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SolGold says finalising Cornerstone bid documents

By: Mariaan Webb     Updated 1 hour 9 minutes ago Australia-based SolGold said on Tuesday that it was finalising bidding documents for TSX-V-listed Cornerstone Resources, which earlier criticised its suitor and project partner for a “consistent track record of delays”. It has been two months since SolGold first announced a proposed takeover of... 

SolGold says finalising Cornerstone bid documents

‘Difficult decisions’ at lithium developer Nemaska

By: Creamer Media Reporter      Updated 3 hours ago Lithium junior Nemaska Lithium has been forced to set a new pace for construction activities at its Whabouchi mine and Shawinigan plant, after a project cost-blowout left it short of cash. The mine construction pace will be adjusted to start production in a “timely fashion”, the Quebec-focused... 

‘Difficult decisions’ at lithium developer Nemaska

EPA chief recused from Bristol Bay mine law firm represented

By: Bloomberg     Updated 4 hours ago EPA Administrator Andrew Wheeler is formally recusing himself from agency reviews and permitting decisions on a proposed gold and copper mine near Alaska’s Bristol Bay amid criticism his former law firm represented the developer. Wheeler promised to steer clear of matters involving the... 

EPA chief recused from Bristol Bay mine law firm represented
EPA head Andrew Wheeler

RNC buys Westgold’s Higginsville to combine with Beta Hunt

By: Esmarie Iannucci     Updated 4 hours ago ASX-listed Westgold Resources has signed a A$50-million divestment deal over its Higginsville gold operation with TSX-listed RNC Minerals, which will result in the combination of the Higginsville and Beta Hunt mines. Under the terms of the agreement, RNC would pay A$25-million in cash and a... 

Poplar Grove's first sale delayed

By: Esmarie Iannucci     Updated 4 hours ago Coal miner Paringa Resources had delayed the first coal sales from its Poplar Grove operation, in Kentucky, by two weeks until the week of April 22. The ASX-listed company on Tuesday said that the delay in coal sales resulted from the decision to install the slope conveyor sooner than originally... 

Referendum forces IVN to move proposed gold plant

By: Creamer Media Reporter      Updated 3 hours ago The Ecuadorian canton in which IVN Metals had planned to establish the gold processing and tailings facility for its Loma Larga project has said no to mining activities in this weekend's referendum, forcing the TSX-listed project developer to adjust its plans for the gold operation. IVN Metals... 

Master Drilling’s full year performance underpinned by Americas, Europe success

By: Marleny Arnoldi     Updated 4 hours ago JSE-listed Master Drilling expanded its operations to Canada, Turkey, Ghana and Italy and saw growth in Brazil and Mexico during the financial year ended December 31, 2018. This helped to offset headline earnings decreases in a tough African market.  

Master Drilling’s full year performance underpinned by Americas, Europe success
Master Drilling CEO Danie Pretorius

Chile launches tender for value-added lithium projects

By: Reuters     Updated 4 hours ago Chile said on Monday it would shortly begin accepting bids from local and foreign companies seeking to develop battery materials within the South American nation using discounted Chilean lithium provided by top miner SQM. Chilean authorities struck a deal in January 2018 with SQM that ended a... 

Newmont offers special dividend if Goldcorp deal is approved

By: Mariaan Webb     25th March 2019 US-based gold miner Newmont has won over the shareholders that were critical of its merger with Canada-based Goldcorp, with a promise of a $0.88c a share special dividend should the $10-billion transaction succeeds. The special dividend will give shareholders an immediate cash benefit from the... 

Newmont offers special dividend if Goldcorp deal is approved
Newmont CEO Gary Goldberg

Global emissions hit record as energy demand boosts fuel use

By: Bloomberg     Updated 15 minutes ago Carbon emissions from fossil-fuel use hit a record last year after energy demand grew at its fastest pace in a decade, reflecting higher oil consumption in the US and more coal burning in China and India. Those findings from the International Energy Agency mark a setback for the effort to rein in... 

ISS throws weight behind Newmont-Goldcorp merger

By: Mariaan Webb     Updated 47 minutes ago Proxy advisory firm Institutional Shareholder Services (ISS) has recommended that Newmont shareholders vote in favour of the US major’s $10-billion takeover of Canadian miner Goldcorp at a general meeting next month. ISS said on Tuesday that a vote for the proposal was warranted, given the “solid... 

Dalian iron-ore slides as Australian miners resume operations

By: Reuters     Updated 3 hours ago Dalian iron ore closed lower on Tuesday after major iron ore miners in Australia resumed some operations after cyclones, easing concerns over tight supply of the steel-making ingredient. Rio Tinto said that staff were returning to its iron ore ports and rail operations in Western Australian,... 

