Au 1311.74 $/oz Change: -6.23
Pt 946.00 $/oz Change: -10.60

Email me free daily news

Email address

Wheaton Precious Metals portfolio biased 2/3 to gold as organic growth pipeline lags

By: Henry Lazenby     Updated 4 hours ago Canadian streaming firm Wheaton Precious Metals (WPM) has seen the proportion of precious metals in its production profile shift about two-thirds weighted to gold, as several of its silver-focused organic growth projects languish behind plan. The Vancouver-based company expects to produce... 

Wheaton Precious Metals portfolio biased 2/3 to gold as organic growth pipeline lags
Photo by Bloomberg
Wheaton Precious Metals CEO Randy Smallwood smiles during an interview at the Prospectors & Developers Association of Canada Convention, in Toronto

Despite bitcoin craze, bullion unlikely to lose its status as a major investment vehicle – economist

By: Nadine James     16th March 2018 Although some economists regard cryptocurrencies – bitcoin being the most popular – as a fad, others, such as Nascence Advisory director and economist Xhanti Payi, remain open-minded, unwilling to write off a potentially disruptive technology with massive implications for global economic... 

Despite bitcoin craze, bullion unlikely to lose its status as a major investment vehicle – economist

New Chile govt undecided on blocking SQM sale to China firms – official

By: Reuters     16th March 2018 Chile's new government is evaluating whether to support a petition filed by its predecessor to block the sale of a stake in top lithium miner SQM to a Chinese firm, a senior government official told Reuters on Friday. Chile development agency Corfo filed a complaint last week to block the sale... 

US legislation bodes well for Thor Mining's Nevada tungsten project

By: Simone Liedtke     16th March 2018 The US House of Representative's Natural Resources Committee has passed the National Strategic and Critical Minerals Production Act, which Aim- and ASX-listed Thor Mining said would benefit its Pilot Mountain tungsten project in Nevada. While further steps are required in the legislative process,... 

Mine accident shows a potash market nervous about outages

By: Bloomberg     16th March 2018 The news, when it came late Friday night from a government ministry in Minsk, was grim: the ceiling of a potash mine in Belarus had collapsed more than half a kilometre underground, trapping two workers. Halfway around the world, the reaction to the headlines was swift and dramatic. Shares of... 

Mine accident shows a potash market nervous about outages

Poland's KGHM targets rise in Chilean copper ore output

By: Reuters     16th March 2018 Polish copper producer KGHM said it expects daily copper ore output at its Chilean mine Sierra Gorda to increase by 18% next year from current levels. State-run KGHM acquired Chilean and Canadian copper deposits in 2011 when it bought Canada's Quadra FNX for $2-billion, the largest ever foreign... 

ARM's Motsepe predicts successful charter, land outcomes 

By: Martin Creamer     16th March 2018 The executive chairperson of diversified black-controlled mining company African Rainbow Minerals (ARM), Patrice Motsepe, on Friday expressed the firm conviction that South Africa was in the process of reinforcing its position as a competitive mining destination through a positive Mining Charter... 

African Rainbow Minerals executive chairperson Patrice Motsepe at presentation of 15% higher half-year earnings covered by Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer.

Bell Equipment delivers significantly better results

By: Marleny Arnoldi     16th March 2018 Heavy equipment manufacturer Bell Equipment has delivered significantly improved results in 2017, with profit rising to R272.1-million, from R38.6-million in 2016 when the company recorded operating losses of R185-million from its African operations outside South Africa.  

Papua Mining awarded exploration permit in Australia

By: Marleny Arnoldi     16th March 2018 London-listed exploration company Papua Mining has been granted, through its subsidiary BGM Investments, the Monarch exploration permit to mine in Queensland, Australia. The five-year exploration permit covers an area 10 km south of Charters Towers, where six-million ounces of gold has been... 

AfriTin completes geological mapping at Namibian tin project

By: Simone Liedtke     16th March 2018 Aim-listed tin miner AfriTin Mining has undertaken and completed detailed geological mapping over the V1 and V2 pegmatite bodies at its flagship asset Uis tin mine, in Namibia. The V1 and V2 bodies were previously identified as priority targets for ore to supply the new, intermediary plant, based... 

Avocet sells Norwegian subsidiary Wega

By: Simone Liedtke     16th March 2018 Gold mining and exploration company Avocet Mining has sold its wholly-owned Norwegian subsidiary Wega Mining and certain intercompany receivables to Natholmen for $400 000 in cash. The sale forms part of a larger restructuring effort involving its overdue loans totalling $29.2-billion to creditor... 

Erin Energy widens loss despite higher oil price lifting revenue

By: Simone Liedtke     16th March 2018 Oil and gas exploration and production company Erin Energy has widened its net loss to $151.9-million, or $0.71 a share, in 2017, from $142.4-million, or $0.67 a share in 2016. The loss comes despite a 30% increase in revenue to $101.2-million and lower exploration and production expenses. The... 

