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Eldorado in possible pickle for ‘breach of contract’ – NGO

By: Henry Lazenby     Updated 2 hours 37 minutes ago Gold producer Eldorado Gold could be subject to arbitration after the Greek government last month announced its intention to take the company to mediation over a possible breach of contract relating to its ability to produce precious metals in Greece. The Greek government on April 11 assigned a... 

Eldorado in possible pickle for ‘breach of contract’ – NGO
Photo by Eldorado Gold
Skouries project development, Greece

Veladero strike ends; establishes formal dialogue with trade union

By: Henry Lazenby     29th May 2017 Workers belonging to the AOMA union at the Veladero mine, in San Juan province, Argentina, has restarted work on Monday afternoon after downing tools early on Sunday. Barrick did not elaborate on the union’s issues of concern, but said it is in dialogue with union leadership to “seek a timely... 

AuRico Metals published positive PEA for Kemess East gold/copper project

By: Henry Lazenby     Updated 2 hours 25 minutes ago Canadian gold producer AuRico Metals has published a positive preliminary economic assessment (PEA) for the Kemess East gold/copper project, even when considered as a stand-alone project, not part of the Kemess underground project, the company announced Monday. The Kemess East PEA evaluated a... 

New projects spur rebound in Chilean mining jobs – recruiter

By: Reuters     Updated 7 hours ago Companies have stepped up their requests for engineers and other positions at early stage mining projects in Chile, a local recruiter said on Monday, in a further sign of activity warming up in the industry. Chile is the world's biggest producer of copper, which makes up over half its export... 

Banro welcomes safe return of kidnapped employees

By: Natasha Odendaal     29th May 2017 The four employees kidnapped in March while working at dual-listed Canadian gold mining company Banro’s Namoya gold mine, in eastern Democratic Republic of the Congo, have been released after a “long and difficult ordeal”. The company on Monday announced the safe return of its employees, three... 

Spencer appointed as Aurania president; shareholders approve EcuaSolidus acquisition

By: Henry Lazenby     Updated 4 hours ago Junior explorer Aurania Resources has appointed board member Dr Richard Spencer as its new president. Spencer, who will continue to act in his current roles of president and CEO of TSX-listed U3O8 Corp, will be responsible for the financial and operational performance of Aurania, as it searches... 

Scinta buys South32’s Davel right for R187m

By: Megan van Wyngaardt     29th May 2017 Local coal miner Scinta South Africa will buy diversified miner South32’s 400-million-tonne Davel mining right, in Mpumalanga, for R187-million. As part of the transaction, Scinta has also acquired the Ermelo Mines’ infrastructure, railway loop and discard dump. Certain historical liabilities... 

NUM vows to fight alleged racism at Kimberley Ekapa Mining Joint Venture

By: African News Agency      29th May 2017 The National Union of Mineworkers (NUM) at Kimberley Ekapa Mining Joint Venture (KEM JV) said on Monday that it was “very concerned and disturbed” by the manner in which the mine management was allegedly treating the workers and victimising its leadership at the mine. This comes after a slew of... 

Zambezi Protocol providing strategic direction to identity-changing Chamber of Mines 

By: Martin Creamer     29th May 2017 The 128-year-old Chamber of Mines South Africa provided an important indicator of its intended new direction when it revealed that the Zambezi Protocol would be its guiding light as it embarked on its identity and name-change programme. Under unanimously elected new president of Mxolisi Mgojo,... 

Mining Weekly Online’s Martin Creamer asks new Chamber of Mines office bearers to spell out the influential institution’s decision to change its 128-year-old name and identity. Photographs and Video: Duane Daws. Video Editing : Lionel d Silva.

India considering incentives for foreign companies in hydrocarbon sector

By: Ajoy K Das     29th May 2017 The Indian government is working on a draft proposal to offer upfront incentives, including a capital subsidy and liberal export rules, for foreign oil and gas companies that are expected to participate in the newly unveiled open acreage hydrocarbon bidding process. According to an official... 

Expansion tenure secured for Plymouth’s Spain project

By: Mariaan Webb     29th May 2017 ASX-listed Plymouth Minerals and its Spanish partner Sacyr subsidiary Valoriza Mineria have secured an expansion tenure surrounding the San Jose project, in Spain, which they plan to develop as an openpit operation with an onsite treatment plant to produce lithium carbonate. The expansion tenure... 

UK firm acquires 10% of DRDGold

By: Anine Kilian     29th May 2017 UK-based investment company Ruffer has acquired 10% of the total issued ordinary share capital of JSE-listed DRDGold. DRDGold, led by CEO Niel Pretorius, recovers gold from the retreatment of surface tailings. 

