R/€ = 15.74 Change: -0.37
R/$ = 13.93 Change: -0.35
Au 1337.85 $/oz Change: -2.92
Pt 1108.00 $/oz Change: 0.50

Asia News

Executives believe they can survive lower metals outlook – KPMG

By: Megan van Wyngaardt     23rd August 2016 Fewer than half of senior metals executives responding to KPMG International’s 2016 Global Metals & Mining Outlook survey voiced any level of confidence in the prospects for the global economy over the next two years. This was particularly concerning given the tight relationship between the... 

Entrepreneurs pursuing gold dump projects, ‘pennyweight’ opportunities at depth 

By: Martin Creamer     23rd August 2016 Fresh from developing seven superb gold projects in Africa, mining project company DRA is excited about new gold project opportunities opening up in South Africa, where its sees much potential in gold tailings retreatment and also in underground gold deposits that are still rated in the... 

Entrepreneurs pursuing gold dump projects, ‘pennyweight’ opportunities at depth
DRA global executive process Glenn Bezuidenhout outlines gold project potential to Mining Weekly’s Martin Creamer. Photographs: Duane Daws. Video: Nicholas Boyd.

India to assess if Bunder diamond mine viable after Rio’s exit

By: Bloomberg     23rd August 2016 A day after Rio Tinto announced plans to shut the Bunder diamond mine in central India, the Mines Ministry said it will analyse if mining at the site is viable because of environmental concerns. The deposit is located in an ecologically sensitive zone and it’s not clear if the mine can be... 

India creates ecosystem to support its new mineral exploration policy

By: Ajoy K Das     23rd August 2016 In a bid to create a suitable ecosystem around the newly unveiled National Mineral Exploration Policy (NMEP), the Indian government has decided to create a National Geoscience Data Repository (NGDR) under Geological Survey of India (GSI) and a National Center for Mineral Targeting (MCMT), the... 

Old rings are treasure as gold rally revives scrap recycling

By: Bloomberg     23rd August 2016 The surprising rebound in gold prices this year has given new life to unwanted jewelry, coins and trinkets – in the melting pot. More than a third of the world’s bullion supply usually comes from recycled metal, but purchases at pawn shops and cash-for-gold companies had slowed during a... 

Citigroup says this ‘hot commodity’ is destined to cool off soon

By: Bloomberg     23rd August 2016 Iron-ore, dubbed by Citigroup as one of the hot commodities of 2016, looks set to cool off. Prices may sag toward the end of the year and into 2017 as supply rises and steel demand fades, the bank said, adding to the list of banks that are calling time on an unexpected rally. The raw material... 

Citigroup says this ‘hot commodity’ is destined to cool off soon

India readies policy for disposal of washery rejects, surplus coal production

By: Ajoy K Das     22nd August 2016 India’s Coal Ministry is ready to unveil a comprehensive policy on the disposal of washery rejects, middlings and coal surplus by private miners in a bid to streamline the process of attracting private sector investment in adding value to the dry fuel. The Coal Ministry will convene a... 

Gold mining not spending enough to sustain industry into future – Holland

By: Martin Creamer     22nd August 2016 The gold mining industry is not spending enough to sustain the industry into the future. Slowed primary gold supply growth is making a case for the belief that the industry may be close to hitting a peak in production amid slower exploration spend and a virtual halt to new projects. 

Gold mining not spending enough to sustain industry into future – Holland
Photo by Duane Daws
Gold Fields CEO Nick Holland

Glencore ‘vindicated’ on zinc supply cuts, Morgan Stanley says

By: Bloomberg     22nd August 2016 Glencore’s decision to cut zinc output to fight a rout in prices last year has been vindicated as the metal has rallied in 2016, according to Morgan Stanley, which held out the possibility that the commodity trader may order restarts. “It turns out, cutting/waiting was a good plan,” Morgan... 

