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Barrick's Thornton puts Newmont in check in gold takeover game

By: Mariaan Webb     22nd February 2019 John Thornton, an ex-investment banker at the center of a wave of consolidation in the gold space, has just put his largest rival on the defensive. Thornton is executive chairman at Barrick Gold Corp, the world’s second-largest gold producer. On Friday, Barrick confirmed it is considering... 

Barrick's Thornton puts Newmont in check in gold takeover game
John Thornton

Barrick confirms it has studied offer for Newmont

By: Bloomberg     22nd February 2019 Barrick Gold, the world’s second-largest gold producer, confirmed it has considered a bid for Newmont Mining Corp. as the Canadian mining giant looks for ways to boost production. Barrick has reviewed the opportunity to merge with Newmont in an “all-share nil premium transaction,” but no... 

Barrick confirms it has studied offer for Newmont
Barrick Gold CEO Mark Bristow

EY says Canadian miners can be more optimistic about 2019

By: Mariaan Webb     22nd February 2019 The Canadian mining sector continued to face challenges in the final quarter of 2018, as a Chinese economic slowdown weighed on commodity prices, but advisory firm EY says there is reason to be optimistic for 2019. The EY Canadian Mining Eye index, which tracks the Canadian mining sector... 

EY says Canadian miners can be more optimistic about 2019

Bill C-69 threatens natural resources investments, institute warns

By: Mariaan Webb     22nd February 2019 Bill C-69 – the legislation the Canadian government introduced last year to overhaul federal environmental assessments for major projects – threatens to further depress investment in the “already depressed” natural resources sector, research institute CD Howe has warned. In a new report, ‘A... 

Bill C-69 threatens natural resources investments, institute warns

Eldorado Gold aims for 500 000 oz next year

By: Mariaan Webb     22nd February 2019 Canada-headquartered Eldorado Gold is well positioned to grow its yearly production to more than half-a-million ounces next year, supported by the restart of mining and heap leaching at Kisladag and continuing the momentum of Lamaque. The company grew its production to 349 147 oz of gold in... 

Eldorado Gold aims for 500 000 oz next year
The Lamaque mill, in Canada.

Lucara records strong 2018 operational performance at Karowe mine

By: Tasneem Bulbulia     22nd February 2019 Lucara Diamonds’ Karowe mine, in Botswana, achieved a strong operational performance in 2018, meeting or exceeding guidance in all areas, the company said on Thursday. Tonnes mined for the year ended December 31, 2018, reached 18.1-million, in line with guidance of 15.5-million to 18.7-million... 

Kirkland could hit 1Moz as early as this year

By: Esmarie Iannucci     22nd February 2019 Dual-listed gold miner Kirkland Lake has revised its 2019 production guidance to between 920 000 oz and one-million ounces, as the Fosterville operation, in Victoria, continues to outperform. The new guidance compared with the previous full-year consolidated guidance of between 740 000 oz and... 

Orocobre profits soar in H1

By: Esmarie Iannucci     22nd February 2019 ASX- and TSX-listed lithium miner Orocobre has reported a net profit after tax of $24-million for the six months ending December, compared with a net profit of $8.1-million in the previous corresponding period, as lithium production from the Olaroz facility, in Argentina, continues to improve.... 

Crusader MD and chair step down from board as Copulos returns

By: Mariaan Webb     22nd February 2019 ASX- and Aim-listed Crusader Resources announced on Friday that MD Marcus Engelbrecht and chairperson Andrew Vickerman would step down from the board and that former chairperson Stephen Copulos would return as director. The resignation of Engelbrecht and Vickerman, who succeeded Copulos when the... 

Canadian mining companies under siege in proxy contests – law firm

By: Mariaan Webb     22nd February 2019 The number of proxy contests in Canada reached a four-year high in 2018, jumping to 13, including ten board-related contests, seven of which were in the mining or oil and gas sectors, according to international law firm Fasken. The seven mining-related board contests include Detour Gold... 

Canadian mining companies under siege in proxy contests – law firm

Brazil regulator suspends operations at two Vale mine complexes

By: Reuters     21st February 2019 Brazil's mining regulator has ordered Vale SA to suspend activity at its Fabrica and Vargem Grande complexes, the iron ore miner said late on Wednesday, as authorities crack down after last month's fatal dam break. In a statement, Vale said the ANM mining regulator ordered the suspension in... 

Productivity improvements, higher prices lift Anglo American’s FY18 Ebitda to $9.2bn 

By: Marleny Arnoldi     21st February 2019 Continued productivity improvements in underlying operations and better-than-expected prices have contributed to global diversified miner Anglo American’s 4% year-on-year increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to $9.2-billion for 2018. CE Mark... 

Productivity improvements, higher prices lift Anglo American’s FY18 Ebitda to $9.2bn
Anglo American CE Mark Cutifani

De Beers FY18 revenue up 4% y/y

By: Marleny Arnoldi     21st February 2019 Anglo American subsidiary De Beers achieved a 4% year-on-year increase in revenue to $6.1-billion in 2018, compared with $5.8-billion in 2017, which was supported by improved high-end jewellery sales at De Beers Jewellers. Its earnings before interest, taxes, depreciation and amortisation,... 

