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Turbines boosting mine power – AngloGold

By: Martin Creamer Gold major AngloGold Ashanti is installing turbines in underground mines to boost energy regeneration, as part of a strategy of recovering electricity without spending significant amounts of capital. “What we’ve done is put in energy regeneration and capture plants in the form of turbines at two... 

Metallum raises cash to fund Chile operations

unior copper developer Metallum on Monday announced a A$560 000 capital raising to fund its activities in Chile. The company reported that it had received firm commitments to subscribe for 56-million ordinary shares at A$0.01 a share.  

Guildford mulls Singapore listing, to relocate corporate office

By: Mariaan Webb Mongolia-focused Guildford Coal is considering a potential listing on the Singapore stock exchange and plans to relocate its corporate office to the South East Asian island country. The ASX-listed company announced the potential listing and relocation decision on Monday, when it detailed the... 

Bundu expects shale gas exploration right decision this year

By: Mariaan Webb Unconventional gas explorer Challenger Energy expects to hear by the third or second quarter of this year whether its subsidiary, Bundu Gas and Oil Exploration, will be allowed to explore for shale gas in South Africa’s Karoo basin. The ASX-listed company confirmed on Monday that Bundu had lodged... 

 Bundu expects shale gas exploration right decision this year

Chinese partner may help finance, develop Magnis’ Tanzania project

By: Mariaan Webb Australian junior Magnis Resources on Monday announced the signing of a memorandum of understanding (MoU) with China-based Sinoma for the financing, design and construction of the Nachu graphite project, in Tanzania. The ASX-listed company said in a statement on Monday that the MoU was... 

Thailand lifts Chatree suspension order – Kingsgate

By: Mariaan Webb Australian junior Kingsgate Consolidated has resumed mining activities at its Chatree gold operation in Thailand, after authorities on Friday lifted a temporary suspension order. The shutdown was ordered in January after random urine and blood tests of villagers nearby the mine revealed... 

Kangala delivers sales record in February

By: Creamer Media Reporter South Africa-focused Universal Coal’s Kangala colliery, in Mpumalanga, achieved record sales of 172 000 t for February – 28 000 t above target. Power utility Eskom took delivery of 160 000 t and 12 000 t was exported through the Richards Bay Coal Terminal. 

Sheffield may export Thunderbird product from Derby wharf

By: Mariaan Webb Mineral sands developer Sheffield Resources has been granted preferred proponent status for a bulk commodity handling area at the Derby wharf, in Western Australia, which is seen as an important step towards securing export capacity for the company’s Thunderbird project. MD Bruce McQuitty said... 

Northern Minerals resets Browns Range production target to 2017

By: Mariaan Webb Rare earth project developer Northern Minerals has delayed the timetable for first production from its Browns Range project, in northern Western Australia, to the second half of 2017, from 2016. The ASX-listed company confirmed the new production target in the project’s definitive feasibility... 

Australia shares storm to fresh 7-year high as China rate cut spurs resources

By: Reuters Australian shares rose to a fresh seven-year high on Monday as a Chinese rate cut pushed up resources stocks while growing expectations of a domestic rate cut prompted investors to buy banks. On Saturday, China's central bank cut rates just as official data showed a second straight month of... 

Sirius agrees supply deal with BHP’s Nickel West

By: Mariaan Webb ASX-listed Sirius Resources has signed a three-year deal with BHP Billiton to sell about half of its planned nickel sulphide concentrate production from the Nova mine, in Western Australia, to the major’s Nickel West operation. The mine, which is currently under development, will produce about 26... 

 Sirius agrees supply deal with BHP’s Nickel West
BHP Billiton's Nickel West business unit (pictured here) will buy nickel concentrate from Sirius' new Nova mine, in Western Australia.

Endeavour reports wider Q4 loss on impairment charges

By: Henry Lazenby Canadian gold producer Endeavour Mining has reported a significantly wider net loss for the three months ended December, as notable impairment charges on its Tabakoto mine, in Mali, weighed on financials. The ASX- and TSX-listed company on Thursday reported a net loss attributable to shareholders... 

First tungsten from new Zimbabwe mine June – Premier

By: Martin Creamer The first major commercial production of tungsten from a new mine under construction in Zimbabwe is expected in June. The plant for the mine, which is being built in Johannesburg by Appropriate Process Technology, is due for shipment to Zimbabwe on May 11. The RHA project has so far absorbed an... 

First tungsten from new Zimbabwe mine June – Premier
Photo by Duane Daws
George Roach (right) with Martin Creamer

Africa remains on Chinese investment map, despite economic slowdown

By: Megan van Wyngaardt China’s investment in African resources remains at a relatively early stage and is likely to increase further over the next decade, despite the economic slowdown in the world’s second-largest economy, reports South African financier Standard Bank. China’s economy grew by 7.4% in 2014, the slowest... 

Africa remains on Chinese investment map, despite economic slowdown

Potash West gains 25% stake in technology firm, mulls separate listing

By: Esmarie Swanepoel The share price of ASX-listed Potash West fell slightly on Friday as the company raised the possibility of listing a venture that will pursue potash technologies. Potash West has obtained a 25% interest in a lithium technology licensing company, which holds the licence for a unique lithium... 

Newcrest downsizes Evolution shareholding

By: Esmarie Swanepoel Gold major Newcrest Mining has reduced its shareholding in fellow-listed Evolution Mining from 32.3% to 14.9% in an overnight sell-down of shares. The sale was priced at 85c a share, generating proceeds of some A$106-million, which Newcrest would use to repay debt. 

