http://www.miningweekly.com
R/€ = 16.83 Change: -0.02
R/$ = 15.22 Change: 0.01
Au 1315.53 $/oz Change: -6.40
Pt 981.00 $/oz Change: 2.00
 

Asia News

De Beers sells $560m of diamonds in latest cycle

     Updated 10 minutes ago In line with expectations, De Beers on Tuesday reported somewhat lower sales of $560-million in the fifth cycle of the current year, compared with the $636-million of sales recorded in the fourth cycle. De Beers CEO Philippe Mellier noted that the lower sales reflected typical seasonal demand... 

Gold declines after two-day Brexit rally as oil, copper rebound

By: Bloomberg     Updated 1 hour 9 minutes ago Gold dropped after posting the biggest two-day gain in more than seven years following the UK’s vote to exit from the European Union. Bullion for immediate delivery lost as much as 0.8% to $1 313.62 an ounce and traded at $1 318.10 at 2:22 p.m. in Singapore, according to Bloomberg generic... 

Gold veteran says Brexit may mark start of ‘major bull market’

By: Bloomberg     Updated 1 hour 29 minutes ago Gold may stand at the start of a major bull market should the UK’s Brexit vote prove to be a forerunner of greater political and financial instability around the world, according to Evolution Mining’s Jake Klein, a veteran of more than 20 years in the industry. With the rise in uncertainty,... 

Gold veteran says Brexit may mark start of ‘major bull market’
Evolution Mining executive chairperson Jake Klein

Morgan Stanley raises iron-ore outlook after surprise rally

By: Bloomberg     Updated 1 hour 32 minutes ago Morgan Stanley raised its iron-ore outlook for this year and 2017 after prices rallied in the first six months, saying that the top suppliers in Australia are managing the addition of new supply and steel demand in China will remain supported. The 2016 forecast was increased 17% to $46 a metric... 

Morgan Stanley raises iron-ore outlook after surprise rally

Kyrgyz environment agency approves Centerra’s 2016 Kumtor mine plan

By: Henry Lazenby     27th June 2016 Officials of a Kyrgyz environmental protection agency have averted the shutdown of Canadian miner Centerra Gold’s Kumtor mine on July 1 by approving the operation’s mine plan for the remainder of 2016, the company reported Monday. The Kyrgyz Republic State Agency for Environmental Protection and... 

Substantive mineral law issues still far from resolved – Herbert Smith Freehills 

By: Martin Creamer     27th June 2016 The content and the implications of the Minerals and Petroleum Resources Development Act (MPRDA) Amendment Bill are extraordinarily complicated. Three issues, which embody the most significant negative implications for the mining industry and South Africa, have been delaying the finalisation of... 

Substantive mineral law issues still far from resolved – Herbert Smith Freehills
Photo by Duane Daws
Herbert Smith Freehills' Ben Winks

Huge Brexit bonanzas for AngloGold, Gold Fields – Moody’s

By: Martin Creamer     27th June 2016 As a result of Britain deciding to exit the European Union, two South African gold mining companies are heading for huge free cash bonanzas, ratings agency Moody’s said on Monday. AngloGold Ashanti is set to generate an additional $120-million in free cash flow in the second half of 2016 and Gold... 

Huge Brexit bonanzas for AngloGold, Gold Fields – Moody’s
Photo by Duane Daws
AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat)

Gold rises for second day as investors seek havens after Brexit

By: Bloomberg     27th June 2016 Gold rose a second day as financial markets continued a selloff following the UK’s vote to exit the European Union, with inflows into bullion-backed funds surging the most by value since 2012. Bullion for immediate delivery advanced as much as 1.5% to $1 335.55 an ounce before trading at $1... 

Gold rises most since 2008 crisis as investors seek Brexit haven

By: Bloomberg     25th June 2016 Gold surged the most since the height of the 2008 global financial crisis after the UK voted to exit the European Union, causing turmoil across markets and boosting haven demand. Bullion jumped as much as 8.1% and futures trading volume was double the average for this time of day. As the pound... 

Gold rises most since 2008 crisis as investors seek Brexit haven

Brexit could push gold price as high as $1 400/oz in coming weeks

By: Ilan Solomons     24th June 2016 Gold and silver prices on Friday surged above their 2016 highs in the wake of the outcome of the British referendum to leave the European Union (EU) – the so-called Brexit. Fitch Group research firm BMI on Friday said it expected additional gains for these precious metals over the coming weeks. 

‘Staggering’ uncertainty driving gold – World Gold Council

By: Martin Creamer     24th June 2016 With Britain voting to exit the European Union, the World Gold Council expects to see strong and sustained inflows into the gold market driven by the "staggering" level of protracted uncertainty that investors now face. The council said on Friday that gold’s surge to $1 313.85/oz was providing... 

‘Staggering’ uncertainty driving gold – World Gold Council

Mining sector sheltered from Brexit shock by gold and dollar strength

By: Reuters     24th June 2016 Big mining companies found some shelter from the shock of Britain's decision to leave the European Union from Friday's rare combination of stronger gold and a relatively strong dollar. The overall mining sector fell 2.5% while the blue-chip FTSE 100 index was down 4.6% by 1230 GMT. 

