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African Potash raises £1.2m to fund projects

By: Megan van Wyngaardt Exploration company African Potash has secured £1.2-million in funding through the placing of new ordinary shares with Cornhill Capital. Placing proceeds would enable the company to redeem the outstanding convertible securities held by financier Bergen Opportunity Fund and to fund ongoing working... 

Indonesian tin group says members won't sell below $17 000/t

By: Reuters Indonesia's tin association said on Friday its members and PT Timah, the country's biggest tin exporter, will not trade the metal at prices below $17 000 a tonne, seeking to stem a sharp sell-off. Tin prices on the London Metal Exchange have fallen more than 13% this week, hitting their lowest... 

South32 spin-off from BHP turns bearish

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about the planned spin-off of South32 from BHP Billiton turning bearish, with an unprecedented number of ‘sell’ recommendations by analysts. 

South32 spin-off from BHP turns bearish

Apart from Big 3, iron ore miners face 'existential' threat -Goldman

By: Reuters Up to half of iron-ore output by miners outside the three mega producers in Australia and Brazil is at risk of closure with global demand set to peak at about 1.4-billion tonnes next year, Goldman Sachs said. Production volumes among top miners - Vale, Rio Tinto and BHP Billiton - was not at... 

MMG weighs new plan for Dugald River

By: Esmarie Swanepoel Hong Kong-listed MMG on Thursday reported that it was considering lower yearly throughput, over a longer mine life, for its Dugald River zinc/lead/silver project, in Queensland. The miner said that an updated development plan for the Dugald River mine was under consideration, following the 2014... 

Goldman Sachs bullish on South Africa as favourable investment destination 

By: Martin Creamer Leading global investment banking, securities and investment management firm Goldman Sachs is bullish on South Africa, which it regards as a favourable destination for fund managers because of the depth of its capital market and the scarcity of other emerging market options. Goldman Sachs... 

Goldman Sachs bullish on South Africa as favourable investment destination
Photo by Duane Daws
Colin Coleman

Australia's Waratah Resources to launch Islamic commodities venture

By: Reuters Sydney-based Waratah Resources Limited plans to launch an Islamic commodities trading business as it shifts focus from Asian markets to the Middle East, the company said in a statement. The move adds to a growing number of firms keen to tap into an Islamic finance market that is developing... 

No swift recovery seen for copper market amid surplus, weak demand

By: Reuters The copper market will not get any respite from weak prices and excess supplies any time soon, even after recent hefty cost cutting and project delays have removed more than a million tonnes of new capacity, top executives said on Tuesday. Speaking at the CRU Copper conference, the executives... 

No swift recovery seen for copper market amid surplus, weak demand

'Blood-free' minerals scheme must be binding, EU lawmakers say

By: Reuters European importers of minerals from conflict zones should be forced to certify their goods "blood-free", an influential group of EU lawmakers said on Tuesday, seeking to toughen a proposal to prevent the financing of warlords in Africa. Much of the gold, tantalum, tin and tungsten used in... 

Platinum prices to average $1 500/oz in 2016 – Natixis

By: Martin Creamer Platinum prices will average $1 500/oz in 2016 and $1 285/oz this year, French bank Natixis forecasts in its metals review for the first half of 2015. Platinum is currently trading at a far lower $1 147/oz with recycled metal and above-ground stocks still playing a price-restraining role. 

Platinum prices to average $1 500/oz in 2016 – Natixis

India’s potash imports forecast to rise

By: Ajoy K Das Indian potash imports will likely increase to a four-year high of about five-million tonnes in the 2015 financial year, which started on April 1. This will be the highest level of imports since 2011, when India went into a self-imposed “potash import holiday”. 

Severstal needs partner to bring Liberia iron-ore mine online

By: Reuters Russian steelmaker Severstal said on Monday that it will not be able to bring its Liberian iron ore project on line without a partner to help with investment and share risk amid a slump in world ore prices. Russia's second-biggest steel producer owns 100% of the Putu project – a 13 km (8 mile)... 

S&P's warns of imminent downgrade for several miners

By: Reuters Standard & Poor's warned on Monday it may soon downgrade several miners as it lowered its iron ore price estimates for the next couple of years. S&P's said in a statement it was placing on watch negative the credit ratings of Vale SA, Rio Tinto, BHP Billiton, Anglo American, CAP SA, Exxaro... 

South32 turns bearish as tax inquiry, iron-ore put ‘sell’ skids under BHP

By: Martin Creamer With the shareholder vote just over three weeks away, the planned spin-off of South32 from BHP Billiton has turned bearish and BHP Billiton has itself fallen victim to an unprecedented number of analyst sell recommendations owing to the plummeting iron-ore price, worsened by the reputational... 

South32 turns bearish as tax inquiry, iron-ore put ‘sell’ skids under BHP
Photo by Duane Daws
The BHP Billiton building in central Johannesburg

India won't consider free pricing regime for commercial coal miners

By: Ajoy K Das While the Indian government is moving ahead to open up the coal sector for commercial mining by private sector investors, the Coal Ministry has ruled out any free pricing regime, considering the shortage of the dry fuel in the country. The government would shortly launch the third phase of the... 

Gold Fields goes it alone in clinching non-centralised three-year wage deal

By: Martin Creamer Gold Fields has opted to negotiate outside of the traditional centralised bargaining format in clinching a three-year, 10%-a-year wage agreement at its fully mechanised, 3 500-employee South Deep gold mine, leaving the other five Chamber of Mines (CoM) gold mining companies to continue to adhere... 