Canavan announces enviro regulation changes for oil and gas project

By: Esmarie Iannucci     Updated 4 hours ago Recent changes to the Australian environmental regulations will require all environment plans for offshore oil and gas activities to be published, and draft environment plans for offshore seismic and exploratory drilling activities to be opened for public comment. Federal Resources Minister Matt... 

Sorby Hills gets A$95m price tag

By: Esmarie Iannucci     Updated 4 hours ago The Sorby Hills base metals project, in Western Australia, could produce some 249 000 t of lead and 9.35-million ounces of silver a year, a prefeasibility study (PFS) has found. The one-million-tonne-a-year operation would have an initial eight-year mine life, based on the current indicated... 

Grange spends big at Savage River

By: Esmarie Iannucci     Updated 4 hours ago ASX-listed Grange Resources will spend A$15-million on an exploration decline at its Savage River iron-ore project, in Tasmania, to allow for diamond drilling of the North Pit as part of it’s a$3.5-million prefeasibility study. The exploration decline will be 5.5m wide and 5.8m high, and would... 

Cazaly cuts costs at Parker Range

By: Esmarie Iannucci     Updated 4 hours ago A cost study on the Parker Range iron-ore project, in Western Australia has lowered the capital and operating cost estimates for the project, ASX-listed Cazaly Resources announced on Tuesday. The initial definitive feasibility study, completed in 2011, estimated a capital cost of... 

Pilgangoora Stage 3 proves up

By: Esmarie Iannucci     Updated 4 hours ago A scoping study into the Stage 3 expansion of the Pilgangoora lithium project has delivered positive results, ASX-listed Pilbara Minerals told shareholders. The Stage 3 expansion would increase output at Pilgangoora from the Stage 2 production of between 800 000 t/y and 850 000 t/y of... 

Mining body says 90 000 jobs at risk from electricity price hikes

By: News24Wire      Updated 4 hours ago The Minerals Council South Africa has said that as many as 90 000 jobs in the country's mining sector could be at risk "solely as a result" of recent electricity tariff increases. "Given the mining sector’s dependency ratio of 10 people supported by each mining job, the potential socio-economic... 

 Mining body says 90 000 jobs at risk from electricity price hikes
Photo by Creamer Media's Dylan Slater
Minerals Council South Africa CEO Roger Baxter

Drilling oil in one of fastest ocean currents tests total

By: Bloomberg     Updated 5 hours ago Total’s discovery of South Africa’s first oil in deep water could prove to be a bonanza for a country lacking crude reserves of its own and prompt a rush from other majors. That’s if they’re able to solve the engineering challenges of operating in one of the fastest ocean currents in the world.... 

Drilling oil in one of fastest ocean currents tests total

Wesfarmers makes A$1.5bn bid for Lynas

By: Esmarie Iannucci     26th March 2019 Rare earths miner Lynas went into a trading halt on Tuesday after fellow-listed Wesfarmers launched a A$2.25c a share cash offer for the company. The A$1.5-billion cash bid offered a premium of 44.7% to Lynas’ last closing price, and a 36.4% premium to its 60-day volume weighted average share... 

Wesfarmers makes A$1.5bn bid for Lynas

Kibo provides update on four key projects

By: Simone Liedtke     25th March 2019 JSE- and Aim-listed Kibo Energy on Monday confirmed that it is developing four key projects – two thermal coal power projects, in Botswana and Mozambique; a UK-focused flexible energy portfolio; and an advanced coal-to-power project, in Tanzania – in parallel. The projects fall in line with the... 

Bushveld to publish maiden mineral resource estimate for Brits project in Q2

By: Marleny Arnoldi     25th March 2019 Aim-listed vanadium producer Bushveld Minerals expects to deliver a maiden mineral resource estimate for its Brits project, in South Africa’s North West province, before the end of the second quarter. The project lies adjacent to the company’s Vametco openpit mine and processing facility.  

Thorny River on track to become diamond producer by mid-2019

By: Simone Liedtke     25th March 2019 Aim-listed Botswana Diamonds has confirmed that its Thorny River diamond dyke project, in South Africa, remains on track to start bulk sampling and diamond production by the middle of this year. Bulk sampling is anticipated to start in May, assuming final permits are obtained in time, and will... 

90 000 gold and platinum jobs at risk as Eskom hikes loom 

By: Terence Creamer     25th March 2019 The Minerals Council South Africa is ringing alarm bells over the threat posed to employment and production in the gold and platinum sectors as a result of recently approved electricity tariff increases, including the 13.8% hike to be implemented from April 1. In addition, the council is warning... 

90 000 gold and platinum jobs at risk as Eskom hikes loom

Court halts operations at 13 Vale dams, operations at major mine affected

By: Reuters     25th March 2019 A Brazilian court has issued an injunction ceasing operations at several tailings dams owned by mining firm Vale, the iron-ore giant said on Monday, which will hit production at a major mine. The injunction, issued in response to a motion by prosecutors in the state of Minas Gerais, requires... 

