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Diversified Miners News

Greece shortlists Glencore, Vitol in Hellenic Petroleum majority stake sale

By: Reuters     18th July 2018 Greece has shortlisted Anglo-Swiss Glencore and Swiss Vitol to submit a binding bid for a majority stake in the country's biggest oil refiner Hellenic Petroleum, its privatisation agency said on Wednesday. Athens last month received five expressions of interest for a 50.1% stake that Greece and... 

BHP beats production expectations; warns of $650m Samarco charge

By: Esmarie Swanepoel     18th July 2018 Diversified giant BHP on Wednesday announced that the company had met or exceeded the production expectations for its commodities during the 2018 financial year, but warned of a $650-million financial impact related to the Samarco dam failure, in Brazil. “We have delivered a strong finish to the... 

BHP beats production expectations; warns of $650m Samarco charge
BHP CEO Andrew Mackenzie

Solid Q2 performance rounds out strong first half for Rio Tinto

By: Esmarie Swanepoel     17th July 2018 Diversified major Rio Tinto has reported increased production in most of its commodities in the second quarter ended June, compared with the previous corresponding period. “Operational performance was solid across most commodities, rounding out a strong first half performance for the group,”... 

Solid Q2 performance rounds out strong first half for Rio Tinto

The world's biggest miners want more copper but nobody's selling

By: Bloomberg     17th July 2018 It’s the mining world’s biggest dilemma: everyone’s hunting for copper deals, but even the richest producers just can’t pull the trigger. The largest miners all say they’re bullish on copper and looking for growth in the metal that’s forecast to be in ever-greater demand as cities expand and... 

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

New mining fund raising R750m to co-finance ancillary mine projects
CCP 12J MD Paul Miller talks to Mining Weekly Online’s Martin Creamer on new tax incentives to boost mining investment. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Artisanal mining, geopolitical milieu remain challenges

By: Erin Steenhoff-Snethlage     13th July 2018 Artisanal mining in West Africa, as well as an unstable geopolitical environment, remain core challenges to mining investment in the area, states Western Australia-based project developer Sarama Resources. “As noted by a number of key industry players, artisanal mining is becoming pervasive and... 

Mining Charter crucial, improvement needed – law firm

By: Jessica Oosthuizen     13th July 2018 It is important that the Mining Charter is given the attention it deserves if South Africa is serious about empowerment, says law firm ENSafrica natural resources and environment director Ntsiki Adonisi-Kgame. The draft Mining Charter for the South African Mining and Minerals Industry was... 

Mining Charter  crucial, improvement needed – law firm
Photo by Creamer Media
LAW AND LEGALITY The legal status of the Mining Charter must be addressed with urgency

SA mines relying heavily on unskilled workers despite Industry 4.0 gaining traction

By: Dylan Slater     13th July 2018 Contrary to the expected move towards employing a higher number of skilled personnel at mines to catalyse modernisation and mechanisation targets, the South African mining industry has backtracked, employing a significant number of unskilled personnel instead, according to a report compiled by... 

SA mines relying heavily on unskilled workers despite Industry 4.0 gaining traction

Coal to remain a significant energy source for decades – WCA

By: Nadine James     13th July 2018 Coal will remain a vital growth enabler and source of energy for decades to come, says World Coal Association CEO Benjamin Sporton. He notes that demand for coal will remain stable to positive, as a result of increased industrialisation and electrification, especially in Africa and South-East Asia. 

Coal to remain a significant energy source for decades – WCA
Photo by Creamer Media
COAL IS CONSTANT Coal will actually be the single largest energy source in 2040

Glencore sets up committee to respond to US subpoena

By: Mariaan Webb     11th July 2018 Diversified miner and commodity trader Glencore has established a board committee to oversee the London- and Johannesburg-listed company’s response to US authorities’ demand for documents relating to possible corruption and money laundering. The committee comprises chairperson Tony Hayward,... 

Glencore sets up committee to respond to US subpoena
Glencore chairperson Tony Hayward

Turnaround under way for Miranda Mineral Holdings

By: Marleny Arnoldi     10th July 2018 JSE-listed Miranda Mineral Holdings narrowed its headline loss a share for the year ended August 31, 2017, by 76% to 1.26c, compared with 5.34c in August 2013.  

TDS, Newrak awarded construction contract for Exxaro’s Matla Mine 2 and Mine 3

By: Nadine James     10th July 2018 TDS Projects Construction, in a joint venture with Newrak Mining, has been awarded the contract for two distinct but integrated mine development and infrastructure projects at Exxaro's Matla Mine 2 and Mine 3. The project will start on September 7, with the first blast taking place at Mine 3 for... 

Katanga appoints new COO

By: Simone Liedtke     9th July 2018 TSX-listed Katanga Mining, which is a subsidiary of diversified miner Glencore, has appointed Samuel Rasmussen COO. Rasmussen, who holds a BSc in Chemical Engineering and Petroleum Refining from the Colorado School of Mines, has copper processing and mining experience in large-scale openpit and... 

