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Canadian mining and refinery project ready for financing

By: Bruce Montiea     Updated 2 hours 34 minutes ago Canadian precious-metals and specialty minerals projects developer Fortune Minerals is pursuing financing solutions and offtake agreements for its Nico gold/cobalt/bismuth/copper project, a vertically integrated development comprising a proposed mine in Canada’s Northwest Territories and a... 

Tungsten project ships first concentrates

     Updated 2 hours 34 minutes ago Aim-listed multi-commodity mining and resource development company Premier African Minerals announced last month that plant modifications for its flagship RHA Tungsten project, in Zimbabwe, had arrived on site and that the first tungsten concentrate from the project had been shipped to Durban,... 

R&D tax incentive, pay cuts boost Tawana’s cash balance

By: Megan van Wyngaardt Dual-listed Tawana Resources has received $379 004 from the Australian Taxation Office for research and development (R&D) conducted last year. The R&D Tax Incentive provided a tax rebate to support Australian companies to undertake R&D. 

Anglo American entrepreneur interns graduate

By: Zandile Mavuso Twenty-one early-stage growth entrepreneurs graduated from the second phase of global miner Anglo American’s Entrepreneur Internship Programme (EIP) on Thursday morning. 

Madagascar considers taking stakes in mining projects, increasing royalty fees

By: Reuters Madagascar plans to increase royalty fees and claim 10% stakes in mining concessions, under proposed changes to its mining code, according to a draft document seen by Reuters on Wednesday. One of Africa's poorest countries, Madagascar hopes to accelerate economic growth by developing natural... 

PwC warns against overtaxation in Africa's resources sector

By: Esmarie Swanepoel Advisory firm PricewaterhouseCoopers (PwC) has warned African nations against overtaxing investments in the resources sector. Launching a new report on the second day of the Africa Downunder conference, PwC African practice leader and resource sector partner Ben Gargett said taxation and fiscal... 

S&P's cuts Glencore outlook to negative on weak commodities

By: Reuters Standard & Poor's (S&P's) on Thursday cut its outlook for Glencore Plc to 'negative' from 'stable' after slashing its price forecasts for metals and amid uncertainties about China's economic outlook. The mining and commodities firm posted a 29% slump in first-half earnings in August and cut its... 

Obama heads to Arctic community on last day of Alaska tour

By: Reuters President Barack Obama on Wednesday will become the first sitting US president to visit a community north of the Arctic Circle, a trek the White House hopes will bring into focus how climate change is affecting Americans. After meeting tribal leaders and fishermen in Dillingham, home to the... 

Obama heads to Arctic community on last day of Alaska tour
Photo by Reuters
US President Barrack Obama views a receding glacier on a trip to Alaska.

Moody’s affirms S Africa’s rating, says country will avoid recession

By: Megan van Wyngaardt The South African government on Wednesday welcomed Moody’s Investors Service’s decision to affirm South Africa’s sovereign ratings and maintain a stable outlook on the rating. Moody’s affirmed the government bond ratings at ‘Baa2’, based on the expectation that the fiscal consolidation path... 

Moody’s affirms S Africa’s rating, says country will avoid recession

Commodity prices have ‘hit bottom’ – Barnett

By: Esmarie Swanepoel West Australian Premier Colin Barnett on Wednesday voiced optimism over the future of commodity prices, expressing the view that, while the market was still fragile, commodity prices had likely “hit the bottom”. “Oil, gas and iron-ore prices are low, but we have probably hit the bottom [of this... 

Commodity prices have ‘hit bottom’ – Barnett
Premier Colin Barnett

Obama pushes for more US ice-breaking might in Arctic

By: Reuters President Barack Obama on Tuesday proposed a faster timetable for buying a new heavy icebreaker for the US Arctic, where quickly melting sea ice has spurred more maritime traffic, and the US has fallen far behind Russian resources. The move, part of a push to convince Americans to support... 

Govt, labour, business ink declaration to stem jobs losses in mining sector

By: Natalie Greve Several trade unions, representatives of the Department of Mineral Resources and leaders from the Chamber of Mines (CoM) have committed to embarking on a ten-point action plan aimed at stemming the deluge of jobs in the buckling sector, on Monday signing a declaration crafted during a... 

Govt, labour, business ink declaration to stem jobs losses in mining sector

Poor Aus, mining markets cut WBHO’s profits, employment

By: Irma Venter The slow Australian market and a declining mining sector took their toll on construction group Wilson Bayly Holmes-Ovcon (WBHO) for the year ended June 30, with operating profit sliding to R602-million, down sharply from the previous year’s R978-million. Earnings a share of continuing operations... 

 Poor Aus, mining markets cut WBHO’s profits, employment
Louwtjie Nel

S Africa seals mining jobs deal, proposes platinum plan

By: Reuters South Africa's mining industry, unions and the government signed a broad plan on Monday to stem a wave of job losses triggered by falling commodity prices and soaring costs. The document of the blue print seen by Reuters last week included boosting platinum by promoting the metal as a central... 

