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Alpha Natural affiliates to downsize Central Appalachian mining ops

By: Henry Lazenby Several operating affiliates of US coal miner Alpha Natural Resources on Friday notified more than 500 employees that their mining and processing operations would probably be idled. NYSE-listed Alpha’s affiliates gave 439 employees at Rockspring Development's Camp Creek underground mine and... 

Alpha Natural affiliates to downsize Central Appalachian mining ops

Cameco declares commercial production at Cigar Lake

By: Henry Lazenby Canadian uranium major Cameco on Friday announced that it had declared commercial production at its Cigar Lake operation, in Saskatchewan, effective from May 1. The TSX- and NYSE-listed miner had suffered several setbacks in developing the Cigar Lake mine over the years, as frequent flooding and... 

Silvercorp widens FY loss as mine impairment charges weigh

By: Henry Lazenby China-focused miner Silvercorp Metals has reported a wider net loss for the 2015 fiscal year, weighted down by booking $130.3-million in impairment charges at two mines as a result of lower metals prices. For the year ended March 31, the Vancouver-based company reported a net loss of... 

Wolfden Resources terminates Murray Brook acquisition, opts for Manitoba claim

By: Henry Lazenby Base metals explorer Wolfden Minerals has cancelled its exclusivity agreement with Votorantim Metals Canada to buy a 65% interest in the Murray Brook project, the fifth-largest massive sulphide deposit in the Bathurst Mining Camp (BMC) of New Brunswick, settling instead for a Manitoba... 

European mining seemingly regaining lost lustre as at least one mine opens each year since 2008

By: Ilan Solomons Europe is remarkable in that its mining industry predates the Roman Empire, yet large portions of unexplored territories with highly prospective resources remain, says European metals and minerals mining representative body Euromines president Mark Rachovides. Mattia Pellegrini, head of the raw... 

European mining seemingly regaining lost lustre as at least one mine opens each year since 2008

Buffalo considers restructuring, placed under TSX delisting review

By: Megan van Wyngaardt Troubled coal miner Buffalo Coal said on Friday that it would continue to consider restructuring alternatives at its Dundee operations, in KwaZulu-Natal, and advised shareholders that it was under a TSX delisting review. The dual-listed South Africa-focused company’s finances were under strain,... 

Eldorado Gold renews share purchase scheme

By: Henry Lazenby Canadian gold producer Eldorado Gold has renewed its share-buying programme for another year, in order to satisfy obligations under its restricted share unit plan (RSU plan) for employees, officers of the company or a related entity as the designated by the board. Eldorado on Friday reported... 

Red Kite co-founder plans new Orion metals fund – sources

By: Reuters US mining financier Oskar Lewnowski is preparing to launch a base and precious metals fund, sources say, his latest step in recreating the famed trading and investment enterprise he co-founded a decade ago, Red Kite. Two years after striking out on his own to create private equity investment... 

Trafigura's global metals trading chief Simon Collins resigns

By: Reuters Trafigura's global head of the metals and minerals trading division, Simon Collins, has resigned for personal reasons, the commodities merchant said on Friday, the second senior executive departure in the past month. Group CEO Jeremy Weir has taken the reins of the business, the second largest... 

Well-known institutional investor joins U3O8 Corp’s board

By: Henry Lazenby Uranium explorer U3O8 Corp has appointed well-known institutional investor David Franklin to its board with immediate effect. Franklin brought to the board a proven record of mining investment experience that would help U3O8 Corp’s expand its investor reach and position the company for further... 

Creamer Media publishes Platinum 2015: A review of South Africa's platinum sector

Creamer Media’s ‘Platinum 2015’ report reviews South Africa’s platinum-sector business environment, with particular focus on the main participants in the platinum industry, as well as other platinum producers, and exploration and development companies. The report also provides a global overview... 

Creamer Media publishes Platinum 2015: A review of South Africa's platinum sector

TKAG wants Karoo exploration delayed until conclusion of enviro assessment

By: Natasha Odendaal The Treasure the Karoo Action Group (TKAG) on Friday called on government to delay publishing final regulations and issuing rights for shale gas exploration in the Karoo, until a 24-month strategic environmental assessment (SEA) has been concluded. TKAG CEO Jonathan Deal said in an open letter... 

