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South32 offers $1.3bn for rest of Arizona

By: Esmarie Swanepoel     Updated 7 hours ago Diversified miner South32 has struck a $1.3-billion takeover deal with TSX-listed Arizona Mining, offering to acquire the remaining 83% interest in the company through an all-cash offer. South32 is offering Arizona shareholders C$6.20 a share for their interest in the TSX-listed miner, which... 

South32 offers $1.3bn for rest of Arizona
South32 CEO Graham Kerr

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

By: Creamer Media Reporter      Updated 1 hour 34 minutes ago 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... 

China's taxing America's coal just as it was looking to buy more

By: Bloomberg     16th June 2018 Forgive US coal miners for feeling a bit of whiplash over China’s trade policies. Just two weeks ago, the Chinese government was said to be considering buying more American coal as part of an effort to narrow its trade deficit with the US. Now, in retaliation for President Donald Trump’s duties... 

China's taxing America's coal just as it was looking to buy more

Big metal is conspicuously tight-lipped on US-China rift

By: Bloomberg     16th June 2018 If mining companies are as bothered by Trump’s tariffs as investors appear to be, they’re not saying. A full-out trade war between the US and China could negatively affect the metals and mining sector in several ways. China could respond to Friday’s US tariffs by cutting imports of raw... 

Chile anti-trust regulator to probe Tianqi purchase of SQM stake

By: Reuters     16th June 2018 Chile's anti-trust regulator FNE said on Friday it would open an investigation into the effects on the market of China's Tianqi purchase last month of a 24% stake in SQM, one of the world's top lithium producers. Chile's government under former President Michelle Bachelet in March filed a... 

Alphamin closes C$19.2m equity financing

By: Creamer Media Reporter      Updated 1 hour 27 minutes ago 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. 

GoldMining graduates to TSX

By: Creamer Media Reporter      Updated 1 hour 7 minutes ago 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,... 

The Israeli billionaire forcing Glencore to buck US sanctions

By: Bloomberg     16th June 2018 Not many billion-dollar companies would be willing to circumvent US sanctions for their business partner, but then few people are as powerful as Dan Gertler in the Democratic Republic of Congo. Gertler scored a victory when Glencore said on Friday that it would evade US sanctions to keep paying... 

The Israeli billionaire forcing Glencore to buck US sanctions
Dan Gertler

Tahltan to receive C$7m a year from Brucejack taxes

By: Creamer Media Reporter      16th June 2018 The Tahltan First Nation will receive about C$7-million a year in tax revenue from the new Brucejack gold mine, under a revenue-sharing agreement between the British Columbia government and the Tahltan central government. The Brucejack mine, in north-western British Columbia, is expected to... 

Glencore says settled Congo mining dispute

By: Reuters     15th June 2018 Miner and commodities trader Glencore has settled its Congo mining dispute with two companies associated with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than US dollars, Glencore said on Friday. US sanctions on Gertler, Glencore's former Israeli partner in... 

Glencore says settled Congo mining dispute
Glencore subsidiary Katanga Mining's operations in the DRC.

Red 5 divests of Mt Cattlin royalty

By: Esmarie Swanepoel     Updated 7 hours ago 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,... 

Erris gives update on Centerra-funded exploration JV

By: Creamer Media Reporter      Updated 6 hours ago 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... 

South Africa proposes 30% black ownership for mining firms within 5 years

By: Reuters     16th June 2018 South Africa plans to raise black ownership at permit-holding mining companies to 30% from 26% within five years, the latest draft of a hotly-contested new industry charter showed on Friday. The government and miners had been at loggerheads over a previous version of the charter, which industry... 

South Africa proposes 30% black ownership for mining firms within 5 years
Photo by Dylan Slayter
Mineral Resources Minister Gwede Mantashe

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

By: Terence Creamer     Updated 2 hours 7 minutes ago 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     Updated 3 hours ago 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      Updated 4 hours ago 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      Updated 4 hours ago 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     Updated 4 hours ago 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

Updated 4 hours ago 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      Updated 4 hours ago 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     Updated 4 hours ago 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     Updated 4 hours ago 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      Updated 5 hours ago 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     Updated 6 hours ago 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     Updated 6 hours ago 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      Updated 6 hours ago 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     Updated 7 hours ago 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... 

