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Diversified Miners News

North River to draw down second tranche of Greenstone funding

By: Natalie Greve     Updated 5 hours ago North River Resources has completed several “key operational objectives” at its flagship Namib lead and silver project in Namibia and has, therefore, satisfied the conditions precedent to draw down the second tranche of equity funds from a $12-million investment agreement with Greenstone... 

Olympic Dam growth only likely when ‘bottlenecked’ mine runs at full capacity

By: Esmarie Swanepoel Diversified miner BHP Billiton on Friday said that the company would look at cost-cutting efficiencies at its Olympic Dam copper and uranium operation, in South Australia, before considering an expansion. “Once we are able to run our existing operation at full capacity, we then – and only then –... 

Olympic Dam growth only likely when ‘bottlenecked’ mine runs at full capacity
The Olympic Dam copper and uranium operation, in South Australia.

Mine productivity down 7% last year as greater depths, tricky orebodies and labour unrest take toll

By: Chantelle Kotze As the latest statistics from Productivity SA show that labour productivity in the mining sector fell almost 7% last year, mine management urgently needs a long-term vision for an operating environment that will improve output per worker, consulting engineering firm SRK Consulting chairman Roger... 

Mine productivity down 7% last year as greater depths,  tricky orebodies and labour unrest take toll
ROGER DIXON While machines and systems are vital to better productivity, so is the health of the workers themselves

Vale reports increased production from African operations in third quarter

By: Keith Campbell Brazilian mining major Vale’s Moatize coal operation in the Tete province of Mozambique increased its output during the third quarter (3Q) of this year, in comparison to the second quarter (2Q). This was revealed by the group in its 3Q14 Production Report. During the third quarter, Moatize... 

GoldStone shareholders approve Stratex’s 50.1% buyout

By: Natalie Greve The shareholders of Aim-listed explorer GoldStone Resources have passed a resolution approving the waiver of obligations on Stratex in connection with Stratex's proposed subscription of £1.25-million worth of shares in GoldStone. As at October 31, Stratex would hold 20.8-million ordinary shares... 

ARM, unions conclude five-year employee participation fund

By: Natasha Odendaal Patrice Motsepe’s African Rainbow Minerals (ARM) and three unions this week settled drawn-out negotiations over an employee participation fund (EPF). The National Union of Mineworkers (NUM), Solidarity and the National Union of Metalworkers of South Africa inked a five-year collective EPF that... 

ARM, unions conclude five-year employee participation fund
Photo by Duane Daws
Patrice Motsepe

Sephaku to post H1 earnings loss

By: Natalie Greve Sephaku Holdings, which is in the process of finalising its interim results for the six months ended September 30, expects to swing to a basic loss a share of between 1.9c and 2c for the half-year, from basic earnings a share of 3.32c in the first half of the prior year. The headline loss a share... 

Mine Restoration Investments names new FD

By: Natalie Greve Mine Restoration Investments (MRI) has appointed FD Anthon Meyer as nonexecutive director and named former Jubilee Platinum group financial manager Carl-Heinz Gernandt as his successor. Gernandt, whose appointment would be effective from December 1, previously held directorship, financial... 

Lemur advances triple-edged strategy, awaits Imaloto IPP licence

By: Natalie Greve ASX-listed Lemur Resources continued to advance its three-ponged growth strategy by developing its planned flagship Imaloto coal mine, in Madagascar, exploiting its cash balance to acquire additional assets and leveraging its geoservices equipment and geological capabilities in Africa to earn... 

Compliance costing Australian firms A$250bn/y

By: Esmarie Swanepoel Australian companies were spending about A$250-billion each year on efforts to comply with rules and regulations, advisory firm Deloitte reported on Thursday. In its fourth edition of the Building the Lucky Country series, Deloitte noted that about A$95-billion was spent on administering and... 

