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Artisanal, small-scale mining explodes amid rising prices

By: Natasha Odendaal     22nd January 2018 A new report has revealed explosive growth in the number of artisanal and small-scale miners worldwide over the past two decades amid rising mineral prices and a general struggle in earning a living from agriculture. The Intergovernmental Forum (IGF) on Mining, Minerals, Metals and Sustainable... 

South32 makes management shifts as SAEC becomes standalone business

By: Megan van Wyngaardt     22nd January 2018 As part of setting up its South African Energy Coal (SAEC) operations as a standalone business, triple-listed South32 will make changes to the operational accountabilities of its two COOs, Mike Fraser and Paul Harvey. Fraser will now be accountable for the alumina and aluminium operations in... 

Revamped Barrick harkens back to founding principles as 'new generation' of discovery, partnerships beckon

By: Henry Lazenby     23rd January 2018 The world's largest gold producer by output Barrick Gold is looking towards a more sustainable future based on a leaner, more tightly owned portfolio, with future growth increasingly hinging on forming synergistic partnerships with former mining rivals. With the gold price off to a strong start... 

Revamped Barrick harkens back to founding principles as 'new generation' of discovery, partnerships beckon
Photo by Reuters
Barrick president Kelvin Dushnisky

US Commerce Dept confirms sent Trump aluminium probe results

By: Reuters     23rd January 2018 The US Commerce Department confirmed on Monday that it had submitted the results of its national security investigation into aluminium imports that could lead to broad import restrictions on the lightweight metal. A statement from the agency did not divulge any of the findings of the "Section... 

Sasol says higher oil price, if sustained, bodes well for H2

By: Terence Creamer     23rd January 2018 Chemicals and energy group Sasol indicated on Tuesday that its second-half results would be positively affected should the recent rise in oil prices to levels approaching $70/bbl be sustained for the remainder of its financial year, which runs to June 30. In a trading statement for the six months... 

Sasol says higher oil price, if sustained, bodes well for H2

Lundin secures a $300m debt facility to ensure Fruta del Norte’s development

By: Samantha Herbst     23rd January 2018 Canadian project developer Lundin Gold has secured a $300-million debt facility through commitments from five senior lenders – namely ING Capital, Société Générale, Caterpillar Financial Services Corporation, the Bank of Nova Scotia and KfW IPEX-Bank – for the development and construction of the... 

Iamgold begins Monster Lake drilling project

By: Anine Kilian     Updated 7 hours ago TSX-listed TomaGold has confirmed that an initial resource estimate is under way for its Monster Lake joint venture project, located 50 km south-west of Chibougamau, in Quebec, Canada. The estimate will be based on data from more than 80 000 m of drilling completed by TomaGold’s joint venture... 

Oyu Tolgoi reaches milestone with shaft completion, maintains force majeure

By: Mia Breytenbach     Updated 7 hours ago Rio Tinto subsidiary Turquoise Hill said that Oyu Tolgoi, a copper and gold mine in the southern Gobi desert, in Mongolia, has marked an early development milestone at the Hugo North Lift 1, with the completion of the sinking of Shaft 2, including reaching final depth, shaft bottom mass... 

Excellon sees stable Q4 production

By: Anine Kilian     Updated 7 hours ago Having ramped up production at its Mexico-based Platosa mine, TSX-listed silver miner Excellon removed a major bottleneck and demonstrated stable fourth-quarter production despite dry mining conditions. "We have more work to do though, as we are working through normal course transitional issues... 

Sayona buys another lithium project in Quebec

By: Mariaan Webb     23rd January 2018 ASX-listed junior Sayona Mining has announced the staged acquisition of the Tansim lithium exploration project, 82 km south-west of its Authier lithium project, in Quebec. The Tansim project comprises 65 mineral claims of 12 000 ha and is prospective for lithium, tantalum and beryllium. 

Alphamin raises C$56m to develop DRC tin project

By: Schalk Burger     23rd January 2018 Tin miner Alphamin Resources has raised C$56-million, or about $44.3-million, through the issue of nearly 175-million shares at C$0.32 a share to continue the development of the Bisie tin project, in North Kivu, in the Democratic Republic of Congo. The offering included the private placement of... 

Alphamin raises C$56m to develop DRC tin project
Bisie Tin project, North Kivu, DRC

Banro starts court-approved sales, investment solicitation process

By: Mia Breytenbach     Updated 7 hours ago Following the start of restructuring proceedings last month, Democratic Republic of Congo- (DRC-) focused miner Banro Corporation and its Barbados subsidiaries have initiated a sale and investment solicitation process (Sisp). The company, which in December filed for bankruptcy protection in... 

Kibali prepares for full production

By: Natasha Odendaal     23rd January 2018 Following the successful commissioning of the integrated automated ore handling and hoisting system of the underground operation at Kibali, in the Democratic Republic of the Congo, Randgold Resources is preparing to bring the mine into full production this year. In an update to shareholders on... 

