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BHP Billiton’s demerging Newco heading for May vote

By: Martin Creamer The demerging of a selection of BHP Billiton assets into a separate new company (Newco) was going according to plan and heading for a May vote, Newco CEO-elect Graham Kerr said on Monday. Responding to Mining Weekly Online during question time at a media conference on BHP Billiton selling its... 

BHP Billiton’s demerging Newco heading for May vote
Photo by Duane Daws
Graham Kerr with Lucas Msimanga and Sizwe Khumalo

Paladin embarks on sweeping recapitalisation exercise

By: Natalie Greve Uranium producer Paladin Energy has announced a throng of measures aimed at recapitalising the company and addressing its long-term funding requirements, including the convertible bonds due in November next year. Following these and other initiatives, which were due to be implemented in early... 

Final stage lithium extraction pilot plant at Cauchari-Olaroz to be inaugurated next month

By: Leandi Kolver TSX-listed Lithium Americas on Monday announced that the formal inauguration of the final stage Posco lithium extraction pilot plant at its Cauchari-Olaroz lithium project in Jujuy, Argentina, was expected to take place next month. Lithium Americas and Korean steel company Posco signed a... 

Kipushi drilling programme indicates high-grade resources – Ivanhoe

By: Leandi Kolver High-grade silver, zinc and copper drill intercepts have been reported in the third batch of assay results from Africa-focused project developer Ivanhoe Mines’ underground diamond-drilling programme at its Kipushi copper/zinc/germanium/lead/precious metals mine, in the Democratic Republic of... 

BHP Billiton looks to further cut costs

By: Esmarie Swanepoel Mining giant BHP Billiton has widened its productivity gains expectations by a further $500-million between now and 2017. In October, the miner announced that it was targeting productivity gains of at least $3.5-billion a year by the 2017 financial year, with CEO Andrew Mackenzie saying at the... 

BHP Billiton looks to further cut costs

Major shake-up of BHP management as demerger advances

By: Esmarie Swanepoel Mining giant BHP Billiton on Monday announced a major management reshuffle as it advanced with the demerger of its noncore assets. BHP earlier this year announced the demerger of the aluminium, nickel, manganese and silver assets. Its focus will remain on its iron-ore, coal, petroleum, copper... 

Burkina Faso gold project sold to Alecto

By: Leandi Kolver TSX-V-listed Kaizen Discovery on Monday announced that it had completed the sale of its Kerboulé gold project, in Burkina Faso, to Alecto Minerals. Kaizer had received 55-million common shares in Alecto as part of the sales consideration. 

Attila to sell 70% Kodiak stake to Magni

By: Esmarie Swanepoel Coal hopeful Attila Resources on Monday announced that it would sell its 70% interest in the Kodiak coking coal project, in the US, for $55.3-million to US-based Magni Resources. Attila revealed to shareholders that it had received a confidential, unsolicited expression of interest from Magni in... 

Centaurus hopeful at Candonga West

By: Esmarie Swanepoel A recent ground magnetic survey has proven positive for metals developer Centaurus Metals, with the company saying on Monday that it had confirmed the potential for high-grade direct shipping ore (DSO) at the recently acquired Candonga West project, in Brazil. Centaurus acquired the Candonga... 

Treasury Metals secures second $3m tranche of RMB loan

By: Natalie Greve Having satisfied all conditions precedent, Toronto-listed Treasury Metals has ensured RMB Resources’ continued funding of the company's Goliath gold project, in Northwestern Ontario. The conditions related to the second tranche, which provided the company the ability to access an additional... 

Creamer Media publishes Coal 2014: A review of South Africa's coal sector research report

Creamer Media’s Coal 2014 report examines South Africa’s coal industry amid the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the market, as well as various issues... 

Creamer Media publishes Coal 2014: A review of South Africa's coal sector research report

BHP Billiton signs R10bn aluminium supply deal with black consortium

By: Martin Creamer The world’s biggest mining company BHP Billiton has agreed a R10-billion, five-year liquid metal supply contract with a black-controlled consortium in a transaction that gives the South African aluminium industry a shot in the arm. The diversified major, which is in the process of demerging its... 

