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Iron-ore futures fall below $40/t as new Australian supply arises

By: Martin Creamer The iron-ore price on Singapore's most active iron-ore futures market was below $40/t for the first time, Investec noted on Monday, when it reported that additional iron-ore supply was about to be shipped from Gina Rinehart’s new Roy Hill iron-ore mine, in Australia. Quoting Bloomberg, Investec... 

Mineralogy's $10bn bid stumbles

By: Esmarie Swanepoel A Western Australian Supreme Court Judge has ruled that mining personality Clive Palmer’s Mineralogy’s legal proceedings against Chinese government-owned Citic is an "abuse of process" and "unjustifiably oppressive and vexations". Judge John Chaney last week permanently stayed two legal actions... 

BHP says Brazil plans $5bn legal suit over Samarco disaster

By: Esmarie Swanepoel Mining giant BHP Billiton said on Monday that it had not yet received any formal notice of legal action from Brazil, after the country’s federal and certain state governments announced on Friday that a $5.2-billion legal claim would be instituted against the company, its joint venture (JV)... 

WA to be well supplied with gas for next decade – report

By: Esmarie Swanepoel The latest gas statement of opportunities (GSOO) released by Western Australia’s Independent Market Operator (IMO) has forecast that the state’s gas production would continue to exceed demand between 2016 and 2025, with potential gas supply at least 107 TJ a day greater than current demand, and... 

Australia mining investment to fall 60%, major job losses forecast

By: Esmarie Swanepoel Mining investment in Australia was expected to decline by nearly 60% over the next three years, compared with the 2014/15 levels, while job losses in the sector would take the same trend, economic forecaster and industry analyst BIS Shrapnel reported on Monday. “We haven’t hit bottom yet on... 

New NT land access process seeks to strike balance between explorers, pastoralists

By: Esmarie Swanepoel The Northern Territory government on Monday announced a new process for land access agreements between the mining, petroleum and agriculture industries. The new process included the establishment of a land access agreements for exploration activities considered to create more disturbance, and... 

New NT land access process seeks to strike balance between explorers, pastoralists

Colluli's economics confirmed - Danakali

By: Esmarie Swanepoel A definitive feasibility study (DFS) into the Colluli potash project, in Eritrea, has reduced the expected capital expenditure to bring the project into production by about 30%, owner Danakali reported on Monday. A March prefeasibility study into the project had estimated that the Stage 1... 

Newcrest spends big on Nicaragua farm-in

By: Esmarie Swanepoel Australian gold miner Newcrest Mining has signed a farm-in agreement with junior Oro Verde over the Topacio gold project, in Nicaragua. Newcrest reported on Monday that it would sole fund an initial $500 000 in direct expenditure within the first 12 months of the farm-in period to test the... 

Endeavour completes La Mancha buy

By: Esmarie Swanepoel Dual-listed gold miner Endeavour Mining has completed the acquisition of gold investment company La Mancha Holdings’ assets. Endeavour’s shareholders in early November approved a partnership with La Mancha, would see the gold miner acquire La Mancha’s indirect 55% interest in Société des Mines... 

Berkeley to optimise Spanish uranium project

By: Esmarie Swanepoel ASX-listed junior Berkeley Energia has launched optimisation studies at its Salamanca uranium project, in Spain, in order to reduce operating costs. The recent inclusion of the high-grade Zona 7 deposit into the Salamanca prefeasibility study had transformed the economics of the project,... 

Mincor announces management succession

By: Esmarie Swanepoel Nickel miner Mincor Resources has announced the succession of its MD David Moore, who will switch to a non-executive role after 16 years at the helm of the company. Moore will move to the position of deputy chairperson from March 1. However, he will remain actively involved in the company, but... 

Falling Aussie dollar saves gold sector

he declining value of the Australian dollar has been hailed as the saviour of the country’s gold sector, with mining consultancy Surbiton Associates saying that the gold sector remained in good shape, despite the negative market sentiment associated with the current US dollar gold price, which... 

Brazil to sue BHP, Vale for $5bn in damages for dam burst

By: Reuters Brazil's federal and state governments plan to sue the owners of the Samarco iron ore miner for 20-billion reais ($5.24-billion)in damages caused by the burst of a tailings dam, Environment Minister Izabella Teixeira told reporters on Friday. Samarco is a joint venture between BHP Billiton and... 

