Au 1256.43 $/oz Change: 2.59
Pt 935.00 $/oz Change: 1.00

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Newcrest production falls after Cadia disruptions

By: Esmarie Swanepoel     Updated 7 hours ago Australian gold miner Newcrest Mining has reported lower fourth-quarter and full year gold production, following disruptions at the Cadia East operation, in New South Wales. Gold production during the three months to June was down 7.8% on the previous quarter, to 552 000 oz, while full-year... 

Newcrest production falls after Cadia disruptions

Export restrictions risk exacerbating domestic gas supply problem – Appea

By: Esmarie Swanepoel     Updated 7 hours ago The Australian Petroleum Production & Exploration Association (Appea) has again warned against plans to restrict gas exports to boost domestic supply. The warning comes as Resources Minister Matt Canavan gave formal notice to liquefied natural gas (LNG) producers that he would consider whether... 

Embattled Paladin secures new financing facility

By: Esmarie Swanepoel     Updated 7 hours ago The administrators of embattled uranium miner Paladin Energy have secured some $40-million of additional debt, announcing on Monday that they had entered into agreements with Deutsche Bank. Under the agreements, Deutsche Bank would acquire an existing $20-million revolving credit facility from... 

MCA calls for GST reform to ‘restore fairness’

By: Esmarie Swanepoel     Updated 6 hours ago The Minerals Council of Australia (MCA) believes Australia’s complex system for sharing nearly A$60-billion in goods and services tax (GST) revenues between the states and territories is broken as evidenced by the fact that Western Australia loses more GST than it collects in iron-ore mining... 

Altona sinks Sichuan deal

By: Esmarie Swanepoel     Updated 7 hours ago ASX-listed Altona Mining has abandoned joint venture (JV) agreement with Sichuan Railway Investment Group (SRIG) over the Cloncurry project, in north-west Queensland, after the Chinese group failed to secure regulatory approval for the transaction. Altona already granting SRIG an extension to... 

Iluka production spikes in June quarter

By: Esmarie Swanepoel     Updated 7 hours ago Mineral sands miner Iluka Resources has reported an increase in production and sales for the three months and six months to June, as the mineral sands market improved. ASX-listed Iluka on Monday reported that total zircon, rutile and synthetic rutile production for the June quarter increased to... 

Rio Tinto and Serbia sign MoU to speed up lithium project

By: Mariaan Webb     Updated 41 minutes ago London-based Rio Tinto has signed a memorandum of understanding (MoU) with the government of Serbia to progress the development of a deposit containing one of the 21st Century’s hottest commodities – lithium. The MoU sets out how the Jadar project could be moved forward, with joint working... 

Pilgangoora gets going

By: Esmarie Swanepoel     Updated 7 hours ago Lithium developer Pilbara Minerals has awarded several key contracts as part of its expedited construction schedule at the Pilgangoora lithium project, in Western Australia. The ASX-listed junior on Monday said that the final contract for the Stage 2 plant construction had been awarded, and that... 

Australia ships first uranium to India for testing, Bishop says

By: Bloomberg     Updated 7 hours ago Australia has sent its first uranium shipment to India for testing purposes ahead of possible commercial sales to the nation, Foreign Minister Julie Bishop said. “I can confirm that the first shipment of uranium has taken place in mid-July, when a small sample of uranium was transferred for... 

India’s Steel Ministry seeks to relax coal block auction rules

By: Ajoy K Das     Updated 6 hours ago Stung by the lack of response to the auctioning of coking coal blocks exclusively for steel companies, India’s Steel Ministry is seeking to tweak the auction rules. The Steel Ministry has started work in conjunction with its counterparts in Coal Ministry to ensure certain auction rules are made... 

Alacer completes Turkish Lira hedging contracts; eyes Çöpler capex saving

By: Henry Lazenby     21st July 2017 Turkey-focused miner Alacer Gold has completed foreign currency forward sales contracts to limit its exposure to the volatility of the Turkish Lira (TRY), the company announced on Friday. Alacer, which operates and owns an 80%-stake in the country’s Çöpler mine, said the hedging programme covers... 

Makabingui granted Presidential Decree

By: Esmarie Swanepoel     Updated 7 hours ago ASX-listed Bassari Resources has been granted a Presidential Decree for its Makabingui gold project, in Senegal. The company said on Monday that the decree validated the terms of the Makabingui exploration permit, which was issued by the Mines Department and signed by the Minister of Mines and... 

Freeport Indonesia mine workers extend strike for fourth month

By: Reuters     21st July 2017 An estimated 5 000 workers at the giant Grasberg copper mine operated by Freeport-McMoRan's Indonesian unit will extend their strike for a fourth month, a union official said on Friday, in an ongoing dispute over layoffs and employment terms. The escalating labour issue comes as Freeport, the... 

