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For Valentine's Day gift, forget diamonds: try ichnusaite

By: Reuters Far rarer than diamonds or emeralds, some minerals on Earth are known only from thimbleful samples, according to a first list of 2 550 obscure minerals on Friday that could have future uses, ranging from industry to exotic Valentine's Day gifts. Ichnusaite, fingerite, amicite and nevadaite are... 

Mines Management gets conditional approval to build $500m copper/silver mine in Montana

By: Henry Lazenby The US Forest Service and the Montana Department of Environmental Quality has given TSX- and NYSE MKT-listed project developer Mines Management conditional approval to proceed with development of its $550-million Montanore silver/copper mine, underneath the Cabinet Mountains Wilderness, in... 

Argentina scraps mining export taxes as part of free market push

By: Reuters Argentina's new president has revoked the 5% tax that the previous administration collected on mining exports, state news agency Telam reported on Friday, as part of the country's two-month old push toward open markets. "Today end the taxes on mining exports," president Mauricio Macri,... 

Formalising artisanal mining can spark great benefits, say NGOs

By: Kim Cloete Some of the millions of artisanal mineworkers in the world are starting to get recognition, with more of these miners working in partnership with larger mining companies. This was paying off, said Karen Hayes, senior director of ‘Mines to Markets’ at Washington-based nongovernmental organization... 

Olympic Dam to beat 2016 copper target – BHP

By: Esmarie Swanepoel Mining major BHP Billiton is on track to exceed its 2016 financial year copper production target of 200 000 t at the Olympic Dam mine, in South Australia. Asset president Jacqui McGill told the American Chamber of Commerce on Friday that copper production during the December quarter had... 

Olympic Dam to beat 2016 copper target – BHP

Challenges galore, but still room for optimism about SA mining – KPMG

By: Ilan Solomons An uncertain regulatory framework, weaker commodity prices, increased working costs, constrained infrastructure, high labour costs coupled with poor levels of productivity and strained labour-management relations - these are some of the challenges that have placed South Africa’s mining industry... 

Challenges galore, but still room for optimism about SA mining – KPMG
ALIVE WITH OPPORTUNITIES There is still room for optimism about the future and opportunities for South Africa’s mining sector

Demand for logging tool soars since October launch

By: Mia Breytenbach Demand from the mining industry for the REFLEX EZ-GAMMA driller operable, gamma logging tool, used in geological mapping, has markedly increased since its launch in October last year, states downhole instrumentation, data management and data analysis technologies provider REFLEX. The REFLEX... 

Demand for logging tool soars since  October launch
PERFORMANCE EFFICIENCY The lower cost of gamma logging provides an opportunity for further logging, which has previously been too expensive an exercise

Infrastructure deficit limiting Canada’s mining operations

By: Malusi Mkhize Given the limited resources available to Canada’s territorial governments, federal funding will play a key role in developing infrastructure to facilitate the country’s minerals exploitation, according to a study by the Prospectors and Developers Association of Canada (PDAC) and other industry... 

Infrastructure deficit limiting Canada’s mining operations
Photo by Bloomberg
UNLOCKING MINERAL WEALTH Improving infrastructure to aid mining will be a common theme at the Prospectors and Developers Association of Canada Convention 2016

Mining stocks resemble ‘a big Walmart sale’ as low commodity prices persist

By: Henry Lazenby Sentiment remain negative about the mining and oil and gas industries as the super cycle nears a protracted potential bottom, resulting in dwindling market capitalisations for companies large and small and cruelly undervalued stock prices – creating a buyer’s market for the savvy investor. Chief... 

Mining stocks resemble ‘a big Walmart sale’ as low commodity prices persist

Mining’s improving fortunes weighed down by debt

By: Simon Rees The mining sector was expected to climb out of the downturn’s trough by year-end 2016, Paradigm Capital partner and senior analyst David Davidson told an audience at a recent meeting of the Canadian Institute of Mining’s Management and Economics Society. However, debt levels were a notable... 

Mining’s improving fortunes weighed down by debt

Nuclear affordability emphasised, as Zuma unveils economic ‘turnaround plan’ 

By: Terence Creamer President Jacob Zuma unveiled the skeleton of what he described as an economic “turnaround plan” in a State of the Nation Address dominated by the current plight of the South African economy, which was unlikely to grow by more than 1% in 2016 and would not nearly approach the 5%-plus levels... 

Nuclear affordability emphasised, as Zuma unveils economic ‘turnaround plan’
President Jacob Zuma

Teck turns a profit in low commodity price environment

By: Henry Lazenby Canadian diversified miner Teck Resources surprised markets on Thursday with better than expected fourth-quarter earnings, beating analyst expectations by C$0.03 a share. However, the Vancouver-based miner reported a net loss of C$459-million in the fourth quarter, as it booked after-tax... 

