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US states, industry lash out at final Obama climate rules

By: Henry Lazenby Several coal-producing US states and the private sector have lashed out at President Barack Obama and the US Environmental Protection Agency’s (EPA’s) first-ever Clean Power Plan Rule that was finalised on Monday, aiming to cut carbon pollution from existing power plants and dealing the domestic... 

US states, industry lash out at final Obama climate rules

Sinking gold price changed US mining landscape during H1 – USGS

By: Henry Lazenby The sliding gold price contributed to a significantly changed US gold-mining landscape during the first half of 2015, influencing a 9% year-on-year decrease in domestic output for April, the US Geological Survey (USGS) said in a new mineral industry survey on the yellow metal. Gold output by US... 

Codelco says protectors damage key Ministro Hales mine equipment

By: Reuters Chilean state copper company Codelco said important mine equipment at its newest project Ministro Hales had been seriously damaged by striking contract workers who seized control of the site this week, potentially affecting output. Contract workers affiliated with the Confederation of Copper... 

Cameco’s Seitz chosen as Canpotex next president, CEO

By: Henry Lazenby The world’s dominant potash exporting and marketing firm Canpotex, which sells the products of Canada’s biggest potash miners PotashCorp, Mosaic and Agrium to offshore markets, has appointed Canadian uranium producer Cameco’s senior VP and chief commercial officer Ken Seitz its new president and... 

Ivanhoe, Zijin extend Kamoa transaction completion date

By: Megan van Wyngaardt TSX-listed Ivanhoe Mines and Zijin Mining Group have extended the completion date for Zijin's planned investment in Ivanhoe's Kamoa copper project, in the Democratic Republic of Congo, to 15 business days after the satisfaction or waiver of all conditions precedent to the transaction have been... 

Vista Gold fully funded through 2018

By: Henry Lazenby Project developer Vista Gold is fully funded through to 2018, focused on preserving funds while biding its time to make a decision to proceed with a feasibility study on its fully owned Mt Todd gold project, in Australia’s Northern Territory. President and CEO Frederick Earnest told analysts on a... 

Haile stress-tested for low commodity prices – Wilkes

By: Esmarie Swanepoel     Updated 2 hours 34 minutes ago The low-cost Haile gold project, in South Carolina, would weather a low commodity price environment, dual-listed gold miner OceanaGold said on Wednesday. Speaking on the sidelines of the Diggers & Dealers conference, OceanaGold MD and CEO Mick Wilkes noted that the Haile project had the basic... 

Mexico's Penoles profit up on gold production

By: Reuters Mexican miner Penoles said on Tuesday its net profit rose 42.5% in the second quarter as gold production increased and net financial costs fell. The miner and metals processor, which runs the world's largest primary silver producer, Fresnillo, posted 552.62 million pesos ($35.2-million) in net... 

Noranda Aluminum halts billet output at Missouri plant after blast

By: Reuters Noranda Aluminum has suspended output of aluminium billet extrusion at its New Madrid plant, in Missouri, after an explosion at the site, a spokesperson said on Tuesday, a move that could relieve downward pressure on prices in the glutted market for the metal. The blast took place at about 12:30... 

Creamer Media publishes Real Economy Insight: Iron-Ore 2015 brief

This six-page brief is a synopsis of key developments in the iron-ore sector over the past 12 months, including details of the global and South African iron-ore markets, as well as prospects for the secto 

Creamer Media publishes Real Economy Insight: Iron-Ore 2015 brief

Kangala contractor, union ink wage deal

By: Creamer Media Reporter      Updated 1 hour 20 minutes ago Mineral Resource Development, the contractor responsible for the coal handling and processing plant at Universal Coal’s Kangala colliery, has signed a three-year wage deal with the Association of Mineworkers and Construction Union. The agreement provided for increases in employees’ wages, along... 

India to import up to 1 000 t of gold in 2015/16 – refiner

By: Reuters     Updated 2 hours 15 minutes ago India is likely to import between 900 t and 1 000 t of gold in the 2015/16 financial year that began in April, the head of gold refiner MMTC-PAMP said on Wednesday. India's July imports are expected to be between 70 t and 75 t, and its August imports more than 75 t, said Rajesh Khosla, MD of... 

