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Popular in the last 24 hours

Erin Energy enters farm-out agreement over two oil blocks in The Gambia

By: Megan van Wyngaardt     27th March 2017 Dual-listed Erin Energy Corporation has entered into a definitive farm-out agreement with ASX-listed oil and gas company FAR, which will acquire an 80% interest and operatorship of Erin’s offshore A2 and A5 blocks in The Gambia. Erin Energy will retain a 20% working interest in both blocks. 

South32 to return additional $500m to shareholders

By: Martin Creamer     27th March 2017 Diversified mining company South32 on Monday announced that it intends to return an additional $500-million to shareholders, equating to 4.5% of the group’s current market capitalisation. The Sydney-, London- and Johannesburg-listed company said in a media release that this dividend-complementing... 

South32 to return additional $500m to shareholders
South32 CEO Graham Kerr

Turquoise Hill stocks pop despite narrower FY profit, lower 2017 outlook

By: Henry Lazenby     Updated 1 hour 47 minutes ago The NYSE-listed stock of Rio Tinto subsidiary Turquoise Hill Resources rose sharply after market close Monday, gaining nearly 6% to $3.24 a share, following the company reporting a full-year profit and positive production outlook. In 2016, the Turquoise Hill, recorded net income attributable to... 

Turquoise Hill stocks pop despite narrower FY profit, lower 2017 outlook
Photo by Turquoise Hill Resources
Oyu Tolgoi, Mongolia

BHP Billiton shuts South Walker Creek coal mine ahead of Cyclone Debbie arrival

By: Reuters     27th March 2017 Mining giant BHP Billiton said on Monday it was suspending operations at its South Walker Creek coal mine in Queensland with Cyclone Debbie expected to bear down on Australia on Tuesday close to the site. "BHP Billiton Mitsui Coal (BMC) South Walker Creek Mine is close to the official warning... 

Southern Gold partners with London-listed firm on two Korean projects

By: Esmarie Swanepoel     27th March 2017 Gold producer Southern Gold could restart two of its Korean gold mines with the help of LSE-listed Bluebird Merchant Ventures. ASX-listed Southern Gold on Monday announced that it has signed a conditional agreement with Bluebird for the farm-in on two of Southern Gold’s 17 gold projects in South... 

Avanco sets A$10.6m Brazil exploration budget

By: Esmarie Swanepoel     27th March 2017 The board of ASX-listed junior Avanco Resources has approved a A$10.6-million exploration budget for this year, to focus on its Brazilian projects. “Over the last decade, Avanco has accumulated an exciting portfolio of projects and tenements in the Carajas, a premier mineral province for the... 

Glencore to halt operations at two Australian coal mines due to cyclone

By: Reuters     27th March 2017 Glencore said on Monday it was halting operations at its Collinsville and Newlands coal mines in Australia ahead of Cyclone Debbie's arrival in northern Queensland on Tuesday. "We are preparing to temporarily suspend production at our Collinsville and Newlands coal mines but do not envisage any... 

Dominion Diamond Corp up for sale in wake of $1.1bn offer

By: Henry Lazenby     Updated 3 hours ago Canada’s largest diamond producer Dominion Diamond Corp has launched a formal process that could include the sale of the company or other strategic transactions. The announcement on Monday follows a $1.1-billion unsolicited bid in February by Montana-based Washington Companies, a group of... 

Dominion Diamond Corp up for sale in wake of $1.1bn offer
Photo by Dominion Diamonds
Dominion Diamond Corp's Ekati mine, Northwest Territires

Wesizwe to report higher earnings for FY16

By: Megan van Wyngaardt     27th March 2017 Platinum miner Wesizwe Platinum, which is developing the Bakubung mine, near Rustenburg, expects to post improved results for the financial year to December 31, with basic earnings a share forecast to increase by 144% to 164%, to between 15.17c and 22.01c. This compares with the basic loss a... 

Orinoco gets new COO

By: Esmarie Swanepoel     27th March 2017 Brazil-focused gold miner Orinoco Gold has appointed Craig Dawson as COO, effective immediately. He has more than 30 years experience in the Australian and international mining industry and has held senior operational positions at a number of midtier and global mining companies, including GM at... 

11 killed in two gold mine accidents in central China – Xinhua

By: Reuters     27th March 2017 Accidents at two neighbouring gold mines in central China's Henan province killed 11 people on Friday, the official Xinhua news agency reported, citing local authorities. Thick smoke engulfed a pit at the Qinling gold mine of China National Gold Group in Lingbao City on Friday morning, trapping... 

