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Iron-ore derivatives trade gathers pace as steel consumers pile in

By: Reuters     Updated 54 minutes ago The derivatives market for iron-ore is reaching a tipping point in its strong growth as steel consumers pile in, with contracts traded outside China expected to reach around a billion tonnes this year. Iron-ore derivatives traded on the Singapore Exchange (SGX) have roughly doubled in volume... 

Coal organisation appoints two new bigwigs

By: Megan van Wyngaardt     Updated 4 hours ago Global coal industry body, the World Coal Association (WCA) has appointed Benjamin Sporton as its new CEO and Mick Buffier as chairperson. “The new leadership marks an important change at the WCA, as it repositions itself to more fully engage on the global challenges facing the coal industry,”... 

Coal organisation appoints two new bigwigs

Remote mining operations should spread more grassroots benefits

By: Simon Rees     Updated 4 hours ago As the mining industry was increasingly looking for world-class deposits in more remote jurisdictions, issues surrounding risk and engagement had become more pressing, seeing as local demands and often-shifting regulatory goal posts complicated many a project developer's plans. Former general... 

Strong calls for incentives for South African juniors

By: Martin Creamer     Updated 5 hours ago Strong calls were made on Wednesday for South Africa to come into line with countries like Canada and Australia by introducing effective incentives for its junior miners as a way of spurring mineral exploration. Speaking on funding and what South Africa could learn from other economies, several... 

Strong calls for incentives for South African juniors
Photo by Duane Daws
Bakgatla-Ba-Kgafela Investment Holdings CEO Noah Greenhill

Australia govt report highlights India thermal coal opportunities

By: Esmarie Swanepoel The Minerals Council of Australia (MCA) has welcomed the federal government’s report on the use of coal in India, saying it provided additional opportunities for Australian producers to become more involved in that country. The MCA’s executive director of coal, Greg Evans, stated that while... 

Gold mining puts $171bn into global economy – World Gold Council

By: Martin Creamer The global gold mining industry collectively contributed $171.6-billion-plus to the global economy in 2013, which is more than the combined gross domestic product (GDP) of Ecuador, Ghana and Tanzania, or close to half of the GDP of South Africa or Denmark. The World Gold Council (WGC) report on... 

Gold mining puts $171bn into global economy – World Gold Council
John Mulligan

India makes provisions for composite mining licences

By: Ajoy K Das India’s Mines Ministry has provided the industry with a ‘composite mining licence’, conceding to demands and paving the way for the auction of mineral resources. According to a document outlining the rules for the forthcoming mineral resource auctions, the federal government has empowered the... 

Anglo American sees surge in iron-ore sales to India

By: Reuters Global miner Anglo American said its iron-ore sales to India have more than tripled over the past year as Asia's third-largest economy embarks on a once-in-a-generation urbanisation drive. "India is around 15% of our (iron-ore) sales portfolio, or about 6 million tonnes (a year)," David Trotter,... 

Call for jobless mining engineer graduates to spearhead research revolution 

By: Martin Creamer A call was made on Tuesday for the current surfeit of highly trained but jobless South African mining engineering university graduates to be directed towards spearheading a research revolution involving the creation of mining clusters that have agriculture on waste mine land and mineral recovery... 

Call for jobless mining engineer graduates to spearhead research revolution
Photo by Duane Daws
Robbie Robinson (right) and Martin Creamer

Gold dips further below $1 200 on robust US data, dollar

By: Reuters Gold eased further below $1 200 an ounce on Tuesday as the dollar climbed to a fresh 12-and-a-half-year peak against the yen and strong US economic data supported expectations of a Federal Reserve rate hike later this year. Spot gold eased 0.1% to $1 187.10 an ounce by 0257 GMT. The metal had... 

Newcrest hunts for gold in NZ

By: Esmarie Swanepoel Gold major Newcrest Mining has signed a farm-in agreement with fellow listed Laneway Resources that could see the gold miner earn an 80% interest in the Southern Coromandel gold project, in New Zealand. Under the agreement, Newcrest would fund two stages of minimum work programmes, worth an... 

Marine mining could possibly reduce social and environmental impacts of terrestrial operations

By: Henry Lazenby An independent report on Nautilus Minerals’ Solwara 1 project, offshore Papua New Guinea, has found that the project has the potential to significantly reduce social and environmental impacts commonly associated with large surface terrestrial copper mines. Toronto-based Nautilus had commissioned... 

Mining engineering graduates struggling to find jobs

By: Martin Creamer After decades of undersupply, mining engineering graduates are now struggling to find employment. Even more surprising, writes Professor Emeritus Huw Phillips in the latest edition of the Journal of the Southern African Institute of Mining and Metallurgy (SAIMM), is that some of the best... 

Mining engineering graduates struggling to find jobs
Photo by Duane Daws
Huw Phillips

Guildford to acquire 80% in Mongolia coal and power station project

By: Creamer Media Reporter ASX-listed Guildford Coal has signed a memorandum of understanding (MoU) to acquire an 80% stake in a large thermal coal project and associated power station project in Mongolia. The company said on Monday that it would acquire the 600 MW mine-mouth-coalfired Tsaidamnuur project, located 15 km... 

India douses century-old coal fires as Modi seeks output boost 

By: Reuters Prime Minister Narendra Modi is determined to move more than 100 000 people living near coalfields in eastern India to new homes, making it easier to douse underground fires that have burned for a century and mine huge reserves of premium coal. Reviving output from India's nationalised coal... 

