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Gensource project development secured as formal offtake accord is signed

By: Henry Lazenby     19th May 2018 The development of Gensource Potash’s first 250 000 t/y production module at its Vanguard project, in Saskatchewan, is another step closer to realisation after the company announced on Friday that it has signed a definitive offtake agreement with a major North American agriculture industry... 

Gensource project development secured as formal offtake accord is signed

Sibanye CEO confident of Lonmin takeover despite cash burn

By: Reuters     18th May 2018 Sibanye-Stillwater is confident its planned purchase of Lonmin will go ahead, but the struggling platinum producer must slow its cash burn, the South African firm's chief executive said. Sibanye's £285-million all-share bid to create the world's second largest platinum miner faces hurdles... 

Sibanye CEO confident of Lonmin takeover despite cash burn
Photo by Creamer Media
Sibanye-stillwater CEO Neal Froneman

WA signs co-op agreement with Argentina

By: Esmarie Swanepoel     18th May 2018 The Western Australian government has signed an agreement with the government of Argentina to build a stronger mining and resource relationship between the two regions. Mines and Petroleum Minister Bill Johnston said the Memorandum of Understanding (MoU) will help develop a mutually rewarding... 

Young, bridal jewellery consumers to drive platinum demand

By: Nadine James     18th May 2018 Young, bridal and self-purchasing jewellery consumers are emerging to contribute to platinum demand growth this year, the Platinum Guild International (PGI) reports. In its ‘2017 Platinum Jewellery Business Review’, the PGI found strong consumer retail sales growth in the US, Japan and India for... 

Talaxis to acquire up to 75% of Mkango’s Songwe project

By: Nadine James     18th May 2018 Noble Group subsidiary Talaxis has entered into definitive agreements with Mkango Resources to acquire up to a 75% interest in Mkango’s Lancaster Exploration subsidiary, as well as a 49% stake in its downstream metals division Maginito Investments. In January, Talaxis paid Mkango £5-million in... 

Yamana pours first gold at Cerro Moro

By: Henry Lazenby     18th May 2018 Canadian gold producer Yamana Gold announced this week that it has poured the first gold and silver doré at its Cerro Moro project, in Argentina. The operation started feeding ore to the 1 000 t/d processing plant in April, and is expected to ramp up to commercial production over the second... 

Zimbabwe lithium excites but projects face funding hurdle

By: Reuters     18th May 2018 Zimbabwe has a small window of up to 24 months to start producing battery grade lithium and ride the wave of high prices, miners said on Thursday, but the country's high political risk made financing projects difficult. Since the fall of Robert Mugabe after a de facto military coup last November,... 

Mining Weekly iPhone and Android Apps available for free download 

18th May 2018 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Goldstone renews Ghana prospecting licences

By: Nadine James     18th May 2018 The prospecting licences for Goldstone Resources’ Homase-Akrokeri project, in Ghana, have been extended to April 2020. Goldstone CEO Emma Priestley noted that the company was pleased to have received these renewals, and especially for an extended period. 

Glencore said to face UK bribery probe over Congo dealings

By: Bloomberg     18th May 2018 The UK’s white-collar crime prosecutor is preparing to open a formal bribery investigation into Glencore and its work with Israeli billionaire Dan Gertler and the leader of Democratic Republic of Congo (DRC), according to two people with knowledge of the matter. Investigators at the Serious Fraud... 

Konkola CEO to head up new antimony and gold plant in Oman

By: Creamer Media Reporter      18th May 2018 The CEO of Vedanta-controlled Konkola Copper Mines, Steven Din, will join Strategic and Precious Metals Processing (SPMP) as CEO on August 1. He will lead SPMP’s new Oman antimony and gold processing facility, which is coming into production. 

Petropavlovsk’s largest shareholder says where he will vote in board shakeup

By: Mariaan Webb     18th May 2018 London-listed Petropavlovsk’s largest shareholder, Fincraft, is expected to vote in favour of the resolutions in the requisition notice issued by two shareholders seeking a boardroom shakeup. Kenges Rakishev, the beneficial owner of Fincraft, has indicated to Petropavlovsk that he will vote in... 

M&R hopes to convince ATON of commercial merits of Aveng tie-up

By: Terence Creamer     18th May 2018 Murray & Roberts (M&R) CEO Henry Laas says he will make every effort to convince its largest shareholder ATON – the German family-owned business, which owns 39% of the company and which has made a firm offer to acquire majority control of the South African engineering and construction group – of... 

