http://www.miningweekly.com
R/€ = 15.77 Change: -0.08
R/$ = 13.97 Change: -0.08
Au 1326.00 $/oz Change: -1.37
Pt 1084.50 $/oz Change: 5.50
 
Close

Email me free daily news

Email address

Tightening supply should bode well for commodity prices – Glencore

By: Martin Creamer     24th August 2016 Diversified mining and marketing company Glencore, now with a significantly reduced debt profile, is producing its key commodities at exceptionally low operational cost, exemplified by the unit cost of the zinc it produced in the six months to June 30 coming in at the negative unit cost figure of... 

Tightening supply should bode well for commodity prices – Glencore
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Gold price could appreciate once growth in Asia recovers – investment firm

By: Samantha Herbst     24th August 2016 Asia’s seemingly imminent economic recovery could spark an increase in gold prices, according to investment management firm Allan Gray portfolio manager Sandy McGregor, who connects the gold price decline, which started in 2012, with Asia’s economic woes and its reputation as the world’s biggest... 

Gold price could appreciate once growth in Asia recovers – investment firm

Think zinc: miners bet big on revival in key base metal market

By: Reuters     24th August 2016 Resource companies are racing to dig zinc mines, betting that markets for the metal used to rust-proof steel and protect noses from sunburn have finally turned after a decade in the doldrums. A supply glut is evaporating as big zinc mines run dry, commodity analysts say, helping drive up prices... 

Paladin narrows FY net loss, to lower output amid low price environment

By: Henry Lazenby     25th August 2016 Falling uranium prices are forcing dual-listed uranium miner Paladin Energy to cut back production even further. The TSX- and ASX-listed miner on Wednesday announced that it was working on a proposed plan to reduce mining and mill throughput at the Langer Heinrich Mine (LHM), in Namibia, with... 

Paladin narrows FY net loss, to lower output amid low price environment

Fission finds more uranium to the west of PLS’s Triple R deposit

By: Henry Lazenby     25th August 2016 Explorer Fission Uranium has found uranium pathfinder elements and strong radioactivity in two new drill holes completed to the west of the western-most deposit at the Patterson Lake South (PLS) project, in Canada’s Athabasca basin. The Kelowna, British Columbia-based junior on Wednesday... 

Copper poised to be only metal loser this year as stocks pile up

By: Bloomberg     24th August 2016 Copper’s on the verge of becoming the only major metal to post a loss this year as the highest stockpiles in almost seven months suggest the market is amply supplied. Inventories of copper, used in everything from wiring to automobiles to iPhones, rose 4.7% to 240 075 metric tons, according to... 

Samarco to sound out bondholders for debt plan, sources say

By: Reuters     25th August 2016 Samarco Mineração, the Brazilian iron-ore joint venture that stopped operations after a dam burst last year, plans to seek bondholder consent to change terms on $2.2-billion of securities or pursue an exchange offer, two people with knowledge of the situation said on Wednesday. According to one... 

Harmony Gold turns predator on deal hunt to fill output gap

By: Bloomberg     24th August 2016 Harmony Gold Mining is willing to use debt and equity to buy a profitable mine that will offset falling production in South Africa and help fund a major new project in Papua New Guinea, CEO Peter Steenkamp said. With the company likely to lose about 40% of its current production over the next six... 

Harmony Gold turns predator on deal hunt to fill output gap
Harmony Gold CEO Peter Steenkamp

Lucara to invest $30m on more XRT diamond recovery units

By: Creamer Media Reporter      24th August 2016 Vancouver-based Lucara Diamond Corp will install four more X-ray transmission (XRT) diamond recovery units at its Karowe mine, in Botswana, to process finer-size fractions. The new units, along with associated conveying and screening infrastructure, will target the recovery of diamonds in the 4... 

