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Diversified Miners News

Glencore bond tanks and scuppers Anglo's return

By: Reuters     25th March 2017 Anglo-Swiss miner Glencore sold its first US dollar bond in two years on Tuesday, but the deal tumbled after pricing as a global sell-off added to a backlash against the deal's tight spread. The $1-billion ten-year trade is the company's first since April 2015, and follows a recovery in... 

Govt rules out granting mining licences to zama-zamas as it seeks solutions to illegal mining

By: Ilan Solomons     24th March 2017 While government is committed to finding a reasonable solution to regulate the artisanal mining sector, in South Africa this will  only apply to surface projects, and not to those undertaken in underground areas by the many illegal miners referred to as zama-zamas, Mineral Resources Deputy... 

Govt rules out granting mining licences to zama-zamas as it seeks solutions to illegal mining
Mineral Resources Deputy Minister Godfrey Oliphant

Goodlace joins Kumba board

By: Natasha Odendaal     24th March 2017 Former Impala Platinum CEO Terence Goodlace has joined the board of JSE-listed Kumba Iron Ore as independent nonexecutive director with immediate effect. Goodlace also previously held the post of Metorex CEO and Gold Fields COO and executive VP and head of the international operations. Currently,... 

Miners regain mojo to spark $18bn in exploration hunt

By: Bloomberg     24th March 2017 A rebound in exploration by global miners could see spending hit $18-billion by 2025 with China the front runner in the search for a new generation of giant discoveries. Exploration budgets are rising after they plunged to an 11-year low of about $10-billion last year as mining companies slashed... 

Slow progress in payouts to former miners – Oliphant

By: African News Agency      24th March 2017 Deputy Mineral Resources Minister Godfrey Oliphant on Thursday conceded that efforts to reach out and compensate former mineworkers, many of whom from neighbouring countries, have not been satisfactory. In his keynote address at the Southern Africa Trust summit on social security and compensation... 

Rio awards A$900m in contracts as Amrun mine development progresses

By: Esmarie Swanepoel     24th March 2017 Production and shipping from the Amrun bauxite mine, in Queensland, is on track to start in the first half of 2019, with mining major Rio Tinto this week announcing the award of more than A$900-million of contracts to Queensland suppliers. Queensland Premier Annastacia Palaszczuk said Rio’s... 

Rio awards A$900m in contracts as Amrun mine development progresses

‘Barometer’ provides assessment of mineral resources industry transparency

By: Ilan Solomons     24th March 2017 Governments are challenged with creating new approaches to governance that enable them to better exploit the developmental potential provided by mineral resources. It is therefore imperative that countries establish regulatory frameworks and State capacity to ensure that mining activities are... 

‘Barometer’ provides assessment of mineral resources industry transparency
Photo by Duane Daws
FOUNDATION AND ENFORCEMENT MECHANISMS Establishment of regulatory frameworks and State capacity is needed to ensure mining is compatible with efforts to promote inclusive and sustainable development

‘Women, local communities must play greater role in mining’

By: Ilan Solomons     24th March 2017 Women must be encouraged and supported to play a greater role in Africa’s mining industries, states Zambian Mines, Energy and Water Development Minister Christopher Yaluma. The Minister, who was speaking at the Alternative Mining Indaba in Cape Town, last month, said that one of the greatest... 

‘Women, local  communities must play greater role in mining’
CHRISTOPHER YALUMA One of the greatest constraints women face in entering into the mining industry is in securing financing

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

By: Henry Lazenby     23rd March 2017 Canadian gold royalties and streaming firm Franco-Nevada Corp has recorded a 37.6% increase in revenue for 2016, boosted by record ounces delivered and soaring sales. The company, which derives income from 107 producing royalties and streams, achieved a 30.9% increase in gold-equivalent ounces... 

