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Iron-ore futures fall below $40/t as new Australian supply arises

By: Martin Creamer The iron-ore price on Singapore's most active iron-ore futures market was below $40/t for the first time, Investec noted on Monday, when it reported that additional iron-ore supply was about to be shipped from Gina Rinehart’s new Roy Hill iron-ore mine, in Australia. Quoting Bloomberg, Investec... 

Iron-ore futures fall below $40/t as new Australian supply arises
Anglo American's Kumba Iron Ore under strain at Sishen in Northern Cape

Colombia makes mining progress as Peru struggles with social issues

By: Simon Rees Columbia remains a jurisdiction with excellent potential for mining companies and investors, but risks remain, while permitting delays persist. Peru, too, remained a leading jurisdiction for mining, but higher levels of social unrest were worrisome, delegates at On the Ground Group’s recent Mine... 

Colombia makes mining progress as Peru struggles with social issues

Brazil to sue BHP, Vale for $5bn in damages for dam burst

By: Reuters Brazil's federal and state governments plan to sue the owners of the Samarco iron ore miner for 20-billion reais ($5.24-billion)in damages caused by the burst of a tailings dam, Environment Minister Izabella Teixeira told reporters on Friday. Samarco is a joint venture between BHP Billiton and... 

Canadian commodities rally short-lived

By: Megan van Wyngaardt After dropping to a decade low in August and September, Scotiabank's Commodity Price Index rallied 3.7% month-on-month in October, but remained 29.1% lower than a year ago. An easing of concern over the slowdown in China's economy and a potential US Federal Reserve (Fed) interest rate hike... 

Aquila’s Michigan application process administratively complete

By: Creamer Media Reporter Canadian project developer Aquila Resources’ mine permit application for its Back Forty project, in the US, was administratively complete, the company reported on Friday. Aquila said that the Michigan Environment Quality Department had completed its initial review of the application and that it... 

Scorpio Gold on track to meet guidance despite challenges

By: Megan van Wyngaardt After three strong quarters of production at TSX-listed Scorpio Gold’s Mineral Ridge project, in Nevada, the company remains on track to meet its full-year production guidance of 38 000 oz to 40 000 oz, but the company is facing some challenges. In the three months ended September 30, the mine... 

Goldcorp reports fatality at Ontario mine

By: Creamer Media Reporter Gold miner Goldcorp has suspended operations at its Musselwhite mine, in northern Ontario, after a scoop operator died in a fall-of-ground accident on Wednesday. The company stated on Friday that operations were suspended to allow for a review and reinforcement of safety procedures. 

Codelco profits tank, nine-month copper production up slightly

By: Reuters Chilean State-run copper producer Codelco said on Friday pretax profit for the period from January to September fell 47% to $1.2-billion, dragged down by a falling copper price. The world no.1 copper producer produced 1.26-million tonnes of copper during those months, a 2% rise from a year ago,... 

Nickel's hiatus may be brief without output cuts, stronger demand

By: Reuters Nickel's spectacular fall since the middle of last year may have come to a halt, but without significant, enduring output cuts and stronger demand from China's stainless steel mills the reprieve could be brief. Benchmark nickel on the London Metal Exchange fell to $8 145 /t earlier this week,... 

K+S suspends production at two mines after approval delay

By: Reuters German potash miner K+S said it will suspend production at two mines from December 1 for possibly a number of weeks because it has not yet received regulatory approval for the discharge of saline waste water. K+S warned earlier this week that a regional environmental regulator will taking longer... 

Creamer Media publishes African Mining Projects in Progress - Second Edition

Creamer Media’s second edition of its African Mining Projects in Progress 2015 report tracks project developments taking place across various mining sectors on the continent, including coal, copper, gold, iron-ore, platinum and uranium.  

Creamer Media publishes African Mining Projects in Progress - Second Edition

Aureus signs funding deals to accelerate mining in Liberia

By: Megan van Wyngaardt     Updated 7 hours ago Africa-focused Aureus Mining has signed a $10-million liquidity facility with Rand Merchant Bank and Nedbank, as well as an $11.5-million brokered equity financing deal, at a price of 5p a share, with GMP Securities Europe and Numis Securities. The agreement with GMP and Numis would see a private... 

$210m Moz-to-SA gas pipeline expansion moves ahead

By: Creamer Media Reporter      Updated 7 hours ago The 865 km gas pipeline from the central processing facility (CPF) in Temane, Mozambique, to Secunda, South Africa, is to undergo a further $210-million expansion, the Republic of Mozambique Pipeline Investments Company (Rompco) confirmed on Monday. Rompco is a joint venture between JSE-listed... 

