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Coeur buys Alio Gold's ‘noncore’ Nevada assets for $19m

By: Mariaan Webb     16th October 2018 NYSE-listed Coeur Mining is expanding its footprint in Nevada, announcing on Tuesday that it would buy a property package adjacent to its Rochester operation from Alio Gold, which deemed the Lincoln Hill, Wilco and Gold Ridge projects as noncore. In terms of a definitive agreement, Coeur Mining... 

Coeur buys Alio Gold's ‘noncore’ Nevada assets for $19m
Coeur has expanded its land position at Rochester (pictured) to about 16 300 ha.

Ramp-up for Anglo American's Minas Rio mine likely delayed to 2021

By: Reuters     16th October 2018 Anglo American should restart operations at its Brazilian Minas Rio iron ore mine in November or December but a planned ramp-up to 26.5-million tonnes per year is likely to be pushed back to 2021 from 2020 as previously expected, the miner's Brazil chief said on Tuesday. The company halted... 

Ramp-up for Anglo American's Minas Rio mine likely delayed to 2021

Second activist targets Canadian miner Detour; seeks board changes

By: Reuters     16th October 2018 US hedge fund Livermore Partners is calling for an overhaul of the board at Detour Gold Corp and a strategic review, becoming the second activist to target the Canadian mining company. Livermore, which has engaged in other activist campaigns including at Canadian and UK media firm Entertainment... 

Freeport CEO may be ready to sell, but does anyone want to buy?

By: Bloomberg     Updated 23 minutes ago Freeport-McMoRan’s annual LME Week party is usually an opportunity for CEO Richard Adkerson to hobnob with the traders and consumers who buy copper from his mining company. At this year’s event, he was surrounded by investment bankers. With its biggest stock overhang – a deal around its... 

 Freeport CEO may be ready to sell, but does anyone want to buy?
Richard Adkerson

Samarco could begin partial production in 2020 after dam burst – Vale CEO

By: Reuters     Updated 18 minutes ago Samarco, a joint mining venture between Brazil's Vale and BHP Billiton, could resume production at a third of its capacity at the beginning of 2020, Vale's CEO said on Tuesday. Samarco halted operations in late 2015 after one of its dams collapsed, killing 19 people and causing one of Brazil's... 

Chile's State copper firm outlines lifeline plan for Salvador mine

By: Reuters     Updated 27 minutes ago Chile's State copper miner, Codelco, has submitted an environmental impact assessment of its plans to overhaul its aging Salvador deposit that would sharply increase its production and extend its life by 40 years. The Rajo Inca project would convert the existing mine, which has been in operation... 

Zambian power firm CEC divests from telecoms business

By: Reuters     Updated 19 minutes ago Copperbelt Energy Corp (CEC) has sold its 50% stake in CEC Liquid Telecom to Pan-African telecoms group Liquid Telecommunication Holdings, the power firm said on Tuesday. CEC, Zambia's main supplier of power for its mines, and Liquid Telecom were equal partners in the joint telecoms firm since... 

Calls for greater transformation in the energy industry 

By: Kim Cloete     16th October 2018 Calls for greater participation by black professionals in the energy industry were made during public hearings into the Integrated Resources Plan (IRP), held at Parliament, on Tuesday. The Black Energy Professionals Association, an organisation of black professionals that practice their trade... 

Organisations oppose coal in IRP public hearings 

By: Kim Cloete     16th October 2018 Public hearings into the Integrated Resources Plan (IRP) kicked off in Parliament on Tuesday, with several organisations voicing their concerns about the plan’s provision for new coal-fired power stations. Attorney Robyn Hugo of the Centre for Environmental Rights (CER) told Parliament’s... 

Honeywell, ERG to collaborate on mine efficiencies

By: Marleny Arnoldi     16th October 2018 NYSE-listed Honeywell and Eurasian Resources Group (ERG) have signed a memorandum of understanding (MoU) to develop innovative technologies that will increase productivity at ERG’s operations in Kazakhstan, Brazil and several African countries. Under the terms of the MoU, Honeywell will... 

Zambian mining group says tax changes will hit mineral exploration

By: Reuters     16th October 2018 Zambia's proposed mining tax increases will hit mineral exploration and production in Africa's second biggest copper producer, companies involved in exploration said on Tuesday. Zambia plans to introduce new mining duties, replace Value Added Tax with sales tax and increase royalties to help... 

Metal Tiger T3 mine feasibility study ‘progressing well within budget’

By: Simone Liedtke     16th October 2018 The T3 mine feasibility study for Aim-listed strategic natural resource investor Metal Tiger’s joint venture project with ASX-listed MOD Resources in the Kalahari copperbelt, in Botswana, is “progressing well within budget”, and is due for completion in March 2019, Metal Tiger said on Tuesday.... 