De Beers FY18 revenue up 4% y/y

De Beers says laboratory-grown diamond wholesale prices fall by up to 60%

By: Reuters     22nd February 2019 Wholesale prices for laboratory-grown diamonds have fallen by up to 60% since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall. De Beers, part of mining group Anglo American, shocked the... 

Broadway Gold Mining anticipates investment to return to precious, base metals

By: Marleny Arnoldi     21st February 2019 Amid a rising US dollar, precious and base metals have suffered, owing to investment focusing elsewhere; however, this will not last, says TSX Venture-listed Broadway Gold Mining CEO Thomas Smeenk, whose junior mining company explores for silver, gold and copper in south-western Montana. He... 

Broadway Gold Mining anticipates investment to return to precious, base metals
Broadway Mining president and CEO Thomas Smeenk

Australia Minister denies report of China coal ban

By: Esmarie Iannucci     22nd February 2019 The Australian government has moved to allay shareholder fears after the share prices of Australian coal miners tumbled on news that China’s northern port of Dalian had banned coal imports from Australia, and placed an overall cap of 12-million tonnes for coal imports during 2019. Trade,... 

Australia Minister denies report of China coal ban

First Cobalt hires former Idaho governor to serve on board

By: Creamer Media Reporter      21st February 2019 Pure-play cobalt company First Cobalt has appointed the longest consecutively-serving government in the US – Butch Otter – to serve on its board of directors. Otter retired as Idaho governor in January, having served for 12 years. 

Precious metals developer Orosur appoints CFO

By: Creamer Media Reporter      21st February 2019 Dual-listed Orosur Mining has appointed Victor Hugo its CFO, replacing Ryan Cohen who served as interim CFO since November. Hugo is working with Marrelli Support Services, which provides CFO, accounting, regulatory, compliance and management advisory services to numerous issuers on the TSX,... 

BlueRock sells two D-colour Kareevlei diamonds

By: Tasneem Bulbulia     22nd February 2019 Aim-listed BlueRock Diamonds has sold the 8.97 ct diamond and the 16.28 ct diamond, that it recovered earlier this month at its Kareevlei diamond mine, in the Kimberley region of South Africa. The 8.97 ct diamond achieved a price of $8 306/ct, valuing it at $74 513, while the 16.28 ct diamond... 

Fourteen NGOs oppose LME plans to ban tainted cobalt

By: Reuters     22nd February 2019 Fourteen non-governmental organisations (NGOs) including Amnesty and Global Witness have opposed plans by the London Metal Exchange to ban cobalt tainted by human rights abuses, a letter seen by Reuters showed. Cobalt is a key ingredient in the batteries that power electric vehicles, a... 

AMCU strike action further undermines struggling gold, platinum sectors – Minerals Council 

By: Marleny Arnoldi     22nd February 2019 The Minerals Council South Africa on Friday expressed its concern about the consequences of Association of Mineworkers and Construction Union’s (AMCU’s) planned secondary strikes at mining companies where the union is recognised in the gold and platinum sectors. Fifteen companies have, so far,... 

AMCU strike action further undermines struggling gold, platinum sectors – Minerals Council
Minerals Council South Africa Roger Baxter

Gloria coal mine death toll rises to 18

By: African News Agency      22nd February 2019 Rescue and body retrieval workers on Friday afternoon brought to the surface 13 more bodies of suspected copper cable thieves from the underground area at Gloria coal mine near Middelburg in Mpumalanga, provincial police spokesman Brigadier Leonard Hlathi said. “The workers could not continue... 

Gemfields unveils new $15m automated ruby sort house in Mozambique

By: Tasneem Bulbulia     22nd February 2019 Gemfields on Friday unveiled a new ruby sort house near its Montepuez ruby mine (MRM), in Mozambique. The gemstone miner noted in a statement that the sort house, in which it invested $15-million, was the first of its kind for the gemstone industry and would be on par with the best diamond... 

Eskom was the 'main stage in the theatre of corruption', says Mabuza 

By: African News Agency      22nd February 2019 Eskom chairperson Jabu Mabuza told the Zondo Inquiry on Friday that the current board of directors discovered that the power utility was "the main stage in the theatre of corruption" when it was appointed in January 2018. Asked by evidence leader Vincent Maleka to detail the state of affairs when... 

Eskom was the 'main stage in the theatre of corruption', says Mabuza
Photo by Creamer Media
Eskom chairperson Jabu Mabuza

Acid truck collison near Glencore mine in the DRC kills 20 people

By: Creamer Media Reporter      22nd February 2019 About 20 people were killed when a truck transporting acid to Mutanda Mining owned by Glencore in the Democratic Republic of Congo collided with two people carriers about 50km from the site. The acid truck was heading to the copper and cobalt operation near Kolwezi in the southeast of the country. 

