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BHP confirms class action over Samarco dam disaster

By: Esmarie Swanepoel     Updated 1 hour 52 minutes ago Mining major BHP on Monday said that defend itself against a class action filed in the Federal Court of Australia, in Victoria, relating to the Samarco dam failure. While the miner did not reveal any details regarding the class action proceedings, media reports on Monday said that some 3 000... 

BHP confirms class action over Samarco dam disaster

Doray forecasts higher production at Deflector, resource increased by 34%

By: Esmarie Swanepoel     Updated 1 hour 3 minutes ago Gold miner Doray Minerals has extended the life-of-mine (LoM) plan for its Deflector operation to the end of 2022, with the Western Australia-based mine now expected to deliver 43% more gold than the previous plan. The updated Deflector LoM plan is expected to produce an additional 340 000 oz of... 

Winmar buys into DRC cobalt processing facility

By: Esmarie Swanepoel     Updated 1 hour 10 minutes ago ASX-listed Winmar Resources has signed a head of agreement with African Holding Investment Company for a 50% interest in the Luapula cobalt processing facility, in the Democratic Republic of Congo. The processing facility, which was constructed in 2014 at a capital cost of $80-million, is a... 

Western Areas hits full year targets

By: Esmarie Swanepoel     Updated 1 hour 27 minutes ago Nickel miner Western Areas has delivered a solid fourth quarter during the three months to June, with the miner hitting its production targets in the full-year. Western Areas produced 6 381 t of nickel during the June quarter, up from the 6 236 t produced in the previous quarter, with full year... 

New assets double Yancoal production

By: Esmarie Swanepoel     Updated 1 hour 46 minutes ago Coal miner Yancoal has reported a 102% increase in saleable coal production and a 96% increase in sales volumes for the June quarter, after completing the acquisition of a 49% interest in the Hunter Valley Operations, in New South Wales, in May this year. The results also reflected Yancoal’s... 

Ark shares sink on sales talk

By: Esmarie Swanepoel     Updated 1 hour 42 minutes ago The share price of ASX-listed Ark Mines tumbled more than 15% on Monday, after the company announced the sale of its Mt Porter and Frances Creek tenements, in the Northern Territory. Ark told shareholders that it had inked a binding term sheet with Territory Iron to divest of the Pine Creek... 

Newcrest and Encounter extend search

By: Esmarie Swanepoel     Updated 1 hour 44 minutes ago Gold miner Newcrest Mining and fellow-listed Encounter Resources have extended a project generation alliance by a further 12 months. The initial agreement, which started in July last year, generated five separate unincorporated joint ventures between Newcrest and Encounter, covering some 4 400... 

Sanbrado permit adjusted for underground mining

By: Esmarie Swanepoel     Updated 1 hour 43 minutes ago The government of Burkina Faso has updated the mining permit for the Sanbrado gold project, allowing for both underground and openpit mining, and for the use of carbon-in-leach as a processing method. ASX-listed West African Resources in June this year updated the feasibility study for the... 

Poseidon gets new CEO

By: Esmarie Swanepoel     Updated 1 hour 49 minutes ago ASX-listed Poseidon Nickel has appointed Robert Dennis as MD and CEO, effective from August 1. Dennis is currently a non-executive director of the company, and was formerly the COO before taking up a role as COO of Independence Group in 2014. 

India takes step toward improving ease of doing business in mining

By: Ajoy K Das     Updated 2 hours 1 minute ago In a bid to ease doing business in the mining sector, the Indian government has approved a “single window” bundled clearance of all mandatory approvals for 288 mining leases that are slated to expire in 2020. Government officials said that new lease holders of these mines would not need to make... 

Lynas production hits record, further increases planned for Q1 FY2019

By: Esmarie Swanepoel     20th July 2018 Rare earths miner Lynas has reported record neodymium and praseodymium (NdPr) and rare-earth oxide (REO) production for the June quarter, with further increases planned for the September quarter. The ASX-listed company on Friday reported REO production of 4 804 t, up 17% on the previous quarter’s... 

Lynas production hits record, further increases planned for Q1 FY2019

Hecla wraps up Klondex acquisition, Havilah to list this week

By: Mariaan Webb     Updated 27 minutes ago Newly formed Havilah Mining, which was created following the spinout of Klondex Mines’ Canadian assets, will list on the TSX-V this week, US-based precious metals producer Hecla Mining said on Monday, announcing the completion of its Klondex acquisition. Havilah will own the True North mining... 

Petra meets FY18 production guidance, but lowers FY19 forecast

By: Marleny Arnoldi     Updated 32 minutes ago LSE-listed Petra Diamonds CE Johan Dippenaar on Monday said the company had achieved a solid progression for the full financial year ended June 30, after challenges in the 2017 financial year and in the first half of the 2018 financial year. Production rose by 15% year-on-year to 4.6-million... 

