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De Beers plans to keep South African diamond exploration spend at R30m a year

By: Martin Creamer     Updated 48 minutes ago Diamond company De Beers plans to maintain its diamond exploration spend in South Africa at R30-million to R35-million a year. De Beers Consolidation Mines (DBCM) CEO Phillip Barton, who spoke to Mining Weekly Online in a video interview (see attached) on the sidelines of the Diamond Route... 

Iron-ore flood leaves little wriggle room for minnow Atlas

By: Reuters     Updated 4 hours ago A flood of low-cost iron ore is driving tiny Australian miner Atlas Iron to its break-even point, underscoring the pain inflicted by a ramp-up in output by mega-producers Rio Tinto and BHP Billiton. Atlas, which raced into production half a decade ago when iron ore prices were booming on the... 

WA enviro approval clears rare earths project for development

By: Esmarie Swanepoel     Updated 5 hours ago he Western Australian government has given environmental approval for ASX-listed Northern Minerals to develop its Browns Range heavy rare earths project. The environmental clearance marked the completion of the Browns Range project’s primary environmental assessment process. 

Newcrest to wrap up Wafi-Golpu study by year-end

By: Esmarie Swanepoel     Updated 5 hours ago Gold major Newcrest is hoping to complete an updated prefeasibility study (PFS) on its Wafi-Golpu joint venture, in Papua New Guinea, by the end of 2014, the Australian company reported on Tuesday. The project, which is being developed with South Africa’s Harmony Gold and comprises the Golpu and... 

Balamara consolidates Mariola ownership in A$13m deal

By: Esmarie Swanepoel     Updated 5 hours ago ASX-listed junior Balamara Resources on Tuesday announced a A$13-million all-scrip deal to consolidate the ownership of the Mariola thermal coal project, in Poland. Under the terms of the transaction, Balamara would issue 200-million of its own shares, or similar, to acquire the remaining 85% of... 

Australian horse breeders halt Anglo American coal expansion plans

By: Esmarie Swanepoel     Updated 5 hours ago The New South Wales Planning Assessment Commission (PAC) has refused diversified major Anglo American’s application to develop the Drayton South mine, claiming it would negatively affect the Coolmore and Dudley horse breeding studs. The Drayton mine has been in operation since 1983 and produces... 

Australian horse breeders halt Anglo American coal expansion plans

Havilah gets go-ahead for Portia development

By: Esmarie Swanepoel     Updated 5 hours ago Junior Havilah Resources has been granted approval by the South Australian government to start mining at its Portia gold project. ASX-listed Havilah told shareholders on Tuesday that the Department of State Development had approved the programme for environmental protection and rehabilitation... 

Andy Well delivers strong quarter for Doray

By: Esmarie Swanepoel     Updated 5 hours ago Gold production from the Andy Well operation, in Western Australia, has remained steady during the three months to September, with the project operating to expectations, owner Doray Minerals reported on Tuesday. During the first quarter under review, gold production at Andy Well reached 18 265... 

Maintenance issues hinder St Barbara output

By: Esmarie Swanepoel     Updated 6 hours ago A planned two-week maintenance period at the Leonora operation, in Western Australia, has resulted in ASX-listed St Barbara reporting a significant decline in gold production during the September quarter. During the three months under review, group gold production reached 68 823 oz, compared... 

Flinders adds to Pilbara resource

By: Esmarie Swanepoel     Updated 6 hours ago Iron-ore hopeful Flinders Mine has increased the resource at its flagship Pilbara iron-ore project, after nearly doubling the resource at the Blackjack deposit. Based on a recent drilling campaign at Blackjack, the deposit was now estimated to host some 86.2-million tonnes of resource, grading... 

Tiger ups production as SX-EW plant hits nameplate

By: Esmarie Swanepoel     Updated 6 hours ago Copper cathode producer Tiger Resources has reported a significant surge in production after its solvent extraction electrowinning (SX-EW) plant, at its Kipoi project in the Democratic Republic of Congo, reached nameplate capacity. First copper cathode was produced in May this year, and the... 

Monument Mining obtains Malaysia federal stay order pending hearing

By: Henry Lazenby Malaysia-focused gold producer Monument Mining has obtained a stay from the Federal Court against the Court of Appeal's order forcing it to deposit $9.4-million into a joint account maintained by legal counsels of the respective parties to a lawsuit regarding a claimed interest in the Selinsing... 

Peabody beats Street Q3 forecast as Australian cost savings lift results

By: Henry Lazenby US coal producer Peabody Energy’s NYSE-listed stock was on Monday trending lower despite the company reporting a much narrower loss than what Wall Street analysts were expecting, mainly owing to lower costs at its Australian operations. For the three months ended September 30, the St Louis,... 

Peabody beats Street Q3 forecast as Australian cost savings lift results

Norilsk sheds African assets in $337m deal

By: Natasha Odendaal Norilsk Nickel is set to sell its African assets to Botswana-based mining company BCL for $337-million, as the Russian miner’s newly adopted strategy to shed all international assets moves forward. The parties on Monday announced the conclusion of definitive transaction agreements that would see... 

Norilsk sheds African assets in $337m deal

China's CITIC wins trial date against Australian billionaire

By: Reuters An Australian court on Monday rejected billionaire politician Clive Palmer's attempt to stop a case brought against him by China's CITIC Ltd, and cleared the way for a trial in November. Palmer wanted the court to throw out CITIC's lawsuit, which alleges he used A$12-million ($10.5-million) that... 

