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Gold recoverer Goldplat turning attention to platinum opportunity

By: Martin Creamer     Updated 5 hours ago Gold recovery company Goldplat, the South African operations of which generated an operating profit in the three months to September 30, is taking steps to diversify into platinum group metal (PGM) recovery. The London-AIM-listed company, which serves companies including AngloGold Ashanti,... 

Olympic Dam growth only likely when ‘bottlenecked’ mine runs at full capacity

By: Esmarie Swanepoel Diversified miner BHP Billiton on Friday said that the company would look at cost-cutting efficiencies at its Olympic Dam copper and uranium operation, in South Australia, before considering an expansion. “Once we are able to run our existing operation at full capacity, we then – and only then –... 

Olympic Dam growth only likely when ‘bottlenecked’ mine runs at full capacity
The Olympic Dam copper and uranium operation, in South Australia.

New legislation to force Australian firms to publish what they pay

By: Esmarie Swanepoel The Australia-Africa Mining Industry Group (AAMIG) on Friday defended Australian miners operating outside of the country’s borders, following the introduction of the Australian Greens party’s Corporations Amendment Bill 2014. “Australian companies operating in Africa are regarded as being... 

Biswas outlines plan to fix Newcrest’s Lihir gold mine

By: Esmarie Swanepoel The CEO and MD of gold miner Newcrest Mining, Sandeep Biswas, on Friday outlined plans to bring the errant Lihir operation, in Papua New Guinea, under control. “I’ve spent a lot of time understanding the challenges of Lihir and have come to the conclusion that the first phase of improvement must... 

South American miner Troy reports lower output

By: Esmarie Swanepoel Despite reporting a slight decline in production during the three months to September, ASX- and TSX-listed gold miner Troy Resources has maintained its production expectations for the financial year to the end of June 2015. During the quarter under review, group gold production dropped to 20 624... 

Fatality does little to dampen Vantage growth

By: Esmarie Swanepoel Despite a fatality at the Barbrook mine, in South Africa, which resulted in a week’s loss of production, gold miner Vantage Goldfields on Friday reported higher September quarter production. Gold production during the quarter reached 8 466, which was well above the 6 913 oz achieved in the June... 

Teranga revises full-year output

By: Esmarie Swanepoel Senegal-focused gold miner Teranga Gold has downgraded its full-year production expectations by 8 000 oz, after deferring the mining of high-grad ounces and after failing to meet production expectations in the three months to September. The ASX- and TSX-listed miner on Friday reported that gold... 

Didipio set to exceed expectations - OceanaGold

By: Esmarie Swanepoel Dual-listed gold miner OceanaGold on Friday reported that its Didipio project, in the Philippines, was on track to beat full-year expectations, after a stellar third quarter. During the three months to September, the company produced 67 352 oz of gold and 7 978 t of copper, compared with the 60... 

Valence short-lists debt funders

By: Esmarie Swanepoel Graphite miner and manufacturer Valence Industries has short-listed term sheets from a number of debt providers for a A$35-million finance facility to fund the Phase 2 expansion of its operations in South Australia. The short-listing of debt financiers followed a A$15-million capital raise and... 

Low kimberlite discovery rate seen sparking diamond production crisis by turn of decade

By: Jade Davenport The stability of the diamond sector has always been a slave to the fine balance between supply and demand. Over the last century, the industry has had to contend with various crises of oversupply, largely spurred by conflict, global economic instability and the vagaries of consumer demand. As a... 

Low kimberlite discovery rate seen sparking diamond production crisis by turn of decade

Newmont earnings fall on lower prices, beats Street

By: Henry Lazenby Gold producer Newmont Mining has reported lower earnings for the three months ended September 30, as lower sales and metals prices weighed on its balance sheet. However, the Denver, Colorado-based company’s financial results beat analyst forecasts, helped, in part, by lower costs. 

Newmont earnings fall on lower prices, beats Street

Met coal price recovery unlikely until 2016 – Moody’s

By: Henry Lazenby A recovery in metallurgical (met) coal prices to between $135 and $145 a metric tonne is unlikely before the second half of 2016, says Moody’s Investors Service. In its sector commentary ‘Slow China demand, few curtailments push out met coal recovery’, published on Thursday, the firm noted that... 

APLNG still on track for mid-2015 production

By: Esmarie Swanepoel The $24.7-billion Australia Pacific liquefied natural gas (APLNG) was on track to produce its first LNG by mid-2015, project developer Origin Energy’s LNG CEO, David Baldwin, said on Thursday. Full production from both trains were expected by the end of 2016. 

Compliance costing Australian firms A$250bn/y

By: Esmarie Swanepoel Australian companies were spending about A$250-billion each year on efforts to comply with rules and regulations, advisory firm Deloitte reported on Thursday. In its fourth edition of the Building the Lucky Country series, Deloitte noted that about A$95-billion was spent on administering and... 

Compliance costing Australian firms A$250bn/y

Hazelwood targets lower costs, new opportunities in four-part plan

By: Esmarie Swanepoel Tungsten miner Hazelwood Resources is initiating a four-part change management plan aimed at driving down cost and providing a pipeline of further growth opportunities. Executive chairperson Mark Warren said in a letter to shareholders on Thursday that the first focus would be on improving the... 

PanAust expects to hit upper-end of 2014 guidance

By: Esmarie Swanepoel Copper/gold miner PanAust on Thursday told shareholders that the company was on track to meet its full-year production guidance, after reporting a solid quarter in the three months to September. During the quarter under review, the Phu Kham mine, in Laos, produced 16 562 t of copper in... 

