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SSR confirms near-term production growth at Marigold

By: Mariaan Webb     Updated 1 hour 51 minutes ago Precious metals producer SSR Mining has updated the life-of-mine (LoM) plan for its Marigold operation, which confirms near-term production growth for the gold mine situated in the northern foothills of the Battle mountain range of Nevada. The 3.2-million ounces of gold that the US mine has in... 

SSR confirms near-term production growth at Marigold
Trucks hauling ore at the Marigold mine, in Nevada.

RNC to withdraw $12m from Dumont JV

By: Mariaan Webb     18th June 2018 Diversified miner RNC Minerals on Monday said that it would withdraw $12-million in capital from the Dumont joint venture (JV), in lieu of the debt extension and equity raise that it announced at the end of May. CEO Mark Selby explained in a news release that the cash withdrawal would avoid an... 

PEA completed for South America’s ‘most advanced’ PGM project

By: Creamer Media Reporter      18th June 2018 A preliminary economic assessment (PEA) for the Pedra Branca platinum group metal (PGM) project, in north-eastern Brazil, has confirmed the economic potential of the project, which Aim-listed Jangada Mines says is South America’s largest and most advanced PGMs play. The PEA has assigned a net... 

Minera Alamos looking at low-cost option for Guadalupe

By: Esmarie Swanepoel     Updated 1 hour 29 minutes ago Gold developer Minera Alamos is targeting a low capital cost gold heap leach operation at its Guadalupe de los Reyes gold project, in Mexico, which the company is acquiring for $6-million from Vista Gold through staged payments. CEO Darren Koningen said on Monday that the previous owners had... 

Urban Barry gold camp gold explorers merge

By: Esmarie Swanepoel     Updated 1 hour 47 minutes ago TSX-V-listed junior Bonterra Resources and Metanor Resources have struck a merger agreement to create an advanced Canadian gold exploration and development company. Under the terms of the agreement, Bonterra will acquire all of the issued and outstanding shares in Metanor for C$0.73 in equity... 

Alphamin closes C$19.2m equity financing

By: Creamer Media Reporter      18th June 2018 TSX-V- and AltX-listed Alphamin Resources has raised C$19.2-million through the issue of 76.8-million shares at C$0.25 apiece. As part of the private placement, first announced on May 28, Alphamin CEO Boris Kamstra subscribed for 512 000 shares. 

Group Eleven says Stonepark open towards Glencore’s Pallas Green

By: Mariaan Webb     18th June 2018 The Stonepark zinc deposit in Ireland, which TSX-V-listed Group Eleven owns with Aim-listed Connemara Mining, is likely open towards the neighbouring Pallas Green deposit of mining major Glencore and results from hole drilled in a key area of the resource have returned high-grade results. Hole... 

Group Eleven says Stonepark open towards Glencore’s Pallas Green

GoldMining graduates to TSX

By: Creamer Media Reporter      18th June 2018 Gold-focused minerals explorer GoldMining is expected to delist from the TSX-V on Tuesday, when its shares will start trading on the TSX. Commenting on the company's graduation to the TSX, GoldMining chairperson Amir Adnani said that the new listing would elevate the visibility of the company,... 

Selloff in iron-ore to rubber in China as US trade war widens

By: Reuters     Updated 2 hours 37 minutes ago Prices of commodities from iron ore to rubber tumbled in China on Tuesday, with investor sentiment shaken by an intensifying trade war between Beijing and Washington that could hurt the world's No. 2 economy. The selloff also hit steel, copper, cotton and palm oil, as Chinese investors returned... 

Canadian project generator seeks to expand base metal/gold holdings

By: Creamer Media Reporter      18th June 2018 Mineral exploration project generator Rainy Mountain Royalty, which acquires early stage exploration projects and deliver them drill target ready to joint venture (JV) partners, is considering opportunities outside Canada, the TSX-V-listed company has revealed. In a news release issued on... 

Erris gives update on Centerra-funded exploration JV

By: Creamer Media Reporter      18th June 2018 Canada’s Centerra Resources has elected not to earn into the Klippen project, in Sweden, its joint venture (JV) partner Erris Resources reported on Monday, explaining that drill results had confirmed gold mineralisation, but that the nature of the veining was not indicative of a potentially... 

Red 5 divests of Mt Cattlin royalty

By: Esmarie Swanepoel     18th June 2018 ASX-listed junior Red 5 has entered into an agreement to divest of its royalty entitlement from the Mt Cattlin lithium mine, in Western Australia, to Canadian royalty company Lithium Royalty Corporation (LRC). Red 5 owns the right to receive A$1.50/t of ore processed from the Mt Cattlin mine,... 