Gold dips to near 6-year low, set for sixth straight weekly drop

By: Reuters Gold dipped to its lowest level in nearly six years on Friday and was heading for a sixth straight weekly decline under pressure from a firm dollar and prospects of a US interest rate rise next month. Spot gold hit $1 055.99 /oz, its lowest since February 2010, and was down 1.5% at $1 057.27 by... 

Gold dips to near 6-year low, set for sixth straight weekly drop

Nickel's hiatus may be brief without output cuts, stronger demand

By: Reuters Nickel's spectacular fall since the middle of last year may have come to a halt, but without significant, enduring output cuts and stronger demand from China's stainless steel mills the reprieve could be brief. Benchmark nickel on the London Metal Exchange fell to $8 145 /t earlier this week,... 

Rio Tinto exec sees less of a push towards diversification

By: Esmarie Swanepoel Diversified major Rio Tinto copper and coal CEO Jean-Sébastien Jacques said this week that diversification of mining companies’ portfolios was no longer seen as a hedge against bad times. Speaking in Sydney, he predicted that there would be a shift towards a multi-specialist model, as mining... 

Glencore agrees to fund Aurelia as legal dispute is settled

By: Esmarie Swanepoel Gold developer Aurelia Metals has signed an agreement with diversified miner Glencore, settling their legal disputes. The major has also agreed to provide an additional A$21.5-million in funding to Aurelia. Since June, Aurelia and Glencore have been caught in a dispute over the repayment of... 

Anglo to close NSW mine as horse studs trump coal mining

By: Esmarie Swanepoel Mining major Anglo American said on Friday that it would wind down its Drayton South coal operation, in New South Wales, in 2016, resulting in the loss of some 500 jobs, after the Planning Assessment Commission (PAC) blocked the mine expansion. The PAC this week said that the proposed Drayton... 

Rio Tinto pumps $1.9bn into Queensland bauxite project

By: Esmarie Swanepoel Mining giant Rio Tinto on Friday announced a $1.9-billion investment into its Amrun bauxite project, in Queensland’s Cape York. The miner reported that the project would involve the construction of a bauxite mine and associated processing and port facilities on the Cape York peninsula in north... 

Rio Tinto pumps $1.9bn into Queensland bauxite project

Sheffield raises cash for Thunderbird studies

By: Esmarie Swanepoel Mineral sands developer Sheffield Resources is aiming to raise up to A$5-million through a share placement and a further A$2-million through a share purchase plan (SPP) to fund a bankable feasibility study (BFS) for its Thunderbird project, in Western Australia. Sheffield told shareholders on... 

Resgen gets new management team

By: Esmarie Swanepoel A new chairperson, deputy chairperson, interim CEO and company secretary have been appointed to dual-listed Resource Generation (Resgen) following a successful board spill earlier this week. Shareholders Noble Group, Altius Investment Holdings and the Public Investment Corporation on Thursday... 

Merlin raises funds in hopes of restarting diamond mine

By: Esmarie Swanepoel ASX-listed Merlin Diamonds on Friday told shareholders that it was hoping to raise some A$10-million through the issue of unlisted debt notes to wholesale investors. The company would seek to raise a minimum of A$7-million under the note offer from institutional and wholesale investors, with a... 

New Australia PM begs to differ with those calling for coal mine ban, citing economic and job implications

By: Esmarie Swanepoel Australia’s newest Prime Minister, Malcolm Turnbull, has taken a practical stance on Australia’s coal future, despite mounting turmoil in the sector as new mines face severe environmental resistance and producers are cutting output in an effort to fight rising costs and decreased prices. In... 

New Australia PM begs to differ with those calling for coal mine ban, citing economic and job implications

Mozambique has low tax intake from mining, high-quality graphite deposit unveiled

By: Keith Campbell Although the Mozambican government has given fiscal incentives to multinational mining and hydrocarbons to encourage foreign investment in the country, its Prime Minister, Carlos Agostinho do Rosário, has recently expressed concern about the minor contribution the natural resources sector makes... 

New Australia PM begs to differ with those calling for coal mine ban, citing economic and job implications

By: Esmarie Swanepoel Australias newest Prime Minister Malcolm Turnbull has taken a practical stance on Australias coal future, despite mounting turmoil in the sector as new mines face severe environmental resistance and producers are cutting output in an effort to fight rising costs and decreased prices.   

