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Endeavour board approves Ity CIL expansion in Cote d'Ivoire

By: Henry Lazenby     Updated 2 hours 58 minutes ago West African gold producer Endeavour Mining has given the $412-million Ity carbon-in-leach (CIL) project, in Cote d'Ivoire, the go-ahead, adding about 235 000 oz/y over the first five years to Endeavour’s current production profile of between 600 000 oz and 640 000 oz this year, at lower costs.... 

Endeavour board approves Ity CIL expansion in Cote d'Ivoire
Photo by Endeavour Mining
Endeavour Mining's Ity mine, in Cote d'Ivoire

Tanzania President orders wall built around tanzanite mines, says govt will start buying stones

By: Reuters     Updated 7 hours ago Tanzania's President on Friday ordered the military to build walls around its tanzanite mines and directed the central bank to buy the precious stone to boost reserves – the latest twist in a spat with mining firms over alleged tax evasion. "All tanzanite gemstones will be controlled and will... 

Sibanye-Stillwater announces $450m convertible bond offering

By: Martin Creamer     19th September 2017 Precious metals mining company Sibanye-Stillwater on Tuesday announced the impending launch of a $450-million convertible bond offering linked to the refinancing of the outstanding portion of the bridge loan the company raised to buy Stillwater Mining in the US. The senior unsecured guaranteed... 

Sibanye-Stillwater announces $450m convertible bond offering
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman

BHP says it paid $4.7bn in global taxes

By: Esmarie Swanepoel     20th September 2017 Mining major BHP paid some $4.7-billion in global taxes and royalties in the 2017 financial year, with a further $1.2-billion payable to the Australian government in corporate tax income payments before the end of the calendar year. Australian taxes, royalties and other payments accounted for... 

BHP says it paid $4.7bn in global taxes

GoldMining makes first Peruvian foray

By: Henry Lazenby     20th September 2017 Americas-focused project developer GoldMining Inc is making its first foray into Peru with the 100% acquisition of Crucero gold project, located in south-eastern Peru, from Lupaka Gold. The TSX-V-listed companies have signed a sale agreement providing for total payment of 3.5-million GoldMining... 

Russian nuclear giant joins scramble to supply electric-car boom

By: Bloomberg     20th September 2017 Russia’s State-owned nuclear corporation is joining the lithium rush. After a collapse in the price of uranium, Rosatom Corp. plans to start mining and trading the metal used in batteries as it seeks to profit from the rapid rise of electric vehicles. 

Russian nuclear giant joins scramble to supply electric-car boom

Black Butte advances further – Sandfire

By: Esmarie Swanepoel     20th September 2017 ASX-listed Sandfire Resources has overcome another development hurdle at its Black Butte project, in Montana, after it was issued a draft operating permit for the copper project. The Montana Department of Environmental Quality now considers the project to be "complete and compliant" in... 

More than 120 birds dead at Suncor-owned Canada oil sands mine

By: Reuters     20th September 2017 More than 120 birds in Canada's oil heartland of Alberta were killed after getting caught in a pond of oil sands byproducts operated by the country's largest producer Suncor Energy, the local regulator said on Tuesday. The Alberta Energy Regulator said the animals, waterfowl and songbirds, were... 

Buenaventura eyes $2bn copper project in Peru – chairperson

By: Reuters     20th September 2017 Buenaventura is considering making a bid on a $2-billion copper project in Peru as the precious metal miner's gold production dwindles and copper prices rally, the company's chairperson told Reuters on Tuesday. Speaking at the Perumin industry convention in Arequipa, Peru, Roque Benavides said... 

Rally in zinc price raises spectre of substitution

By: Reuters     19th September 2017 A sharp rally in zinc prices is posing the threat that industrial users will find ways to substitute the metal with cheaper alternatives or use less, curbing overall consumption. High prices may also dampen a nascent move by Chinese automakers to use more zinc for galvanising, while the Western... 

Iron-ore sinks as 'peak steel' call, supply angst rattle market

By: Bloomberg     20th September 2017 Iron-ore has been dragged back into the $60s after getting hit by a barrage of bad news, with persistent concern about rising global supply, fresh questions about the outlook for demand in China, and a warning from Australia’s central bank that the top buyer may be nearing peak steel. The... 

Congo's Gecamines to set new rules on mining proceeds

By: Reuters     19th September 2017 Congo's Gecamines will implement new controls to "hold its partners accountable" in copper and cobalt projects, the state miner said on Tuesday. Gecamines' partners on mining projects include Glencore, China Molybdenum and Ivanhoe. The company said it will initiate discussions with its partners... 

Kinross to invest $820m to tread water on production

By: Bloomberg     20th September 2017 Kinross Gold is spending more than $800-million to essentially tread water as – like many miners – it faces a future in which new gold assets are increasingly difficult to find and costly to develop. The Canadian miner said Monday it will move ahead with expansions at mines in Mauritania and... 

