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Engineers Without Borders working towards establishing local procurement reporting standard

By: Henry Lazenby     Updated 2 hours 42 minutes ago The Mining Shared Value initiative of Engineers Without Borders Canada (EWB) has partnered with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to work with international mining companies in establishing a measurement and reporting standard for local procurement by the... 

Global interest in nuclear development on the rise, hears Mining Indaba

By: Kim Cloete Amid declining nuclear costs, more nuclear power stations are being constructed now than in any other time in history, according to Australian energy major Peninsula Energy Limited (PEN) CEO Gus Simpson. Addressing delegates at the 2016 Investing in African Mining Indaba, Simpson conceded that... 

Global interest in nuclear development on the rise, hears Mining Indaba

As pressure on BHP and Glencore grows, Australia cuts may signal nickel revival

By: Reuters Australian nickel miners are under increasing pressure to suspend or cut production, with investors eyeing key announcements in coming weeks after rival producers in New Caledonia won a pledge of support from France. Benchmark prices of the steel-making material have fallen more than 45 percent... 

Oz Minerals’ 2015 profit surges on record output

By: Esmarie Swanepoel Copper/gold miner Oz Minerals reported a 168% increase in its after-tax net profit for the year ended December 31, on the back of record copper production of 130 305 t. After-tax net profit surged to A$130.2-million during the 2015 financial year, compared with A$30.3-million reported in the... 

Mincor widens loss to nearly A$35m

By: Esmarie Swanepoel The decision to mothball its Western Australian mines amid a nickel price slump has resulted in Mincor Resources widening its half-year loss from A$1.89-million in the first half of 2015 to A$34.69-million in the six months to December. Mincor on Wednesday reported asset impairments of about... 

Energy to define future Australia-India relations

By: Esmarie Swanepoel India was seeking an increased engagement with Australia on uranium and gas exports to fuel its demand for electricity generation, India’s Minister of State with Independent Charge of Power, Coal, and Renewable Energy, Piyush Goyal, said on Wednesday. Speaking ahead of the third Australia-India... 

Energy to define future Australia-India relations

Montepuez proves up for Metals of Africa

By: Esmarie Swanepoel A concept study into ASX-listed Metals of Africa’s Motequez graphite project, in Mozambique, has estimated that the project could deliver up to 100 000 t/y of graphite concentrate, for a capital investment of $166-million. Based on a processing rate of 1.2-million tonnes a year, the project is... 

Tinkler steps aside as APC boss

By: Esmarie Swanepoel Mining personality Nathan Tinkler has resigned as MD and CEO of ASX-listed Australian Pacific Coal (APC) after he was declared bankrupt by the Federal Court. The Federal Court judgment related to a dispute over money owed from the 2013 sale of a luxury jet, with court documents indicating that... 

Ardiden to invest in second lithium project

By: Esmarie Swanepoel ASX-listed Ardiden has entered into an option agreement for a second Canadian lithium project. The company announced on Wednesday that it had signed an option agreement to acquire the Root Lake lithium project, in Ontario, to complement its recent option over the Seymour Lake... 

Danakali eyes new product stream at Colluli

By: Esmarie Swanepoel Potash developer Danakali would initiate a scoping study into potential sulphate of potash magnesia (SOP-M) production from its Colluli project, in Eritrea. The company said on Wednesday that it had produced high purity, chloride free SOP-M from the Colluli potash project using salts from the... 

Newcrest makes contact with trapped miner

By: Esmarie Swanepoel Contact has been established with the miner trapped underground at the Gosowong operation, in Indonesia, gold miner Newcrest Mining reported on Wednesday. Newcrest MD and CEO Sandeep Biswas said that contact with the miner was established through a small diameter hole drilled through 54 m of... 

Unity revenue declines as takeover close draws near

By: Esmarie Swanepoel Takeover target Unity Mining has reported a 42% decline in revenue for the six month ending December, compared with the previous corresponding period, as mining ceased at the Henty mine, in Tasmania. Unity also reported a net loss after tax of A$9.6-million, which was on par with the net loss of... 

China has ‘very serious’ structural problem – Broadman

By: Martin Creamer A very serious structural problem is playing itself out in China and not merely a reorienting to a consumption-led economy, says Council on Global Enterprise and Emerging Markets director Dr Harry Broadman. Broadman, who delivered the second keynote address at the 2016 Investing in African Mining... 

