Au 1221.37 $/oz Change: -5.31
Pt 820.00 $/oz Change: -11.75

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US EPA withdraws proposed Obama-era rule change for uranium mining

By: Reuters     21st October 2018 The US Environmental Protection Agency said on Friday it has withdrawn a regulation proposed in the last days of the Obama administration that aimed to tighten health and safety compliance rules for uranium miners. On January 19, 2017 - a day before Donald Trump took office as president - the... 

US EPA withdraws proposed Obama-era rule change for uranium mining

'You can run but you can't hide,' Cleveland-Cliffs CEO tells analyst

By: Bloomberg     19th October 2018 Cleveland-Cliffs CEO Lourenco Goncalves isn’t a fan of the Goldman Sachs Group analyst who covers his company. As shares of the largest US iron-ore producer fell as much as 10% Friday, Goncalves closed his analyst call by specifically calling out Goldman’s Matthew Korn. The CEO questioned Korn... 

Rusoro expects first $100m from Venezuela next month

By: Mariaan Webb     Updated 7 hours ago Gold junior Rusoro Mining is expecting its first $100-million of its $1.28-billion settlement with the Venezuela government in November, the TSX-V-listed miner reported on Friday, announcing the execution of its previously announced settlement. In terms of the agreement, Rusoro will suspend... 

Quebec asbestos tailings recycler receives federal funding

By: Mariaan Webb     19th October 2018 Privately-owned Alliance Magnesium has received C$12-million in funding from the federal government to support the second phase of demonstrating its technology to extract magnesium from asbestos tailings. The announcement by International Development Minister Marie-Claude Bibeau on Friday comes... 

Coronado to start trading on ASX after massive IPO

By: Esmarie Iannucci     Updated 7 hours ago US coal major Coronado Global Resources is expected to start trading on the ASX at the start of business on Tuesday, after completing a A$774-million initial public offering (IPO). The company issued more than 166.5-million Chess Depository Interests (CDIs), at a price of A$4 each, and sold more... 

Waterton to call special meeting of Hudbay Minerals shareholders

By: Reuters     19th October 2018 Private equity firm Waterton Global Resource Management said on Friday it would call a special meeting of Hudbay Minerals' shareholders after the Canadian miner refused its proposal for changes to its board. Waterton, which said it owns a 7% stake in Hudbay, had also asked the miner to avoid any... 

Kidman reveals integrated lithium mine-to-refinery study results

By: Esmarie Iannucci     Updated 7 hours ago Lithium developer Kidman Resources on Monday revealed that an integrated mine, concentrator and refinery project, in Western Australia, would cost $601-million to develop. The company has completed a prefeasibility study on the proposed Kwinana lithium refinery, as well as an updated scoping... 

China's Shandong Zhaojin seeks South American mining assets

By: Reuters     19th October 2018 Shandong Zhaojin Group, one of China's biggest gold miners, is scouring assets in South America as it looks to invest in its first overseas mining project, its general manager said on Friday. The company has set up a representative office in Machala, capital of Ecuador's El Oro province,... 

Lucara to hold first sale through Clara digital sales platform

By: Simone Liedtke     Updated 6 hours ago TSX-listed Lucara Diamond Corp will hold the first diamond sale through its 100%-owned digital sales platform, Clara Diamond Solutions, in November. It has invited a select group of large vertically integrated jewellery houses and global diamond manufacturers to participate in the sale. 

Flow of LME nickel to hidden storage dents bull story

By: Reuters     19th October 2018 The bulk of nickel moving out of London Metal Exchange-approved warehouses in Asia is showing up in hidden facilities in Europe, analysts said, denting a bullish scenario of potential shortages. LME nickel stocks have shrunk by about 40% this year, largely from warehouses in Malaysia, Taiwan... 

Kibali set for another record quarter

By: Creamer Media Reporter      Updated 1 hour 24 minutes ago The Kibali gold mine, in the Democratic Republic of Congo (DRC), is continuing to deliver performance improvements across the board and is expected to post record results for the quarter ended September 30, Randgold Resources CE Mark Bristow said on Monday. Speaking at a briefing for local media,... 

Kibali set for another record quarter
Photo by Bloomberg
Randgold Resources CEO Mark Bristow

RBPlat achieves improvements in key performance indicators in Sept quarter 

By: Tasneem Bulbulia     Updated 1 hour 36 minutes ago Royal Bafokeng Platinum (RBPlat) recorded improvements across key performance indicators in the quarter ended September 30. The company achieved an 18.4% increase in tonnes delivered to concentrators to 939 000 t, while tonnes milled increased by 18.9% to 981 000 t, supported by higher delivered... 

Cononish mine receives planning application decision notice

By: Mariaan Webb     Updated 2 hours 3 minutes ago Scotgold, the company gearing up to build the Cononish mine on the edge of the Loch Lomond and the Trossachs National Park, said on Monday that it had received a decision notice relating to the planning application for its gold and silver project. The Aim-listed company’s application for the... 