Australia urged to remove gas supply barriers as prices are set to rise

By: Esmarie Swanepoel The Australian Petroleum Production & Exploration Association (Appea) on Monday welcomed recommendations that the Australian government should remove inappropriate barriers to gas production and should minimise the regulatory burdens on the gas producers. Appea was responding to a report from... 

Paladin’s Langer Heinrich output below forecast

By: Esmarie Swanepoel September quarter production from the Langer Heinrich mine, in Namibia, was significantly lower than expected, as unforeseen issues with process circuit scaling exacerbated production losses from planned maintenance, ASX- and TSX-listed Paladin Energy reported. The uranium miner had previously... 

Talisman to pay $10m for Glencore’s idled Sinclair nickel mine

By: Esmarie Swanepoel Minerals explorer Talisman Mining has signed an agreement with major Glencore’s Xstrata Nickel Australasia Operations to acquire the Sinclair nickel mine, in Western Australia, for a deal valued at A$10-million. Under the terms of the agreement, Talisman would make a cash payment of A$8-million... 

Miners need sustainable solutions to productivity problem – EY

By: Esmarie Swanepoel A report by advisory firm Ernst & Young (EY) has indicated that cost cutting would only lead to short-term productivity gains for mining companies with complex operations and that sustainable long-term solutions were needed. In its new report, ‘Productivity in mining: now comes the hard part’,... 

Miners need sustainable solutions to productivity problem – EY

Minotaur sells gypsum project in A$4.8m deal

By: Esmarie Swanepoel ASX-listed Minotaur Exploration on Monday announced the sale of Lake Purdilla gypsum deposit, in South Australia, for A$4.8-million. The explorer told shareholders that the conditional sale and purchase deed for the project, which consists of two exploration licenses, was an important step... 

Rain falls on the Syama parade

By: Esmarie Swanepoel Heavy rains at the Syama operation, in Mali, has impacted on gold miner Resolute Mining’s output during the three months to September. Gold production during the three months under review declined to 67 078 oz, compared with the 81 877 oz delivered in the June quarter, while cash costs for the... 

Atrum improves Groundhog North project economics

By: Esmarie Swanepoel Coal developer Atrum Coal has reduced the expected capital cost and increased the mine life of its proposed Groundhog North project, in Canada, after doubling the resource estimate earlier this month. ASX-listed Atrum on Monday reported that a supplementary prefeasibility study (PFS) into the... 

Troy advances Karouni gold project

By: Esmarie Swanepoel Dual-listed gold miner Troy Resources has moved a step closer to production at its Karouni gold project, in Guyana, after signing a minerals agreement with the state government. The minerals agreement detailed the fiscal, property, import/export procedures, taxation and other conditions for the... 

Hillgrove reports solid quarter

By: Esmarie Swanepoel Copper miner Hillgrove Resources has reported solid production in the third quarter, despite it being only a two-month quarter as the company aligned its financial year to the calendar year. For the two months ended September, Hillgrove’s Kanmantoo copper mine, in South Australia, delivered 4... 

China metals demand seen up in 2015, copper at least 6%

By: Reuters China's consumption of refined copper is expected to rise at least 6% in 2015, roughly in line with this year, supported by new investment in power networks and demand from rail projects, analysts and industry executives said. An expected slowdown in new residential and commercial building... 

Riddle of inventory levels keeps platinum investors shy

By: Reuters Investors are unlikely to rush back into platinum any time soon after a minimal price reaction to its biggest-ever supply shock highlighted a major problem: no-one knows how much metal exists above ground or more importantly who holds it. Analysts predicted a surging market as a record five-month... 

Pacific protesters in canoes, kayaks target Australian coal port

By: Reuters Hundreds of protesters on Friday joined environmental activists from a dozen South Pacific countries attempting to halt shipping at the world's largest coal export terminal in eastern Australia by forming a blockade with canoes, surfboards and kayaks. The action at the entrance to the Port of... 

Vale to divest 20% of Indonesian unit within five years – CEO

By: Reuters Nickel miner Vale Indonesia will divest a further 20% stake of the company to Indonesian parties within five years, the firm's chief executive said on Friday, after signing an amended mining contract with the government of Indonesia. Vale has already divested a 20% stake via its public listing... 

India concerned over Mozambique uncertainties, but readying for talks with new govt

By: Ajoy K Das India is keeping close tabs on the elections in Mozambique and is ready to initiate fresh talks with the new government to further already-committed investments by Coal India Limited (CIL) and ONGC Limited in the African nation. Irrespective of the outcome of Mozambique’s fiercely contested... 

India concerned over Mozambique uncertainties, but readying for talks with new govt

CAER refuses to rewrite Sandfire profile

By: Esmarie Swanepoel The Centre for Australian Ethical Research (CAER) on Friday rejected claims that it would rewrite its profile of copper miner Sandfire Resource, which resulted in the Australian National University (ANU) dumping its stock earlier this month. Following a review by CAER, the ANU took the decision... 

TAI report critical of coal’s contribution to Qld economy  

By: Esmarie Swanepoel A new report by Canberra think tank The Australia Institute (TAI) has suggested that the Queensland coal industry is a less-than-impressive contributor to the state’s economy. In its analysis of the coal industry, TAI noted that the industry was one of the smallest employers in the state,... 

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