S Africa's mining sector in trouble, says Patel

By: Reuters     Updated 2 hours 22 minutes ago South Africa's mining sector is in "trouble" as it struggles with widespread job losses and lower commodity prices, Minister of Economic Development Ebrahim Patel said on Wednesday. President Jacob Zuma's government was due to hold an urgent meeting with mining houses and trade unions later in... 

S Africa's mining sector in trouble, says Patel
Photo by Duane Daws
Economic Development Minister Ebrahim Patel

CoAL secures funds to advance Makhado project

By: Creamer Media Reporter      Updated 2 hours 31 minutes ago Triple-listed Coal of Africa Limited (CoAL) has entered into subscription and loan agreements with Singapore-registered private investment company Yishun Brightrise Investment PTE, which will see Yishun take a 9.5% equity stake in CoAL for £9.4-million, or about $14.7-million. Under the... 

CoAL secures funds to advance Makhado project
Photo by Duane Daws
CoAL CEO David Brown

R50m mine design centre opens

By: Martin Creamer     Updated 2 hours 38 minutes ago The University of Pretoria’s new virtual and augmented reality mine design centre, which is set to revolutionise both surface and underground mine design, was officially opened on Tuesday evening. A total of R50-million has been invested in the centre, which has come out of a highly successful... 

R50m mine design centre opens
Inside the new mine design centre

Panoramic seeks buyers for Gidgee

By: Esmarie Swanepoel     Updated 3 hours ago Nickel-focused Panoramic Resources would undertake a more formal process to sell its Gidgee gold project, MD Peter Harold said on the sidelines of the Diggers & Dealers conference. Panoramic and its joint venture partner Matsa Resources sold the Mt Henry gold project to fellow-listed Metals X in... 

Gold Fields spends big on Oz exploration

By: Esmarie Swanepoel     Updated 4 hours ago Gold miner Gold Fields will continue with its massive exploration spend in Australia over the next three to five years. VP for Australian operations Stuart Mathews on Wednesday said the company would spend between $85-million and $90-million on exploration work during 2015, with spending levels... 

Industry welcomes workplace reform suggestions

By: Esmarie Swanepoel     Updated 5 hours ago The Australian resources sector has welcomed the release of the Productivity Commission’s (PC’s) draft report on Australia’s workplace relations, with the Minerals Council calling for greater debate. The draft report identified a number of deficiencies in the current regime, suggesting reforms of... 

Ramelius hopes for Blackmans production in 2016

By: Esmarie Swanepoel     Updated 6 hours ago Gold miner Ramelius Resources is hoping to add the Blackmans gold project as a bolt-on operation to its existing Mt Magnet mine, in Western Australia, within the next year. “I would like to think that we can bring this project on line as quickly as we did Kathleen Valley,” Ramelius MD Mark... 

Metals X won't brawl for projects – Cook

By: Esmarie Swanepoel     Updated 6 hours ago Diversified metals miner Metals X told the last day of the Diggers & Dealers conference that while it would continue with its acquisition strategy, the company would not become involved in a bidding war for an asset. CEO and executive director Peter Cook pointed out on Wednesday that, in the last... 

Creamer Media publishes Real Economy Insight: Coal 2015 brief

     Updated 7 hours ago This ten-page brief is a synopsis of key developments in the coal industry over the past 12 months. It provides an overview of the global and South African coal markets and the role of coal in South Africa’s economy, with a particular focus on the role of coal in the generation of electricity. 

Creamer Media publishes Real Economy Insight: Coal 2015 brief

Federal Court overturns Carmichael approval

By: Esmarie Swanepoel The Federal Court has overturned governmental approval for the $16.5-billion coal and rail project, in Queensland, following a legal challenge by an environmental group. The Mackay Conservation Group argued that, in approving the Carmichael project, Environment Minister Greg Hunt had failed to... 

Federal Court overturns Carmichael approval

Optimum mine right suspended, penalties may force R1/t coal supply 

By: Martin Creamer Financially stricken Optimum Coal has been hit by a double whammy – huge potential penalty claims from State electricity utility Eskom plus a suspension of its mining licence by the Department of Mineral Resources (DMR) for alleged inhumane retrenchment. In the face of these latest setbacks,... 

Optimum mine right suspended, penalties may force R1/t coal supply
Photo by Duane Daws
Clinton Ephron

‘Depressed’ PGM market cycle stalls RBPlat’s Styldrift expansion

By: Natalie Greve Royal Bafokeng Platinum (RBPlat) plans to scale back on construction at its Styldrift 1 expansion project, telling investors on Tuesday that a sustained depression in the platinum group metals (PGMs) market – which is expected to continue over the medium term – was behind the imperative to reduce... 