Teck turns a profit in low commodity price environment

Ignore communities at your peril, Royal Bafokeng leader tells mines

By: Kim Cloete Mining companies in Africa have been criticised for often ignoring the views of communities in which they work. “Many voiceless communities rely on mining to survive. We see mining as vital but the communities that are heavily affected are not at the table when decisions are made,” the leader of... 

Stakeholders urged to embrace fast-approaching digital mining

By: Kim Cloete With the interplay between technological development and the mining industry becoming increasingly prominent, delegates at this year’s Investing in African Mining Indaba have been urged to embrace the concept of digital mining. Diversified metals and mining major Vedanta Resources CEO Tom... 

Ebola, insurgents and riots: the perils of West African mining

By: Reuters From Ebola to Islamist insurgents to social unrest triggered by the global commodity downturn, mining firms operating in West Africa face mounting security challenges, analysts and executives say. Safety is on all radar screens in the region after an Islamist attack on a restaurant and hotel left... 

Ebola, insurgents and riots: the perils of West African mining

S Africa mining activity remains weak

By: Megan van Wyngaardt South Africa’s mining production increased 3.3% year-on-year for 2015, following a decrease of 1.4% in 2014, according to data from Statistics South Africa. Output for December, however, decreased by 0.3% year-on-year, with negative growth rates recorded for iron-ore, down 17.1%; copper, down... 

Glencore reports lower FY coal, copper output

By: Creamer Media Reporter Output across most of diversified major Glencore’s production categories fell in 2015, with coal output down 10% year-on-year, copper production 3% year-on-year and nickel 5% year-on-year. Coal production decreased to 131.5-million tonnes, owing to the curtailment of production in response to... 

Glencore reports lower FY coal, copper output

Rutile production ramps up in Sierra Leone

By: Kim Cloete Sierra Rutile has risen above civil war and, more recently, the Ebola virus, to deepen its mining operations, with ambitions to become the largest global rutile producer. The Sierra Leone-based company currently supplies 17% of global demand. It sells to bitumen producers throughout the world,... 

Rio Tinto CFO says well placed to chase acquisitions

By: Reuters Global miner Rio Tinto is well placed to chase acquisitions, CFO Christopher Lynch said on Thursday as the company released its 2015 results. CEO Sam Walsh earlier said that there were no assets on market that excited Rio Tinto right now, in a call to reporters following its results. 

Rio Tinto targets $2bn savings as it slumps to full-year loss

By: Esmarie Swanepoel Mining major Rio Tinto on Thursday announced that it would cut about $1-billion from its operating cost base in 2016, and an additional $1-billion in 2017, in an effort to fight dwindling commodity prices as it swung into a loss. “The continued deterioration in the macro environment has... 

Rio Tinto targets $2bn savings as it slumps to full-year loss
Photo by Bloombeg
Rio Tinto CEO Sam Walsh

Australia export earnings from China trade fall on commodity price slump

By: Esmarie Swanepoel As China’s economy continued to lose momentum through the fourth quarter of 2015, most commodity prices followed suit. Australia’s Office of the Chief Economist warned in the latest edition of its China Resources Quarterly that the longer commodity prices spent at their current levels, the more... 

Lower commodity prices driving down Western Australian firms

The market capitalisation of Western Australian listed companies fell by 2.2% and closed at A$119.3-billion in January, as commodity prices continued to remain slumped, advisory firm Deloitte said on Thursday. “The Western Australian economy is intrinsically linked to the health of the global... 

Zambia sees higher economic growth on improved power supply 

By: Reuters Zambia's economy is expected to expand by 3.7% this year, largely stable from last year but could grow more than four% in 2017, the deputy finance minister said on Wednesday. An electricity shortage in Africa's no 2 copper producer has stunted the mining sector, while weaker copper prices due to... 

Zambia sees higher economic growth on improved power supply

Engineers Without Borders working towards establishing local procurement reporting standard

By: Henry Lazenby The Mining Shared Value initiative of Engineers Without Borders Canada (EWB) has partnered with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to work with international mining companies in establishing a measurement and reporting standard for local procurement by the... 

Mining Indaba is more relevant in bust than in boom – MD

By: News24Wire The mining crisis and subsequent job losses in the industry might have had an impact on the number of delegates at the Investing in African Mining Indaba in 2016, but the dialogue between key leaders at the event meant this year’s event carried greater weight than other years. That is according... 

Mining’s stressed state moving govts, investors closer – Bristow

By: Martin Creamer The current stressed state of the mining sector was prompting governments and investors to work together to sustain the industry and make it deliver real value for all stakeholders, Randgold Resources CEO Dr Mark Bristow said on Wednesday. Speaking at the 2016 Investing in African Mining Indaba,... 