Accelerated underground development to save OceanaGold A$215m

By: Esmarie Swanepoel Dual-listed gold miner OceanaGold on Thursday estimated cost savings of about A$215-million between 2018 and 2020 from its Didipio project, in the Philippines, by bringing forward underground production. In September, ASX- and TSX-listed OceanaGold announced that the underground development of... 

South Johnstone proves viable for Queensland Bauxite

By: Esmarie Swanepoel A scoping study into the South Johnstone bauxite project, in Queensland, has confirmed the potential for early production, owner Queensland Bauxite said on Thursday. Based on an initial mining operation of some 800 000 t/y of bauxite, the South Johnstone project was expected to require a capital... 

Australian Bauxite wins public approval

By: Esmarie Swanepoel The development of ASX-listed Australian Bauxite’s Bald Hill project, in Tasmania, was moving apace after no public objections were raised to the project development. The junior bauxite developer said on Thursday that it had now concluded a 28-day public disclosure period for the Bald Hill... 

SME exporters still positive about the future - Efic

New research by specialist financier Efic has revealed cautious optimism amongst Australia’s small- and medium-sized enterprise (SME) exporters, including miners. Efic reported on Thursday that some 40% of exporting SME’s expected increased sales over the next 13 months, with the majority of... 

Lower grades impact on Chatree output - Kingsgate

By: Esmarie Swanepoel Gold miner Kingsgate Consolidated has reported a slight decline in production during the three months to September, compared with the previous quarter, as its Chatree mine, in Thailand, access lower gold grades. Planned maintenance at the Chatree operation also resulted in lower plant... 

Barrick Gold reports narrower Q3 profit on lower sales, prices

By: Henry Lazenby The world’s largest gold producer by output, Barrick Gold, experienced narrower net earnings for the quarter ended September 30, as lower gold and copper sales, as well as lower realised prices impacted on its performance. The Toronto-based miner, with operations in North and South America,... 

Barrick Gold reports narrower Q3 profit on lower sales, prices

300 a year doing mechanised mining courses at Wits centre

By: Martin Creamer Three hundred people a year are doing courses in mechanised mining offered by the University of the Witwatersrand Centre for Mechanised Mining Systems (CMMS). CMMS director Dr Declan Vogt, who was interviewed by Mining Weekly Online at the university, sees one of the centre’s main roles as... 

300 a year doing mechanised mining courses at Wits centre
Photo by Duane Daws
CMMS director Declan Vogt

Trans Hex takes over Namaqua diamond mines from De Beers

By: Martin Creamer The long-awaited acquisition by Trans Hex of the Namaqualand diamond mines from De Beers has become effective. The JSE-listed Trans Hex expects to receive cash flows of R653-million over the life of Namaqualand Mines, which have a resource of between 1.6-million carats and 1.9-million carats that... 

Trans Hex takes over Namaqua diamond mines from De Beers
Photo by Duane Daws
Trans Hex CEO Llewellyn Delport

China to face 10mt to 15mt bauxite gap from 2016 - Alumina

By: Reuters China could face a 10-million to 15-million tonne shortfall in bauxite supply as stockpiles run down from the second half of 2015, following an Indonesian ban this year on exports, said Andrew Wood, an executive with Melbourne-based Alumina Inc. The shortfall could curb China's alumina... 

Centennial’s 30-year old Angus mine a casualty of coal’s decline

By: Esmarie Swanepoel Unlisted coal miner Centennial Coal this week reported that it would place its Angus Place mine, in New South Wales, on care and maintenance during November this year. The miner said that the decision to close Angus Place was taken in response to the prolonged downturn in the international coal... 

Centennial’s 30-year old Angus mine a casualty of coal’s decline

Evolution’s output falls, but cost focus pays off

By: Esmarie Swanepoel Gold-mining company Evolution Mining has reported lower C1 cash cost and lower gold production in the September quarter. Evolution produced 107 165 oz of gold, compared with 111 899 oz delivered in the June quarter. Cash costs for the quarter declined from the A$747/oz reported in the previous... 

Renaissance studies 93 000 oz/y Cambodia mine

By: Esmarie Swanepoel A scoping study into ASX-listed Renaissance Minerals’ Okvau gold project, in Cambodia, has estimated that the project could deliver some 93 000 oz/y over an eight-year mine life. Based on a mineral resource of 11-million tonnes grading 2.3 g/t gold, the scoping study assessed the possibility of... 

QCLNG on track to deliver first LNG in December

By: Esmarie Swanepoel Liquefied natural gas (LNG) major BG Group reported this week that the Queensland Curtis LNG (QCLNG) project was on track for shipment in December. “The QCLNG project is on target to export its first LNG cargo by the end of the year, which will add volumes and flexibility to the company’s global... 

Independence keeps apace in Sept quarter

By: Esmarie Swanepoel Diversified miner Independence Group has reported a solid quarter for the three months to September, with its operations across Australia delivering on expectations. At the Tropicana gold joint venture, in Western Australia, a total of 1.5-million tonnes of ore, at an average grade of 2.82 g/t... 

Northern Iron moves to battle lower prices

By: Esmarie Swanepoel Record quarterly concentrate sales have assisted ASX-listed Northern Iron in offsetting the declining iron-ore price. Concentrate production during the quarter reached 600 000 t, down from the 626 000 t produced in the previous three months. However, mine production reached 4.4-million tonnes,... 

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