M&R hopes to convince ATON of commercial merits of Aveng tie-up
Photo by Creamer Media
M&R CEO Henry Laas

Zimbabwe mines need $11bn investment to modernise

By: Reuters     18th May 2018 Zimbabwe needs up to $11-billion to modernise its mines and boost production to maximum capacity over the next five years, the head of the country's Chamber of Mines said on Friday. Foreign investor interest in the southern African nation is growing after the fall of longtime leader Robert Mugabe... 

Hwange suspends MD

By: Nadine James     18th May 2018 Zimbabwean coal miner Hwange Colliery on Friday announced that it had suspended its MD Stenjwa Thomas Makore with effect from May 14, pending a disciplinary hearing. During his suspension, Makore is not authorised to transact or conduct any business on behalf of the company. 

Manas to farm-in on African gold project

By: Esmarie Swanepoel     18th May 2018 ASX-listed Manas Resources has signed an earn-in agreement with Perseus Mining to acquire a 70% interest in the Mbengue gold project, in Cote d’Ivoire. Manas has committed to an initial $300 000 of exploration expenditure in the first six months of the earn-in, to allow for further evaluation of... 

Lucapa's Lulo delivers up more diamonds for sale

By: Esmarie Swanepoel     18th May 2018 Diamond miner Lucapa Diamond Company has generated a further A$4-million in sales from a parcel of 1 632 ct of diamonds from its Lulo project, in Angola. The miner said on Friday that the parcel did not include the gem quality 46 ct pink diamond or other large special diamonds recently recovered... 

Centrex gets offtake interest at Ardmore

By: Esmarie Swanepoel     18th May 2018 ASX-listed junior Centrex Metals has signed a non-binding Memorandum of Understanding (MoU) for 300 000 t of phosphate rock offtake from its Ardmore project, in Queensland. The MoU, with Gujarat State Fertilisers and Chemicals (GSFC), would see the two companies negotiate the terms of a... 

KGL adds volumes at Jervois

By: Esmarie Swanepoel     18th May 2018 ASX-listed KGL Resources has reported an 18% increase in copper volumes at its Jervois project, in the Northern Territory, on the back of exploration. Total contained copper for the total project area has increased by 18%, to 384 800 t, with the overall grade increasing by 43%, to 1.53% copper. 

Australia’s MCA welcomes gold report

By: Esmarie Swanepoel     18th May 2018 The Minerals Council of Australia (MCA) has welcomed a new report by the World Gold Council (WGC), which states that gold will continue to be valued over the next 30 years, with new uses for gold meaning new opportunities for producers. “New uses for gold including in antibiotics, smartphones... 

Fundraising completed for Scottish Highlands gold mine

By: Mariaan Webb     18th May 2018 Aim-listed Scotgold Resources has raised £9-million through a combination of equity and secured debt, which, together with existing cash reserves, will be sufficient to build the Cononish gold mine, in the Scottish Highlands. The company raised £4-million in an oversubscribed placing of 14 545... 

Fundraising completed for Scottish Highlands gold mine
The Cononish gold mine

Rio gets accreditation for AutoHaul

By: Esmarie Swanepoel     18th May 2018 Mining major Rio Tinto has been granted accreditation by the Australian Office of the National Rail Safety Regulator, approving its autonomous operation of trains at its iron-ore operations, in Western Australia. Rio implemented autonomous trains at its Pilbara operations in the first quarter of... 

Independence takes greater stake in Orion

By: Esmarie Swanepoel     18th May 2018 Diversified metals miner Independence Group has taken a bigger stake in South Africa-focused explorer Orion Minerals, increasing its shareholding from 4.2% to 11.1%. Independence will subscribe for A$5-million worth of Orion shares, priced at 5c each, with the two companies also entering into a... 

Nyrstar and South Australia disagree on loan repayment

By: Esmarie Swanepoel     18th May 2018 Belgium-based mining and metals group Nyrstar has maintained that it was within its legal rights to defer repayments on a loan to upgrade the Port Pirie smelter, after South Australian Treasurer Rob Lucas threatened the company with legal action. The redeveloped Port Pirie smelter was opened in... 

Nyrstar and South Australia disagree on loan repayment

This week's headlines unpacked 

18th May 2018 This week, short spell of mining hope dashed, consolidation is needed to save jobs and South African mining must negotiate the many turning points and deciding moments confronting it. Mining Weekly editor Martin Creamer unpacks the headlines this week.   

This week's headlines unpacked

Eritrea 'poison pill' complicates miner Lundin's aspirations – sources

By: Reuters     18th May 2018 The weak human rights record of one of Africa's poorest countries is coming between Lundin Mining Corp and its pursuit of a prized European copper and gold asset. Cash-rich Lundin's latest run at fellow Canadian miner Nevsun Resources is designed to bag the Timok project in Serbia, but it had to... 

