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Popular in the last 24 hours

Paulson urges underperforming gold miner to seek a buyer

By: Bloomberg     25th June 2018 Billionaire hedge-fund manager John Paulson is among investors pushing for Canadian miner Detour Gold to put itself up for sale, citing stock losses amid managerial missteps. In a letter to the Toronto-based company’s board, Paulson & Co said directors had “failed to recruit and oversee a... 

Paulson urges underperforming gold miner to seek a buyer
John Paulson

Barrick’s talks with Tanzanian govt progressing

By: Marleny Arnoldi     25th June 2018 Canadian gold miner Barrick Gold Corporation says progress has been made in discussions between the company and the Tanzanian government on the drafting of definitive agreements that are necessary for the implementation of proposed framework agreement with Barrick’s 63.59% owned and independently... 

Barrick’s talks with Tanzanian govt progressing
Barrick subsidiary Acacia Mining's Bulyanhulu mine.

African Rainbow Minerals, Glencore agree to restructure coal debt

By: Marleny Arnoldi     Updated 5 hours ago Diversified miner African Rainbow Minerals (ARM) on Monday announced that R3.98-billion of debt owed by ARM and its subsidiary ARM Coal to diversified miner Glencore Holdings subsidiary Glencore Operations South Africa (Gosa) as at June 30, 2017, has been restructured on an ARM attributable basis.  

Sunrise illuminates Clean TeQ value

By: Esmarie Swanepoel     25th June 2018 The Sunrise cobalt/nickel project, in New South Wales, is expected to deliver some $14-billion in revenue over its first 25-year mine life, ASX- and TSX-listed Clean TeQ reported. A definitive feasibility study (DFS) found that the project would generate an average annual earnings before... 

Sunrise illuminates Clean TeQ value

Equinox separates copper and gold assets

By: Creamer Media Reporter      25th June 2018 Canadian junior Equinox Gold has announced the creation of a standalone company – Solaris Copper – to advance its exploration-stage copper projects Ecuador, Mexico, Chile and Peru. Equinox will own 40% in Solaris Copper, which will not initially be listed on a stock exchange listing, with the... 

Codelco says unions at Salvador mine reject early wage deal

By: Reuters     25th June 2018 Chile's Codelco, the world's top copper miner, said late on Friday evening that workers' unions at its small Salvador copper division had rejected an early wage deal from the company, pushing off further negotiations until later this year when its contract expires. The State-run miner said... 

Minerals Council said to plan free-carry challenge

By: Bloomberg     25th June 2018 South Africa’s main mining lobby group told analysts and mining companies that it would probably challenge a final draft of the government’s new Mining Charter if two key points of dispute aren’t removed, according to two people familiar with the matter. The Minerals Council South Africa, which... 

Minerals Council said to plan free-carry challenge
Photo by Dylan Slater
Mineral Resources Minister Gwede Mantashe

Orion raises A$11m for Prieska

By: Esmarie Swanepoel     25th June 2018 ASX- and JSE-listed Orion Minerals has raised A$11-million through a share placement to progress its Prieska zinc/copper project, in South Africa's Northern Cape province. The company on Monday said that the shares, priced at 3.7c each, would be placed in two tranches, with the first consisting... 

Orion raises A$11m for Prieska
Orion CEO Errol Smart

Polish copper producer KGHM appoints new CEO

By: Reuters     25th June 2018 Poland's State-run KGHM, one of the world's biggest copper and silver producers, has appointed Marcin Chludzinski as its new CEO, the company said on Friday. Chludzinski has been the head of the State-run Industrial Development Agency. Local media, including Puls Biznesu, had reported he was the... 

CITU raises first red flag on Coal India disinvestment

By: Ajoy K Das     25th June 2018 The Centre for Indian Trade Unions (CITU), the labour arm of Communist Part of India (Marxists), is first off the block in raising opposition to tentative plans for disinvestment of government equity holding in Coal India Limited (CIL). After failing to get any bidders for national air carrier... 

Chile's SQM decides not to hire ex-chair Ponce as adviser

By: Reuters     25th June 2018 Chile lithium miner SQM said on Friday it had decided against hiring former chairman Julio Ponce as an adviser, reversing a decision that had sparked criticism from politicians and Chile's business community. SQM announced plans to hire Ponce earlier in June, just months after the miner inked a... 

Xtract reviewing new contractor proposals for Western half of Manica mine

By: Marleny Arnoldi     25th June 2018 Diversified miner Xtract Resources continues to review new contractor proposals for the Western half of its Manica gold project, in Mozambique, after previous contractor Moz Gold’s gold recovery rate was found to be unsatisfactory as a result of the fine nature of the gold and the processing... 

Tantalum miner threatens expansion at Australia's biggest lithium mine

By: Reuters     25th June 2018 A partner in one of the world's largest lithium mines said on Monday trial dates have been set to determine whether expansion at the Western Australian mine, in which China's Tianqi Lithium holds a stake, would unfairly impact its minerals rights. Private-equity backed Global Advanced Metals... 

Artemis and Novo agree to exploration budget

By: Esmarie Swanepoel     25th June 2018 Joint venture (JV) partners Artemis Resources and Novo Resources have agreed to a A$5.4-million exploration and work programme budget in Western Australia. In the first four months of the 12 month period, the JV will focus on bulk sampling, diamond drilling and costeaning activities, primarily... 

Galantas reaches main gold vein at Omagh

By: Creamer Media Reporter      Updated 5 hours ago Underground development at the Omagh gold mine, in Northern Ireland, has reached the main Kearney gold vein, TSX-V- and Aim-listed Galantas Gold reported on Monday. The vein intersection is about some 15 m below the base of the Kearney openpit. 

