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BHP misses out to China's Jinchuan on nickel pact

By: Reuters BHP Billiton's struggling Nickel West smelter in Australia lost out on a potential key supply source of nickel when rival Jinchuan Group of China signed a purchase agreement with an Australian miner. Australia's no. 3 nickel miner, Western Areas, on Wednesday said it reached a two-year agreement... 

JV nears completion of Agata nickel processing plant DFS

By: Creamer Media Reporter TSX-V- and Frankfurt-listed Mindoro Resources says its subsidiary, Agata Processing Inc (API), expects to complete a definitive feasibility study (DFS) for a nickel processing plant at the Agata project, in northern Mindanao, Philippines, by the end of this year. TVI Resource Development (TVIRD)... 

SAIL wants Indian coal blocks to be awarded by govt

By: Ajoy K Das Even as the Indian government gets ready to launch its maiden allocation of coal blocks through competitive auction, demands have surfaced that the resource should be allocated through a ‘government dispensation route’, or based on government’s recommendations. Leading the charge was Steel... 

Rare ruby expected to attract attention at Gemfields auction

By: Martin Creamer A rare ruby is expected to attract attention at London Aim-listed Gemfields’ upcoming ruby auction. The 40.23-carat rough ruby, unearthed at the company’s Montepuez deposit in Mozambique’s northeast Cabo Delgado province, is expected to set a new benchmark for the quality of African rubies. 

Rare ruby expected to attract attention at Gemfields auction
Photo by Duane Daws
Ian Harebottle

India plans to increase number of coal blocks for maiden auction

By: Ajoy K Das In a bid to hasten the process of getting the coal sector back on the rails, the Indian government is considering increasing the number of coal blocks to be put up for the country’s maiden auction. Considering the demand from thermal power producers with projects stranded by lack of dry fuel... 

BHP Billiton signs R10bn aluminium supply deal with black consortium 

By: Martin Creamer The world’s biggest mining company BHP Billiton has agreed a R10-billion, five-year liquid metal supply contract with a black-controlled consortium in a transaction that gives the South African aluminium industry a shot in the arm. The diversified major, which is in the process of demerging its... 

BHP Billiton signs R10bn aluminium supply deal with black consortium
Photo by Duane Daws
Graham Kerr with Lucas Msimanga, Sizwe Khumalo, Zodwa Manase and David Austin

BHP Billiton’s demerging Newco heading for May vote

By: Martin Creamer The demerging of a selection of BHP Billiton assets into a separate new company (Newco) was going according to plan and heading for a May vote, Newco CEO-elect Graham Kerr said on Monday. Responding to Mining Weekly Online during question time at a media conference on BHP Billiton selling its... 

BHP Billiton’s demerging Newco heading for May vote
Photo by Duane Daws
Graham Kerr with Lucas Msimanga and Sizwe Khumalo

India’s RCFL seeks to float overseas arm to secure rock phosphate mining assets

By: Ajoy K Das Indian government-owned and -managed Rashtriya Chemicals and Fertilizers Limited (RCFL) is considering floating an independent subsidiary for acquiring fertiliser mineral assets and investing in joint ventures (JVs) overseas. Jordan, which exports about 65% of its yearly phosphatic fertiliser... 

BHP Billiton looks to further cut costs

By: Esmarie Swanepoel Mining giant BHP Billiton has widened its productivity gains expectations by a further $500-million between now and 2017. In October, the miner announced that it was targeting productivity gains of at least $3.5-billion a year by the 2017 financial year, with CEO Andrew Mackenzie saying at the... 

BHP Billiton looks to further cut costs

Urgent action needed to end overstated diamond certification – World Federation

By: Martin Creamer Urgent action was needed to stop diamonds being sold with overstated certification, World Federation of Diamond Bourses president Ernie Blom said on Friday. Blom, who blamed a few laboratories for damaging the reputation of the entire diamond industry, urged stakeholders the world over to stand... 

