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Central Rand Gold to resist wind-up application

By: Martin Creamer     Updated 3 hours ago London- and Johannesburg-listed gold mining company Central Rand Gold (CRG) has engaged legal advisers to defend a wind-up application. The company said in a Stock Exchange News Service announcement on Tuesday that the application by empowerment partner Puno Gold Investments was to wind-up CRG... 

Dismissal of R42m claim sends coal company's share price up

By: Martin Creamer     Updated 5 hours ago A R42.5-million claim brought against coal mining company Keaton Mining by opencast mining services company Megacube Mining has been dismissed with costs. The JSE-listed Keaton said in a Stock Exchange News Service announcement on Tuesday that Megacube would also be liable for its failure to... 

Dismissal of R42m claim sends coal company's share price up
Photo by Duane Daws
Mandi Glad

Exploration, mining expected to grow in importance for cement producer PPC

By: Martin Creamer The medium-term game plan of African cement producer PPC is to find new resources needed by its operations, which will probably require it to engage in some form of exploration and eventual mining close to where urban development is expected in Africa. Over time, the resources side of the... 

Exploration, mining expected to grow in importance for cement producer PPC
Photo by Duane Daws
Darryll Castle

Crater accelerates PNG mine

By: Esmarie Swanepoel Junior Crater Gold Mining on Tuesday told shareholders that gold mining at its High Grade Zone mine, at its Crater Mountain project, in Papua New Guinea, would be accelerated with the installation and commissioning of a new custom-made gold processing plant. “This marks an important milestone for... 

Gold eyes $1 300 again as weaker dollar, fund inflows support

By: Reuters Gold rose on Tuesday, in another attempt to cross the key $1 300-an-ounce level, as the US dollar extended losses and as assets of the top bullion fund rose to their highest in over two years. Gold has rallied sharply since late last week after the dollar slumped on the Federal Reserve's cautious... 

Indian summer takes a toll on coal mining

By: Ajoy K Das A scorching heat wave, which has seen the mercury rise to above 40°C in India over the past few months, aggravated by an acute water shortage across the country, has dealt a blow to most coal mining operations countrywide. In an attempt to cope with the heat wave – which had officially taken the... 

Bahrain's Alba cites collapse in aluminium prices as Q1 profit falls 89%

By: Reuters Aluminium Bahrain (Alba), the owner of one of the world's largest aluminium smelters, reported an 88.6% fall in first-quarter net profit on Monday as a result of a collapse in aluminium prices. Alba's net income for the three months to March 31 was 4.2-million dinars ($11.22-million), said Alba... 

Bahrain's Alba cites collapse in aluminium prices as Q1 profit falls 89%

Eldorado to sell Chinese mine

By: Henry Lazenby Having previously Eldorado stated that it was mulling the sale of its Chinese assets, dual-listed Eldorado Gold this week announced that it would sell its 82% interest in the Jinfeng mine to China National Gold Group, for $300-million in cash. China National Gold had been the company’s minority... 

CIL coal goes under microscope as customers complain about quality

By: Ajoy K Das Faced with rising production as well as falling offtake and prices, India’s Coal India Limited (CIL) has initiated steps to address customer complaints around the quality of coal supplied. For starters, the government’s Central Institute for Mining and Fuel Research (CIMFR) has been directed to... 

Late tweaks likely to delay India’s New Mineral Policy

By: Ajoy K Das Last-minute tweaking of the National Mineral Policy (NMP) is likely to delay its implementation, as changes opposed by a section of the mining industry need to be reconciled, according to the architect of the NMP, who is an official in the Mines Ministry. The dilution of incentives for... 

MetSkill

By: Creamer Media Reporter Process industry training provider MetSkill is actively involved with the development of the new occupational qualifications for the Quality Council for Trades and Occupations under the Mining Qualifications Authority (MQA). Benoni, Gauteng-based MetSkill, 100% owned by MD Rebecca Sands, has... 

Cliffs rallies as strong Q1 performance sees it back in the black

By: Henry Lazenby The largest US iron-ore producer Cliffs Natural Resources rallied as much as 35% to $5.38 a share on the NYSE on Thursday, after swinging to a first-quarter profit amid sustained market improvement. For the three months ended March 31, Cliffs recorded net income attributable to Cliffs' common... 

Cliffs rallies as strong Q1 performance sees it back in the black

Centerra’s Bishkek office raided by Kyrgyz general prosecutor

By: Henry Lazenby Canadian miner Centerra Gold on Thursday reported a raid of its Kyrgyz subsidiary Kumtor Gold Company’s (KGC’s) Bishkek office on Thursday afternoon by the country’s general prosecutor. The General Prosecutor’s Office (GPO) had issued a press release stating that the purpose of the search was to... 