CoAL’s share price rises as Minister lifts Makhado water licence suspension

By: Anine Kilian     29th May 2017 Triple-listed Coal of Africa Limited’s (CoAL’s) shares on the JSE rose by 8.51% on Monday morning after the company announced that Water and Sanitation Minister Nomvula Mokonyane had lifted the suspension of the integrated water use licence (IWUL) for the Limpopo-based Makhado project. The IWUL... 

CoAL’s share price rises as Minister lifts Makhado water licence suspension
CoAL CEO David Brown

Scoping study on Dakota’s Portugal project nearing completion

By: Mariaan Webb     29th May 2017 Lithium explorer Dakota Minerals has received the results of metallurgical test work on material from its Sepeda petalite project, in Portugal, paving the way for the completion of a scoping study in the next two weeks. Dakota Minerals, which trades on the ASX and Frankfurt Stock Exchange,... 

Scoping study on Dakota’s Portugal project nearing completion

Oz vanadium explorer expands investor base with Frankfurt listing

By: Mariaan Webb     29th May 2017 Western Australia-based Technology Metals Australia is pursuing a dual listing on the Frankfurt Stock Exchange to broaden its European investor base. The ASX-listed company, which is conducting drilling at the Gabanintha vanadium project, near Meekatharra in Western Australia, said on Monday that... 

WA Premier revives plan to scrap iron-ore levy as it seeks upfront cash

By: Esmarie Swanepoel     29th May 2017 Western Australian Premier Mark McGowan has revived the possibility of scrapping a 25c/t levy on iron-ore produced from the state, in exchange for up-front payments. The Premier over the weekend admitted that the state government was weighing the option of a ‘buy-out’ of the lease rental fee in... 

WA Premier revives plan to scrap iron-ore levy as it seeks upfront cash

New Qld policy approach leaves no room for Carmichael ‘tax holiday’

By: Esmarie Swanepoel     29th May 2017 The Queensland government has unveiled plans for a new policy to unlock the development of the Galilee and Surat basins, as well as the North West minerals province, with Premier Annastacia Palaszczuk saying that the state Cabinet had unanimously agreed upon the new policy approach. Treasurer... 

Kidman/Marindi tussle starts

By: Esmarie Swanepoel     29th May 2017 The legal battle between ASX-listed Kidman Resources and fellow-listed Marindi Resources was launched in the Supreme Court on Monday. Marindi in November of last year started legal proceedings claiming that that Kidman had failed to comply with a binding agreement to sell lithium rights to Marindi. 

Sheffield gets another offtake bite

By: Esmarie Swanepoel     29th May 2017 Mineral sands developer Sheffield Resources has inked a cornerstone ilmenite offtake memorandum of understanding (MoU) over its Thunderbird mineral sands project, in Western Australia. The MoU with Chinese manufacturer CNNC Huayuan Titanium Dioxide Company covers some 45% of the estimated total... 

MZI secures more funding from shareholder

By: Esmarie Swanepoel     29th May 2017 Mineral sands miner MZI Resources has secured $5-million in funding to progress its land access programme at its Keysbrook project, in Western Australia. The debt financing, provided by the company’s major shareholder Resource Capital Fund, will enable MZI to pursue further arrangements with... 

Carbine gets heritage approval for Mt Morgan

By: Esmarie Swanepoel     29th May 2017 The Queensland Minister of Natural Resources and Mines has granted final heritage approval to the Mt Morgan gold/copper project. ASX-listed Carbine Resources said on Monday that the grant of the heritage approval was another milestone for the project, and was the first of three major approvals... 

Australian gold production drops by 8%

     29th May 2017 Wet weather has resulted in Australian gold production falling during the March quarter, mining consultant Subriton Associates has reported. The country's gold mines produced 71.5 t in the quarter, which is 6 t, or 8%, less than the 77.5 t produced in the December quarter. Nevertheless, gold... 

Havilah gets partner at Kalkaroo

By: Esmarie Swanepoel     29th May 2017 Gold junior Havilah Resources has signed a memorandum of understanding (MoU) with Beijing-based Wanbao Mining to complete a prefeasibility study (PFS) on the Kalkaroo copper/gold project, in South Australia. The PFS, which will be undertaken by an independent mining consultancy, is expected to... 

Dartbrook sale completed – Anglo American

By: Esmarie Swanepoel     29th May 2017 Diversified miner Anglo American has completed the sale of its 83.33% interest in the Dartbrook coal mine, in New South Wales to ASX-listed Australian Pacific Coal (APC). The two companies at the end of 2015 agreed to the A$50-million transaction, which included an upfront cash payment of... 

BHP CEO tells investors options for US shale under review

By: Bloomberg     29th May 2017 BHP Billiton is assuring shareholders that it’s exploring numerous options for its contentious US shale unit amid pressure from activist investor Elliott Management to carry out a wider review of petroleum operations. In a series of meetings in Australia last week, CEO Andrew Mackenzie stressed... 