Tango Mining recovers 42.25 ct diamond from Northern Cape mine

By: Marleny Arnoldi     Updated 1 hour 8 minutes ago TSX-listed Tango Mining has recovered a 42.25 ct diamond from run-of-mine gravel at its Oena diamond mine, in South Africa’s Northern Cape. The diamond was recovered from the Oena central area and highlighted the production history of Oena, which is known to produce large, high-quality diamonds.  

Amplats buys Glencore’s stake in Mototolo JV, declares R3.74 dividend for H1

By: Marleny Arnoldi     Updated 1 hour 29 minutes ago JSE-listed Anglo American Platinum’s (Amplats’) subsidiary Rustenburg Platinum Mines has acquired diversified miner Glencore’s 39% stake in the companies’ joint venture (JV) Mototolo project, on the eastern limb of the Bushveld Complex, in Limpopo, for R1.5-billion. This solidifies Amplats’... 

Amplats buys Glencore’s stake in Mototolo JV, declares R3.74 dividend for H1
Photo by Creamer Media
Amplats CE Chris Criffith

Investor bearishness on platinum needs to be turned around ­– CPM 

By: Martin Creamer     Updated 2 hours 29 minutes ago There are two things that have to happen to boost platinum. One is that there will have to be ultimately further reductions in South African platinum production which is likely to happen over the next three to five years. But the bigger aspect that needs to happen more immediately is there has to... 

CPM Group managing partner Jeff Christian speaks to Mining Weekly Online’s Martin Creamer on platinum. Video: Christo Greyling. Video Editing: Nicholas Boyd.

Harmony exceeds annual production guidance

By: Simone Liedtke     Updated 2 hours 47 minutes ago Gold miner Harmony Gold has exceeded its production guidance for the financial year ended June 30 by 4%. The miner produced just over 1.2-million ounces of gold for the full-year, marking the third consecutive year of meeting its guidance. 

Harmony exceeds annual production guidance
Harmony CEO Peter Steenkamp

Coal market puzzled as China flashes conflicting output data

By: Bloomberg     Updated 3 hours ago Investors looking to China’s official production data to help divine where coal prices are heading might need to be extra cautious. Coal mining figures from the National Bureau of Statistics are flashing mixed signals. The agency pegs first-half output up 3.9% from a year ago. 

Barrick Gold is the undisclosed bidder for Detour Gold

By: Bloomberg     Updated 3 hours ago Barrick Gold is the undisclosed gold miner that was asked to sign a confidentiality agreement alongside activist investor John Paulson to discuss potentially buying Detour Gold, according to people familiar with the matter. While Barrick’s level of interest in Detour is unclear, neither Paulson... 

Cleveland-Cliffs delivers 171% y-o-y increase in earnings a share

By: Marleny Arnoldi     20th July 2018 NYSE-listed Cleveland-Cliffs has increased its earnings a share from continuing operations by 171% to $0.76 apiece for the quarter ended June 30, compared with $0.28 apiece in the second quarter of 2017. The company on Friday reported consolidated revenues of $714-million, compared to the prior... 

Detour Gold to enhance board, outlines 'next steps' in building value

By: Mariaan Webb     20th July 2018 Fresh from a week of public disagreements with hedge fund Paulson & Co, Ontario miner Detour Gold on Friday issued a statement detailing the “next steps” in building value for its shareholders, addressing issues around potential offers, an update on the CEO search and enhancements to the board.... 

Detour Gold to enhance board, outlines 'next steps' in building value
The Detour Lake mine

Mining at Alrosa’s Zarya to start next year

By: Marleny Arnoldi     20th July 2018 Russian diamond mining group Alrosa’s Zarya diamond deposit in Sakha (Yakutia) is in its final stages before diamond mining will start next year. Since 2016, ten-million-cubic-metres of overburden were removed from the openpit mine, reaching a depth of 100 m. Drainage ditch construction,... 

Premier appoints chairperson, considers way forward for RHA Tungsten project

By: Marleny Arnoldi     20th July 2018 Aim-listed Premier African Minerals has appointed nonexecutive director Michael Foster as nonexecutive chairperson effective July 20, to succeed George Roach, who remains CEO. Roach commented on Friday that the separation of chairperson and CEO is long overdue and is expected to enhance board... 

Acacia boss is getting frustrated waiting for Barrick solution

By: Bloomberg     20th July 2018 It’s been a year since Acacia Mining’s majority shareholder started talks on its behalf to end a standoff with the Tanzanian government and interim CEO Peter Geleta is getting frustrated. Barrick Gold, which owns about 64% of London-based Acacia, last month withdrew a timetable to resolve the... 

