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Nevsun denies Bisha human rights allegations in lawsuit

By: Creamer Media Reporter A lawsuit has been filed against Vancouver-based mining company Nevsun Resources in the British Columbia Supreme Court by three individuals who claim to have once worked with a local subcontractor at the Bisha mine, in Eritrea, on the Horn of Africa. The TSX-listed company said on Friday that the... 

Nevsun denies Bisha human rights allegations in lawsuit

Teck to spend $600m over 5 years to manage Elk Valley water quality

By: Creamer Media Reporter TSX-listed Teck Resources expects to spend an estimated $600-million over a five-year period on the installation of water diversions and water treatment facilities as part of the Elk Valley Water Quality Plan, approved by the British Columbia Ministry of Environment. This was on top of the... 

Mines need to cut emissions and increase renewables – Corporate Knights

By: Simon Rees As the population of the planet doubles between now and 2050, the drive to cut carbon emissions will continue to gather pace. At a recent meeting between heads of state in China, the US announced its intention to reduce carbon emissions by 26% to 28% by 2025. China declared its emissions would... 

Mines need to cut emissions and increase renewables – Corporate Knights

Quebec's ambitious Plan Nord mineral project goes south

By: Reuters A plan by the Canadian province of Quebec to spend billions to develop the mineral riches of its northern region has been dealt a crippling blow by the pending closure of a major mine as iron ore prices sink and China's interest wanes. The Plan Nord project hopes to attract C$80-billion... 

Callinex to target high-grade copper- and zinc-rich VMS deposits in Manitoba

By: Creamer Media Reporter TSX-listed Callinex Mines has adopted an aggressive new strategy to discover and develop high-grade copper- and zinc-rich volcanogenic massive sulphide (VMS) deposits. The company has identified its Flin Flon and Pine Bay projects as the focus of future exploration based on potential to host the... 

Peruvian government calls strike at biggest copper mine illegal

By: Reuters Peru's government on Thursday branded a 10-day long strike at the country's biggest copper and zinc mine illegal and the operating company Antamina urged laborers to return to work. The strike, which began on November 10 and stoked concerns about global copper and zinc supplies, includes more... 

SouthGobi seeks funding to pay delayed $8.1m interest to China Investment Corporation

By: Creamer Media Reporter TSX- and HKSE-listed SouthGobi Resources is delaying payment to the China Investment Corporation (CIC) of about $8.1-million in cash – the November 2014 instalment of cash interest due on the secured convertible debenture it entered into with a wholly owned subsidiary of the CIC. As of Thursday,... 

SouthGobi seeks funding to pay delayed $8.1m interest to China Investment Corporation
Ovoot Tolgoi

Wallbridge pays down additional debt by $1m

By: Creamer Media Reporter TSX-listed exploration and mining company Wallbridge Mining has successfully negotiated an early prepayment of $1-million on its $2-million debt owing to Callinan Royalties. This was pursuant to a line of credit (LoC) entered into with Callinan on December 12, 2012. The interest payable on the... 

Goldman and Metro defend aluminum warehousing

By: Reuters In an often-heated hearing before a U.S. Senate investigative subcommittee, Goldman Sachs Group Inc on Thursday rejected allegations that Wall Street banks exploited physical commodity markets to manipulate prices and gain unfair trading advantages. Led by Senator Carl Levin, who chairs the... 

Dominion Diamond reports ‘exceptional’ Q3 FY2015 production results for Ekati, Diavik

By: Creamer Media Reporter TSX-listed Dominion Diamond Corporation reported on Thursday that its Ekati and Diavik diamond mines performed exceptionally well in the third fiscal quarter of 2015, August through October, with rough diamond production, sales and pricing all exceeding plan.  Consistent with the two previous... 

First phase of Dingleton relocation project under way

By: David D‘ Oliveira The first phase of Kumba Iron Ore’s relocation of the Dingleton community in the Northern Cape officially got under way this week with the first households moved into their new homes in Kathu. The R4.2-billion relocation project was an important element of Kumba’s Sishen Mine’s western expansion,... 

Beacon Hill restructuring talks ongoing

By: Natalie Greve Responding to a jump in its share price, Beacon Hill reiterated on Friday that it remained in advanced negotiations with an unnamed development finance institution in relation to a new senior debt facility. The commodity producer’s shares on the LSE were trading up 5.8% to 0.09p on Friday... 

