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Commodity price indices rally as oil picks up where metals left off

By: Henry Lazenby     27th May 2016 Commodity price indices have rallied in recent weeks as strong performance by oil softened the lull in metals price movements. Scotiabank's commodity price index had improved by 4.5% month-over-month in April as energy gains more than offset metals weakness. 

Nautilus lifts Central Pacific underwater resource by 67%

By: Henry Lazenby     27th May 2016 Marine mining pioneer Nautilus Minerals has this week reported an upgraded and improved mineral resource at its Clarion-Clipperton Fracture Zone (CCZ) project in the Central Pacific, which it held through its 100%-owned subsidiary Tonga Offshore Mining (TOML). Toronto-based Nautilus advised... 

Construction of Paringa’s Buck Creek No 2 mine due to start in 2017

By: Samantha Herbst     27th May 2016 With the permitting process now under way for Buck Creek No 2 mine, located in the Western Kentucky region of the Illinois basin, owner Paringa Resources expects construction of the mine to begin by the second quarter of 2017, with production due to get under way by mid-2018. “We are very pleased... 

Bundarra gold project up for sale – Bligh

By: Mariaan Webb     27th May 2016 ASX-listed Bligh Resources and its joint venture (JV) partner Contained Gold have agreed to explore the possibility of selling the Bundarra JV project, in Western Australia, to an unrelated third party. The companies entered into a JV agreement in October last year, under which Contained Gold, a... 

Troy says Karouni output to be at lower end of guidance

By: Mariaan Webb     27th May 2016 Gold miner Troy Resources advised shareholders on Friday that gold production at its Karouni mine, in Guyana, would be at the lower end of its guidance for 2016, owing to ongoing disruptions in the milling circuit. The company explained that contaminated lubrication oil was found to be the cause... 

Cleaver is new De Beers CEO

By: Martin Creamer     27th May 2016 Bruce Cleaver, 51, is the new CEO-designate of De Beers. He will take over from Philippe Mellier on July 1. After a half-decade at the helm, Mellier, who is ten years Cleaver’s senior, has honoured his commitment to step down as CEO after five years. 

Cleaver is new De Beers CEO
Photo by Creamer Media
New CEO-designate of De Beers Bruce Cleaver

Northern Territory passes Petroleum Amendment Bill

By: Mariaan Webb     27th May 2016 The Northern Territory Parliament has passed the Petroleum Amendment Bill, which the government and industry say will enhance the level of regu lation of onshore gas drilling. However, Labor voted against the Bill, having previously said that supporting the legislation would tantamount to... 

Northern Territory passes Petroleum Amendment Bill

Bid deadline for Anglo's coking coal mines set at June 6 – sources

By: Reuters     27th May 2016 Final bids for Anglo American's metallurgical coal mines in Australia, valued at up to $1.5-billion, must be submitted by June 6, three sources close to the matter said on Thursday. Anglo American, like its peers, is selling off prized assets after a prolonged commodities rout has left it with... 

Galaxy and General Mining placed in trading halts

By: Mariaan Webb     27th May 2016 Lithium company Galaxy Resources and its project partner General Mining have both asked the ASX to place their shares in a trading halt, resulting in speculation that the two companies are in talks about a potential corporate transaction. Galaxy said in its request for a trading halt that it... 

WTI, Brent crude rises above $50 for first time this year

By: Henry Lazenby     26th May 2016 Hamstrung oil producers could on Thursday afford a brief sigh of relief as the prices of both West Texas Intermediate (WTI) and Brent crude rose briefly above the psychologically important $50/bl-mark in early trading. WTI hit a high of $50.21/bl around 08:00 Eastern Daylight Time, while Brent... 

WTI, Brent crude rises above $50 for first time this year

Rio Tinto agrees to extend Laramide farm-in and JV agreements

By: Henry Lazenby     26th May 2016 Canadian uranium project developer Laramide Resources has received an extension from Rio Tinto Exploration (RTX) to complete certain work programmes and satisfy minimum spending obligations under the earn-in periods on the Rio Tinto Murphy farm-in and joint venture (JV) tenements in the Northern... 

Continually flipped Moz gold project goes for $17.5m

By: Martin Creamer     26th May 2016 The Manica gold project in Mozambique, which has been bought and sold several times in recent years, is being disposed of once more. On two occasions the disposals have been conducted under the same management head – Jan Nelson, who announced on Thursday that his London Aim-listed Xtract had... 

Continually flipped Moz gold project goes for $17.5m
Photo by Duane Daws
Xtract CEO Jan Nelson

Mining in hard times: small teams and big trucks for BHP's Olympic Dam

By: Reuters     26th May 2016 A vast copper and uranium lode in Australia's parched outback, global miner BHP Billiton's Olympic Dam was long emblematic of the industry's boom year projects: complex, ambitious and - until 2012 - slated for a $20-billion expansion. Like its rivals, BHP is still betting on copper, and the ore... 

