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Olympic Dam mine, Australia

By: Sheila Barradas     27th May 2016 A copper and uranium mine located 560 km north-west of Adelaide, in South Australia. 

Teck prices $1.25bn of senior notes

By: Henry Lazenby     26th May 2016 Canadian diversified miner Teck Resources has announced the pricing of an offering of $1.25-billion in senior unsecured notes, comprising $650-million of five-year notes and $600-million of eight-year notes. The Vancouver, British Columbia-headquartered company advised that the notes would be... 

Continually flipped Moz gold project goes for $17.5m

By: Martin Creamer     26th May 2016 The Manica gold project in Mozambique, which has been bought and sold several times in recent years, is being disposed of once more. On two occasions the disposals have been conducted under the same management head – Jan Nelson, who announced on Thursday that his London Aim-listed Xtract had... 

Continually flipped Moz gold project goes for $17.5m
Photo by Duane Daws
Xtract CEO Jan Nelson

Mining in hard times: small teams and big trucks for BHP's Olympic Dam

By: Reuters     26th May 2016 A vast copper and uranium lode in Australia's parched outback, global miner BHP Billiton's Olympic Dam was long emblematic of the industry's boom year projects: complex, ambitious and - until 2012 - slated for a $20-billion expansion. Like its rivals, BHP is still betting on copper, and the ore... 

Surge in Chinese zinc output could shrink forecast global deficit

By: Reuters     26th May 2016 Chinese zinc miners and smelters cranked up output in March after prices rallied, raising questions over the market's bullish scenario by potentially delaying global shortages. Zinc has been the darling of the base metals market and the best performer this year, with many investors piling in to... 

Hillgrove cuts salaries to navigate cash flow constraints

By: Mariaan Webb     26th May 2016 The board, CEO, MD and employees of copper/gold miner Hillgrove Resources have agreed to salary reductions to help the company overcome cashflow constraints, chairperson Dean Brown reported on Thursday. In an address delivered at Hillgrove’s annual general meeting, he reported to shareholders... 

Workers at Toromocho copper mine in Peru plan strike May 31

By: Reuters     26th May 2016 Workers at Chinalco Mining Corp International's copper mine Toromocho in Peru are planning a four-day strike on Tuesday to press for the reinstatement of a quarterly bonus tied to company results, the union said on Wednesday. 

Kincora consolidates key Mongolian land-holdings with ‘mega’ potential

By: Henry Lazenby     26th May 2016 Bolstered by the recent restart of Rio Tinto’s multibillion-dollar Oyu Tolgoi Phase 2 in the copper belt, TSX-V-listed explorer Kincora Copper on Wednesday advised that it had reached an agreement with privately owned explorer High Power Exploration (HPX) to merge two Kincora subsidiaries with... 

Explorer Altair secures 700 ha property next to HudBay’s Constancia mine in Peru

By: Henry Lazenby     26th May 2016 Canadian explorer Altair Gold has signed a binding letter of intent with a third party to acquire Epic Mining, which owns 99% of Panamericana, the 100% holder of the rights, title and interest in the 900 ha Lejin mineral property, in southern Peru. Altair advised that 700 ha of the Leijin... 

Vale to delist from Hong Kong exchange

By: Henry Lazenby     25th May 2016 Brazilian diversified mining major Vale has delisted from the Hong Kong stock exchange (HKEx) as part of the company’s simplification strategy. In a press release issued Tuesday, the Rio de Janeiro-based miner announced that the HKEx had approved the withdrawal of Vale´s HDRs – an informal name... 

New acid mine water process has huge agri potential in arid areas  

By: Martin Creamer     25th May 2016 The newly developed process that yields handsome profits by converting acid mine water into valuable fertiliser materials, also has the potential to process South Africa’s large volumes of currently unusable brackish groundwater. The use of the process that eradicates acid mine drainage (AMD) for... 

New acid mine water process has huge agri potential in arid areas
Photo by Duane Daws
Trailblazer Technolgies director John Bewsey

Higher commodity prices support 26% rise in Q1 Canadian Mining Eye index

     25th May 2016 Higher commodity prices have contributed to a 26% rise in EY’s Canadian Mining Eye index for the first quarter of this year. “Improved gold and base metals prices appeared to generate much-needed positive momentum in the sector. The strong growth of Canadian mining equities also indicates... 

Higher commodity prices support 26% rise in Q1 Canadian Mining Eye index

Freeport staff to oversee transition at Tenke copper mine in Congo

By: Reuters     25th May 2016 The Chinese company buying Freeport McMoRan Inc's majority stake in the Tenke copper mine has told the Congolese government that Freeport staff will oversee the operation for a transitional period of 12 to 18 months, an adviser to the prime minister said on Tuesday. A delegation from China... 