Troy's higher gold output results in more revenue

By: Esmarie Swanepoel ASX- and TSX-listed gold miner Troy Resources has reported a 22% increase in revenues for the half-year ended December, on the back of a higher gold output. The miner on Friday reported that gold equivalent production during the interim period reached 65 014 oz, compared with the 60 334 oz... 

Beadell signs off on tough year

By: Esmarie Swanepoel Gold miner Beadell Resources on Friday reported a $100-million drop in net profit after tax for the financial year ended December, with higher costs of production, a foreign exchange rate loss and tax liabilities negatively impacting on the company’s financial performance. Net profit after tax... 

Iron Road pushes CEIP resource to 4.5bt

By: Esmarie Swanepoel Junior developer Iron Road has increased the mineral resource estimate at its Central Eyre iron project, in South Australia, by 22%, to about 4.5-billion tonnes, grading 16% iron. The ASX-listed company noted that about 3.5-billion tonnes, or 77% of the mineral resource, was classified as... 

Glencore cuts Australian coal exports to match demand

By: Esmarie Swanepoel Johannesburg-, London- and Hong Kong-listed mining major Glencore on Friday announced that it would reduce its Australian coal exports by some 15-million tonnes in 2015, to align output with current customer demand. The decision to decrease coal exports from Australia followed the miner’s move in... 

Rio Tinto simplifies business to further lower costs

By: Esmarie Swanepoel Diversified giant Rio Tinto on Friday announced that it would streamline its business, condensing its assets into four product groups namely; aluminium, copper and coal, diamonds and minerals, and iron-ore. The miner said that the new copper and coal product group would bring Rio’s coal... 

Rio Tinto simplifies business to further lower costs
Photo by Bloomberg
Rio Tinto CEO Sam Walsh

Australian iron-ore juniors hurting, some majors reviewing expenditure plans as prices slump

By: Esmarie Swanepoel The recent free fall in the iron-ore price to its lowest level in six years has struck a deathblow to a number of Australian juniors operating in the sector, while the majors have been forced to cut back costs. Commodity analyst Wood Mackenzie (WoodMac) blamed the lagging commodity price on a... 

Australian iron-ore juniors hurting, some majors reviewing expenditure plans as prices slump

Aus explorer exercises option to acquire two US projects

By: Henry Lazenby Australian explorer Carnavale Resources has exercised an option to acquire private firm Tojo Minerals, which has the rights to the Red Hills project, in Nevada, and the Little Butte project, in Arizona. Perth, Australia-based Carnavale said in a statement that it would move to immediately ramp-up... 

M&R accelerates Clough’s globalisation as Australian LNG workflow tapers

By: Terence Creamer Engineering and construction group Murray & Roberts (M&R) has signalled its intention to accelerate the internationalisation of its Australia-based oil and gas unit, Clough – a strategy underpinned by a dramatic tapering off of greenfield liquefied natural gas (LNG) megaprojects in Australia and... 

M&R accelerates Clough’s globalisation as Australian LNG workflow tapers
Clough CEO Kevin Gallagher

Implats moves to power platinum refinery with platinum fuel cells

By: Martin Creamer Platinum major Impala Platinum (Implats) is studying the feasibility of taking its entire platinum refinery off the national electricity grid and powering it with platinum fuel cells. The refinery already has a supply of available hydrogen to fuel the cells and would need some 20 MW of fuel-cell... 

Implats moves to power platinum refinery with platinum fuel cells
Photo by Creamer Media
Terence Goodlace and Martin Creamer

Resgen reveals possible financiers for Boikarabelo construction

By: Megan van Wyngaardt South Africa-focused coal miner Resource Generation (Resgen) on Thursday revealed that it was in negotiations with FirstRand Bank, acting through its Rand Merchant Bank division, HSBC Bank - Johannesburg Branch, the Industrial Development Corporation, Noble Resources International and Export... 

Ausdrill sees silver lining in Australian gold as iron-ore drops

By: Reuters Mine services group Ausdrill Ltd on Thursday said it was counting on a resurgence in Australian gold mining to offset weakness in its iron ore business after it posted a A$177-million ($139.12-million) first-half loss on the back of A$197-million of impairments. Higher output and cheap oil... 

PanTerra to earn into British Columbia gold project

By: Esmarie Swanepoel Gold miner PanTerra Gold has inked a predevelopment and earn-in agreement with Vancouver-based Canarc Resource Corporation, which was expected to lead to the development of the New Polaris gold mine, in British Columbia. PanTerra reported on Thursday that the company would progressively spend... 

PanTerra to earn into British Columbia gold project

Northern Star unveils competing bid for Central Tamani

By: Esmarie Swanepoel Australian gold miner Northern Star Resources this week launched a competing bid to gain a majority interest in the Central Tanami gold project, in the Northern Territory. ASX-listed Tanami Gold on Thursday announced that Northern Star had submitted an unsolicited alternative proposal to a JV... 

Sandfire profit dips on lower copper prices

By: Esmarie Swanepoel Copper/gold miner Sandfire Resources’ after-tax profit declined by 9% to A$30.6-million in the six months to the end of December, on the back of lower prevailing copper prices. The interim profit compared with A$33.5-million reported in the previous corresponding period, despite sales revenue... 

Resolute signs up for Taruga project

By: Esmarie Swanepoel Gold miner Resolute Mining has agreed to a joint venture (JV) with junior Taruga Gold over three concessions in Côte d’Ivoire. Under the terms of the agreement, Resolute would earn a 75% interest in the three tenements by spending some $3-million in exploration over a four-year period. 

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