Mining’s stressed state moving govts, investors closer – Bristow
Photo by Bloomberg
Randgold Resources CEO Dr Mark Bristow

Innovation the key to success in troubled mining sector

By: Kim Cloete A study into innovation in Africa’s mining sector has shown that mining houses will need to innovate if they want to succeed in a sector marked by plunging commodity prices, deeper and more dangerous mines, greater geographical complexity and labour unrest. The ‘Innovation State of Play: Africa’... 

Innovation the key to success in troubled mining sector

Africa entering phase of becoming factory of world – Menell

By: Martin Creamer Africa was entering a phase of becoming the factory of the world requiring the building of facilitating infrastructure, Credit Suisse Securities chairperson Rick Menell. Speaking  during a panel discussion at the 2016 Investing in African Mining Indaba, Menell outlined how Africa’s large resource... 

Africa entering phase of becoming factory of world – Menell
Photo by Duane Daws
Credit Suisse Securities chairperson Rick Menell

Guptas get interdict against EFF

By: News24Wire The Gupta brothers on Tuesday obtained an urgent interdict to stop the EFF from threatening them. Judge Johan Louw granted an order in the High Court in Pretoria, interdicting the party, its leader Julius Malema and its Gauteng spokesperson Ntobeng Ntobeng from making threats of violence against... 

Guptas get interdict against EFF

Anglo engaging harshest critics, Indaba hears

By: Martin Creamer Anglo American is engaging with its harshest critics because they are often the best people to learn from, Anglo American CEO Mark Cutifani said during a panel discussion at the 2016 Investing in African Mining Indaba. Moderated by International Council on Mining and Metals (ICMM) CEO Tom... 

Anglo engaging harshest critics, Indaba hears
Photo by Duane Daws
Anglo American CEO Mark Cutifani

China has ‘very serious’ structural problem – Broadman

By: Martin Creamer A very serious structural problem is playing itself out in China and not merely a reorienting to a consumption-led economy, says Council on Global Enterprise and Emerging Markets director Dr Harry Broadman. Broadman, who delivered the second keynote address at the 2016 Investing in African Mining... 

China has ‘very serious’ structural problem – Broadman

Rwanda signs tin and tantalum mining deal with Omani-owned Tri Metals

By: Reuters Rwanda has signed a five-year mining contract worth $39-million with a unit of Oman's Mawarid Mining to extract tin, tantalum and niobium, the mining ministry said on Tuesday. Mining, which the government says contributes about 1.5% of Rwanda's $7.9-billion gross domestic product, is the East... 

Senior lenders back Glencore's loan refinancing

By: Reuters Global diversified natural resource company Glencore is expected to wrap up senior syndication of a one-year revolving credit that refinances existing debt by the end of next week after a strong market response, bankers said on Tuesday. Glencore is refinancing a $8.45-billion loan that supports... 

Miners owe it to host countries to invest in downturns – Randgold

By: Martin Creamer Mining companies owed it to their host countries and their shareholders to invest in the troughs so that they could reap the benefits in the peaks, Randgold Resources CEO Dr Mark Bristow said on Tuesday. Speaking during a panel discussion at the 2016 Investing in African Mining Indaba, Bristow... 

Miners owe it to host countries to invest in downturns – Randgold
Photo by Duane Daws
Randgold CEO Mark Bristow

Southern Africa mining groups warns of steep job losses

By: Reuters Falling commodity prices have led to 70 000 job losses in Southern Africa's mining sector, with more on the horizon, the Mining Industry Association of Southern Africa (Miasa) said on Tuesday. "Miasa notes with concern, the large scale retrenchments in the region as a consequence of depressed... 

Need for mining’s reinvention as critical economic pillar – Biti

By: Martin Creamer Mining needs to be reinvented as a mutually transformative win-win for countries and companies to put an end to the resource curse, which has destroyed the collective creativity of resource-rich economies, causing them to fall behind their resource-poor counterparts, former Zimbabwe Finance... 

Gupta's face off with EFF in court

By: News24Wire The Gupta family and the Economic Freedom Fighters (EFF) are expected to face off North Gauteng High court on Tuesday. The family, via their company Oakbay Investments,  is understood to have filed an urgent application on behalf of their shareholders, businesses and staff to interdict the EFF on... 

Gupta's face off with EFF in court
Julius Malema

M&R, EGMF set up DRC company at Mining Indaba

By: Martin Creamer Underground mining services company Murray & Roberts (M&R) Cementation, together with Enterprise Generale Malta Forrest SA (EGMF), used the Mining Indaba as a setting to establish a new joint company in the Democratic Republic of Congo (DRC) to serve the mining industry in Central Africa.... 

M&R, EGMF set up DRC company at Mining Indaba
Photo by Duane Daws
M&R Cementation business development executive Allan Widlake
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