Glencore ‘vindicated’ on zinc supply cuts, Morgan Stanley says
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

We did it, you should too: Ore-ban talk gathers pace in Asia

By: Bloomberg     22nd August 2016 The Philippines should follow Indonesia’s lead and prohibit the export of raw metal ores, according to National Development Planning Minister Bambang Brodjonegoro, who said he was a big supporter of the curbs imposed by his country and results so far have been a success. The restrictions have... 

Rio Tinto to close Bunder diamond project in India to cut costs

By: Bloomberg     22nd August 2016 More than a decade since its discovery, Rio Tinto said Monday it will shut its Bunder diamond mine in central India by the end of the year, as the world’s second-biggest miner seeks to cut costs and conserve cash. Bunder remains a top-class diamond deposit and Rio Tinto will work with the... 

CIC said to pursue $9-billion Vale iron-ore streaming deal

By: Bloomberg     20th August 2016 China Investment Corp (CIC), the $814-billion sovereign fund, is leading a Chinese investor group in talks for a multibillion-dollar iron-ore streaming deal with Brazil’s Vale, people familiar with the matter said. The consortium is negotiating the potential purchase of a portion of Vale’s... 

CIC said to pursue $9-billion Vale iron-ore streaming deal

Moody’s restates Barrick’s Baa3 rating and revises outlook to stable

By: Henry Lazenby     19th August 2016 Credit ratings agency Moody’s Investors Service has confirmed the Baa3 ratings of the world’s largest gold producer by volume Barrick Gold and revised the ratings outlook to stable from negative. "The outlook revision to stable reflects Barrick's reducing leverage and management's commitment to... 

Santos posts half-year loss on impairment, sales up

By: Megan van Wyngaardt     19th August 2016 Oil and gas developer Santos on Friday reported disappointing results, with a first half net loss of $1.1-billion, impacted significantly by an impairment charge for the Gladstone liquefied natural gas (GLNG) project of $1.05-billion after tax and lower oil prices. The company earlier said it was... 

Rally in mining’s super commodity strained by race to fuel Tesla

By: Bloomberg     19th August 2016 Even the mining industry’s super commodity of the future may be unable to avoid the Achilles heel of all mineral producers – a recurring habit of busting a boom with too much supply. As miners of everything from copper to iron ore wrestled with losses driven by global surpluses, prices soared for... 

A commodities rebound is accelerating right on China’s doorstep

By: Bloomberg     19th August 2016 China may be slowing, but a commodities rebound is under way and the world’s biggest miner knows where the next growth story is building – emerging economies in Southeast Asia. Combined gross domestic product in the ASEAN-5 nations – Indonesia, Thailand, Malaysia, the Philippines and Vietnam –... 

A commodities rebound is accelerating right on China’s doorstep
BHP Billiton CEO Andrew Mackenzie

Caterpillar to cut nearly 200 jobs as it seeks alternatives for certain underground products

By: Henry Lazenby     19th August 2016 In dealing with the longest down cycle in its 90-year history, US mining equipment manufacturer Caterpillar is pursuing strategic alternatives for its room-and-pillar products and discontinuing the manufacture of track drills. The Peoria, Illinois-based company said Thursday it would forthwith... 

Rising uptake of vanadium-based batteries bodes well for market as price turns a corner 

By: Henry Lazenby     18th August 2016 A more than 40% increase in the price of vanadium pentoxide (V2O5) since December lows is invigorating the industry, just as it is poised to see significant new demand for the steel-strengthening ingredient coming from the increasing adoption of vanadium-redox flow batteries (VRBs). The commodity... 

Rising uptake of vanadium-based batteries bodes well for market as price turns a corner
Photo by Largo Resources
Vanadium from Largo Resources' Maracas Menchen vanadium mine, in Brazil

Russia’s fertilizer tycoon says potash glut may last a decade

By: Bloomberg     18th August 2016 Russian billionaire Andrey Melnichenko, whose fertilizer company is investing more than $6-billion in potash mining, said it could take at least a decade for the potash market to work off the excess because of the past “disruptive” actions by the largest sellers. Potash prices have collapsed... 

