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Govt must ban fracking – report

By: Esmarie Swanepoel     Updated 3 hours ago An interim report by a Select Committee on unconventional gas mining in Australia has recommended that the federal government work with state and territory governments to ban the process of hydraulic fracturing across the country. In November, the Senate resolved to establish a Select Committee... 

Govt must ban fracking – report

Environmental groups' tax matters under the microscope

By: Esmarie Swanepoel     Updated 3 hours ago The Australian resources sector has welcomed a report by the House of Representatives Standing Committee on the Environment that looks into the register of environmental organisations. In March 2015, Environment Minister Greg Hunt asked the committee to inquire into and report on the... 

Rio's new boss focused on cost savings

By: Esmarie Swanepoel     Updated 3 hours ago Mining giant Rio Tinto’s incoming CEO Jean-Sébastien Jacques on Thursday told shareholders at the company’s annual general meeting, in Brisbane, that his focus would remain firmly on productivity improvements. Jacques, who was previously employed as Rio’s copper and coal CEO, will succeed Sam... 

Newcrest hedges more gold at Telfer, adjusts lending faciilties

By: Esmarie Swanepoel     Updated 3 hours ago Gold miner Newcrest Mining has hedged an additional 200 000 oz of gold sales from its Telfer gold mine, in Western Australia. The company said on Thursday that the gold sales for the 2018 and 2019 financial years were hedged at an average price of A$1 773/oz. 

AWE sells its interest in the Bulu PSC

By: Esmarie Swanepoel     Updated 3 hours ago ASX-listed AWE has continued with its strategy of divesting of its non-core assets, announcing on Thursday the sale of its 42.5% interest in the Bulu production sharing contract (PSC) for A$27.5-million in cash. The Bulu PSC is located offshore east Java and included the undeveloped Lengo gas... 

OreCorp raises A$16.2m for gold projects

By: Esmarie Swanepoel     Updated 3 hours ago ASX-listed gold developer OreCorp would raise some A$16.2-million through a share placement to institutional and sophisticated investors in Europe and Australia, to fund scoping and feasibility studies on its Nyanzaga gold project, in Tanzania. The company said on Thursday that up to 60-million... 

Penny's Find gets the green light

By: Esmarie Swanepoel     Updated 3 hours ago The Western Australian government has given ASX-listed junior Empire Resources approval to start mining at the Penny’s Find gold project. “This is a critical approval that means there are no technical impediments for our plans to mine at Penny’s Find upon the completion of a bankable feasibility... 

Glencore cuts supply cloth to fit demand coat

By: Martin Creamer The mix of mining and marketing within the same company provides sensitivity to commodity price falls. Continually highlighting the value of the mining-marketing mix is Glencore, which is quick to respond to market changes. 

Glencore cuts supply cloth to fit demand coat
Photo by Duane Daws
Ivan Glasenberg hand-in-hand with Education Minister Angie Motshekga at school opening.

Fertoz eyes more offtake in British Colombia

By: Esmarie Swanepoel     Updated 3 hours ago Phosphate developer Fertoz has signed a memorandum of understanding (MoU) for the supply of 2 000 t/y of phosphate rock, over a three year period. The MoU followed on the 2 000 t of contracted sales announced by Fertoz in February this year, which was on track for supply in the third quarter of... 

Creamer Media publishes Automotive 2016: A review of South Africa's automotive sector

Figures from the National Association of Automobile Manufacturers of South Africa show that 617 749 new vehicles were sold in South Africa in 2015, marking a decline of 4% on the sales recorded in 2014 and representing the second consecutive year of decline for this indicator. In March this year... 

Creamer Media publishes  Automotive 2016: A review of South Africa's automotive sector

Aus resources sector receives A$100m exploration boost

By: Esmarie Swanepoel The Australian resources sector has welcomed the federal government’s 2016/17 Budget, which saw Treasurer Scott Morrison assigning A$100-million to Geoscience Australia to boost the productivity and competitiveness of the minerals sector. Resources and Energy Minister Josh Frydenberg said the... 

Aus resources sector receives A$100m exploration boost

Rio rides to Era's rescue

By: Esmarie Swanepoel Uranium miner Energy Resources of Australia (Era) has signed a A$100-million credit facility with parent company Rio Tinto to allow for the rehabilitation of the Ranger project area, in the Northern Territory. The ASX-listed Era told shareholders that at the end of December last year, the... 