$210m Moz-to-SA gas pipeline expansion moves ahead

Sibanye’s platinum asset acquisitions nearing completion

By: Megan van Wyngaardt Significant progress has been made on advancing and finalising the acquisitions of Anglo American Platinum’s (Amplats’) Rustenburg operations and Aquarius Platinum, Sibanye Gold said on Monday. Aquarius and Sibanye in October entered into an implementation agreement under which a wholly owned... 

Sibanye’s platinum asset acquisitions nearing completion
Photo by Duane Daws
Sibanye CEO Neal Froneman

Mineralogy's $10bn bid stumbles

By: Esmarie Swanepoel A Western Australian Supreme Court Judge has ruled that mining personality Clive Palmer’s Mineralogy’s legal proceedings against Chinese government-owned Citic is an "abuse of process" and "unjustifiably oppressive and vexations". Judge John Chaney last week permanently stayed two legal actions... 

BHP says Brazil plans $5bn legal suit over Samarco disaster

By: Esmarie Swanepoel Mining giant BHP Billiton said on Monday that it had not yet received any formal notice of legal action from Brazil, after the country’s federal and certain state governments announced on Friday that a $5.2-billion legal claim would be instituted against the company, its joint venture (JV)... 

WA to be well supplied with gas for next decade – report

By: Esmarie Swanepoel The latest gas statement of opportunities (GSOO) released by Western Australia’s Independent Market Operator (IMO) has forecast that the state’s gas production would continue to exceed demand between 2016 and 2025, with potential gas supply at least 107 TJ a day greater than current demand, and... 

Australia mining investment to fall 60%, major job losses forecast

By: Esmarie Swanepoel Mining investment in Australia was expected to decline by nearly 60% over the next three years, compared with the 2014/15 levels, while job losses in the sector would take the same trend, economic forecaster and industry analyst BIS Shrapnel reported on Monday. “We haven’t hit bottom yet on... 

New NT land access process seeks to strike balance between explorers, pastoralists

By: Esmarie Swanepoel The Northern Territory government on Monday announced a new process for land access agreements between the mining, petroleum and agriculture industries. The new process included the establishment of a land access agreements for exploration activities considered to create more disturbance, and... 

New NT land access process seeks to strike balance between explorers, pastoralists

Colluli's economics confirmed - Danakali

By: Esmarie Swanepoel A definitive feasibility study (DFS) into the Colluli potash project, in Eritrea, has reduced the expected capital expenditure to bring the project into production by about 30%, owner Danakali reported on Monday. A March prefeasibility study into the project had estimated that the Stage 1... 

Newcrest spends big on Nicaragua farm-in

By: Esmarie Swanepoel Australian gold miner Newcrest Mining has signed a farm-in agreement with junior Oro Verde over the Topacio gold project, in Nicaragua. Newcrest reported on Monday that it would sole fund an initial $500 000 in direct expenditure within the first 12 months of the farm-in period to test the... 

Endeavour completes La Mancha buy

By: Esmarie Swanepoel Dual-listed gold miner Endeavour Mining has completed the acquisition of gold investment company La Mancha Holdings’ assets. Endeavour’s shareholders in early November approved a partnership with La Mancha, would see the gold miner acquire La Mancha’s indirect 55% interest in Société des Mines... 

Berkeley to optimise Spanish uranium project

By: Esmarie Swanepoel ASX-listed junior Berkeley Energia has launched optimisation studies at its Salamanca uranium project, in Spain, in order to reduce operating costs. The recent inclusion of the high-grade Zona 7 deposit into the Salamanca prefeasibility study had transformed the economics of the project,... 

Mincor announces management succession

By: Esmarie Swanepoel Nickel miner Mincor Resources has announced the succession of its MD David Moore, who will switch to a non-executive role after 16 years at the helm of the company. Moore will move to the position of deputy chairperson from March 1. However, he will remain actively involved in the company, but... 

Falling Aussie dollar saves gold sector

he declining value of the Australian dollar has been hailed as the saviour of the country’s gold sector, with mining consultancy Surbiton Associates saying that the gold sector remained in good shape, despite the negative market sentiment associated with the current US dollar gold price, which... 

Brazil regulator to apply additional fines against Samarco

By: Reuters Brazil's environmental regulator is planning additional fines against iron ore miner Samarco on top of the 20-billion reais in damages and clean-up charges the government is seeking, the country's attorney general, Luis Adams, said on Friday. The regulator, known as Ibama, has already fined... 