Aspire starts feasibility study for Mongolia rail project

By: Mariaan Webb     18th August 2016 Mongolian metallurgical coal explorer and infrastructure company Aspire Mining has started the first stage of the rail feasibility study for the Erdenet to Ovoot railway, which is critical to the development of the Ovoot coking coal project. The railway forms part of the new Northern Rail... 

Three-decade iron-ore veteran says 2017 to bring challenges

By: Bloomberg     18th August 2016 Iron-ore strayed well off-script in 2016 as a rally surprised the bears. Michael Zhu, former global sales director at Vale SA, says the commodity will probably face a tough year in 2017 as supply keeps on expanding while China’s steelmakers struggle to sustain output at current levels. “I’m not... 

Three-decade iron-ore veteran says 2017 to bring challenges

DRA enjoying rise in gold project share, eyeing more gold opportunities 

By: Martin Creamer     17th August 2016 Mining project house DRA, which has hit the gold project high spots in particularly West Africa, is now well poised to extend that gold triumph further into Central Africa, East Africa and also South Africa. DRA’s impressive penetration of the gold project market has been characterised by... 

DRA enjoying rise in gold project share, eyeing more gold opportunities
DRA MD Johann de Bruin talks to Mining Weekly’s Martin Creamer on the company’s project successes in gold. Photographs: Duane Daws. Video: Nicholas Boyd.

Biggest miners’ project spending reboot signals rebound firming

By: Bloomberg     17th August 2016 The world’s two largest mining companies are planning to raise capital expenditure from decade lows as a firming rebound in commodity prices paves the way for at least $12-billion of growth projects. BHP Billiton Ltd., the No. 1 miner, expects to raise spending by 15% in fiscal 2018, while Rio... 

‘Walk the walk’ is miners’ mantra as Philippines cracks down

By: Bloomberg     17th August 2016 Toe the line. That’s the call from the mining association in the world’s biggest nickel ore supplier where members are facing a crackdown led by Philippine President Rodrigo Duterte, who’s said the Southeast Asian nation can live without the industry’s contribution entirely if need be. Members... 

Sparton scoops up group of inactive VRB manufacturing companies

By: Henry Lazenby     16th August 2016 Canadian firm Sparton Resources has bought a group of currently inactive vanadium-redox flow battery (VRB) manufacturers for $3.3-million, the company announced Tuesday. The Toronto-headquartered company said that its subsidiary VanSpar Mining (VMI) had on August 8 signed a share purchase... 

Zinc deficit looms, prices up, but output restarts unlikely

By: Reuters     16th August 2016 Zinc's sharp rally and looming market deficit has fed speculation that major producers such as Glencore may reverse output cuts, but analysts caution that is unlikely to happen soon. Only when stocks of concentrate and metal sink to levels where higher prices can be sustained will large producers... 

Chinese housing market to impact on minerals, metals prices

By: Megan van Wyngaardt     16th August 2016 Still-low metal prices will stabilise this year, edging gradually higher thereafter, as dollar strength and strong production growth begins to wane and provide a base to metal prices, analysis firm BMI Research said in its Commodities Outlook report on Tuesday. It added that it did not expect a... 

Axiom retracts PFS announcement

By: Samantha Herbst     16th August 2016 The Australian Stock Exchange (ASX) has requested metals developer Axiom Mining to retract its prefeasibility study (PFS) announcement, published last week, as it does not own the Kolosori prospecting licence. Axiom said in a trading statement on Tuesday that, while it had had ownership of the... 

Citigroup sees no ‘significant wave’ of copper supply looming

By: Bloomberg     16th August 2016 The world is not about to be swamped by copper, according to Citigroup Inc. Growth in supply will fall significantly short of demand through 2020, tempering the bearish sentiment that’s made copper the worst-performing metal this year. Global copper mine supply will be one-million metric tons a... 