Integra seizes precious metals opportunity in Idaho

By: Henry Lazenby     Updated 21 minutes ago Mere months after Integra Gold was bought out in a deal worth about C$590-million by Eldorado Gold, essentially the same team – reincarnated as Integra Resources – has reached agreement with major Kinross Gold to buy the DeLamar gold/silver mine, in Southern Idaho. The C$7.5-million... 

H1 2017 shows world refined copper deficit of 75 000 t

By: Henry Lazenby     Updated 48 minutes ago The world’s refined copper balance for the first half of 2017 indicates a deficit of around 75 000 t, including revisions to data previously presented, the Lisbon-based International Copper Study Group revealed on Wednesday. This is mainly owing to stagnant growth in the world refined copper... 

Third of Pan African gold from low-cost, low-risk surface tailings 

By: Martin Creamer     Updated 7 hours ago More than a third of the yearly gold production of Pan African Resources is destined to arise from low-cost, low-risk tailings businesses, which have long lives ahead of them. Pan African CEO Cobus Loots told investors, analysts and journalists at the company’s presentation of financial results... 

Pan African Resources CEO Cobus Loots at the financial results presentation covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer 20.09.2017

Brown receives outstanding information on Eskom’s relationship with Gupta-linked Trillian

By: African News Agency      Updated 7 hours ago Public Enterprises Minister Lynne Brown has received answers from Eskom to outstanding questions about its relationship with Trillian, a Gupta-linked company, her office said on Wednesday. “Minister Brown last night received Eskom’s responses to her queries. She noted  progress and Eskom will... 

Stellar Diamonds seeks to fund first post-Ebola mine in Sierra Leone

By: Reuters     Updated 7 hours ago Stellar Diamonds, a London-listed small-cap, is seeking funding for a $45-million diamond project in Sierra Leone it says will be the first major mining project since the Ebola crisis rocked the country's economy. Diamonds and other forms of mining are central to an economy hard hit by the 2015... 

‘Rebasing’ for lower Eskom sales to trigger 9.4% hike even before any revenue adjustment

By: Terence Creamer     20th September 2017 State-owned electricity utility Eskom has sounded that warning that, even if its allowable revenue is not increased at all for the 2018/19 year, tariffs will still need to rise by 9.4% simply to accommodate a “rebasing” electricity sales volumes when compared with those approved in the third... 

‘Rebasing’ for lower Eskom sales to trigger 9.4% hike even before any revenue adjustment

Poland not planning changes in sectoral taxes, VAT for now - deputy PM

By: Reuters     20th September 2017 Poland is currently not planning to introduce changes in sectoral taxes on banks and the mining sector as well as in the value added tax (VAT), Deputy Prime Minister Mateusz Morawiecki said on Wednesday. "For now, we are not planning changes in sectoral taxes. We are also not planning changes... 

Sasol proposes new R21bn BBBEE ownership transaction 

By: Anine Kilian     20th September 2017 JSE-listed Sasol on Wednesday announced a proposed new R21-billion broad-based black economic empowerment (BBBEE) ownership transaction, Sasol Khanyisa, which will replace Sasol’s debt-ridden Sasol Inzalo fund, which expires in June 2018. When Sasol Inzalo lapses, it will not be able to... 

Sasol joint president and CEO Stephen Cornell talks about the lessons learned from the Sasol Inzalo transaction and how the proposed new Sasol Khanyisa transaction will be different. Video and editing: Nicholas Boyd.

Connemara plans further drilling in Donegal

By: Creamer Media Reporter      20th September 2017 Explorer Connemara Mining will initiate further drilling at its Inishowen project as part of its gold exploration programme in Donegal, Ireland. The diamond drilling, which will start on September 25, is aimed at establishing if the gold-bearing veins discovered last year extend across the licence. 

Glencore strikes multi-year purchase deal with Angola LNG

By: Reuters     20th September 2017 Trading house Glencore is to buy liquefied natural gas (LNG) supplies from Angola LNG over a multi-year period, adding to similar recent deals between the producer and traders including Vitol. Angola LNG on Wednesday said the deal was another step toward building its sales book with the most... 

Premier sells forestry interests to focus on lithium, tungsten assets

By: Creamer Media Reporter      20th September 2017 Multicommodity mining and natural resources development company Premier African Minerals will sell its 52% interest in TCT Industrias Florestais (TCT IF), which principally owns a limestone deposit and forestry interests, in Mozambique, to Amire Glory. Aim-listed Premier will retain a 50%... 

Robust intersections support potential to fast-track Portugal lithium project

By: Mariaan Webb     20th September 2017 Aim-quoted Savannah Resources is hard at work to fast-track its Mina do Barroso lithium project, in Portugal, to production, as it seeks to tap into the fast-expanding battery market. Assay results from the first part of a reverse circulation drilling programme at two high-priority targets,... 

