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Canadian junior miner sector's market cap up 6%

By: Creamer Media Reporter      11th December 2018 After several years of financial turmoil, followed by a gradual recovery, the Canadian junior mining sector has experienced a relatively quiet year in 2018, but advisory group PwC believes the sector is coming out of the bottom of the cycle and that optimism has returned. According to PwC... 

Canadian junior miner sector's market cap up 6%

Anglo anticipates continual production growth to 2022 

By: Marleny Arnoldi     11th December 2018 Diversified miner Anglo American is targeting incremental yearly earnings before interest, taxes, depreciation and amortisation (Ebitda) of between $3-billion and $4-billion by 2022. CE Mark Cutifani on Tuesday said the group had completely transformed the quality of its asset portfolio and its... 

Anglo anticipates continual production growth to 2022
Anglo American CEO Mark Cutifani

Sibanye condemns violent protest at its South African gold mines 

By: Simone Liedtke     11th December 2018 Dual-listed Sibanye-Stillwater on Tuesday said the situation at its Beatrix gold operations, in the Free State, were tense amid continuing violent actions by groups allegedly affiliated to the Association of Mineworkers and Construction Union (AMCU). “In the early hours of December 11, various... 

Big coal wants consumers to pay for fixing its pollution problem

By: Bloomberg     11th December 2018 Some of the world’s biggest fossil-fuel producers are calling on taxpayers to help them kick their pollution habit. The world’s biggest oil, natural gas and mining companies are stepping up their campaign to deploy carbon capture and storage, or CCS, as way to slow global warming. But with a... 

Capstone to debottleneck Cozamin

By: Mariaan Webb     11th December 2018 The Cozamin mine, the foundation upon which Canadian base metals miner Capstone Mining has been built, is set for a 30% production increase by the end of 2020, at an investment of less than $5-million. Production is currently constrained by the mine’s ability to deliver ore to the surface, but... 

Yet another invasion at Aura's Honduras mine

By: Mariaan Webb     11th December 2018 Midtier gold and copper miner Aura Minerals has suspended mining operations at its San Andres mine, in Honduras, following another illegal invasion by a number of individuals. The illegal occupation follows a similar event earlier this year, which in July led to the company laying off 44... 

Five positions eliminated in New Gold management shakeup

By: Mariaan Webb     11th December 2018 Canada-focused New Gold eliminated five senior management positions in a reorganisation aimed at better aligning its corporate structure with a smaller asset base, following the divestment of the Mesquite and Peak mine earlier this year. The restructuring eliminated the positions of VP,... 

Newcrest moves on two Chile gold projects

By: Mariaan Webb     11th December 2018 Australia-based gold major Newcrest Mining has expressed an interest in farming into the Gorbea projects, in Chile, which fellow major Yamana Gold previously explored in a joint venture with Mirasol Mining. Newcrest, which is already participating in other JVs with Mirasol, has signed a heads of... 

Alacer gains nearly 300 000 oz from Ardich

By: Esmarie Iannucci     11th December 2018 Gold miner Alacer Gold has reported a maiden mineral resource of 294 000 oz of gold at an average grade of 1.32 g/t gold for its Ardich oxide gold deposit, some 6km from its Çöpler gold mine. The project also hosts an inferred mineral resource of 85 000 oz, at an average grade of 1.2 g/t gold. 

Lydian turns to court to lift environmental order

By: Creamer Media Reporter      11th December 2018 The Administrative Court of Armenia has accepted Lydian International’s lawsuit appealing a directive by the head of the Environmental and Mining Inspection Body, which ordered a stop to mining-related activities at the Amulsar project, owing to sightings of newly-found red-listed plants and... 

Lydian turns to court to lift environmental order
The Amulsar site, in Armenia.

Zambian mines warn tax changes could lead to 21 000 job losses

By: Bloomberg     11th December 2018 Zambia’s planned mining royalty increases could lead to more than 21 000 job losses and operators cutting $500-million in capital spending over the next three years, an industry lobby group said. Members of the Chamber of Mines, which represents companies including Glencore, First Quantum... 

Paringa appoints US-based CEO

By: Esmarie Iannucci     11th December 2018 Coal developer Paringa Resources has appointed Egan J Antill as CEO and MD, effective from December 12. Antill studied engineering at the University of Queensland and has worked for Mount Isa Mines and Caterpillar of Australia. He completed an MBA at Yale and spent 20 years in investment banking... 

Botswana’s Mowana copper mine suspends operations over working capital

By: Reuters     Updated 51 minutes ago Mowana Mine, Botswana's only operating copper mine, has suspended operations due to working capital constraints which has seen the company fail to pay salaries and suppliers, it said on Tuesday. Mowana had a conditional $4-million working capital facility from Fujax Minerals and Energy Limited,... 