BHP CEO tells investors options for US shale under review
BHP CEO Andrew Mackenzie

Limpopo illegal miners appear in court

By: African News Agency      29th May 2017 Five people allegedly involved in massive illegal mining of chrome in Limpopo are expected to appear in Sekhukhune and Mecklenburg courts on Monday. Police spokesman Brigadier Motlafela Mojapelo said the suspects aged between 33 and 44 were arrested last week during an operation by the police and... 

At least eight illegal miners die after mine shaft collapses in Zimbabwe

By: News24Wire      29th May 2017 At least eight illegal miners have been confirmed dead in Zimbabwe after a mine shaft they were working in collapsed. The state-run ZBC is reporting that at least four of the miners were above ground at Big Mine, but were sucked into the collapsing shaft. 

Moody's sees Glencore paying up to $6bn in possible Bunge deal

By: Reuters     27th May 2017 Miner and trader Glencore may pay up to $6-billion in cash in a possible tie-up with US grains trader Bunge based on current valuations, Moody's ratings agency said on Friday, but said it did not expect an outright acquisition. Glencore said this week it had made an informal approach to discuss... 

IDM completes Red Mountain acquisition from Seabridge Gold

By: Henry Lazenby     27th May 2017 Exploration and development company IDM Mining has completed the acquisition of the high-grade Red Mountain project, in British Columbia, from Seabridge Gold. TSX-V-listed IDM acquired the 100% interest, subject to certain underlying agreements and royalties, under an April 2014 option agreement. 

Canada publishes rules to reduce oil and gas sector methane emissions, air pollution

By: Henry Lazenby     26th May 2017 Canada has introduced new rules aimed at reducing methane emissions and cutting air pollution from its significant oil and gas industry, a move that met with mixed reaction from the industry itself. Minister of Environment and Climate Change Catherine McKenna introduced the new regulation on... 

Canada publishes rules to reduce oil and gas sector methane emissions, air pollution

Northern Vertex, Greenstone partner to accelerate Moss mine development; US gold consolidation

By: Henry Lazenby     26th May 2017 Canadian project developer Northern Vertex Mining and Guernsey-based private equity fund Greenstone Resources has formed a partnership that will strengthen Northern Vertex’s balance sheet and expedite construction, procurement and staffing initiatives as the company works up to declaring... 

Codelco's Q1 output falls, but higher copper price boosts profits

By: Reuters     26th May 2017 Chile's state-run Codelco said on Friday that its copper output in the first quarter slid 11% from a year ago, as ore grades decline at its ageing mines, but an incipient recovery in copper prices boosted its profits. Codelco, the world No 2 copper miner, said output in the three months to... 

Diamond industry faces headache as key US market takes a knock

By: Bloomberg     26th May 2017 In the diamond industry, the only place that really matters is the US, and the market is starting to look a little shaky. In a country where consumers buy almost half the world’s gems, Tiffany & Co. and Signet Jewelers this week reported disappointing sales. That’s a blow to expectations that... 

Low platinum price boosting platinum jewellery demand

By: Martin Creamer     26th May 2017 The low platinum price incentivised manufacturers and retailers to stock and sell platinum, leading to an overall growth of 5.4% in the US last year, Platinum Guild International said on Friday, with lower-based retail sales in India soaring 11.4%. In its Platinum Jewellery Business Review, the... 

Low platinum price boosting platinum jewellery demand
Platinum jewellery sales up in US, India, Japan.

Vast draws down on SSA loan

By: Megan van Wyngaardt     26th May 2017 Aim-listed Vast Resources on Friday said it has drawn down $3-million of its $8-million financing arrangement with SSCG Africa Holdings (SSA), despite approval by the Reserve Bank of Zimbabwe (RBZ) still being outstanding. In January, the parties entered into an $8-million agreement, comprising a... 

Coal India likely to rejig pricing

By: Ajoy K Das     26th May 2017 Coal miner Coal India Limited (CIL) is likely to adjust its pricing in the current financial year. A price adjustment will need to factor in the re-gradation of the quality of coal from CIL’s 386 mines and the impact of the Goods and Services Tax (GST), a company official said. 

Adani must pay royalties on Carmichael mine, Queensland says

By: Reuters     26th May 2017 India’s Adani Group will be required to pay full royalties on its $16.5-billion Carmichael coal project in Australia’s Queensland, according to the state’s premier. The Carmichael mine “will pay every cent of royalties in full” under a new policy unanimously agreed to by the state’s cabinet for... 

Kazakhstan to produce nuclear fuel for China

By: Reuters     26th May 2017 Kazakhstan, the world's biggest uranium producer, will start producing nuclear fuel for Chinese power plants in 2019 through a joint venture set up by the two countries, a senior official at the Ulba Metallurgical Plant told Reuters. The joint venture, Ulba-FA, is now building on land at the Ulba... 

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