Kibali prepares for full production
Photo by Duane Daws
Randgold CEO Mark Bristow

Copper production declined in first ten months of 2017 – ICSG

By: Schalk Burger     23rd January 2018 Worldwide copper mine production declined 2.6% in the ten months to October 2017, while concentrate production declined by 2.2% and production through solvent extraction-electrowinning declined by 4.3% in the same period, according to the intergovernmental copper body The International Copper... 

China to drive another year of rapid developments in aluminium market

By: Anine Kilian     23rd January 2018 Buoyed by events in China, the aluminium market is expected to see rapid growth in 2018, according to global energy, chemicals, renewables, metals and mining research and consulting group Wood Mackenzie (WoodMac). In its latest aluminium report, the company highlighted that China supply reforms,... 

Gold market mulling blockchain to secure $200bn of supply

By: Bloomberg     23rd January 2018 Gold is going digital. Blockchain technology may help keep track of the roughly $200 billion of the precious metal dug from remote mines, traded by middlemen and melted down by recyclers that’s sold each year to buyers scattered around the world. 

Agarwal plans to keep his Anglo American stake for a long time

By: Bloomberg     23rd January 2018 Anil Agarwal, the Indian commodities billionaire, said the rally in Anglo American vindicated his personal bet in the mining group, adding that he plans to own the shares for a long time. Agarwal surprised Anglo’s management last year when he took a 21% stake in the company, becoming its top... 

Zimbabwe may scrap local ownership rule on platinum, diamonds

By: Bloomberg     23rd January 2018 Zimbabwe, which has the world’s second-biggest platinum reserves, may lift a requirement that companies mining the metal or diamonds must be at least 51%-owned by black citizens of the country, President Emmerson Mnangagwa said. Mnangagwa, who became president in November after Robert Mugabe... 

Investment demand for gold on the rise - WGC

By: Megan van Wyngaardt     Updated 3 hours ago New ways to access the gold market, such as physical gold-backed exchange-traded funds (ETFs), have resulted in the investment demand for gold growing 18% each year since 2001, indicating that the precious metal has now become more mainstream, the World Gold Council (WGC) said in its latest... 

Investment demand for gold on the rise - WGC

Nersa to host hearings into R66.6bn Eskom claw-back applications in May

By: Terence Creamer     Updated 3 hours ago The National Energy Regulator of South Africa (Nersa) will hold public hearings across all of South Africa’s nine provinces between May 7 and May 25 to consider three revenue claw-back applications, collectively valued at R66.6-billion, submitted by cash-strapped power utility Eskom. The... 

Nersa to host hearings into R66.6bn Eskom claw-back applications in May

Kropz eyeing first ore through phosphates plant this year

By: Martin Creamer     Updated 3 hours ago Explorer, developer and miner of plant nutrient minerals Kropz, which has invested $120-million in its 95% complete Western Cape processing facility, is finalising plant design and mulling capital raising to take the Elandsfonten phosphates project to the next level, Kropz CEO-designate Ian... 

Kropz eyeing first ore through phosphates plant this year
Photo by Duane Daws
Kropz CEO-designate Ian Harebottle

Argentina, Russia ink uranium exploration, production deal

By: Reuters     Updated 3 hours ago Argentina and Russia signed a memorandum of understanding to boost uranium exploration and production in the South American country that could include $250-million in investment, Argentina's foreign ministry said on Tuesday. The agreement was sealed during a visit by Argentine President Mauricio... 

Alrosa signs 67 long-term diamond supply contracts

By: Creamer Media Reporter      Updated 3 hours ago Diamond major Alrosa has signed 67 long-term agreements for the sale of gem quality and industrial rough diamonds, 12 of which are agreements with Russian companies. Of the eight Russian companies that are buying rough diamonds from Alrosa, three are new clients – Aives, Diapur and Kristalldiam. 

Urgent need to recycle, reuse natural resources – report

By: Natasha Odendaal     Updated 4 hours ago A new global circularity metric unveiled in Davos, Switzerland, has revealed an urgent need to use the world’s resources more efficiently and create policies and economic infrastructure that encourages the recycling and reuse of natural resources. The Circle Economy’s first ‘Circularity Gap’... 

New French firm Orano, formerly called Areva, says uranium price too low to invest in mines

By: Reuters     Updated 5 hours ago Philippe Knoche, chief executive officer of French uranium and nuclear fuel group Orano - formerly called Areva - said current market prices for uranium are too low to invest in new uranium mines. He added that long-term contract prices for uranium are about $10/lb higher than spot prices. 

Berkeley says offtake activity to intensify this year

By: Mariaan Webb     Updated 5 hours ago Uranium project developer Berkeley Energia is seeing a “notable” increase in public tender activity and says it expects offtake activity to intensify, once full construction of its Salamanca mine, in Spain, is under way. In a quarterly update on Tuesday, Berkeley said that it would participate... 

