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Agromining may provide new opportunities to extract remaining value from mined land

By: Mia Breytenbach     24th November 2017 With a significant portion of large mineral deposits having been discovered worldwide, and, in many cases, reaching the end of viable economic recovery, phytomining is one option that could be chosen to extract the remaining value from this mined ground, Florida International University... 

Agromining may provide new opportunities to extract remaining value from mined land

Eastplats, HZT settle Crocodile River Mine dispute

By: Natasha Odendaal     24th November 2017 JSE- and TSX-listed Eastern Platinum (Eastplats) and China-based precious metals mining services provider Hebei Zhonghen Tianda Platinum (HZT) have reached a settlement agreement over the disputed 2016 Crocodile River Mine (CRM) share purchase agreement. The settlement terminates the share... 

Nickel rally stalls, electric car boost some years away

By: Reuters     Updated 7 hours ago A recognition that electric vehicles (EVs) are unlikely to move the nickel demand dial for some years, slowing demand from China's stainless steel mills and rising supplies have halted a frenzied price rally and are likely to keep weighing on prices. Benchmark nickel on the London Metal Exchange... 

Red Rock widens FY losses, but confident of stable financial position

By: Natasha Odendaal     Updated 5 hours ago Despite having widened its losses for the year ended June 30, Aim-listed Red Rock Resources chairperson and CEO Andrew Bell on Friday assured shareholders that the company was in an improved financial position. Red Rock reported a post-tax loss of £1.1-million in 2017, increasing from the losses... 

Codelco reports strong Q3 profit as lower costs offset falling grades

By: Henry Lazenby     24th November 2017 The world’s largest copper producer, Chilean State-owned miner Codelco, has reported a strong third-quarter net profit of $1.6-billion, an improvement of more than three times on the loss posted for the same period a year earlier. Executive president Nelson Pizarro attributed the strong... 

Codelco reports strong Q3 profit as lower costs offset falling grades
Photo by Codelco
Codelco executive president Nelson Pizarro

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver

By: Terence Creamer     23rd November 2017 Chemicals and energy group Sasol is preparing to sell several assets, including its Canadian shale gas assets, following an overhaul of its corporate strategy, which eschews any further greenfield gas-to-liquids (GTL) investments in favour of smaller acquisitions and projects of between... 

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver
Photo by Duane Daws
Sasol joint CEOs Bongani Nqwababa and Stephen Cornell

Way paved for PTM's disposal of platinum mine to Royal Bafokeng

By: Creamer Media Reporter      23rd November 2017 TSX-listed Platinum Group Metals (PTM) on Thursday announced that the due diligence and the execution of binding legal agreements to sell Maseve Investment to Royal Bafokeng Platinum (RBPlat) had been concluded. The $74-million deal will see RBPlat pay Maseve an initial $58-million in cash to... 

Mining midmarket enterprises lead gross value-add metric in Canada – HSBC

By: Henry Lazenby     24th November 2017 Mining-focused midmarket enterprises (MMEs) are the leading contributors to gross value-add (GVA) to Canada’s economy, a new report by international banking group HSBC has found. Published on Thursday, and authored by HSBC and Oxford Economics, the ‘Entrepreneurial heartland of MMEs' report found... 

MetalsTech cobalt spinout to list on ASX next year

By: Mariaan Webb     23rd November 2017 Lithium-focused MetalsTech on Thursday announced the potential spinout of its cobalt business and said its subsidiary had secured an option to buy a high-grade cobalt/silver mine in Ontario. MetalsTech, which is headquartered in Western Australia, but has projects in Quebec and Ontario, said it... 

Silvercorp to repurchase 5% of outstanding equity

By: Henry Lazenby     24th November 2017 China-focused precious metals miner Silvercorp Metals has announced a normal course issuer bid for up to 5% of its outstanding equity. The company aims to repurchase 8.4-million of the total of 168.19-million outstanding shares, as at last Thursday. The share buyback programme will run for 12... 

Maverix picks up royalty on Endeavour’s Karma mine

By: Henry Lazenby     24th November 2017 Royalty vehicle Maverix Metals will acquire an existing 2% net smelter return (NSR) royalty from a third-party seller, on Endeavour Mining’s 90% interest in the Karma gold mine, in Burkina Faso, for $20-million in cash. The mine and surrounding tenements were acquired by Endeavour from True Gold... 

Chile lithium miner SQM says legal dispute could linger through 2018

By: Reuters     23rd November 2017 Chilean lithium and fertiliser producer Sociedad Quimica Y Minera (SQM) said on Thursday its ongoing legal dispute with Chilean authorities over royalty payments may not be resolved until the end of 2018. Talks to resolve the arbitration between SQM and Chilean government development agency... 