Eskom gearing up for big grid-scale battery storage roll-out 

By: Terence Creamer     Updated 2 hours 16 minutes ago State-owned electricity utility Eskom is preparing to roll-out battery energy storage systems (BESS) across multiple sites as part of a replacement plan for the 100 MW Kiwano concentrated solar power (CSP) project initially approved as part of the $3.75-billion World Bank loan extended to the... 

Eskom gearing up for big grid-scale battery storage roll-out
Photo by Creamer Media
Eskom has been testing battery storage solutions at its research facility in Rosherville for the past few years

Uranium market's Aramco unveils London IPO despite Trump threat

By: Bloomberg     Updated 2 hours 27 minutes ago The initial public offering (IPO) of the world’s largest oil producer Saudi Aramco may be on the back burner, but the IPO of its uranium-market equivalent is full steam ahead. Kazatomprom, the world’s No. 1 producer of the nuclear fuel, on Monday said it would list as much as 25 percent of its... 

Palladium nears record after hedge funds piled in amid shortages

By: Bloomberg     Updated 2 hours 53 minutes ago Palladium climbed near a record as the US plans to pull out of the nuclear weapons pact with Russia, fueling tensions with one of the largest producers at a time when consumers are already scrambling for supplies. Production will trail consumption by 481 000 ounces this year and deficits will... 

Orion completes follow-up metallurgical testwork at its Prieska project

By: Simone Liedtke     Updated 3 hours ago ASX- and JSE-listed Orion Minerals has completed the follow-up locked-cycle metallurgical testwork on the deeper mineralised domains at its Prieska zinc/copper project, in the Northern Cape. The Prieska deep sulphide zone is currently the subject of a bankable feasibility study (BFS) targeted for... 

Lonmin undertakes refinancing, delivers on results promise 

By: Simone Liedtke     Updated 5 hours ago Platinum miner Lonmin has entered into a $200-million metal purchase agreement with Pangaea Investments Management (PIM), an associate company of Jiangxi Copper Company (JCC), which will provide the miner with improved liquidity and remove certain restrictive current lender conditions. Of the... 

Lonmin undertakes refinancing, delivers on results promise
Photo by Creamer Media
Lonmin CEO Ben Magara

Conroy announces new gold outcrop discovery

By: Creamer Media Reporter      Updated 6 hours ago Ireland-focused Conroy Gold and Natural Resources on Monday announced the discovery of a new bedrock gold mineralisation, sending the Aim-listed miner’s stock up 3.7%. The gold outcrop has a grade of 5.6 g/t gold and could be a direct link between the Clontibret gold deposit and the Corcaskea... 

Glencore CEO said to tell investors he'll retire in 3 to 5 years  

By: Bloomberg     Updated 6 hours ago Ivan Glasenberg, who built Glencore into a dominant force in commodities trading and became the face of the industry, told investors he plans to retire in three to five years, according to people familiar with the matter. Glasenberg discussed his succession plan in recent meetings and said he has... 

Glencore CEO said to tell investors he'll retire in 3 to 5 years
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Kazatomprom confirms plan for London, Astana IPO

By: Reuters     Updated 6 hours ago The world's biggest uranium miner, Kazakh state firm Kazatomprom, confirmed on Monday its intention to list global depository receipts on the London stock exchange as part of an initial public offering. The company, which announed the preliminary plan last week and said it would also list shares... 

BASF and Norilsk Nickel sign nickel and cobalt supply agreement

By: Creamer Media Reporter      Updated 6 hours ago Chemicals and cathode giant BASF has locked in a local source of feedstock for its European battery materials business, announcing on Monday that it had signed a long-term, market-based agreement with Russian miner Norilsk Nickel (Nornickel) for nickel and cobalt supply. The German group also... 

BASF and Norilsk Nickel sign nickel and cobalt supply agreement

Edenville submits RfQ documentation to Tanesco

By: Tasneem Bulbulia     Updated 6 hours ago Edenville Energy, which is developing a coal project in south-west Tanzania, has submitted the required documentation to Tanzania Electricity Supply Company (Tanesco) in relation to the utility’s request for qualification (RfQ) for coal-fired power generation projects in Tanzania.  The submission... 

Mantashe holds collaborative meeting with MCSA

By: Tasneem Bulbulia     Updated 6 hours ago Mineral Resources Minister Gwede Mantashe met with the executive of the Minerals Council South Africa and CEOs in the coal and platinum sectors on Friday to receive a briefing on the challenges faced by companies in these sectors, and to work on finding solutions for the long-term sustainability... 

Petra delivers sound Q1 production

By: Tasneem Bulbulia     Updated 6 hours ago London-listed Petra Diamonds achieved a solid operational performance in the three months ended September 30 – the first quarter of its 2019 financial year. Production for the period increased by 21% year-on-year to 1.07-million carats, mainly as a result of a 25% increase in run-of-mine... 