Wind body dismisses as ‘false’ link between IPPs and tariffs surge

By: Terence Creamer     16th March 2018 The South African Wind Energy Association (SAWEA) has dismissed as a “falsehood” claims by the National Union of Metalworkers (Numsa) and Transform RSA that the 27 renewable-energy projects, which the two organisations are seeking to block through a court challenge, will raise the cost of... 

Wind body dismisses as ‘false’ link between IPPs and tariffs surge

Norsk Hydro CEO says securing alumina to replace Alunorte output is priority

By: Reuters     16th March 2018 Norsk Hydro Asa sees securing alternative sources of alumina to replace reduced supplies at its Brazilian plant as a priority, CE Svein Richard Brandtzaeg told Reuters. Brazilian authorities ordered Norsk Hydro's Alunorte plant, the world's largest alumina plant, to cut output by half in late... 

Lonmin transaction filed with South Africa’s competition body

By: Marleny Arnoldi     16th March 2018 Precious metals producer Sibanye-Stillwater has filed a submission with the South African competition authorities regarding the proposed R5.15-billion acquisition of platinum group metals (PGMs) producer Lonmin.  

Lonmin transaction filed with South Africa’s competition body
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

African Rainbow Minerals ups earnings, declares dividend

By: Martin Creamer     16th March 2018 Diversified black-led mining company African Rainbow Minerals (ARM) on Friday announced a 15% increase in headline earnings for the six months to December 31 to R1 945 million. This increase was mainly as a result of improved headline earnings from the manganese division, ARM Coal, Modikwa... 

Iron-ore gives South Africa’s January mining output a boost

By: Marleny Arnoldi     16th March 2018 Mining production increased by 2.4% year-on-year in January, bolstered by strong growth in iron-ore production and “other” non-metallic minerals, Statistics South Africa figures how. The January growth compares with a contraction of 0.5% in December. 

Kingsrose swings back to profit as revenue triples

By: Esmarie Swanepoel     16th March 2018 Gold miner Kingsrose Mining has tripled its revenue for the six months to December, as gold production at the Way Linggo project, in Indonesia, increased. Revenue for the interim period reached A$26.9-million, up from the A$8.96-million reported in the previous corresponding period, as gold... 

Kingsrose swings back to profit as revenue triples

Mincor approves A$2.2m WA gold project

By: Esmarie Swanepoel     16th March 2018 The board of ASX-listed Mincor has approved the A$2.2-million development of the Widgiemooltha gold project, in Western Australia, following the completion of an enhanced feasibility study. The project is expected to recover 71 700 oz of gold over an initial two-and-a-half year mine life, with... 

TNG signs co-op agreement with contractors

By: Esmarie Swanepoel     16th March 2018 ASX-listed TNG has inked a cooperation agreement with contractors McMahon Services and Clough Projects to provide construction services for the Mount Peake vanadium/titanium/iron project, in the Northern Territory. The agreement will see McMahon and Clough joint venture (JV) to review the Mt... 

Triton rebalances cash after Grafex buy

By: Esmarie Swanepoel     16th March 2018 ASX-listed Triton Minerals will raise A$5.2-million through a share placement and entitlement issue to fund work at its Ancuabe project, in Mozambique, and to accelerate the review of the vanadium development potential at the Nicanda Hill graphite project. Triton will place some 12.5-million new... 

Mt Burgess hunts for vanadium in Botswana

By: Esmarie Swanepoel     16th March 2018 The share price of junior Mount Burgess Mining skyrocketed by nearly 72% on Friday as the company revealed plans to conduct an in-depth review of the vanadium content of its Kihabe project, in Botswana. Mount Burgess told shareholders that with the recent increase in the vanadium price, and its... 

Draig raises cash for Bellevue project

By: Esmarie Swanepoel     16th March 2018 Gold developer Draig Resources has raised A$8-million through a share placement to advance its Bellevue gold project, in Western Australia. The company has placed 40-million shares, at a price of 20c each, to raise the capital. The shares were placed under the company’s existing capacity. 

Hammer divests of Mt Isa projects

By: Esmarie Swanepoel     16th March 2018 Junior explorer Hammer Metals has taken the decision to divest of its Mt Dorothy and Cobalt Ridge tenements, in Queensland. The company on Friday announced a letter of intent with TSXV-listed Global Energy Metals Corporation (GEMC) to divest of its interest in the eight non-contiguous sub blocks... 

Russian diamond company Alrosa posts 28% profit fall

By: Reuters     16th March 2018 Russian diamond producer Alrosa suffered a sharp fall in core profit last year, hit by lower prices for its gems. The world's largest producer of rough diamonds said that earnings before interest, taxation, depreciation and amortisation (Ebtida) fell 28% to 126.9-billion roubles, broadly meeting... 

Relaxed export, production quotas an 'inflection point' for Chile's lithium industry

By: Henry Lazenby     16th March 2018 In the days following conservative billionaire Sebastian Pinera being sworn in as president of Chile for a second term on Sunday, the new government is signalling a more relaxed approach to the hot-button issue of lithium production and exports. This week's announcement that the Chilean Nuclear... 