Philippine lawmakers defer decision on appointment of environment minister

By: Reuters     20th September 2017 Philippine lawmakers on Wednesday said they would hold more hearings before deciding whether to confirm the appointment of the country's environment minister, although some said they were likely to approve the step. The confirmation of Environment and Natural Resources Secretary Roy Cimatu is... 

Nolans rare earths mine to operate for more than 30 years

By: Esmarie Swanepoel     20th September 2017 Rare earths developer Arafura Resources on Wednesday announced that the mine life at its Nolans rare earths project, in the Northern Territory, could be extended beyond more than 30 years. The company told shareholders that mine planning work undertaken in advance of the definitive feasibility... 

Pan African poised for growth, proposes R185m final dividend

By: Martin Creamer     20th September 2017 Precious metals mining company Pan African, which on Wednesday proposed a R185-million final dividend, reports that it is poised for growth as remedial action regarding its operational challenges in the 12 months to June 30 delivers expected results. The London- and Johannesburg-listed company,... 

Pan African poised for growth, proposes R185m final dividend
Photo by Duane Daws
Pan African CEO Cobus Loots

Ekapa Minerals abandons part of its case against Zama Zama miners

By: News24Wire      20th September 2017 Ekapa Minerals has abandoned part of its interdict against "Zama Zama" miners, calling into question the validity of the entire interdict. GroundUp reports that on September 14, Ekapa Minerals filed a notice which abandoned parts of its interdict against Zama Zama miners in Kimberley. 

W Resources planning new drilling campaign at Tarouca, Portugal

By: Creamer Media Reporter      20th September 2017 Aim-listed W Resources has been granted a two-year licence extension for exploration at Tarouca, near its Régua project, in Portugal, paving the way for a new drilling campaign. Tarouca is about 20 km from Régua and has the potential to enhance and expand the Régua development, W Resources... 

Finders reports strong H1 on Wetar production

By: Esmarie Swanepoel     20th September 2017 Copper miner Finders Resources reported a net profit after tax of A$41.7-million for the six months ended June 30, as its Wetar copper project, in Indonesia, continued to perform well. The company reported a net loss after tax of A$22.2-million in the previous corresponding period. 

Bass raises A$5m for Graphmada buy

By: Esmarie Swanepoel     20th September 2017 Graphite developer Bass Metals will raise up to A$5-million through an institutional placement and entitlement offer to fund the final payment for the acquisition of the Graphmada mine, in Madagascar. The company on Tuesday announced that it would issue up to 227.3-million fully paid ordinary... 

Walkabout welcomes cornerstone investor

By: Esmarie Swanepoel     20th September 2017 Junior graphite developer Walkabout Resources has welcomed Chinese engineering firm Jinpeng Mining and Machinery as a cornerstone investor. Through a $1-million investment, Jinpeng will become Walkabout’s largest investor, holding 10.6% of the company’s shares. 

Tax benefits rejected under new Indian mineral policy

By: Ajoy K Das     20th September 2017 As the Indian government begins work on a new version of the National Mineral Policy (NMP) 2008, the Finance Ministry has said that it will not be possible to incorporate any direct or indirect tax benefits in the new policy document. The Finance Ministry said this week that use of direct and... 

Rockfall kills two miners at Impala Platinum’s Rustenburg mine

By: News24Wire      20th September 2017 Two miners died when a rock fell on their heads while drilling in shaft 12 of Impala Platinum’s Rustenburg mine on Tuesday morning, the mine said. The two men, aged 31 and 34, died at the scene, Impala Platinum spokesperson Johan Theron told News24. 

Two more firms fire KPMG as corporate South Africa weighs links with auditor

By: Reuters     19th September 2017 A South African broker and an energy investment firm fired KPMG on Tuesday, two of a host of local firms weighing whether to ditch the auditor to distance themselves from a scandal involving business friends of President Jacob Zuma. Sasfin and Hulisani, both relatively small financial companies... 

Fuel cell buses expected to spur platinum demand – Implats

By: Martin Creamer     19th September 2017 Buses powered by platinum-catalysed fuel cells are attracting the attention of South Africans, who will visit Germany next month to update themselves on passenger carriers that emit zero pollution into the atmosphere. “There’s a lot of interest in fuel cell buses simply because the refuelling... 

Fuel cell buses expected to spur platinum demand – Implats
Photo by Duane Daws
Impala Platinum (Implats) group executive marketing Paul Finney

Development of Rainbow Rare Earths’ Burundi project advancing on schedule

By: Creamer Media Reporter      19th September 2017 LSE-listed Rainbow Rare Earths has started mining ore from the Gasagwe pit at its Gakara rare earth project, in Burundi. CEO Martin Eales on Tuesday said the company was firmly on track to deliver its first shipment of concentrate from the mine in the fourth quarter of this year. 

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