Mining sector sheltered from Brexit shock by gold and dollar strength

Gold delivers on day of tumult as Brexit supports bull case

By: Bloomberg     24th June 2016 Gold delivered and more gains may be on the cards. As global financial markets were cast into turmoil by Britain’s decision to quit the European Union, the commodity that’s known above all else for its role as an investment refuge rewarded backers with the biggest surge since the global financial... 

Gold delivers on day of tumult as Brexit supports bull case

First shipment of WA bauxite en route to China

By: Samantha Herbst     24th June 2016 Lightweight metals manufacturer Alcoa is celebrating its first shipment of Western Australia bauxite as part of an export trial approved by the state government last year. Perth-based Alcoa Mining president Garret Dixon noted that the milestone shipment – a 47 000-t parcel of bauxite bound for an... 

PanAust lodges special mining lease application for Frieda River

By: Mariaan Webb     24th June 2016 China-owned PanAust has applied for a special mining lease for the Frieda River copper/gold project, in Papua New Guinea. MD Dr Fred Hess said on Friday that the lodgement of the application represented a crucial milestone in PanAust’s pursuit of organic growth. 

Kimberley Diamonds raises $4m to partly repay auction house

By: Samantha Herbst     24th June 2016 Australia’s Kimberley Diamonds has raised $4.02-million in capital, some of which has been used to partly repay China-based auction house Zhejiang Huitong Auction, which had previously lent the ASX-listed miner $13-million. Kimberley Diamonds placed about 40-million ordinary fully paid shares at... 

Gold sees biggest gain since 2008 in rush for havens from Brexit

By: Bloomberg     24th June 2016 Gold rallied the most since the global financial meltdown of 2008 after the UK voted to leave the European Union, sending markets into a tailspin and investors piling into haven assets. Bullion for immediate delivery jumped as much as 8.1%, the most since 2008, and traded at $1 322.88 an ounce as... 

Gold sees biggest gain since 2008 in rush for havens from Brexit

Commodities reel in world market tumult as UK votes for Brexit

By: Bloomberg     24th June 2016 Commodities were swept up in global market turmoil as investors sold off growth-related assets including oil and copper and sought haven in precious metals as UK voters opted to leave the European Union after more than four decades. The Bloomberg Commodities Index fell as much as 2%, the most in... 

Unsustainable use of revenue from once booming phosphate sector haunting Nauru

By: Ilan Solomons     24th June 2016 The entire topside of the island of Nauru, in the Central Pacific, has largely been mined out and requires extensive rehabilitation, says Asian Development Bank (ADB) economist Roland Rajah. The tiny island nation, with a population of about 10 700 residents on an area of about 21 km2, has... 

Unsustainable use of revenue from once booming phosphate sector haunting Nauru

Gold surges to highest since ‘14 as BBC predicts vote for Brexit

By: Bloomberg     24th June 2016 Gold surged to the highest level in more than two years in a frantic global hunt for haven assets as Britain’s voters were projected to back leaving the European Union after a historic poll. Bullion for immediate delivery jumped as much as 8.1% to $1 358.54 an ounce, the highest price since... 

Gold surges to highest since ‘14 as BBC predicts vote for Brexit

Centerra gets new Kumtor emissions and discharge permits

By: Henry Lazenby     23rd June 2016 TSX-listed Centerra Gold has received its 2016 maximum allowable emissions (MAE) permit from the Kyrgyz Republic State Agency for Environmental Protection and Forestry (SAEPF) for the Kumtor mine, in Kyrgyzstan. Centerra stated that the new MAE permit was valid until December 31, and was the... 

Analyst urges caution as lithium excites and pitfalls multiply 

By: Simon Rees     23rd June 2016 Lithium’s prospects are bright as demand from the battery sector is surging and observers believe it will only get better as more electric vehicles (EV) are produced and new energy storage solutions arise, such as Tesla’s Powerwall technology. Indeed, prices had marched higher, while... 

Analyst urges caution as lithium excites and pitfalls multiply
Photo by Reuters
Rockwood's Lithium plant on the Atacama salt flat, the largest lithium deposit currently in production, in the Atacama desert of northern Chile

Copper hits seven-week peak on optimism Britain will stay in EU

By: Reuters     23rd June 2016 Copper prices rose to their highest in seven weeks on Thursday as opinion polls indicating that Britons favour staying in the European Union boosted sentiment that was also reinforced by a weaker dollar. Benchmark copper on the London Metal Exchange (LME) gained 1.6% to $4 774/t by 15:00 GMT. It... 

Bank of England, offshore centres holding SA gold worth R75bn 

By: Martin Creamer     23rd June 2016 The Bank of England and other official sector institutions at offshore bullion centres are holding a large percentage of South Africa’s gold. At last count, these holdings totalled four-million ounces of South Africa’s gold, worth nearly $5-billion. 

Bank of England, offshore centres holding SA gold worth R75bn
DA Shadow Finance Minister David Maynier

Copper is just a bystander in commodities’ best start since 2008

By: Bloomberg     23rd June 2016 The best start to a year for commodities since 2008 is leaving copper in the dust. The metal is one of the weakest of the 22 raw materials in the Bloomberg Commodity Index of returns this year and the worst of the major metals. 