LSC to acquire Alqa Lihtium, add 2 595 ha in the Salar de Salinas Grandes

By: Henry Lazenby     23rd November 2017 Lithium exploration junior LSC Lithium has entered into a binding contract to acquire all of the outstanding equity of Alqa Lithium, which owns a 100% stake in the Mina Teresa project that comprises 2 595 ha in the Salar de Salinas Grandes, in Jujuy province, Argentina. Under terms of the... 

Vale says Brazil iron royalty hike could hurt high-cost mines

By: Reuters     23rd November 2017 Brazil's Vale, the world's largest iron ore producer, said on Thursday that a hike in the country's royalty rates for the mineral could compromise its ability to maintain high-cost mines and would hurt its ability to compete. Congress passed the higher royalties in votes on Wednesday with the... 

Union for striking workers reaches tentative labour deal at Quebec zinc refinery

By: Reuters     24th November 2017 The United Steelworkers said on Thursday it reached a tentative agreement with Noranda Income Fund on a new labour deal for 371 striking workers at a zinc refinery in Salaberry-de-Valleyfield, Quebec. Zinc output at the plant, operated by a subsidiary of global mining giant and trader Glencore,... 

Alcoa Canada, union resume aluminum smelter contract talks

By: Reuters     24th November 2017 Alcoa Corp and the United Steelworkers have agreed to resume contract talks with a government-appointed conciliator, the union said on Thursday, averting a potential strike at the Becancour, Quebec aluminium smelter. The collective agreement for 1 030 unionised workers expired late Wednesday... 

Semafo chairperson passes

By: Henry Lazenby     24th November 2017 West Africa-focused gold miner and regional explorer Semafo announced the sudden passing of its chairperson Jean Lamarre on Wednesday, following a short illness. Lamarre joined the company’s board in 1997 and was appointed chairperson in 2000, a position he held until his demise. 

Mnangagwa's task to rebuild Zimbabwe economy

By: Bloomberg     23rd November 2017 When Emmerson Mnangagwa takes over from Robert Mugabe as Zimbabwe’s President on Friday, he’ll inherit an economic wasteland that will take years and a complete reversal of some of the government’s signature policies to set right. Among Mnangagwa’s key challenges will be to revive an... 

Kingsgate chair tears into Metal Tiger

By: Mariaan Webb     Updated 3 hours ago Ross Smyth-Kirk, the chairperson of Australian miner Kingsgate Consolidated, had strong words for shareholder Metal Tiger and its CEO, Michael McNeilly, this week, slamming the UK firm’s call for a boardroom coup as an “opportunistic attempt to steal” the assets of the company. Metal Tiger,... 

BMW joins race to secure cobalt for EV batteries

By: Bloomberg     Updated 3 hours ago With one eye on accelerating demand for electric vehicles, BMW AG said it’s talking to suppliers of cobalt and other battery materials amid fears that stocks will run short and push already inflated prices higher. Sourcing of cobalt and other materials is “the most important” question BMW has to... 

Blackham secures A$60m for Matilda-Wiluna

By: Megan van Wyngaardt     Updated 7 hours ago ASX-listed Blackham Resources has taken a major step towards completing the refinancing of its 6.5-million ounce Matilda/Wiluna operation, in Western Australia, with an agreed initial A$60-million funding package with Pacific Road Capital. The proceeds will be used to refinance Blackham’s current... 

Kalium raises funds to move forward on SoP BFS

By: Megan van Wyngaardt     Updated 7 hours ago A recent bookbuild by ASX-listed potash developer Kalium Lakes was oversubscribed and strongly supported by existing and new shareholders, raising A$14.2-million from 33.5-million shares. The company now expects to be fully funded to complete the bankable feasibility study (BFS) at its Beyondie... 

Katoro adds Lidar survey to Imweru PFS

By: Natasha Odendaal     Updated 7 hours ago Aim-listed Katoro Gold has expanded the prefeasibility study (PFS) of its Imweru gold project, in Tanzania, to include a light detection and ranging (Lidar) survey. The Lidar survey, which has been commissioned without compromising the timeline or budget, will use pulsed laser light to create a... 

Clive Palmer wins court case against China's CITIC

By: Reuters     24th November 2017 Australian businessman Clive Palmer said on Friday the Supreme Court of Western Australia awarded his company about A$200-million in damages in a dispute with Chinese conglomerate CITIC. Palmer's Mineralogy claimed it is owed money by CITIC's Sino Iron mine in Western Australia over a failure to... 

Clive Palmer wins court case against China's CITIC
Clive Palmer

Plymouth hoping for strategic industry partner for San Jose project

By: Mariaan Webb     24th November 2017 Exploration and development company Plymouth Minerals is aiming to attract a strategic industry partner for the development of its flagship lithium project in Spain and said on Friday that it was in discussions with European gigafactory developers. The San Jose project, in which Plymouth has a... 

