R/€ = 15.44 Change: -0.17
R/$ = 13.72 Change: -0.10
Au 1337.84 $/oz Change: -0.99
Pt 1039.50 $/oz Change: -15.00

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Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’

By: Martin Creamer     Updated 4 hours ago Africa needs investments coupled with aggressive growth and if correctly managed, will be the world’s "next China", says Randgold Resources CEO Dr Mark Bristow, who has developed half a dozen highly successful gold mines on the continent besides traversing its length and breadth on his motor... 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’
Randgold CEO Dr Mark Bristow (centre) with host country management at the Loulo gold mine

We were forced to work for Western-run mine, say migrants who fled Eritrea

By: Reuters     Updated 6 hours ago Bemnet Negash never got to say a proper goodbye to his family. In February 2006, government officials arrived at his school in the highlands of Eritrea and put him and his classmates on a bus to a military training camp. He was 20 years old, and still at school because a childhood illness had... 

We were forced to work for Western-run mine, say migrants who fled Eritrea

Rio Tinto launches debt reduction programme

By: Reuters     Updated 4 hours ago Major minor Rio Tinto on Monday announced a bond buyback plan for up to $3-billion, saying it was taking advantage of its healthy cash situation to further reduce debt. Under the plan Rio Tinto has issued a redemption notice for approximately $1.5-billion of its 2017 and 2018 US... 

Goldplat swings to FY profit, pursues potential South American opportunities

By: Creamer Media Reporter      Updated 6 hours ago With its recovery operations now “back on track and profitable”, Aim-listed Goldplat is shifting its attention to returning its Kilimapesa mine, in Kenya, to profitability during the 2017 financial year, while also looking to new opportunities in South America. The company’s operations produced... 

North American Aboriginals, First Nations join hands to thwart domestic oil development 

By: Henry Lazenby     23rd September 2016 Canadian and Northern US Aboriginal groups and First Nations have, this week, adopted the Treaty Alliance Against Tar Sands Expansion, seeking to officially prohibit and collectively challenge and resist oil sands industry expansion in Alberta. This extends to preventing the transport of such... 

North American Aboriginals, First Nations join hands to thwart domestic oil development

Freeport investors in DRC limbo as Tenke mine sale drags on

By: Bloomberg     24th September 2016 Freeport-McMoran investors have been learning the difficulties of doing business in the Democratic Republic of Congo, where even trying to leave can be an exercise in frustration. On May 9, the world’s largest publicly traded copper producer announced it would sell its 56% stake in the Tenke... 

Gecamines says Lundin withdrawal from Congo would be problematic

By: Bloomberg     23rd September 2016 Gecamines, the Democratic Republic of Congo’s State-owned miner, warned that any decision by Lundin Mining to withdraw from the Tenke Fungurume copper mine could scupper Freeport McMoRan Inc.’s proposed sale of its stake in the project. By exiting at the same time as Freeport and transferring... 

Ivanhoe announces more high-grade copper results from Kakula discovery

By: Anine Kilian     23rd September 2016 The 2016 drilling campaign at Ivanhoe Mines’ Kakula discovery, in the Democratic Republic of Congo, is continuing to demonstrate that it is substantially richer, thicker and more consistent than other mineralisation at the Kamoa project. The Kamoa project is a joint venture between Ivanhoe Mines... 

MacLean Engineering to supply battery-powered fleet for Goldcorp’s diesel-free Borden mine

By: Creamer Media Reporter      23rd September 2016 Goldcorp is planning to build what is expected to be the world's first diesel-free hard rock gold mine at its Borden project, near Chapleau, Ontario. The company has appointed Collingwood, Ontario-based MacLean Engineering to provide a fleet of battery-powered mobile underground mining equipment... 

Almonty drops planned offer for ATC Alloys on Vietnam JV woes

By: Mariaan Webb     23rd September 2016 Canada-based Almonty Industries has dropped its planned offmarket takeover offer for ATC Alloys (ATA), after the Australia-listed company’s ferrotungsten joint venture (JV) in Vietnam ran into trouble. ATA has moved to remove its 40% partner Guangyu Chen as a director of the JV company – Hong... 

Greenland Minerals teams up with Shenghe on Kvanefjeld development

By: Mariaan Webb     23rd September 2016 Shanghai-listed rare earths company Shenghe Resources will acquire a 12.5% interest in Greenland Minerals and Energy (GMEL) and enter into a strategic working relationship with the Australia-listed company to advance the Kvanefjeld project. Shenghe downstream processing subsidiary Leshan Shenge... 

Iron giants to add 200Mt of supplies through 2020

By: Bloomberg     26th September 2016 The world’s two largest iron-ore exporters Australia and Brazil will each add about 100-million metric tons of supply through the end of the decade, boosting a global glut and hurting prices in a slump that will then force marginal miners to cut output, according to Citigroup. Shipments from... 