Havilah reveals maiden reserve at Kalkaroo

By: Esmarie Swanepoel     Updated 7 hours ago Junior Havilah Resources has reported a maiden ore reserve of 474 000 t of contained copper and 1.41-million ounces of gold at its Kalkaroo copper/cobalt/gold project, in South Australia. The ASX-listed Havilah noted that the ore reserve estimate did not include cobalt at this stage, with the... 

Rinehart’s Hancock bids $390m for Atlas, trumps MinRes offer

By: Esmarie Swanepoel     Updated 7 hours ago Gina Rinehart’s Hancock Prospecting has solidified its intentions for ASX-listed Atlas Iron, revealing a 4.2c a share takeover offer, or A390-million, for the Pilbara iron-ore miner. Atlas told shareholders on Monday that the Hancock offer, which would open in about two weeks’ time, would be... 

Pilgangoora ships first lithium DSO

By: Esmarie Swanepoel     Updated 7 hours ago The first 85 000 t of direct shipping ore (DSO) from the Pilgangoora lithium/tantalum project, in Western Australia, has been shipped by ASX-listed Atlas Iron under a mine gate sales agreement with producer Pilbara Minerals. The lithium was exported to China under an offtake agreement under... 

Santos awards Barossa contracts

By: Esmarie Swanepoel     Updated 7 hours ago Oil and gas major Santos has awarded three major engineering contracts on the front-end engineering and design (FEED) phase of its Barossa offshore project. Santos on Monday said that separate engineering contracts for the proposed floating production storage and offloading facility (FPSO) have... 

Finders reports wall failure at Wetar

By: Esmarie Swanepoel     Updated 7 hours ago Copper miner Finders Resources has reported a wall failure at its Kali Kuning openpit mine, at the Wetar copper project, in Indonesia. The company on Monday said that 175 000 bank cubic meters of waste rock from the north-eastern high wall were displaced into the pit on June 14, with mining... 

Hedge funds pick the wrong time to go big on gold as prices drop

By: Bloomberg     16th June 2018 Hedge funds just mistimed their gold bets. Money managers as of Tuesday pushed their wagers on a bullion rally to the highest in seven weeks. The next day, Federal Reserve policy makers signaled more interest-rate increases this year than earlier projected. Gold ended up posting a weekly loss as... 

Kefi raises £3m; issues shares to contractors, third parties

By: Simone Liedtke     15th June 2018 Aim-listed Kefi Minerals has conditionally raised £3-million, equivalent to about $4-million, through a placing of 120-million new ordinary shares at 2.5p apiece to existing and new shareholders. The placing proceeds net of expenses are expected to be about £2.8-million and will primarily be used... 

Exxaro appoints new chairperson

By: Marleny Arnoldi     15th June 2018 JSE-listed coal and heavy minerals miner Exxaro has appointed Jeffrey van Rooyen as independent nonexecutive chairperson.  

Mantashe to publish draft charter for public comment

By: Creamer Media Reporter      15th June 2018 Mineral Resources Minister Gwede Mantashe intends to, on Friday, publish the draft Mining Charter for public comments before it is finalised and gazetted.   This follows weeks of engagements with stakeholders and social partners.   “Publishing of the charter moves us a step forward in terms of... 

Glencore’s DRC settlements should allay fears about asset seizure – analyst

By: Chanel de Bruyn     15th June 2018 Diversified miner Glencore’s settlement, this week, of various disputes with entities in the Democratic Republic of Congo (DRC), should allay investor concerns about the risk of a seizure of its DRC assets, says Goldman Sachs. Glencore, led by CEO Ivan Glasenberg, on Friday announced that it had... 

Glencore’s DRC settlements should allay fears about asset seizure – analyst
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Samarco is said to be nearing settlement with Brazil prosecutors

By: Bloomberg     15th June 2018 After a year of back and forth, the owners of the idle Samarco iron-ore mine are close to signing a definitive settlement with Brazilian prosecutors that will clear the way for restart preparations and debt talks to begin, according to people briefed on the matter. Joint venture partners Vale... 

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