India douses century-old coal fires as Modi seeks output boost

Platinum sector faces its Kodak moment in fuel cell technology

By: Reuters Platinum miners betting on fuel cell vehicles to help boost demand for the precious metal and lift moribund prices are in danger of having their hopes dashed, at least in the medium term: electric and hybrid cars are taking a bigger share of the market. The world's three largest platinum... 

Japan push into Africa resources sputters, helps China

By: Reuters A Japanese government drive to secure access to resources in Africa has sputtered as some companies shy away from investing due to slumping commodity prices and worries over political stability, helping China as it races to import raw materials from the continent. Around two years ago, Japan said... 

CIL incremental production to be offered under auctioned supply linkages

By: Ajoy K Das In a bid to placate opposition, India’s Coal Ministry has proposed that only incremental coal produced by Coal India Limited (CIL) would be earmarked for supplies through auctioned linkages to user industries. According to a proposal firmed up by an inter-Ministerial committee, user industries... 

Banks fall over themselves to grant Glencore $15.25-billion in revolving credit

By: Martin Creamer A horde of banks has seemingly rushed in eagerly to grant an eventual $15.25-billion worth of revolving credit facilities to diversified mining and marketing major Glencore, as part of a refinancing exercise. Initially launched at $14-billion, the credit facilities of the London-, Hong Kong- and... 

Banks fall over themselves to grant Glencore $15.25-billion in revolving credit
Photo by Bloomberg
Iavn Glasenberg

Mongolia to issue $1bn in bonds to help ease cash shortfall

By: Reuters Mongolia plans to issue a $1-billion debt offering to put its fiscal affairs back in order, it said on Thursday, as it tries to ride a wave of good will that arose from a $6-billion deal with global miner Rio Tinto for its giant Oyu Tolgoi copper mine. According to a statement from Thursday's... 

India seeks more private-sector investment in coal mining

By: Keith Campbell In a major reform that is set to transform India’s coal mining sector, the national government in New Delhi is getting ready to auction coal blocks, the production from which would be sold on the open market, to the private sector. Hitherto, private sector companies in India could only own and... 

Quick action needed to prevent collapse of global coal sector – Prevost

By: Martin Creamer Quick action was needed to prevent the collapse of the global coal sector, XMP Consulting senior coal analyst Xavier Prevost warned on Thursday. Addressing the Fossil Fuel Foundation junior coal mining conference – from which two Department of Mineral Resources (DMR) officials down to speak... 

Quick action needed to prevent collapse of global coal sector – Prevost

Platinum-powered Hyundais take to the UK streets

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about Korean automotive manufacturer Hyundai fuel cell ix35 vehicle, which will stimulate future demand for platinum. 

Platinum-powered Hyundais take to the UK streets

Andile Sangqu to head Anglo South Africa 

By: Martin Creamer Andile Sangqu, former Xstrata and current Impala Platinum executive and new VP of the Chamber of Mines of South Africa, has sprung to further prominence as the new executive head of Anglo American South Africa. Anglo American plc also announced on Thursday that Kumba Iron Ore CEO Norman Mbazima... 

Andile Sangqu to head Anglo South Africa
Norman Mbazima (left) and Andile Sangqu

India’s SCCL lines up $80m for overseas acquisition

By: Ajoy K Das India’s Singareni Collieries Company Limited (SCCL) has set up a corpus of about $80-million to acquire an equity stake in an overseas coal block. The southern India-based miner is seeking to pick up the stake to secure coal supplies of at least five-million tons a year, as part of a plan to ramp... 

India’s SCCL lines up $80m for overseas acquisition

De Beers, six others form Diamond Producers Association 

By: Creamer Media Reporter De Beers has partnered with six other diamond miners to establish the Diamond Producers Association (DPA), which would actively engage with industry and nonindustry organisations to promote the interests of the diamond sector. The other founding members were Alrosa, Rio Tinto, Dominion Diamond... 

De Beers, six others form Diamond Producers Association

Fortescue tie-up with a China steel group makes sense – official

By: Reuters Debt-heavy Australian iron ore miner Fortescue Metals Group could find willing investors in Chinese steel mills anxious to ensure multiple sources of supply for the raw material, a senior Chinese government official said on Thursday. Media reports this week said Fortescue - already about... 

Namibian mining’s pulling together boosting country’s economy – Nedbank 

By: Martin Creamer Despite the Namibian economy being tied to the South African economy, it has been able to grow ahead of South Africa, which a leading mining investment banker puts down to Namibia’s “sensible” mineral policies, as well as the Namibian mining industry’s close working relationship with its... 

Namibian mining’s pulling together boosting country’s economy – Nedbank
Photo by Duane Daws
Paul Miller

Top iron-ore firms unlikely to form cartel and cut output – Goldman

By: Reuters Major iron-ore miners from Australia and Brazil are unlikely to create a cartel and agree on output cuts to shore up prices, with weakening demand expected to intensify competition, Goldman Sachs said. "Efforts to support prices via voluntary production cuts would be counter-productive. In our... 

Top iron-ore firms unlikely to form cartel and cut output – Goldman

Fortescue insists it pays full share of tax to Australia, downplays Singapore company

By: Mariaan Webb Iron-ore miner Fortescue Metals, which has publicly taken on multinational firms such as Rio Tinto and BHP Billiton over their marketing hubs in Singapore, on Wednesday downplayed the importance of a company it had set up in the low-tax island city state in early 2014. Responding to an article in... 

Ports and railways tasked to help India curb illegal mining

By: Ajoy K Das India’s federal government announced it would involve logistical service providers, including ports and railways, along with provincial governments, in the monitoring of illegal mining activity across the country. Each of the provinces had been directed to set up Coordination and Empowered... 

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