Western Australian gold juniors Excelsior and Spitfire merge

By: Esmarie Swanepoel     25th June 2018 Juniors Excelsior Gold and Spitfire Materials have struck a court-approved merger agreement to create a gold company with a diversified portfolio of exploration and development assets. The merger will be implemented through a scheme of arrangement, with Spitfire will acquire all of the issued... 

Western Australian gold juniors Excelsior and Spitfire merge

Orion accelerating on all fronts, looking to upscale production

By: Martin Creamer     Updated 5 hours ago ASX- and JSE-listed Orion Minerals has raised an additional A$11-million through a share placement so that it can accelerate on all fronts. This equity capital raising funds the company beyond the bankable feasibility study (BFS) to progress its Prieska zinc/copper project, in South Africa's... 

Orion accelerating on all fronts, looking to upscale production
Photo by Creamer Media
Orion Minerals CEO Errol Smart

Kibo proposes name change as it intensifies focus on energy projects

By: Anine Kilian     25th June 2018 Dual-listed Kibo Mining is seeking shareholder approval to change the name of the company to Kibo Energy. The company said in a statement on Monday that the proposed name change was part of a number of resolutions that would be put forward at its annual general meeting, taking place on July 1. 

Neometals adds more nickel to Mt Edwards

By: Esmarie Swanepoel     25th June 2018 ASX-listed Neometals has reported a 155% increase in the contained nickel at its Mt Edwards project, in Western Australia. The significant increase in the maiden mineral resource, which was announced in April this year, resulted from the inclusion of four additional deposits, after Neometals in... 

Apollo get clearance for Couflens buy

By: Esmarie Swanepoel     25th June 2018 The French Ministry of Economy and Finance has given approval for ASX-listed Apollo Minerals to acquire the remaining 20% interest in the Couflens s tungsten/copper/gold project. Apollo in March this year struck a deal with fellow-listed Variscan Mines to acquire the remaining interest in the... 

Core aims to establish NT's first lithium mine

By: Esmarie Swanepoel     25th June 2018 A prefeasibility study (PFS) into the Finniss lithium project, in the Northern Territory, has estimated a pre-production capital requirement of A$53.5-million to develop a one-million tonne a year operation producing 225 000 t/y of lithium concentrate. ASX-listed Core Exploration on Monday said... 

Northern Territory lures more explorers

By: Esmarie Swanepoel     25th June 2018 The Northern Territory government has recorded the largest number of applications to date for its geophysics and drilling collaboration programme as part of its A$26-million Resourcing the Territory initiative. Minister for Primary Industry and Resources Ken Vowles said changes to the programme... 

Phase 1 processing plant testwork proves positive for AfriTin’s Namibia mine

By: Marleny Arnoldi     25th June 2018 Aim-listed AfriTin Mining has completed additional dense medium separation testwork for the upgraded Phase 1 processing plant at its Uis tin mine, in Namibia.  

Chaarat appoints Volynets CEO, moves Benbow to COO

By: Creamer Media Reporter      Updated 4 hours ago Aim-quoted Chaarat has appointed merger and acquisition (M&A) strategist Artem Volynets as CEO with immediate effect, replacing Robert Benbow who is moving to the role of COO. Volynets, who joined the board of Chaarat in March, has two decades of experience in M&A, capital markets, and senior... 

Alderon bolsters its board with Morier appointment

By: Creamer Media Reporter      25th June 2018 TSX-listed Alderon Iron Ore has appointed Rolland Morier, an executive with expertise in financial management, business strategy, aboriginal land claims and government relations, to its board of directors. Alderon expects Morier to provide support and guidance in strengthening existing... 

WPG lowers production expectations

By: Esmarie Swanepoel     25th June 2018 Gold producer WPG Resources has again lowered its full-year production expectations as its Challenger mine, in Western Australia, continued to disappoint. WPG previously forecast a combined production of between 58 000 oz and 60 000 oz for its Challenger and Tarcoola operations. However, the... 

Edenville, Sinohydro extend MoU to December 2019

By: Marleny Arnoldi     Updated 5 hours ago Energy commodity developer Edenville Energy has extended the validity of its memorandum of understanding (MoU) with hydropower engineering company Sinohydro Corporation of China, over the Rukwa coal project, in south-west Tanzania, to December 2019.  

Tango mobilises additional processing equipment for processing Oena tailings

By: Marleny Arnoldi     Updated 5 hours ago Diversified junior miner Tango Mining has produced 95 diamonds, weighing 152.63 ct, at its Oena alluvial diamond operation, in South Africa’s Northern Cape province, for the production period ending June 14.  

Flinders eyes A$9.4m capital raise

By: Esmarie Swanepoel     25th June 2018 ASX-listed Flinders Mines is hoping to raise A$9.4-million trough a 1-for-25 non-renounceable entitlement offer. The entitlement offer will consist of more than 134.6-million fully paid ordinary shares, priced at 7c each. The offer price represents a 23.7% discount to Flinder’s 30-day... 

Ammaroo gets federal enviro nod

By: Esmarie Swanepoel     25th June 2018 The Ammaroo phosphate project, in the Northern Territory, has received federal environmental approval, bringing the project one step closer to its targeted construction start in early 2019. ASX-listed Verdant Minerals said on Monday that the federal approval represented a significant milestone... 

Strong rand to impact on Kumba's interim earnings

By: Creamer Media Reporter      Updated 5 hours ago Kumba Iron Ore says the stronger rand and lower export iron-ore prices negatively impacted on its headline earnings and earnings for the six months to June 30. In a trading update on Monday, the iron-ore miner said its headline earnings and earnings are likely to be at least R921-million and... 

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