Urgent action needed to end overstated diamond certification – World Federation
Photo by Duane Daws
Ernie Blom

Australia's RBA upbeat on outlook for China resource demand

By: Reuters Chinese demand for Australian resources is likely to stay strong over the long run as the Asian giant continues to urbanise and mature into a consumer-led economy, a top central banker said on Friday. The Reserve Bank of Australia's (RBA) head of economic research, Alexandra Heath, acknowledged... 

Mines need to cut emissions and increase renewables – Corporate Knights

By: Simon Rees As the population of the planet doubles between now and 2050, the drive to cut carbon emissions will continue to gather pace. At a recent meeting between heads of state in China, the US announced its intention to reduce carbon emissions by 26% to 28% by 2025. China declared its emissions would... 

Mines need to cut emissions and increase renewables – Corporate Knights

Mozambique continues to attract coal miners, despite low market prices

By: Keith Campbell Two more companies have been granted coal mining concessions in the Tete province of Mozambique, despite the fall in global coal prices which have put the already operating mines in the province under pressure. The new concessions were granted to the Eurasian Natural Resources Corporation (better... 

Vanguard appoints new board member and CFO

By: Creamer Media Reporter Nevada-based Vanguard Mining has appointed Madhava Rao Mankal new member of the board of directors and CFO to replace Hai Le, who resigned from this position on November 5. Vanguard Mining president Jalani Haniffa said: "We are delighted to welcome Rao to our board of directors and management... 

SouthGobi seeks funding to pay delayed $8.1m interest to China Investment Corporation

By: Creamer Media Reporter TSX- and HKSE-listed SouthGobi Resources is delaying payment to the China Investment Corporation (CIC) of about $8.1-million in cash – the November 2014 instalment of cash interest due on the secured convertible debenture it entered into with a wholly owned subsidiary of the CIC. As of Thursday,... 

SouthGobi seeks funding to pay delayed $8.1m interest to China Investment Corporation
Ovoot Tolgoi

India announces draft rules for maiden auction of coal blocks

By: Ajoy K Das India’s Coal Ministry has released draft guidelines for the auction of 74 coal blocks to be completed within the next four months. The Coal Ministry document said that the government would conduct a two stage competitive bidding process for allocation of the coal blocks under the newly... 

India announces draft rules for maiden auction of coal blocks

AusAmerican raises cash for Chinese buy

By: Esmarie Swanepoel Explorer AusAmerican Mining this week announced plans to raise up to A$60-million through a bond offering in order to fund its acquisition of a majority share in Chinese company Shenglong International Investments. The first A$30-million would be raised through the first tranche of the note... 

Dividend-bound Keaton firming up new coal projects

By: Martin Creamer Coal-mining junior Keaton Energy, which invested R275-million in operations while boosting its cash position by 63% to R113.2-million in the six months to September 30, is firming up two new coal-mine projects that will nudge the JSE-listed company towards producing five-million tons of coal a... 

Dividend-bound Keaton firming up new coal projects
Photo by Duane Daws
Keaton CEO Mandi Glad

Canada's Extractive Sector Strategy well received, expected to fuel prosperity of sector

By: Tracy Hancock The Canadian government has an important role to play in supporting both the global competitiveness of the Canadian mineral industry and its ability to contribute to the sustainable development of the societies in which it operates, said Prospectors & Developers Association of Canada (PDAC)... 

Energy security takes centre stage at Australia-India meeting

By: Esmarie Swanepoel Australian Prime Minister Tony Abbott and his Indian counterpart Narendra Modi have prioritised the resources sector as one of the key areas for shared commercial growth, following the G20 summit in Brisbane. In a joint statement this week, the two Prime Ministers noted that energy was a central... 

Energy security takes centre stage at Australia-India meeting

Altura announces coal spin-off

By: Esmarie Swanepoel Diversified junior Altura Mining this week announced that it would spin-out its coal assets into a new Singapore-based vehicle, which would be separately listed on the Catalist platform. Altura currently owns one-third of the Delta coal mine, in East Kalimantan, as well as a 70% stake in the... 