China has ‘very serious’ structural problem – Broadman

Senior lenders back Glencore's loan refinancing

By: Reuters Global diversified natural resource company Glencore is expected to wrap up senior syndication of a one-year revolving credit that refinances existing debt by the end of next week after a strong market response, bankers said on Tuesday. Glencore is refinancing a $8.45-billion loan that supports... 

Miners owe it to host countries to invest in downturns – Randgold

By: Martin Creamer Mining companies owed it to their host countries and their shareholders to invest in the troughs so that they could reap the benefits in the peaks, Randgold Resources CEO Dr Mark Bristow said on Tuesday. Speaking during a panel discussion at the 2016 Investing in African Mining Indaba, Bristow... 

Miners owe it to host countries to invest in downturns – Randgold
Photo by Duane Daws
Randgold CEO Mark Bristow

Vedanta rephases capex at Gamsberg as part of cost-cutting measures

By: Kim Cloete In light of tumbling commodity prices, global diversified metals and mining company Vedanta Resources has had to restructure costs across all of its businesses, including South Africa-based Gamsberg zinc project .  Vedanta Resources CEO Tom Albanese told delegates at the Investing in African... 

Vedanta rephases capex at Gamsberg as part of cost-cutting measures
Vedanta Resources CEO Tom Albanese

Mining companies tread carefully when considering exploration

By: Kim Cloete Mining companies are becoming more circumspect when they decide which countries to invest in when it comes to exploration, a panel at the 2016 Investing in African Mining Indaba in Cape Town has heard. They are also faced with increasing attention from nongovernmental organisations (NGOs) and... 

Image seals deal to accelerate WA mineral sands project

By: Esmarie Swanepoel ASX-listed junior Image Resources has inked an agreement with Murray Zircon and its parent company Guandong Orient Zirconic to fast track the development of the Boonanarring mineral sands project, in Western Australia. The agreement covered a number of transactions, including Image acquiring a... 

Worker trapped underground at Newcrest’s Gosowong

By: Esmarie Swanepoel An employee is trapped about 300 m underground at gold miner Newcrest Mining’s Gosowong mine, in Indonesia, after a geotechnical event at the mine on Monday. The company said on Tuesday that at this time, the priority was to contact and rescue the trapped employee, and provide the support... 

Worker trapped underground at Newcrest’s Gosowong

Operations suspended at Baralaba pending Cockatoo restructure

By: Esmarie Swanepoel The Baralaba coal mine, in Queensland, has been placed on care and maintenance in order to preserve cash and the value of the asset, pending a restructure or sale of ASX-listed Cockatoo Coal. Cockatoo went into administration in November last year, after a A$81-million bank guarantee facility... 

WA approval rates a boon for the sector - Minister

By: Esmarie Swanepoel The Western Australian government has announced its best-ever quarter for mineral title approvals speeds, with Mines and Petroleum Minister Bill Marmion saying that thousands of Western Australian resource companies have benefited from the record approvals process times. "This is about backing... 

Ramelius forecasts surge in profits

By: Esmarie Swanepoel Gold miner Ramelius Resources on Tuesday flagged an expected half-year pretax profit of A$28.7-million for the interim period ended December 31. This compared with a pretax net profit of A$5.7-million for the previous corresponding period. 

Southern Gold completes Cambodian divestment

By: Esmarie Swanepoel ASX-listed Southern Gold has completed the divestment of its Cambodian subsidiary Southern Gold Asia, allowing the company to focus its efforts on its Cannon gold mine, in Western Australia. In June of last year, Southern Gold entered into a restructuring agreement with its unlisted joint... 

Aus govt invests in Chinese energy centre

By: Esmarie Swanepoel The federal government would invest A$260 000 to establish the International Energy Agency (IEA) China Centre. Foreign Affairs Minister Julie Bishop said on Tuesday that the funding would help create closer ties between China and the IEA. 

Millennium to be debt free by March

By: Esmarie Swanepoel Gold junior Millennium Minerals has worked to further reduce its debt, with the company aiming o be debt free by the end of March. The ASX-listed Millennium said on Tuesday that it had reduced its outstanding debt by another A$1.25-million in January this year, bringing its total debt to... 

Austral expands land-holding in Chile

By: Esmarie Swanepoel Junior gold developer Austral Gold has struck a deal with TSX-listed Revelo Resources to secure 12 500 ha of mining concessions in Chile, to expand its Amancaya project. The mining concessions currently form part of Revelo’s San Guillermo project, which comprises more than 24 000 ha of... 