Lucara to invest $30m on more XRT diamond recovery units

Resources Watch 

     Updated 19 minutes ago This week: Gold Fields lifts full-year production guidance as South Deep, Australian operations perform in first half; Harmony back in the black, eyes acquisitions; And, DRA enjoying rise in gold project share, eyeing more gold opportunities 

Resources Watch

Syrah awards construction contract for Mozambique project

By: Creamer Media Reporter      Updated 30 minutes ago Engineering and construction company Kentz Engineers and Contractors has won the structural, mechanical and piping construction contract at Australian firm Syrah Resources’ Balama graphite project, in Mozambique. Kentz, which is a member of the SNC-Lavalin Group, has successfully operated in... 

Strike at world’s biggest coal miner seen blunted by Indian glut

By: Bloomberg     Updated 40 minutes ago India’s ample coal stockpiles may blunt the power of unions planning a strike at Coal India, the world’s biggest miner of the fuel. Labor groups including All India Coal Workers’ Federation are demanding the company start early wage talks and begin recruiting to fill vacancies, as well as calling... 

Mineral sands miner Iluka sinks to half-year loss

By: Mariaan Webb     Updated 52 minutes ago Mineral sands miner Iluka Resources plunged into a net loss of $20.9-milllion in the first half of 2016, compared with a profit of $20.4-million a year earlier, owing to lower revenue growth. Mineral sands revenue dipped from $349.6-million in the six months ended June 30, 2015, to $338.4-million... 

Mineral sands miner Iluka sinks to half-year loss
Iluka MD David Robb

DoL to host workshop on explosives regulations amendments

By: Anine Kilian     Updated 1 hour 14 minutes ago The Department of Labour (DoL), in partnership with the University of South Africa (Unisa), will, on August 29, host a day-long workshop to sensitise explosives industry stakeholders to explosives regulations amendments. DoL deputy director of explosives Rudzani Ramabulana says the regulations... 

Australian police probe Sundance over Congo corruption allegations

By: Reuters     Updated 1 hour 30 minutes ago Sundance Resources said on Thursday Australian police are investigating allegations that the company may have bribed politicians in Congo Republic to win permits to pursue a major iron-ore project. Sundance said the allegations dated back to meetings held between 2006 and 2008, as reported by... 

Middle Island sets timetable for restarting WA gold mine

By: Megan van Wyngaardt     Updated 1 hour 36 minutes ago Australian gold miner Middle Island is set to restart operations at the Sandstone project, in Western Australia, by September 2017. The company acquired the 480 000 oz project from Black Oak Minerals in May for A$2.5-million. The project includes a 600 000 t/y carbon-in-pulp processing plant,... 

Newcrest, Harmony JV apply for Wafi-Golpu special mining lease

By: Megan van Wyngaardt     Updated 1 hour 52 minutes ago The Wafi-Golpu joint venture (WGJV) on Thursday submitted an application for a special mining lease (SML) for its gold/copper/silver project in Papua New Guinea. The WGJV is one of three unincorporated JVs between subsidiaries of Australia’s Newcrest (50%) and South Africa’s Harmony Gold (50%),... 

Iron-ore at risk as China veteran warns steel output to drop

By: Bloomberg     Updated 1 hour 54 minutes ago Steel production in China, the world’s biggest supplier, will probably contract this year and shrink further in 2017 as local demand slows, hurting the outlook for iron-ore, according to Li Xinchuang, a vicechairperson at the China Iron & Steel Association. “There will be significant declines in... 

Neighbours Pilbara, Altura formalise cooperation agreement

By: Megan van Wyngaardt     Updated 2 hours 1 minute ago Australian lithium developer Pilbara Minerals has signed two agreements with ASX-listed Altura Mining, formalising a framework for ongoing cooperation in the development of their adjoining lithium/tantalum deposits. This access agreement will assist Pilbara in its strategy to fast-track the... 