Compliance costing Australian firms A$250bn/y

StratMin raises £800 000 through share placement

By: Natalie Greve Graphite production and exploration company StratMin Global Resources has raised £800 000 through the placing of 11.42-million new ordinary shares of 4p each at a placing price of 7p a share with certain existing and new institutional investors. The placing followed the signing by the company of... 

StratMin raises £800 000 through share placement

Striking NUM to respond to revised Glencore offer on Thursday

By: Natalie Greve After embarking on a strike at Glencore’s Koornfontein operation over what it claimed were unfair deviations from the company’s standard retrenchment package, trade collective, the National Union of Mineworkers (NUM), will respond to a revised retrenchment settlement offer from the miner at the... 

IDP review under way to integrate mining towns

By: SANews, SA government news service The Inter-Ministerial Committee (IMC) that was established to revitalise distressed mining towns has mobilised municipalities to review their Integrated Development Plans (IDPs) to pave the way for new-look mining towns.   Mpho Ndaba, the Director: Revitalization of Distressed Mining Communities... 

IDP review under way to integrate mining towns

SA mining industry will look ‘very different’ in 20 years, says Baxter

By: Natalie Greve South Africa’s mining industry will continue to evolve over the coming decades, eventually transitioning into a mechanised, modernised and automated industry staffed by a highly skilled, well paid and lithe workforce, Chamber of Mines acting CEO Roger Baxter said on Wednesday. Describing the... 

SA mining industry will look ‘very different’ in 20 years, says Baxter
Photo by Duane Daws
Chamber of Mines acting CEO Roger Baxter

Independence keeps apace in Sept quarter

By: Esmarie Swanepoel Diversified miner Independence Group has reported a solid quarter for the three months to September, with its operations across Australia delivering on expectations. At the Tropicana gold joint venture, in Western Australia, a total of 1.5-million tonnes of ore, at an average grade of 2.82 g/t... 

Premier selects openpit strategy for early production at RHA

By: Natalie Greve Multicommodity explorer Premier African Minerals has outlined what it describes as a low-capital implementation strategy for its 49%-owned RHA tungsten project, in Zimbabwe. The Aim-traded miner said on Tuesday that the assessment of various implementation strategies to enhance project value and... 

Weakening commodity prices batter Metmar’s H1 margins

By: Natalie Greve The start of manganese sinter sales over the six months ended August 31, led to diversified commodities trader Metmar lifting its turnover by 11% to R1.03-billion for the period. However, a general decline in commodity prices, such as those for manganese and iron-ore, which, in the last 12 months... 

Metallica advances HMS project

By: Esmarie Swanepoel ASX-listed Metallica Minerals and its Chinese joint venture (JV) partner have started development work of the Urquhart Point heavy mineral sands (HMS) project, in Cape York, in which China's Ozore Resources owns a 33.33% interest following a A$5-million payment. Under the JV, Ozore Resources... 

BHP targets specific savings at core projects

By: Esmarie Swanepoel Mining giant BHP Billiton on Monday expanded on its projected $3.5-billion productivity gains, with CEO Andrew Mackenzie explaining that the simplified portfolio would reduce operating costs and improve capital efficiency. “We are confident that our productivity drive will be accelerated by the... 

LNG keeps Qld outlook positive beyond current coal slump

By: Esmarie Swanepoel The Queensland Resources Council (QRC) on Monday welcomed a positive outlook from advisory firm Deloitte Access Economics, which on Monday predicted that Queensland’s diverse resource sector would ensure that the state remained a front-runner for growth. Deloitte Access Economic’s latest... 

LNG keeps Qld outlook positive beyond current coal slump

Metals X reports strong quarter in tin and gold

By: Esmarie Swanepoel Metals miner Metals X on Monday told shareholders that its gold division had exceeded production expectations by more than 20% during the September quarter. The end of the September quarter marked the first-year anniversary of Metals X as a gold producer, with the miner announcing that it had... 