Amplats lowers production guidance for next three years

By: Marleny Arnoldi     11th December 2018 Anglo American Platinum (Amplats) on Tuesday said its production guidance would change from January 1, 2019, as Sibanye-Stillwater’s platinum group metals material would no longer be bought as concentrate, but toll treated, with the refined metal returned to Sibanye. Resultantly, metal in... 

South Africa’s mining production increases 0.5% y/y – Stats SA

By: Tasneem Bulbulia     11th December 2018 Mining production lifted marginally, by 0.5% year-on-year, in October, primarily on the back of strong growth in platinum group metals (PGMs), diamonds and manganese ore output, according to Statistics South Africa (Stats SA). Production of PGMs, which occupy the second-highest weighting in the... 

Steenkampskraal to progress BFS following court case conclusion

By: Marleny Arnoldi     11th December 2018 Steenkampskraal Holdings (SHL) will now proceed with a bankable feasibility study (BFS) at its Steenkampskraal rare earths mine, in the Western Cape, following the conclusion of a court case between SHL and contractor ERES Engineering Projects. The High Court last week rescinded the contracts... 

Zambia Chamber of Mines welcomes new president

By: Simone Liedtke     11th December 2018 The Zambia Chamber of Mines has appointed Goodwell Mateyo as its new president. He succeeds Nathan Chishimba, who is retiring after two consecutive terms. Seasoned industry veteran Nicolas Bowen will serve as VP. 

New Mining Indaba competition draws attention to young talent in mining

By: Marleny Arnoldi     11th December 2018 Mining Indaba, which will be held at the Cape Town International Convention Centre from February 4 to 7, will introduce a new feature for 2019 – the Leaders of Tomorrow competition. The competition is part of the event’s young leaders programme, which is being produced in partnership with... 

In Eskom's case, does Mboweni feel a photo is worth 1 000 words?

By: Bloomberg     11th December 2018 Not long after Eskom told fund managers in London that the troubled power utility planned to ask South Africa’s National Treasury to assume R100-billion of its debt, the country’s new Finance Minister Tito Mboweni tweeted a picture of a sieve. The tweet, two days later, may have been a simpler... 

Harmony, Newcrest sign Wafi-Golpu gold mining project MoU with PNG govt  

By: Tasneem Bulbulia     11th December 2018 Harmony Gold and its Wafi-Golpu Joint Venture (WGJV) partner Newcrest Mining on Tuesday signed a memorandum of understanding (MoU) with the Independent State of Papua New Guinea, as an affirmation of the parties’ intent to proceed with the Wafi- Golpu gold mining project in Papua New Guinea. 

Kibo again extends development agreement deadline with Sepco III

By: Tasneem Bulbulia     11th December 2018 Dual-listed Kibo Energy’s board has elected to extend the deadline for the final confirmation of the strategic development agreement (SDA) with Sepco III for the Mbeya coal-to-power project (MCPP), in Tanzania, for a further four months to March 30, 2019. It has been agreed that this is a period... 

MC secures mining right for Chapudi project

By: Tasneem Bulbulia     11th December 2018 South Africa’s Department of Mineral Resources (DMR) has granted MC Mining a mining right for its 74%-owned Chapudi coking and thermal coal project, in the Limpopo province. The Chapudi project, together with the Mopane and Generaal projects, comprise the company’s longer-term Greater... 

MC secures mining right for Chapudi project
Photo by Creamer Media
MC Mining CEO David Brown

Rio Tinto partner says yet to make big copper find at Western Australia site

By: Reuters     11th December 2018 Exploration by Rio Tinto at one of its sites in a part of Western Australia that has been touted as potentially rich in copper has so far failed to find any economically viable veins of ore, the miner's partner in the project said on Tuesday. Antipa Minerals lodged a series of exploration... 

Oil Search secures $300m in revolving credit

By: Esmarie Iannucci     11th December 2018 ASX-listed Oil Search has established $300-million corporate bilateral revolving credit facilities, providing the company with more financial flexibility. The company has entered into three separate $100-million bilateral revolving credit facilities with three major banks, Commonwealth Bank of... 

Thalanga output set to rise - Red River

By: Esmarie Iannucci     11th December 2018 Ore production from the Far West underground mine, at the Thalanga zinc project, in Queensland, is expected to start in the first quarter of 2019. Owner Red River Resources on Tuesday reported that ore from the Far West underground would augment the West 45 ore, and would increase production at... 

Qld extends backing for Ravenswood expansion

By: Esmarie Iannucci     11th December 2018 The Queensland government has extended the Prescribed Project status of ASX-listed Resolute Mining’s Ravenswood expansion project until the end of November 2020. The Prescribed Project declaration is designed to facilitate the approvals process for projects deemed to be of particular economic... 