Hillgrove cuts salaries to navigate cash flow constraints

By: Mariaan Webb     26th May 2016 The board, CEO, MD and employees of copper/gold miner Hillgrove Resources have agreed to salary reductions to help the company overcome cashflow constraints, chairperson Dean Brown reported on Thursday. In an address delivered at Hillgrove’s annual general meeting, he reported to shareholders... 

Sphere sees $14m loss after suspending development at Askaf

By: Samantha Herbst     26th May 2016 Having decided to slow down development at its main Askaf iron-ore project, in Mauritania, in October, Glencore subsidiary Sphere Minerals reported a net loss of $14-million from continuing operations after income tax for the year ended December 31, compared with a loss of $311.9-million for the... 

About 70% of total tonnes mined at Devon, reports GME

By: Samantha Herbst     26th May 2016 Since starting production at its 100% owned Devon gold mine, in Western Australia, ASX-listed junior developer GME Resources has mined about 70% of the total tonnes, including waste and ore. The company revealed on Thursday that four batches of ore – equating to 26 300 dry tonnes, or 40% of the... 

Lithium Australia joins forces with TSX-listed Alix to develop concession in Mexico

By: Samantha Herbst     26th May 2016 Following a memorandum of understanding signed Thursday, ASX-listed junior developer Lithium Australia has joined forces with TSX-listed Alix Resources to develop the lithium-extraction technologies needed to advance Alix’s lithium concessions – the Electra project – in Sonora, Mexico, earning... 

Kingsgate’s Chatree licence renewed to year-end, no certainty about mine’s future

By: Mariaan Webb     26th May 2016 Australian miner Kingsgate Consolidated on Thursday requested an extension of its voluntary trading halt on the ASX, owing to continued uncertainty over the future of its only operating mine, Chatree, in Thailand. The company was granted a renewal of its metallurgical licence for the gold mine,... 

Kingsgate’s Chatree licence renewed to year-end, no certainty about mine’s future
Gold ore is transported on belt at the Chatree gold mine, in Thailand.

Court approves Diversified Minerals’ takeover of Unity

By: Mariaan Webb     26th May 2016 The shares of Unity Mining were suspended from trading on the ASX at the close of market on Thursday, after the Supreme Court of Victoria approved Diversified Minerals’ takeover of the gold company. Unity shareholders would receive 3.3c cash for each share that they own, comprising 2.3c by way of... 

Bass Metals to move forward with Madagascar graphite buy

By: Mariaan Webb     26th May 2016 Australia’s Bass Metals said on Thursday that it would move ahead with the acquisition of a large flake graphite mine in Madagascar. Announcing the completion of a due diligence, chairperson Rick Anthon said that the acquisition of the operating Graphmada mine from Aim-listed Stratmin Global... 

Santos starts up second unit at GLNG

By: Mariaan Webb     26th May 2016 Oil and gas company Santos has started producing liquefied natural gas (LNG) at the second unit of the GLNG joint venture project, on Curtis Island, in Queensland, marking the successful delivery of the $18.5-billion two-train project. Santos MD and CEO Kevin Gallagher on Thursday described the... 

Santos starts up second unit at GLNG

New acid mine water process has huge agri potential in arid areas  

By: Martin Creamer     25th May 2016 The newly developed process that yields handsome profits by converting acid mine water into valuable fertiliser materials, also has the potential to process South Africa’s large volumes of currently unusable brackish groundwater. The use of the process that eradicates acid mine drainage (AMD) for... 

New acid mine water process has huge agri potential in arid areas
Photo by Duane Daws
Trailblazer Technolgies director John Bewsey

Gold Fields extends Macmahon contract at St Ives

By: Creamer Media Reporter      25th May 2016 Gold mining major Gold Fields has extended ASX-listed Macmahon Holdings’ contract to supply a fleet of opencut mining equipment and associated services to the St Ives gold mine, in Western Australia. Macmahon initially had a six month contract, which Gold Fields has now extended by 24 months. 

Karara Mining secures $200m loan

By: Mariaan Webb     25th May 2016 Iron-ore joint venture (JV) Karara Mining has secured a $200-million loan from China-based Shanghai Pudong Development Bank, ASX-listed Gindalbie Metals reported on Wednesday. The new loan would provide the JV with working capital to support the Karara iron-ore project, in Western Australia. 

Capital Mining eyes another lithium acquisition

By: Mariaan Webb     25th May 2016 ASX-listed Capital Mining was in “advanced stage” negotiations about a lithium acquisition, the company revealed on Wednesday. Capital Mining, which earlier this month announced a sales and purchase agreement to buy Shaw River Lithium and its 13 prospecting licences in the Pilbara, said it was... 

Capital Mining eyes another lithium acquisition
The demand for lithium-ion batteries is increasing, prompting more junior mining companies to enter the lithium sector.

