for lithium-ion batteries is increasing, prompting more junior mining companies to enter the lithium sector.

Resources Watch

     25th May 2016 This week: Minister launches long-term acid mine water solution Government push can make South African mining fly again And, fatigue management prevents accidents and enhances output 

Resources Watch

Christie’s to sell 24.18 ct Cullinan Dream diamond for up to $29m

By: Creamer Media Reporter      25th May 2016 Auction house Christie’s will, next month, auction off the Cullinan Dream – a 24.18 ct fancy intense blue Type IIb diamond – that is expected to sell for between $23-million and $29-million. The diamond was cut from a larger 122.52 ct diamond discovered at Petra Diamonds’ Cullinan mine, in South... 

Christie’s to sell 24.18 ct Cullinan Dream diamond for up to $29m
The cut-cornered rectangular mixed-cut fancy intense blue Cullinan Dream diamond, flanked on either side by a tapered baguette-cut diamond, weighing a combined 2.36 ct, is mounted in a size six platinum ring

Freeport staff to oversee transition at Tenke copper mine in Congo

By: Reuters     25th May 2016 The Chinese company buying Freeport McMoRan Inc's majority stake in the Tenke copper mine has told the Congolese government that Freeport staff will oversee the operation for a transitional period of 12 to 18 months, an adviser to the prime minister said on Tuesday. A delegation from China... 

RBCT CEO to stand down

By: Martin Creamer     24th May 2016 Richards Bay Coal Terminal (RBCT) CEO Nosipho Siwisa-Damasane will be stepping down after four years at the helm. RBCT said on Tuesday that GM finance Alan Waller would be taking over as CEO from July 1, when GM strategy and compliance Casper Mbuyazi would assume the finance role. 

RBCT CEO to stand down
RBCT CEO Nosipho Siwisa-Damasane

Anglo American Zimele, Jobs Fund support agricultural entrepreneurs

     24th May 2016 Anglo American’s enterprise development arm Zimele has collaborated with the National Treasury’s Jobs Fund to support the establishment of 490 agricultural entrepreneurs through projects such as the Lambasi agricultural initiative – a jointly owned farming operation trading as Fundirite, in the... 

New highly profitable acid mine water solution unveiled 

By: Martin Creamer     24th May 2016 A process has been developed that yields handsome profits by converting acid mine water into valuable fertiliser materials. The process, which purifies the water free of charge, removes all of the total dissolved solids and converts them into saleable products. 

New highly profitable acid mine water solution unveiled
Photo by Duane Daws
Trailblazer director John Bewsey (right) and Martin Creamer

Unionised employees strike at Kinross Gold’s Mauritania mine

By: Samantha Herbst     24th May 2016 Following a strike notice issued earlier this month, unionised employees at Kinross Gold's Tasiast mine, in Mauritania, on Tuesday embarked on strike action. Kinross said in a statement that it remained open to restarting negotiations on a new collective agreement and to resolve other outstanding... 

Diamcor expects to complete additional boreholes at Krone-Endora by end-June

     24th May 2016 TSX-V-listed Diamcor Mining expects to have four additional boreholes at its Krone-Endora at Venetia project, in South Africa’s Limpopo province, completed by the end of the June quarter. This followed the award, last month, of a 15-year water-use licence, granting the company permission to... 

Oil and gas discoveries at 64-year low as price slump hits exploration budgets

By: Creamer Media Reporter      24th May 2016 Conventional oil and gas discoveries outside North America have fallen to the lowest level since 1952, with recoverable resources of only 12-billion barrels of oil equivalent having been discovered in 2015. Analysis from NYSE-listed IHS, which was published on Tuesday, showed that the volume of... 

De Beers ‘encouraged’ by stable rough diamond demand

By: Creamer Media Reporter      24th May 2016 Although De Beers’ rough diamond sales were lower for the fourth sales cycle of this year than in the third, the diamond miner said it was “encouraged by the continued stability of demand for rough diamonds”. De Beers sold about $630-million of diamonds in the fourth sales cycle up to May 23,... 

De Beers ‘encouraged’ by stable rough diamond demand

Auroch enters lithium sector with Tanzania project acquisition

By: Mariaan Webb     24th May 2016 Australia’s Auroch Minerals has entered the lithium sector with the acquisition of the Hombolo project, in Tanzania, as the company seeks to take advantage of the strong outlook for lithium from the battery market. Auroch, which recently sold its Manica gold project to Xtract Resources, had made... 

Transnet appoints chief information officer

     24th May 2016 Transnet has appointed Makano Mosidi chief information officer (CIO), effective June 1. Mosidi will report to group CE Siyabonga Gama in line with the group’s objective of ensuring that digitalisation is central to driving innovation efficiency and cost effectiveness across all operations. She is... 

IMX advances plans to list pure play graphite entity

By: Mariaan Webb     24th May 2016 Australia’s IMX Resources was advancing plans to restructure its Tanzanian assets, announcing on Tuesday that it had received conditional approval from the ASX to list its pure play, graphite-focused entity, Graphex Mining. The company, which would shortly announce an expected date for the... 

IMX advances plans to list pure play graphite entity

First permanent infrastructure being built at new DRC tin mine

By: Martin Creamer     23rd May 2016 The first permanent mining infrastructure is being built at the proposed new tin mine at Bisie, in the Democratic Republic of Congo (DRC), for which $130-million is being raised. Alphamin Resources CEO Boris Kamstra said the return airway drive being built would be used to acclimatise mining... 

First permanent infrastructure being built at new DRC tin mine
Photo by Duane Daws
Alphamin CEO Boris Kamstra

S&P's downgrade will tip South Africa into job-shedding recession, bank economist warns 

By: Terence Creamer     23rd May 2016 A downgrade of South Africa’s credit rating to junk was currently only partially priced in, a leading bank economist warned on Monday, arguing that a negative assessment by Standard & Poor’s (S&P’s) on June 3 would most probably trigger a recession and precipitate the shedding on around 200 000... 

S&P's downgrade will tip South Africa into job-shedding recession, bank economist warns
Photo by Duane Daws
Standard Bank chief economist Goolam Ballim

Aureus hopes to resume New Liberty processing operations within weeks

By: Creamer Media Reporter      23rd May 2016 Dual-listed Aureus Mining expects to resume processing operations at its New Liberty gold mine, in Liberia, within two weeks, pending approval from the Liberia Ministry of Lands, Mines and Energy (MLME). The company earlier this month said it had temporarily suspended processing operations at the... 

Aureus hopes to resume New Liberty processing operations within weeks
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