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China's taxing America's coal just as it was looking to buy more

By: Bloomberg     16th June 2018 Forgive US coal miners for feeling a bit of whiplash over China’s trade policies. Just two weeks ago, the Chinese government was said to be considering buying more American coal as part of an effort to narrow its trade deficit with the US. Now, in retaliation for President Donald Trump’s duties... 

China's taxing America's coal just as it was looking to buy more

Big metal is conspicuously tight-lipped on US-China rift

By: Bloomberg     16th June 2018 If mining companies are as bothered by Trump’s tariffs as investors appear to be, they’re not saying. A full-out trade war between the US and China could negatively affect the metals and mining sector in several ways. China could respond to Friday’s US tariffs by cutting imports of raw... 

Chile anti-trust regulator to probe Tianqi purchase of SQM stake

By: Reuters     16th June 2018 Chile's anti-trust regulator FNE said on Friday it would open an investigation into the effects on the market of China's Tianqi purchase last month of a 24% stake in SQM, one of the world's top lithium producers. Chile's government under former President Michelle Bachelet in March filed a... 

Glencore’s DRC settlements should allay fears about asset seizure – analyst

By: Chanel de Bruyn     15th June 2018 Diversified miner Glencore’s settlement, this week, of various disputes with entities in the Democratic Republic of Congo (DRC), should allay investor concerns about the risk of a seizure of its DRC assets, says Goldman Sachs. Glencore, led by CEO Ivan Glasenberg, on Friday announced that it had... 

Glencore’s DRC settlements should allay fears about asset seizure – analyst
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

The Israeli billionaire forcing Glencore to buck US sanctions

By: Bloomberg     16th June 2018 Not many billion-dollar companies would be willing to circumvent US sanctions for their business partner, but then few people are as powerful as Dan Gertler in the Democratic Republic of Congo. Gertler scored a victory when Glencore said on Friday that it would evade US sanctions to keep paying... 

The Israeli billionaire forcing Glencore to buck US sanctions
Dan Gertler

Tahltan to receive C$7m a year from Brucejack taxes

By: Creamer Media Reporter      16th June 2018 The Tahltan First Nation will receive about C$7-million a year in tax revenue from the new Brucejack gold mine, under a revenue-sharing agreement between the British Columbia government and the Tahltan central government. The Brucejack mine, in north-western British Columbia, is expected to... 

Samarco is said to be nearing settlement with Brazil prosecutors

By: Bloomberg     15th June 2018 After a year of back and forth, the owners of the idle Samarco iron-ore mine are close to signing a definitive settlement with Brazilian prosecutors that will clear the way for restart preparations and debt talks to begin, according to people briefed on the matter. Joint venture partners Vale... 

South Africa proposes 30% black ownership for mining firms within 5 years

By: Reuters     16th June 2018 South Africa plans to raise black ownership at permit-holding mining companies to 30% from 26% within five years, the latest draft of a hotly-contested new industry charter showed on Friday. The government and miners had been at loggerheads over a previous version of the charter, which the... 

South Africa proposes 30% black ownership for mining firms within 5 years
Photo by Dylan Slayter
Mineral Resources Minister Gwede Mantashe

Albemarle receives approval for WA lithium plant

By: Esmarie Swanepoel     15th June 2018 The Western Australian Environmental Protection Authority (EPA) has approved the development of a lithium hydroxide manufacturing plant, outside of Bunbury. The plant, to be developed by global producer Albemarle, will produce up to 100 000 t/y of lithium hydroxide monohydrate from five 20 000... 

Hawkstone abandons US lithium buy

By: Esmarie Swanepoel     15th June 2018 The Australian share price of Hawkstone Mining dropped by more than 22% on Friday after the company announced its withdrawal from its acquisition of USA Lithium. Hawkstone in March this year took an option over USA Lithium, which holds the Big Sandy and Lordsburg lithium projects, in Arizona and... 

Hedge funds pick the wrong time to go big on gold as prices drop

By: Bloomberg     16th June 2018 Hedge funds just mistimed their gold bets. Money managers as of Tuesday pushed their wagers on a bullion rally to the highest in seven weeks. The next day, Federal Reserve policy makers signaled more interest-rate increases this year than earlier projected. Gold ended up posting a weekly loss as... 

Glencore says settled Congo mining dispute

By: Reuters     15th June 2018 Miner and commodities trader Glencore has settled its Congo mining dispute with two companies associated with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than US dollars, Glencore said on Friday. US sanctions on Gertler, Glencore's former Israeli partner in... 

