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Popular in the last 24 hours

Eskom debt swap not an option – Ramaphosa 

By: Reuters     14th December 2018 A debt swap for cash-strapped state power company Eskom would spiral the country into more debt, South Africa's President Cyril Ramaphosa said on Thursday, adding there was a need to look at other options to shore up the company's balance sheet. Eskom, which has had to implement power cuts due to... 

Angola approves new rules for rough diamonds

By: Rebecca Campbell     14th December 2018 The Angolan Government last week approved the new regulations concerning the commercialisation of diamonds, the Macauhub news agency has reported. The country’s Council of Ministers (Cabinet) approved the regulations on December 5. The official title of the new set of rules is The Technical... 

Paulson wins control of Detour board in key shareholder vote

By: Bloomberg     14th December 2018 Paulson & Co has convinced shareholders of Detour Gold to overthrow the bulk of the Canadian miner’s board of directors, including its interim CEO, ending a nasty six-month proxy battle. Five of the Paulson-backed nominees were chosen, while Detour chairman Alex Morrison and interim CEO Michael... 

Paulson wins control of Detour board in key shareholder vote
John Paulson's Paulson & Co has taken control of the Detour Gold board.

Australian oil and gas producers' tax revealed

By: Esmarie Iannucci     14th December 2018 Australian oil and gas producers had reported their worst operating result in the 2016/17 financial year. In a new survey by the Australian Petroleum Production and Exploration Association (Appea), Australian oil and gas producers reported a combined net operating loss of A$7.6-billion for... 

Northern Territory opens A$800m gas pipeline

By: Esmarie Iannucci     14th December 2018 The Australian Petroleum Production and Exploration Association (Appea) has welcomed the opening of the Northern gas pipeline between Tennant Creek, in the Northern Territory, and Mt Isa, in Queensland. Infrastructure developer Jemena has completed the construction of the A$800-million, 622 km... 

Northern Territory opens A$800m gas pipeline

Western Australia’s domestic gas market seen tightening in 2021

By: Esmarie Iannucci     14th December 2018 New data by the Australian Energy Market Operator (AEMO) has shown that new gas resources might be required to ensure that Western Australia had sufficient supply to serve its domestic gas market beyond 2020. “Our findings highlight a tightening of the domestic gas market in 2021 as supply... 

Bass raises cash for Graphmada

By: Esmarie Iannucci     14th December 2018 ASX-listed Bass Metals will raise A$3.3-million through a share placement to fund resource drilling and part of the Stage 2 expansion at its Graphmada large flake graphite project, in Madagascar. Shares for the placement will be issued at a price of 1.25c each, with subscribers to the placement... 

Resolute starts production from Syama underground

By: Esmarie Iannucci     14th December 2018 Gold miner Resolute Mining has started ore production from the new Syama underground mine, in Mali. MD and CEO John Welborne said on Friday that the successful development of the Syama underground mine represented a pivotal moment in the history of the company. 

Two people presumed dead in Mulatos accident – Alamos

By: Creamer Media Reporter      14th December 2018 Canada-based Alamos Gold late on Thursday reported a serious accident at its Mulatos mine, in Mexico, which has likely cost the lives of two of its workers. The accident involved an unexpected pit slope movement in the El Salto area of the openpit, where pre-stripping activities were being... 

Explaurum updates Tampia economics, holds off on Ramelius decision

By: Esmarie Iannucci     14th December 2018 Takeover target Explaurum has released the results of an updated feasibility study for its Tampia gold project, which has increased the project’s estimated net present value from A$125-million to A$156-million, while the internal rate of return has increased from 47% to 70%. Explaurum said on... 

West African completes A$43m share placement

By: Esmarie Iannucci     14th December 2018 ASX-listed West African Resources has completed a A$43.2-million share placement, issuing some 172.7-million shares, at a price of 25c each. The share placement formed part of the company’s funding package to support the start of gold production at its Sanbrado project, in Burkina Faso. 

