http://www.miningweekly.com
R/€ = 15.71 Change: 0.00
R/$ = 14.31 Change: -0.08
Au 1317.13 $/oz Change: -6.27
Pt 1074.00 $/oz Change: -11.50
 

Asia News

Vedanta sweetens deal for Cairn merger to sway shareholders

By: Bloomberg     22nd July 2016 Vedanta sweetened the deal for Cairn India Ltd. shareholders by increasing the number of preference shares four times to salvage a deal which would help create a natural-resources group to compete with BHP Billiton and Vale. Vedanta will offer minority shareholders of Cairn India one equity share... 

‘New class of gold investor’ may emerge amid global uncertainties

By: Dylan Slater     22nd July 2016 The World Gold Council (WGC) believes that an “entirely new class of gold investor” could emerge because of the significant global increase in the interest in gold stocks, following the Brexit vote – the British exit from the European Union (EU). “As a high-quality, liquid asset, we believe gold... 

‘New class of gold investor’ may emerge amid global uncertainties

Soaring DRDGold adds R14bn a year to economy as it turns waste to gold  

By: Martin Creamer     21st July 2016 By taking material that has been dumped as waste and turning it into gold, DRDGold is adding R14-billion worth of value a year to the South African economy and unlocking scarce real estate for gainful development, a visiting media contingent heard on Thursday. “[That is] R14-billion rands worth... 

Soaring DRDGold adds R14bn a year to economy as it turns waste to gold
DRDGold CEO Niël Pretorius spells out Ergo’s multi-billion-rand economic contribution to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer. 21.7.2016

Kingsrose raises A$8.5m for Indonesia mine

By: Creamer Media Reporter      21st July 2016 ASX-listed Kingsrose Mining has secured commitments to raise A$8.5-million in a two-tranche share placement at 12c a share to fund the ongoing mine development in Indonesia. The proceeds of the raising will be applied primarily to the ongoing mine development at Talang Santo, including the... 

Japan’s Komatsu to buy US Joy Global for $2.89bn

By: Bloomberg     21st July 2016 Komatsu, the world’s second-biggest mining and construction equipment maker, agreed to buy Joy Global for $2.89-billion, in a deal signaling the Japanese company is optimistic that a recent rebound in commodities prices will endure. Tokyo-based Komatsu will pay $28.30 a share in cash for the... 

India sets up another committee to review iron-ore pricing

By: Ajoy K Das     21st July 2016 The Indian Steel Ministry will soon conduct a review of iron-ore pricing, which will include a probe of the country’s largest miner, NMDC Limited, and the e-auction processes for price discovery. The Steel Ministry plans to set up a committee of experts to complete the pricing review. 

Anglo ups South African export coal output as diamond, iron-ore volumes fall

By: Martin Creamer     20th July 2016 Diversified mining company Anglo American upped South African export coal production in the three months to June 30, which saw local diamond and iron-ore output fall appreciably. While Eskom-related production remained broadly unchanged in the second quarter, export coal production rose 8% to... 

Anglo ups South African export coal output as diamond, iron-ore volumes fall
Photo by Duane Daws
Anglo American CE Mark Cutifani

Stanmore reports production results from Isaac Plains

By: Mariaan Webb     20th July 2016 The Isaac Plains coal mine, which Stanmore Coal reopened earlier this year, has managed to produce 231-million tonnes in the June quarter, which marked the ramp-up phase of operations. Stanmore reported on Wednesday that it had sold 156-million tonnes from the Queensland mine, which it bought... 

Gold is not all that glisters – diamonds act as hedge for the rich

By: Reuters     20th July 2016 In a packed Christie's auction room in Geneva, one could hear a pin drop as two anonymous bidders slugged it out in their quest to own the world's most exquisite blue diamond. The room in the Four Seasons Hotel des Bergues was filled with multi-millionaire collectors and diamond dealers,... 

US expands its WTO challenge to China export limits to chromium, other metals

By: Reuters     19th July 2016 The US has expanded its challenge at the World Trade Organisation to China's export restraints on raw materials to include export duties on chromium, as well as its export quotas on antimony, indium, magnesia, talc and tin, the US Trade Representative said on Tuesday. Those raw materials "are... 

Gold miners set to relax death grip on spending as caution eases

By: Bloomberg     19th July 2016 With gold prices posting the best first half in almost four decades, the coming round of earnings reports may provide signs miners are preparing to ease their collective death grip on spending. Big producers had focused on deferring projects, curtailing operations and otherwise slashing costs and... 

Gold miners set to relax death grip on spending as caution eases

Judgment shows courts won’t easily endorse Mining Charter III's blunt arithmetical quotas – Leon

By: Martin Creamer     19th July 2016 Mineral Resources Minister Mosebenzi Zwane would do well to ponder last Friday’s landmark Constitutional Court judgment as he and his department mull public comments on the draft reviewed Mining Charter that he sprung on the South African mining industry in a surprise April gazetting. This is... 