Glencore says settled Congo mining dispute
Glencore subsidiary Katanga Mining's operations in the DRC.

Gecamines says Glencore deal to yield billions for Congo State

By: Bloomberg     15th June 2018 A settlement between a Glencore unit and Democratic Republic of Congo’s State-owned Gecamines will contribute-billions of dollars of revenue to the government over the next decade, an official said. Glencore reached a deal with Gecamines on Tuesday to end a legal dispute over Kamoto Copper, which... 

Kefi raises £3m; issues shares to contractors, third parties

By: Simone Liedtke     15th June 2018 Aim-listed Kefi Minerals has conditionally raised £3-million, equivalent to about $4-million, through a placing of 120-million new ordinary shares at 2.5p apiece to existing and new shareholders. The placing proceeds net of expenses are expected to be about £2.8-million and will primarily be used... 

Exxaro appoints new chairperson

By: Marleny Arnoldi     15th June 2018 JSE-listed coal and heavy minerals miner Exxaro has appointed Jeffrey van Rooyen as independent nonexecutive chairperson.  

Mantashe to publish draft charter for public comment

By: Creamer Media Reporter      15th June 2018 Mineral Resources Minister Gwede Mantashe intends to, on Friday, publish the draft Mining Charter for public comments before it is finalised and gazetted.   This follows weeks of engagements with stakeholders and social partners.   “Publishing of the charter moves us a step forward in terms of... 

DFS opens door for Keliber to advance Finland lithium project

By: Creamer Media Reporter      15th June 2018 Exploration and development firm Keliber has published the results of a definitive feasibility study (DFS) for its lithium project, in Finland, confirming its financial and technical feasibility. The DFS endows the lithium project with a net present value, using an 8% discount, of €295-million,... 

DFS opens door for Keliber to advance Finland lithium project

Minerals Council, water dept collaborate on water conservation, demand management project

By: Creamer Media Reporter      15th June 2018 The Department of Water and Sanitation (DWS) and the Minerals Council South Africa (MCSA) have reached a significant milestone in a collaborative exercise on water conservation and water demand management aimed at driving water savings and usage improvements in the mining industry. The... 

Minerals Council, water dept collaborate on water conservation, demand management project

Black Mountain finds partner in Uganda

By: Esmarie Swanepoel     15th June 2018 ASX-listed Black Mountain has secured a farm-in partner for its Busumbu phosphate project, in Uganda. Black Mountain has struck a deal with African Minerals Ventures (AVM), which will earn a 51% interest in the project by spending $3-million over the next three years, with Black Mountain to... 

New research could unlock Qld bauxite

By: Esmarie Swanepoel     15th June 2018 The Queensland government will provide A$180 000 over the next three years, to fund a research project to develop an innovative mining process that could unlock massive, previously untapped, bauxite deposits in North Queensland, within the next five years. The research is a collaborative project... 

Yancoal denies firm plans for dual listing

By: Esmarie Swanepoel     15th June 2018 ASX-listed Yancoal has denied reports that it has taken a firm decision for a dual primary listing in Hong Kong. The company was responding to reports that a dual listing was planned for later this year, which could raise between $600-million and $800-million. 

Second LNG train at Wheatstone starts up

By: Esmarie Swanepoel     15th June 2018 Liquefied natural gas (LNG) production from the second train at the Wheatstone project, near Onslow in Western Australia, has started. US major Chevron said on Friday that the Wheatstone project is expected to produce 8.9-million tonnes a year of LNG over an estimated 30-year mine life, adding... 

Second LNG train at Wheatstone starts up

Royalties to contribute A$20bn to Qld Budget in next five years

By: Esmarie Swanepoel     15th June 2018 The resources sector’s contribution to the Queensland state Budget is expected to soar to more than A$20-billion between now and July 2023. Total mineral royalties reached A$4.32-billion in the 2018 financial year. 

BHP awards contract at newly approved South Flank

By: Esmarie Swanepoel     15th June 2018 Mining major BHP has awarded a A$260-million mining infrastructure works contract to ASX-listed Cimic, at the newly approved South Flank project, in Western Australia. BHP overnight approved the $3.4-billion South Flank project, which will replace production from the 80-million tonne a year... 

Samcodes, malaria, beneficiation make headlines  

15th June 2018 Mining Weekly editor Martin Creamer discusses Samcodes, malaria and beneficiation in this week's Second Take. 