Firestone recovers 46 ct diamond at Liqhobong

By: Tasneem Bulbulia     14th December 2018 Firestone Diamonds has recovered a 46 ct white diamond, from its Liqhobong mine, in Lesotho. The diamond was recovered undamaged and will go on sale at the next tender, which is scheduled to take place at the end of January 2019. 

Nigeria's first gold refinery scheduled to be ready next year

By: Bloomberg     14th December 2018 Nigeria’s first gold refinery, located in the southwestern state of Ogun, is scheduled to be completed by the end of June, according to Kian Smith Trade & Co, the local company developing it. The refinery will initially be able to produce 3 metric tons of gold each month, and 1 t of silver, Kian... 

Resources keep Queensland in the black

By: Esmarie Iannucci     14th December 2018 In its mid-year fiscal and economic review (MYFER), the Queensland government has increased its projected net operating surplus in 2018/19 to A$524-million, up by A$376-million in the June Budget. Deputy Premier and Treasurer Jackie Trad said this week that the state Budget surpluses totaled... 

Global uranium supply sufficient to meet future demand – NEA 

By: Marleny Arnoldi     14th December 2018 Intergovernmental agency, the Nuclear Energy Association (NEA), says the world’s supply of uranium is more than adequate to meet projected requirements for the foreseeable future, regardless of the role that nuclear energy will play in meeting future electricity demand and global climate... 

Global uranium supply sufficient to meet future demand – NEA
Cameco's Inkai mine in Kazakhstan

Kodal Minerals confident of making Bougouni mine decision in 2019

By: Marleny Arnoldi     14th December 2018 Aim-listed Kodal Minerals’ Bougouni project, in Mali, is progressing to its feasibility, planning and construction stages. CEO Bernard Aylward on Friday commented that 2018 had been a year of intense activity, with the company having declared a maiden resource of 17.3-million tonnes at 1.2%... 

Wheaton settles with CRA

By: Creamer Media Reporter      14th December 2018 Metals streaming firm Wheaton Precious Metals has reached a settlement with the Canada Revenue Agency (CRA) over transfer pricing, removing uncertainty about the use of its business model going forward. The settlement provides for a resolution of Wheaton’s tax appeal in connection with the... 

Policy certainty lifts sentiment, safety slips and a challenging 2019 forecast 

By: Nadine James     14th December 2018 Improved sentiment on the back of a newly appointed Minerals Resources Minister, the publication of and the subsequent consensus on Mining Charter 3 after extensive consultations, and mixed global commodities demand influenced by macroeconomic developments – primarily US-China trade tensions –... 

Policy certainty lifts sentiment, safety slips and a challenging 2019 forecast

Australian rail workers postpone coal haulage strikes as cyclone looms

By: Reuters     14th December 2018 Coal railway workers at Australian hauler Aurizon Holdings have postponed some planned strikes in Queensland, a union official said, as a cyclone is forecast to bring poor weather near some of the affected railways. Aurizon's four major railways in the Bowen Basin of Queensland, the world's... 

Mineral Resources and Albemarle agree $1.15bn lithium deal

By: Reuters     14th December 2018 Australia's Mineral Resources on Friday signed a binding deal to sell a stake in its Wodgina Lithium Project and form a lithium joint venture with US-based Albemarle Corp for $1.15-billion. The deal allows Albemarle Corp, the world's top lithium producer, to expand its presence in Australia at a... 

Strongbow to complete London listing in H1 2019

By: Mariaan Webb     14th December 2018 Strongbow Exploration, the company that is seeking to revive the South Crofty tin mine, in Cornwall, south-west England, has confirmed that it will plans to complete its listing on London’s Aim exchange in the first half of 2019. The company, which already has a listing on the TSX-V, previously... 

Orion’s flagship Prieska project to be a beacon of hope for junior miners 

By: Simone Liedtke     14th December 2018 Junior mining in South Africa will finally see a new level of growth as a result of South Africa’s newly gazetted Mining Charter 3, base metals miner Orion Minerals CEO Errol Smart told Mining Weekly Online on Friday. Junior mining, which he says has been the “bottom-feeding sector” in the mining... 