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

Vast takes full ownership of Romania mine

By: Megan van Wyngaardt     22nd March 2017 Aim-listed miner Vast Resources now owns 100% of the Manaila polymetallic mine, in Romania, following the completion of the acquisition of the remaining 49.9% of Sinarom Mining Group from vendor Ni Jin Ming. This follows the settlement of $1.14-million in debts associated with the company's... 

Anglo says South Africa reorganisation adds sale flexibility

By: Bloomberg     22nd March 2017 Anglo American said its decision to split some South African assets into a different subsidiary gives it the “flexibility” to dispose of its iron ore and export thermal coal assets should it decide to do so. The split, which was partly announced in February without reasons being given, means that... 

BHP buys back $2.5bn in bonds

By: Esmarie Swanepoel     22nd March 2017 Mining major BHP Billiton has repurchased $2.5-billion worth of bonds, allowing the miner to extend its average debt maturity profile and enhancing its capital structure. BHP this week announced the expiration of its tender offers for its $1.25-billion, 3.25% senior notes due in 2021, its... 

BHP buys back $2.5bn in bonds

Anglo American readies bond market return

By: Reuters     21st March 2017 Anglo American is poised to sell its first public bond since it was stripped of its investment-grade status last year following the shock capitulation of global commodity prices. The mining company, rated Ba1/BB+, is expected to sell a US dollar and/or euro-denominated bond on Wednesday, after... 

Big banks talking to Rio Tinto's specialist new Ventures arm

By: Reuters     21st March 2017 London bankers are vying for contracts after Rio Tinto said it had set up a new unit, Rio Tinto Ventures, to develop more specialised mining prospects as it seeks to reduce its reliance on bulk commodities, three banking sources said. The big miners have traditionally relied on producing... 

Striking union at BHP's Escondida says it is open to further conversations

By: Reuters     21st March 2017 The union for striking workers at BHP Billiton's Escondida in Chile, the world's largest copper mine, said after meeting with the company on Monday that it was open to further conversations that could lead to reopening negotiations. "At this time, both parties are doing their own evaluation.... 

Rio quietly optimistic over Trump’s infrastructure delivery promises

By: Esmarie Swanepoel     20th March 2017 Mining giant Rio Tinto is quietly optimistic about the ability of US President Donald Trump to deliver on his infrastructure promises, driving demand for Rio’s products. Speaking on CNBC, Rio CEO Jean-Sebastian Jacques said a team from Rio had recently met with “key influencers and key... 

Union at Chile's Escondida slams new offer from management

By: Reuters     20th March 2017 The labor union at the world's largest copper mine, BHP Billiton's Escondida in Chile, called a fresh offer of talks by management to end a 39-day strike "manipulative." The union told Reuters on Sunday that it will decide whether to attend a meeting with the company after holding two assemblies... 

TSX ends down as financials, commodity stocks retreat

By: Reuters     17th March 2017 Canada's benchmark stock index fell on Friday as financial stocks lost ground along with bond yields and as natural resource companies pulled back despite an uptick in commodity prices. The heavyweight financials group lost 0.6%, with insurance company Manulife Financial down 1.5% at C$24.13 and... 

Vedanta already turning Anglo’s discarded zinc assets to account 

By: Martin Creamer     17th March 2017 Diversified mining company Vedanta, which is being associated with the acquisition of 13% of the equity of Anglo American by Volcan Investments because of the link both these entities have with Indian billionaire Anil Agarwal, has done well with the South African assets it acquired from Anglo... 

Vedanta already turning Anglo’s discarded zinc assets to account
Flashback video: Vedanta's Zinc International CEO Deshnee Naidoo updates Mining Weekly Online’s Martin Creamer on the Gamsberg zinc project. Video and Video Editing: Nicholas Boyd.

Premier completes installation of XRT sorter at RHA mine

By: Megan van Wyngaardt     17th March 2017 Aim-listed Premier African Minerals has completed the installation of an X-ray transmission (XRT) sorter at its RHA tungsten mine, in Zimbabwe. The company is optimising and integrating the sorter into the mine’s crushing circuits. 