New Australia PM begs to differ with those calling for coal mine ban, citing economic and job implications

Macarthur shareholders approve sale of Aus subsidiary

By: Natasha Odendaal TSX-V-listed Macarthur Minerals on Thursday said its shareholders had backed plans to shed subsidiary Macarthur Iron Ore. Last month, the owner of the Western Australian iron-ore projects entered into a share sale agreement with GIM Australia in a deal valued at A$6-million. 

Coal of Africa shares rocket on $91m offer for Universal

By: Martin Creamer The share price of Coal of Africa (CoAL) shot up 14.81% in Johannesburg on CoAL’s takeover offer of $91-million for Universal Coal, which is also being pursued by IchorCoal. The deal is to be funded $36.8-million through loan notes, $25.7-million from internal cash resources, $18-million through... 

Coal of Africa shares rocket on $91m offer for Universal
Coal deal described as accretive.

Rio Tinto set to decide on expansion of Mongolia copper mine

By: Reuters Rio Tinto is lining up project financing for a $4-billion expansion of its long-delayed Oyu Tolgoi copper mine in Mongolia and will make a final investment decision early next year, a senior executive said on Thursday. The mine, which started producing from an open pit over two years ago, is the... 

Rio Tinto set to decide on expansion of Mongolia copper mine

ASX, Perth Mint to launch precious metals derivatives next year

By: Reuters The Perth Mint will work with the ASX to develop precious metals derivatives that will be traded on the Australian exchange, the companies said on Thursday. ASX will provide the platform and clearing services for the contracts, while the Perth Mint - operator of one of the biggest refineries... 

CoAL launches A$126.4m competing bid for Universal Coal

By: Esmarie Swanepoel South Africa-focused coal miner Universal Coal on Thursday revealed that Coal of Africa (CoAL) is the suitor offering a competing bid to that of IchorCoal. CoAL has formally launched its takeover offer, which values Universal at about A$126.4-million. 

CoAL launches A$126.4m competing bid for Universal Coal
Photo by Duane Daws
CoAL CEO David Brown

Coal and gas to remain part of Australia’s energy mix – report

By: Esmarie Swanepoel An independent report into Australia’s electricity future has assured that both coal and natural gas would maintain a foothold in the country’s energy generation mix. The Australian Power Generation Technology Report released on Thursday measured a broad range of technologies, their... 

Australia set for uranium exports to India, UAE

By: Esmarie Swanepoel The Australian government has finalised two agreements to expand its global uranium exports with India and the United Arab Emirates (UAE), which are investing in nuclear programmes. The Australia-India nuclear cooperation agreement would permit Australian companies to start commercial uranium... 

Australia set for uranium exports to India, UAE

Elemental eyes quicker start at Congo mine

By: Esmarie Swanepoel Potash hopeful Elemental Minerals is contemplating the accelerated construction of its Kola sylvenite project, in the Republic of Congo, after receiving an investment proposal from Summit Private Equity. Summit is looking to invest at least $40-million into ASX-listed Elemental, taking up shares... 

Evolution won't up bid for Phoenix

By: Esmarie Swanepoel Gold miner Evolution Mining has warned the remaining shareholders in takeover target Phoenix Gold that it would not increase its offer for the ASX-listed company. Earlier this month, the directors of Phoenix Gold advised shareholders to accept the revised takeover offer from Evolution Mining,... 

Fortescue pushes back at debt

By: Esmarie Swanepoel Iron-ore major Fortescue Metals this week completed a $750-million debt tender for 2019 and 2022 notes. The company told shareholders that the purchase of the notes, which would settle at the end of November, had resulted in Fortescue recognizing a $124-million pre-tax gain and a saving of some... 

MMG to list on ASX by December

By: Esmarie Swanepoel Base metals miner MMG has been approved for a secondary listing on the ASX, to compliment its current listing on the Hong Kong Stock Exchange (HKEx). “Australia is an attractive market for the mining and metals sector with dedicated research coverage and strong understanding of the sector by the... 

Worker killed at Alcoa refinery

By: Esmarie Swanepoel Aluminium major Alcoa has suspended all nonessential work activities at its Kwinana refinery, in Western Australia, following the death of a contract worker. The worker was killed on Wednesday following a fall at the refinery. 

Deflector mining to start in Feb

By: Esmarie Swanepoel Openpit mining at the Deflector gold project, in Western Australia, was slated to start in February next year, with underground mining to follow in May. Gold miner Doray Minerals said on Wednesday that the commissioning of a new purpose-built processing plant would also follow in May or June... 

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