TKAG wants Karoo exploration delayed until conclusion of enviro assessment

Tanzania's gold output rises in 2014, snaps two-year decline

By: Reuters Tanzania's gold output edged up 1.26% in 2014 to 1.27-million ounces, snapping a two-year decline, government data showed on Friday. Tanzania is Africa's fourth-biggest gold producer after South Africa, Ghana and Mali and gold exports are a key source of foreign exchange. Export earnings however... 

Western Australia extends helping hand to Atlas

By: Esmarie Swanepoel The Western Australian government on Friday extended a helping hand to struggling iron-ore miner Atlas, with Mines and Petroleum Minister Bill Marmion announcing that he had extended the government’s royalty assistance programme to the miner. Atlas would receive support in the form of a 50%... 

Western Australia extends helping hand to Atlas

Minister sees plenty of opportunities for METS sector despite mining’s phase shift

By: Esmarie Swanepoel Australia’s mining equipment, technology and services (METS) sector would be vital to increasing the country’s competitive strength, Industry and Science Minister Ian Macfarlane said this week. Speaking at the Austmine conference, in Brisbane, Macfarlane noted that during 2012/13, the METS... 

Zimbabwe's first-quarter gold production up 25%

By: Reuters Zimbabwe's gold production rose 25% to 4 180 kg in the January-March quarter after small gold milling companies increased output, the country's chamber of mines said on Thursday. The chamber projected gold production for the year as a whole of 16 721 kg, up 8.7% from last year. 

From mines to hospitals to mortuaries – yet another use for SA’s Lodox scanner

By: Irma Venter Within a decade conventional invasive autopsies may be a rarity, says head of the Department of Forensic Medicine at the University of Pretoria (UP), Professor Gert Saayman. Instead, pathologists will use imaging technologies to conduct virtual post-mortems. 

 From mines to hospitals to mortuaries – yet another use for SA’s Lodox scanner

First copper from DRC-China deal due by year end – govt

By: Reuters A joint venture between Democratic Republic of Congo's (DRC's) State miner and two Chinese companies, signed under a 2009 "minerals for infrastructure" deal, will begin producing copper before the end of 2015, the DRC's government said on Thursday. Under the deal Chinese companies pledged to... 

Fortescue's Forrest vows to maintain iron-ore campaign

By: Esmarie Swanepoel Chairperson of iron-ore major Fortescue Metals, Andrew Forrest, has vowed to continue with his campaign against multinational companies operating in the Pilbara, despite the government taking a decision not to pursue an inquiry into the iron-ore sector. Treasurer Joe Hockey on Thursday... 

Venturex to sell Pilbara copper/zinc mine for A$14m

By: Esmarie Swanepoel ASX-listed Venturex Resources has executed a conditional term sheet to divest of its Pilbara copper/zinc mine in a transaction worth A$14-million. The transaction would see Venturex divest of its three wholly-owned subsidiaries that hold the Pilbara mine to Orion Mine Finance Group. 

QCLNG declared operational, APA deal approved

By: Esmarie Swanepoel Natural gas major BG Group has taken operational control of Train 1 of the Queensland Curtis liquefied natural gas (QCLNG) project, after the project reached commercial completion. The transfer of operational control of Train 1 marked the start of commercial operations at QCLNG, and followed... 

NUM union wants 84% pay increase for gold workers

By: Reuters South Africa's National Union of Mineworkers (NUM) will push for an 84% rise in basic pay for entry-level gold mining workers, a near 10 percentage-point increase on previous demands, according to documents obtained by Reuters on Thursday. They show that the NUM, which represents 57% of the... 

NUM union wants 84% pay increase for gold workers

Axiom secures A$4m to fund Isabel

By: Esmarie Swanepoel Metals developer Axiom Mining has raised A$4-million through a share placement and a convertible note issue to fund the development of its Isabel nickel project, in the Solomon Islands. The junior reported on Friday that shares had been placed to a number of institutional and high net worth... 

Agnico Eagle takes a 17.4% stake in Belo Sun

By: Henry Lazenby Canadian gold miner Agnico Eagle has acquired a 17.4% stake in Belo Sun Mining, which is developing the Volta Grande project in Para state, Brazil. Belo Sun on Thursday issued 62.5-million common shares to Agnico Eagle at C$0.24 apiece, for proceeds of C$15-million. 