Bushveld getting closer to concluding SMC acquisition

By: Megan van Wyngaardt     17th March 2017 Aim-listed Bushveld Minerals is inching closer to its acquisition, through its Bushveld Vametco subsidiary, of a 78.8% interest in Strategic Minerals Corporation (SMC) from Evraz Group. This follows after both SMC and American metals service centre Sojitz Noble Alloys Corporation agreed to waive... 

Anglo's billionaire investor puts mining on cusp of M&A era

By: Bloomberg     17th March 2017 Anil Agarwal’s surprise move into Anglo American suggests the mining industry may be on the cusp of a new wave of deals. For years, Anglo has been the subject of takeover speculation and during the worst of the commodities crisis it seemed on the verge of a breakup. It spent last year getting... 

Anglo's billionaire investor puts mining on cusp of M&A era
Photo by Bloomberg
Anil Agarwal

Australian miners issue encouraging reports from their African operations

By: Keith Campbell     17th March 2017 Australian junior mining companies active in Lusophone Africa have reported good news from both Angola and Mozambique. The companies concerned are the Lucapa Diamond Company, operating in Angola, and Mustang Resources, active in Mozambique. Lucapa has announced that total diamond sales to date... 

Commodities supply shortfall looming following years of underinvestment

By: Ilan Solomons     17th March 2017 Several years of little or no investment in exploring for and developing new mining projects has resulted in the emergence of an impending commodity supply cliff in a number of resource sectors, says professional services firm EY Africa mining and metals transactions leader Quintin Hobbs.... 

Commodities supply shortfall looming following years  of underinvestment
Photo by Duane Daws
SEEKING A CHAMPION More ‘brave companies’ need to emerge, breaking out of the ‘boom or bust mentality’ by pushing their boards to unlock funds for the development of new projects

Former Anglo head offers advice to mining’s future leadership

By: David Oliveira     17th March 2017 Global conglomerate Vedanta chairperson Cynthia Carroll discussed some of her career highlights and how she overcame challenges in the mining industry working environment at this year’s Women in Mining conference, which took place last month in Johannesburg. The former Anglo American CEO focused... 

Take community engagement seriously, ARM’s Motsepe advises 

By: Martin Creamer     16th March 2017 The South African mining industry must take community engagement extremely seriously to prevent this country’s global competitiveness from being negatively impacted, African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe urged on Thursday. Speaking at question time after ARM... 

Take community engagement seriously, ARM’s Motsepe advises
Mining Weekly Online’s Martin Creamer on African Rainbow Minerals executive chairperson Patrice Motsepe’s presentation of interim results. Video and Video Editing: Nicholas Boyd.

Smaller mining companies seek IPOs but deals remain modest

By: Reuters     16th March 2017 Stock market flotations of smaller mining and metals companies are set to pick up this year, although a return to the flood of deals five or six years ago remains unlikely while investors rebuild their bruised confidence in the sector. A continued rally in metals prices is galvanising some firms... 

Anglo's future thrown in question as billionaire grabs stake

By: Bloomberg     16th March 2017 In its 100-year history, Anglo American Plc has endured commodities booms and busts, South African apartheid and bitter boardroom disputes. Now the British mining giant is threatened by the ambitions of Anil Agarwal, an Indian scrap-metal trader turned billionaire mining tycoon. In a surprise... 

Anglo's future thrown in question as billionaire grabs stake
Photo by Bloomberg
Anil Agarwal

Peugeot's Tavares and Anglo American's Cutifani to join Total board

By: Reuters     16th March 2017 French oil and gas company Total plans to appoint Mark Cutifani, CE of mining group Anglo American, and Carlos Tavares, chairperson of French carmaker Peugeot, as independent directors. Cutifani will bring his knowledge of industry and the raw materials sector to the board, while Total will also... 