Citigroup sees no ‘significant wave’ of copper supply looming

Iron-ore seen back at $40 by Morgan Stanley as seasons shift

By: Bloomberg     16th August 2016 Iron-ore’s 2016 rally may be about to face a challenge from the changing of the seasons. Morgan Stanley has forecast that prices may tumble back to $40 a metric ton this half as the approach of winter in China typically blunts steel demand and output. “Our short-term forecast still features a... 

Cash-strapped Nautilus to lay off workers, cancel contracts for delayed Solwara 1 

By: Henry Lazenby     16th August 2016 Despite having $51.3-million in its coffers as at the end of June, marine mining pioneer Nautilus Minerals on Monday announced that it would implement several measures aimed at preserving the company’s capital position while it seeks to secure further project financing. The TSX-listed company... 

Cash-strapped Nautilus to lay off workers, cancel contracts for delayed Solwara 1

Alrosa recovers 136.24 ct diamond in Russia

By: Henry Lazenby     15th August 2016 Russian mining major Alrosa has recovered a formidable 136.24 ct diamond from the Nyurbinskaya kimberlite pipe, in Yakutia, Russia, the company revealed on Monday. The gem-quality rough diamond, which is classified as a 3 Black Makeable 1 Сolour, measured 29.32 × 23.88 × 21.9 mm and wis one of... 

Illegal miner progress at Obuasi ‘frustratingly slow’ – AngloGold  

By: Martin Creamer     15th August 2016 The occupation by illegal miners of part of the Obuasi gold mine, in Ghana, is slowing the feasibility work AngloGold Ashanti is undertaking for the modernisation of the troubled operation. Obuasi’s first half of 2016 has been dominated by the incursion of illegal miners on to the operating area,... 

Illegal miner progress at Obuasi ‘frustratingly slow’ – AngloGold
AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat) talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Revolutionary gold-mining machine making progress – AngloGold 

By: Martin Creamer     15th August 2016 The innovative Mark IV high-technology machine that AngloGold Ashanti is developing to improve the economics of gold mining in South Africa’s low-height, hard-rock reef is continuing to make progress, AngloGold COO South Africa Chris Sheppard said on Monday. Speaking at Monday’s presentation of... 

Revolutionary gold-mining machine making progress – AngloGold
AngloGold Ashanti COO South Africa Chris Sheppard talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

India earmarks $530m for aerial survey of deep-seated mineral resources

By: Ajoy K Das     15th August 2016 The Indian government will spend $530-million over seven years to conduct aerial surveys across 800 000 km2 of “obvious geological potential”. The Mines Ministry in March 2016 appointed an advisory consultant and based on its report, it is seeking an international agency to conduct the... 

UBS makes a bugle call for nickel bulls on crackdown, demand

By: Bloomberg     15th August 2016 Rising demand, deficits and a crackdown in the Philippines are combining to make nickel one of its most-preferred commodities, according to UBS Group, which said the full impact of mine shutdowns in the Southeast Asia nation may be felt only next year when exports fail to ramp up as usual. The... 

Mining stocks rally postpones industry revamp

By: Reuters     15th August 2016 Investors in mining stocks could face years of weak returns as a rally in share and industrial metals prices eases pressure on companies to restructure and curb oversupply. The mining sector is known for over-investment in boom times and crashes when demand weakens as economies slow, but many... 

Gold miner Newcrest’s profit slumps 24%

By: Mariaan Webb     15th August 2016 Gold major Newcrest Mining’s profit declined by nearly one-quarter in the 2016 financial year, owing to lower realised gold and copper prices, the suspension of operations at its Gosowong mine, in Indonesia, and lower copper sales volumes. Australia’s largest gold producer on Monday posted... 

Gold miner Newcrest’s profit slumps 24%
The Lihir mine produced record gold output.
2 3 4 5 6 7 8 9 Next Last

Latest News


Latest Videos


Latest News: Americas


Latest News: Africa and Europe

Topics In These Articles

RSS Feed


Mining Weekly is a product of Creamer Media.

Other Creamer Media Products include:
Engineering News
Research Channel Africa

Read more


We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store


Advertising on is an effective way to build and consolidate a company's profile among clients and prospective clients. Email

View options