Court to hear MFSA’s application against DMR 

By: Marleny Arnoldi     16th October 2018 The Mining Forum of South Africa (MFSA) says the Mafikeng High Court will, on October 26, hold a hearing into an application lodged by the MFSA against the Mineral Resources Minister over allegations that platinum miner Lonmin is not complying with its social and labour plans (SLPs). The... 

URU Metals completes geophysics survey at Zebediela project

By: Simone Liedtke     16th October 2018 The ground-based geophysics survey over a portion of Aim-listed exploration and development group URU Metals’ Zebediela nickel/sulphide project, in Limpopo, has been completed. The purpose of the programme was to assist with the accurate placement of further planned exploration drill holes and to... 

Arc Minerals reports elevated copper intersections at Zambia project

By: Simone Liedtke     16th October 2018 Aim-listed Arc Minerals on Tuesday reported additional reverse circulation and diamond drill assay results from the company’s 11 000 m drilling programme at the Kalaba prospect, which is part of its Zamsort copper/cobalt project, in Zambia. The results found that mineralisation continues to be... 

Polish govt promises tax relief to help copper region

By: Reuters     16th October 2018 The Polish government is working on amending tax laws, which could lead to tax deductions of up to 5% on certain minerals, it said on Tuesday. Poland currently taxes copper and silver exploration, but the only company paying the levy is KGHM, one of the world's biggest copper and silver producers. 

Vast targeting initial Baita Plai production in H1

By: Creamer Media Reporter      16th October 2018 Aim-listed Vast Resources is moving to deploy a team of people at the Baita Plai mine to start the implementation of the restart programme, following the granting of an association licence. The Romanian government has formally approved the association licence to Vast subsidiary African... 

Polyus confident of meeting FY target

By: Creamer Media Reporter      16th October 2018 Russian gold miner Polyus is confident that it will achieve its production guidance for the year, following a “robust” operational performance in the third quarter. The company, which trades on the Moscow and London stock exchanges, produced 691 200 oz of gold, a 15% improvement on the 602 000... 

Kenmare to declare maiden dividend for H1 2019; reports strong Q3 ilmenite, zircon production  

By: Marleny Arnoldi     16th October 2018 LSE-listed mineral sands producer Kenmare Resources on Tuesday announced its dividend policy, a watershed moment for the company, with dividends to be based on a minimum of 20% of profits after tax. Kenmare will start with an interim dividend for the first half of 2019, which will be paid in the... 

Kenmare to declare maiden dividend for H1 2019; reports strong Q3 ilmenite, zircon production
Kenmare MD Michael Carvill

Geological, sampling programmes start at ABM’s Côte d’Ivoire project

By: Marleny Arnoldi     16th October 2018 Aim-listed African Battery Metals (ABM) has started geological work on its recently acquired 380 square kilometre Lizetta II nickel/cobalt/chrome exploration project, in Côte d’Ivoire. ABM commissioned a site visit by a technical team to prepare for a structured field exploration programme, the... 

Gran Colombia Q3 output up 54% y/y

By: Creamer Media Reporter      16th October 2018 Canada-based Gran Colombia has marked the fourth consecutive quarter of gold production exceeding 50 000 oz and the first quarter of producing more than 50 000 oz at its Segovia mine alone, executive chairperson Serafino Iacono reported on Monday. The TSX-listed miner produced 57 163 oz of gold... 

De Beers reports steady demand for its rough diamonds 

By: Marleny Arnoldi     16th October 2018 Diamond miner De Beers Group on Tuesday announced that it had sold $475-million worth of rough diamonds during the eighth sales cycle of this year. This is lower than the $503-million worth of diamonds sold in the seventh cycle of the year, but higher than the $376-million worth of diamonds sold... 

De Beers reports steady demand for its rough diamonds
De Beers CEO Bruce Cleaver

Oyu Tolgoi underground production delay announced

By: Mariaan Webb     16th October 2018 The $5.3-billion underground project at the Oyu Tolgoi copper/gold mine, in Mongolia, remains on schedule to be completed by 2022, but operator Rio Tinto has flagged a nine-month delay in achieving sustainable production. Rio Tinto-owned Turquoise Hill, which holds the giant mine in a 66:34... 

Higher grades lift First Majestic output to a record

By: Mariaan Webb     16th October 2018 Mexico-focused First Majestic has reported a record of 6.7-million ounces of silver equivalent production in the three months ended September, on the back of a full quarter of output from the San Dimas mine, along with higher silver and gold grades at five of the company’s six mines. Total... 

Strandline to decide Coburn fate in 2019

By: Esmarie Iannucci     16th October 2018 Mineral sands developer Strandline Resources is expecting to take a development decision on its Coburn project, in Western Australian, during the first half of 2019, with the project potentially starting production by the second half of 2020. Strandline is in the midst of conducting a definitive... 