Copper is just a bystander in commodities’ best start since 2008

Potential rival to LME would be costly; tie-up an option

By: Reuters     23rd June 2016 The idea of launching a platform to rival the London Metal Exchange, the world's biggest market for industrial metals, is unlikely to become reality without large amounts of capital but a viable alternative could be a tie-up with another exchange. Former LME chief executive Martin Abbott raised... 

New Philippine Minister says openpit mining is 'madness'

By: Reuters     23rd June 2016 The incoming Minister in charge of Philippine mining has slammed the use of openpits to extract minerals, describing it as "madness" even to consider the method in the resource-rich country because of the environmental impact. The stance by Regina Lopez, an environmentalist who on Tuesday... 

‘Stop supply’ notices deal a blow to Coal India’s stock liquidation

By: Ajoy K Das     23rd June 2016 Coal miner Coal India Limited’s (CIL’s) efforts to deal with rising pithead stocks have been dealt another blow as an increasing number of thermal power plants have issued ‘stop supply’ notices to the miner. Several thermal power plants across India have asked CIL not to make any further coal... 

Russia’s Gazprom and Indian E&P majors seek greater oil and gas collaboration

By: Ajoy K Das     22nd June 2016 Close on heels of India’s ONGC Videsh picking up a $1.26-billion stake in Rosneft’s Vankor oil fields, Indian oil exploration and production (E&P) majors and Russia’s Gazprom were seeking to extend collaborations beyond trading in oil and gas to exploration and production projects. 

Gold rush to end whether or not Britain votes to exit EU

By: Reuters     22nd June 2016 Gold's sharp gains on uncertainty over Britain's European Union membership are likely to come to an end, regardless of whether Britons vote to leave or remain in Thursday's referendum. Prices hit their highest since August 2014 last week as the $5-trillion a year gold market rose with other... 

Gold rush to end whether or not Britain votes to exit EU

Gold posts biggest loss in four weeks as chances of Brexit ebb

By: Bloomberg     22nd June 2016 Gold posted the biggest loss in four weeks on speculation that a vote by Britons to stay in the European Union in Thursday’s referendum will undercut demand for the metal as a haven. Silver also fell, and copper rallied. While newer polls have been split on the outcome, betting shops put the... 

Mining Charter should be policy not law – Leon 

By: Martin Creamer     21st June 2016 The Mining Charter should be a policy type document rather than a legislative instrument. “We need to go back to what it was intended to be,” Herbert Smith Freehills partner and Africa practice co-chair Peter Leon said on Tuesday. (Also watch attached Creamer Media video). 

Mining Charter should be policy not law – Leon
Photo by Duane Daws
Herbert Smith Freehills partner Peter Leon

Coal India starts auctioning supply contracts

By: Ajoy K Das     21st June 2016 Coal India Limited (CIL) has kick started auctioning coal contracts to major sectors amid signs of jaded appetite among its consumers. CIL completed the auction for the sponge iron-ore sector last week and has announced that the auction for the cement sector would start next week. 

Incoming Philippine President to review mining projects

By: Reuters     21st June 2016 Incoming Philippine President Rodrigo Duterte on Tuesday warned he would cancel mining projects causing environmental harm as an anti-mining advocate accepted his offer to head the agency overseeing the country's natural resources. Environmentalist Gina Lopez said she had accepted Duterte's... 

Average capex overrun for mining companies hits 37% – EDC study

By: Simon Rees     20th June 2016 The average cost overrun for mining projects studied by Export Development Canada (EDC) has reached 37% over the capital expenditure (capex) budgeted, EDC managing principal Tin Lwin told an audience at a recent meeting of the Canadian Institute of Mining’s Management and Economics Society in... 

Average capex overrun for mining companies hits 37% – EDC study

Graphite rush intensifying

By: Martin Creamer     20th June 2016 Verification by Armadale of high-grade graphite in Tanzania came hot on the heels of Australian graphite developer Syrah Resources raising A$194-million for its Balama graphite project in Mozambique and smaller Volt Resources, with the Namangale graphite project in Tanzania, announcing a... 

Bushveld accelerating tin mining plans

By: Martin Creamer     20th June 2016 Diversified mineral development company Bushveld Minerals is accelerating its plans to enter tin mining. Describing its latest metallurgical results as encouraging, the company said on Monday that final costing was under way to determine expenditure requirements for the establishment of mining... 

Bushveld accelerating tin mining plans
Photo by Duane Daws
Bushveld CEO Fortune Mojapelo

Brexit alarms propel gold investors to near record rally wagers

By: Bloomberg     20th June 2016 The turbulence sweeping global markets has reignited investors’ passion for gold. Global central bankers have sounded the alarm that a British exit from the European Union could be disruptive to the global economy. Anxiety about the June 23 vote contributed to more than $1-trillion of value being... 

Brexit alarms propel gold investors to near record rally wagers
First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

Latest News: Americas

more

Latest News: Africa and Europe

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

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

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $149 Close