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EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

By: Henry Lazenby Global professional services firm EY’s Canadian Mining Eye index fell 12% in the quarter ended December 31, compared with a 15% decline in the prior period. The index underperformed against the S&P/TSX Composite index, which fell 2% in the last quarter of 2014, while the London Metal Exchange... 

Bauba’s chrome play clears last regulatory hurdle

By: Natalie Greve The Department Water and Sanitation has granted Bauba Platinum subsidiary, Bauba A Hlabirwa Mining Investments, a general authorisation of water use for the farm Moeijelijk, in Limpopo, fulfilling the last legislative condition required before the start of full-scale mining. The authorisation... 

IFM swings to H1 loss

By: Ilan Solomons Interruptions in production, lower sales volumes, higher production costs and one-off items impacted negatively on International Ferro Metals’ (IFM’s) results for the six months ended December 31, resulting in a net loss of R175.6-million, compared with a net profit of R32.3-million in the prior... 

IFM swings to H1 loss

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Parliamentary minerals law review limited to four points

By: Martin Creamer The review of the Minerals and Petroleum Resources Development Act (MPRDA) Amendment Bill would be restricted to four recommendations and the focus would be on whether or not these passed constitutional and procedural muster, Mineral Resources Parliamentary Portfolio Committee chairperson... 

Parliamentary minerals law review limited to four points
Photo by Duane Daws
Ngoako Ramatlhodi

Mines are development engines for host countries – ICMM

By: Martin Creamer Mines are proven engines of economic development for host countries, which benefit significantly from the foreign direct investment (FDI) that mines attract as well as the export earnings that they generate, the International Council for Mining & Metals (ICMM) has found in a unique 214-country... 

Mines are development engines for host countries – ICMM
Photo by Creamer Media
Martin Creamer and Tony Hodge

Opposition calls on President to back Minister on developmental pricing issue

By: Martin Creamer Amidst apparent disagreement in his Cabinet about mining policy, President Jacob Zuma needed to step in and provide leadership so that potential mining investors had certainty about South Africa’s mining policy, Shadow Democratic Alliance (DA) Mineral Resources Minister James Lorimer has urged in... 

Opposition calls on President to back Minister on developmental pricing issue
Photo by DA.org.za
James Lorimer

Good governments assume lower commodity prices  

By: Martin Creamer The governments of resource-rich countries should base their financial planning on commodity prices that are lower than the year prior. Should actual commodity prices eventuate that are higher than those assumed, the additional revenue from the higher prices should be treated as a bonus and spent... 

Good governments assume lower commodity prices
Photo by Bloomberg
Jim O'Neill

Depreciation, restructuring costs to dent Merafe's FY earnings

By: Natalie Greve JSE-listed Merafe Resources expects its headline earnings a share for the year ended December 31 to drop by between 19% and 26% year-on-year to between 8c and 8.8c. The decrease in earnings was primarily attributable to the accelerated depreciation arising from the scrapping of certain assets, as... 

Merafe lifts FY, Q4 ferrochrome output

By: Natalie Greve Merafe Resources has lifted attributable ferrochrome production from the Glencore-Merafe chrome venture by 3% year-on-year to 92 000 t in the quarter ended December 31. The company said in a report on Friday that the improved output was the result of the start-up of Project Lion II, which was... 

RoF access route land squabble headed to Court of Appeal

By: Henry Lazenby Prospective Ring of Fire (RoF) miners KWG Resources and Cliffs Natural Resources have been given the green light to take their quarrel over the right of way over an isthmus, narrow strip of land, connecting the remote Northern Ontario mining camp with the outside world to the Court of Appeal for... 

Mining companies suffer $70bn in impairment losses – report

A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that... 

Mining companies suffer $70bn in impairment losses – report

Investors to blame for supporting dithering juniors

By: Henry Lazenby In the aftermath of several key mining-related indexes having dropped significantly since 2011, the mining industry as a whole, and particularly the junior explorers and project generators, have had to “reset” and undergo a paradigm shift from being project promoters to true value creators. This... 

KWG on track to secure N American patents for novel chromite reduction process

By: Henry Lazenby Chromite explorer KWG Resources has received an international search report confirming that the company’s application to patent a new process for the direct reduction of chromite using natural gas, a carbon reductant and a catalyst formulation, is original. The search report from the US Patent... 

Benchmark ferrochrome price settled 6% lower

By: Martin Creamer The European benchmark price of ferrochrome has been settled 6% lower for the first quarter of this year. The first-quarter price of $1.08/lb is seven cents a pound lower than the current $1.15/lb price of the fourth quarter of 2014, the JSE-listed Merafe Resources has announced. 

Benchmark ferrochrome price settled 6% lower
Photo by Duane Daws
Ferrochrome production at Glencore-Merafe's Lion smelter

Chrome, platinum prices likely to recover in 2015 – Tharisa

By: Martin Creamer The price of chrome concentrate and the basket price of platinum group metals should recover in 2015, which could mean fourth-quarter profit for the JSE-listed Tharisa Minerals should it achieve its number-one priority of steady state production. Tharisa CEO Phoevos Pouroulis told Mining Weekly... 

Chrome, platinum prices likely to recover in 2015 – Tharisa
Phoevos Pouroulis

Waning investor confidence, weak commodity prices among factors limiting growth of African mining sector 

By: Jade Davenport Along with the Arctic, sub-Saharan Africa remains the most underexplored and highly prospective mineralised region on earth. However, despite its ‘open for business’ approach and myriad investment opportunities – in terms of greenfield and brownfield projects across the commodity spectrum –... 