‘Depressed’ PGM market cycle stalls RBPlat’s Styldrift expansion
Photo by Duane Daws
RBPlat CEO Steve Phiri

Palabora operations hit by wave of protests 

By: Natasha Odendaal Limpopo-based Palabora Copper on Tuesday confirmed that operations at its copper mine, in Phalaborwa, had been halted since Friday night, as Ba-Phalaborwa community members embarked on violence and intimidation sparked by what the company claimed was propaganda. Corporate affairs manager Hulisani... 

Jubilee in talks over R255m debt facility

By: Natasha Odendaal Following dual-listed Jubilee Platinum’s announcement that it is in advanced talks for a debt facility to fund the bulk of the R346-million needed to bring its two surface platinum processing plants into operation, the mine-to-metals specialist’s JSE share price on Tuesday afternoon contracted... 

Steinmüller Engineering’s new South Africa office to target energy prospects

By: Creamer Media Reporter Engineering and technology specialist Steinmüller Engineering has opened a branch office in South Africa, which will focus on providing services to the power and industrial markets in South Africa and sub-Saharan Africa. The company was formed in Germany in 2003 and, in June 2014, was acquired by... 

Steinmüller Engineering’s new South Africa office to target energy prospects

Shale gas laws still scaring foreign investors 

By: African News Agency Concern about the free stake the South African government will take in shale gas projects continues to be the main obstacle to foreign investment in exploration in that field, mineral resources officials told MPs on Tuesday. “The definition of free carry interest in the bill lent itself to a... 

Shale gas laws still scaring foreign investors

Avocet draws down on loan facility to continue business review

By: Megan van Wyngaardt Aim-listed Avocet Mining has drawn down further funds under the third Elliott loan facility of about $2.4-million, agreed with Manchester Securities, an affiliate of the company's largest shareholder Elliott Management Corporation. The funds would be used to meet Avocet’s corporate requirements... 

Evolution not averse to buying more assets

By: Esmarie Swanepoel Australia’s second-largest gold miner Evolution Mining will continue to evaluate potential acquisitions in Australia, with executive chairperson Jake Klein saying that the company could also potentially look at opportunities outside Australia. The gold miner recently wrapped up a $550-million buy... 

Turner & Townsend diversification strategy delivers R7.2bn turnover

By: Megan van Wyngaardt Global programme management and construction consultancy Turner & Townsend increased its turnover for the financial year to April 30, to R7.2-billion, with turnover in Africa up 3% to more than R290-million. The R7.2-billion was up 11% on the R6.8-billion achieved in the prior year. 

Turner & Townsend diversification strategy delivers R7.2bn turnover

SouthGobi CFO resigns, successor to be announced

By: Sashnee Moodley Mongolia-focused coal miner SouthGobi Resources CFO Bertrand Troiano has resigned following a two-year secondment from mining giant Rio Tinto, which ended on July  

Harmony reports Kusasalethu fatality

By: Creamer Media Reporter An employee was fatally injured in a rail bound accident at Harmony Gold’s Kusasalethu mine, near Carletonville, on Monday. Harmony on Tuesday said investigations into the accident were under way, with all tramming operations on the level where the accident occurred having been stopped. Harmony’s... 

Merafe H1 earnings slump

By: Natasha Odendaal JSE-listed Merafe Resources on Tuesday posted a 12% rise in revenue to R2.2-billion as ferrochrome sales delivered a double-digit increase to 191 000 t during the first half of 2015. However, Merafe’s earnings before interest, taxes, depreciation and amortisation (Ebitda) from its Glencore–Merafe... 

African Potash signs three-year deal with Comesa

By: Megan van Wyngaardt To create a vertical platform for the mining, production and distribution of fertiliser in the Common Market for Eastern and Southern Africa (Comesa) region, Aim-listed African Potash and Mask Africa Crowd Farm Fund (MACFF) have entered into a three-year trading agreement with Comesa. Under the... 

Codelco's Ministro Hales mine halted as protesters occupy site

By: Reuters Chile State copper producer Codelco said it had suspended operations at its Ministro Hales mine, in northern Chile, after the complex was seized by striking contract workers. Contract workers affiliated with the Confederation of Copper Workers, or CTC, have been on strike across Codelco's... 

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