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Atlas Iron responds to changing market with accelerated cost-savings plan

By: Esmarie Swanepoel Iron-ore miner Atlas Iron on Thursday said its expected its cost savings for 2015 to be higher than previously thought, as the company’s cash-cost initiatives surged during the three months to September. Atlas on Thursday told shareholders that all-in costs for the September quarter had reached... 

Atlas Iron responds to changing market with accelerated cost-savings plan

Elemental halves Congo capex in refigured project plan

By: Esmarie Swanepoel     Updated 7 hours ago Potash developer Elemental Minerals on Thursday announced a new capital estimate of $908-million for the development of its Sintoukola sylvinite (Kola) project, in the Republic of Congo. This compares with an initial capital estimate of $1.85-billion in the 2012 prefeasiblity study (PFS), which... 

Govt-ordered Ranger mine spill report published

By: Esmarie Swanepoel The federal and Northern Territory governments have released the findings of an independent expert report into the leach tank failure at uranium miner Energy Resources of Australia (ERA’s) Ranger mine, in the Northern Territory. The government-ordered independent report, released this week, has... 

With five projects in its fold, Northern Star output surges

By: Esmarie Swanepoel     Updated 7 hours ago Gold miner Northern Star Resources has continued the trend of record quarterly production, as production surged following the incorporation of its five projects. During the three months to September, Northern Star recovered 147 884 oz of gold, compared with the 114 780 oz recovered in the... 

Rio extends Walsh's contract

By: Esmarie Swanepoel The CEO of mining giant Rio Tinto, Sam Walsh, would remain at the company’s helm for the foreseeable future after the company’s board extended his tenure. Rio CFO Chris Lynch also had his tenure extended. 

Beadell looks at contract mining for Tucano

By: Esmarie Swanepoel ASX-listed gold miner Beadell Resources has signed a letter of intent (LOI) with fellow listed mining contracter Maca over the management of mining operations at the Tucano gold mine, in Brazil. Beadell’s existing mobile fleet and equipment would progressively be transferred to Maca under a... 

Cape Lambert granted mining licence at Marampa

By: Esmarie Swanepoel ASX-listed Cape Lambert on Thursday announced that it had been granted a mining licence for its own Marampa iron-ore project, in Sierra Leone. “I am delighted that the Ministry of Mineral Resources has finally approved the grant of Marampa’s mining licence so that we can get on with the process... 

Maules Creek to rail ahead of schedule

By: Esmarie Swanepoel First coal from the Maules Creek operation, in New South Wales, was expected to be railed in January next year, more than two months ahead of schedule, owner Whitehaven Coal reported on Thursday. The ASX-listed miner said that the acceleration of the first coal railing was owing to the strong... 

Newcrest advances Cadia East

By: Esmarie Swanepoel Gold miner Newcrest Mining would now shift its development focus at the Cadia East operation to the propagation of Panel Cave 2, following the safe propagation of Panel Cave 1 this week. “Newcrest has developed world-class expertise in bulk underground mining techniques gained from the... 

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BHP reports record production, says no major projects under way

By: Esmarie Swanepoel Mining giant BHP Billiton has reported record production across four commodities and eight operations during the quarter ended September, including from its Pilbara iron-ore operations. Iron-ore production for the three months under review increased by 1% on the previous quarter, and 17% on the... 

BHP reports record production, says no major projects under way
Photo by Bloomberg
BHP CEO Andrew Mackenzie

Australian horse breeders halt Anglo American coal expansion plans

By: Esmarie Swanepoel The New South Wales Planning Assessment Commission (PAC) has refused diversified major Anglo American’s application to develop the Drayton South mine, claiming it would negatively affect the Coolmore and Dudley horse breeding studs. The Drayton mine has been in operation since 1983 and produces... 

Australian horse breeders halt Anglo American coal expansion plans

Miners need sustainable solutions to productivity problem – EY

By: Esmarie Swanepoel A report by advisory firm Ernst & Young (EY) has indicated that cost cutting would only lead to short-term productivity gains for mining companies with complex operations and that sustainable long-term solutions were needed. In its new report, ‘Productivity in mining: now comes the hard part’,... 

Miners need sustainable solutions to productivity problem – EY

Creamer Media publishes Defence 2014: A review of South Africa's defence industry research report

Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand strategic defence procurement... 