Indonesia renews Newmont Mining's copper export licence for six months

By: Reuters     24th May 2016 Indonesia's mining ministry recommended renewing the export licence for the local unit of US copper and gold miner Newmont Mining Corp to export copper concentrate for the next six months, a ministry official said on Tuesday. Newmont, Indonesia's second-biggest copper miner, will be allowed to... 

Workers at BHP Billiton's Spence mine in Chile go on 24-hr strike

By: Reuters     23rd May 2016 Workers at BHP Billiton's Spence mine in northern Chile went on a 24-strike on Monday due to a contractual dispute, a union official told Reuters. Workers there previously went on a 24-hour strike earlier in May, as the union demanded improvements in labour conditions and to protest alleged... 

India’s Hindustan Copper reduces capex to $59m

By: Ajoy K Das     23rd May 2016 India’s sole State-owned integrated copper producer Hindustan Copper Limited (HCL) has lowered its capital expenditure (capex) for the current financial year, owing to delayed clearances for reopening and expanding three of its captive copper mines. Data sourced from the government showed that... 

Mining licence fees now SMS-enabled in forward-striding Tanzania

By: Martin Creamer     20th May 2016 The Tanzanian online mining cadastre system now allows licence holders to request the total licence fees they owe via short message service (SMS). The addition of SMS extends the range of payment functionality that the Ministry of Energy and Minerals offers to its customers, the FlexiCadastre... 

Mining licence fees now SMS-enabled in forward-striding Tanzania
Tanzanian president John Magufuli

New MD for CuDeco

By: Creamer Media Reporter      20th May 2016 ASX-listed CuDeco has appointed a new MD as it makes the final push towards the start of production at its flagship Rocklands Group copper project, near Cloncurry in Queensland. Mining executive Dr Dianmin Chen would take up the role of MD, with 13-year company veteran Peter Hutchison moving to... 

Alternative fundraising model seen flourishing but regulatory issues could stifle uptake in South Africa

By: Mia Breytenbach     20th May 2016 The mining industry is facing increasing risk averseness from equity and debt investors, owing to testing circumstances in the depressed global market, particularly with regard to falling commodity prices, slower economic growth in China and reduced mining production. Owing to traditional funding... 

Alternative fundraising model seen flourishing  but regulatory issues could stifle uptake in South Africa

Too costly to shut: Mine sales stumble on looming clean-ups

By: Reuters     19th May 2016 Major miners are trying to avoid hundreds of millions of dollars in closure costs by selling off pits, as cash is tight due to a prolonged commodities price slump, but the crippling cost of environmental rehabilitation makes it tough to seal deals. Where mine sales have gone ahead, production is... 

Too costly to shut: Mine sales stumble on looming clean-ups
BHP Billiton held on to its loss-making Nickel West operation after failing to find a buyer. The business is estimated to have $1-billion in closure liabilities.

Ivanhoe starts 25 000 m drill campaign to test new discovery at Kamoa

By: Henry Lazenby     19th May 2016 Project developer Ivanhoe Mines has deployed up to nine drills to undertake a 25 000 m drilling campaign on the Kakula discovery on the Kamoa copper mining licence area, in the Democratic Republic of Congo – a project billed as the largest undeveloped high-grade copper deposit in the world. The... 

Ivanhoe slams NGO misinformation on flagship Platreef PGM project

By: Henry Lazenby     19th May 2016 Africa-focused project developer Ivanhoe Mines on Thursday condemned “in the strongest terms possible” a statement issued late Wednesday by nongovernmental organisation (NGO) Mining Watch Canada, alleging that its subsidiary Ivanplats was engaged in human rights abuses and illegal operations as... 

PanAust sees costs of PNG copper/gold mine doubling to $3.6bn

By: Mariaan Webb     19th May 2016 The cost estimate of the Frieda River mine, in Papua New Guinea, has more than doubled to $3.6-billion, from an earlier estimate of $1.7-billion, China-owned PanAust reported on Thursday. The company published a feasibility study for the project, which contemplated a large-scale, openpit mining... 

PanAust sees costs of PNG copper/gold mine doubling to $3.6bn
Molten copper pours into an anode casting wheel.

Peru's Fujimori takes tough stance on Southern Copper Tia Maria project

By: Reuters     19th May 2016 Peruvian presidential contender Keiko Fujimori said it would take "many years" for Southern Copper to regain the trust of farmers, which she said is part of the community support she considers critical to developing the company's $1.4-billion Tia Maria copper project. The centre-right candidate... 

Chile economy grows 1.3% in Q1, slightly above forecast

By: Reuters     18th May 2016 Chile's gross domestic product grew by 1.3% in the first quarter from the last quarter of 2015, the central bank said on Wednesday, boosted by rising exports. 