Lynas raising hits the mark

By: Esmarie Swanepoel ASX-listed rare earths miner Lynas on Monday announced that it had raised A$71-million through an entitlement offer, under which shareholders were able to subscribe for five new shares for every 14 held. The entitlement offer was announced at the end of September. 

Export earnings to decline in 2014/15, but outlook still positive – BREE

By: Esmarie Swanepoel Softer commodity prices would result in a 1.4% decrease to Australia’s mineral and export commodity earnings during 2015, the Bureau of Resources and Energy Economics (BREE) reported on Friday. During 2014/15, mineral and energy commodity export earnings would fall to A$192-billion, compared... 

Export earnings to decline in 2014/15, but outlook still positive – BREE

IFC backs Peak's rare earths project

By: Esmarie Swanepoel The International Finance Corporation (IFC) has signed on to ASX-listed Peak Resources’ Ngualla rare earths project, in Tanzania, by joining a consortium with Appian Natural Resources Fund. In September, Peak announced that Jersey-based private equity investor Appian had agreed to a total... 

Mining companies Down Under being forced to call in administrators, shed jobs as commodity prices decline

By: Esmarie Swanepoel While largely living up to its popular nickname the ‘Lucky Country’ by remaining relatively untouched by the global financial crisis, Australia – and more specifically its resources sector – has not been immune to falling commodity prices. The declining prices of coal and iron-ore, in particular,... 

Mining companies Down Under being forced to call in administrators, shed jobs as commodity prices decline

BHP sets sights on another $3.5bn in yearly productivity gains

By: Esmarie Swanepoel Mining giant BHP Billiton said on Friday that it was targeting further productivity gains, with the company operating more like an advanced manufacturer than a traditional resource company. “By the end of the 2017 financial year, we are targeting at least $3.5-billion of additional annualised... 

BHP sets sights on another $3.5bn in yearly productivity gains

Importance of developing cutting-edge mining technology stressed

By: Chantelle Kotze The future of mining through the eyes of the next generation places importance on working towards ensuring a sustainable future, by means of developing cutting edge mining technology and finely honed skills. 

Importance of developing cutting-edge  mining technology stressed
LOOKING FORWARD Developing cutting edge mining technology and relevant skills is important in ensuring productive future mines

Mining companies Down Under being forced to call in administrators, shed jobs as commodity prices decline

By: Esmarie Swanepoel While keeping its nomer as the ‘Lucky Country’ by remaining relatively untouched by the global financial crisis, Australia ¬– and more specifically its resources sector – has not been immune against falling commodity prices. The declining prices of coal and iron-ore, in particular, have had a... 

Mining companies Down Under being forced to call in  administrators, shed jobs as commodity prices decline

Mozambique eyes coal deal for tax consequences, approves power venture

By: Keith Campbell The Mozambique Tax Authority has been watching the recently concluded deal between Anglo-Australian miner Rio Tinto and Indian company International Coal Ventures Limited (ICVL), in which the former sold its subsidiary Rio Tinto Coal Mozambique (RTCM) to the latter for a reported $50-million.... 

South African CEOs being called upon to increase productivity, profits amid lack of funds, complex geology and labour unrest

By: Chantelle Kotze The role of the South African mining industry CEO is changing as they are being tasked on an ongoing basis with the high-pressure job of maintaining and creating value in an industry plagued with many challenges and demands, specifically maintaining and increasing productivity and remaining... 

South African CEOs being called upon to increase productivity, profits amid lack of funds, complex geology and labour unrest
Photo by Bloomberg
LIVING IN THE NOW The mining industry in South Africa is so caught up in the struggle to survive, in an era of collapsing prices, that it is difficult for management to think beyond the now and focus on the long term

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo

By: Martin Creamer Diversified mining company Anglo American on Thursday reported 12% lower coal production for South Africa’s State electricity utility Eskom, 31% less refined platinum production, 4% lower iron-ore exports and fewer diamond carats from South African diamond mines, in the three months to September... 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo
Photo by Duane Daws
Anglo CEO Mark Cutifani
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