Orion’s flagship Prieska project to be a beacon of hope for junior miners
Orion CEO Errol Smart

Synthetic diamonds hogged media attention in 2018

By: Nadine James     14th December 2018 Media coverage of the diamond industry in 2018 has been dominated by the progression of laboratory-created diamond production, distribution and pricing dynamics, according to independent diamond expert Paul Zimnisky. He commented that several new players have entered the synthetic diamond space,... 

Synthetic diamonds hogged media attention in 2018
Photo by Bloomberg
TALK OF THE TOWN Laboratory-grown diamonds have held media and industry attention throughout 2018

Chinese battery firm halts purchases of cobalt from Glencore – sources

By: Reuters     14th December 2018 Chinese battery firm GEM has stopped buying cobalt from Glencore as the price of the battery material crashed below that agreed in a three-year deal between the two companies, sources close to the matter said. GEM said in a March 14 regulatory filing that it would buy 52 800 tonnes of cobalt from... 

AMCU union to remain on strike at Sibanye-Stillwater

By: Reuters     14th December 2018 The president of South Africa's Association of Mineworkers and Construction Union (AMCU) said on Friday that the union's Sibanye-Stillwater members remain on strike, disputing the miner's argument the action is now illegal. Joseph Mathunjwa was speaking at a media conference organised to respond... 

Commissioning activities ramping up at Spain tungsten project

By: Creamer Media Reporter      14th December 2018 Construction activities at the Barruecopardo tungsten project, in Spain, have begun to wind down and mine commissioning activities are ramping up significantly, in line with a previously guided timeline of starting production in early February. London-listed Ormonde Mining reported on Friday... 

Commissioning activities ramping up at Spain tungsten project

At least 13 illegal miners in north-eastern India feared killed

By: Ajoy K Das     14th December 2018 At least 13 people have been trapped and feared to be killed while illegally mining coal in the north-eastern Indian state of Meghalaya. According to preliminary reports received from government officials, the trapped miners may have been killed in the coal mine in the coal-rich Jantia hills. 

Climate ideals clash with coal realities at Polish-led UN talks

By: Reuters     14th December 2018 Delegates at UN climate talks in the Polish city of Katowice point to the mining museum next to the conference venue as the proper place for coal, which provides 80% of the country's electricity. Poland's decision to host the negotiations to revive the 2015 Paris agreement on phasing out fossil... 

Chaarat returns to Aim

By: Mariaan Webb     14th December 2018 Chaarat Gold’s share price fell sharply following its readmission to London’s Aim market on Friday, after an eight-month suspension under the exchange’s reverse takeover rules. The company’s ordinary shares resumed trading at 11:30 London time, and fell 16% to 20.25p a share just before midday. 

Guinea-focused Bellzone Mining goes bust

By: Mariaan Webb     14th December 2018 Guinea-focused iron-ore company Bellzone Mining has called in the liquidators after its largest shareholder and main backer Hudson Capital prevented it from raising any further equity and debt. The company previously warned that it would go bust if it could not secure a fresh injection of cash... 

MOD granted renewals on all its Botswana prospecting licences

By: Marleny Arnoldi     14th December 2018 ASX- and Aim-listed MOD Resources reported on Friday that all its prospecting licences across the joint venture (JV) landholdings in the Botswana copperbelt have been granted two-year extensions. Additionally, a new licence has been issued for three years. 

Miners find chicken-egg sized diamond in Canada's frozen north

By: Bloomberg     Updated 6 hours ago The biggest diamond ever found in North America has been unearthed by Dominion Diamond Mines and Rio Tinto Group at a mine in Canada’s frozen north. The 552 ct yellow gem was found at the Diavik mine in the Northwest Territories, and is almost three times the size of the next largest stone ever... 

Miners find chicken-egg sized diamond in Canada's frozen north

Bulls lining up for gold means now may be a good time for silver

By: Bloomberg     Updated 4 hours ago The recent bounce in gold has so far happened without a similar move in silver. That might be about to change, according to Saxo Bank A/S. Ole Hansen, head of commodity strategy at Saxo Bank, tracks the ratio of gold to silver and said the recent moves point in favor of higher silver prices. 

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