Creamer Media publishes Defence 2014: A review of South Africa's defence industry research report

Major iron-ore expansions in current market ‘foolish’ – Fortescue CEO

By: Esmarie Swanepoel The CEO of iron-ore major Fortescue Metals, Nev Power, on Friday questioned the major investments in iron-ore in expansion projects while the prices remain low. “There is no point continuing to expand just because you are a dollar cheaper than the guy next door to you. What we should be looking... 

Major iron-ore expansions in current market ‘foolish’ – Fortescue CEO
Photo by Bloomberg
Fortescue CEO Nev Power

Creamer Media publishes African Mining Roundup for October 2014 research report

This month’s report includes details of Toronto-listed Tsodilo Resources’ large inferred mineral resource in Block 1 of its flagship Xaudum iron project, in Botswana; the opening of London-listed diamond mining company Gem Diamonds’ Ghaghoo diamond mine, in Botswana; and LSE-listed Petra... 

Creamer Media publishes African Mining Roundup for October 2014 research report

Foster Wheeler completes acquisition of MDM Engineering

By: Leandi Kolver     Updated 57 minutes ago Global engineering and construction company Foster Wheeler on Thursday announced that an indirect wholly owned subsidiary of the company had completed its acquisition of metallurgical engineering company MDM Engineering. MDM would now become part of Foster Wheeler’s minerals and metals group. 

ABG Q3 production up 16%, AISC continues decline

By: Leandi Kolver     Updated 59 minutes ago Tanzania-focused gold producer African Barrick Gold (ABG) increased its production for the three months ended September 30, by 16% year-on-year, while all-in sustaining costs (AISC) declined for the eight successive quarter. ABG CEO Brad Gordon said the company’s production amounted to 190 986 oz... 

AMCU members down tools at Lace mine

By: Natasha Odendaal     Updated 1 hour 36 minutes ago Workers at DiamondCorp’s Lace mine, in the Free State, downed tools on Thursday in an Association of Mineworkers and Construction Union- (AMCU-) led protest against the Aim-listed company’s refusal to employ two full-time salaried shop stewards. DiamondCorp said in an update to shareholders that... 

AMCU members down tools at Lace mine
Lace mine

Rise in Q2 hedging volumes not indicator of trend

By: Natasha Odendaal     Updated 1 hour 55 minutes ago The significant jump in the volume of hedging activities during the second quarter of the year was not an indication of a secular shift in producer sentiment to hedge gold production, Societe Generale and Thomson Reuters GFMS said this week. The duo’s second-quarter Global Gold Hedge Book... 

Zuma says govt seriously mulling Operation Phakisa for mining sector

By: Leandi Kolver     Updated 2 hours 9 minutes ago President Jacob Zuma on Thursday reiterated that government was seriously considering a mining-focused Operation Phakisa phase. Minister in the Presidency Jeff Radebe earlier this year, at the Mining Lekgotla, noted that an Operation Phakisa for the mining sector was on its way, with... 

Zuma says govt seriously mulling Operation Phakisa for mining sector
Photo by Duane Daws
President Jacob Zuma

Northam Platinum’s funded R6.6bn BEE deal

By: Creamer Media Reporter      Updated 2 hours 50 minutes ago Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about Northam Platinum’s fully funded R6.6-billion black economic-empowerment deal. 

Northam Platinum’s funded R6.6bn BEE deal

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo

By: Martin Creamer     Updated 5 hours ago Diversified mining company Anglo American on Thursday reported 12% lower coal production for South Africa’s State electricity utility Eskom, 31% less refined platinum production, 4% lower iron-ore exports and fewer diamond carats from South African diamond mines, in the three months to September... 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo
Photo by Duane Daws
Anglo CEO Mark Cutifani

South Africa's main coal terminal stops releasing export data

By: Reuters     Updated 6 hours ago South Africa's Richards Bay Coal Terminal (RBCT), the largest in the world, has stopped publishing monthly operational updates detailing shipments of coal because it is "competitive information", its chief executive said on Thursday. "This information is commercial, it's a competitive... 