Learning opportunity on mining training’s competitive edge 

By: Martin Creamer     18th May 2018 The objective of the impressive Murray & Roberts Training Academy in Carletonville is to make mining workplaces safer, more productive, technically proficient and values driven. 

Murray and Roberts Cementation director Allan Widlake and ETD executive Tony Pretorius talk to Mining Weekly's Martin Creamer at the company's training academy in Carletonville. Video and Video Editing: Nichols Boyd.

Centerra sells royalty portfolio, Kemess silver stream for $200m

By: Henry Lazenby     17th May 2018 Canadian gold miner Centerra Gold has agreed to sell its royalty portfolio and silver stream on the Kemess project, in British Columbia, to Triple Flag Mining Finance Bermuda for $200-million. The royalty sale comprises the sale of subsidiary AuRico Metals’ (AMI’s) royalty portfolio, together... 

Semafo hits 97% completion at Boungou, expects first gold by June

By: Henry Lazenby     17th May 2018 Montreal-based miner Semafo reports that construction of its $231-million Boungou mine, in Burkina Faso, is 97% complete. Commissioning of the process plant is under way, with the first ore scheduled to be introduced to the mill circuit by month-end, the West Africa-focused miner said on Thursday. 

Argonaut appeals La Colorada explosives suspension, reports hearing delay

By: Henry Lazenby     17th May 2018 The TSX-listed equity of gold producer Argonaut Gold traded lower on Thursday after it announced that it has appealed an April Mexican court decision that suspended its explosives permit for the La Colorada mine. The company has appealed the original Judiciary Court decision to temporarily... 

Tianqi Lithium picks up minority SQM stake for $4.07bn

By: Henry Lazenby     17th May 2018 Lithium producer Tianqi Lithium has secured a 24% stake in Sociedad Quimica y Minera de Chile (SQM) from crop nutrient producer and distributor Nutrien, for $4.07-billion. Nutrien's sale of its SQM holdings was required by the Competition Commission of India and Ministry of Commerce in China... 

Tianqi Lithium picks up minority SQM stake for $4.07bn

Russia's Alrosa may buy diamond polisher Kristall in 2018 - Finance Ministry

By: Reuters     17th May 2018 Russian diamond miner Alrosa may buy State-owned diamond polisher Kristall in 2018, Russia's Deputy Finance Minister Alexei Moiseev said on Thursday. Alrosa, the world's largest rough diamond producer by output, said previously it was "expedient" for it to buy Kristall when the state-owned... 

Buffalo reports mixed Q1 performance

By: Simone Liedtke     17th May 2018 Buffalo Coal’s run-of-mine (RoM) production for the quarter ended March 31 decreased by 26% year-on-year and by 9% quarter-on-quarter, as a result of lower output at the Magdalena mine, offset by marginally improved production at the Aviemore mine. Aviemore’s RoM production increased by 17%... 

Contrasting performances for Sub-Saharan African, European miners – BMI

By: Simone Liedtke     17th May 2018 Europe and sub-Saharan Africa are on opposite ends of BMI Research’s Mining Risk and Reward Index (RRI), as can be seen with Europe’s significantly stronger performance in country and industry risk indicators, while sub-Saharan Africa continues to lag in country reward scores. The country reward... 

Diamond jewellery demand at all-time high – De Beers

By: Simone Liedtke     17th May 2018 Global consumer demand for diamond jewellery hit a new all-time high in 2017, climbing to $82-billion, a 2% increase on the previous year, according to industry insight data published by De Beers on Thursday. The US was the main driver of growth for the fourth consecutive year, where positive... 

Diamond jewellery demand at all-time high – De Beers
Photo by Darlene Creamer
De Beers CEO Bruce Cleaver

China's Jinchuan to double African copper, cobalt output – exec

By: Reuters     17th May 2018 China's Jinchuan Group International Resources plans to double its African copper and cobalt production in the next two to three years, its CEO said on Thursday. The company currently produces around 50 000 tonnes of copper and 5 000 tonnes of cobalt a year, Gao Tianpeng said at the LME Asia Week... 

Congo billionaire seeks French loan to develop iron-ore railway

By: Bloomberg     17th May 2018 Paul Obambi, a billionaire investor in the Congo Republic, is in talks with French lenders to fund a railway he’s building to export iron-ore. Obambi’s company Sapro SA is negotiating with “a consortium of banks” to finance the 450-km track that will link the southwestern town of Mayoko to a... 

Avesoro to update New Liberty reserve estimate in Q3

By: Simone Liedtke     17th May 2018 Avesoro Resources will update the market with an increased resource and reserve estimate for its New Liberty mine, in Liberia,  in the third quarter. This follows the completion of a 19 500 m 55-hole infill drilling programme undertaken in the first quarter of the year. The programme was aimed at... 

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