CITIC Metal gets internal green light to buy 19.5% stake in Ivanhoe

By: Marleny Arnoldi     9th July 2018 China State-owned investment company CITIC’s subsidiary CITIC Metal has completed its confirmatory due diligence and has received the necessary internal approvals to complete the long-term, strategic cooperation and investment agreement with TSX-listed Ivanhoe Mines.  

Green tech to drive industrial demand for silver

By: Nadine James     6th July 2018 The ongoing green technologies revolution, driven by the exponential growth of new energy vehicles (NEVs) and continued investment in solar photovoltaic (PV) energy, should boost global industrial demand for silver over the next decade, says non-profit industry organisation Silver Institute in a... 

New wheel dozer to drive productivity levels

6th July 2018 Global mining and construction equipment manufacturer Caterpillar has released the new Cat 814K – a wheel dozer that delivers “operating comfort, efficiency and serviceability advancements”. The wheel dozer’s features include a new, sound-suppressed cab, an efficient power unit and transmission... 

New wheel dozer to  drive productivity levels
PRODUCT AVAILABILITY The new Cat 814K wheel dozer is currently available for worldwide orders

Sandvik offers safe, dependable blast drilling

6th July 2018 Mining equipment and services provider Sandvik Mining and Rock Technology has delivered and commissioned the first DR461i, now identified as the DR412i rotary blast hole drill, to the African continent.  According to Sandvik, the DR412i blast-hole drill improves productivity while returning fuel... 

Sandvik offers safe,  dependable blast drilling
SURFACE LEVEL The Sandvik DR412i is focused on the changing requirements of surface miners

First-quarter global copper production up 7.1%

By: Nadine James     6th July 2018 Global mined copper production is estimated to have increased by 7.1% in the first quarter of 2018, with concentrate production rising by 7% and solvent extraction-electrowinning (SX-EW) by 7.3%, the International Copper Study Group (ICSG) reported in its Copper Bulletin, last month. The ICSG... 

Latest charter draft an improvement on previous iteration but discontent persists

By: Simone Liedtke     6th July 2018 The third iteration of the Mining Charter will have a significant effect on vendors of services and goods in the procurement space of South African mining, says legal services provider Strata Legal director Brandon Irsigler, noting that a great many suppliers to the mining industry are in the... 

Latest charter draft an improvement on previous iteration but discontent persists

Custom lube vehicle boosts mine’s safety, productivity

6th July 2018 Earthmoving equipment distributor Hitachi Construction Machinery Africa, in conjunction with its Mozambique subsidiary dealership, Hitachi Construction Machinery Mozambique, has designed and provided a custom-built lubricant vehicle for diversified mining giant Vale to enhance the availability of... 

Custom lube vehicle boosts mine’s safety, productivity
ENGENDERING SAFETY Hitachi’s custom-built lubricant vehicle enhances safety and optimises equipment availability

Junior miners against Mining Charter III, claim they haven’t benefited from previous iterations

By: Nadine James     6th July 2018 SRK Consulting principal geologist and partner Mark Wanless has suggested that despite government’s stated intention of nurturing a junior mining sector, feedback from last month’s Junior Mining Indaba demonstrated that this commitment has yet to be met.  “There is a strong sentiment among junior... 

Junior miners against Mining Charter III, claim  they haven’t benefited from previous iterations
MARK WANLESS There is a strong sentiment among junior mining companies that they are marginalised and excluded from the action,

Bell Equipment extends excavator range, Kobelco partnership

By: Erin Steenhoff-Snethlage     6th July 2018 South African earthmoving equipment manufacturer and supplier Bell Equipment is expanding its partnership with Japanese excavator specialist Kobelco Construction Machinery (Kobelco) with a range of three mini excavator models and three larger models launched in April. Bell is the exclusive... 

Bell Equipment extends excavator range, Kobelco partnership
EXPANDING RANGE Bell Equipment is extending its excavator range with the addition of new Kobelco excavators

Cumbre will drive investment, collaboration in Latin America

By: Jessica Oosthuizen     6th July 2018 The focus of this year’s Investing in LatAm Mining Cumbre, one of the world’s largest mining investment conferences run by the same team behind the Investing in African Mining Indaba, is to drive increased investment and collaboration in Latin American mining, says content developer and... 

Cumbre will drive investment, collaboration in Latin America
INCREASED REPRESENTATION The Investing in LatAm Mining Cumbre will boast 25% female representation, in terms of speakers and advisory board members, this year

Vedanta starts commissioning activities at Gamsberg

By: Simone Liedtke     5th July 2018 Diversified mining company Vedanta Resources’ subsidiary Vedanta Zinc International (VZI) has started commissioning activities at its Gamsberg project, a greenfield mining project in the Northern Cape. Waste pre-stripping was completed by the end of June and ore production has started. 

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme

By: Martin Creamer     5th July 2018 Research analysts have sprung to the defence of Glencore, which has rapidly restored confidence by announcing an immediate share buyback programme that communicates the formidable faith of management in the London- and Johannesburg-listed diversified mining and marketing company. In a note... 