Very positive long-term outlook for platinum – Hinkly

By: Martin Creamer The outlook for platinum demand in the next five years is very positive, Anglo American Platinum executive head marketing Andrew Hinkly said on Monday. Speaking at the 2016 Investing in African Mining Indaba, Hinkly said that the continued requirement for clean vehicle emissions would continue... 

Very positive long-term outlook for platinum – Hinkly
Amplats executive head of marketing Andrew Hinkly

Rio Tinto calls for collaboration in current mining climate

By: Kim Cloete Multinational diversified miner Rio Tinto  has called on the mining industry and African governments to work together to rise above the extremely tough times for commodities. “We have to be collaborative in solving today’s problems in a tough operating environment. We can wring our hands or work... 

Rio Tinto calls for collaboration in current mining climate

One-third of Queensland’s coal mines running at a loss – QRC

By: Esmarie Swanepoel Nearly one-third of Queensland’s coal mining companies were operating at a loss in the current commodity climate, a report commissioned by the Queensland Resources Council (QRC) has found. QRC CEO Michael Roche said that the report, undertaken by Wood Mackenzie, supported what industry leaders... 

Report confirms leading role of gas in Australia’s energy mix

By: Esmarie Swanepoel The Australian Pipeline and Gas Association (APGA) has welcomed the findings from a new report by the Department of Industry, Innovation and Science, which reveal that natural gas is the largest provider of stationary energy in Australia. In the ‘Energy In Australia 2015’ report, the Office of... 

Report confirms leading role of gas in Australia’s energy mix

LNG exports boost Australia’s trade balance

For the first time in more than five years, Australia’s liquefied natural gas (LNG) and petroleum exports nearly completely offset the costs of importing crude oil, petrol and other petroleum products. Energy analyst EnergyQuest revealed on Monday that Australia’s total trade deficit across all... 

Bear Head gets US export approval

By: Esmarie Swanepoel The US Department of Energy has authorized ASX-listed Liquefied Natural Gas (LNG) subsidiary Bear Head LNG Corporation to export LNG produced from the Bear Head project to countries that do not have free trade agreements (FTA) with the US. “Today’s decision is an extremely positive milestone for... 

Pepinnini abandons Spinifex Ridge exploration

By: Esmarie Swanepoel Explorer Pepinnini Minerals has withdrawn from its option agreement over the Spinifex Ridge project, in Western Australia. In 2014, the junior company purchased an option agreement from fellow listed Phosphate Australia over two tenements located in the West Musgrave province, spending A$100 000... 

Geopacific amends Kou Sa terms

By: Esmarie Swanepoel ASX-listed Geopacific Resources has amended the acquisition terms for the Kou Sa gold project, in Cambodia. In 2013, Geopacific and its joint venture partner The Royal Group signed a purchase agreement to acquire full ownership of the Kou Sa project from vendor Golden Resources Development. 

New Hope advances Bengalla buy

By: Esmarie Swanepoel ASX-listed New Hope is aiming to complete the acquisition of mining major Rio Tinto’s 40% interest in the Bengalla thermal coal mine, in New South Wales, by March. The junior said on Monday that it had cleared two material conditions to the purchase of the mine. These included the remaining... 

Gruyera proves up for Gold Road

By: Esmarie Swanepoel A prefeasibility study (PFS) into ASX-listed Gold Road Resources’ Gruyere project, in Western Australia, has proven that the project is financially viable. Based on a maiden ore reserve of 3.17-million tonnes, the PFS estimated that the project could deliver about 265 000 oz of gold over an... 

Doray starts openpit mining at Deflector

By: Esmarie Swanepoel Gold miner Doray Minerals has marked its sixth anniversary since listing on the ASX with the start of openpit mining at the Deflector project, in Western Australia. MD Allan Kelly said on Monday that the start of openpit mining represented a significant milestone in the rapid development of the... 

Mining Indaba, McKinsey plot way forward for African mining

By: Martin Creamer All African mining companies can and should take steps to improve productivity and reallocate capital, while about half have the capacity to merge with or acquire companies. On day one of the Investing in African Mining Indaba here, a jointly developed report from McKinsey’s basic materials... 

Mining Indaba, McKinsey plot way forward for African mining
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