Relaxed export, production quotas an 'inflection point' for Chile's lithium industry

Kinross adopts new 'poison pill'

By: Henry Lazenby     16th March 2018 Dual-listed miner Kinross Gold has adopted a new shareholder rights plan to replace the expiring existing document from March 29, the company announced on Thursday. The new plan will ensure that Kinross and its shareholders continue to receive the benefits associated with the current shareholder... 

Venezuela gold reserve value falls 14% in 2017

By: Reuters     16th March 2018 Gold held by Venezuela's central bank fell 14% in value in 2017 compared with the previous year, according to the bank's financial statement. Gold represents just under 70% of the bank's international reserves, which at the end of 2017 totaled $9.67-billion. 

ETF holders draw palladium with lease rate double bond yield

By: Bloomberg     16th March 2018 For all the talk about rising US interest rates damping the allure of precious metals, palladium is proving to be a profitable asset to own. Borrowers pay holders of palladium 6% to use the metal for a week, data compiled by Bloomberg show. While that’s little changed this year, the lease rate... 

Glencore, Randgold mines quit Congolese industry body ahead of govt talks

By: Reuters     16th March 2018 Mines run by Glencore, Randgold Resources and three other international companies have quit the Democratic Republic of Congo's chamber of commerce, saying the industry body does not adequately represent their interests after the introduction of a new mining law. The miners said in a joint... 

Russian billionaire Potanin buys 2% of Nornickel from Abramovich

By: Reuters     15th March 2018 Russian billionaire Vladimir Potanin's Interros Holding said it had completed the purchase from businessman Roman Abramovich of a 2% stake in Norilsk Nickel, which has been the subject of a legal battle. Abramovich struck a provisional deal last week that allowed him to sell a 4% stake in... 

Mining companies to engage with DRC on new mining code

By: Marleny Arnoldi     15th March 2018 A legal and technical team representing the major mining companies operating in the Democratic Republic of Congo (DRC) arrived in Kinshasa on Thursday for 30 days of engagement with the government on its new mining code.  

Russian-Zimbabwean firm to invest $400m in Zimbabwe platinum

By: Reuters     15th March 2018 Great Dyke Investments (GDI) said on Thursday it would invest around $400-million to build a precious metals mine and smelter in Zimbabwe, as the country opens up to international business. The joint venture between Russia's Afromet and Zimbabwe's Pen East expects to produce up to 855 000 oz (27... 

Zimbabwe's coal output set to quadruple as investors arrive

By: Reuters     15th March 2018 Zimbabwe has attracted around $300-million in its coal industry that will quadruple production next year versus 2017, its Mining Minister told an investment conference in London on Thursday. The country, which says its abundant mineral resources include more than 40 exploitable minerals, is... 

South Africa discount no longer warranted, say analysts

By: Martin Creamer     15th March 2018 The so-called 'South Africa discount' that has dogged and diminished the share prices of mining companies operating in South Africa for decades, has been declared "unwarranted" by Goldman Sachs Europe Metals & Mining Equity Research analysts, against the backdrop of the winds of political change... 

South Africa discount no longer warranted, say analysts
Photo by Goldman Sachs
Share prices of Glencore and Anglo at 2013 levels, despite higher earnings, lower debt

Cobalt to be declared a strategic mineral in the DRC

By: Reuters     15th March 2018 Democratic Republic of Congo will declare cobalt and coltan, used in electric vehicle and renewable energy technology, as "strategic" minerals which will earn the country higher royalties, an adviser to the Prime Minister said on Wednesday. A new mining code was signed into law on Friday by... 

Georgian agrees terms for Kvemo Bolnisi development

By: Creamer Media Reporter      15th March 2018 London-listed Georgian Mining and its joint venture (JV) partner Caucasian Mining have agreed on terms for the development of the Kvemo Bolnisi (KB) copper/gold project, in the Tehtyan Belt in Georgia. The parties have settled on funding the JV company, Georgian Copper and Gold (GCG), on a 50:50... 

Iron-ore mines in Goa close down

By: Ajoy K Das     15th March 2018 Iron-ore mining in the western Indian coastal province of Goa came to a halt on Thursday in accordance with an order issued by the Supreme Court last month. However, even as miners downed shutters and evacuated equipment from mines, on Wednesday night a Goa government Cabinet Committee... 

Iron-ore mines in Goa close down

Popular Articles This Week


Other Popular Articles

Company Post


Services News

Consulting Engineers

Contract mining

Crushing and Screening

Drilling and Tunnelling


Energy Services


Furnaces and Kilns

Material Handling




Latest Videos

ARM's Motsepe predicts successful charter, land outcomes

New platform to help resolve cross border mining services constraints

Resources Watch

S African foundry aims to expand footprint in North America

Innovation, digitalisation taking center stage

Coal, rapid loadout projects under construction - Exxaro

Coal miner Exxaro declares innovation an imperative

Exxaro negotiating new business opportunities beyond mining


Press Office


RSS Feed


Mining Weekly is a product of Creamer Media.

Other Creamer Media Products include:
Engineering News
Research Channel Africa

Read more


We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store


Advertising on is an effective way to build and consolidate a company's profile among clients and prospective clients. Email

View options
Free daily email newsletter Register Now