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Chevron’s A$340m tax bill appeal in Australia dismissed

By: Esmarie Swanepoel     24th April 2017 The federal government has welcomed a Full Federal Court decision to dismiss oil and gas giant Chevron’s appeal of a A$340-million Australian Taxation Office (ATO) bill. The court dismissed Chevron’s appeal against an ATO ruling that the US giant had used an intra-company loan as a means to shift... 

Chevron’s A$340m tax bill appeal in Australia dismissed

Tegeta coal prepayment not a loan says Eskom

By: News24Wire      22nd April 2017 The over R600-million Eskom paid to Tegeta, a company in which the Gupta family has interests, was not a loan, but a prepayment, the state-owned power utility said on Saturday. Eskom also wanted it made clear that Tegeta honoured its side of the agreement by delivering all the pre-paid coal,... 

Syrah awards logistics contract to Grindrod

By: Esmarie Swanepoel     24th April 2017 Graphite developer Syrah Resources has awarded the graphite distribution and logistics services supply contract at its Balama project, in Mozambique, to JSE-listed Grindrod Mauritius. The contract includes the provision of long haul trucking services for graphite concentrate from the Balama site... 

Kibali mine on track to increase production, but DRC policies a concern

By: Megan van Wyngaardt     19th April 2017 The underground operation at Randgold Resources’ Kibali gold mine is on track for commissioning to start in the third quarter of this year, which will significantly increase production. The Democratic Republic of Congo- (DRC-) based mine is forecast to deliver around 610 000 oz of gold this year,... 

Kibali mine on track to increase production, but DRC policies a concern
Photo by Duane Daws
CEO Mark Bristow

South Africa's Sibanye declares war on illegal gold miners

By: Reuters     21st April 2017 Illegal gold mining has plagued South Africa's mining companies for decades, robbing the industry and state coffers of billions of rand through smalltime pilfering as well as networks run by organised crime. Now, with unmined output dwindling and proving more diff cult to extract, one firm has... 

Application filed for winding-up of Eastern Platinum

By: Martin Creamer     19th April 2017 British Virgin Islands company AlphaGlobal Capital has applied in the Gauteng Division of the High Court in Pretoria for the winding-up of Eastern Platinum (Eastplats), a platinum group metals (PGM) company listed in Toronto and Johannesburg, which is said in filed court papers to be unable to... 

Tanzania export ban weighs on Acacia’s Q1 cash flow

By: Megan van Wyngaardt     20th April 2017 The Tanzania Ministry of Energy and Minerals’ decision to introduce a general ban on the export of metallic mineral concentrates has had a $33-million negative impact on Acacia Mining’s cash flow for the first quarter, ended March 31. The Ministry announced the ban on March 3, following a... 

Tanzania export ban weighs on Acacia’s Q1 cash flow
Acacia CEO Brad Gordon

Paladin output falls in line with reduced mining plan

By: Esmarie Swanepoel     19th April 2017 Uranium oxide (U3O8) production from the Langer Heinrich mine, in Namibia, fell by 26% during the three months to March as production was impacted by the first full quarter of a reduced mining plan. Miner Paladin Energy on Wednesday reported that production from the Langer Heinrich mine reached... 

Mining majors' shares pull back as iron, copper prices retreat

By: Henry Lazenby     18th April 2017 Major miners saw their respective stocks pull back on Tuesday on the back of weaker iron-ore and base metals prices, despite the latest Chinese economic data showing better-than-expected growth in the first quarter of 2017. Major miners traded in the red on Tuesday, including the world’s largest... 

Mining majors' shares pull back as iron, copper prices retreat

Sibanye wins US thumbs up for Stillwater acquisition

By: Martin Creamer     18th April 2017 Precious metals mining company Sibanye has received unconditional approval from the Committee on Foreign Investment into the United States on the proposed acquisition of platinum group metals mining company Stillwater, which mines and processes the metals in Montana. Johannesburg- and New... 

Sibanye wins US thumbs up for Stillwater acquisition
Photo by Duane Daws
Sibanye CEO Neal Froneman

Glencore cobalt supplies in Congo face hold up over mine row

By: Bloomberg     19th April 2017 A dispute between State-owned Gecamines and its joint venture partner at a Congolese cobalt mine that supplies Glencore threatens to halt the supply of as much as 4% of the metal within two months. Jersey-registered GTL, a joint venture between Gecamines and closely held Groupe Forrest... 

Strengthening fundamentals continue to bolster ‘new age’ metals outlook

By: Henry Lazenby     22nd April 2017 ‘Big money’ investors are increasingly looking to invest in the relatively small ‘new-age metals’ space, comprising metals such as lithium, graphite and cobalt, as strengthening fundamentals for these minerals and an unprecedented high-impact investment opportunity draw the potential for bonanza... 

