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Asia News

BHP on track for 7% volume growth in FY2018; guidance intact

By: Henry Lazenby     Updated 2 hours 43 minutes ago The world’s largest mining house BHP Billiton said on Tuesday it remains on track for a 7% volume growth in the 2018 financial year, leaving its full-year 2018 guidance unaltered. The Melbourne, Australia-based miner reported its operating results for the three months ended September 30,... 

‘Digital effectiveness’ tops EY’s 2017/18 risk radar

By: Henry Lazenby     Updated 4 hours ago Professional services firm EY Global has revealed it annual ‘Top 10 business risks facing mining and metals’ report on Tuesday, with new entry ‘digital’ topping the list of most critical risks facing the mining industry in the coming year. This year’s report has seen a reshuffling with digital... 

‘Digital effectiveness’ tops EY’s 2017/18 risk radar

Miners beware growing cyber risk

By: Henry Lazenby     17th October 2017 Cyber risk has increased in prominence on professional services firm EY’s annual ‘Top 10 business risks facing mining and metals’ report released on Tuesday, jumping to third position from nine in 2016. According to EY, cyber risk is an ever-growing issue — an outcome of increased digital... 

Miners beware growing cyber risk

Young HDSA diamond beneficiators doing well – De Beers 

By: Martin Creamer     17th October 2017 The model launched last year by De Beers for the development of young historically disadvantaged South Africans (HDSAs) as diamond beneficiators is proving highly successful, De Beers Senior VP Sightholder Sales South Africa Mpumi Zikalala said on Tuesday. Speaking to Mining Weekly Online on the... 

Young HDSA diamond beneficiators doing well – De Beers
De Beers Senior VP Sightholder Sales South Africa Mpumi Zikalala talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd and Lionel de Silva.

De Beers’ eighth sales cycle nets $370m

By: Anine Kilian     17th October 2017 Diamond miner De Beers reported revenue of $370-million for its eighth rough diamond sales cycle of this year. This was lower than the $494-million in revenue earned in the eighth sales cycle of 2016. 

Rio Tinto produces more iron-ore and coal, but cuts copper guidance

By: Esmarie Swanepoel     17th October 2017 Diversified major Rio Tinto has reported increased production across its iron-ore and coal assets, but has adjusted its copper output expectations for the full year on the back of delays at the Escondida operation. “The business performed very well in the September quarter, with a strong... 

Rio Tinto produces more iron-ore and coal, but cuts copper guidance
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastian Jacques

Implats buys 15% stake in Waterberg project

By: Anine Kilian     16th October 2017 JSE-listed Impala Platinum (Implats) will buy a combined 15% interest in the Waterberg platinum group metals (PGMs) project from TSX- and NYSE-listed Platinum Group Metals (PTM) and the Japan Oil, Gas and Metals National Corporation (Jogmec) for $30-million. Implats has also secured an option to... 

Implats buys 15% stake in Waterberg project
Photo by Duane Daws
Implats CEO Nico Muller

Exploration, junior culture needed to save mining – Bristow 

By: Martin Creamer     16th October 2017 Unless South Africa starts exploring again and finds new ore deposits, the country will continue to turn out the lights of the mining sector. With poor policy added, disinvestment and lack of interest will ultimately stop South Africa’s mining industry in its tracks, which will deal a colossal... 

Exploration, junior culture needed to save mining – Bristow
Top resources consultant Dr John Bristow outlines the urgent need for exploration to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Philippines' Duterte lifts suspension on gold miner Lepanto

By: Reuters     16th October 2017 Philippine President Rodrigo Duterte has lifted an eight-month suspension order on gold miner Lepanto Consolidated Mining Co, among more than two dozen companies ordered halted by a sacked minister who led an environmental crackdown. Lepanto, which also mines copper and silver, was among 26... 

Lynas sets records in Sept quarter

By: Esmarie Swanepoel     16th October 2017 Rare earths miner Lynas has reported record sales revenue for the three months to September, along with record production and cash flows. Lynas on Monday reported record production of 1 442 t of neodymium and praseodymium (NdPr) during the quarter, which was up 22.6% on the previous corresponding... 

London's gold crown slips on MiFID with New York poised to catch

By: Bloomberg     16th October 2017 London is losing its Midas touch. New rules from regulators, on top of uncertainties over the UK’s future relationship with the European Union, are denting the city’s position as the biggest center for gold trading in the world. The changes threaten to push up costs, a key competitive advantage... 

Palladium tops $1 000 for first time since 2001 on auto catalysts

By: Bloomberg     16th October 2017 Palladium climbed above $1 000 an ounce for the first time since 2001 as demand grows for the metal in pollution-control devices for gasoline-powered vehicles. The metal rose as much as 1% to $1 000.84 on Monday. Prices have advanced 47% this year, outperforming other precious metals, with gold... 

US demands regional steel, aluminum in Nafta auto rules

By: Reuters     16th October 2017 The Trump administration is demanding the use of North American-made steel, aluminum, copper and plastic resins in cars and trucks sold under North American Free Trade Agreement rules, as it seeks to give US industry a boost. People briefed on the matter said US negotiators issued the proposal,... 