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

Vast lifts Zimbabwe, Romania production in Q2

By: Marleny Arnoldi     4th July 2018 Aim-listed diversified miner Vast Resources on Wednesday released a solid set of production results for the three months ended June 30, including a record quarter for the Pickstone-Peerless gold mine, in Zimbabwe.  

Kropz listing, Australian lessons and transparency in the DMR 

4th July 2018 This week, Mining Weekly editor Martin Creamer discusses Kropz’s intention to list on London’s Aim, lessons from Australia and transparency in the DMR. 

Kropz listing, Australian lessons and transparency in the DMR
Kropz listing, Australian lessons and transparency in the DMR

China says former Rio Tinto executive Stern Hu released from prison

By: Reuters     4th July 2018 China's Foreign Ministry said on Wednesday that Stern Hu, an Australian citizen and former Rio Tinto executive jailed in China on bribery charges eight years ago, has been released. Ministry spokesman Lu Kang made the announcement at a daily news briefing in Beijing. 

US probe darkens Glencore's horizons from Africa to Americas

By: Bloomberg     4th July 2018 The US corruption and money-laundering probe into Glencore Plc represents the sum of all fears for the world’s largest commodity trader and its billionaire CEO Ivan Glasenberg. The possibility that the Justice Department would add to the dizzying array of regulatory and legal headaches the Swiss... 

Anil Agarwal faces shareholder resistance to $1bn Vedanta bid

By: Reuters     4th July 2018 Billionaire Anil Agarwal faces investor resistance to his $1-billion bid to buy out minority shareholders in Vedanta Resources and take the London-listed Indian miner private. Vedanta, chaired by its 64-year-old founder Agarwal, on Monday announced that its independent board directors were... 

Anil Agarwal faces shareholder resistance to $1bn Vedanta bid
Anil Agarwal

Hardey to acquire Argentina vanadium mine

By: Marleny Arnoldi     3rd July 2018 ASX-listed junior minerals company Hardey Resources has entered into a share sale agreement to acquire 100% of the issued share capital of Nelly Vanadium – a mineral explorer that owns the Nelly vanadium mine in San Luis province, in Argentina.  

Glencore plunges after US subpoena regarding money laundering

By: Bloomberg     3rd July 2018 Glencore tumbled the most in two years as its African troubles escalated dramatically after US authorities demanded documents relating to possible corruption and money laundering. The world’s biggest commodity trader said Tuesday that it’s been subpoenaed by the US Department of Justice to... 

Glencore plunges after US subpoena regarding money laundering

Congo court suspends hearing on Glencore-owned cobalt mine

By: Bloomberg     2nd July 2018 A court in the Democratic Republic of Congo suspended a hearing about a lawsuit brought by a former shareholder of a Glencore-owned cobalt and copper mine. The case was put on hold pending a decision by the country’s Court of Appeal on whether the High Court should have jurisdiction over the... 

Vedanta Resources to delist from LSE following Agarwal’s planned buyout

By: Marleny Arnoldi     2nd July 2018 Billionaire shareholder Anil Agarwal on Monday announced plans to buy out minority shareholders in Vedanta Resources and to delist the diversified miner from the London Stock Exchange (LSE), sending the company’s stock up 28%.  

Vedanta Resources to delist from LSE following Agarwal’s planned buyout
Photo by Dylan Slater
Vedanta Resources chairperson Anil Agarwal

Huge Brazil tax liability slows sale of funds' Vale stakes – sources

By: Reuters     29th June 2018 A potential tax liability in the billions of dollars is delaying the sale of major stakes in miner Vale SA by Brazil's largest pension funds, according to two sources with knowledge of the matter. Discussions over the tax issue are prolonging when and how pension funds are going to unload their... 

Sibanye enters into strategic exploration partnership to unlock value in Argentina

By: Nadine James     29th June 2018 Precious metals miner Sibanye-Stillwater has entered into an agreement with TSX-listed Regulus Resources, and its newly formed subsidiary Aldebaran Resources, to create a strategic partnership to unlock value at the Altar copper/gold project, in San Juan province, Argentina. Under the terms of... 

Sibanye enters into strategic exploration partnership to unlock value in Argentina
Photo by Creamer Media
Sibanye CEO Neal Froneman

Rio Tinto ready to splash out on copper

By: Reuters     29th June 2018 Rio Tinto wants copper badly, and it's ready to pay top-dollar. The global miner would be willing to fork out a large premium over market value to secure a prime asset as it tries to reduce its reliance on iron ore, company and banking sources told Reuters. 

BHP commits $211m to Brazil’s Renova Foundation, Samarco

By: Esmarie Swanepoel     29th June 2018 Mining major BHP on Friday said that it would contribute a total of $211-million to the Renova Foundation and its joint venture with Brazilian major Vale, Samarco, until the end of December this year. The miner said that $158-million of the funds would go towards the Renova Foundation to... 

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