S Africa seals mining jobs deal, proposes platinum plan

Magnum offloads remaining share in Tantalite Valley project for R7m

By: Natalie Greve ASX-listed Magnum Mining & Exploration has moved to offload its remaining 40% interest in the Tantalite Valley project, in Namibia, to fellow miner African Tantalum for R7-million, recently signing a sale and purchase agreement that would see it sell its remaining shareholding in the project and... 

Aus gold sector to attract most M&A activity in H2 – EY

By: Esmarie Swanepoel The Australian gold sector was likely to remain the hub for merger and acquisition (M&A) activity for the remainder of the year, advisory firm EY reported on Monday, as the sector continued to consolidate. EY’s latest quarterly mining deals analysis, ‘Mergers, acquisitions and capital raising in... 

Tanzania's opposition vows to review mining, gas contracts

By: Reuters Tanzania's main opposition presidential candidate said he would review mining and gas contracts, and also scrap "unnecessary" tax exemptions for mining companies, if elected president of the east African nation in October. Former prime minister Edward Lowassa, 62, snubbed as the ruling party's... 

Tanzania's opposition vows to review mining, gas contracts

Cost cuts to hit mining jobs, State revenues in Congo – chamber

By: Reuters Expected cost-cutting by mining companies in Democratic Republic of Congo is likely to lead to layoffs and reduce government revenues amid a sharp decline in metals prices, the chamber of mines said. Falling prices would not affect copper output this year, the chamber said in a report seen by... 

Company modifies design of materials hauler jacking system

By: Bruce Montiea Hydraulic tools manufacturer Hi-Force is making design changes to its ToughLift jacking system, with new models expected to be released in 2016, says company marketing director Laura Thompson. “The jacking system provides users in the mining industry with an easy and safe method of lifting... 

Company modifies  design of materials  hauler jacking system
STURDY AND SAFE The ToughLift jacking system can meet the requirements of plant operators at mines and quarries

Miner implementing technology derived from computer gaming

Millions of rands are spent every year on products and services designed to keep miners safe; however, many people do not know that some of the most important and advanced technological mining safety solutions originate from computer gaming, notes Standard Bank small enterprise head Ethel Nyembe.... 

Miner implementing technology derived from computer gaming
SAFETY AT WORK Mines are investing in technologies to increase the safety of workers

Mines advised to place new focus on innovation and technology

The mining industry is “far behind” in terms of using technology and innovation to deal with industry-related challenges such as dropping ore grades, high-energy costs and lack of reliable energy supply, says bespoke mining enterprise software engineering solutions developer Stone Three Mining... 

Mines advised to place new focus  on innovation and technology
FROTH SENSOR Stone Three Mining Solutions optimises mineral processing plants through machine vision based smart sensor technology

New underground scanning device now locally available

By: Bruce Montiea Full service technology implementation company Ramjack Technology Solutions in February launched Canadian mining mobile equipment company Peck Tech Consulting’s uGPS Rapid Mapper scanning device onto the local market. The device, unveiled in South Africa during a roadshow jointly conducted by... 

New underground  scanning device  now locally available
COLLECTING ACCURATE DATA The uGPS Rapid Mapper can take scans at speeds of between 1 km/h and 15 km/h

Technology can assist in preventing mining fraud

By: Bruce Montiea Technology is increasingly being used in the mining industry to reduce fraudulent activities, says software development company Dariel. Dariel MD Malcolm Rabson notes that while illegal mining is a significant challenge, it is not only these undertakings that result in fraud, as “much of it... 

Technology can assist in preventing mining fraud
Photo by Bloomberg
STREAMLINING OPERATIONS With Dariel’s Weigh Bridge Connectivity solution, drivers who transport minerals have a radio-frequency identification card and vehicle number-plate recognition to prevent fraud

Vale reports coal prices down, although costs also fell, in the second quarter

By: Keith Campbell Brazilian mining major Vale is of the opinion that the global metallurgical (or coking) coal market “may remain oversupplied throughout the year despite some slight production decrease from US producers in 2015”. In its report Vale’s Performance in 2Q15, the miner surveyed the state of the... 

Goldcorp, Teck to combine Chile projects into massive 50/50 JV

By: Henry Lazenby Gold major Goldcorp and Canadian diversified miner Teck Resources will combine their El Morro and Relincho projects, in Chile, to leverage increased financial returns and dramatically reduce capital expenditure. The miners announced on Thursday that both companies would contribute their separate... 

Goldcorp, Teck to combine Chile projects into massive 50/50 JV
Photo by Goldcorp/Teck Resources
Project Corridor, in Chile, aims to combine the El Morro and Relincho projects.