Rio rides to Era's rescue

Low rare earths prices cause drop in Lynas revenue

By: Esmarie Swanepoel Rare earths miner Lynas has reported a significant drop in revenue for the three months to March 31, owing to low rare earths prices, which also hinders the miner’s plans to fund improvements at its Lynas Advanced Materials Plant (Lamp) operation, in Malaysia, through cash flows. Sales revenue... 

Low rare earths prices cause drop in Lynas revenue

State, Commonwealth budgets under pressure amid commodity price slump 

By: Esmarie Swanepoel Advisory firm Deloitte Access Economics said on Thursday that both state and Commonwealth budgets would remain under pressure as commodity prices continued to remain low. In its latest edition of the Investment Monitor publication, the firm noted that the fall in mining investment in Queensland... 

State, Commonwealth budgets under pressure amid commodity price slump

Fertiliser company Mosaic's sales beat estimates

By: Reuters US fertiliser company Mosaic Co forecast higher phosphate and potash sales for the current quarter after it reported higher-than-expected first quarter sales. The company's net sales fell 21.7% in the first quarter to $1.67-billion, but beat the average analyst estimate of $1.56-billion. 

World's biggest diamond to be auctioned in London

By: Reuters "Lesedi la Rona," the largest gem-quality rough diamond discovered in more than 100 years, will be auctioned in London next month and is expected to sell for $70-million, international auction house Sotheby's said on Wednesday. Ahead of the auction on June 29, the 1 190-carat diamond, its name... 

Centerra remains open to negotiations with Kyrgyz govt on Kumtor mine

By: Henry Lazenby Canadian miner Centerra Gold on Wednesday said the Kyrgyz Republic had “very recently” voiced its dissatisfaction with the current arrangements governing Centerra and the Kumtor project, but had made no proposals to address the situation. TSX-listed Centerra noted earlier in the week that the... 

Oilsands production throttled back as Fort McMurray burns

By: Henry Lazenby Oil and gas companies operating in Canada's oilsands capital of Fort McMurray have scaled back their operations in the face of an exteme wildfire hazard advisory issued by the Alberta Department of Agriculture and Forestry. Major oil sands producer Suncor Energy announced late on Tuesday that it... 

Oilsands production throttled back as Fort McMurray burns

Implats secures US court order against platinum recycler

By: Martin Creamer Platinum mining company Impala Platinum (Implats) has secured a court order against a US platinum recycler, from which it is claiming $201-million. Implats said on Wednesday that the order, issued by the US District Court for the Eastern District of Pennsylvania, confirmed a London Court of... 

Implats secures US court order against platinum recycler
Brenda Berlin

A watershed year ahead for DiamondCorp, says CEO

By: Natasha Odendaal As Aim-listed DiamondCorp wraps up the 2015 financial year, the diamond group is looking ahead to 2016 as a watershed year that will see the company officially transition from a developer into a diamond producer. DiamondCorp, which posted a net loss of £2.41-million for 2015, also restarted the... 

Amplats-backed developer in potential fuel cell breakthrough

By: Martin Creamer A potentially far-reaching step has been taken towards the viable roll-out of hydrogen refuelling infrastructure for platinum-using fuel cell electric vehicles (FCEVs) with the launch of a system that allows hydrogen to be stored and transported in conventional fuel infrastructure. The hydrogen... 

Amplats-backed developer in potential fuel cell breakthrough
Photo by Duane Daws
Andrew Hinkly

Gemfields posts ‘solid’ production in Q3

Despite reporting lower year-on-year emerald and beryl production in the three months to March 31, Gemfields CEO Ian Harebottle said the company had “another pleasing quarter of solid production across its emerald and ruby operations”. He noted that both its 75%-owned Kagem and Montepuez... 

Randgold’s Q1 earnings trend upwards as production falls

By: Natasha Odendaal London-listed Randgold Resources' flagship Loulo-Gounkoto complex, in Mali,  was the star performer in the first quarter of the year, partially offsetting the impact of the challenges hindering the group’s other operations. 

CoAL, Rio Tinto reach new agreement over disputed deferred payment

By: Natasha Odendaal Triple-listed Coal of Africa Limited (CoAL) on Wednesday said it had reached an agreement with Rio Tinto Minerals Development and Rio Tinto’s joint venture partner Kwezi Mining over the deferred consideration payable by CoAL subsidiary MbeuYashu. Following the receipt – and subsequent dispute by... 

Deal opens way for commercialisation of Free State gas deposit, helium plant investment

By: Terence Creamer A contract signed on Wednesday between alternative energy company Renergen, JSE-listed Afrox and The Linde Group, of Germany, is expected to open the way for a €13-million investment into the commercialisation of a Free State natural gas resource and the creation of a large-scale helium... 