Kibo, Sepco ink new contractual deal on Mbeya

By: Natasha Odendaal     Updated 2 hours 18 minutes ago AltX- and Aim-listed Kibo Mining has signed a new, redefined agreement with China-based contractor Sepco III, which can now earn the right to become the sole bidder for the engineering, procurement and construction (EPC) contract to build the power plant component of Kibo’s Mbeya coal-to-power... 

DRA upbeat on gold project outlook 

     Updated 2 hours 56 minutes ago Mining project company DRA has shared its excitement about new gold project opportunities opening up in South Africa, as well as Central and West Africa. Mining Weekly editor Martin Creamer joins senior deputy editor Tracy Hancock in studio to shed light on the company’s enthusiasm. 

DRA upbeat on gold project outlook

Investors keen to spend money but Australia should give them reason to invest – QRC

     Updated 3 hours ago The green shoots that are sprouting in the resources sector should signal a green light for governments to weed out the red tape and grow investment opportunities, says Queensland Resources Council CEO Michael Roche. Speaking at the 2016 Mining Convention in Brisbane, on Thursday, he said that... 

Investors keen to spend money but Australia should give them reason to invest – QRC

Free-falling Mongolia won’t be saved by commodity revival

By: Bloomberg     Updated 3 hours ago The commodity super-cycle that peaked in 2011 powered Mongolia to world-beating growth. Then came the bust and China’s recent economic slowdown that’s pushed the land of Genghis Khan into an unprecedented economic crisis this summer. Yet even though the commodity market finally has a pulse again... 

Sibanye Gold declares R785m dividend

By: Martin Creamer     Updated 3 hours ago Johannesburg- and New York-listed precious metals mining company Sibanye Gold on Thursday reported strong financial results for the six months ended June 30, driven mainly by a higher rand gold price and underpinned by solid production from both the gold and platinum divisions. Sibanye's... 

Sibanye Gold declares R785m dividend

Section 52 of MPRDA a ticking time bomb in terms of labour, say lawyers

By: Megan van Wyngaardt     24th August 2016 Section 52 of the Mineral and Petroleum Resources Development Act (MPRDA), which states that the holder of a mining right is required to give notice to the Mineral Resources Minister “in the prescribed manner” in terms of downscaling of operations, is a ticking time bomb. Speaking during a... 

Exxaro’s sale of Inyanda given green light

By: Natasha Odendaal     24th August 2016 The Competition Commission on Wednesday gave an unconditional green light for the buyout of diversified miner Exxaro Coal’s Inyanda colliery business, in Mpumalanga, by joint venture (JV) partners Lurco Group and Burgh Group. The JV, Inyanda Mining Holdings, also titled Main Street, will take... 

Liquidation order against Platfields set aside

     24th August 2016 The High Court of South Africa has set aside a provisional liquidation order against JSE-listed Platfields. The company on Wednesday said it, however, remained in settlement negotiations with the company that had implemented the liquidation proceedings against it. 

Kenmare sees H1 revenue decrease

By: Anine Kilian     24th August 2016 LSE-listed Kenmare Resources’ half-year revenue fell 24% to $56.2-million for the six months ended June 30. In a statement released on Wednesday, the company attributed its revenue decrease to lower average heavy minerals prices, owing to pricing and subsequent contracts occurring at the bottom... 

Nersa committee recommends that RCA judgment be appealed 

By: Terence Creamer     24th August 2016 The National Energy Regulator of South Africa’s (Nersa’s) electricity subcommittee will recommend that the Energy Regulator, which meets on Thursday, appeal the recent High Court judgment setting aside its Regulatory Clearing Account (RCA) determination, which enabled Eskom to increase its tariff... 

Nersa committee recommends that RCA judgment be appealed
Photo by Duane Daws
Nersa’s Thembani Bukula

Capital raising helps Sheffield maintain momentum at Thunderbird

By: Creamer Media Reporter      24th August 2016 Mineral sands developer Sheffield Resources has received commitments to raise up to $17.1-million, through a placement of 23.9-million shares at 52c a share, to complete a bankable feasibility study (BFS) at its Thunderbird project, in Western Australia. The funds raised will also be used for... 