Strengthening fundamentals continue to bolster ‘new age’ metals outlook

Strongbow’s South Crofty to revive age-old tin mining tradition in Cornwall 

By: Henry Lazenby     21st April 2017 Bolstered by strengthening tin prices and improving fundamental support in the long term, Canadian mineral exploration firm Strongbow Exploration is set to revive a mining tradition in England’s county of Cornwall, that reaches back thousands of years to the early Bronze Age. The company’s... 

Strongbow’s South Crofty to revive age-old tin mining tradition in Cornwall

Mugabe impatient over pace of mining reform

By: Reuters     18th April 2017 Zimbabwe's mining industry needs to be "reorganised" so that it contributes more towards the African country's economy, President Robert Mugabe said on Tuesday. Although he did not give details on what form the transformation would take, his government has, in recent years, pressured mining firms... 

Despite slower growth, China still key market for miners and Africa

By: Keith Campbell     21st April 2017 There can be no doubt that, for the past two decades-and-a-half or so, the biggest single influence on the global mining industry has been China. Between 2002 and 2012, that country experienced an annual average real gross domestic product (GDP) growth rate of 10.4%, compared with India’s 7.6%,... 

Despite slower growth, China still key market for miners and Africa

Bengalla hopes to stall Mt Pleasant work

By: Esmarie Swanepoel     19th April 2017 Coal miner New Hope Corporation on Wednesday reported that its 40%-held subsidiary, Bengalla Mining Company (BMC) has started proceedings in the Land and Environment Court in New South Wales, to prohibit MACH Energy Australia from carrying out further development of its Mount Pleasant project.... 

Conflict-free cobalt to remain industry question, opportunity as DRC dominates supply

By: Henry Lazenby     22nd April 2017 Sourcing conflict-free cobalt for application in new technologies, such as lithium-ion batteries, will remain both a concern and an opportunity for manufacturers for years to come, as production is dominated by the politically unstable Democratic Republic of Congo (DRC). The Central African... 

World's nutrient-poor farms get a vitamin boost from zinc mines

By: Bloomberg     18th April 2017 Injecting an industrial metal back into the ground could prove a boon for farmers and miners alike. The metal is zinc. Used mostly to reduce corrosion in iron and steel, zinc also is needed in trace amounts to keep humans and plants healthy. Without it in their diets, people are prone to... 

World's nutrient-poor farms get a vitamin boost from zinc mines

ASA Resources removes CEO, FD over alleged financial mismanagement

By: Megan van Wyngaardt     18th April 2017 ASA Resources has removed its CEO Yat Hoi Ning over alleged financial irregularities. It has also removed its FD Yim Kwan from his position, effective immediately. The executives will now face disciplinary action. 

ASA Resources removes CEO, FD over alleged financial mismanagement

Rockwell files for business rescue; will retain company operations in the interim

By: Mia Breytenbach     18th April 2017 Dual-listed alluvial diamond miner Rockwell Diamonds has filed for business rescue, which will ensure any liquidation order is automatically stayed. This follows after a judge in Kimberley on March 23 issued an interim liquidation order against subsidiaries Rockwell Resources RSA, HC van Wyk... 

Universal's NCC produces its first opencast coal

By: Esmarie Swanepoel     19th April 2017 South Africa-focused coal miner Universal Coal has produced the first run-of-mine coal from its New Clydesdale Colliery (NCC) opencast development. Universal said on Wednesday that opencast mining would ramp up over the next quarter, reaching steady state in the second half of 2017 and... 

BHP announces Qld coal investment

By: Esmarie Swanepoel     21st April 2017 Mining giant BHP Billiton and its coal joint venture (JV) partner Mitsubishi have approved a $204-million investment in the Caval Ridge Southern Circuit (CRSC) project, in central Queensland. The project will create up to 400 new construction jobs and will require 200 ongoing operational roles. 

BHP announces Qld coal investment

Alphamin appoints Swanepoel, Baloyi to board; starts mine boxcut construction

By: Megan van Wyngaardt     20th April 2017 TSX-listed Alphamin Resources, which is developing the Bisie tin project, in the Democratic Republic of Congo, has appointed Bernard Swanepoel and Paul Baloyi to its board. Swanepoel currently also serves on the boards of miners Impala Platinum, Zimplats, eXtract Limited, African Rainbow Minerals... 

Rio Tinto iron-ore, coal production hit by heavy rains

By: Esmarie Swanepoel     20th April 2017 Diversified giant Rio Tinto has seen production decline across its asset portfolio, as the Western Australia and Queensland operations were impacted by wet weather conditions during the three months to March. Iron-ore production from the Pilbara operations declined by 10% compared with the... 