Berkeley says offtake activity to intensify this year

Poseidon drills for lithium in Western Australia

By: Megan van Wyngaardt     Updated 6 hours ago ASX-listed Poseidon Nickel has started a 4 000 m drilling programme at its Medusa lithium project, near its Lake Johnston operations, which would fast-track the company's geological understanding and infill drill hole planning at the Western Australian project. Poseidon contracted Core Drilling... 

MPs threaten Transnet board, executives with jail for no show at Parliament

By: African News Agency      Updated 7 hours ago MPs on Tuesday read board members and executives of South Africa's State-owned freight and logistics company, Transnet, the riot act for failing to show up at a meeting of Parliament's standing committee on public accounts last year. The board members and executives failed to show up at the... 

MPs threaten Transnet board, executives with jail for no show at Parliament

Metal Tiger slashes Kingsgate stake, says ‘watching board’

By: Mariaan Webb     Updated 7 hours ago Aim-listed resources investor Metal Tiger has slashed its shareholding in ASX-listed Kingsgate Consolidated from 19.43-million shares to 11.50-million shares, representing 5.5% of the share capital. The company booked gross proceeds of A$2.69-million (about £1.53-million) on the sale. 

Intermin delivers strong December quarter

By: Natasha Odendaal     Updated 7 hours ago Western Australia-focused Intermin on Tuesday reported strong December-quarter operational performance for its 100% owned Teal gold mine, near Kalgoorlie-Boulder. The first toll milling campaign at the one-million tonne Lakewood toll milling facility has been successfully completed and the mine... 

Manhattan in merger deal with New Zealand’s Trans-Tasman

By: Natasha Odendaal     23rd January 2018 ASX-listed Manhattan Corporation has entered into a binding merger implementation agreement for the acquisition of unlisted New Zealand limited company Trans-Tasman Resources (TTR). Manhattan will acquire all the issued capital in TTR through the issue of 706-million ordinary shares and... 

Zimbabwe considers building gold, diamond reserves to back currency relaunch

By: Bloomberg     23rd January 2018 Zimbabwe’s new President Emmerson Mnangagwa said his government is considering building reserves of gold and diamonds to back the eventual relaunch of the country’s own currency. The nation abandoned the Zimbabwe dollar in February 2009 after an economic collapse saw inflation surge to about... 

Bass Metals moves closer to commissioning graphite mine

By: Megan van Wyngaardt     23rd January 2018 ASX-listed Bass Metals, which is developing the Graphmada large flake graphite mine, in Madagascar, has completed a major component of the recommissioning process at the project. The mine is now nearing completion of Stage 1 of delivering a 100%-owned mine free of any serviceable debt. "With... 

Thakadu’s nickel plant secures R50m black industrialist grant

By: Martin Creamer     23rd January 2018 Innovative metals and energy company Thakadu Battery Materials has secured a R50-million black industrialist grant from South Africa’s Department of Trade and Industry (DTI) for the construction of its pure nickel sulphate plant in North West province, which will make use of platinum producer... 

Thakadu’s nickel plant secures R50m black industrialist grant
Thakadu CEO Ruli Diseko

Southern Gold, Westgold in deal to develop Cannon underground mine

By: Natasha Odendaal     23rd January 2018 Australian gold producer Southern Gold has entered an agreement with development partner Westgold Resources for the underground development phase at the Cannon gold mine, near Kalgoorlie, Western Australia. Westgold will pay Southern Gold A$1.5-million upfront for a five-year right-to-mine within... 

Carbine expects Mt Morgan revised environmental approval by May

By: Megan van Wyngaardt     23rd January 2018 ASX-listed Carbine Resources on Tuesday said it expected the completion of a revised environmental authority (EA) for its Mount Morgan gold and copper project, located in central Queensland, in May. The miner lodged an EA amendment application in 2017, with the Department of Environment and... 

Po Valley sells Italy operations subsidiary to Saffron Energy

By: Megan van Wyngaardt     23rd January 2018 Perth-based Po Valley on Tuesday signed a binding share sale and purchase agreement with Aim-listed Saffron Energy, under which the latter would acquire onshore and offshore oil and gas production, development and exploration assets in northern Italy held by Po Valley Operations (PVO). Subject to... 

Blackham unveils A$36m rights issue; shares tumble as trading resumes

By: Mariaan Webb     23rd January 2018 A month after its shares were suspended, embattled miner Blackham Resources returned to the market on Tuesday after announcing late on the previous day that it would raise A$36-million in a rights issue. Shares in the cash-strapped company, which operates the Matilda-Wiluna gold mine in Western... 

Blackham unveils A$36m rights issue; shares tumble as trading resumes

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