Kibo to restart uranium activities

By: Natasha Odendaal Dual-listed Kibo Mining is set to develop its currently idled uranium assets, in Tanzania, through a 50:50 joint venture (JV) partnership with Metal Tiger. The binding memorandum of understanding (MoU) inked this week with Aim-listed Metal Tiger would allow Kibo to pull the Pinewood portfolio out... 

Five mineral value-chains prioritised in South Africa’s draft beneficiation plan

By: Terence Creamer The Mineral Beneficiation Action Plan (MBAP), which is currently in draft form, should be finalised by the end of March 2015, the Department of Trade and Industry (DTI) has confirmed. The department is leading the drafting process, which also involves the National Treasury, the Economic... 

Five mineral value-chains prioritised in South Africa’s draft beneficiation plan
Photo by Duane Daws
Steel among the five resource value-chains being prioritised

Section 54 stoppages at Pan African to dent Nov output

By: Natalie Greve The issuing of two separate Section 54 notices at Pan African Resources’ Mpumalanga-based mines by the Department of Mineral Resources’ Mine Health and Safety Inspectorate (MHSI) this month is set to negatively impact gold production from the Barberton and Evander operations, the company said on... 

CRG inks second MoU for possible subsidiary sale

By: Natalie Greve Just over a week after entering into a nonbinding memorandum of understanding (MoU) with the Hiria Group, local gold producer Central Rand Gold (CRG) said on Friday that it had inked a separate MoU with Phoenix Tree Investment Group subsidiary Beijing Ankong Investment. The Ankong MOU, which was... 

Urgent action needed to end overstated diamond certification – World Federation

By: Martin Creamer Urgent action was needed to stop diamonds being sold with overstated certification, World Federation of Diamond Bourses president Ernie Blom said on Friday. Blom, who blamed a few laboratories for damaging the reputation of the entire diamond industry, urged stakeholders the world over to stand... 

Urgent action needed to end overstated diamond certification – World Federation
Photo by Duane Daws
Ernie Blom

Mwana subsidiary to issue bond to fund Bindura smelter restart

By: Creamer Media Reporter Multicommodity miner Mwana Africa’s 74.73%-owned Bindura Nickel Corporation (BNC) subsidiary has been granted prescribed asset (PA) status by the Zimbabwe Finance and Economic Development Minister Patrick Chinamasa. This would enable BNC to seek funding through the marketing of a fixed-term bond... 

Savannah raises £1.3m, terminates Bergen agreement

By: Leandi Kolver Aim-listed Savannah Resources on Friday advised that it had raised about £1.3-million through the placing of 29.48-million new ordinary shares with new and existing investors. The funds would be used for general working capital to fast-track exploration and development at the company’s copper... 

African Minerals considers partial sale of Tonkolili stake

By: Creamer Media Reporter London-listed African Minerals, which holds a 75% stake in the Tonkolili iron-ore mine, in Sierra Leone, is considering the partial sale of its interest in the project, as a means to deal with the immediate liquidity issues facing the project. Trading in the company’s shares on the LSE was... 

African Minerals considers partial sale of Tonkolili stake
Tonkolili

Australia's RBA upbeat on outlook for China resource demand

By: Reuters Chinese demand for Australian resources is likely to stay strong over the long run as the Asian giant continues to urbanise and mature into a consumer-led economy, a top central banker said on Friday. The Reserve Bank of Australia's (RBA) head of economic research, Alexandra Heath, acknowledged... 

Oil sands miners cleared of wrongdoing in bird deaths

By: Natalie Greve After reviewing the impact of oil sands mining operations by Canadian Natural Resources, Suncor Energy and Syncrude on the waterfowl population at the Athabasca oil sands area, the Alberta Energy Regulator (AER) has determined companies are “in full compliance” with waterfowl protection... 

NSW Premier vows to halve ‘unacceptably’ long project approvals time

By: Esmarie Swanepoel The New South Wales Minerals Council has welcomed a promise by Premier Mike Baird to halve the assessment time for major mining projects in the region, saying that it would attract investments and create jobs. Baird was quoted as saying that in the next term of government, the Planning... 

NSW Premier vows to halve ‘unacceptably’ long project approvals time

Panoramic to start new decline development at Lanfranchi mine

By: Esmarie Swanepoel Nickel miner Panoramic Resources on Friday announced that it would start the development of the Jury-Metcalfe decline, at its Lanfranchi operation, in Western Australia, following an amendment of the existing toll treatment and concentrate purchase agreement with mining major BHP Billiton.... 