BHP Billiton signs R10bn aluminium supply deal with black consortium
Photo by Duane Daws
Graham Kerr with Lucas Msimanga, Sizwe Khumalo, Zodwa Manase and David Austin

‘Undervalued’ Lemur to buy back shares

By: Natalie Greve Noting that it did not believe its current share price reflected the “strong” underlying cash position and value within the company’s assets, Lemur Resources has outlined plans to implement an on-market buyback for up to 10% of its issued capital over the next 12 months. The Sydney-listed company... 

Portfolio committee to consult steel-, mineworkers on minimum wage

By: Leandi Kolver The Parliamentary Portfolio Committee on Labour would, this week, interact with steel- and mineworkers on the national minimum wage during the second leg of its public hearing process. The first leg of hearings took place in the Western Cape earlier this month where farmworkers and domestic... 

Portfolio committee to consult steel-, mineworkers on minimum wage

First set of Rukwa coal sampling and testwork results positive

By: Leandi Kolver African coal explorer Edenville Energy on Monday announced positive results from the first set of detailed coal sampling and test work at its Rukwa coal project’s Namwele deposit, in western Tanzania, indicating that the deposit had the potential to provide significantly higher quality coal and a... 

Botswana Diamonds to drive exploration amid ‘oligopolistic’ industry

By: Natalie Greve Botswana Diamonds’ focus will remain on discovering new sources of diamonds in the Southern African State despite potentially volatile market prices and an oligopolistic industry dominated by Alrosa, De Beers, Rio Tinto and Dominion Diamonds. Chairperson John Teeling outlined in a preliminary... 

Botswana still vulnerable to shifts in diamond market – Cutifani

By: Anine Vermeulen There had long been a desire to diversify Botswana's economy beyond its dependence on diamond mining and although some progress had been made in achieving this goal, the country remained vulnerable to shifts in the global diamond market, diversified mining major Anglo American CEO Mark Cutifani... 

Botswana still vulnerable to shifts in diamond market – Cutifani
Anglo American CEO Mark Cutifani

Ntsimbintle targeting additional 800 000 t/y project

By: Leandi Kolver Broad-based black economic-empowered company Ntsimbintle Mining was targeting the development of a new 800 000 t/y manganese mine, in the central-northern part of the Kalahari basin, in the Northern Cape, Ntsimbintle director Justin Pitt has revealed. Speaking to Mining Weekly Online at a... 

Barminco wins mining contract at MMG's Rosebery

By: Esmarie Swanepoel Mining contractor Barminco Holdings has won a A$110-million contract from miner MMG to conduct jumbo development services at the Rosebery polymetalllic base metals mine, in Tasmania. The contract would have an initial three-year term but could be extended for a further two years. 

India’s RCFL seeks to float overseas arm to secure rock phosphate mining assets

By: Ajoy K Das Indian government-owned and -managed Rashtriya Chemicals and Fertilizers Limited (RCFL) is considering floating an independent subsidiary for acquiring fertiliser mineral assets and investing in joint ventures (JVs) overseas. Jordan, which exports about 65% of its yearly phosphatic fertiliser... 

IFM to appear in court in relation to Section 54 notice

By: Leandi Kolver International Ferro Metals (IFM) would on Monday appear in court in relation to a claim by the Department of Mineral Resources (DMR) that the ferrochrome producer had not met all the requirements of a Section 54 notice issued to it last week. IFM said it had suspended production at its two... 

BHP to spend $200m on Olympic Dam debottlenecking

By: Esmarie Swanepoel Diversified major BHP Billiton would invest about $200-million in its Olympic Dam operation, in South Australia, as part of its debottlenecking efforts, and would accelerate long-term drilling plans and mine development. CFO Peter Beaven said on Monday that it was hoped the debottlenecking... 

Teck appoints two to board

By: Creamer Media Reporter TSX-listed Teck Resources has appointed Laura Dottori-Attanasio and Tracey McVicar to its board, with immediate effect. Dottori-Attanasio has over 20 years of senior and high profile leadership experience in the finance sector, with significant exposure to the mining industry. She is senior... 

Levin says will meet CFTC to discuss scope of LME oversight

By: Reuters US Senator Carl Levin plans to meet with the US commodities regulator to discuss the scope of its oversight of the London Metal Exchange, the world's biggest and oldest metal market, in the United States, he told reporters on Friday. His comments came at the end of a two-day hearing of his... 