Australian magnetite drawing more Chinese interest

By: Esmarie Swanepoel     27th March 2017 The South Australian Magnetite Consortium has inked another sale and purchasing letter of intent (LoI), this time with Chinese steel company Sha Steel, for the acquisition of two-million tonnes a year of iron-ore concentrate for sinter feed blends. ASX-listed Magnetite Mines chairperson Gordon... 

Tlou raises A$5.2m for CBM projects

By: Esmarie Swanepoel     27th March 2017 ASX- and Aim-listed Tlou Energy has raised some A$5.2-million through a share placement to fund work at its coal bed methane (CBM) projects, in Botswana and elsewhere in Southern Africa. The company placed more than 51.78-million shares at an issue price of 10c each, to sophisticated and... 

Botswana Diamonds continues to progress exploration programmes

By: Anine Kilian     27th March 2017 JSE-listed Botswana Diamonds has completed a drilling programme on PL 186, on the Maibwe ground, in the Kalahari Desert, it said in a statement of Monday. “We identified the locations of the previously drilled holes where significant quantities of diamonds were discovered. We drilled three... 

Mustang lists on Frankfurt exchange

By: Esmarie Swanepoel     27th March 2017 ASX-listed Mustang Resources has listed on the Frankfurt Stock Exchange, trading under the stock symbol GGY, as a result of the growing interest among European investors, in the Montepuez ruby and Caula graphite projects, in Mozambique. Mustang on Monday told shareholders that its ruby inventory... 

Pilbara granted native vegetation clearing permit

By: Esmarie Swanepoel     27th March 2017 Lithium developer Pilbara Minerals has received the first of two environmental approvals for its Pilgangoora lithium-tantalum project, in Western Australia. The ASX-listed company on Monday announced that it was granted its native vegetation clearing permit. 

Savannah raises Mutamba resource estimate

By: Anine Kilian     27th March 2017 Savannah Resources has raised the resource estimate for its Mutamba mineral sands project, in Mozambique, after evaluating drilling results from the Ravene deposit. The Ravene resource has been found to contain a high-grade portion of 92-million tonnes at 6.2% total heavy materials (THM), which... 

Premier African Minerals raises over £2m in oversubscribed offer

By: Megan van Wyngaardt     27th March 2017 Aim-listed Premier African Mineral’s offer, made on Friday, to raise £1.5-million, at 0.5p per new ordinary share, received a very strong response from private and institutional investors, with the offer being oversubscribed. The offer was on a first come, first served basis and was closed early... 

DA to ask public protector to investigate Eskom acting CEO’s R1bn deals to stepdaughter

By: African News Agency      27th March 2017 The Democratic Alliance will ask Public Protector Busisiwe Mkhwebane to launch an investigation into Eskom acting CEO Matshela Koko for allegedly awarding tenders worth R1-billion to Impulse International, a company of which his stepdaughter is a director, the party said on Sunday. “Impulse... 

DA to ask public protector to investigate Eskom acting CEO’s R1bn deals to stepdaughter
Photo by Duane Daws
Eskom acting CEO Matshela Koko

Osisko Gold Royalties picks up 0.75% Cariboo NSR from Barkerville

By: Henry Lazenby     Updated 2 hours 48 minutes ago TSX-V-listed Barkerville Gold Mines has sold another 0.75% net smelter return (NSR) royalty on its flagship Cariboo gold project, in in central British Columbia, to TSX-listed Osisko Gold Royalties for C$12.5-million in cash. Following the transaction, Osisko’s total NSR royalty will be 2.25%,... 

Agnico sells $220m stock to single US institutional investor

By: Henry Lazenby     Updated 35 minutes ago Dual-listed Canadian gold producer Agnico Eagle Mines has agreed to issue and sell five-million of its common shares directly to an institutional investor in the US at a price of $43.97 apiece, for total payment of about $220-million. Toronto-based Agnico said it will use the net proceeds of the... 

Vale completes Moatize sale to Mitsui, appoints new CEO

By: Henry Lazenby     Updated 13 minutes ago Brazilian major miner Vale has completed the sale of its interest in the Mozambique-based Moatize coal project to Japanese miner Mitsui & Co, receiving an initial payment of $733-million of the $770-million all-scrip transaction. The remaining amount will be paid after the financing for the... 

Colombia municipality, home of AngloGold project, votes to ban mining

By: Reuters     Updated 4 minutes ago Voters in Colombia's Tolima province have backed a proposal to ban mining projects in their municipality, a result that raises questions about the future of an AngloGold Ashanti gold exploration in the area. South Africa's AngloGold may not be permitted to extract gold at its flagship Colombian... 

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