Youga mine life extended by 2 years as reserves increase 29%

By: Anine Kilian     Updated 1 minute ago The life of Avesoro Resources’ Youga gold mine, in Burkina Faso, has been extended by two years to 2027, with total forecast production of 614 000 oz. In an updated mineral resource and mineral reserve estimate for the mine, released on Tuesday, the TSX- and Aim-listed company noted that the... 

BHP offers August loading LNG cargo from Australia export plant - sources

By: Reuters     Updated 19 minutes ago Global mining and resources company BHP is offering to sell a liquefied natural gas (LNG) cargo from its North West Shelf export plant in Australia, two trade sources said on Tuesday. The cargo will load over the August 15 to 17 period and is offered on a free-on-board basis, they said. 

Argosy declares maiden resource at Rincon

By: Esmarie Swanepoel     Updated 21 minutes ago ASX-listed Argosy Minerals has reported a maiden inferred mineral resource of 207 957 t of contained lithium carbonate equivalent at its Rincon lithium project, in Argentina. MD Jerko Zuvela said on Tuesday that the resource estimate would support production targets at Rincon, which Argosy was... 

Rio takes Alloy up on Paterson offer

By: Esmarie Swanepoel     Updated 23 minutes ago ASX-listed Alloy Resources has signed a farm-in and joint venture agreement with the exploration arm of major Rio Tinto over an exploration license in the Paterson region of Western Australia. Under the terms of the agreement, Rio Tinto Exploration could earn a 70% interest in the tenement by... 

China marks cobalt, copper ascendancy in Congo with new group

By: Bloomberg     Updated 25 minutes ago More than 30 Chinese companies active in the Democratic Republic of Congo formed a business association backed by both countries’ governments, further cementing China’s ascendancy in copper and cobalt production in the central African nation. The 35-member Union of Mining Companies with Chinese... 

Alicanto tumbles on Barrick exit

By: Esmarie Swanepoel     Updated 25 minutes ago The share price of ASX-listed Alicanto Minerals dropped by more than 20% on Tuesday after Canadian miner Barrick Gold Corporation withdrew from the Arakaka earn-in agreement, in Guyana. Barrick had the option of earning a 65% interest in the project by spending $10-million on the project area,... 

Latin Resources secures funds for lithium expoloration

By: Esmarie Swanepoel     Updated 26 minutes ago Minerals explorer Latin Resources has secured a A$6-million convertible security funding agreement (CSFA) with an optional equity earn-in into the company’s lithium projects in Argentina, with financier Lind Asset Management XII. The funding will include an initial A$2-million, which will be... 

MinRes given tight deadline to improve Atlas bid

By: Esmarie Swanepoel     Updated 28 minutes ago Iron-ore miner Atlas Iron has given suitor Mineral Resources (MinRes) three business days to match the takeover offer Hancock Prospecting put on the table earlier this week. Hancock on Monday revealed a 4.2c a share cash offer for Atlas, in which it already holds a 19.96% interest. 

Asia's thermal coal demand poised to grow

By: Esmarie Swanepoel     Updated 31 minutes ago Asia’s thermal coal demand could increase by some 400-million tonnes by 2030, a new report commissioned by the Minerals Council of Australia (MCA) found. Asian thermal coal demand is expected to grown from the 740-million tonnes in 2017, to 1.147-billion tonnes in 2030. 

Asia's thermal coal demand poised to grow

Europa Metals starts Toral scoping study

By: Creamer Media Reporter      Updated 58 minutes ago Explorer Europa Metals has appointed UK-based Addison Mining Services to conduct an initial scoping study on the Toral lead, zinc and silver project, in Leon, Spain. Addison previously compiled the Toral project's mineral resource estimate, which states that the project has a metal content of... 

Aveng shares leap as M&R moves closer to tie-up

By: Reuters     Updated 59 minutes ago Shareholders in South Africa’s Murray & Roberts voted on Tuesday for the company to look into a potential tie up with construction rival Aveng, sending Aveng's shares around 25% higher. The resolution got the backing of 52.06% of votes at the Murray & Roberts' (M&R) annual shareholder meeting. 

Aveng shares leap as M&R moves closer to tie-up
Photo by Creamer Media
M&R CEO Henry Laas

Cobalt stocks in China set for new surge as EV boom rolls on

By: Bloomberg     Updated 1 hour 25 minutes ago A slump in cobalt prices and the shares of Chinese refiners may provide an ideal bargain-hunting opportunity for investors seeking a piece of the action as Asia’s top economy leads a global boom in electric vehicles. Cobalt sulfate, a chemical used in batteries, has dropped more than 20% since... 

ATON welcomes tribunal’s M&R voting-rights ruling, despite restrictions

By: Terence Creamer     18th June 2018 Investment company ATON, which is seeking to acquire Murray & Roberts (M&R), has welcomed a Competition Tribunal ruling opening the way for it to vote all its shares at a general meeting at which M&R shareholders will vote on the merits of a proposed transaction with Aveng. The meeting is... 