Escondida copper mine in Chile says to restart operations

By: Reuters     15th March 2017 The Escondida copper mine in Chile plans to restart operations after striking workers again rejected an invitation by controlling owner BHP Billiton to return to negotiations, an executive told reporters late Tuesday. The world's largest copper mine will first resume work in two areas of the... 

Silver Wheaton remains a unique offering in uncertain times 

By: Henry Lazenby     13th March 2017 As the tide turns in the resource investment space, a renewed focus on project development sees many juniors looking for cash to fund their project development goals. The world’s largest precious metals streaming firm Silver Wheaton believes it has the answer for the right junior firms: its early... 

Silver Wheaton remains a unique offering in uncertain times
Silver Wheaton president and CEO Randy Smallwood discusses the company's strategy for acquiring metal streams. Video: Henry Lazenby; Editing: Lionel da Silva.

Glencore hires Morgan Stanley banker as it targets investments

By: Reuters     13th March 2017 Glencore has hired a senior banker from Morgan Stanley, two sources familiar with the matter told Reuters, as the mining giant looks at investments and acquisitions again after two years of belt tightening due to low commodities prices. The Zug, Switzerland-based company has hired Cyrus... 

Anglo American plans pay cap after shareholder revolt

By: Reuters     13th March 2017 Major miner Anglo American is set to cap executive bonuses, it said on Monday, following a shareholder revolt last year over high payouts even when the company's share price had crashed. In its annual report, Anglo American said on Monday it would reduce maximum annual bonuses for CE Mark... 

A catalyst for innovation, Goldcorp pushes the envelope on technological advances

By: Henry Lazenby     11th March 2017 Canadian gold major Goldcorp is acting as a catalyst to bring innovation into the mining industry, an industry traditionally loathe to adopt new technologies that could ultimately improve the bottom line. As exemplified in its leading role in sponsoring the #DisruptMining competition during the... 

A catalyst for innovation, Goldcorp pushes the envelope on technological advances
Photo by Goldcorp
Goldcorp’s existing policies promote diversity in the work place

ANC says law-making powers trump courts in South Africa mine ownership fight 

By: Bloomberg     10th March 2017 South Africa’s ruling party said mining companies should seek agreement with the government over ownership rules rather than challenging them in court because even if they win a legal battle, legislation can still be changed to further the aim of spreading wealth to the nation’s black majority.... 

ANC says law-making powers trump courts in South Africa mine ownership fight
Photo by Duane Daws
ANC economic policy head Enoch Godongwana

Certification grows company’s sales, ups market share

By: Victor Moolman     10th March 2017 Valve and steel supplier Stewarts & Lloyds South Africa (S&L SA) has grown its market share in South Africa after receiving South African National Standards (SANS) certification for its RSV gate valves, reporting a 40% increase in SANS-approved valve sales since receiving certification last year. 

Certification grows  company’s sales,  ups market share
SERVICE DELIVERY Stewarts & Lloyds attributes its strategically located branch network to always being able to ensure minimal downtime for customers

Form partnerships and seek community acceptance, mines urged

By: Ilan Solomons     10th March 2017 Forming partnerships and social acceptance by communities are the two key factors miners need to ensure to promote sustainability in the mining industry, says University of Cape Town Department of Chemical Engineering Minerals to Metals Initiative chief research officer Professor Jennifer... 

Form partnerships and seek community acceptance, mines urged
PERCEPTION PROBLEMS Anti-mining lobbyists argue that mining companies purposefully divide communities and 'corrupt' their leaders to ensure that mining projects receive local endorsement

African mining delegation closes TSX

By: Henry Lazenby     9th March 2017 An African mining delegation, comprising government officials and mining companies, rang the closing afternoon bell of the TSX on Wednesday afternoon during the yearly Prospectors and Developers Association of Canada international convention. The delegations joined TMX Group global equity markets... 

African mining delegation closes TSX
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