Philippines' Duterte warns miners: 'I will tax you to death'

By: Reuters     Updated 2 hours 54 minutes ago Philippine President Rodrigo Duterte on Monday said he wanted to stop exporting mineral resources and might close the mining sector completely and tax miners "to death" if damage to the environment persisted. "The protection of the environment must be made a priority ahead of mining and all... 

Silver Lake reports strong production performance

By: Mariaan Webb     21st July 2017 Gold miner Silver Lake lifted its June quarter gold production by 37% quarter-on-quarter to 46 393 oz, taking full-year output to 148 244 oz – a 5% improvement on the previous year’s production performance. The company, which mines gold in the Mount Monger region of Western Australia, sold 37... 

Silver Lake reports strong production performance

Vast secures $10m in funding for Romanian projects

By: Anine Kilian     Updated 19 minutes ago Aim-listed Vast Resources has entered into a conditional heads of terms relating to a proposed investment of up to $10-million in Vast by a corporate finance and investment firm in Romania. The proposed investment will be made in two stages, with $8-million to be paid at stage one and $2-million... 

Zwane faces treason charges

By: News24Wire      Updated 29 minutes ago Minister of Mineral Resources Mosebenzi Zwane faces treason charges after the Organisation Undoing Tax Abuse (Outa) laid charges against him on Monday. Outa said Zwane would have to answer for actively aiding State capture and damaging South Africa’s economy. Apart from treason the charges laid... 

 Zwane faces treason charges
Photo by Duane Daws
Minister of Mineral Resources Mosebenzi Zwane

Petra eyes double-digit growth in FY18 production

By: Natasha Odendaal     Updated 1 hour 8 minutes ago Diamond miner Petra Diamonds has tabled a production guidance for the 2018 financial year of between 4.8-million and five-million carats, up 23% on the year ended June 30, 2017, on the back of the continued roll-out of expansion programmes. With continual increases in production, the company set... 

Ukraine’s Ferrexpo raising $350m pre-export loan

By: Reuters     Updated 1 hour 18 minutes ago Ukrainian iron-ore producer Ferrexpo is raising a four-year pre-export syndicated loan of up to $350-million, banking sources said on Monday. The deal is the first time the company has tapped the syndicated loan market since discharging financial restructuring advisers in April 2016. 

Opec moves to cap Nigerian oil output, boost compliance

By: Reuters     Updated 1 hour 58 minutes ago Opec moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices. Opec has agreed with several non-Opec producers led by Russia to cut oil output by a combined 1.8-million... 

Anglo Asian targets production from Ugur mine in Q4

By: Mariaan Webb     Updated 2 hours ago Gold, copper and silver miner Anglo Asian is on schedule to produce the first ore from its Ugur deposit – a new mineral resource 3 km west of its Gedabek licence in western Azerbaijan – in the fourth quarter of this year. The deposit, which was discovered last year, provided the company with an... 

Botswana coal mine stalls as farmers reject compensation deal

By: Reuters     Updated 2 hours 17 minutes ago Development of a new 1.35-million-tonne-a-year coal mine in Botswana has stalled due to a dispute over compensation payable to farmers holding surface rights in the proposed mining area, the company developing the mine said on Monday. The open cast mine is meant to supply coal to a new 300 MW... 

Alrosa's H1 diamond output up 14%

By: Mariaan Webb     Updated 2 hours 33 minutes ago Russian mining giant Alrosa boosted its diamond production by 14% year-on-year in the first six months of 2017, as higher diamond grades were achieved from several pipes. The company produced 19.3-million carats of rough diamonds from the processing of 16.9-million tons of ore and sand. 

Alrosa's H1 diamond output up 14%
Alrosa's Nyurba operation

Highland Gold reaffirms FY forecast

By: Mariaan Webb     Updated 2 hours 56 minutes ago Russia-focused gold miner Highland Gold has reaffirmed its production forecast of 255 000 oz to 265 000 oz for 2017, after reporting higher first-half production. The Aim-listed company, which owns the Mnogovershinnoye (MNV), Novoshirokinskoye (Novo) and Belaya Gora operations, produced 131 784... 

EU activates 'all diplomatic channels' over new US sanctions on Russia

By: Reuters     Updated 3 hours ago The European Commission is concerned about new US sanctions on Russia that could impact Europe's energy security and has activated "all diplomatic channels" to resolve the issue. US Republicans and Democrats reached a deal on legislation to allow new sanctions against Russia, which has led to... 

Moratorium likely beyond Zwane’s power – law firm

By: Natasha Odendaal     Updated 4 hours ago A controversial proposed mineral rights moratorium may very well be beyond the scope of Mineral Resources Minister Mosebenzi Zwane's powers. Zwane last week gazetted an invitation to comment on a proposal to restrict the granting of new mining and prospecting rights applications and to restrict... 