ATON welcomes tribunal’s M&R voting-rights ruling, despite restrictions

CAR struggling to resume diamond exports, tax revenue lags

By: Reuters     18th June 2018 Despite a partial lifting of a ban on its diamond exports, the Central African Republic (CAR) is struggling to restore sales and seeing only a fraction of the tax revenue it once did, its mining minister said in an interview. As a member of the 81-nation Kimberley Process which certifies ethical... 

Tshipi may distribute R1.5bn to shareholders in Sept

By: Creamer Media Reporter      18th June 2018 Tshipi é Ntle Manganese Mining, in which ASX-listed Jupiter Mines owns a 49.9% stake and which operates the Tshipi Borwa mine, expects to distribute R1.5-billion to its shareholders in September. In an update on Monday, Jupiter said Tshipi’s operations continue to exceed plan with annualised... 

Lucapa, partners sell another $2m of Lulo diamonds

By: Creamer Media Reporter      18th June 2018 ASX-listed Lucapa Diamond Company and its partners Empresa Nacional de Diamantes (Endiama) and Rosas & Petalas have completed a further sale of 1 782 ct of alluvial diamonds from the Lulo project, in Angola. The parcel achieved gross sale proceeds of $2-million, or A$2.7-million, representing an... 

Charter in current form will not promote investment, growth – MCSA

By: Simone Liedtke     18th June 2018 The Minerals Council South Africa (MCSA) believes that while the draft Mining Charter 2018 is a material improvement on the 2017 iteration, much more work needs to be done to create a Mining Charter that promotes competitiveness, investment, growth and transformation for the growth and prosperity... 

Charter in current form will not promote investment, growth – MCSA
Mineral Resources Minister Gwede Mantashe

Correction: Independence Group nine-month output

18th June 2018 Diversified metals miner Independence Group has delivered 14 914 t of nickel in concentrate, 6 315 t of copper in concentrate and 490 t of cobalt in concentrate in the nine months to March. Mining Weekly incorrectly stated on June 14 that the nine-month production was the full-year guidance. 

Arc buys a further 6% stake in Zamsort

By: Creamer Media Reporter      18th June 2018 Aim-listed Arc Minerals has acquired a further 6% interest in Zamsort, which is developing a copper/cobalt project in Zambia, from two separate shareholders. It now holds a 61% interest in Zamsort. 

Rio spending $2.2bn on iron-ore supply

By: Esmarie Swanepoel     18th June 2018 Diversified miner Rio Tinto on Monday revealed that it will be spending some $2.2-billion over the next three years on replacement mines for its iron-ore operations in the Pilbara, including initial spending on the proposed Koodaideri, West Angelas and Robe Valley developments. Rio’s iron-ore... 

Senex and Jemena strike deal to fast-track project for east coast gas supply

By: Esmarie Swanepoel     18th June 2018 ASX-listed Senex Energy has struck an agreement with infrastructure operator Jemena to partner on the accelerated development of Project Atlas, in Queensland, to deliver first gas to the domestic market by late 2019. Under the agreement, Jemena will build, own and operate a gas processing... 

High Court lifts interim order against MC Mining's Makhado project

By: African News Agency      18th June 2018 MC Mining, previously known as Coal of Africa, on Monday said it welcomed a high court decision to lift an interim order against the company's environmental authorisation for the Makhado hard coking and thermal coal project. The court had in 2014 granted the Vhembe Mineral Stakeholders Forum and... 

India is said to plan to sell a stake in State-run coal miner

By: Bloomberg     18th June 2018 Prime Minister Narendra Modi’s administration is planning to offload a stake in State-run Coal India to speed asset sales after a disastrous attempt to find a buyer for the cash-strapped national airline, people with knowledge of the matter said. The Department of Investment and Public Asset... 

New copper reserves established in India

By: Ajoy K Das     18th June 2018 The Geological Survey of India (GSI) has established indicative reserves of copper in central Indian province of Chhattisgarh. The discovered copper reserves, spread across an estimated 25 km2, will be taken up for detailed exploration by Chhattisgarh Copper Limited (CCL) the recently floated... 

Mines chief inspector compiling report on Sibanye-Stillwater accidents – Mantashe

By: African News Agency      18th June 2018 The acting chief inspector of mines is compiling a report on all accidents that occurred at Sibanye-Stillwater mining operations since the beginning of this year, Mineral Resources Minister Gwede Mantashe said on Sunday. "This will enable us to take appropriate action, guided by the Mine Health... 

Australia's Port Kembla reopens after cargo ship blaze

By: Reuters     18th June 2018 A fire in the hold of a bulker ship on Monday briefly closed Australia's Port Kembla, the second-largest coal export port in New South Wales state, stopping shipping for eight hours. The port was shut soon after the blaze began before dawn on the MV Iron Chieftain as it unloaded dolomite, a... 

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