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Teck’s diversified business model poised to drive cash flow, profit as commodities rise

By: Henry Lazenby     27th September 2016 Canada’s largest diversified miner Teck Resources is positioned to benefit from rising commodity prices owing to its leverage to stronger steelmaking coal and zinc markets, and benefit from the weaker Canadian dollar. VP of investor relations and strategic analysis Greg Waller told the Deutsche... 

Teck’s diversified business model poised to drive cash flow, profit as commodities rise
Photo by Bloomberg
The zinc, lead and silver smelter of Vancouver-based diversified miner, Teck Cominco, the world's largest zinc producer _ Bloomberg

Mosaic’s radioactive sinkhole problem could mean mine delays

By: Bloomberg     27th September 2016 As the world’s largest producer of phosphate fertiliser, Mosaic is used to digging up parts of Florida to recover the mineral. But lately, one particular hole is causing the company some headaches. A sinkhole 14 m wide has opened up in a pile of mining waste at the company’s New Wales site, in... 

Mosaic’s radioactive sinkhole problem could mean mine delays

In first Canadian foray, Denham enters into $65m partnership with project developer JDS Silver

By: Henry Lazenby     27th September 2016 Private equity firm Denham Capital has agreed to back private project developer JDS Silver by providing $65-million to complete construction and bring into production the Silvertip mine, in Northern British Columbia, the company said Tuesday. At a 30% zinc-equivalent grade, the Silvertip project... 

Renewables not cost competitive until mid-century – Glencore

By: Reuters     27th September 2016 Renewable energy will not be cost competitive with fossil fuels until 2050, Glencore said on Tuesday, much later than energy organisations forecast and supporting the mining and trading giant's case for continued investment in coal. Glencore has said coal is still an investment opportunity,... 

OceanaGold's shares hit on Philippine audit outcome

By: Mariaan Webb     27th September 2016 Shares in Melbourne-headquartered OceanaGold fell 8% on Tuesday before trading was halted, after the Philippine government’s nationwide environmental mine audit recommended the suspension of the company’s flagship Didipio gold and copper mine on the island of Luzon. The environmental check-up,... 

OceanaGold's shares hit on Philippine audit outcome
The Philippines government has recommended the suspension of Australian miner OceanaGold's Didipio mine.

Chile regulator approves $19m environment plan at KGHM copper mine

By: Reuters     27th September 2016 Chile's environmental regulator said on Tuesday it has approved a $19.1-million mitigation plan presented by KGHM's Sierra Gorda copper mine, after it found nine infractions at the operation. In March, the SMA environmental regulator pressed charges against Sierra Gorda, saying the copper mine... 

Mining Commissioner issues final order on Cliffs bid over KWG rail claims

By: Henry Lazenby     Updated 5 hours ago The Mining and Lands Commission of Ontario has made a final order paving the way for an application to the Ontario Ministry of Natural Resources, which was made by Cliffs Natural Resources in early 2012, for the grant of an easement over the claims of Canada Chrome Corporation, to proceed. The... 

Austral restarts Casposo precious metals mine with new resource update

By: Henry Lazenby     Updated 6 hours ago ASX- and newly TSX-V-listed Austral Gold is restarting operations at the Argentina-based Casposo gold/silver project, based on the results of an updated reserve estimate. As at June 30, Vancouver-based Austral reported compliant proven and probable reserves of 972 000 t grading 2.53 g/t gold and... 

Aquila discovers new ore zone at Back Forty

By: Henry Lazenby     Updated 6 hours ago TSX-listed project developer Aquila has made a new discovery of gold and zinc mineralisation near its Back Forty project, in Michigan's Upper Peninsula, the company reported on Tuesday. The Toronto-headquartered company reported the assay results of two discovery holes of mineralisation that... 

Crusader shakes tin to advance projects

By: Esmarie Swanepoel     27th September 2016 Gold developer Crusader Resources has raised A$8.5-million in an oversubscribed placement, allowing the company to accelerate the development of its Juruena gold project, in Brazil, and to complete the bankable feasibility study on the Borborema project. The placement, to institutional and... 

