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Indaba invaluable, time-efficient industry barometer – previous delegates

By: Nadine James     5th December 2016 Considered the preferred deal-making platform for mining in Africa, the Investing in African Mining Indaba – scheduled to run from February 6 to 9, in Cape Town – offers invaluable networking opportunities and informative discussions and presentations, contributing to the success of African... 

Indaba invaluable, time-efficient industry barometer – previous delegates
TIME IS MONEY The Mining Indaba is the most time-efficient way of gaining insight into African mining

Chile's Codelco plans investments of $3.8bn in 2017 – CEO

By: Reuters     5th December 2016 Chile's State-owned Codelco, the world's largest copper producer, plans investments of about $3.8-billion in 2017 and more cost cutting, CEO Nelson Pizarro said in an interview published on Sunday. "Of that, $3.143-billion is in projects, and $651-million is in mine development, which compares to... 

Chile's Codelco plans investments of $3.8bn in 2017 – CEO
Codelco CEO Nelson Pizarro

Copper rally to fade, but gradual price uptrend to continue

By: Anine Kilian     5th December 2016 Research group BMI has increased its 2017 copper price forecast from $4 900/t to $5 150/t, as ongoing Chinese fiscal spending has bolstered the Asian nation’s demand growth outlook. BMI therefore expects copper prices to gradually improve over a multiyear horizon, as steady demand growth and... 

Copper rally to fade, but gradual price uptrend to continue

Scotiabank index stronger on oil, copper rally

By: Megan van Wyngaardt     5th December 2016 The Scotiabank Commodity Price Index gained 9.1% month-on-month in October, supported by large positive moves in both the oil and gas and metals and minerals sub-indices. Of note in each of these markets are the recently concluded Organisation of the Petroleum Exporting Countries (Opec) agreement... 

Deutsche Bank to pay $60m to settle US gold price-fixing case

By: Reuters     5th December 2016 Deutsche Bank AG has agreed to pay $60-million to settle private US antitrust litigation by traders and other investors who accused the German bank of conspiring to manipulate gold prices at their expense. The preliminary settlement was filed on Friday with the US District Court in Manhattan, and... 

C$5.5m invested in research to minimise mining’s environmental impact

By: Anine Kilian     5th December 2016 A strategic partnership grants programme administered by the Natural Sciences and Engineering Research Council of Canada (NSERC) has raised $5.5-million in funding for a research network, based at the University of Waterloo, in Ontario, Canada, which is researching new ways for mining companies... 

Tertiary Minerals sells Finnish gold assets to Canadian company

By: Megan van Wyngaardt     5th December 2016 Aim-listed Tertiary Minerals has sold two noncore gold assets, Kaaresselkä and Kiekerömaa, in Finland, to TSX-V-listed Aurion Resources. Aurion will pay an initial consideration of £15 000 in cash and £85 000 in Aurion shares, with Tertiary retaining a royalty interest in the projects. 

Turquoise Hill stops shipments from Mongolian mine to China

By: Reuters     2nd December 2016 Canadian copper miner Turquoise Hill Resources Ltd said on Friday it had suspended shipments from its Oyu Tolgoi mine in Mongolia across the Chinese border, a day after the imposition of new fees on commodity shipments between the two countries. The fee was imposed following a diplomatic row... 

Turquoise Hill stops shipments from Mongolian mine to China
Oyu Tolgoi mine, Mongolia

Lucara transitions to new Karowe mining contractor as Eqstra Botswana exits

By: Natasha Odendaal     5th December 2016 JSE-listed eXtract subsidiary Eqstra Botswana’s five-year opencast mining contract with TSX-listed Lucara Diamond Corporation’s Boteti Mining, in Botswana, has been terminated after two years. Eqstra Botswana, which started the mining contract in December 2014, will cease all mining operations at... 

Lucara transitions to new Karowe mining contractor as Eqstra Botswana exits

Ritchie Bros rakes in $40m from final auction of 2016

By: Megan van Wyngaardt     5th December 2016 Industrial auctioneer Ritchie Bros held its fifth and final Fort Worth, Texas auction for the year last week, selling 4 950 items over two days for more than $40-million. These items included oil, gas, power and utility equipment, as well as general construction equipment, vocational trucks and... 

Mining Weekly iPhone and Android Apps available for free download 

     2nd December 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 MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Gold now accepted as an investment in Islamic finance

By: Anine Kilian     5th December 2016 A new standard approved by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and the World Gold Council (WGC), for the first time, sets specific rules for the use of gold as an investment in the Islamic finance industry. The standard deals with the Shari’ah... 

SFO probes Israeli billionaire, ex-ENRC directors on Congo deals

By: Bloomberg     5th December 2016 The UK Serious Fraud Office (SFO) is investigating Israeli billionaire Dan Gertler and four former Eurasian Natural Resources Corporation (ENRC) executives as part of its three-year probe into the Kazakh company’s acquisition of copper and cobalt mining projects in the Democratic Republic of... 