Barrick to reinvent Latin American mines – Bristow

By: Mariaan Webb     25th March 2019 Gold mining major Barrick is committed to its operations in Latin America and will reinvent the way its Veladero mine, in Argentina, operates and will devise a new plan for Lagunas Norte, in Peru, says CEO Mark Bristow. The Veladero mine, in which China’s Shandong Gold Group is Barrick’s equal... 

Barrick to reinvent Latin American mines – Bristow
The Veladero mine in Argentina.

Caledonia Mining to expand gold exposure in Zimbabwe

By: Reuters     25th March 2019 Gold miner Caledonia Mining is seeking ways to deepen its investment in Zimbabwe even though a currency crisis has dented its earnings and bureaucracy has slowed the company's purchase of an increased stake. The end of Robert Mugabe's rule in 2017 after an army coup led to a rush of excitement... 

Lonmin warns on liquidity and persistent challenges

By: Reuters     25th March 2019 Lonmin, which is being bought by Sibanye-Stillwater, said it does not have sufficient liquidity to fund the new projects needed to avoid shaft closures and job losses. The London-listed miner, crippled by soaring costs and subdued platinum prices, has been cutting spending to conserve cash and... 

M&R acquires another US-based firm 

By: Simone Liedtke     25th March 2019 JSE-listed engineering and construction group Murray & Roberts’ (M&R’s) Cementation Americas, which forms part of the M&R Underground Mining platform, has acquired 100% of Terra Nova Technologies (TNT) for $38-million. The acquisition will be funded from a revolving and term loan credit facility,... 

Gemfields confirms $60m full-year loss 

By: Simone Liedtke     25th March 2019 JSE-listed Gemfields on Monday confirmed that it had posted a $60.4-million net loss for the year ended December 31, 2018, compared with a $45.1-million profit in 2017. As set out in a trading statement published on Friday, the group attributed the loss to impairment charges and fair value loss... 

Gemfields mulls London listing, looks back on challenging 2018 

By: Simone Liedtke     25th March 2019 JSE-listed Gemfields is considering an additional listing on the LSE during this year, without an associated capital raise, in an effort to address the lack of broker research and share trading liquidity. Paying a maiden distribution to its shareholders remains a key ambition for the miner for... 

Gemfields mulls London listing, looks back on challenging 2018
Photo by Creamer Media
Gemfields chairperson Brian Gilbertson

China's Feb coking coal imports from Australia fall 21%

By: Reuters     25th March 2019 China's coking coal imports from Australia slumped 21% in February from a year earlier as traders reported lengthy checks on Australian cargoes at several ports. Australian supplies were at 1.16-million tonnes last month, according to data released by the General Administration of Customs on... 

Australian miners see some impact from two cyclones, clean up begins

By: Reuters     25th March 2019 Mining giants Rio Tinto, BHP Group and Fortescue Metals said their Australian operations had suffered some impact after two cyclones hit the country over the weekend, with clean up starting on Monday in the wake of the storms. Cyclone Veronica has been weakening after battering Australia's... 

Arc Exploration moves to expand copper business

By: Esmarie Iannucci     25th March 2019 Gold and base metals explorer Arc Exploration has moved to acquire privately-held explorer Cyprium Australia, which has an option to earn an 80% interest in the Cue copper project, in Western Australia. Under the terms of the agreement Arc will acquire all of the issued capital of Cyprium in... 

Sandfire partners with White Rock on Alaska project

By: Esmarie Iannucci     25th March 2019 Junior White Rock Minerals has struck a A$30-million earn-in and joint venture (JV) option agreement with fellow-listed Sandfire Resources over its Red Mountain base and precious metals project, in Alaska. Under the terms of the agreement, Sandfire could earn up to a 51% interest in the project... 

New Hope completes Mitsui buy

By: Esmarie Iannucci     25th March 2019 Coal miner New Hope has completed the acquisition of joint venture partner Mitsui’s 10% interest in the Bengalla project, in New South Wales, taking its interest to 80%. New Hope in November of last year struck a A$215-million deal with Mitsui to purchase its 10% interest in the Bengalla JV,... 

Dacian warns on March Q output

By: Esmarie Iannucci     25th March 2019 Gold miner Dacian Gold has warned of lower production during the March quarter, on the back of reduced underground equipment availability. Dacian on Monday said that gold production for the three months to March is expected to reach between 36 000 oz and 38 000 oz, this was compared with the 37... 

T3 reserve increases by 61%

By: Esmarie Iannucci     25th March 2019 ASX- and LSE-listed MOD Resources has reported a 61% increase in the openpit reserve at its T3 copper project, in Botswana. The openpit reserve is now estimated at 34.4-million tonnes, grading 1% copper and 13.2 g/t silver, for 342 700 t of copper and 14.6-million ounces of silver. 

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