Skeena starts underground exploration at Snip

By: Henry Lazenby     13th October 2017 Exploration and development company Skeena Resources has started underground drilling at its 100%-owned Snip gold project, located in the Golden Triangle of northwest British Columbia. The programme will comprise 9 000 m of drilling spread across 73 holes. 

As race for energy metals heats up, nickel expected to benefit most from EV revolution

By: Henry Lazenby     13th October 2017 Nickel prices stand to gain most from the advent of electric vehicles (EVs), Bank of America Merrill Lynch (BofAML) said on Friday in its latest ‘Global Metals Weekly’ report. According to the research team, despite China remaining an important driver of market demand, following on from being the... 

As race for energy metals heats up, nickel expected to benefit most from EV revolution
Photo by Thakadu Battery Materials
A lack of investment in mining capacity may mean that the battery industry could face an extended period of nickel sulphate supply shortfalls

Iron-ore rallies as China imports bust 100Mt level

By: Bloomberg     13th October 2017 Iron-ore imports by China surged above 100-million metric tons to a record, smashing the previous high set in 2015, as the country’s concerted push to clean up the environment stoked demand for higher-grade material from overseas while hurting local mine supply. Prices rallied. 

Glencore, Japan's Tohoku Electric set annual coal price at $94.75/T - sources

By: Reuters     13th October 2017 Glencore Plc and Tohoku Electric Power Co have settled an Australian thermal coal import contract for October 2017-September 2018 at $94.75/t, the same price as the term contract that ended last month, people familiar with the matter said on Friday. The price set for the year starting this month... 

Mitsui to build BHP desalination plant in Chile

By: Reuters     13th October 2017 Japan's Mitsui & Co plans to build a desalination plant for BHP Billiton's Spence copper mine in Chile, it said on Thursday. Mitsui is building the plant through a joint operation with Técnicas de Desalinazación de Aguas, it said in a statement. 

Barrick’s Q3 output shrinks 10%

By: Henry Lazenby     13th October 2017 The world’s largest gold producer by output Barrick Gold has reported 10% fewer ounces produced at all its major mines for the three months ended September 30, according to the company’s third-quarter production results, published on Thursday. The Toronto-headquartered company produced... 

Barrick’s Q3 output shrinks 10%

China gobbles Amazon rainforest ore to clean polluted skies

By: Bloomberg     12th October 2017 A bid by China to clean up pollution in its biggest cities and industrial towns is fueling a push to mine resource riches on the other side of the globe in the Amazon rainforest -- one of the most environmentally sensitive areas on Earth. Smog-laden skies across the world’s most-populated country... 

Harmony lifts Q1 gold production

By: African News Agency      12th October 2017 JSE-listed Harmony Gold said on Thursday that gold production from its South African underground operations will be 12% to 14% higher quarter-on-quarter, due to an increase in both volumes and recovered grade. This comes ahead of the release next month of Harmony’s production results for the... 

Minergy’s Botswana coal project given quantity, quality boost

By: Martin Creamer     12th October 2017 Coal mining and trading company Minergy on Thursday reported both a quantity and quality boost to its Masama coal project in Botswana. The company, headed by CEO Andre Bojé, plans to build an opencast coal mine at Masama with the potential to produce 2.4-million tonnes of coal a year. 

Minergy’s Botswana coal project given quantity, quality boost
Minergy CEO Andre Bojé

Zinc deficit grows 30% in first eight months of 2017; lead narrows gap – ILZSG

By: Henry Lazenby     11th October 2017 The zinc supply gap has widened by 30% year-on-year for the first eight months of this year, new data published by the International Lead and Zinc Study Group (ILZSG) shows. The Lisbon, Portugal-based organisation on Wednesday said the zinc deficit had grown from 221 000 t over the same... 

Zinc deficit grows 30% in first eight months of 2017; lead narrows gap – ILZSG

South Africa should consider agromining – US professor 

By: Martin Creamer     11th October 2017 South Africans, who have been mining for metals for more than a century, were this week urged to farm for metals. South African-born Stephen Haggerty, a distinguished research professor of Florida International University in the US who spoke to Mining Weekly Online while in Johannesburg, outlined... 

South Africa should consider agromining – US professor
Florida International University distinguished research professor Stephen E Haggerty talks to Mining Weekly Online’s Martin Creamer on the potential to farm for metals. Photographs: Duane Daws. Video and Video Editing: Lionel de Silva.

China's top coke producer to curb output in pollution war

By: Reuters     11th October 2017 China's top coke producer Shanxi Coking will slash output for coke and some chemical products including tar and methanol during the coming winter months as part of Beijing's campaign against air pollution. The company will trim around 900 000 t of coke and 360 000 t of chemicals from production... 