Transnet sets up war room to combat infrastructure-theft surge and line sabotage 

By: Terence Creamer     22nd February 2019 Transnet Freight Rail (TFR) has set up a war room together with the South Africa Police Service (SAPS) in a bid to deal with a surge in infrastructure theft, as well as recent acts of sabotage and vandalism on its key coal corridor from Ermelo, in Mpumalanga, to Richards Bay, in KwaZulu-Natal. On... 

Transnet sets up war room to combat infrastructure-theft surge and line sabotage

Wescoal appoints new CEO, reconstitutes board 

By: Creamer Media Reporter      22nd February 2019 JSE-listed Wescoal has appointed Reginald (Reg) Lavhelesani Demana, a mining and resources specialist, CEO, effective April 1. He will take over from interim CEO Dr Humphrey Mathe, who took over the position following former CEO Waheed Sulaiman's resignation in January. 

Wescoal appoints new CEO, reconstitutes board
Incoming Wescoal CEO Reg Demana

Jupiter pays out

By: Esmarie Iannucci     22nd February 2019 Metals miner Jupiter Mines has announced a final unfranked dividend of 2.5c a share, amounting to a 24% yield on its first year of listing. “Jupiter continues to deliver healthy returns. The yield on distributions by Jupiter since the 2017financial year are unprecedented in the mining industry,... 

Talisman pays it forward

By: Esmarie Iannucci     22nd February 2019 ASX-listed Talisman Mining will be returning A$29-million in cash to shareholders, in the form of 15.62c a share, following the sale of its interest in the Springfield exploration and Monty mining joint venture (JV) last year. Talisman sold its interest in the JV to partner Sandfire Mining last... 

Bellevue raises A$20m for namesake project

By: Esmarie Iannucci     22nd February 2019 ASX-listed Bellevue Gold was hoping to raise A$20-million through a share placement to sophisticated and institutional investors. The company said it would place some 37-million shares, at a price of 55c each to raise the cash, which will be used to advance the Bellevue gold project, in Western... 

Northam lifts H1 earnings, Booysendal on track for FY22 steady-state production  

By: Marleny Arnoldi     22nd February 2019 JSE-listed Northam Platinum has reported normalised earnings a share of 108.5c for the six months ended December 31, 2018, compared with the 37.1c reported for the six months ended December 31, 2017. This was on the back of normalised headline earnings having increased by 192% to R553-million,... 

Northam lifts H1 earnings, Booysendal on track for FY22 steady-state production
Photo by Creamer Media
Northam CEO Paul Dunne

Australia nailing its colours to coal mast, despite call to halt its use for power generation by 2050

By: Esmarie Iannucci     22nd February 2019 Amid rising electricity costs and flailing power supplies across the East Coast of Australia, the country’s government is standing firm on its decision to keep coal as one of its main sources of electricity generation. Australia’s East Coast is facing a plethora of electricity issues, with... 

Australia nailing its colours to coal mast, despite call to halt its use for power generation by 2050

Mining Weekly iPhone and Android Apps available for free download 

22nd February 2019 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 MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Gemfields’ latest Lusaka emerald auction generates $10.8m in revenue

By: Tasneem Bulbulia     21st February 2019 Gemfields’ latest auction of predominantly commercial-quality rough emeralds, held in Lusaka, Zambia from February 18 to 20, saw 24 companies placing bids and generated revenue of $10.8-million with an overall average value of $4.39/ct. 

Endeavour Mining appoints Mark Morcombe COO

By: Tasneem Bulbulia     21st February 2019 Gold producer Endeavour Mining has appointed Mark Morcombe COO, with effect from May 6. He will succeed Jeremy Langford, who will be leaving Endeavour on February 28. 

Higher output boosts Kaz Minerals' FY profit

By: Creamer Media Reporter      21st February 2019 Kazakhstan- and London-listed Kaz Minerals has reported an 11% jump in underlying profit to $530-million in 2018, as its revenue grew to $2.16-billion on the back of increased copper production and higher copper prices. The miner produced 14% more copper at 294 700 t and increased its sales by... 

UG2 outperforms as Sibanye positions for new world ­  

By: Martin Creamer     21st February 2019 The soaring prices of rhodium and palladium have put new focus on the upper group two (UG2) reef, for long the poor cousin of Merensky reef in the hierarchy of platinum group metals (PGMs) mining. Merensky's predominant platinum content has made it the preferred reef for decades but UG2 is... 

Sibanye-Stillwater CEO Neal Froneman's results presentation reported on by Mining Weekly Online's Martin Creamer. Photograph: Creamer Media's Dylan Slater. Video: Creamer Media's Darlene Creamer.

Resources Watch  

21st February 2019 DRDGold says Eskom grid upkeep increasingly problematic; Harmony is exploring Target North and Kalgold; and, Harmony cuts energy consumption, ushering in solar, mulling biofuels 

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