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Cashless home loans for migrant mineworkers on way – Teba

By: Martin Creamer     Updated 6 hours ago A system of providing incremental cashless home loans to migrant mineworkers living in distant areas is being implemented. Teba CEO Dr Graham Herbert, who spoke to Mining Weekly Online in the attached video interview on potential improvements to the much-criticised migrant labour system, says... 

Falling coal prices affects Qld budget

By: Esmarie Swanepoel Falling commodity prices have forced the Queensland government to slash nearly a A$1-billion from forecast state revenues for 2014/15. Treasurer Tim Nicholls on Thursday revised the full year revenue from t he previous A$50.1-billion to A$49.1-billion, to reflect the weaker outlook for coal... 

Falling coal prices affects Qld budget

Sword of Damocles hangs over Mintails

By: Esmarie Swanepoel The share price of South Africa-focused gold miner Mintails dropped by nearly 22% on Thursday on news that the company was failing to make its production targets. Mintails told shareholders on Thursday that the company’s openpit operational performance had been impacted by the failure of the... 

Poseidon advances Black Swan buy

By: Esmarie Swanepoel Nickel miner Poseidon Nickel on Thursday extended the expected completion date of the Black Swan operation, from the end of this calendar year until March next year. However, MD and CEO David Singleton said that the extension to the completion deadline would not change Poseidon’s overall... 

KBL turns to Supreme Court in Kidman battle

By: Esmarie Swanepoel The gloves have come off in the battle between ASX-listed KBL Mining and its creditor Kidman Resources, with KBL on Thursday launching legal proceedings against Kidman in the New South Wales Supreme Court. Earlier this month, Kidman issued an event of default on a A$12.6-million debt, which was... 

Crater starts mining at its PNG mine

By: Esmarie Swanepoel Junior miner Crater Gold Mining has started mining at its High Grade Zone (HGZ) project, at the Crater Mountain mine, in Papua New Guinea. The start of mining at Crater Mountain comes in the wake of Crater securing a mining lease, and successfully concluding a compensation agreement with the... 

Woodside and BP agree to explore Canadian waters

By: Esmarie Swanepoel Oil and gas producer Woodside has finalised an agreement with major BP over a farm-in offshore the Scotian basin, in Canada. Woodside on Thursday told shareholders that it would acquire a 20% participating interest in four exploration licenses in the Scotian basin, while BP would remain operator... 

Radar cancels rights issue, hopes to amend purchase terms

By: Esmarie Swanepoel ASX-listed junior Radar Iron was looking to amend the sales agreement of its Yerecoin project buy, after the company was forced to abandon a A$4.6-million rights issue. In September this year, Radar announced its plans to raise A$5.5-million through a rights issue and share placement. Some... 

Cockatoo Island set for new mine plan - Pluton

By: Esmarie Swanepoel The receivers and managers of iron-ore junior Pluton Resources were in the process of formulating a long-term mining and operations plan for the Cockatoo Island project, the company said this week. In November this year, project house Watpac was ordered to undertake a limited scope of mining... 

Doray expects more from Andy Well in 2015

By: Esmarie Swanepoel Gold miner Doray Minerals on Thursday increased its 2015 production expectations for the Andy Well operation, in Western Australia, o the back of a 67% increase in the openpit mining inventory at the Wilber Stage 2 openpit operation. The mine was now expected to produce between 85 000 oz and 90... 

CoAL extends mine sale deadline, capital-raise timeframe

By: Martin Creamer The deadline for the disposal of the Mooiplaats colliery by the triple-listed Coal of Africa Limited (CoAL) as well its capital-raising timeframe have been extended out. Johannesburg, London and Sydney-listed CoAL said on Wednesday that it had agreed to give suitor Blackspear Capital more time to... 

CoAL extends mine sale deadline, capital-raise timeframe
Photo by Duane Daws
David Brown

Sirius secures cash to fund Nova development

By: Esmarie Swanepoel Nickel developer Sirius Resources has secured a syndicated facility agreement worth A$440-million to fund the development of its Nova nickel project, in Western Australia. Sirius told shareholders that it had agreed to the facility, with Australia and New Zealand Banking Group, BNP Paribas, The... 

Anglo focuses on safety at Grasstree

By: Esmarie Swanepoel Mining major Anglo American said this week that the company would only look to re-open the Grasstree coal mine, in Queensland, once the safety of personnel could be assured. Operations at the mine were suspended last week after a contractor was killed on site. 

Govts urged to improve gas supply

By: Esmarie Swanepoel The Australian Pipeline Industry Association has called on state governments to act in order to increase gas supply, after a report from the Australian Energy Market Operator (AEMO) revealed a declining demand in domestic gas use. The AEMO report found that between 2014 and 2019, South... 

New guidelines given for fracking in WA

By: Esmarie Swanepoel The Australian Petroleum Production and Exploration Association (Appea) has welcomed Western Australia’s Environmental Protection Authority’s (EPA’s) new assessment guidelines for hydraulic fracturing, saying they supported the state’s existing regulatory regime. The EPA on Wednesday released a... 

New guidelines given for fracking in WA

Universal on track for Roodekop delivery

By: Esmarie Swanepoel South Africa-focused coal miner Universal Coal said on Wednesday that it was on track to deliver the Roodekop mine and the New Clydesdale colliery, by 2015. The combined operations would have an installed capacity of more than 6.25-million tonne a year, and an expected run-of-mine production of... 

