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Goldcorp earnings slide on lower output, sales

By: Henry Lazenby     26th April 2018 Canadian mining major Goldcorp has reported a sharp drop in first-quarter profit, as higher gold prices failed to offset lower production, sales and rising costs. The Vancouver-based miner reported profit of $67-million, or $0.08 a share, which was far removed from the $170-million, or $$0.20 a... 

Goldcorp earnings slide on lower output, sales
Photo by Goldcorp
Goldcorp's Eleonore mine, in Quebec

Vale’s Q1 earnings slump despite record sales volumes, as price tumbles

By: Henry Lazenby     26th April 2018 Brazilian diversified miner Vale – the world’s largest producer iron-ore – has reported a bigger than 36% drop in profit attributable to shareholders for the three months ended March 31. The Rio de Janeiro-based multinational blamed a 12.4% slide in iron-ore prices to $66.41/t in the period for... 

N American oil & gas, mining sectors released a third of total 2013 pollution – report

By: Henry Lazenby     25th April 2018 A new report that fine-combed the national pollutant release and transfer registers (PRTRs) of Canada, the US and Mexico to explore pollutant data reported by industrial facilities, has pointed to the critical need to standardise the way information is collected across the three jurisdictions,... 

N American oil & gas, mining sectors released a third of total 2013 pollution – report

Sherritt narrows Q1 loss as metals prices jump

By: Henry Lazenby     26th April 2018 Canadian diversified miner Sherritt International has reported a narrower first-quarter headline loss of C$14.7-million, or C$0.04 a share, compared with a loss of C$82.7-million, or C$0.28 a share, for the same period of 2017, mainly as higher metals prices made up for lower output. Sherritt... 

Antofagasta Q1 copper output down 10.5%

By: Reuters     25th April 2018 Chilean-focused Antofagasta said first quarter copper production fell by 10.5% to 153 800 t compared with the same quarter a year ago, mainly because of lower quality ore, but kept full-year output guidance unchanged. The issue of ore quality in mature copper regions, especially Chile, the... 

Southern Copper says legal dispute over Peru's Tia Maria resolved

By: Reuters     26th April 2018 Southern Copper's CEO said on Wednesday it had reached a settlement with a company in Peru that blocked development of its $1.4-billion Tia Maria project with a legal injunction. Southern Copper's Oscar Gonzalez told Reuters he hoped the new government of Peruvian President Martin Vizcarra would... 

Kyrgyz State miner has not seen Chaarat's Kumtor takeover offer

By: Reuters     25th April 2018 Kyrgyz gold miner Kyrgyzaltyn has not yet seen or studied an offer by Chaarat Gold to take over the Kumtor gold mine, its deputy CEO, Bektur Sagynov, said on Wednesday. Chaarat Gold on Tuesday made a proposal to buy Kyrgyzstan's largest gold mine, Kumtor, from Canada's Centerra Gold for an... 

Canada's First Cobalt eager for more after US Cobalt buy

By: Reuters     26th April 2018 Canada's First Cobalt, which has just bought another cobalt developer, is keen for more acquisitions to accelerate bringing on production to meet North American demand, a senior company official said. Expectations of soaring demand for cobalt because of its use in electric vehicles has inspired... 

Fresnillo reports higher Q1 silver and gold output

By: Creamer Media Reporter      25th April 2018 Mexico-focused Fresnillo has reported a year-on-year increase in silver and gold production during the March quarter, as the new San Julian JM (Phase 2) mine is now operating at full capacity.contribution to output. Silver production jumped 14% to 14.24-million ounces, when compared with the... 

Miner Grupo Mexico's profit jumps 24% in Q1

By: Reuters     26th April 2018 Grupo Mexico, one of the world's biggest copper producers, said on Wednesday that its net profit for the first quarter was $513-million, up 24.3%. The company, which also has units in infrastructure and railways, said its revenue totalled $2.67-billion during the quarter from January to March. 

Exxaro seeks shareholder approval for Tronox stake sale

By: Marleny Arnoldi     25th April 2018 Diversified miner Exxaro Resources is seeking shareholder approval to monetise its remaining stake in US mineral sands company Tronox.  

Weatherly’s shares fall as it appoints more financial advisers to review possible sale

By: Marleny Arnoldi     Updated 1 hour 13 minutes ago Aim-listed copper miner Weatherly International’s share price on the LSE fell by nearly 70% on Thursday after it announced the appointment of additional financial advisers to review strategic alternatives for the company, including its potential sale.  

PTM completes Maseve mine sale

By: Anine Kilian     Updated 1 hour 17 minutes ago Platinum Group Metals (PTM) has concluded the sale of its equity in Maseve Investments, the holding company of the Maseve mine, to Royal Bafokeng Platinum (RBPlat).  The aggregate consideration for the sale comprised 4.871-million RBPlat common shares, which have been delivered, and the... 