Anglo Pacific optimistic about higher 2016 royalty income

By: Creamer Media Reporter      25th May 2016 LSE- and TSX-listed Anglo Pacific expects its royalty income for the full 2016 financial year to be significantly higher than the £8.7-million earned in 2015. The company noted in a trading update on Wednesday that royalty income for the first quarter of the year, ended March 31, was... 

India to merge underground coal mines to deploy longwall mining methods

By: Ajoy K Das     25th May 2016 To facilitate the induction of modern mining technology and equipment, India’s Coal Ministry is looking at merging underground mines in the same geographies and moving away from a trend of converting underground mines to opencast ones. An official in Coal India Limited’s (CIL’s) technical... 

India to merge underground coal mines to deploy longwall mining methods

Prairie to apply for mining concession in H1 2017

By: Mariaan Webb     25th May 2016 ASX-listed Prairie Mining said on Wednesday that it had made substantial progress in various permitting aspects of its Lublin coal project, in Poland, which would pave the way for a mining concession application in the first half of 2017. In Poland, companies had to submit a deposit development... 

MZI expects ‘significantly’ improved revenue as Keysbrook ramps up

By: Mariaan Webb     25th May 2016 ASX-listed MZI Resources expected to report “significantly” improved production and sales revenue in the June quarter, as its flagship Keysbrook mineral sands project, in Western Australia, continued to perform, MD Trevor Matthews reported on Wednesday. The company, which started production at... 

RBCT CEO to stand down

By: Martin Creamer     24th May 2016 Richards Bay Coal Terminal (RBCT) CEO Nosipho Siwisa-Damasane will be stepping down after four years at the helm. RBCT said on Tuesday that GM finance Alan Waller would be taking over as CEO from July 1, when GM strategy and compliance Casper Mbuyazi would assume the finance role. 

RBCT CEO to stand down
RBCT CEO Nosipho Siwisa-Damasane

New highly profitable acid mine water solution unveiled 

By: Martin Creamer     24th May 2016 A process has been developed that yields handsome profits by converting acid mine water into valuable fertiliser materials. The process, which purifies the water free of charge, removes all of the total dissolved solids and converts them into saleable products. 

New highly profitable acid mine water solution unveiled
Photo by Duane Daws
Trailblazer director John Bewsey (right) and Martin Creamer

Oil and gas discoveries at 64-year low as price slump hits exploration budgets

By: Creamer Media Reporter      24th May 2016 Conventional oil and gas discoveries outside North America have fallen to the lowest level since 1952, with recoverable resources of only 12-billion barrels of oil equivalent having been discovered in 2015. Analysis from NYSE-listed IHS, which was published on Tuesday, showed that the volume of... 

Aggressive drilling programme under way at Gascoyne’s Dalgaranga

By: Samantha Herbst     24th May 2016 Following the completion of a prefeasibility study of its 80%-owned Dalgaranga gold project earlier this year, which proved the project to be a robust development, ASX-listed gold hopeful Gascoyne Resources on Tuesday announced that an aggressive drilling programme was currently under way at... 

Richland targets output beyond 800 000 ct a quarter from Q3

By: Creamer Media Reporter      24th May 2016 Aim-listed Richland Resources expects to ramp up production at its Capricorn Sapphire project, in Australia, to beyond 800 000 ct a quarter from the third quarter of this year. Richland was implementing various modifications and improvements to ensure consistent production above the 800 000 ct a... 

Rio Tinto appoints new technology and innovation head

By: Creamer Media Reporter      24th May 2016 Diversified miner Rio Tinto on Tuesday announced the appointment of Stephen McIntosh as acting group executive for technology and innovation to succeed Greg Lilleyman, who would leave the company after 25 years of service. McIntosh has been with Rio Tinto for almost 30 years. Most recently, he... 

APC’s Dartbrook mine has coal resource estimate of 1.2bn tonnes

By: Samantha Herbst     24th May 2016 ASX-listed junior Australia Pacific Coal (APC) has identified a total coal resource estimate of 1.2-billion tonnes at its New South Wales-based Dartbrook coal mine, confirming the newly acquired mine as one of the largest underdeveloped coal operations in the Hunter Valley. After last week’s move... 

APC’s Dartbrook mine has coal resource estimate of 1.2bn tonnes

Archer studies shared rail solution for Leigh Creek project

By: Mariaan Webb     24th May 2016 ASX-listed explorer Archer Exploration has signed a heads of agreement with Bowmans Intermodal to assess the feasibility of developing and sharing rail infrastructure at Leigh Creek, in South Australia. Archer reported on Tuesday that the proposed shared rail facility would be located adjacent... 

De Beers ‘encouraged’ by stable rough diamond demand

By: Creamer Media Reporter      24th May 2016 Although De Beers’ rough diamond sales were lower for the fourth sales cycle of this year than in the third, the diamond miner said it was “encouraged by the continued stability of demand for rough diamonds”. De Beers sold about $630-million of diamonds in the fourth sales cycle up to May 23,... 

De Beers ‘encouraged’ by stable rough diamond demand
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