Ivanhoe platinum project prepares for site work resumption

By: Martin Creamer Preparations have begun for a resumption of site work at Ivanhoe’s platinum project near Mokopane in Limpopo province, with the construction of the initial production shaft of the planned underground mine the focal point of the first phase of development of an initiative that has been decades in... 

Ivanhoe platinum project prepares for site work resumption
Photo by Duane Daws
Ivanhoe's Robert Friedland

Copper companies strike optimistic note on medium-term prices

By: Reuters Copper prices could be held down by rising supply from mines in the next couple of years but are set to surge after that due to a dearth of monster projects and bottlenecks at refineries, senior executives at top copper producers said on Wednesday. Widely seen as a barometer for economic growth,... 

India to take imminent steps to curb surging gold imports - source

By: Reuters India is likely to announce measures to curb gold imports as early as Tuesday, a senior finance ministry source said, as a surge in inbound shipments threatens to worsen the country's trade deficit. "We are working on it. The measures to slow gold imports are almost ready and may be announced... 

India to align coal and CBM legal environment to attract private investors

By: Ajoy K Das The Indian government will align its mining and gas exploration legislation to facilitate the exploration and mining of coal and coalbed methane (CBM) by domestic and foreign investors. A senior official in the Coal Ministry said that various legislation relating to the coal and gas sectors... 

Landmark Oz-China free trade deal wins praise from resources sector

By: Esmarie Swanepoel A jubilant Australian resources sector has welcomed the federal government’s signing of a free trade agreement (FTA) with China. Australian Prime Minister Tony Abbot on Monday inked a landmark free trade agreement with China’s President Xi Jinping, following the G20 meeting in Brisbane. 

Landmark Oz-China free trade deal wins praise from resources sector

Commodity slump threatens return to 'junk' for top emerging nations

By: Reuters Slumping prices for oil and other commodities and the prospect of rising global interest rates threaten to return some of the biggest emerging market (EM) nations to "junk" credit ratings, laying bare many countries' failure to reform in the good times. Emerging economies have earned roughly 200... 

Commodity slump threatens return to 'junk' for top emerging nations

Glencore, French open $7bn nickel mine in New Caledonia

By: Martin Creamer French President François Hollande on Monday officially opened the new $7-billion Koniambo nickel project in New Caledonia, a territory of France that is located 1 210 km east of Australia, in the south-west Pacific Ocean. The joint venture (JV) between the London-, Hong Kong- and now also... 

Glencore, French open $7bn nickel mine in New Caledonia
Photo by Bloomberg
François Hollande and Ivan Glasenberg

Indian government holds off on CIL restructuring

By: Ajoy K Das The Indian government would not initiate any immediate move towards restructuring Coal India Limited (CIL) to avoid jeopardising the transfer of coal blocks that were earlier cancelled by the Supreme Court. The Indian government mandated global consulting firm Deloitte in 2013 to undertake a... 

Coal exporters to benefit from Australia’s free trade pact with China

By: Esmarie Swanepoel Australia’s free trade agreement with China could be a win for local coal exporters, as it relaxes coal tariffs, advisory firm Grant Thornton said on Monday. Australian Prime Minister Tony Abbot on Monday announced a landmark free trade agreement with China, which was expected to unlock... 

Coal exporters to benefit from Australia’s free trade pact with China

Glencore, Mick Davis among suitors of Anglo's Chile mines – sources

By: Reuters Commodity group Glencore and X2, a company set up by former Xstrata boss Mick Davis, are among the suitors of the Chilean copper assets put up for sale by global miner Anglo American, industry and banking sources said this week. The assets, which together could fetch up to $1-billion according to... 

Glencore, Mick Davis among suitors of Anglo's Chile mines – sources
Mick Davis
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