Centerra’s Bishkek office raided by Kyrgyz general prosecutor
Photo by Reuters
Kumtor gold mine, Kyrgyztan

Despite Otjikoto slope failure, B2Gold gold output on course for another record year

By: Henry Lazenby Canadian gold producer B2Gold has exceeded its first-quarter production guidance by 8 966 oz of gold, for company-wide output of 127 844 oz of the yellow metal, an increase of 10% over the same period in 2015. Despite a slope failure on the pit access ramp at the Otjikoto mine, in Namibia, on... 

CIL seeks technological collaborator for hydrological studies

By: Ajoy K Das India’s State-controlled coal major Coal India Limited (CIL) is seeking to collaborate with a technological partner following a government directive to complete a long-term hydrological survey across river basins where the miner is planning to implement at least two mining projects. According to... 

India to hit the road to woo investors for oil, gas

By: Ajoy K Das India will commence with road shows in the next month to woo domestic and foreign investors to participate in the auctions of marginal oil and gas fields across the country. An inter-Ministerial group led by the Petroleum and Natural Gas Ministry was expected to meet early next week to finalise... 

Iron-ore, steel lead China commodities retreat as curbs bite

By: Reuters A major Chinese commodities exchange took further steps to calm volatile markets on Wednesday, hiking transaction fees and widening trade limits in a move that could make exiting futures contracts more orderly. Iron-ore and steel futures fell again in reaction to higher trading costs, brought in... 

Iron-ore, steel lead China commodities retreat as curbs bite

CIL slashes coal prices

By: Ajoy K Das Faced with mounting stocks currently estimated at 58-million tonnes, producer Coal India Limited (CIL) has slashed the prices of high-grade coal by around 40%. A senior CIL official said that the reduction in prices had been put into effect from April on an experimental basis, but could be... 

India launches investigations into illegal coal imports

By: Ajoy K Das India has launched country-wide investigations into coal importers over-invoicing and resorting to illegal cross-border funds transfers, which have been estimated at around $5.3-billion. Senior government officials said that over-invoicing of coal imports and illegal non-banking channel funds... 

Adani Australian coal mine approval faces fresh court challenge

By: Reuters A green group has asked the Supreme Court of Queensland to review the environmental approval granted to Indian conglomerate Adani Enterprise Ltd to build one of the world's biggest coal mines in the Australian state. Adani, which was granted a mining lease by Queensland earlier this month, has... 

PanTerra weighs options for Las Lagunas plant, eyes JV in China

By: Esmarie Swanepoel Gold producer PanTerra Gold has this week unveiled options to use its Albion/carbon in leach (CIL) processing plant in the Dominican Republic, once gold and silver extractions from the refractory tailings at the Las Lagunas project was completed in mid-2019. The plant has the capacity for... 

Indonesia estimates value of Freeport unit two-thirds below offer

By: Reuters Indonesia has proposed a value for a 10.64% stake in Freeport-McMoran's local unit that is about two-thirds below the figure the company proposed in January. Copper miner Freeport's unit is valued at about $630-million and the US-based parent has been asked to revise its offer, an Indonesian... 

Q1 gold rally too rapid for support, as lower Asian demand weighs on price outlook

By: Henry Lazenby A 17% rally in the price of gold during the first quarter of the year to around $1 270/oz happened too rapidly according to market analysts at Thomson Reuters GFMS, as poor demand from Asia would probably see the gold price fall below $1 200/oz over the next few months. However, this price level... 

Q1 gold rally too rapid for support, as lower Asian demand weighs on price outlook

Freeport loss doubles as low prices bite

By: Henry Lazenby US diversified miner Freeport McMoRan has booked a $3.8-billion write-down of the carrying value of its oil and gas properties, on the back of lower West Texas Intermediate prices. The company reported a net loss attributable to common stock totalling $4.2-billion, or $3.35 a share, for... 

Encouraging progress overshadowed by loss of life – Implats

By: Martin Creamer Continuing mourning over the loss of the lives of six employees had completely overshadowed the encouraging progress being made to build a stronger and more robust business, Impala Platinum (Implats) CEO Terence Goodlace said on Tuesday. In the three months to March 31, four employees lost their... 

Encouraging progress overshadowed by loss of life – Implats
Photo by Duane Daws
Terence Goodlace

Indian miners flay government push for iron-ore value addition

By: Ajoy K Das Indian miners have flayed the government decision to promote only the exports of value-added iron-ore as “fallacious”. Miners claim that being competitive in the production and export of iron-ore does not necessarily mean that conserving the same for domestic operations would improve India's... 