Gold Fields goes it alone in clinching non-centralised three-year wage deal
Tough gold talks on way

Glencore to shift Singapore coal office to Australia

By: Reuters Glencore, the world' biggest exporter of thermal coal, said on Friday it will close its Singapore sales office to consolidate the business in Australia. The move comes amid media reports that Australia is pursuing rival miners BHP Billiton and Rio Tinto for shifting billions of dollars in iron... 

Indian iron-ore miners’ woes persist as govt disregards pleas to slash 30% export tax

By: Ajoy K Das An unlimited power to tax involves, necessarily, a power to destroy; because there are limits beyond which no institution and no property can bear taxation.” – John Marshall (1755-1835) Indian iron-ore miners could well be lamenting that the country’s fiscal managers are seemingly unfamiliar with... 

Indian iron-ore miners’ woes persist as govt disregards pleas to slash 30% export tax

Indian group seeks uses for unwanted thermal coal from Mozambique operation

By: Keith Campbell Unable to find customers for the thermal coal it is producing at its Benga mine in the Tete province of Mozambique, Indian company International Coal Ventures Limited (ICVL) has been looking for companies willing to establish chemical and power plants at the mine. These would use the thermal coal... 

Iron-ore in fresh crisis as forward prices crumble

By: Reuters Iron-ore is veering to a new crisis as prices for future delivery of the commodity slide 30% in the space of a month, and its outlook is now more bearish than oil and more dire than ever for miners struggling to just stay in business. Prices of the steel-making ingredient for immediate delivery... 

Centerra Gold, Kyrgyz govt Kumtor JV negotiations hit renewed uncertainty

By: Henry Lazenby Negotiations between Canadian miner Centerra Gold and the Kyrgyzstan government have reached renewed uncertainty after the country’s Prime Minister, Djoomart Otorbaev, suggested to the Kyrgyz Republic Parliament and local media that the restructuring of the Kumtor gold mine as a 50/50 joint... 

Centerra Gold, Kyrgyz govt Kumtor JV negotiations hit renewed uncertainty
Photo by Centerra Gold
Centerra Gold's Kumtor mine, in Kyrgyzstan.

Kumba Iron Ore opens clinic as Minister visits award-winning housing complex

By: Martin Creamer Kumba Iron Ore top brass and Mineral Resources Minister Ngoako Ramatlhodi on Thursday launched a new R8.8-million clinic and visited the Anglo American company’s award-winning 718-employee-house complex in the Northern Cape. “We believe that these projects will go a long way in addressing the... 

Kumba Iron Ore opens clinic as Minister visits award-winning housing complex
Photo by Duane Daws
Norman Mbazima

Gold to average $1 170/oz in 2015 – Thomson Reuters

By: Martin Creamer Gold would sell at an average price of $1 170/oz during 2015 and rise to an average of $1 250/oz in 2016, the Gold Fields Mineral Services (GFMS) team at Thomson Reuters forecast on Thursday. GFMS’s forty-ninth yearly gold survey found that the gold price had already bottomed in local currency... 

Gold to average $1 170/oz in 2015 – Thomson Reuters
Photo by Bloomberg
Gold bar

Medusa pulls trigger on new service shaft at Co-O

By: Esmarie Swanepoel ASX-listed gold miner Medusa has approved a $10-million spend at its Co-O mine, in the Philippines, to develop a service shaft to level 8, about 390 m below the surface. “The service shaft will greatly improve the efficiency of the Co-O mine with respect to the transport of men and materials,... 

Alcoa now sees global aluminum surplus of 326 000 t in 2015

By: Reuters The world aluminium market will see a surplus of 326 000 tonnes in 2015, an executive at Alcoa said following a presentation of the company's first-quarter 2015 earnings on Wednesday. That surplus forecast differed sharply from the aluminium producer's January estimate of a 38 000 t deficit for... 

Cash-fixated Gold Fields cleans up on marginal mining 

By: Martin Creamer South African mining company Gold Fields has cleaned up on marginal mining and wired itself for cash generation. Gold Fields’ three-year effort to put an end to marginal mining is backed up by strong filters to ensure that mining always generates cash, Gold Fields group competent person Tim... 

Cash-fixated Gold Fields cleans up on marginal mining
Photo by Duane Daws
Tim Rowland

Management, NUM agree to end manganese strike

By: Martin Creamer Mine management and the local leadership of the National Union of Mineworkers (NUM) have reportedly jointly agreed to end the unprotected strike at the BHP Billiton-managed Hotazel manganese operations in the Northern Cape. BHP Billiton South Africa communications manager Patrick Wadula said in a... 

Management, NUM agree to end manganese strike
Mamatwan manganese smelter at Hotazel.

China plans to subsidise iron ore miners after price slump – paper

By: Reuters China is drawing up plans to subsidise its struggling iron ore sector, official media reported on Wednesday, with many high-cost mines forced to shut as a result of a collapse in global prices. China, the world's biggest steel producer, has long been worried by its growing dependence on foreign... 

India eyes 20 coal blocks for bidding in third round of auctions

By: Ajoy K Das The Indian government is likely to offer 20 coal blocks, with combined estimated reserves of three-billion tonnes, for the third round of auction to private investors with coal end-use projects. Indications available from officials in the Coal Ministry hinted that in order to hasten investments... 

India seeks list of provincial mineral assets

By: Ajoy K Das The Indian government has directed provincial governments to submit a comprehensive list of all functional and nonfunctional mines within their respective geographies to finalise mineral assets to be put up for auction for the first time. The Mines Ministry has sought the list detailing the... 

Lubuk Mandi pours its first gold

By: Esmarie Swanepoel The Lubuk Mandi mine, in Malaysia, has poured its first gold, ASX-listed GBM Resources reported on Wednesday. GBM, which owns a 36% interest in the project, told shareholders that the first gold pour demonstrated that the process and equipment at the Lubuk Mandi mine were functioning as planned. 

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