Iron giants to add 200Mt of supplies through 2020

Skeena completes acquisition of Mount Rainey Silver

By: Henry Lazenby     24th September 2016 Junior explorer Skeena Resources' acquisition of Mount Rainey Silver has closed, giving it access to mineral claims covering the past-producing, underground Prosperity–Porter Idaho–Silverado silver property, in north-west British Columbia’s ‘Golden Triangle’. Mount Rainey Silver's primary asset... 

Mining Weekly iPhone and Android Apps available for free download 

     23rd September 2016 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

Brazil's CSN, CBSteel in talks over ore unit stake – sources

By: Reuters     Updated 1 hour 3 minutes ago Cia Siderúrgica Nacional is considering selling part of its stake in Congonhas Minérios, Brazil's No 2 iron-ore producer, to China Brazil Xinnenghuan International Investment, two people familiar with the deal said on Monday. According to the people, the Chinese mill known as CBSteel is... 

Diamcor lifts fiscal Q2 tender volumes 171%

By: Henry Lazenby     Updated 1 hour 5 minutes ago South Africa-focused diamond project developer Diamcor Mining has increased the carats delivered to its two tenders held in the current fiscal second quarter ending September 30 by 171% to 8 274.47 ct. The Vancouver-based miner reported 3 626.19 ct sold at its first tender for the quarter held in... 

Only a few steps needed for South Africa to reach beneficiation goals, says De Beers exec

By: Megan van Wyngaardt     Updated 3 hours ago South Africa can reach the goals set out in Vision 2026, which aims to promote the diamond beneficiation industry in South Africa, by implementing a “couple of simple steps”, De Beers senior sightholder sales VP Mpumi Zikalala said on Monday. Addressing delegates during a panel discussion at the... 

Fraser Alexander’s structured funding offering to revolutionise mining industry – CEO

By: Mia Breytenbach     Updated 4 hours ago Mining Services and construction company Fraser Alexander has, as part of repositioning its business value proposition, introduced a structured funding offering to its Integrated Mining Service (IMS) for its clients. CEO Velile Nhlapo believes this value proposition will “revolutionise the mining... 

Fraser Alexander’s structured funding offering to revolutionise mining industry – CEO
Fraser Alexander CEO Velile Nhlapo

Gemfields posts higher FY profits as production shines

By: Natasha Odendaal     Updated 5 hours ago Significant operational progress at Aim-listed Gemfields’ 75%-owned mining assets in Zambia and Mozambique have translated into strong financial output in the year ended June 30. The gemstone miner on Monday posted a profit after tax of $23.5-million for the year under review, up 91% on the... 

PricewaterhouseCoopers gets buyer for liquidated Botswana mine

By: African News Agency      Updated 5 hours ago PricewaterhouseCoopers (PwC) says it has finally identified a buyer for African Copper’s Mowana mine in Botswana, almost a year after it was liquidated over a P47-million debt. The closure of the mine, which is located in the Dukwi area of northern Botswana, led to the retrenchment of more than... 

At 50, Botswana discovers diamonds are not forever

By: Reuters     Updated 7 hours ago When David Magang opened Botswana's first domestic law firm shortly after independence in 1966, he and his country were starting from scratch. Since then, both he and the former British protectorate, which celebrates its fiftieth birthday this week, have travelled a huge distance based largely on... 

Carbine delays Mt Morgan DFS to December quarter

By: Creamer Media Reporter      26th September 2016 ASX-listed carbine Resources has extended the delivery of the definitive feasibility study for its Mount Morgan project, in Queensland, to the December 2016 quarter to allow for additional time to assess the possible relocation of the processing plant. Relocating the plant from its original... 

State Diamond Trader launches enterprise development programme to support entrepreneurs

By: Megan van Wyngaardt     26th September 2016 The State Diamond Trader (SDT) on Monday launched an enterprise development programme to assist entrepreneurs in the diamond industry. Launched during the second South African Diamond Indaba, in Midrand, SDT chairperson Mervyn Carstens said the initiative would develop young people through a... 

State Diamond Trader launches enterprise development programme to support entrepreneurs
Photo by Duane Daws
SDT chairperson Mervyn Carstens

Chinalco mining surges by record after parent offers buyout

By: Bloomberg     26th September 2016 Chinalco Mining Corporation International advanced the most on record after owner Aluminum Corporation of China, or Chinalco, offered a premium of about one third to take the Hong Kong-listed unit private. Shares in CMC, which mines copper in Peru, remained below the takeout price. CMC jumped as... 

Angola's Lulo mine delivers its fifth 100-ct-plus diamond for 2016

By: Mariaan Webb     26th September 2016 The Lulo mine, which Australian miner Lucapa owns in conjunction with Angola’s State-owned miner Endiama and Rosas & Petalas, has delivered its fifth diamond weighing more than 100 ct for the year, this time producing a 172.67 ct diamond. The diamond was recovered from ongoing alluvial mining... 

DFS confirms Pilgangoora as ‘significant opportunity’ – Altura

By: Mariaan Webb     26th September 2016 The Pilgangoora lithium project in the west Pilbara region of Western Australia is a “significant mining opportunity” and is likely to be the next producing Australian lithium mine, developer Altura Mining said on Monday. Announcing the “strong outcomes” of the definitive feasibility study (DFS)... 