ARM appoints two nonexecutive directors

By: Martin Creamer     11th October 2017 Diversified mining company African Rainbow Minerals (ARM) on Wednesday announced the appointment of two new nonexecutive directors. They are David Noko, who has been appointed as an independent nonexecutive director, and Jan Steenkamp, who has been appointed as a nonexecutive director. 

ARM appoints two nonexecutive directors
David Noko

Cautious investors still favouring gold royalty companies over miners

By: Reuters     11th October 2017 Investors in precious metals are opting for streaming and royalty companies over pure gold and silver miners this year despite a rise in metal prices, as producers struggle to win confidence in their ability to capitalise on the rally. Streaming and royalty companies provide financing for... 

NTPC to ratchet up coal production from captive mines

By: Ajoy K Das     11th October 2017 India’s largest power utility, NTPC, is aiming to source as much as 67% of its thermal coal requirement from captive mines within the next year. NTPC, which has been allocated ten coal blocks for captive mining, has already initiated a process of opening technical bids, awarding contracts and... 

Coal India signs salary increase deal with workers unions

By: Bloomberg     11th October 2017 Coal India Limited signed an agreement with workers unions to raise salaries of its non-executive staff, ending months of negotiations over the increase that affects pay until 2021. The State-run miner will incur an average annual cost of 56.67-billion rupees ($868-million) because of the rise,... 

Kingrose to re-engineer ‘uneconomic’ Talang Santo underground mine

By: Esmarie Swanepoel     11th October 2017 Gold miner Kingsrose Mining on Wednesday announced that underground operations at its Talang Santo mine, in Indonesia, would be progressively suspended from the middle of this month, as the operation was proving to be uneconomic. The ASX-listed explained that production at Talang Santo has... 

Kingrose to re-engineer ‘uneconomic’ Talang Santo underground mine

Argosy says Qingdoa seeks to terminate Rincon lithium offtake deal

By: Esmarie Swanepoel     11th October 2017 ASX-listed Argosy Minerals will resist attempts by China’s Qingdoa Qianyun High-tech New Material Company to terminate an offtake agreement over the Rincon lithium project, in Argentina. In August, the two companies executed an equity placement and preliminary offtake agreement worth... 

Cokal raises A$4m to get started on BBM Stage 2

By: Esmarie Swanepoel     11th October 2017 Coal producer Cokal has announced plans to raise A$4-million to assist in funding the Stage 2 development of its flagship Bumi Barito Mineral (BBM) project, in Indonesia, as Stage 1 production continues apace. The miner on Wednesday reported that Stage 1 of the BBM asset was achieving... 

Exxaro sells Tronox shares for R6.5bn

By: Martin Creamer     11th October 2017 Diversified mining company Exxaro Resources has completed the sale of a portion of its shareholding in American mineral sands company Tronox for R6.5-billion. Exxaro, headed by CEO Mxolisi Mgojo, said on Wednesday that it had raised $474-million from the sale of 22 425 000 class A ordinary shares... 

Exxaro sells Tronox shares for R6.5bn
Photo by Duane Daws
Exxaro CEO Mxolisi Mgojo

Japan Gold expands portfolio

By: Henry Lazenby     11th October 2017 TSX-V-listed exploration junior Japan Gold has expanded its epithermal gold exploration portfolio in Japan with the addition of two new projects in the prospective Southern Kyushu epithermal gold province. The Vancouver-headquartered company advised that the Tobaru and Ohra-Takamine projects... 

Gamsberg zinc prestrip close to halfway mark – Vedanta

By: Martin Creamer     10th October 2017 The prestripping of waste rock at the Gamsberg zinc mine project in the Northern Cape is close to the halfway mark, Vedanta Resources reported on Tuesday, when its interim CEO Kuldip Kaura described as “strong” the quarterly production performances of the London-listed, India-rooted mining... 

Gamsberg zinc prestrip close to halfway mark – Vedanta
Photo by Duane Daws
Activity at the Gamsberg zinc mine project.

Gold, zinc explorers spearhead reversal of five-year global exploration downturn

By: Samantha Herbst     10th October 2017 Boosted by increased exploration efforts in the gold and zinc sectors, the global nonferrous exploration budget is up in 2017 – for the first time since 2012 – by more than 14%, year-on-year, to $7.95-billion, according to new analysis by S&P Global Market Intelligence. The twenty-eighth edition... 

Gold, zinc explorers spearhead reversal of five-year global exploration downturn

Mustang granted Montepuez mining concession

By: Creamer Media Reporter      10th October 2017 The Mozambique Minerals and Energy Ministry has granted ASX-listed Mustang Resources a mining concession for its Montepuez project. The concession is valid until September 2042 and paves the way for the company to increase its processing capacity, as planned, following its maiden tender. 

Tharisa reports best production year

By: Martin Creamer     10th October 2017 Platinum group metals (PGM) and chrome co-producer Tharisa on Tuesday reported a record fourth quarter, which nudged the company to its best yearly production performance to date in the 12 months to September 30. The JSE-listed company, headed by CEO Phoevos Pouroulis, said in a release to... 

Tharisa reports best production year
Tharisa CEO Phoevos Pouroulis
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