South Africa’s diamond industry could learn from Belgium tax regime – Blom

By: Megan van Wyngaardt     27th September 2016 South Africa needs a fair and logical diamond tax regime that is aligned with international standards, as well as a business environment that encourages local beneficiators to buy and produce quality diamonds. Speaking at the yearly Diamond Indaba in Midrand, World Federation of Diamond Bourses... 

South Africa’s diamond industry could learn from Belgium tax regime – Blom
Photo by Duane Daws
Ernie Blom

Illegal mining out of control – Mine Rescue Services

By: Natasha Odendaal     27th September 2016 A surge in the number of mine rescues and recoveries at abandoned and disused operations is an indication that the illegal mining scourge is starting to spiral out of control, and the recorded incidents are just the tip of the iceberg. The Chamber of Mines and Mine Rescue Services (MRS) on... 

Illegal mining out of control – Mine Rescue Services
Photo by Duane Daws
Mine Rescue Services CEO Christo de Klerk

Gold discovery badly behind replenishment

By: Martin Creamer     27th September 2016 Gold is being discovered at a fraction of the rate needed to replenish reserves. In the last 16 years, the gold-mining industry has failed to replace more than half the ounces mined. 

Gold discovery badly behind replenishment
Photo by Randgold
Randgold graph showing discovery collapse

CoM makes case for mining-affected communities

By: Megan van Wyngaardt     27th September 2016 The Chamber of Mines (CoM) has recommended that a portion of mining royalties be ring-fenced to benefit mining-impacted communities. Presenting at the Human Rights Commission National Investigative Hearings on the underlying socioeconomic challenges of mining-affected communities, it added that... 

Implats refinery workers in South Africa strike over pay

By: Bloomberg     27th September 2016 Members of a union representing more than half the worker’s at Impala Platinum Holdings' refinery in South Africa started a strike Tuesday after talks over pay and benefits broke down. About 500 people who are members of the National Union of Mineworkers didn’t report for duty after five rounds... 

Edenville concludes Rukwa bulk sampling, awaits results

By: Natasha Odendaal     27th September 2016 Aim-listed Edenville Energy has completed its bulk sampling programme at the Rukwa coal-to-power project, in Tanzania, with 20 t of samples being delivered to SGS Laboratories, in Johannesburg, South Africa. While the results from testing are expected in October, the sampling at three different... 

Acacia resolves Bulyanhulu process plant troubles

By: Natasha Odendaal     27th September 2016 LSE-listed Acacia Mining has resumed full operations at the Bulyanhulu process plant, in north-west Tanzania, after resolving technical difficulties following a routine maintenance shutdown, with full-year production guidance remaining unchanged. The London-headquartered group reported... 

Resolute raises A$150m for production growth

By: Esmarie Swanepoel     27th September 2016 Gold miner Resolute Mining would raise A$150-million through a share placement to fund long-life production growth. The ASX-listed company said on Tuesday that it would place a minimum of 76.5-million new shares, priced at A$1.96 a share, to raise the funds. The placement price represented a... 

Vimy starts early works at Mulga Rock

By: Esmarie Swanepoel     27th September 2016 Uranium developer Vimy Resources has received backing from the Western Australian Environmental Protection Authority (EPA) to start preliminary work at its Mulga Rock project. The work involves an upgrade to the existing site access road to allow for heavy equipment to be brought to site, and the... 

What it takes to make a conflict-free smartphone

By: Bloomberg     27th September 2016 On a moonscaped rise in eastern Democratic Republic of Congo, thousands of men and women carve a heavy, off-white mineral away from the hillside with pickaxes, then wash it with shovels in man-made streams and haul it down the hill in 110-pound sacks. They are the sort of independent miners that... 