Antofagasta signs community deal in Chile, ending mine legal battle

By: Reuters     18th May 2016 Chilean copper miner Antofagasta said on Wednesday it signed an agreement with a local community that has long opposed the tailings dam at its Los Pelambres flagship mine, ending protests and a legal battle that sought to have the dam demolished. Residents of the small town of Caimanes in... 

Impala Platinum CEO to step down

By: Martin Creamer     18th May 2016 Impala Platinum (Implats) on Wednesday announced that its CEO, Terence Goodlace, would step down on December 1. Goodlace, 57, who began as a R200-a-month learner miner, has been with the platinum-group metals mining, processing, refining and marketing company for six years. 

Impala Platinum CEO to step down
Photo by Duane Daws
Implats CEO Terence Goodlace

Australia miners ‘missing in action’ in Colombia

By: Samantha Herbst     18th May 2016 Australia’s resource houses are “missing in action” in Colombia, Latin America’s third-largest economic powerhouse, and need to move quickly to increase their engagement with the mineral-rich State, said Colombian Mining Association president Santiago Angel Urdinola. Addressing the Paydirt 2016... 

Court appoints special liquidators to investigate Queensland Nickel

By: Mariaan Webb     18th May 2016 The Federal Court on Wednesday appointed special purpose liquidators to investigate transactions related to mining magnate and politician Clive Palmer’s Queensland Nickel, granting an application by the federal government. Queensland Nickel administrator FTI Consulting said it would work closely... 

Court appoints special liquidators to investigate Queensland Nickel
Queensland Nickel's Clive Palmer

Zambia's chamber of mines defends new price-based mineral tax

By: Reuters     18th May 2016 Zambia's new price-based mineral royalty tax will enhance the collection of government revenue rather than compromise it, the Chamber of Mines said on Tuesday, defending the new levy after recent criticism. The chamber's president Nathan Chishimba was reacting to a statement by civil society... 

Operations resume at Premier’s RHA tungsten project

By: Anine Kilian     17th May 2016 Aim-listed Premier African Minerals has re-equipped the 120-m vertical shaft at its RHA tungsten project, in Zimbabwe, and expects to return to operations this week. Premier reported on Tuesday that mining equipment and minerals processing specialist Appropriate Process Technologies (APT) would... 

Lorimer decries mining’s production crash, job losses

By: Martin Creamer     17th May 2016 Mineral Resources Shadow Minister James Lorimer MP on Tuesday decried the sharply reduced output of South Africa’s once-colossal mining industry and warned that mining's “jobs bloodbath” had only just begun. State statistics compiler StatsSA reported earlier this month that South Africa’s... 

Lorimer decries mining’s production crash, job losses
Shadow Minerals Minister James Lorimer

Miners adapting to more austere fundamental backdrop – report

By: Henry Lazenby     17th May 2016 Mining companies, in general, are adapting to a more austere fundamental backdrop, despite a recent announcement in Chinese media that the country would be removing stimulus and reprioritising reforms, which caused significant apprehension during Bank of America Merrill Lynch’s (BofAML’s) recent... 

Miners adapting to more austere fundamental backdrop – report

Alecto raises capital to bring Zambia gold mine on stream

By: Anine Kilian     17th May 2016 Africa-focused gold and base metals exploration company Alecto Minerals has raised £665 000 through a share placement to provide the company with additional working capital to bring the 400 000 t/y openpit Matala gold project, in south-central Zambia, into low-cost production.  The company issued... 

Palmer seeks A$1.2bn from Qld Nickel administrators

By: Esmarie Swanepoel     17th May 2016 Mining personality Clive Palmer on Tuesday announced that he was seeking A$1.2-billion in damages from the administrators of Queensland Nickel, alleging “illegal diversion” of the company’s funds and assets. The creditors of Queensland Nickel last month voted in support of a recommendation by... 

Antofagasta suffers setback on Chile investment plan approval

By: Reuters     16th May 2016 Chilean copper miner Antofagasta has suffered a setback as it seeks environmental permit approval for new investment at its Los Pelambres mine, in central Chile, but hopes to resolve the issue in coming days. Earlier this month, the London-listed company's operating unit, Antofagasta Minerals,... 

Taseko appoints mining veteran Geoffrey Burns to board

By: Henry Lazenby     16th May 2016 TSX- and NYSE MKT-listed base metals miner Taseko Mines has appointed industry veteran Geoffrey Burns as an independent nonexecutive director. Burns brought to Taseko more than thirty years of senior management experience in the mining industry. 

In wake of defending against dissident shareholder, Taseko reports wider Q1 loss

By: Henry Lazenby     14th May 2016 After enduring a rollercoaster first quarter in which a dissenting shareholder launched a scathing proxy contest against which base metals miner Taseko Mines had successfully defended itself, the company this week reported a wider adjusted loss than expected. Excluding special items, Taseko... 

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