Valence declares maiden reserve in South Australia

By: Esmarie Swanepoel ASX-listed Valence Industries has reported a maiden ore reserve of 261 000 t of graphite at the Uley project, in South Australia. Valence officially reopened the Uley mine in November this year, announcing plans to restart production pending the approval of the state government. 

Magnis signs offtake deal over Tanzanian graphite

By: Esmarie Swanepoel Junior graphite developer Magnis Resources has inked an offtake agreement with China National Materials Industry Import and Export Corporation (SINOMA) from the Nachu project, in Tanzinia. Under the terms of the offtake agreement, SINOMA would purchase some 80 000 t/y of graphite, across all... 

Maules Creek ships three months ahead of schedule - Whitehaven

By: Esmarie Swanepoel The Maules Creek mine, in New South Wales, was posed to deliver its first coal train this week, some three months ahead of schedule, owner Whitehaven Coal said on Wednesday. Following a test train earlier this week, coal from the Maules Creek mine was now poised to leave for the port at Newcastle. 

Discovery set to shut Boseto mine

By: Esmarie Swanepoel Copper miner Discovery Metals on Wednesday announced that it would mothball its Boseto openpit operation, in Botswana, within the next six months. The miner told shareholders that a review of the openpit operation had been launched earlier this year to determine the effect of the current and... 

Despite gold hedge book contracting in Q3, full-year growth expected

By: Henry Lazenby A new report released on Tuesday by Societe Generale and Thompson Reuters GFMS had found that net gold hedging had declined by a net 200 000 oz in the third quarter. This was the result of a slowdown in the volume of hedging, which meant that the delivery into and the maturity of pre-existing... 

Despite gold hedge book contracting in Q3, full-year growth expected

'Phenomenal' rise in India's gold imports a concern - trade secy

By: Reuters A "phenomenal" rise in India's gold imports is a concern and the government will watch the impact from a recent easing in gold import rules, Trade Secretary Rajeev Kher said on Tuesday. Gold imports jumped 34% in November to $5.61-billion, sending India's trade deficit to a 18 month high, data... 

Red Mountain nails down financier for Batangas

By: Esmarie Swanepoel ASX-listed Red Mountain Mining has secured $5.5-million from a private investor to fund its definitive feasibility study (DFS), final permitting and development of its Batangas gold project, in the Philippines. The company reported on Tuesday that the two-stage funding would see the private... 

Poseidon puts price tag on Lake Johnston restart

By: Esmarie Swanepoel ASX-listed nickel miner Poseidon Nickel on Tuesday announced that its Lake Johnston project, in Western Australia, would require a capital injection of some A$8.3-million to restart operations. Poseidon acquired the Lake Johnston project from Norilsk Nickel in a A$1-million deal in September... 

Aurelia raises cash for Hera exploration

By: Esmarie Swanepoel Metals miner Aurelia Metals has launched a non-renounceable rights issue to raise some A$10-million to fund a drilling campaign at it Hera-Nymagee project, in New South Wales, as well as to pursue potential growth transactions. The miner said on Tuesday that it would offer eligible shareholders... 

Peninsula secures funding for Lance construction

By: Esmarie Swanepoel US-focused Peninsula Energy has signed a $69.4-million funding deal to fund the remaining construction and Stage 1 ramp-up of its Lance uranium project, in Wyoming. The fully underwritten institutional funding included a $16.8-million placement to Resource Capital Fund, with the shares priced at... 

Lillymay gets first resource estimate - Syndicated

By: Esmarie Swanepoel ASX-listed Syndicated Metals has announced a maiden Joint Ore Reserves Committee complaint mineral resource of 225 295 t, grading 2.3% copper and 0.02 g/t gold at its Lillymay satellite deposit, in north Queensland. The project, which is estimated to host some 5 250 t of copper, forms part of... 

Sundance strips down on costs and board members

By: Esmarie Swanepoel Iron-ore developer Sundance Resources on Tuesday announced a number of cost cuts as part of a cash management strategy while the company moved ahead with the development of its Mbalam-Nabeba iron-ore project, on the border between Cameroon and the Republic of Congo. The company told shareholders... 

IMX signs new JV deal over Ntaka Hill

By: Esmarie Swanepoel Junior explorer IMX Resources has agreed to a joint venture (JV) with Mauritius-based Fig Tree Resources Fund II, to divest of more than 70% of its Ntaka Hill nickel project, in Tanzania, in a deal valued at $5.88-million. IMX has been on the hunt for an investor into the Ntaka Hill project... 

Santos sells stake in Sole gas field

By: Esmarie Swanepoel Australian energy major Santos has sold a 50% stake in its Sole gas field and the Orbost gas plant, in Victoria, to fellow-listed Cooper Energy. Under the terms of the agreement, Cooper would acquire its share in the gas field and gas plant for an initial A$2.5-million in cash. Cooper would also... 

Woodside buys into Wheatstone, advances Browse

By: Esmarie Swanepoel Oil and gas miner Woodside would spend some $2.75-billion to acquire Apache Corporation’s share in the Wheatstone liquefied natural gas (LNG) project, the Balnaves oil interest, and the Kitimat LNG project in Canada. CEO Peter Coleman told shareholders that the acquisition was a natural fit with... 

Woodside buys into Wheatstone, advances Browse
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