Glencore producing zinc at minus cost

By: Martin Creamer     5th December 2016 Diversified mining and marketing company Glencore is producing zinc at negative cost. This year it has been doing so at -3c/lb and next year it expects to do so at an even better -14c/lb, supported by healthy lead by-product credits. 

Glencore producing zinc at minus cost
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

Pan African to build R1.74bn Elikhulu tailings project

By: Anine Kilian     5th December 2016 Following the receipt of a positive independent definitive feasibility study (DFS), precious metals producer Pan African Resources has decided to proceed with the construction of the Elikhulu tailings project, in Mpumalanga. Pan African noted on Monday that the DFS results had shown “excellent”... 

Pan African to build R1.74bn Elikhulu tailings project
Photo by Duane Daws
Pan African CEO Cobus Loots

Debswana to extend lifespan of Botswana diamond mine

By: African News Agency      5th December 2016 Botswana diamond miner Debswana has reported significant progress in the implementation of the Lethlakane mine tailings resource treatment project (LMTRTP). In a statement issued on Friday, Debswana corporate affairs manager Matshidiso Kamona said the tailing treatment project was 80%complete.... 

Anglo faces platinum test in possible South Africa spinoff

By: Bloomberg     5th December 2016 Anglo American is facing a showdown with its biggest investor, South Africa’s State-owned Public Investment Corporation, which wants the miner’s prized platinum assets included in any divestment of its local operations. PIC, which owns about 14.5% of Anglo, is insisting platinum is included in... 

Eskom reiterates 50%-plus black ownership requirement for coal suppliers

By: Megan van Wyngaardt     5th December 2016 State-owned electricity provider Eskom on Monday reiterated its commitment to procure coal for its power stations from companies that have a black ownership of more than 50%, throughout the life of the mine. This comes after Exxaro Resources recently revealed a new black economic empowerment... 

Eskom reiterates 50%-plus black ownership requirement for coal suppliers

Edenville coal sampling results show power plant feed potential

By: Natasha Odendaal     5th December 2016 The latest sampling and wash test results are validating the initial positive results of the recent bulk sampling programme at the Rukwa coal-to-power project, in Tanzania, Aim-listed Edenville Energy said on Monday. The results from seam MK1, which followed closely on that of the seam MK2... 

Kumba ranked carbon disclosure leader

By: Megan van Wyngaardt     5th December 2016 Kumba Iron Ore, a business unit of Anglo American, has been named one of the carbon disclosure leaders for 2016 by Engaged Tracking (ET) Index Research – the only company from the Brazil, Russia, India, China and South Africa grouping on the list. In its yearly ‘ET Carbon Rankings’, released on... 

Armadale, KMP to proceed with DRC gold project JV

By: Megan van Wyngaardt     5th December 2016 Kisenge Mining (KMP) has completed due diligence and exercised its option to form a joint venture (JV) over Aim-listed Armadale Capital’s Mpokoto gold project, in the Democratic Republic of Congo. Mpokoto has a total mineral resource of 678 000 oz gold from 14.58-million tonnes, at 1.45 g/t. 

Alcoa works to stabilise Portland smelter

By: Esmarie Swanepoel     5th December 2016 Aluminium major Alcoa is still working to stabilise its Portland smelter, in Victoria, following a power outage last week. Alcoa said in a statement on Monday that work had begun to assess the operational impact of the outage; however, given the significance of the event, the company was faced... 

Australian exploration shows signs of life

By: Esmarie Swanepoel     5th December 2016 Total mineral exploration spend increased by 0.6% during the September quarter, to A$349.2-million, with Western Australia pushing the trend, delivering a 1.9% increase in exploration spend. New data from the Australian Bureau of Statistics (ABS) on Monday revealed that the seasonally adjusted... 

Australian exploration shows signs of life

DMP approves Browns Range pilot plant

By: Esmarie Swanepoel     5th December 2016 The Western Australian Department of Mines and Petroleum has approved rare earths developer Northern Minerals’ Browns Range pilot plant. The proposed pilot plant is a tenth of the scale of the full operation, and has a 60 000 t/y crushing beneficiation circuit, and 3 200 t/y hydrometallurgical... 

Final state approvals granted for A$22bn Carmichael coal mine

By: Esmarie Swanepoel     5th December 2016 The A$21.7-billion Carmichael coal and rail project, being developed by Indian major Adani, has secured its final state and federal government approvals, after the Queensland Coordinator-General approved an application for the project’s rail line into Abbot Point. The approval is for 31.5 km of... 