Australian silver outlook strong as global supply falls – Investigator Resources

     24th August 2016 The outlook for Australian silver development and production has risen to its best in years with the owner of one of the country’s highest grade discoveries pointing to a 35% price increase in the commodity in just the past 12 months. Addressing a mining forum in Brisbane on Wednesday,... 

Panoramic hikes Savannah North resource

By: Mariaan Webb     24th August 2016 ASX-listed base metals company Panoramic Resources has upgraded the Savannah North resource to 175 100 t of nickel, 74 400 t of copper and 15 300 t of cobalt, representing a 60% increase in the contained nickel on the maiden resource estimate. The combined resource at the Savannah project, in... 

Buxton and Independence Group form Fraser Range JV

By: Mariaan Webb     24th August 2016 ASX-listed junior Buxton Resources has granted fellow listed Independence Group (IGO) the sole and exclusive right to acquire a 90% interest in the Zanthus and Widowmaker tenements, in the Fraser Range, Western Australia, for $1.5-million in cash. Under a joint venture (JV) announced on... 

Edenville appoints new chair

By: Creamer Media Reporter      24th August 2016 Aim-listed Edenville Energy, which is developing the Rukwa coal-to-power project, in Tanzania, has appointed Dr Jeff Malaihollo nonexecutive chairperson, effective September 1. He succeeds former chairperson Sally Schofield who resigned in April, citing personal reasons. 

Moody’s upgrades Fortescue’s credit ratings

     24th August 2016 Perth-based Fortescue Metals’ efforts to reduce its debt have won it an improved credit rating from ratings agency Moody’s, which this week upgraded the iron-ore miner’s corporate family rating to Ba2 from Ba3, while the senior unsecured and senior secured ratings were upgraded to B1 and Ba1 from... 

Evolution to pay A$880m for stake in Glencore’s Ernest Henry

By: Mariaan Webb     24th August 2016 In line with its strategy to build a globally relevant, midtier Australian gold producer, Evolution Mining has moved to buy an economic stake in a large-scale, long-life copper/gold mine near Cloncurry, Queensland, for A$880-million. Evolution will buy a 30% economic stake in diversified miner... 

Evolution to pay A$880m for stake in Glencore’s Ernest Henry
Evolution Mining executive chairperson Jake Klein

Trudeau faces split Aboriginal groups in Kinder Morgan ruling 

By: Bloomberg     24th August 2016 In the rolling country of central British Columbia, Michael LeBourdais’s Whispering Pines Indian Band is looking forward to a cash injection from a new pipeline proposed by Kinder Morgan Energy Partners LP. He’ll be seeking compensation for his band if it doesn’t go through. Meanwhile, 400 km... 

Authorities close illegal chrome mine in Limpopo

By: African News Agency      24th August 2016 Police and mining resources authorities have closed down a lucrative illegal chrome mine near Burgersfort in Limpopo on Tuesday. Authorities claimed that a group of miners who claimed to be mining on the shoulder of Anglo Platinum’s Bokoni mine ran from the plant when police and Mineral Resources... 

Popular Articles This Week

more

Other Popular Articles


Company Post

more

Services News

Consulting Engineers

Contract Mining

Crushing and Screening

Drilling and Tunnelling

Earthmoving

Energy Services

Explosives

Furnaces and Kilns

Materials Handling

Opencast/Quarries

Pumps

Valves

Latest Videos

Resources Watch

DRA upbeat on gold project outlook

Entrepreneurs pursuing gold dump projects, ‘pennyweight’ opportunities at depth

South Africa won’t change IPP course ‘midstream’

Resources Watch

Gold Fields lifts FY production guidance as South Deep, Aus operations perform in H1

AngloGold’s free cash trebles, slashes net debt

Harmony back in the black, eyes acquisitions

more

Press Office

more

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Close