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Rhodium slides to its lowest in more than a decade

By: Reuters Rhodium prices slid to their lowest level in more than a decade on Friday, suffering along with other platinum group metals from perceptions that the metal, widely used in the car industry, is in plentiful supply. Rhodium fell to $790 an ounce on Friday, its weakest since March 2004, extending... 

Bohm to join Tawana board, expects to add value to Mofe Creek

By: Megan van Wyngaardt JSE-listed Tawana Resources appointed Michael Bohm to its board as an independent nonexecutive director, effective August 1. “We are delighted that Bohm has joined the board and recognise the extensive corporate and project development skills he brings to the role, with the particular emphasis of... 

Supply of quality copper concentrate shrinks, sows seeds of price support

By: Reuters Supply of high quality copper concentrate shrank more than expected in the first half of this year due to output delays in top miner Chile, squeezing the pipeline for metal producers and likely supporting prices later in 2015, traders said. Production from two of four mines in Chile that churn... 

Supply of quality copper concentrate shrinks, sows seeds of price support

Geopacific raises cash for Cambodia exploration

By: Esmarie Swanepoel Junior metals explorer Geopacific Resources would raise some A$23-million through a share placement and rights issue to fund exploration work at its Kou Sa project, in Cambodia. The ASX-listed company on Friday announced that it would raise an initial A$9-million through the placement of... 

Australia mining shares tumble as iron ore price at two-month low

By: Reuters Shares in Australia's biggest iron-ore miners tumbled on Friday, after the price of the steel making raw material hit the lowest in more than two months amid further evidence of growing shipments to China. Iron ore for immediate delivery to China stood at $55.80/t, its weakest since late April,... 

China to lift ban on entry of miner Vale's mega-ships

By: Reuters China said on Friday it will allow 400 000-deadweight tonne (dwt) ships to dock at its ports, officially ending a more than three-year ban that had effectively shut out Brazilian miner Vale SA's giant vessels. Four domestic ports - Qingdao, Dalian, Tangshan Caofeidian and Ningbo - will be allowed... 

Mozambique rubies have auction success in Singapore

By: Keith Campbell UK mining company Gemfields has announced the results of the fourth auction of rough rubies by its Mozambican subsidiary, Montepuez Ruby Mining (Montepuez). The auction, held in Singapore, raised $29.3-million. Gemfields owns 75% of Montepuez, with the other 25% being held by Mozambican company... 

Anglo plans major job cuts, sources say, as investors push for bolder overhaul

By: Reuters Anglo American is planning to cut between 5% and 20% of staff at head offices around the world, sources close to the matter said, in an effort to keep shareholders on side and respond to a commodity price rout that has hit profits. The mining company, which employs some 151 200 staff globally, is... 

Rejected mine water plan deprived 7 000 of jobs – Robinson 

By: Martin Creamer The rejection of a still-workable mine water and slimes dam plan at the stricken Grootvlei gold mine on Gauteng’s East Rand deprived 7 000 squatter camp dwellers of employment and set the mine on its downward trajectory, which has arguably ended up as the harshest aspect of the Aurora liquidation... 

Rejected mine water plan deprived 7 000 of jobs – Robinson
Photo by Daune Daws
Dr RE (Robbie) Robinson (right) and Martin Creamer

Asian Mineral Resources appoints new board member

By: Megan van Wyngaardt Nickel miner Asian Mineral Resources (AMR) has appointed Evgenij Iorich to its board of directors, replacing Stephen Gill, who recently retired. The company owned and operated the 6 400 t Ban Phuc nickel mine in Vietnam. 

SouthGobi former CEO claims $1m in damages

By: Megan van Wyngaardt Dual-listed SouthGobi Resources’ former president and CEO Alexander Molyneux served the Mongolia-focused metallurgical and thermal coal miner with a notice of civil claim, filed in the British Columbia Supreme Court, it said on Thursday. The claim related to alleged breaches of Molyneux's... 

ArcelorMittal Mexico unit to slash 2 800 jobs

By: Reuters ArcelorMittal, the world's largest producer of steel, will cut 2 800 jobs at its Mexico unit as global prices slump, it said in a joint statement with local competitors on Wednesday, while accusing Russia, China and Turkey of dumping steel on markets at levels below production costs. Altos Hornos... 

ArcelorMittal Mexico unit to slash 2 800 jobs

Work with govt to simplify mining policy – Rossouw

By: Martin Creamer The time had come for the private sector to start making it clear that it wished to work with government to simplify mining policy and collaborate towards less regulation and greater implementation. “Step up and get involved in providing meaningful information and honest comment,” thought leader... 

Work with govt to simplify mining policy – Rossouw
Photo by Duane Daws
Mike Rossouw

All three Atlas mines up and running as Mount Webber resumes operations

By: Mariaan Webb Iron-ore miner Atlas Iron has restarted mining operations at its Mount Webber mine, in the Pilbara, and said on Wednesday that processing would resume in mid-July. Mount Webber was the last Atlas mine to resume operations in the Pilbara and with all three its mines now back in production, the... 

All three Atlas mines up and running as Mount Webber resumes operations

GBM Resources partners with Chinese group

By: Creamer Media Reporter Australian resources company GBM Resources has formalised an agreement with China’s Jiangxi Centre Mining (JCM), which will provide the ASX-listed company with a funding strategy to explore and develop its projects. GBM, which is building a gold portfolio in Malaysia and the east coast of... 