Final state approvals granted for A$22bn Carmichael coal mine

Metro gains majority stake in Gulf Alumina, rival bid falls by the wayside

By: Esmarie Swanepoel     5th December 2016 ASX-listed Metro Mining has declared its takeover offer for Gulf Alumina unconditional, after shareholders representing some 57.3% of the company’s issued capital accepted its offer. Metro initially offered Gulf shareholders a choice between 60c in cash a share, or a cash and shares alternative... 

Dacian abandons raising plans as gold tumbles

By: Esmarie Swanepoel     5th December 2016 Gold developer Dacian Gold has abandoned its plans for a A$102-million entitlement offer, citing a volatile gold market. The miner previously launched a A$150-million capital raise consisting of a A$50-million institutional placement and a A$100-million accelerated nonrenounceable entitlement... 

Industry to collaborate with NT fracking inquiry

By: Esmarie Swanepoel     5th December 2016 The Australian Petroleum Production and Exploration Association (Appea) has welcomed the Northern Territory’s proposed inquiry into hydraulic fracturing (fracking), after the state government revealed the final terms of reference for the inquiry. Northern Territory Environment and Natural... 

Industry to collaborate with NT fracking inquiry

Minbos in A$20m merger with Angolan partner

By: Esmarie Swanepoel     5th December 2016 ASX-listed junior Minbos has signed a nonbinding term sheet to buy its Angolan joint venture (JV) partner, Petril Phosphate, in a transaction valued at about A$20-million. Under the proposed merger of equals, Minbos will acquire all shares in Petril in a mostly scrip transaction, that will... 

Minbos in A$20m merger with Angolan partner

Victoria needs more gas – EnergyQuest

     5th December 2016 New data from energy market analyst EnergyQuest has revealed that Victoria will need substantially more gas to provide long-term electricity supply. In its latest 'EnergyQuarterly', EnergyQuest noted on Monday that the state had less than a decade to get its gas supply in order, after data... 

Toro flags costs cuts at Wiluna

By: Esmarie Swanepoel     5th December 2016 Beneficiation and process design studies for the Wiluna uranium project, in Western Australia, have flagged a "substantial" reduction in the size and cost of the planned operating facility, Toro Energy said on Monday. A redesign of the process flow sheet reduced the capital cost of the proposed... 

India’s weekend diplomatic push to salvage Farzad deal with Iran

By: Ajoy K Das     5th December 2016 India has launched a fresh diplomatic push to salvage a deal for Iran’s Farzad B oil and gas fields. At a weekend meeting between the Petroleum Ministers of the two countries, India leveraged its past relations with Iran to bargain for a new deadline to secure the award of the offshore Farzad B... 

KIOCL makes headway in securing iron-ore for its pellet plants

By: Ajoy K Das     5th December 2016 Indian iron-ore pellet producer KIOCL, formerly Kudremukh Iron Ore Company Limited, is poised to strike key deals in securing new iron-ore sources across the country. As a primarily iron-ore pellet producer without a captive iron-ore access source, new sources are key to its long-term survival... 

Poverty led to Marikana tragedy, says Mahumapelo

By: African News Agency      5th December 2016 Poverty was the root cause of the Marikana tragedy four years ago, North West premier Supra Mahumapelo said on Sunday. “Poverty forced people to work in the mines, some come from Zimbabwe, Lesotho, the Eastern Cape and other provinces, and neighbouring countries to work in Rustenburg mines,” he... 

Poverty led to Marikana tragedy, says Mahumapelo

All systems go at Hernic as Jubilee eyes new projects

By: Natasha Odendaal     2nd December 2016 Mine-to-metals company Jubilee Platinum is days away from starting the commissioning of its new Hernic platinum group metals-bearing chrome tailings processing plant, in the North West. With some 90% of the budgeted capital spent to date, the group is nearing the full completion of the mechanical... 

Rare Earth Minerals acquires 7.7% stake in Auroch

By: Anine Kilian     2nd December 2016 London- and New York-listed Rare Earth Minerals (REM) has subscribed for 6.5-million new shares in ASX-listed Auroch Minerals through a A$650 000 share subscription, giving it a 7.7% interest in Auroch. “REM continues to deploy its expertise in identifying value investments in highly prospective... 

Glencore sees nickel shortage as electric vehicle demand burgeons

By: Martin Creamer     2nd December 2016 Diversified mining and marketing company Glencore sees a shortage in nickel arising as a result of burgeoning demand from electric vehicle (EV) production. Batteries used in EVs are consuming about 100 000 t of nickel demand and if 10% of the world’s vehicle fleet transitions to electric power,... 

Glencore sees nickel shortage as electric vehicle demand burgeons
Glencore's Koniambo nickel project in New Caledonia, a French territory.

India's Coal Minister says no value in splitting Coal India

By: Reuters     2nd December 2016 India's Power and Coal Minister Piyush Goyal said there was no value in splitting up India's biggest coal producer Coal India. Reuters reported on Wednesday that according to a presentation by senior government officials, a proposal has been mooted to break up of the country's Coal India... 

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