ASA Resources to sell Klipspringer mine

By: Anine Kilian     Updated 5 hours ago Aim-listed ASA Resources’ 73%-owned subsidiary SouthernEra Diamonds will sell its Klipspringer diamond mine, in South Africa, to mining exploration company Greenhurst Mining for R23-million. Klipspringer has been making a loss of at least R1-million a month. 

Four bodies retrieved from North West mine

By: African News Agency      Updated 5 hours ago Rescuers have retrieved bodies of four mine workers trapped underground during a seismic accident at Tau Lekoa mine in Orkney, North West. The incident happened over the weekend. 

Anglesey completes scoping study for Wales mine

By: Creamer Media Reporter      Updated 5 hours ago Project developer Anglesey Mining on Monday published the results of its scoping study for the Parys Mountain copper/zinc/lead project, in north Wales, which demonstrates a viable mine development. The study, which Micon International and Fairport Engineering prepared, envisages a mining rate of... 

Anglesey completes scoping study for Wales mine
A file photo showing driling at the Parys Mountain site.

Randgold continues to seek out Tongon life extension prospects

By: Natasha Odendaal     Updated 6 hours ago With the Tongon gold mine, in Côte d’Ivoire, operating to plan, West Africa-focused gold miner Randgold Resources has shifted its focus to the discovery of additional reserves and resources. Tongon continued to ramp up production, tracking the 2017 output target of 285 000 oz of gold, CEO Mark... 

Sibanye appoints COO for US region

By: Anine Kilian     Updated 6 hours ago JSE- and NYSE-listed precious metals miner Sibanye Resources has appointed Ken Kluksdahl COO for the US region. “We welcome Kluksdahl to Sibanye’s US region executive team and look forward to his contribution,” Sibanye executive VP: US region Chris Bateman said in a statement. 

Amplats strengthens balance sheet, continues to manage for low prices

By: Martin Creamer     Updated 6 hours ago Platinum mining company Anglo American Platinum (Amplats) reported on Monday that it has been able to further strengthen its balance sheet in the six months to June 30, despite the weaker rand basket prices in the period. In generating R4.3-billion in underlying operating cash flow, Amplats was... 

Amplats strengthens balance sheet, continues to manage for low prices
Photo by Duane Daws
Amplats CEO Chris Griffith

Diamonds bring new life to war-torn Central African Republic

By: Bloomberg     Updated 7 hours ago Rough diamonds enabled Abdoul Raouf to marry three women and put his nine children through school. Now that his town in western Central African Republic can legally export the gems to world markets again, his neighbors are expecting similar fortunes. “Diamonds are my life,” said Raouf, who trades... 

Botswana invites bids for coal-to-liquids project

By: Martin Creamer     24th July 2017 The Botswana government is seeking prospective bidders for the establishment of a coal-to-liquids plant in the Southern African county, with support from its State-owned oil company, Botswana Oil. Botswana Oil, which manages State-owned strategic fuel reserve facilities, says in a... 

Botswana invites bids for coal-to-liquids project
Photo by Creamer Media
Mineral Resources, Green Technology and Energy Security Minister Sadique Kebonang at Botswana Resource Sector Conference in June

Trump America-first pipeline plan draws ire of American oil

By: Bloomberg     21st July 2017 Donald Trump’s allies in the oil industry are warning the president that his bid to boost US steelmakers could backfire against their efforts to achieve his goal of "American energy dominance." The intense lobbying effort comes as the Commerce Department faces a Sunday deadline to give the... 

Glencore to invest $21m in Brazil's copper producer Paranapanema

By: Reuters     21st July 2017 Glencore has signed an agreement to invest up to 66-million reais ($21-million) into Brazilian copper producer Paranapanema, the Brazilian firm said in a securities filing. Paranapanema said the cash injection will give Glencore the right to appoint one board member and that the agreement is... 

NexGen closes $110m financing, appoints new board member

By: Henry Lazenby     21st July 2017 Uranium explorer NexGen Energy has successfully closed a $110-million financing with Hong Kong-based CEF Holdings (CEF) and affiliates of its shareholders, comprising $50-million in common shares and a $60-million principal amount of unsecured convertible debentures.  Under the terms of the... 

Atlantic Gold updates Fifteen Mile Stream, Cochrane Hill resource estimates

By: Henry Lazenby     21st July 2017 TSX-V-listed Atlantic Gold has updated the compliant mineral resource estimates for its 100%-owned Fifteen Mile Stream and Cochrane Hill gold deposits, Nova Scotia. The company has in June completed resource definition drilling programmes on 25 m x 20 m centres with the objective of upgrading... 

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