China targets counterweight in gold trade with yuan fix

By: Reuters A decade after China kicked off a series of gold market reforms, plans to establish a yuan price fix mark one of Beijing's biggest step so far to capitalise on the country's position as the world's top producer and a leading consumer. While no immediate threat to the gold pricing dominance of... 

China targets counterweight in gold trade with yuan fix

Indophil expects mid-July deal with Glencore on $5.9bn Philippine mine

By: Reuters Indophil Resources said a final agreement may be signed in the middle of July allowing it to take control of the long-delayed $5.9-billion Tampakan copper/gold project in the Philippines from Glencore. Indophil, previously listed in Australia until its takeover this year by the Philippines'... 

Mine mechanisation linked to local equipment retains jobs – Jourdan 

By: Martin Creamer Resource development strategist Dr Paul Jourdan this week called for the local manufacture of mechanised mining equipment to neutralise job losses during the switch to machines. The former Mintek president says that even though mechanisation “massively” increases the quality of work in mines and... 

Mine mechanisation linked to local equipment retains jobs – Jourdan
Photo by Creamer Media
Paul Jourdan

Polish mining gear maker Kopex going abroad to defy mining slump

By: Reuters Polish mining machinery maker Kopex is looking for contracts abroad, bracing for a fall in its 2015 net profit due to a crisis in the local coal sector, its chief executive said. Poland's coal mining giants, which have been Kopex's main clients for years, have minimised their investment spending... 

KWG acquires 100% chromium IP

By: Sashnee Moodley Chromite explorer KWG Resources reported on Monday that it had acquired 100% ownership rights in two US provisional patent applications relating to the production of chromium iron alloys directly from chromite ore and the production of low carbon chromium iron alloys directly from chromite... 

Slow formation of district mineral funds to hold back auctions

By: Ajoy K Das Indian provincial governments’ tardy progress in setting up mandatory district mineral funds (DMFs) is likely to delay mineral auctions. Except for Goa and Madhya Pradesh, no other provincial government has completed the process of creating and notifying DMFs in their respective mineral-bearing... 

Global mining exploration in crisis, but not hopeless – report

By: Megan van Wyngaardt Global mineral exploration is in crisis, but mining companies can turn their exploration performance around. “Finding orebodies is not all about luck and success is not unpredictable. And while some companies struggle to replace depleted reserves, those that act in a countercyclical way – that... 

Global mining exploration in crisis, but not hopeless – report

BHP announces group management committee changes

By: Creamer Media Reporter BHP Billiton health, safety and environment (HSE) and marketing and technology president Dean Dalla Valle will take responsibility for the diversified miner’s potash portfolio from August 1. In addition to being chief commercial officer in charge of potash, he would retain responsibility for HSE,... 

Australia cuts 2015 iron-ore price forecast by 10%

By: Reuters Australia on Tuesday cut its price forecast for iron-ore in 2015 by 10% to $54.40/t, citing a weak outlook for the commodity's main market, China's steel sector. The forecast by the Department of Industry and Science is a sharp decrease from the $60.40/t predicted three months ago and is way off... 

Australia cuts 2015 iron-ore price forecast by 10%

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

New report outlines value of copper exploration

By: Megan van Wyngaardt When looking at global exploration budgets for copper, which reached $11-billion in 2010, it is evident that the ferrous metal carries perennial importance, mining analysis company SNL Metals & Mining says in its Copper Discoveries 1990-2014 report, released on Monday. “After almost doubling by... 

New report outlines value of copper exploration

Gold climbs as fears over Greece knock stocks, euro

By: Reuters Gold rose on Monday as growing fears over the prospect of a Greek debt default battered European shares and weighed on the euro, but it failed to maintain early sharp gains as investors remained wary of its longer-term outlook. European shares tumbled more than 2% and the single currency slid as... 

India exploring options to incentivise marginal oil and gas block uptake

By: Ajoy K Das India’s Oil and Natural Gas Ministry is examining options of offering incentives to woo investors for marginal oil and gas blocks, a number of which are not finding takers in eastern and north-eastern regions of the country. A Ministry official said it was exploring the viability and legality of... 

Growth, productivity headwinds biggest threats to mining – EY

By: Natalie Greve Procyclical behaviour and short-term focused shareholders have pushed the “switch to growth” to the top of EY’s ranking of business risks facing mining and metals companies globally, the professional services firm revealed in a report released on Monday. The ‘Business risks in mining and metals... 

Growth, productivity headwinds biggest threats to mining – EY

Origin Energy expects Sinopec to fulfil LNG sales contract

By: Creamer Media Reporter Australian energy firm Origin Energy expects Sinopec to fulfil its obligations to buy liquefied natural gas (LNG) from the Australia Pacific LNG joint venture (JV) project, the ASX-listed company said on Monday. Origin responded to speculation that the Chinese buyer might not want all the gas it... 

Rio Tinto pledges to invest in Mongolia copper mine this year - Mongolia PM

By: Reuters Mining company Rio Tinto has pledged to invest at least $250-million to $300-million in the construction of the underground section of the massive Oyu Tolgoi copper and gold mine in Mongolia this year, Mongolia's Prime Minister said on Friday. The second phase of construction at the mine is... 

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