Sandfire to invest strongly in organic growth – chair

By: Esmarie Swanepoel Copper/gold miner Sandfire Resources was committed to spending cash to increase production, despite the depressed commodity market, nonexecutive chairperson Derek La Ferla has told shareholders. Speaking at the company’s annual general meeting, La Ferla this week said the company would deploy... 

Taseko concludes acquisition of Curis, Florence copper project

By: Natalie Greve Copper miners Taseko Mines and Curis Resources have concluded a deal that will see Taseko acquire all issued and outstanding common shares in Curis – converting the Arizona-focused producer into a wholly owned Taseko subsidiary. Curis was focused on advancing its 100%-owned Florence copper... 

Russia's Amaam North proves viable for Tigers Realm

By: Esmarie Swanepoel A bankable feasibility study (BFS) into ASX-listed Tigers Realm Coal’s Amaam North project, in Russia, has revealed that the project could be one of the lowest operating cost coking coal mines in the world. Based on a planned production of about one-million tonnes a year of coking coal, over an... 

Gujarat hopes for halt of Wollongong raising

By: Esmarie Swanepoel India’s Gujarat NRE India has appealed to the Australian Takeovers Panel to halt an entitlement offer of ASX-listed Wollongong Coal, which was launched earlier this month. At the start of November, Wollongong Coal announced its intention to raise up to A$66.68-million through an accelerated pro... 

Kingsrose downgrades production expectations

By: Esmarie Swanepoel Gold miner Kingsrose Mining has downgraded its production expectations at the Talang Santo mine, in Indonesia, as the company deferred the mining of high-grade tonnes. For the 2015 financial year, Kingsrose was expected to produce between 30 000 oz and 35 000 oz of gold, instead of the... 

Jameson weighs options over cancelled applications

By: Esmarie Swanepoel ASX-listed coal hopeful Jameson Resources told shareholders on Friday that it would "explore its options" after the British Columbia Ministry of Energy and Mines cancelled five of the company’s outstanding applications on the Dunlevy project area. Jameson said in a statement that the Chief Gold... 

Mining sector reports 90% compliance as deadline to convert hostels into decent homes looms

By: Anine Vermeulen Since the promulgation of South Africa’s Mining Charter in 2004, the country’s mining sector, along with government, has been working towards eradicating single-sex hostels and unsanitary rented shacks, which have become the ‘normal’ living standards for mineworkers in South Africa. However, in... 

Mining sector reports 90% compliance as deadline to convert hostels into decent homes looms

Treasury Metals restarts Goliath drilling programme

By: Leandi Kolver TSX-listed Treasury Metals on Thursday said drilling at its flagship Goliath gold project, in northwestern Ontario, had restarted. The company stated that the initial 5 000 m drilling programme would comprise definition drilling of the main resource area, exploration of the new shallow high-grade... 

Gold industry not indefinitely sustainable at current gold price, says Holland

By: Natalie Greve Dual-listed Gold Fields is bracing itself for another year of softened gold prices, but CEO Nick Holland believes the bullion producer is well-positioned – from a debt level and production cost perspective – to weather the anticipated pricing environment. This local gold industry was not,... 

Gold industry not indefinitely sustainable at current gold price, says Holland
Photo by Duane Daws
South Deep

Bushveld starts PFS on vanadium play

By: Natasha Odendaal Aim-quoted Bushveld Minerals on Thursday said it had started a prefeasibility study (PFS) for its vanadium project, in Limpopo. The PFS was expected to be completed during the first half of 2015, with work on parts of the definitive feasibility study set to be undertaken while the PFS was under way. 

Seabridge to release new Deep Kerr resource estimate during Q1 2015

By: Leandi Kolver British Columbia-focused project developer Seabridge Gold expected to release a new resource estimate for its Deep Kerr deposit, in Northwestern British Columbia, Canada, during the first quarter of next year. The company on Thursday noted it was confident that the results from the project’s 2014... 

Vanguard appoints new board member and CFO

By: Creamer Media Reporter Nevada-based Vanguard Mining has appointed Madhava Rao Mankal new member of the board of directors and CFO to replace Hai Le, who resigned from this position on November 5. Vanguard Mining president Jalani Haniffa said: "We are delighted to welcome Rao to our board of directors and management... 

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