GR Engineering wins Fungoni EPC contract

By: Esmarie Iannucci     Updated 7 hours ago ASX-listed junior Strandline Resources has awarded fellow-listed GR Engineering Services the engineering, procurement and construction (EPC) contract for the Fungoni mineral sands project, in Tanzania. The EPC contract, valued at $17.6-million, will cover a two-million-tonne-a-year processing... 

Caula's two-phased development a treat

By: Esmarie Iannucci     Updated 7 hours ago A scoping study into the Caula vanadium/graphite project, in Mozambique, has estimated that the two-phased development would cost some A$167.6-million to develop. ASX-listed New Energy Minerals, which was previously trading as Mustang Resources, said on Monday that the Phase 1 project would... 

Black Rock signs largest graphite offtake yet

By: Esmarie Iannucci     Updated 7 hours ago Graphite developer Black Rock Mining has signed an offtake agreement with China's Heilongjiang Bohao Graphite Company for natural flake grahite from the Mahenge project, in Tanzania. The three-year agreement would see Black Rock supply 30 000 t in the first year, 50 000 t in the second year, and... 

Lucapa starts commissioning at Mothae

By: Esmarie Iannucci     Updated 7 hours ago Diamond miner Lucapa Diamond Company has started commissioning of the 1.1-million tonne a year treatment plant at its Mothae kimberlite diamond mine, in Lesotho. First commercial diamond recoveries are slated for early November.  

Strike bids for Perth basin explorer UIL

By: Esmarie Iannucci     22nd October 2018 Oil and gas explorer Strike Energy has inked a takeover implementation deed with fellow-listed UIL Energy, offering that company’s shareholders 0.485 Strike shares for every UIL share held. The UIL board has unanimously recommended that shareholders accept the offer in the absence of a superior... 

Western Areas gives go-ahead for Odysseus nickel mine

By: Esmarie Iannucci     22nd October 2018 The board of nickel miner Western Areas has given the green light to the Odysseus project, following a positive definitive feasibility study (DFS). The DFS into the Cosmos Odysseus project, in Western Australia, confirmed that the project would produce on average 13 000 t/y of... 

Western Areas gives go-ahead for Odysseus nickel mine

MinRes buys BCI’s Kumina deposit, rules out interest in entire BCI portfolio

By: Esmarie Iannucci     22nd October 2018 Resource developer BCI Minerals has struck a A$35-million deal with fellow-listed Mineral Resources (MinRes) to divest of its Kumina iron-ore project, in the Pilbara. Under the terms of the agreement, MinRes will acquire the project for an initial A$27-million, with a further A$4-million payable... 

Transnet removes Gama as CEO

By: Reuters     22nd October 2018 The board of directors of South African state-owned logistics firm Transnet said it had removed Chief Executive Siyabonga Gama, who has been accused of misconduct in a multimillion-dollar deal. Transnet, which operates nearly three-quarters of the African rail network, the bulk of which is in... 

Transnet removes Gama as CEO
Photo by Creamer Media
Siyabonga Gama

Acacia lowers AISC, maintains positive net cash position in Q3

By: Marleny Arnoldi     19th October 2018 Lower realised gold prices and lower production resulted in gold miner Acacia Mining reporting an 11% year-on-year decrease in earnings before interest, taxes, depreciation and amortisation to $44.6-million for the third quarter, ended September 30. The company reported revenue for the period... 

Harmony, Amplats report fatalities

By: Marleny Arnoldi     19th October 2018 Precious metals miners Harmony Gold and Anglo American Platinum (Amplats) both reported fatalities on Friday. A Harmony employee died after falling from a height, while working in the shaft bottom at the Kusasalethu mine, near Carletonville.  

Lionsgold apologises as shares head for cancellation

By: Mariaan Webb     19th October 2018 Gold exploration, production and retail firm Lionsgold CEO Cameron Parry on Friday offered an apology to shareholders as the company announced that trading on the Aim would be cancelled on November 12. Lionsgold, which is developing a gold currency and banking platform, was suspended from... 

Bosnian government to help keep Aluminij smelter on power grid

By: Reuters     19th October 2018 A Bosnian regional government will help to keep aluminium smelter Aluminij Mostar running, a Minister said on Friday, after heavy debt brought it to the brink of closure. Management at Bosnia's sole aluminium smelter had called for the Bosniak-Croat Federation to intervene after the business was... 

Clash over Trump tariffs heats up with barrage of WTO litigation

By: Reuters     19th October 2018 Disputes over US tariffs and retaliatory moves by other states have sparked 12 requests for adjudication at the World Trade Organization, signalling an escalation in global trade tensions. The agenda for an Oct. 29 meeting of the WTO's dispute settlement body on Friday confirmed the legal moves,... 

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