Resolute protects Ravenswood returns with Australian dollar gold hedge

By: Creamer Media Reporter      24th November 2017 Gold miner Resolute Mining has hedged 72 000 oz of gold to take advantage of the recent strength of the Australian dollar gold price. The miner, which operates the Ravenswood mine in Queensland and the Syama mine in Mali, forward sold the gold at an average price of A$1 715/oz, which is a... 

Rio Tinto and Sinosteel extend iron-ore mining JV

By: Mariaan Webb     24th November 2017 Diversified mining group Rio Tino and its long-time joint venture (JV) partner, Sinosteel, have agreed to further extend their Channar iron-ore mining JV. The third extension will see an additional 10-million tonnes of iron-ore delivered into the JV from Western Australia. 

A$12m raised for lithium exploration in southern Mali

By: Mariaan Webb     24th November 2017 Lithium explorer Birimian has received commitments from investors to raise A$12-million for its Goulamina lithium project, in the Bougouni region of Mali. Birimian, which has a listing on the ASX, said on Friday that the placement at A$0.38 a share was “heavily oversubscribed”. 

TNG receives R&D rebate

     24th November 2017 Strategic metals company TNG said on Friday it had received the full amount of its research and development (R&D) refund claim, totalling A$1.73-million. The claim covers eligible test work for the 2016/17 financial year under the federal government’s R&D tax incentive scheme. 

Marmota considering treating Aurora Tank ore at WPG’s Challenger plant

By: Creamer Media Reporter      24th November 2017 ASX-listed junior Marmota is considering various options to bring its Aurora Tank gold project, in South Australia, into production, one of which is to treat ore at fellow listed WPG Resources Challenger gold processing plant, 50 km to the north-east. Marmota and WPG have executed a memorandum of... 

Syrah moves into operations at Mozambique mine

By: Mariaan Webb     24th November 2017 Australia-based Syrah Resources has produced its first saleable flake graphite from the Balama project, in Mozambique, and is now targeting production of 160 000 t to 180 000 t next year. The first bagged saleable flake graphite production was produced within an expected grade range of more than... 

Asian and Australian investors back Kvanefjeld capital raising

By: Mariaan Webb     24th November 2017 ASX-listed Greenland Minerals and Energy has received strong support from international institutional investors in a placement to raise A$10.25-million. The capital raising, in which Ashanti Capital acted as lead manager, was undertaken at an issue price of A$0.09 a share, representing a 21.74%... 

Asian and Australian investors back Kvanefjeld capital raising
Kvanefjeld in Greenland is one of the most significant rare earth projects outside China.

Mining Weekly iPhone and Android Apps available for free download 

     24th November 2017 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 app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Rainbow Rare Earths output on track, discovers new prospects

By: Natasha Odendaal     23rd November 2017 LSE-listed Rainbow Rare Earths is on schedule for first production and sales of rare-earth concentrate from its Gakara rare-earth project, in Burundi, in the fourth quarter of this year. The first shipment is scheduled for the end of this year under a distribution and offtake agreement with... 

South32 intent on resolving Appin, Cannington challenges

By: Mia Breytenbach     23rd November 2017 Having acknowledged challenges at its Australia operations, particularly at the Appin metallurgical coal mine in Illawarra, New South Wales, diversified miner South32’s focus remains on resolving operational challenges and improving operational efficiency. “We had an unacceptable year as we... 

South32 bullish on aluminium, manganese, energy coal prospects

By: Mia Breytenbach     23rd November 2017 With the price of various commodities having improved during the 2017 financial year, diversified miner South32 remains optimistic about the aluminium, manganese and energy coal sectors for the year ahead. “Manganese led the way [in terms of price increases], and metallurgical coal, energy coal,... 

South32 bullish on aluminium, manganese, energy coal prospects
Photo by Bloomberg
South32 CEO Graham Kerr

Edenville eyes efficiency rally at Rukwa on rising demand

By: Natasha Odendaal     23rd November 2017 Aim-listed Edenville Energy is reviewing options to further optimise the efficiency and throughput of its wash plant at the recently commissioned Rukwa coal project, in Tanzania, on expectations of greater demand beyond its planned output of 10 000 t/m. The company started producing washed coal... 

Tharisa reviews dividend policy on improved performance

By: Natasha Odendaal     23rd November 2017 Dual-listed Tharisa is mulling an increase in dividends for the year ended September 30, as well as a change in the dividend policy guiding yearly payouts to shareholders, after reporting expectations of significantly improved earnings for the 2017 financial year. This comes a year after the... 

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