Judgment shows courts won’t easily endorse Mining Charter III's blunt arithmetical quotas – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Peter Leon,

EU launches WTO challenge to Chinese raw material duties

By: Reuters     19th July 2016 The European Union launched a third legal challenge on Tuesday to restrictions on Chinese exports of 11 key metals and materials, joining the United States in suing Beijing for unfairly favouring Chinese industry. The bloc is seeking formal consultations with China, the first step in World Trade... 

Zinc climbs to highest in more than a year on shortage worries

By: Bloomberg     19th July 2016 Zinc extended its advance to the highest level in more than a year on concerns over a looming supply deficit. The metal used to galvanize steel rose as much as 1.3% to $2 246 a metric ton on the London Metal Exchange, the highest since May last year, and traded at $2 241 by 3:03 p.m. Shanghai... 

Emerald and Renaissance announce merger

By: Mariaan Webb     19th July 2016 ASX-listed joint venture partners Emerald Resources and Renaissance Minerals will join forces to create a A$95-million gold development company, whose main focus will be a gold project in Cambodia. In terms of the definitive bid implementation agreement, announced on Tuesday, Emerald would... 

Turkish gold miners operate unhindered during attempted coup

By: Henry Lazenby     18th July 2016 Turkey-focused miner Alacer Gold reported Sunday that the Çöpler mine was operating as normal and that there were no local disruptions in the wake of a military coup d'état attempt on the government of Turkish President Recep Tayyip Erdoğan. The TSX- and ASX-listed company reported that after it... 

Turkish gold miners operate unhindered during attempted coup

Magnetite inks letter of intent with Chinese steelmaker

By: Samantha Herbst     18th July 2016 ASX-listed Magnetite Mines and Lodestone Equities are collaborating with Shandong Iron and Steel Group, to develop the magnetite resources of South Australia’s Mawson iron province, following a non-binding letter of intent (LoI) signed on Friday. Shandong currently produces 22-million tonnes a... 

Tax Bill throws up royalty surprises as Davis Tax Committee mulls broader mining reforms 

By: Martin Creamer     18th July 2016 The Taxation Laws Amendment Bill released on July 8 contains two surprise amendments to mineral royalty taxation on the eve of the Davis Tax Committee’s next mining tax report, which is expected to provide the royalty regime with much needed certainty. The two amendments proposed in the Bill,... 

Tax Bill throws up royalty surprises as Davis Tax Committee mulls broader mining reforms
KPMG tax head Muhammad Saloojee talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Exxon’s $2.5bn bid for PNG’s InterOil tops Oil Search

By: Bloomberg     18th July 2016 Exxon Mobil is doubling down on Papua New Guinea, topping a rival offer for InterOil, a gas explorer focused on the Southeast Asian nation. The energy giant’s offer values InterOil at $2.5-billion, including debt, beating an earlier bid from Oil Search and Total SA. Exxon already runs Papua New... 

Exxon’s $2.5bn bid for PNG’s InterOil tops Oil Search

Silver outshines gold with robust H1 performance

By: Simon Rees     15th July 2016 While silver is sometimes called “poor man’s gold”, it has nevertheless outshone the yellow metal’s performance in recent months. Silver reached $20.47/oz on the July 11 London Bullion Market Association fix, a level not seen in almost two years. This was compared with a year-start fix of $14/oz... 

Silver outshines gold with robust H1 performance

Nickel rally to lose strength by year-end; aluminium settles into lower-for-longer pattern

By: Henry Lazenby     15th July 2016 New forecasts by BMI predict nickel prices will rise in the short term, however, the rally will taper off by year-end, as heightened Chinese refined nickel imports and ore supply disruptions from the Philippines buoy prices. However, the Fitch group research firm says positive long-term... 

Nickel rally to lose strength by year-end; aluminium settles into lower-for-longer pattern

Global nickel market deficit widens to over 11 000 t in May – INSG

By: Reuters     15th July 2016 The global nickel market deficit widened to 11 200 t in May, as low prices weighed on refined output from top producer China while demand slowly improved, data from the International Nickel Study Group showed on Friday. But strong yearly production from mines in Indonesia and a revival in output... 

Coal India sees rising import costs helping to trim stockpiles

By: Bloomberg     15th July 2016 Coal India, the world’s biggest producer of the fuel, sees rising international prices helping it shrink swollen stockpiles and gain more buyers as domestic customers shun imports in favor of local supplies. Increasing Australian and South African prices have made imports more expensive, which... 

Indian group could build power plant at Moz coal mine

By: Keith Campbell     15th July 2016 Indian coal company International Coal Ventures Limited (ICVL) is considering building a thermal power plant at its Benga coal mine in Mozambique’s Tete province. ICVL is a consortium of State-owned companies, originally created in 2009 in an initiative by the Ministry of Steel, the main members... 

India's coal shift a double whammy for Indonesian exporters

By: Reuters     14th July 2016 For many coal miners in Indonesia's resource-dependent economy, a surprise shift in India's coal industry - from big importer to potential exporter - could not have come at a worse time. Prices have slumped over the past five years and a slowing China is buying less. Now, Indonesia faces an... 