Altura secures first offtake for Pilgangoora

By: Esmarie Swanepoel Lithium developer Altura Mining has inked its first binding offtake agreement over the Pilgangoora lithium project, with China’s Lionenergy. The offtake agreement followed an earlier letter of intent under which the Chinese firm agreed to buy between 100 000 t/y and 150 000 t/y of lithium... 

Dugald River gets special status from Qld govt

By: Esmarie Swanepoel The Queensland state government has granted developer MMG’s A$1.4-billion Dugald River zinc project special status in an effort to reduce red tape and to assist in job creation in the region. State Development and Natural Resources and Mines Minister Dr Anthony Lynham said that projects like... 

Bushveld moves to acquire Evraz stake in vanadium mine, plant

By: Martin Creamer Diversified mineral development company Bushveld Minerals has agreed exclusivity to complete a confirmatory due diligence for the acquisition of financially troubled Evraz’s controlling interest in Vametco’s 473-employee vanadium mine and plant, located near Bushveld’s recently acquired vanadium... 

Bushveld moves to acquire Evraz stake in vanadium mine, plant
Photo by Duane Daws
Fortune Mojapelo

Sandvik parries mining doldrums as profit slides less than forecast

By: Reuters Swedish engineering group Sandvik reported a smaller than expected fall in first quarter core operating earnings on Monday as cost cuts helped partly offset a deep slump in its mining business which showed little sign of letting up. Years of soft commodity prices have depressed demand for mining... 

Power snags putting Tongon production target at risk – Randgold

By: Martin Creamer The instability of electricity supply from the national grid in Côte d’Ivoire is negatively impacting the cost structure of Randgold’s Tongon gold mine and placing its production target at risk. Tongon, owned 89% by Randgold, 10% by the State of Côte d’lvoire and 1% by a local company, is... 

Power snags putting Tongon production target at risk – Randgold
Photo by Duane Daws
Dr Mark Bristow

Empty mining pipeline expected to be hot Junior Indaba topic

By: Martin Creamer Mining’s problematic empty pipeline, which should be a major worry to both the mining industry and governments, is expected to be a hotly debated topic at the upcoming Junior Indaba in Johannesburg. Chairperson Bernard Swanepoel said on Monday that the Junior Indaba’s recently launched programme... 

Empty mining pipeline expected to be hot Junior Indaba topic
Photo by Duane Daws
Bernard Swanepoel

Sibanye guides soaring earnings after quarterly operating profit rockets

By: Martin Creamer ‘Proudly South African’ precious metals mining company Sibanye on Monday reported a 240% higher operating profit to R2.5-billion in the March quarter on a doubled-plus 38% margin. The flourishing JSE- and NYSE-listed company, headed by CEO Neal Froneman, said earnings a share for the six months... 

Sibanye guides soaring earnings after quarterly operating profit rockets
Photo by Duane Daws
Neal Froneman

Despite some commodity price spillover, Caterpillar lowers 2016 midpoint outlook

By: Henry Lazenby US earthmoving machinery manufacturer Caterpillar on Friday lowered the midpoint of the outlook for 2016 sales and revenues by about 2% on Friday, despite reporting some signs of improvement. The profit outlook at the midpoint of the sales and revenues range was now $3 a share, or $3.70 a share... 

Despite some commodity price spillover, Caterpillar lowers 2016 midpoint outlook

Anglo bettering North American safety benchmark

By: Martin Creamer Safety improvement at Anglo American mines has put the diversified mining company ahead of the North American mining industry, the leading point of reference. While in full production mode, the London- and Johannesburg-listed business achieved a fatality-free fourth quarter (Q4), which on top of... 

Anglo bettering North American safety benchmark
Photo by Duane Daws
Mark Cutifani

Indian provinces rush to float exploration companies

By: Ajoy K Das Indian provincial governments are rushing to establish their own mineral exploration companies. Faced with the opening up of mineral exploration to private investors and the imperative to upgrade explorations levels before putting mineral blocks up for auction, several mineral-rich provinces,... 

Anglo shareholders show unease at CEO pay deal

By: Reuters Anglo American will launch a fresh review of executive pay after a significant number of shareholders voted against CE Mark Cutifani's £3.4-million ($4.9-million) pay deal for 2015, partial voting results showed on Thursday. Results from shareholders who had submitted votes ahead of the annual... 

Anglo diamond, copper, coal, manganese alloy, niobium outputs fall

By: Martin Creamer Diversified mining company Anglo American has produced less diamond, copper, coal, manganese alloy and niobium in the three months to March 31. Diamond production fell by 10%, copper production by 19%, export thermal coal by 13%, export metallurgical coal by 9%, Eskom coal by 8% and niobium by 13%. 

Anglo diamond, copper, coal, manganese alloy, niobium outputs fall
Mark Cutifani
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