Waning investor confidence, weak commodity prices  among factors limiting growth of African mining sector

Capital misallocation lowering commodity prices – Glencore

By: Martin Creamer Capital misallocation, not a lack of demand, remained the key factor in the current low level of several commodity prices, Glencore CEO Ivan Glasenberg said on Wednesday. Highlighting the need to differentiate by commodity in allocating capital, Glasenberg said at the company’s investor day in... 

Capital misallocation lowering commodity prices – Glencore
Photo by Duane Daws
Ivan Glasenberg

Jubilee revenue increase illustrates success of Middelburg smelter renewal – CEO

By: Tracy Hancock The growth in mine-to-metals company Jubilee Platinum’s revenue in rands for the year ended June 30 compared with the previous reporting period illustrates the successful implementation of the Mpumalanga-based Middelburg smelter renewal and expansion programme concluded in the last quarter of the... 

Competition Commission recommends approval of Anglo American, Samancor transaction

By: Leandi Kolver The Competition Commission on Thursday recommended the approval of the merger that would see mining major Anglo American gain joint control over Samancor, without conditions. Anglo American already held a 40% stake in Samancor, with mining company BHP Billiton holding the remainder; however, BHP... 

IFM Section 54 notice lifted, 4 000 t of production lost

By: Leandi Kolver International Ferro Metals (IFM) on Wednesday announced that the Section 54 notice for its two ferrochrome furnaces and pelletiser has successfully been lifted following a meeting with the Department of Mineral Resources. The Section 54 notice had been issued last week following a health and... 

IFM to appear in court in relation to Section 54 notice

By: Leandi Kolver International Ferro Metals (IFM) would on Monday appear in court in relation to a claim by the Department of Mineral Resources (DMR) that the ferrochrome producer had not met all the requirements of a Section 54 notice issued to it last week. IFM said it had suspended production at its two... 

Jubilee gains full control of Pollux, starts trial processing of platinum-containing material

By: Creamer Media Reporter Dual-listed Jubilee Platinum has entered into a deal that will see it take full ownership of subsidiary company Pollux, which holds the platinum group metal (PGM) processing rights to the Dilokong chromite mine (DCM) platinum recovery project, in Limpopo. Jubilee would acquire Emerald Panther... 

Ferrochrome smelter’s slashed power use opens way for major value-adding boost

By: Martin Creamer STEELPOORT, Mpumalanga – The Lion ferrochrome smelter owned and operated by the Glencore Merafe Chrome Venture, uses 37% less electricity than conventional ferrochrome processes to produce the equivalent volume of ferrochrome. In addition, the smelter needs far less coke than conventional... 

Ferrochrome smelter’s slashed power use opens way for major  value-adding boost

Largo Resources receives formal operating licence for Brazil flagship

By: Henry Lazenby TSX-listed Largo Resources has received a formal operating licence for its flagship Maracas Menchen vanadium mine, in Brazil. The company said on Tuesday that it had been operating on a preliminary operating licence, which it received in May that allowed it to start the production ramp-up and to... 

Afarak lifts Q3 revenue despite narrowed output

By: Natalie Greve Chrome producer Afarak has lifted revenue for the third quarter, ended September 30, by 32.1% to €40.6-million, largely on the back of a 131.9% increase in processed materials sold to 26 347 t. However, the Finland-based company, formerly known as Ruukki Group Oyj, posted a 28.3% drop in earnings... 

Afarak lifts Q3 revenue despite narrowed output
Mogale Alloys

Worker killed in accident at Tharisa mine processing plant

By: Creamer Media Reporter An employee was killed in an accident at the Voyager processing plant at the Tharisa platinum-group metals and chrome mine, on the western limb of the Bushveld Igneous Complex, on Wednesday. The accident occurred during routine maintenance and all operations at the Genesis and Voyager plants had... 

Technology slashes power use at Glencore's huge S African chrome smelter 

By: Martin Creamer The Lion ferrochrome smelter owned and operated by the Glencore Merafe Chrome Venture, uses 37% less electricity than conventional ferrochrome processes to produce the equivalent volume of ferrochrome. In addition, the smelter needs far less coke than conventional smelters as well as using... 

Technology slashes power use at Glencore's huge S African chrome smelter
Photo by Duane Daws
Lion's Andre van Zyl and Martin Creamer

Glencore's Q3 ferrochrome, coal, oil, copper production up

By: Martin Creamer The South Africa-centred ferrochrome production of diversified miner Glencore lifted in the third quarter, as did its global coal, oil and copper production. The London-, Hong Kong- and now also Johannesburg-listed global mining and marketing company, headed by CEO Ivan Glasenberg, said that its... 

Glencore's Q3 ferrochrome, coal, oil, copper production up
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

IFM Q1 production down 16% owing to planned maintenance

By: Leandi Kolver London-listed International Ferro Metals (IFM) on Monday reported a 16% quarter-on-quarter drop in ferrochrome production for the three months ended September 30, as a result of planned yearly maintenance. Production for the quarter amounted to 48 216 t, with sales of 48 183 t in line with... 

300 a year doing mechanised mining courses at Wits centre

By: Martin Creamer Three hundred people a year are doing courses in mechanised mining offered by the University of the Witwatersrand Centre for Mechanised Mining Systems (CMMS). CMMS director Dr Declan Vogt, who was interviewed by Mining Weekly Online at the university, sees one of the centre’s main roles as... 

300 a year doing mechanised mining courses at Wits centre
Photo by Duane Daws
CMMS director Declan Vogt
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