S Africa mine industry job plan targets platinum as SARB reserve asset

By: Reuters South Africa's mining industry, unions and the government have committed to a broad plan to stem job losses, including boosting platinum by promoting the metal as a central bank reserve asset, according to a draft agreement seen by Reuters on Wednesday. The parties also said they would strive to... 

Fortune Minerals sells remaining Hemlo equipment for $415 000

By: Henry Lazenby Project developer Fortune Minerals has replenished its coffers through the sale of the remaining equipment it salvaged from the Golden Giant mine, at Hemlo, in Ontario. While the equipment was originally meant for use at the proposed Nico gold/cobalt/bismuth/copper development, in the Northwest... 

Molycorp to close Mountain Pass facility in October 

By: Henry Lazenby North American rare earths producer Molycorp will close its Mountain Pass rare-earth facility, in California, on October 20. Molycorp, which operated Mountain Pass, the largest rare earths mine outside of China, and its processing facility, had on June 25, along with its subsidiaries in North... 

Molycorp to close Mountain Pass facility in October

Kebble a ‘breath of fresh air in a stale industry’

By: News24Wire Roger Kebble, 75, was a "fresh breath of air in a very stale gold mining industry", mining entrepreneur Bernard Swanepoel said of the late businessman on Wednesday. "I liked him and had a high regard for him," Swanepoel told News24. 

Kibo placing to be concluded by year-end

By: Megan van Wyngaardt JSE-listed Kibo Mining expected its £950 000 share placing through its former UK broker Hume Capital Securities to conclude between October and December, when £526 000, representing the consideration for 10.5-million shares, which were to be issued to third-party investors, would be released to... 

BHP Billiton still bullish on China

By: Martin Creamer China will continue to grow at 7% this year, BHP Billiton CEO Andrew Mackenzie said on Tuesday, when the mining giant posted a solid set of dividend-paying results. Mackenzie, who rejected the notion that China was “impossible to read”, expected the second half of this calendar year to be... 

BHP Billiton still bullish on China
Photo by Reuters
BHP Billiton CEO Andrew Mackenzie

June mining production up 4% y/y

By: Megan van Wyngaardt South Africa’s mining production rose 4% year-on-year in June, mainly owing to higher platinum-group metal (PGMs), manganese ore, diamonds and chromium ore production. Speaking to Mining Weekly Online, Statistics South Africa (Stats SA) deputy director-general of economic statistics Joe de Beer... 

June mining production up 4% y/y

South Africa's mining industry to sign jobs pact – govt

By: Reuters South Africa's mining ministry hopes to clinch a deal with mining companies and trade unions next week aimed at saving jobs, as President Jacob Zuma's government grapples with high unemployment ahead of elections next year. The mining industry, which contributes around 7% to Africa's most... 

South Africa's mining industry to sign jobs pact – govt

Economic growth fears emerge as S Africa's GDP contracts 1.3% in Q2

By: Megan van Wyngaardt South Africa’s gross domestic product (GDP) contracted by 1.3% quarter-on-quarter in the quarter ended June 30. “The real economy has not performed that well, including construction, which has always been one of the main job creators,” Statistics South Africa statistician-general Pali Lehohla... 

Economic growth fears emerge as S Africa's GDP contracts 1.3% in Q2

Q1 brings mixed bag for multicommodity miner Mwana

By: Natalie Greve Multicommodity miner Mwana Africa lifted gold production from its Freda Rebecca mine, in Zimbabwe, by 6% to 16 985 oz in the quarter ended June 30, benefitting from a 37% increase in tons mined to 316 151 t and an 11% improvement in feed grade to 2.03 g/t, it said on Tuesday. Conversely, tons... 

BHP focused on further cost cuts after tough year 

By: Esmarie Swanepoel Mining giant BHP Billiton on Tuesday announced that it would further cut back on spending as it downwardly adjusted its estimations for peak Chinese steel demand. In a conference call, CEO Andrew Mackenzie said BHP had delivered productivity gains of $4.1-billion in the year ended June 30, some... 

BHP focused on further cost cuts after tough year
Photo by Bloombeg
BHP Billiton CEO Andrew Mackenzie

Wall Street suffers worst day in four years, S&P confirms correction

By: Reuters Investors rattled about China sent US stock indices almost 4% lower on Monday in an unusually volatile session that confirmed the S&P 500 was formally in a correction, even after a dramatic rebound by Apple. The Dow Jones industrial average briefly slumped more than 1 000 points, its most... 

Wall Street suffers worst day in four years, S&P confirms correction

Madagascar faces uphill struggle to revive bruised mining sector

By: Reuters When foreign mining firms and Western donors were pulling funds out of Madagascar following a coup in 2009, Austral Resources CE Scott Reid did the opposite and poured money in to the Indian Ocean island. Yet far from being rewarded, the company's $3.5-million investment in drilling and... 

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