What it takes to make a conflict-free smartphone

Michelmore steps down as MMG chief

By: Esmarie Swanepoel     27th September 2016 Metals miner MMG has launched a succession process after CEO and executive director Andrew Michelmore announces his intention to retire during 2017. The succession process will consider both internal and external candidates. 

Michelmore steps down as MMG chief
Photo by Reuters
Andrew Michelmore

Kibaran eyes downstream processing in Tanzania

By: Esmarie Swanepoel     27th September 2016 ASX-listed Kibaran Resources has started a feasibility study on the downstream processing of its graphite product from its Epanko project, in Tanzania. The feasibility study will include the production of battery-grade graphite for the lithium-ion battery market. 

Iron Mountain buys into bauxite

By: Esmarie Swanepoel     27th September 2016 Junior Iron Mountain Mining has acquired a 50% interest in Au Capital Mining, which owns two prospecting licences in the Solomon Islands. Iron Mountain said on Tuesday that it had paid a nonrefundable option fee of A$100 000, granting the company a long option period and enabling it to complete... 

Iron Mountain buys into bauxite

Kinross sells 4.7% stake in Lundin

By: Henry Lazenby     27th September 2016 Gold producer Kinross Gold has agreed to sell a 4.7% stake in Lundin Mining to GMP Securities, amounting to 5.5-million common shares at C$5.60 apiece. Kinross on Monday said the deal was part of its portfolio management strategy and would generate C$30.8-million in gross proceeds. 

Yamana applies to annul second arbiter report in Auriemma proceedings

By: Henry Lazenby     27th September 2016 Yamana Gold has applied to annul a second arbiter report regarding the award to Dr Ricardo Auriemma in litigation dating back to 2003. In May 2013, the Argentinean Commercial Court of Appeals ruled in favour of Auriemma on the breach-of-agreement case against Northern Orion Resources (GNOR),... 

Teck submits regulatory application for $5bn Quebrada Blanca Phase 2

By: Henry Lazenby     27th September 2016 Canadian diversified miner Teck Resources is moving ahead with the $4.5-billion to $5-billion second-phase development of its Quebrada Blanca (QB) copper mine, in Northern Chile. The company has submitted the social- and environmental-impact assessment for the project to the Tarapacá... 

Brazil's Samarco misses bond payment, has 30-day remedy period

By: Reuters     26th September 2016 Samarco Mineração, the Brazilian iron-ore mining joint venture that suspended operations in November following a dam disaster, missed an interest payment on a $500-million bond that was due on Monday, trustee Bank of New York Mellon said. As a result, Samarco will have 30 days to make the... 

As need to reach foreign markets intensifies, Canadian oil industry isolated from Treaty Alliance threats

By: Henry Lazenby     26th September 2016 Global demand for energy is expected to rise some 32% by 2040 and more than a quarter of that increase will be met by oil, raising the stakes for the Canadian oil industry to diversify its markets. According to the Canadian Association of Petroleum Producers (CAPP), the lion’s share of demand... 

As need to reach foreign markets intensifies, Canadian oil industry isolated from Treaty Alliance threats

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

By: Reuters     26th September 2016 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 achieves further diamond sale successes in Q2

By: Henry Lazenby     26th September 2016 South Africa-focused project developer Diamcor Mining sold 8 274.47 ct of diamonds in the second quarter ended September 30. Two tenders were held during the quarter, raising proceeds of $1.17-million or $141.03/ct. 

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

By: Megan van Wyngaardt     26th September 2016 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... 

Rio Tinto launches debt reduction programme

By: Reuters     26th September 2016 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... 

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

By: Martin Creamer     26th September 2016 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

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

By: Mia Breytenbach     26th September 2016 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... 

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 for its clients. Video and editing: Darlene Creamer 26.9.2016

Gemfields posts higher FY profits as production shines

By: Natasha Odendaal     26th September 2016 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      26th September 2016 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... 

Goldplat swings to FY profit, pursues potential South American opportunities

By: Creamer Media Reporter      26th September 2016 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... 

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

By: Reuters     26th September 2016 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

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