Acacia boss is getting frustrated waiting for Barrick solution

Acacia H1 net earnings fall 51% y/y

By: Marleny Arnoldi     20th July 2018 Tanzanian gold miner Acacia Mining’s net earnings for the first half of this year, ended June 30, decreased by 51% to $30.9-million, compared with the net earnings of $62.5-million recorded in the first half of 2017. Net earnings were impacted on by a $24.2-million impairment at Nyanzaga mine.  

Commodity price volatility will prevail as long as trade war threats prevail – BMI

By: Marleny Arnoldi     20th July 2018 Research firm BMI says most commodity prices will remain neutral on a three-month horizon, with the exception of oil prices which it expects to increase. Commodity prices performed poorly over June and July, but BMI believes the downside is limited for now as the drop in sentiment overshot... 

Electricity interruptions impact on Sasol’s FY18 production performance

By: Marleny Arnoldi     20th July 2018 Several unplanned electricity supply interruptions and two internal outages at its Secunda synfuels operations, resulted in lower production volumes for petrochemicals group Sasol for the financial year ended June 30. In a trading update published on Friday, the company said its earnings before... 

Nordgold plans to rapidly advance exploration at Burkina Faso mine

By: Marleny Arnoldi     20th July 2018 The exploration programme at gold producer Nordgold’s Taparko mine, in Burkina Faso, is advancing rapidly and is on track to achieve its objectives of replacing mined gold and increasing resources. In 2017, exploration activity added more than 200 000 oz to Taparko’s mineral resources and some... 

Kefi separates chairperson, MD roles with new appointments

By: Marleny Arnoldi     20th July 2018 Aim-listed Kefi Minerals has appointed deputy chairperson and senior independent nonexecutive director Mark Wellesley-Wood as nonexecutive chairperson, effective immediately. Executive chairperson Harry Anagnostarras-Adams will assume the role of MD, with immediate effect.  

PNG LNG signs mid-term offtake

By: Esmarie Swanepoel     20th July 2018 The Papua New Guinea liquefied natural gas (PNGG LNG) project partners have entered into a mid-term LNG sale and purchase agreement with Hong Kong-based PetroChina International Corporation. Under the agreement, the PNG LNG project will supply some 0.45-million tonnes of LNG a year over a... 

Gold edges up as US dollar trades below 1-year highs

By: Reuters     20th July 2018 Gold prices edged up in volatile trade on Friday, after hitting a one-year low in the previous session, as the US dollar eased from its highest in a year. Spot gold was trading at $1 224.55 an ounce at 0811 GMT. In the previous session, it fell to its weakest since July last year at $1 211.08 an... 

Evolution warns of production drop in 2019

By: Esmarie Swanepoel     20th July 2018 Australian gold miner Evolution Mining has reported higher production in its June quarter, compared with the previous quarter, hitting its full year production targets. However, the miner this week warned of lower outputs in the 2019 financial year. 

Silver Lake shows strong full year

By: Esmarie Swanepoel     20th July 2018 ASX-listed Silver Lake Resources has produced 42 258 oz of gold during the three months to June, which was down from the record 46 780 oz delivered in the previous quarter. The Daisy underground complex produced 17 585 oz during the June quarter, with Cock-eyed Bob adding 5 975 oz and Maxwells a... 

Mount Gibson stays steady

By: Esmarie Swanepoel     20th July 2018 Junior miner Mount Gibson has reported another steady quarter of iron sales during the June quarter, with one-million tonnes sold for revenues of A$45-million. “It was pleasing to complete the financial year with another solid operational effort in the Mid West and excellent progress at our... 

Mustang reports maiden resource at Caula

By: Esmarie Swanepoel     20th July 2018 ASX-listed Mustang Resources has reported a maiden Joint Ore Reserves Committee compliant resource of 22-million tonnes, at 0.37% vanadium pentoxide at its Caula vanadium-graphite project, in Mozambique. The Caula project is currently estimated to host some 81 600 t of vanadium pentoxide.  

OreCorp hoping for control of Tanzanian project

By: Esmarie Swanepoel     20th July 2018 Metals developer OreCorp’s Tanzanian subsidiary has completed its earn-in obligations into the Nyanzaga gold project, and has now exercised its option to gain full control of the project. OreCorp acquired a 25% stake in the project through spending around $14-million in completing a... 

Archer readies for spin-out

By: Esmarie Swanepoel     20th July 2018 ASX-listed junior Archer Exploration on Friday said that it will pursue an initial public offering (IPO) of its non-graphite exploration business on the ASX, before the end of 2018. The spin-out will be subject to market conditions and the necessary approvals, the company said. 

Trade war could knock 3% off global GDP – Bank of France study

By: Reuters     20th July 2018 An international trade war with wide-ranging tariff hikes could cut global gross domestic product by as much as three percent, according to a study by the French central bank on Thursday. The direct impact of a generalised 10 percentage point increase in import tariffs could alone knock 1% off... 

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