Samcodes, malaria, beneficiation make headlines

Resource nationalism on the rise in sub-Saharan Africa

By: Nadine James     15th June 2018 The seemingly increasing trend towards nationalist thinking, combined with and likely driven by growing economic inequality, has resulted in several changes in mining and tax legislation in sub-Saharan Africa countries. Herbert Smith Freehills Africa Group co-chair and partner Peter Leon says the... 

Resource nationalism on the rise in sub-Saharan Africa

Mining Weekly iPhone and Android Apps available for free download 

15th June 2018 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Nevsun extends Bisha mine life to 2022

By: Creamer Media Reporter      14th June 2018 TSX-listed Nevsun has approved an openpit extension of the Bisha mine in Eritrea, which will add 3.3-million tonnes of ore to the mill, delivering about 470-million pounds of zinc and 52-million pounds of copper. The extension will allow operations to continue to 2022 and gives Nevsun time to... 

Canada and Argentina sign energy and mining MoUs

By: Creamer Media Reporter      14th June 2018 Ministers from Canada and Argentina on Thursday signed three memoranda of understanding (MoUs), dealing with energy efficiency, mining policy and nuclear energy cooperation. The MoUs demonstrate that the two countries place a high priority on energy efficiency as a means to reduce energy use and... 

Fortune may defer Saskatchewan metals processing plant

By: Mariaan Webb     14th June 2018 Project developer Fortune Minerals may defer its planned metals processing plant near Saskatoon, Saskatchewan, and may opt to sell concentrates from the flagship Nico mine directly to third parties, the company said on Thursday. The London, Ontario-based company has approval for a $200-million... 

Piedmont delivers Carolina belt’s first lithium resource estimate in over 30 years

By: Mariaan Webb     14th June 2018 Australia-listed junior Piedmont Lithium has competed the first resource estimate in more than 30 years in the historic Carolina tin/spodumene belt, in the US, which was home to most of the world’s lithium production and processing between the 1950s and 1980s. The estimate for its Core property,... 

Piedmont delivers Carolina belt’s first lithium resource estimate in over 30 years

World's largest gold ETF is getting a cheaper little brother

By: Bloomberg     14th June 2018 The price of gold is falling, at least for investors in exchange-traded funds. The World Gold Council is readying a new fund that will charge less than any other gold ETF, regulatory filings show. It will vie for assets with 35 other precious-metals exchange-traded products in the US, including... 

Illegal mining worth R7bn a year – PwC

By: Martin Creamer     14th June 2018 The value of illegal mining and dealing of metals and diamonds in South Africa is estimated to be more than R7-billion a year, says PwC. In its latest edition of SA Mine, the professional services firm equates this to revenue generated from 430 000 oz of gold at the current market price. 

Illegal mining worth R7bn a year – PwC
Photo by Dylan Slater
Informal processing of sand from a depleted mine dump off the N3 South freeway, near Elandsfontein, in Germiston

Canada’s Erdene is Mongolia exchange’s first cross-listed firm

By: Creamer Media Reporter      14th June 2018 TSX-listed Erdene Resource Development has launched a secondary listing of its common shares on the Mongolian Stock Exchange (MSE), becoming the first cross-listed, and only precious metals exploration company listed on the MSE. Erdene, which has interests in four exploration licences and a... 

Bushveld settles £5m debt with Atlas Special Opportunities

By: Marleny Arnoldi     14th June 2018 Aim-listed diversified miner Bushveld Minerals has redeemed the outstanding unsecured convertible bonds that were issued to Atlas Special Opportunities in September 2017.  

Bushveld settles £5m debt with Atlas Special Opportunities
Photo by Creamer Media
Bushveld Minerals CEO Fortune Mojapelo

‘Substantial improvement’ in alluvial mining at Xtract’s Manica mine

By: Marleny Arnoldi     14th June 2018 Aim-listed gold miner Xtract Resources reports substantial improvements in alluvial mining contractor gold production at its Manica alluvial operations, in Mozambique.  

Shanta announces partial buyback, extension of loan notes

By: Marleny Arnoldi     14th June 2018 Aim-listed gold miner Shanta Gold has received irrevocable undertakings from the majority of holders of the company’s outstanding unsecured subordinated convertible loan notes that are due in April 2019, to buy back some of those loan notes and to extend the maturity date of the remainder of the... 

Nersa grants Eskom R32.69bn in RCA application

By: African News Agency      14th June 2018 The National Energy Regulator of South Africa (Nersa) on Thursday granted Eskom R32.69-billion following its regulatory clearing account (RCA) application for the multi-year price determination period from 2015 to 2017. The cash-strapped power utility had applied for a 19.9% tariff hike to recoup... 

Nersa grants Eskom R32.69bn in RCA application

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