MetroCoal names new CEO post Cape Alumina gobble

By: Esmarie Swanepoel ASX-listed MetroCoal on Monday announced the appointment of Simon Finnis as the new CEO, effective from January 12. Finnis would replace CEO Mike O’Brien, who will continue on as project director.  

Worker killed at Jaguar Mining’s Turmalina mine

By: Creamer Media Reporter An employee was killed at TSX- and NYSE-listed Jaguar Mining’s Turmalina mine, in Minas Gerais, Brazil, on Friday. The incident occurred in the underground workings of the Turmalina mine. 

Liontown shares tumble as it abandons Tanzania project

By: Esmarie Swanepoel The share price of junior Liontown Resource dropped by nearly 31% on Monday on news that the company had opted out of the Ibaga copper/zinc project, in Tanzania. Liontown had previously entered into two option agreements giving the company the right to acquire 100% of the Igaba project. 

A1 buys Octagonal gold project

By: Esmarie Swanepoel ASX-listed junior A1 Consolidated Gold has inked an agreement with fellow-listed Octagonal Resources to acquire the Maldon gold project, in Victoria. In exchange for the project, Octagonal would receive A$5.1-million in A1 Gold shares, with the shares priced at 3c each, as well as 1:3 listed A1... 

Cameco not eager for sales contracts at current prices – CEO

By: Reuters Canadian miner Cameco Corp is not interested in signing long-term uranium sales contracts at current prices, and utilities who buy the radioactive material to power nuclear reactors are also cautious, CE Tim Gitzel said on Friday. Gitzel said despite the recent bounce in uranium prices, Cameco... 

Mining investment in Oz to decline by 40%

By: Esmarie Swanepoel Investment into Australia’s resources sector would decline by about 40% over the next four years, economic forecaster and industry analyst BIS Shrapnel reported on Monday. “In terms of the mining investment bust, we have hardly begun – this has a long way to run,” said BIS Shrapnel’s... 

First phase of Dingleton relocation project under way

By: David D‘ Oliveira The first phase of Kumba Iron Ore’s relocation of the Dingleton community in the Northern Cape officially got under way this week with the first households moved into their new homes in Kathu. The R4.2-billion relocation project was an important element of Kumba’s Sishen Mine’s western expansion,... 

Beacon Hill restructuring talks ongoing

By: Natalie Greve Responding to a jump in its share price, Beacon Hill reiterated on Friday that it remained in advanced negotiations with an unnamed development finance institution in relation to a new senior debt facility. The commodity producer’s shares on the LSE were trading up 5.8% to 0.09p on Friday... 

Kibo to restart uranium activities

By: Natasha Odendaal Dual-listed Kibo Mining is set to develop its currently idled uranium assets, in Tanzania, through a 50:50 joint venture (JV) partnership with Metal Tiger. The binding memorandum of understanding (MoU) inked this week with Aim-listed Metal Tiger would allow Kibo to pull the Pinewood portfolio out... 

Nevsun denies Bisha human rights allegations in lawsuit

By: Creamer Media Reporter A lawsuit has been filed against Vancouver-based mining company Nevsun Resources in the British Columbia Supreme Court by three individuals who claim to have once worked with a local subcontractor at the Bisha mine, in Eritrea, on the Horn of Africa. The TSX-listed company said on Friday that the... 

Nevsun denies Bisha human rights allegations in lawsuit

Five mineral value-chains prioritised in South Africa’s draft beneficiation plan 

By: Terence Creamer The Mineral Beneficiation Action Plan (MBAP), which is currently in draft form, should be finalised by the end of March 2015, the Department of Trade and Industry (DTI) has confirmed. The department is leading the drafting process, which also involves the National Treasury, the Economic... 

Five mineral value-chains prioritised in South Africa’s draft beneficiation plan
Photo by Duane Daws
Steel among the five resource value-chains being prioritised

Section 54 stoppages at Pan African to dent Nov output

By: Natalie Greve The issuing of two separate Section 54 notices at Pan African Resources’ Mpumalanga-based mines by the Department of Mineral Resources’ Mine Health and Safety Inspectorate (MHSI) this month is set to negatively impact gold production from the Barberton and Evander operations, the company said on... 

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