New association aims to raise level of debate on energy economics in South Africa

By: Terence Creamer     Updated 1 hour 24 minutes ago A new independent professional organisation was launched in Pretoria on Thursday with the aim of raising the level of research and debate on energy economics in South Africa, where policy and regulatory uncertainty remain a major constraint to investment. Named the South African Association for... 

New association aims to raise level of debate on energy economics in South Africa
Photo by Dylan Slater
SAAEE president Professor Roula Inglesi-Lotz

W completes drilling campaign at Tarouca tungsten project

By: Marleny Arnoldi     Updated 1 hour 45 minutes ago Aim-listed W Resources has completed a reverse circulation (RC) drilling campaign at its Tarouca tungsten and tin exploration licence in Portugal.  

Norilsk sees increase in all metals during Q1

By: Anine Kilian     Updated 1 hour 48 minutes ago Russian palladium and nickel mining company Norilsk Nickel, which also owns operations in Finland and South Africa, increased production of all key metals in the first quarter of the year. “The main phase of our downstream reconfiguration programme was completed last year and work-in-progress... 

Bezant sells Colombia platinum/gold project

By: Marleny Arnoldi     Updated 1 hour 55 minutes ago Aim-listed mineral exploration and development company Bezant Resources has entered into a legally binding agreement for the sale of its wholly-owned subsidiaries Ulloa Recursos Naturales to Auvert Mining Group.  

Gem lifts Q1 production, sales

By: Anine Kilian     Updated 2 hours 18 minutes ago LSE-listed Gem Diamonds’ carat recoveries increased by 32% year-on-year to 33 526 ct for the three months ended March 31, compared with the 25 479 ct recovered in the first quarter of 2017. Carat recoveries also rose by 10% on the 30 560 ct recovered in the December 2017 quarter. 

Lucara recovers 327 ct diamond from Karowe

By: Anine Kilian     Updated 2 hours 21 minutes ago Diamond producer Lucara Diamonds has recovered a 327 ct, top white gem diamond from its 100%-owned Karowe diamond mine, in Botswana.  Eight diamonds greater than 100 ct have now been recovered at Karowe since the beginning of the year, including a 472 ct diamond. 

Implats reports 17% increase in tonnes milled in Q3, stock build-up remains

By: Marleny Arnoldi     Updated 2 hours 52 minutes ago A stronger mining performance at Impala Platinum’s (Implats’) Impala Rustenburg and Marula operations resulted in a 17% year-on-year improvement in tonnes milled to 4.59-million tonnes for the third quarter ended March 31.  

Implats reports 17% increase in tonnes milled in Q3, stock build-up remains
Impala Platinum CEO Nico Muller

Morrocan king to sign trade, mining deals with Congo republic

By: Bloomberg     Updated 2 hours 59 minutes ago Moroccan King Mohammed VI will sign a series of investment agreements in a visit to Congo Republic this weekend, Environment & Tourism Minister Arlette Soudan-Nonault said. Mohammed will travel to the Central African nation for an April 28 summit of leaders to discuss the Congo Basin Blue Fund,... 

Bulk sample collection under way at Savannah’s Mina do Barroso

By: Marleny Arnoldi     Updated 3 hours ago Aim-listed diversified miner Savannah Resources on Thursday announced that the collection of a bulk sample is under way at its NOA deposit, which is one of three primary target areas that are currently being advanced at the Mina do Barroso lithium project, in Portugal.  

Bulk sample collection under way at Savannah’s Mina do Barroso
Savannah Resources CEO David Archer

Goa iron-ore mines in legal uncertainty over mine closure plans

By: Ajoy K Das     Updated 5 hours ago Iron-ore mines in the western Indian province of Goa, which were closed under a Supreme Court order, have been caught in a legal grey area relating to implementation of mine closure plans. As per regulations, every mine that closes down has to comply with mine closure plans approved by the... 

RBPlat CFO resigns

By: Anine Kilian     Updated 5 hours ago Martin Prinsloo has resigned as CFO and executive director of Royal Bafokeng Platinum (RBPlat), effective August 10. He has been with the company for nine years and is leaving to pursue other opportunities. 

India, Iran near a truncated deal on gasfield development

By: Ajoy K Das     Updated 5 hours ago India and Iran are closing in on a deal for the development of the Farzad B gasfield, albeit of a much smaller size. Diplomatic negotiations between the two countries since early this year have narrowed down differences on the gas project and this will be followed up by a consortium of Indian... 

Kaz Minerals reports q-on-q production increase

By: Marleny Arnoldi     Updated 5 hours ago Copper-focused mining company Kaz Minerals’ copper production increased by 3% to 67 300 t in the first quarter of 2018, compared with 65 200 t in the fourth quarter of 2017.  

