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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... 

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

By: Martin Creamer A horde of banks have 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

Atlas Iron boosts Pilbara resource

By: Esmarie Swanepoel Iron-ore miner Atlas Iron has reported a 25% increase in the total mineral resource at its Corunna Downs project, between its Mt Webber and McPhee Creek projects, in the Pilbara. The resource increase followed on from a maiden inferred mineral resource for the Glen Herring deposit, which was... 

Bookbuild shows ‘strong support’ for Cowal acquisition – Evolution chair

By: Esmarie Swanepoel Gold miner Evolution Mining on Friday completed the institutional component of its accelerated renounceable entitlement offer, raising A$172-million to assist in funding the acquisition of the Cowal mine, in New South Wales. The institutional entitlement offer formed part of the larger... 

Bookbuild shows ‘strong support’ for Cowal acquisition – Evolution chair
Evolution is buying the Cowal mine from Barrick Gold for $550-million.

Auctus offer for Mungana ‘not fair’ – independent expert

By: Esmarie Swanepoel An independent expert has supported ASX-listed Mungana Goldmines’ decision not to accept a takeover offer from Auctus Chillagoe. Auctus launched its 13.5c-a-share offer for all the issued shares in Mungana in April, arguing that the offer gave Mungana shareholders certainty of value and liquidity. 

Fertoz mulling growth options at Canada phosphates project

By: Esmarie Swanepoel ASX-listed Fertoz is considering a number of growth options at its Wapiti phosphate project, in British Columbia, to increase output. A May scoping study indicated that C$2.7-million would be required to develop Stage 1 of the project, which would access resources from a 7-m-deep openpit to... 

Syrah publishes feasibility study for Mozambique graphite project

By: Esmarie Swanepoel A feasibility study has estimated that the Balama graphite project, in Mozambique, would require a capital investment of some $138-million to deliver a 380 000-t/y operation. Project owner Syrah Resources on Friday announced that based on the current maiden Joint Ore Reserves... 

Flow-through share scheme a major source of funds for Canadian juniors in challenging market

By: Henry Lazenby The challenging global capital marketplace has seen the junior mining exploration sector struggle to obtain the funds it needs to look for and find the mineral deposits that will become tomorrow’s new major mines. However, if it were not for Canada’s innovative flow-through share tax incentive,... 

Flow-through share scheme a major source of funds for Canadian juniors in challenging market

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

Lucapa to sign earthmoving deal, lists on Frankfurt Stock Exchange

By: Megan van Wyngaardt Dual-listed Lucapa Diamond Company is set to sign a A$4.5-million deal with unnamed partners to source new Caterpillar earthmoving equipment. The company, which on Thursday completed a secondary listing on the Frankfurt Stock Exchange, said the new equipment would enable diamond mining at its... 

Fly-in, fly-out ‘necessary, but overused’ – unions

By: Creamer Media Reporter Australian trade unions have raised concern about the widespread use of long-distance commuting forms, such as fly-in, fly-out (Fifo) work practices, and have called on federal and state governments to do more to ensure that mining companies provide workers with a choice about their working and... 

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

Gold Road hikes Gruyera mineral resource 44%

By: Esmarie Swanepoel Junior gold developer Gold Road Resources has reported a 44% increase in mineral resources at its Gruyera mineral deposit, in Western Australia. The deposit was estimated to host 137.81-million tonnes, grading 1.24 g/t gold for 5.51-million ounces of gold. This was a 1.67-million ounce increase... 

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... 

Newmont cancels Macmahon contract at NZ mine up for sale

By: Esmarie Swanepoel Project house Macmahon Holdings on Thursday announced that its two-year contract with gold miner Newmont at the Martha mine, in New Zealand, had been cut short owing to safety concerns. The contract, which was valued at A$38-million, had initially been scheduled to complete in April next year;... 

ASX clears the way for Phoenix, Evolution transaction to proceed

By: Esmarie Swanepoel The way has been cleared for ASX-listed Phoenix Gold to complete a strategic alliance with fellow-listed gold miner Evolution Mining, after the ASX granted a waiver from a listing rule. The agreement will also not be subject to Foreign Investment Review Board approval. 

Perseus receives nod to extend Edikan operations

By: Esmarie Swanepoel The Environmental Protection Agency of Ghana has given its approval for ASX- and TSX-listed Perseus Mining to extend mining operations at its Edikan gold mine. Perseus said on Thursday that the approval of the supplementary environmental-impact statement for the Edikan mine would allow the gold... 

Australia iron-ore magnate Rinehart weakened by court ruling

By: Reuters Australian iron-ore magnate Gina Rinehart's eldest daughter won control of the $3-billion dollar family trust on Thursday in a judgment critical of Rinehart's former control of the fund and attempts to block the long-running legal dispute. The Supreme Court of New South Wales judgment loosens... 

WA acquires land for new deep-water port to service West Pilbara

By: Esmarie Swanepoel The Western Australian government has started the formal acquisition process of land necessary for the proposed Anketell deep-water port project, about 30 km east of Karratha. Premier and State Development Minister Colin Barnett said the acquisition was vital to the development of the port,... 

WA acquires land for new deep-water port to service West Pilbara
Western Australia Premier Colin Barnett

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

Definition study enhances Unicorn business case, slashes capex – Dart

By: Mariaan Webb A project definition study of the Unicorn molybdenum, copper, silver and zinc project, in Victoria, has significantly improved the project definition and business case, ASX-listed Dart Mining reported on Wednesday. The company started a 15-month study of the project in March last year, following... 

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... 

New Metallica chairperson named

By: Creamer Media Reporter Development and exploration company Metallica Minerals has appointed Barry Casson its independent nonexecutive chairperson, with effect from June 30, to succeed long-standing chairperson David Barwick, who is retiring as a director. Casson joined the Metallica board on December 1, 2010, as an... 

Doray finalising Deflector funding as it terminates metals stream

By: Creamer Media Reporter ASX-listed Doray Minerals has reached an agreement with Sandstorm Gold to terminate the metals purchase agreement over the Deflector gold project, which MD Allan Kelly said on Wednesday would simplify the financing process for the Western Australian project. Sandstorm previously loaned $6-million... 

Atlas Iron expects up to A$160m impairment charge

By: Mariaan Webb ASX-listed Atlas Iron, which has recently restarted its Pilbara operations, said on Wednesday that it would book an estimated noncash impairment charge of between A$130-million and A$160-million at the end of June, after updating the carrying value of its assets following a further reduction in... 

Atlas Iron expects up to A$160m impairment charge

Ramelius board approves Vivien underground gold mine

By: Mariaan Webb The board of ASX-listed Ramelius Resources has given its approval to start mining at the Vivien gold project, near Leinster in Western Australia, which the company bought from Gold Fields in July last year. Ramelius said on Wednesday that it would mine the Vivien deposit as a three-year... 

China's Zijin buys stakes in gold, copper projects

By: Reuters China's Zijin Mining Group , which announced two acquisitions on Tuesday for more than $700-million, believes now is the good time to buy overseas assets as the mining sector is weak, a senior executive said on Wednesday. "In terms of acquisitions, now is the low level (of prices), good... 

China's Zijin Mining extends global reach with Barrick, Ivanhoe partnerships; Aus offer

By: Henry Lazenby One of China’s largest mining companies Zijin Mining Group has extended its global reach after forming two new long-term mining partnerships with Western miners, while sustaining an aggressive pursuit of an Australian gold miner.  The world’s largest gold producer by output Barrick Gold on... 

China's Zijin Mining extends global reach with Barrick, Ivanhoe partnerships; Aus offer
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