NUM backs Ramaphosa to succeed Zuma as ANC leader

By: Reuters     26th September 2016 A powerful South Africa mining union on Monday backed Deputy President Cyril Ramaphosa to succeed President Jacob Zuma as the next leader of the ruling African National Congress (ANC). Zuma is expected to stand down as ANC president at a party conference late next year, ahead of national... 

Govt, industry must join hands to restart South Africa’s diamond beneficiation industry

By: Megan van Wyngaardt     26th September 2016 While government is aiming to re-establish the local diamond beneficiation industry by 2026, Mineral Resources Deputy Minister Godfrey Oliphant believes this can be achieved much earlier. The cutting and polishing industry suffered a major blow last year, when the last, biggest diamond cutting... 

Govt, industry must join hands to restart South Africa’s diamond beneficiation industry
Photo by Duane Daws
Mineral Resources Deputy Minister Godfrey Oliphant

European Lithium plans ‘aggressive development’ of lithium project – Sage

By: Mariaan Webb     26th September 2016 Australia-based European Lithium has appointed a consultant for metallurgical test work at its Wolfsberg project, aimed at accelerating the development of the lithium project in Austria. The Tony Sage-chaired company, which was formerly known as Paynes Find Gold and last week relisted as... 

Ferrochrome price in sharp rise

By: Martin Creamer     26th September 2016 The European benchmark ferrochrome price for the fourth quarter of 2016 has been settled at 110c a pound, 12.2% up on the 98c-a-pound price of the third quarter. Johannesburg Stock Exchange-listed Merafe Resources said last month that it expected to benefit from renewed positive ferrochrome... 

Ferrochrome price in sharp rise
Photo by Duane Daws
Merafe CEO Zanele Matlala

Former Minister Ian Macfarlane to head up QRC

By: Mariaan Webb     26th September 2016 Former federal Resources Minister Ian Macfarlane has been confirmed the new CEO of the Queensland Resources Council (QRC) – news that industry bodies welcomed and the Greens party has reservations about. He will succeed Michael Roche and will take up his new role in November. 

Former Minister Ian Macfarlane to head up QRC
Former federal Minister Ian Macfarlane

BHP faces rating risk as easing gloom helps rivals’ outlooks

By: Bloomberg     26th September 2016 BHP Billiton faces a battle to hold on to its credit score even as lower-rated mining rivals including Rio Tinto have seen their debt outlooks boosted amid the rebound in resource prices. Credit metrics for the world’s biggest miner will be below limits for existing ratings in the current fiscal... 

BHP faces rating risk as easing gloom helps rivals’ outlooks

RioZim chooses Chinese group to design $2.1bn power plant

By: Bloomberg     26th September 2016 RioZim chose a State-owned Chinese company to design a $2.1-billion power plant it plans to build in Zimbabwe, which faces frequent blackouts, and is lobbying South Africa’s electricity utility to buy from the facility to help attract investors. State Nuclear Electric Power Planning Design and... 

Hearings into mining community problems resume

By: News24Wire      26th September 2016 The South African Human Rights Commission (SAHRC) hearings into the socioeconomic conditions in mining communities are expected to resume in Johannesburg on Monday. "Significant levels of poverty, inequality and poor service delivery persist in mining-affected communities," SAHRC spokesperson... 

BMR secures finance to advance Kabwe

By: Megan van Wyngaardt     23rd September 2016 Zambia-focused mineral processing business, BMR Group has entered into a $5.2-million project construction and trade finance facility with African Compass International (ACI), a private South African group engaged in mining, energy and agribusiness. Through the facility, Aim-listed BMR and its... 

Armadale starts RC drilling at Tanzania graphite project

By: Anine Kilian     23rd September 2016 Aim-listed Armadale Capital has started reverse circulation (RC) drilling at its high-grade Mahenge Liandu graphite project in Tanzania. The company reported on Friday that RC drilling had started over a 2 km strike length within the project area. 

Barberton tailings plant shoots lights out with cheap, upped gold 

By: Martin Creamer     23rd September 2016 In the 12 months to June 30, gold was produced by the Barberton Tailings Retreatment Plant (BTRP) of Pan African Resources at the exceptionally low all-in cost of $332/oz. While Barberton Mines as a whole had a good financial year underground and on surface, it was the on-surface BTRP that shot... 

Blurb: Pan African CEO Cobus Loots talks to Mining Weekly Online’s Martin Creamer on Barberton gold. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Namibia's fiscal deficit to narrow on rising mining production, spending cutbacks – BMI

By: Anine Kilian     23rd September 2016 Rising mining production and cutbacks on nonessential spending will see Namibia's fiscal deficit narrow in the coming months, says BMI Research, which is part of Fitch Group. BMI points out in a new report that Namibia's fiscal balance will begin to narrow over 2017, after widening substantially... 

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