Deal opens way for commercialisation of Free State gas deposit, helium plant investment
Photo by Duane Daws
Renergen CEO Stefano Marani, The Linde Group’s Dr Alexander Brandl and head Nick Haines and Afrox MD Schalk Venter

Eskom claims ‘steady’ recovery in energy availability factor 

By: Terence Creamer State-owned electricity utility Eskom this week claimed that there had been a steady improvement in the energy availability factor (EAF) at its power stations, reporting “preliminary figures” indicating an EAF of 76.37% from the start of its financial year to May 3, 2016. The group’s financial... 

Eskom claims ‘steady’ recovery in energy availability factor

Chamber of Mines welcomes dismissal of consolidation application

By: Natasha Odendaal The Pretoria High Court has dismissed, with costs, law firm Malan Scholes’s application to consolidate its case with that of the Chamber of Mines (CoM) to seek clarity on certain aspects of the Mining Charter. The move was welcomed by the chamber, which had opposed Malan Scholes’s ambitions of... 

Era sets priorities for Ranger mine

By: Esmarie Swanepoel Uranium miner Energy Resources of Australia (Era) has identified three priorities at its Ranger mine, in the Northern Territory, following a strategic review of the uranium project. The review was initiated after Era failed to gain approval for an extension of its Ranger authority. The current... 

BHP, Vale face new A$43bn claim over Samarco tailings dam failure

By: Esmarie Swanepoel Diversified major BHP Billiton's share price fell by 9.4% on Wednesday after it announced that the Brazilian Federal Public Prosecution Service had launched a A$43-billion legal claim against it and joint venture (JV) partner Vale following a 2015 tailings dam failure at the Samarco iron-ore... 

Venturex expands lithium footprint

By: Esmarie Swanepoel ASX-listed junior Venturex Minerals has expanded its land-holding in the Balingup metamorphic belt, in Western Australia, as it continues its hunt for lithium in the region. The metals explorer has secured a number of highly prospective lithium prospects in the region, making it the largest... 

Elementos and Chinalco dissolve Millennium JV, sell assets

By: Esmarie Swanepoel Junior tin developer Elementos and fellow-listed Chinalco Yunnan Copper Resources have dissolved their Millennium joint venture (JV), in Queensland, with the parties selling their interest in five mining leases to ASX-listed Hammer Metals. Elementos and Chinalco in 2013 entered into the JV... 

Middle Island buys Sandstone project

By: Esmarie Swanepoel ASX-listed Middle Island Resources on Wednesday told shareholders that it would acquire the Sandstone gold project, in Western Australia, for A$2.5-million from Black Oak Minerals. The project is estimated to host a mineral resource of some 480 000 oz of gold, with existing drilling indicating... 

Gold Road inks native title agreement in WA

By: Esmarie Swanepoel Gold developer Gold Road Resources has inked a native title agreement over its Gruyere and Central Bore gold projects, in Western Australia. The ASX-listed junior said on Wednesday that the landmark agreement with the Yika People and the Cosmo Newberry Aboriginal Corporation marked the first... 

Chalice sells Cameron project

By: Esmarie Swanepoel Dual-listed gold miner Chalice Gold Mines has agreed to divest of its Cameron gold project, in Ontario, in exchange for shares in TSX-listed First Mining Finance Corp. Chalice told shareholders on Wednesday that the company would sell its wholly-owned subsidiary Cameron Gold Operations to First... 

Fortescue wipes out more debt

By: Esmarie Swanepoel Iron-ore major Fortescue Metals has issued a $650-million repayment issue for its 2019 senior secured term loan. The repayment comes just days after the miner announced a $577-million repayment of senior unsecured notes. 

A glut faces Indian iron-ore miners

By: Ajoy K Das India is facing an imminent glut in iron-ore with production forecast at 180-million tonnes for the 2016/17 financial year and a current carryover stockpile of 140-million tonnes. The increase in stockpiles came despite a 63% drop in imports during 2015/16, to 5.6-million tonnes, with miners... 

Wescoal appoints new CFO

Coal mining and trading company Wescoal has appointed Bothwell Mazarura as group FD and CFO, effective July 1. He would succeed former CFO Morne du Plessis, who resigned in September last year. 

Sandvik to put two units on block amid restructuring drive

By: Reuters Swedish engineering group Sandvik on Tuesday announced that it was preparing to exit two non-core operations as it consolidated its structure into three business areas amid a drive to boost efficiency. The tool and mining equipment maker said it now considered Sandvik Process Systems and Sandvik... 

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