Kaz Minerals reports q-on-q production increase
Kaz Minerals' Bozymchak mine

Fuel cell frenzy as cars, plants deploy platinum to protect environment

By: Martin Creamer     Updated 5 hours ago Hyundai has just launched its new Nexo fuel cell car in South Korea, pre-orders for Honda’s 2018 Clarity fuel cell car have exceeded expectations, Doosan Fuel Cell America has cut the ribbon on three 460 kW fuel cells at the Waterbury Pollution Control Authority in Connecticut, FuelCell Energy... 

Fuel cell frenzy as cars, plants deploy platinum to protect environment
The NEXO, Hyundai's latest fuel cell vehicle

Keliber applies for lithium mine enviro permit

By: Creamer Media Reporter      Updated 5 hours ago Finnish mining company Keliber has submitted the environmental and water permit application for its proposed Syväjärvi lithium mine. The permit application to the Regional State Administrative Agency of Inner and Western Finland includes the ore and waste rock mining, stockpiling the waste rock,... 

Russia, betting on EU-Trump talks, keeps powder dry in Rusal row for now

By: Reuters     Updated 5 hours ago Moscow is holding off on taking retaliatory measures against the United States for imposing sanctions on Rusal, hoping the EU can persuade Washington to ease restrictions against the world's second largest aluminium producer further, sources told Reuters. The United States on Monday gave... 

$91m acquisition adds fourth operating mine to Highland Gold portfolio

By: Mariaan Webb     Updated 5 hours ago Aim-listed Highland Gold on Thursday announced the $91-million acquisition of a producing mine and two licences in Russia’s Chukotka region, where the company already owns the Kekura and Klen development projects. The assets, which were previously under the management of Highland CEO Denis... 

$91m acquisition adds fourth operating mine to Highland Gold portfolio

MC Mining’s Q3 output falls on equipment availability challenges at Uitkomst

By: Anine Kilian     Updated 6 hours ago Equipment availability challenges resulted in an 18% quarter-on-quarter decrease in production at MC Mining’s Uitkomst metallurgical and thermal coal colliery to 115 750 t for the three months ended March 31. “The contract miner experienced equipment availability challenges during the quarter,... 

MC Mining’s Q3 output falls on equipment availability challenges at Uitkomst
Photo by Creamer Media
MC Mining CEO David Brown

Santos delivers Scotia project 16% under budget

By: Esmarie Swanepoel     Updated 7 hours ago ASX-listed Santos has completed the commissioning and start up of its $400-million Scotia project, in the Bowen basin of Queensland. The company told shareholders that the project was completed ahead of schedule and under budget, with initial full field production exceeding 40 TJ/d, in line... 

Santos delivers Scotia project 16% under budget

Woodside signs gas supply MoU with Perdaman

By: Esmarie Swanepoel     Updated 7 hours ago Australian oil and gas producer Woodside has signed a memorandum of understanding (MoU) with multinational Perdaman to supply gas to the proposed $3.5-billion coal-to-urea plant being developed on the Burrup Peninsula. Under the MoU, Woodside will supply some 125 TJ/d of domestic gas to the... 

Newcrest cuts FY forecast on Cadia tailings incident

By: Esmarie Swanepoel     Updated 7 hours ago Gold miner Newcrest Mining has lowered its full-year production guidance on the back of the tailings breakthrough at its Cadia operations, in New South Wales. Gold production for the 2018 financial year, which ends in June, has been revised from between 2.4-million and 2.7-million ounces, to... 

Renascor finds buyer for Siviour graphite

By: Esmarie Swanepoel     Updated 7 hours ago ASX-listed Renascor Resources has signed its first offtake memorandum of understanding (MoU) over its Siviour graphite project, in South Australia. The MoU, with China’s Qingdao Chenyang Graphite, would see Renascor supply graphite concentrate from Siviour in accordance with its proposed stage... 

Taurus acceptance of Finders offer cancelled

By: Esmarie Swanepoel     Updated 7 hours ago The Australian Takeovers Panel has made a declaration of unacceptable circumstances relating to the takeover of ASX-listed Finders Resources. The Australian Securities and Investment Commission (Asic) at the end of March made an application to the Takeovers Panel asking that some acceptances of... 

Sanbrado gets environmental nod

By: Esmarie Swanepoel     Updated 7 hours ago The Burkina Faso Ministry of the Environment, Green Economy and Climate Change has given environmental approval to the Sanbrado gold project. Project developer West African Resources said on Thursday that the environmental approval was a key milestone towards the development of the project. 

Paladin moves to mothball Namibia uranium mine

By: Esmarie Swanepoel     Updated 7 hours ago Uranium miner Paladin Energy on Thursday announced that it was unlikely to resume physical mining activities at its Langer Heinrich operation, in Namibia, and has taken preparatory steps to place the operation on care-and-maintenance. Paladin previously told shareholders that the medium-grade... 

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