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Popular in the last 24 hours

Eskom not generating enough cash to cover interest on debt – report

By: Terence Creamer     21st September 2017 A new report analysing Eskom’s financial position warns that the State-owned utility is simply not generating enough cash through operations and electricity sales to cover the interest on its borrowings, which will peak at around R500-billion in the coming three years. However, it also argues... 

Eskom not generating enough cash to cover interest on debt – report

Outa moves to freeze Gupta mines’ rehabilitation trust fund accounts

By: Creamer Media Reporter      21st September 2017 The Organisation Undoing Tax Abuse (Outa) plans to bring about an urgent interdict against the Bank of Baroda to freeze the R1.75-billion held in the Gupta-owned Optimum and Koornfontein coal mines’ rehabilitation trust fund accounts. The group on Thursday said in a statement that the interdict... 

Johnson Matthey to invest £200m in battery material technology

By: Reuters     21st September 2017 Johnson Matthey said it will invest an initial £200-million in expanding its battery material technology business from 2018, aiming to capitalise on growth in the electric vehicle market. The specialty chemicals company said the overall market "could be (worth) more than $30-billion (in) sales... 

Mining's biggest mystery is what Agarwal plans to do with Anglo

By: Bloomberg     21st September 2017 As Anglo American’s board met at the lavish Vergelegen wine estate in South Africa yesterday evening as part of a 100-year celebration, executives were blindsided by news headlines: Indian mining tycoon Anil Agarwal was becoming the biggest shareholder. After Anglo’s managers partied to honor the... 

Further investment in Anglo by majority shareholder of Vedanta

By: Martin Creamer     21st September 2017 Vedanta head Anil Agarwal has once again hit the headlines by announcing an intended further personal investment in Anglo American through Volcan Investments, which is the majority shareholder of Vedanta Resources. Volcan announced on Wednesday that it intended investing £1.25-billion to... 

Further investment in Anglo by majority shareholder of Vedanta
Photo by Bloomberg
Vedanta head Anil Agarwal

Pan African rolling out vibrant internal growth projects 

By: Martin Creamer     21st September 2017 Midtier gold mining company Pan African is rolling out vibrant internal growth projects involving the revival of Evander Mines’ 7 Shaft and the alleviation of congestion at Barberton Mines’ Fairview operation, which will provide the flexibility needed to better exploit what is arguably the... 

Pan African rolling out vibrant internal growth projects

Syrah raises initial A$75m

By: Esmarie Swanepoel     21st September 2017 Graphite developer Syrah Resources has successfully raised A$74-million of a targeted A$110-million through a share placement and the institutional component of a pro-rata accelerated nonrenounceable entitlement offer. “We are delighted with, and grateful for, the strong level of support shown... 

Zimbabwe's Jan-August gold production rises 10%

By: Reuters     21st September 2017 Zimbabwe's gold production rose 10% in the first eight months of this year to 14.6 t, buoyed by higher output from small and informal producers, official data showed on Thursday. Gold is Zimbabwe's single largest mineral export. 

The graphite fix: Inside China's newest commodity addiction

By: Reuters     21st September 2017 China's aggressive environmental protection campaign has tightened supplies of graphite electrodes used in steelmaking, boosting the fortunes of big producers like Fangda Carbon as mills search far and wide for a material now in short supply. Beijing's campaign for clearer skies has closed... 

Tlou submits plans for Botswana power plant

By: Esmarie Swanepoel     21st September 2017 ASX- and Aim-listed Tlou Energy has submitted a proposal to the Botswana Ministry of Mineral Resources, Green Technology and Energy Security to develop up to 100 MW of coalbed methane- (CBM-) fuelled pilot power plants in the African country. The government of Botswana earlier this year requested... 

Roxgold lifts FY guidance 9%

By: Henry Lazenby     21st September 2017 TSX-listed issuer Roxgold has increased its full-year guidance by nearly 9% to a range of between 115 000 oz and 125 000 oz of gold, compared with the previous guidance of 105 000 oz to 115 000 oz. The Toronto-based company, which operates its flagship Yaramoko gold mine, in the Houndé greenstone... 

Miner Hochschild on hunt for acquisitions – executive

By: Reuters     21st September 2017 London-based precious metals miner Hochschild Mining is looking for opportunities to grow through acquisitions of early-stage projects, the chief executive said on Wednesday. Speaking during a presentation at the mining convention Perumin, in southern Peru, Ignacio Bustamante added that the... 

Ulysses feasibility study under way

By: Esmarie Swanepoel     21st September 2017 Gold hopeful Genesis Minerals has launched a feasibility study on an underground mining operation at its Ulysses project, in Western Australia, with the hopes of starting underground mining in the second quarter of 2018. The company said on Thursday that an internal scoping study had... 