Large China copper smelters agree to cut production 5% in 2016

By: Reuters Nine large copper producers in China have agreed to cut refined metal production by more than 200 000 t in 2016 or around 5% from this year's level, an executive at one of the producers said on Saturday. The nine producers also will ask the state-controlled industry body, China Nonferrous Metals... 

Brazil dam disaster shows flaws in decrepit mining regulator

By: Reuters With leaking windows, moldy walls and piles of paper where you might expect computers, the office of Brazil's National Department of Mineral Production speaks volumes about the regulation of the country's mining industry. The office, in the capital city of the mine-rich state of Minas Gerais, is... 

Gold dips to near 6-year low, set for sixth straight weekly drop

By: Reuters Gold dipped to its lowest level in nearly six years on Friday and was heading for a sixth straight weekly decline under pressure from a firm dollar and prospects of a US interest rate rise next month. Spot gold hit $1 055.99 /oz, its lowest since February 2010, and was down 1.5% at $1 057.27 by... 

Gold dips to near 6-year low, set for sixth straight weekly drop

Moody's, S&P ratings on South African power firm Eskom unchanged

By: Reuters Ratings firms Moody's and Standard and Poor's kept South African utility Eskom's credit status unchanged, saying recent cash injections by government had eased a funding crunch, the power firm said on Friday. Moody's affirmed the Ba1, or speculative grade, rating of state-owned Eskom's senior... 

Moody's, S&P ratings on South African power firm Eskom unchanged

AfriForum moves against fracking regulation

By: RDM News Wire AfriForum has taken its fight against fracking a step further. The group released a statement on Friday saying it had‚ together with the Treasure the Karoo Action Group (TKAG)‚ submitted documentation at the North Gauteng High Court “challenging the regulations with regard to petroleum... 

AfriForum moves against fracking regulation

Petra recovers 23 ct pink diamond in Tanzania 

By: Megan van Wyngaardt Petra Diamonds has recovered a 23.16 ct pink diamond of “exceptional colour and clarity” from its Williamson mine, in Tanzania. The company said in a statement that the diamond was an example of the high-quality pink diamonds for which the mine was known and was the most significant recovery by... 

Petra recovers 23 ct pink diamond in Tanzania

Kganyago warns of ‘exaggerated’ rand reaction to likely Fed hike 

By: Terence Creamer South African Reserve Bank governor Lesetja Kganyago believes the reaction of the rand to a possible hike in interest rates by the US Federal Reserve (Fed) in mid-December could be “exaggerated”, but says the bank has no plans intervene in support of the currency. Speaking to editors on Friday,... 

Kganyago warns of ‘exaggerated’ rand reaction to likely Fed hike
South African Reserve Bank governor Lesetja Kganyago

Stellar submits Tongo mining licence application

By: Creamer Media Reporter Aim-listed Stellar Diamonds has formally submitted its application for a large-scale mining licence for the Tongo project to the Sierra Leone National Minerals Agency (NMA). The application would be processed by the NMA and then forwarded to the Minerals Advisory Board, which would make a... 

Anglo Pacific posts higher Q3 royalties

By: Natasha Odendaal LSE- and TSX-listed Anglo Pacific Group has continued to achieve growth in royalty income in the third quarter of the year. The group on Friday posted a significant rise in royalty earnings for the third quarter to September 30, with royalty-related income increasing from £500 000 in the... 

India and Afghanistan won't pursue mining, steel project

By: Ajoy K Das India and Afghanistan have called off all talks on a proposed $11-billion iron-ore mining and steel mill project by a consortium of Indian metal companies. According to a senior government official, the Indian government, which had been supporting the Indian consortium through bilateral talks... 

Industry body welcomes Alaska, BC water protection pact

By: Creamer Media Reporter The Association for Mineral Exploration British Columbia (AME BC) has welcomed the signing of a memorandum of understanding (MoU) and cooperation between the US state of Alaska and the Canadian province of British Columbia to protect their shared waterways. The MoU, which was signed on Wednesday,... 

Rio Tinto exec sees less of a push towards diversification

By: Esmarie Swanepoel Diversified major Rio Tinto copper and coal CEO Jean-Sébastien Jacques said this week that diversification of mining companies’ portfolios was no longer seen as a hedge against bad times. Speaking in Sydney, he predicted that there would be a shift towards a multi-specialist model, as mining... 

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