Agnico Eagle takes a 17.4% stake in Belo Sun
Photo by Belo Sun
Drilling at Volta Grande, Brazil.

Teck Resources lifts position in Artha Resources after option termination

By: Henry Lazenby Canadian diversified miner Teck Resources has acquired 1.5-million units of explorer Artha Resources. This followed an April 23 agreement between Artha and Teck's Argentina subsidiary to terminate the Aguilar option agreement, eliminating Artha’s liability of C$696 000 in firm expenditure... 

Trevali lifts equity financing by $10.6m

By: Henry Lazenby Base metals-focused Trevali Mining has increased a bought-deal financing to $30.6-million. The zinc producer had initially engaged Dundee Securities to lead a syndicate of underwriters to buy 19.61-million shares in the company to raise $20-million, but on Thursday announced that it had... 

Botswana defers copper tax to support struggling producers

By: Reuters Botswana will defer for one year the payment of a three percent royalty tax to support copper producers during a period of weak global demand and to avoid job losses, Minerals Minister Kitso Mokaila said on Thursday. Copper producers in Botswana include AIM-listed African Copper and Discovery... 

Ncondezi CEO departs

By: Megan van Wyngaardt Aim-listed coal miner Ncondezi Energy CEO Paul Venter will soon step down from his position, as well as his role as executive director. He will be replaced by the company’s current COO Chris Schutte. Venter’s reason for leaving as well as his date of departure was not divulged. The company also... 

Avocet production down partly owing to strike

By: Megan van Wyngaardt Aim-listed Avocet Mining produced 17 011 oz for the first quarter of the year, at a cash cost of $1 113/oz. This was lower than the company’s fourth quarter 2014 results, when it produced 19 503 oz at a cash cost of $1 052/oz, owing to a number of factors. Ore milling at the company’s Inata mine,... 

How would the JSE approach a possible partial Eskom listing?

By: Terence Creamer Following confirmation that the National Treasury was indeed considering private-investment options for Eskom, as well as an indication from African National Congress (ANC) secretary-general Gwede Mantashe that a “Chinese” model could be considered, which would allow for a portion of the power... 

How would the JSE approach a possible partial Eskom listing?

South32 shares rise on JSE debut

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about South32's listing on the Johannesburg Stock Exchange. 

South32 shares rise on JSE debut

Metalloinvest swings to $177m Q1 net profit

By: Reuters MOSCOW – Russia's biggest iron-ore producer Metalloinvest swung to a net profit of $177-million in the first quarter of 2015, the company reported on Thursday. Metalloinvest, owned by Russia's third richest man Alisher Usmanov, reported a net loss of $542 million dollars for the last three months... 

Afrimat's newer industrial minerals, traditional aggregates continue to perform

By: Megan van Wyngaardt JSE-listed Afrimat has reported a 5.1% increase in revenue to R1.99-billion for the year ended February, while its profit after tax soared by 22.9% to R200-million. On Thursday the openpit mining and materials company advised that, as in the prior year, the group benefited from the strong... 

Afrimat's newer industrial minerals, traditional aggregates continue to perform

Rich world should help emerging countries cut pollution – Glencore's Hayward

By: Reuters Rich countries should help developing countries like India limit their carbon emissions by supporting the building of more expensive but cleaner energy plants, Glencore chairman Tony Hayward said on Thursday. Hayward said that India, where hundreds of millions of people have no access to... 

Rich world should help emerging countries cut pollution – Glencore's Hayward
Photo by Bloomberg
Glencore chairperson Tony Hayward

Glencore's Zambia mining unit completes refinery upgrade

By: Reuters Zambia's Mopani Copper Mines (MCM) owned by Glencore said on Thursday it had completed upgrading a copper refinery at cost of $74-million seven months ahead of schedule. Mopani said in a statement that the completion of the upgrades at the Mufulira refinery located 385 km (239 miles) north of the... 

De Beers inviting bids for life-extending takeover of Kimberley Mines 

By: Martin Creamer South Africa’s De Beers Consolidated Mines (DBCM) on Thursday announced its intention to dispose of its Kimberley Mines as a going concern by competitive tender to a new owner able to extend the life of the historic operations beyond 2018 and preserve 650 jobs in the process. The current... 

De Beers inviting bids for life-extending takeover of Kimberley Mines
Photo by Duane Daws
Phillip Barton

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