Kyrgyzstan awards Chaarat permits for Tulkubash heap leach project

By: Mariaan Webb     21st September 2017 Aim-quoted Chaarat Gold has received all necessary approvals to bring its Tulkubash heap-leach project, in Kyrgyzstan, into production in 2019, the company announced on Thursday. This follows the State Committee of Energy, Industry and Subsoil Use’s (SCEIS’s) approval of Chaarat’s technical... 

Kyrgyzstan awards Chaarat permits for Tulkubash heap leach project

Pallinghurst widens H1 losses

By: Natasha Odendaal     21st September 2017 JSE-listed Pallinghurst Resources expects its losses for the six months to June 30, to widen, owing to decreases in the valuation of the company’s investments. A headline loss a share of $0.10 is anticipated for the half year under review, deteriorating from a headline loss a share of $0.04... 

Red 5 warns of further impairments

By: Esmarie Swanepoel     21st September 2017 Gold miner Red 5 has warned of a noncash impairment of between A$28-million and A$30-million on the carrying value of its Siana gold project, in the Philippines. The impairment charge expected to be recorded in the June year-end will be in addition to the A$70.4-million expense recorded in the... 

Red 5 warns of further impairments

NUM continues strike at Petra’s Finsch mine, to down tools at Koffiefontein after wage deadlock

By: Natasha Odendaal     21st September 2017 The National Union of Mineworkers (NUM) has issued Petra Diamonds with a 48-hour notice for a planned, protected strike at the Koffiefontein mine, in Northern Cape. The union on Thursday said it would withdraw all members from the mine, starting on Saturday morning, until Petra accedes to the... 

Eldorado calls off threat to shutter Greek development projects as relations thaw

By: Henry Lazenby     Updated 5 hours ago Canadian gold producer Eldorado Gold reports that icy relations with the leftist Greek government is on the mend, and it has temporarily postponed its threats to mothball development of the Kasandra Mines assets in Halkidiki, Northern Greece. The Vancouver-based company said on Thursday that it... 

Copper Hill value increases - Golden Cross

By: Esmarie Swanepoel     21st September 2017 An independent valuation by GEOS Mining has found that the Copper Hill copper-gold project, in New South Wales, was worth an estimated preferred A$14.4-million. Project owner Golden Cross Resources said on Thursday that the project’s worth had been estimated at between A$7.6-million and... 

China's NDRC says coal mines must not close to avoid inspections

By: Reuters     21st September 2017 China's National Development and Reform Commission (NDRC) on Thursday warned coal miners not to temporarily close to avoid inspections as the country's top economic planner works to stabilize prices amid the environmental and safety checks. In a statement on its website, NDRC also said railway... 

Resources Watch  

     21st September 2017 Metso showcases ongoing commitment to servicing South African mining sector; and, systems water intensive, but more efficient and environment friendly 

Resources Watch

PotashRidge to spin out Quebec assets; Encanto secures C$100m for Muskowekwan work

By: Henry Lazenby     21st September 2017 Despite a potash glut, junior project developers are making steady progress developing the next generation of mines that will provide plant nutrients needed to cater for exploding food demand across the globe. TSX-listed PotashRidge announced on Wednesday that it would spin out its Quebec assets... 

Longford buys US company

By: Esmarie Swanepoel     21st September 2017 ASX-listed junior Longford Resources has moved to acquire two cobalt/copper projects, in the US. The company on Thursday announced that it would acquire US-based Liaz, which holds the Colsons copper/cobalt project in Idaho, and the Goodsprings copper/cobalt project in Nevada. 

ICE delays takeover of London's silver benchmark to October 2

By: Reuters     21st September 2017 ICE Benchmark Administration, a unit of Intercontinental Exchange (ICE), will take over as operator of London's silver benchmark on October 2, a week later than planned, the exchange said on Thursday. Two current participants in the benchmark, Swiss bank UBS and China Construction Bank (CCB), are... 

Kallak shows jobs, revenue potential – Beowulf

By: Natasha Odendaal     21st September 2017 Aim-listed Beowulf Mining on Thursday said the development of its Kallak magnetite iron-ore project, in Sweden, into a mining operation will create direct and indirect jobs, increase tax revenues and slow down population decline in the nearby town of Jokkmokk. A socioeconomic study, initiated by... 

Brazil miner Votorantim Metais files for New York, Toronto IPO

By: Reuters     Updated 4 hours ago Brazil-based mining company Votorantim Metais Holding filed on Thursday for an initial public offering in New York and Toronto, according to a securities filing, which did not signal the pricing or total fundraising expected. Proceeds from the offering would go entirely to the controlling... 

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