India’s SCCL to appoint MDOs for all future coal block development projects

By: Ajoy K Das     14th July 2016 In a shift from the ‘do-it-yourself’ method, southern India-based Singareni Collieries Company Limited (SCCL) will appoint mine developers and operators (MDOs) for coal projects outside its present operational hinterland. The 127-year-old company, which operates 47 mines – 16 opencast and 31... 

US challenges China raw material export duties in trade enforcement push

By: Reuters     14th July 2016 The US challenged China's export duties on nine key metals and minerals on Wednesday, arguing that they violate Beijing's commitments to the World Trade Organisation (WTO) and give an unfair advantage to Chinese manufacturers. The move came with the Obama administration eager to demonstrate that... 

Copper outlook dim as macroeconomic challenges loom

By: Henry Lazenby     14th July 2016 The copper price is set to dip during the second half of the year, as poor producer discipline, higher output and lower Chinese demand growth combine for a fifth consecutive year of price decline in 2016, according to a new report by market analysts at Thomson Reuters GFMS. Analysts expected... 

Copper outlook dim as macroeconomic challenges loom

Silver jumps 50%, but beware the devil's metal

By: Reuters     13th July 2016 Silver prices have leapt nearly 50% so far this year, reversing three years of losses, but history shows that investors hoping to hop aboard the bandwagon should be wary. A surge in gold and upbeat prices of industrial metals, along with prospects for yet more monetary stimulus from leading... 

Silver jumps 50%, but beware the devil's metal

India’s IBM lays down micro management systems for mines

By: Ajoy K Das     13th July 2016 India’s multidisciplinary mining industry body, Indian Bureau of Mines (IBM), has ordered dedicated sustainable development units (SDUs) at each mine or leasehold area to implement the government’s Sustainable Development Framework (SDF) though the newly instituted ‘star rating of mines’.... 

Iron-ore’s rapid surge prompts Macquarie to sound the alarm

By: Bloomberg     13th July 2016 iron-ore’s rally to a two-month high just prompted Macquarie Group Ltd. to sound the alarm as the bank says gains may be well beyond fundamentals, with abundant supply from miners, inventories stacking up at China’s ports and steel production set to contract. While speculation about stimulus in... 

New SEC ruling eases transparency reporting burden on extractive sector

By: Henry Lazenby     12th July 2016 New rules adopted late in June by issuers reporting under the US Securities and Exchange Commission (SEC) held the promise that oil, gas and mining companies operating in Canada, which file annual transparency reports, might now be able to use that same report to meet new US requirements.... 

India’s Vedanta inks underground mining technology deal with South African firms

By: Natasha Odendaal     12th July 2016 Diversified natural resources company Vedanta has inked two agreements with South African firms to improve the safety and productivity of the company’s subsidiary Hindustan Zinc’s mechanised underground mines, in India. Two memoranda of agreement (MoA) were signed for the development and supply... 

India’s Vedanta inks underground mining technology deal with South African firms
Photo by Bloomberg
Vedanta chairperson Anil Agarwal

Galaxy signs second offtake agreement for Mt Cattlin

By: Mariaan Webb     12th July 2016 Lithium miner Galaxy Resources and its Mt Cattlin project partner General Mining Corporation have signed a second binding offtake agreement for lithium concentrate from the Western Australian project. The second offtake agreement, which also involved a Chinese buyer, would see Galaxy and General... 

Unloved coal seen surging as China cuts collide with La Nina

By: Bloomberg     12th July 2016 Thermal coal prices in Asia may jump as much as 50% if rainfall caused by La Nina is heavier than expected, further tightening the market as China cuts production, according to Citigroup. Prices at the Australian port of Newcastle, an Asian benchmark, may increase to $90 a metric ton if La Nina... 

Fossil fuel industry risks losing $33tn to climate change

By: Bloomberg     12th July 2016 The fossil fuel industry risks losing $33-trillion in revenue over the next 25 years as global warming may drive companies to leave oil, natural gas and coal in the ground, according to a Barclays Plc energy analyst. Government regulations and other efforts to cut carbon emissions will inevitably... 

Nickel leads metals higher as Goldman sees $12 000 in six months

By: Bloomberg     12th July 2016 Nickel led metals higher, climbing for a third day, as Goldman Sachs Group Inc. predicted an almost 20% jump in prices in the next six months because of supply cuts in the Philippines, the biggest ore producer. The metal added as much as 1.4% to $10 190 a metric ton on the London Metal Exchange... 

Honda codevelops first hybrid car motor free of heavy rare earth metals

By: Reuters     12th July 2016 Honda Motor Co on Tuesday said it has codeveloped the world's first motor for hybrid cars that uses no heavy rare earth metals, a breakthrough that would reduce its dependence on the expensive materials, which are controlled mainly by China. Hybrid vehicles, which combine a gasoline engine and... 

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 $119 Close