Northern Star sinks funding into Pogo

By: Esmarie Iannucci     16th October 2018 ASX-listed gold miner Northern Star will spend between A$15-million and A$20-million on exploration and drilling activities at its newly acquired Pogo project, in Alaska. The company on Tuesday reported a Joint Ore Reserves Committee (Jorc) compliant resource of 8.8-million tonnes, grading 14.7... 

Whitehaven production dips

By: Esmarie Iannucci     16th October 2018 Coal miner Whitehaven Coal has reported a 37% drop in production during the September quarter, compared with the previous corresponding period, reflecting a longwall change-out at the Narrabri operation. Managed run-of-mine (ROM) production reached 3.61-million tonnes in the three months to... 

Saracen strikes record quarter

By: Esmarie Iannucci     16th October 2018 Gold miner Saracen Mineral Holdings has reported record production in the three months to September, on the back of record group mill throughput and higher ore grades at all of its operations. Gold production in the quarter reached 88 940 oz, with the Carosue Dam operation delivering 51 753 oz... 

Lynas still waiting on clarity

By: Esmarie Iannucci     16th October 2018 Rare earths miner Lynas was still seeking clarity from the Malaysian government over the details of a reported review committee established to review the company’s operations in that country. Lynas on Tuesday said that local media outlets in Malaysia had announced the members of the review... 

BHP doubles stake in Ecuador copper project

By: Esmarie Iannucci     16th October 2018 Mining major BHP has subscribed for a further £45-million worth of shares in copper developer SolGold, which is the majority owner and operator of the Cascabel porphyry copper-gold project, in Ecuador. BHP will be issued an additional 100-million shares, at a price of 45p each, taking its... 

BHP doubles stake in Ecuador copper project

Rio Tinto copper output jumps; iron-ore, aluminium production slip

By: Esmarie Iannucci     16th October 2018 Diversified major Rio Tinto has reported lower production across nearly all its commodities, besides copper, in the three months to September. “We have delivered consistent operational performance in the third quarter, highlighted by strong production from the group’s copper assets,” Rio CEO... 

Rio Tinto copper output jumps; iron-ore, aluminium production slip

Global steel body hikes demand forecasts, but says risks remain

By: Reuters     16th October 2018 The World Steel Association on Tuesday doubled its 2018 and 2019 forecasts for growth in global demand for the material used in everything from cars to construction, but said that trade tensions were clouding the outlook for the sector. The caution over trade from a body that represents 85% of... 

Global steel body hikes demand forecasts, but says risks remain

Vale third-quarter iron-ore output hits all-time high

By: Reuters     16th October 2018 Iron-ore output at Brazilian miner Vale, the world's largest iron-ore producer, reached a record in the third quarter, boosted by the ramp-up of its S11D project in the Amazonian state of Pará. In a securities filing on Monday, Vale said iron-ore output jumped 10.3% from the year before to... 

Anglo Asian's Azerbaijan gold output rises 47% in Q3

By: Reuters     16th October 2018 Anglo Asian Mining's gold output rose 47% in the third quarter, the London-listed company said on Monday, adding that full-year production would be at the top end of its current guidance. Azerbaijan's leading gold mining firm said it produced 21 318 oz of the metal in the last quarter, against... 

James Cameron joins Petropavlovsk board

By: Creamer Media Reporter      15th October 2018 US lawyer James Cameron and UrAmerica chairperson Damien Hackett have joined the board of Russian gold miner Petropavlovsk as independent nonexecutive directors with immediate effect. Cameron is well known in business circles in California as a successful entrepreneur and investor and has had... 

Polymetal to outperform 2018 production and cost guidance

By: Mariaan Webb     15th October 2018 Russian miner Polymetal expects to exceed its 2018 production guidance of 1.55-million ounces of gold equivalent by up to 50 000 oz, on the back of the successful ramp-up of the Kyzyl mine. The company produced 1.07-million ounces of gold equivalent in the first nine months of the year, 447 000... 

CER attorneys to address MPs on new coal in the IRP

By: Creamer Media Reporter      15th October 2018 Attorneys from the Centre for Environmental Rights (CER) plan to, on Tuesday, tell Members of Parliament (MPs) that an Integrated Resource Plan for Electricity (IRP) that provides for expensive new coal-fired power, at a time when South Africa needs to be urgently transitioning away from... 

Bunker Hill lease terminated

By: Creamer Media Reporter      15th October 2018 Toronto-headquartered Bunker Hill Mining on Monday confirmed that the lease with option to purchase agreement for the Bunker Hill mine had been terminated, owing to a missed property payment. The CSE-listed company warned earlier this month that it was in default of its lease agreement with... 

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