Rio Tinto iron-ore, coal production hit by heavy rains

ASA Resources says $4.3m unaccounted for, but operations continue

By: Megan van Wyngaardt     19th April 2017 Following its decision to remove its CEO and FD over alleged financial irregularities, Aim-listed ASA Resources on Wednesday revealed that $4.3-million has been unaccounted for. The miner on Tuesday said it had removed its CEO Yat Hoi Ning and FD Yim Kwan after an investigation initiated by the... 

NUM declares dispute with Evander Gold Mines

By: Anine Kilian     18th April 2017 The National Union of Mineworkers (NUM) has declared a dispute with Evander Gold Mine, a subsidiary of Pan African Resources, saying the company refused to implement both the voluntary separation package (VSP) and retrenchment agreement.   “During our engagements with the company, the number of... 

Gold's top forecaster says prices may hit $1 350 by year-end

By: Bloomberg     19th April 2017 Gold will end the year higher, spurred by faster inflation and political tensions in Russia, Syria and North Korea, according to Intesa Sanpaolo, the best forecaster for the metal last quarter. Prices could take a V-shaped path this year, with a swoon coming mid-year as the Federal Reserve raises... 

Americas Silver gains momentum in transition to low-cost producer by 2018

By: Henry Lazenby     19th April 2017 Bolstered by improving silver and base metals prices, junior miner Americas Silver is in the home stretch to deliver on a four-year turnaround strategy at its two operating mining complexes in Sinaloa state, Mexico and Idaho, in the US. “We have a lot of intrinsic value that’s about to be... 

Americas Silver gains momentum in transition to low-cost producer by 2018

Newmont reveals Ahafo underground mine, mill expansion plans to lift output 50%

By: Henry Lazenby     21st April 2017 US-based gold major Newmont Mining has announced investment plans to the value of $380-million for a new underground mine and a 50% plant expansion at the Ahafo mine, in Ghana. The Subika underground mine is projected to produce 1.8-million ounces of gold over an 11-year mine life, and features... 

Newmont reveals Ahafo underground mine, mill expansion plans to lift output 50%
Photo by Newmont Mining
The Ahafo mill expansion, in Ghana, will increase mill capacity to nearly ten-million tonnes

PTM secures $20m bought deal financing

By: Henry Lazenby     19th April 2017 South Africa-focused miner Platinum Group Metals (PTM) has reached agreement with BMO Capital Markets to buy on a bought deal basis 15.39-million common shares of the company at $1.30 apiece for gross proceeds of about $20-million. Vancouver-based PTM said on Tuesday that it would use the net... 

Capricorn copper mine to reopen in October

By: Esmarie Swanepoel     20th April 2017 The Queensland government has granted the A$152-million Capricorn copper mine, near Mount Isa, prescribed status in order to assist in the restart of operations. The Capricorn mine, which was previously known as Mt Gordon, was sold to privately held Lighthouse Minerals and its joint venture (JV)... 

Quebec govt approves Canadian Malartic openpit expansion

By: Henry Lazenby     20th April 2017 The Quebec provincial government, under the leadership of Quebec Liberal Party premier Philippe Couillard, has approved the proposed $200-million expansion of the Canadian Malartic mine, owned and operated in a 50:50 joint venture by Agnico Eagle Mines and Yamana Gold. The expansion will see the... 

Universal posts record sales

By: Esmarie Swanepoel     21st April 2017 South Africa-focused coal miner Universal Coal has reported record sales and record operating cash flows during the three months to March, despite an 11% drop in production. Run-of-mine coal production for the quarter fell to 905 000 t, from 1.02-million tonnes in the December quarter, with... 

Universal posts record sales

Edenville’s coal wash plant nearly ready for shipment to Tanzania

By: Anine Kilian     19th April 2017 The coal wash plant for use at Edenville Energy’s Rukwa coal mine has been delivered to port in the UK and inspected and cleared by the appropriate authorities, ready for shipment to Tanzania. The first of the shipments is expected to leave the UK this month and will take six weeks to arrive in... 

Freeport collects export permit after Pence visit

By: Reuters     23rd April 2017 Freeport McMoRan collected a permit to resume copper exports from Indonesia on Friday after a hiatus of more than three months, hours after a state visit by US Vice President Mike Pence, who discussed the copper miner's dispute with Jakarta. Indonesia's Trade Ministry issued Freeport with a... 

Freeport collects export permit after Pence visit
US Vice President Mike Pence and Indonesian President Joko Widodo

El Salvador freezes OceanaGold bank accounts, assets over $8m payment

By: Reuters     19th April 2017 El Salvador froze bank accounts and assets belonging to OceanaGold after the mining company refused to pay the country $8-million as mandated by an international court, the Attorney General's Office said on Tuesday. Last year, El Salvador won an arbitration at the World Bank's International... 

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