South Africa's main coal terminal stops releasing export data
Photo by Leandi Kolver
Richard Bay Coal Terminal

Kumba Q3 output up 37% y/y

By: Creamer Media Reporter      Updated 6 hours ago Kumba Iron Ore lifted its output by 37% year-on-year and 13% quarter-on-quarter to 13-million tonnes in the quarter ended September 30. The Sishen mine produced 9.3-million tonnes of iron-ore in the quarter – up 44% on that produced in the third quarter of 2013 and 11% higher than that produced... 

Amplats lifts FY output guidance on lower Q3 post-strike ramp-up losses

By: Creamer Media Reporter The post-strike ramp-up in production at Anglo American Platinum’s (Amplats’) Rustenburg, Union and Amandelbult mines was completed a month ahead of schedule, with normal output having resumed by September. In its third-quarter production report, released on Thursday, the platinum miner noted... 

Randgold CEO warns against tax hike in new Congo mining code

By: Reuters The Democratic Republic of Congo’s (DRC's) focus on maximising short-term tax revenues risks squandering long-term mining prospects, the chief executive of one of its largest mining investors warned on Wednesday. Speaking at a mining conference in Kinshasa, Mark Bristow, the CEO of gold miner... 

Resources Watch

By: Creamer Media Reporter R50m virtual reality centre set to revolutionise mine design. Rockwell reports costs down, revenue up. Juniors face uphill battle to generate their own funds. 

Resources Watch

BC introduces new two-tier tax on income from LNG facilities

By: Henry Lazenby The province of British Columbia this week introduced its much-anticipated legislation for a new two-tier tax on net income from liquefied natural gas (LNG) facilities. The legislation, which was originally announced in the provincial budget in February, introduced a two-tier income tax that... 

BC introduces new two-tier tax on income from LNG facilities

MBAC stock surges on loan maturity extensions, liquidity update

By: Henry Lazenby The TSX-listed stock of Brazil-focused fertiliser producer MBAC Fertilizer on Wednesday jumped by as much as 157%, or C$0.11, after the struggling company reported that it had signed final agreements with its senior lenders to extend the maturity of its loans and defer related interest and... 

Nautilus Minerals steps closer to releasing PNG funding

By: Henry Lazenby Prospective seafloor miner Nautilus Minerals has satisfied one of the conditions precedent to releasing $113-million, which its project partner – the Papua New Guinea government – had paid into escrow in May, representing the balance of the State’s 15% share of capital required to complete the... 

Quebec govt and miners to undertake Labrador Trough rail feasibility

By: Henry Lazenby The Quebec government has formed a partnership with mining companies Champion Iron and Lac Otelnuk Mining to undertake a feasibility study for the construction of a multi-user railway, linking the port of Sept-Îles with the Labrador Trough, a 1 600-km-long geological belt rich in iron-ore... 

Lucara’s exceptional diamond tenders rake in $136m in 2014

By: Henry Lazenby Southern Africa-focused miner Lucara Diamond Corp this week reported that exceptional stone tenders had this year accounted for $136-million, reflecting a strong diamond market and robust demand for large precious gems from the company’s flagship Karowe mine, in Botswana. The TSX- and... 

Lucara’s exceptional diamond tenders rake in $136m in 2014

Fortress Minerals to buy stalled Ecuador project for $240m from Kinross

By: Henry Lazenby TSX-V-listed Fortress Minerals has agreed to buy the stalled Fruta del Norte (FDN) gold/silver project, in Ecuador, for $240-million in cash and scrip from TSX- and NYSE-listed Kinross Gold. Kinross last year booked a $720-million charge related to the discontinued FDN. Kinross shelved the... 

Fortress Minerals to buy stalled Ecuador project for $240m from Kinross

Nordgold Q3 production up 11% y/y, company on track to achieve upper end of full-year guidance

By: Leandi Kolver LSE-listed Nordgold on Wednesday reported a 11% year-on-year, and 2% quarter-on-quarter increase in production for the three months ended September 30, to 270 600 gold equivalent ounces. The company also noted that, for the nine months ended September 30, production had reached 746 900 oz, a 13%... 

Waterberg JV PFS on track

By: Leandi Kolver The prefeasibility study (PFS) for TSX- and NYSE-listed Platinum Group Metals’ (PTM’s) Waterberg Joint Venture (JV) project on the northern limb of the Bushveld Complex is on track, with completion targeted for the second quarter of next year, PTM said on Wednesday. The company noted that an... 

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