Australia aims to grab ‘once-in-a-generation’ lithium-ion battery opportunity

By: Esmarie Iannucci     11th December 2018 The Association of Mining and Exploration Companies (AMEC) has welcomed a new report by federal Trade, Tourism and Investment Minister Simon Birmingham, on the lithium-ion battery value chain. “Lithium-ion battery technology has enabled the mobile device revolution and is driving innovation and... 

Australia aims to grab ‘once-in-a-generation’ lithium-ion battery opportunity

Aussie gold juniors announce merger

By: Esmarie Iannucci     11th December 2018 ASX-listed juniors Intermin Resources and MacPhersons Resources have struck a merger agreement to create a gold company holding some 1.15-million ounces of gold. Under the terms of a scheme of arrangement, one Intermin share will be issued for every 1.8227 MacPhersons shares held, valuing the... 

Oil holds drop on doubts over Opec curbs and US supply threat

By: Bloomberg     11th December 2018 Oil held its biggest loss in two weeks as uncertainty over how the Opec+ coalition will implement its output cuts and the prospect of surging US supplies kept investors wary. Futures in New York were little changed, after Monday’s 3.1% drop erased gains following last week’s pact between Saudi... 

PDAC appoints new executive director

By: Creamer Media Reporter      11th December 2018 The Prospectors and Developers Association of Canada’s (PDAC's) board has hired Lisa McDonald, who served as its COO for ten years, as its new executive director. Over the past year, she has acted as executive director on an interim basis. 

Detour delays shareholders meeting as initial results show Paulson controls board

By: Mariaan Webb     10th December 2018 Detour Gold – the operator of Canada’s largest gold mine – has postponed its planned special shareholders meeting by two days, after initial results suggest that a bloc of shareholders has sided with Paulson & Co and that the US hedge fund manager will take control of the board. The special... 

Detour delays shareholders meeting as initial results show Paulson controls board
Detour board member Jim Gowans

Angola to hold first diamond auction in January, Sodiam says

By: Bloomberg     10th December 2018 Angola will conduct its first diamond auction in January as part of the southwest African country’s plan to open its economy to foreign investors, state-owned diamond-trading company Sodiam said. Seven gemstones from the Lulo mine, located in the northeast, will come under the hammer, Sodiam said... 

IronRidge starts aggressive lithium exploration regime in Ghana

By: Marleny Arnoldi     10th December 2018 Aim-listed IronRidge Resources has started a 3 000 m reverse circulation (RC) exploration drilling programme at the Abonko target, at the Ewoyaa lithium project, in Ghana. A 1 000 m diamond drilling programme is planned on completion of the RC drilling programme, for density, metallurgical... 

MOD anticipates promising copper mineralisation from T23 Dome in Botswana

By: Marleny Arnoldi     10th December 2018 ASX-listed MOD Resources has announced additional results from widely spaced drilling at the T23 Dome, of the company’s exploration joint venture project with Aim-listed Metal Tiger, in Botswana. The third drill hole at T23 has intersected zones of visible, finely disseminated copper sulphides... 

Kibo secures exclusive option to buy three peaking power sites in the UK

By: Tasneem Bulbulia     10th December 2018 Kibo Energy’s 60%-owned UK subsidiary, MAST Energy Developments (MED), has secured an exclusive option, for a nominal fee, to undertake due diligence and negotiate the potential acquisition of three peaking power sites, totalling 31.3 MW, in the UK. 

CEO joins executive exodus at Dominion Diamond

By: Bloomberg     10th December 2018 Dominion Diamond CEO Patrick Evans has left the company, marking at least the third high-profile departure in less than a year at the Canadian miner, which is owned by billionaire Dennis Washington. Evans confirmed that he departed on December 5. Shane Durgin, who was COO, took over as CEO... 

CEO joins executive exodus at Dominion Diamond

La Parrilla crusher plant achieves mechanical completion

By: Creamer Media Reporter      10th December 2018 The La Parrilla crusher plant has achieved mechanical completion, paving the way for the commissioning of mined ore from the Spain-based tungsten/tin mine in January. The 350 t/h crushing circuit, supplied by Metso Minerals Portugal, comprises a jaw crusher and secondary cone crusher both with... 

Youth-owned SMMEs receive grants through De Beers, NYDA

By: Tasneem Bulbulia     10th December 2018 Four local Blouberg youth-owned small, medium-sized and microenterprises (SMMEs) have received grants of up to R50 000 from the National Youth Development Agency (NYDA) through the intervention and support from De Beers’ Venetia Mine. Thabosilakhu Empire, Betty Catering and Deco, Roadhouse Mollax... 

Youth-owned SMMEs receive grants through De Beers, NYDA
Roadhouse Mollaz Enterprise owner Moloko Manaka

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