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Diversified Miners News

BHP second-quarter iron-ore output up 3%, maintains forecast

By: Reuters     18th January 2018 Global miner BHP on Thursday reported a 3% rise in second-quarter iron-ore production year over year and said it expects to meet its full-year target as prices for the steelmaking ingredient outperform forecasts. BHP's iron-ore output climbed to 72-million tonnes for the three months ended... 

Canadian miners welcome new federal business ethics ombudsman

By: Henry Lazenby     18th January 2018 Canada’s Liberal government has introduced a new federally mandated Ombudsman for Responsible Enterprise (CORE) to investigate human rights complaints about the overseas operations of Canadian companies. The watchdog will investigate complaints, and if warranted, make recommendations to remedy... 

Canadian miners welcome new federal business ethics ombudsman

Vale could be 'natural' owner for Samarco, in talks with BHP

By: Reuters     17th January 2018 Brazil's Vale is in talks with BHP Billiton on options for their joint venture Samarco, and it may be easier for Vale to resolve that miner's problems as sole owner, a director of the Brazilian mining company said on Wednesday. "Maybe Vale would be a natural owner of Samarco, maybe it could make... 

DRA expands Asia-Pacific footprint

By: Martin Creamer     17th January 2018 Global engineering, project delivery, contract operations specialist and asset management group DRA’s acquisition of Perth-based Minnovo expands its Australian footprint and adds depth to its metallurgical, engineering, procurement, project management, construction and commissioning capabilities... 

DRA expands Asia-Pacific footprint
Photo by Duane Daws
DRA CEO Wray Carvelas

South32 boasts record manganese, aluminium production in December quarter

By: Megan van Wyngaardt     17th January 2018 Triple-listed diversified miner South32 on Wednesday reported that, while it had achieved its guidance for all its operations during the three months to December 31, its South African manganese operations, in particular, exceeded expectations, owing to strong market demand. Saleable ore... 

South32 boasts record manganese, aluminium production in December quarter
Photo by Bloomberg
South32 CEO Graham Kerr

NextSource soars on Japanese approval of registered SuperFlake product trademark

By: Henry Lazenby     17th January 2018 The TSX-listed equity of one of the graphite industry’s best kept secrets, NextSource Materials, has recorded significant gains on Tuesday following a company announcement that Japan has approved the company’s registration of ‘SuperFlake’ graphite as a trademark in the country. The registration... 

NextSource soars on Japanese approval of registered SuperFlake product trademark
Photo by NextSource Materials
A representation of how NextSource Materials' Madagascar-based Molo modular plant will look like

Miners bolster senior ranks in preparation for fast-paced 2018

By: Henry Lazenby     16th January 2018 Several Canadian listed miners reported senior management changes on Tuesday. Marine mining hopeful Nautilus Minerals announced Tuesday that Tariq Al Barwani has been appointed to the role of nonexecutive chairperson. Al Barwani joined the board in May 2016. He is a director and shareholder of MB... 

November mining figures impress, but volatility seems to be on the cards

By: Megan van Wyngaardt     16th January 2018 While the local November mining production statistics showed a relatively solid increase by 6.5% year-on-year, bolstered by platinum group metals (PGMs), iron-ore and coal, the longer-term prospects for the industry remain less certain, owing to a difficult operating environment and policy... 

New indaba seeks to clear logistics, infrastructure challenges

By: Megan van Wyngaardt     16th January 2018 The Cross-Border Mining Services Africa Indaba, which aims to bring senior-level professionals from mining companies, as well as mining contractors; engineering, procurement and construction management companies; logistics companies; third- and fourth-party logistics providers; and finance and... 

Rio Tinto maintains fourth-quarter guidance across the board

By: Anine Kilian     16th January 2018 Global miner Rio Tinto reported on Tuesday that it had met its iron-ore shipment guidance for the three months ended December 31, 2017, noting a 1% rise in shipments for the year to 330.1-million tonnes. "The business performed well in the fourth quarter and we finished the year in line with... 

Rio Tinto maintains fourth-quarter guidance across the board

RNC in talks with financiers, market participants for Dumond construction decision by 2019

By: Henry Lazenby     15th January 2018 Diversified Canadian miner RNC Minerals is engaging a number of potential strategic investors, offtake partners and financiers who could provide the $1.3-billion capital financing required to start construction of the shovel-ready Dumont nickel/cobalt project, in the Abitibi region of Quebec. The... 

RNC in talks with financiers, market participants for Dumond construction decision by 2019
Photo by RNC Minerals
Dumont nickel buttons

Glencore reserves should be valued higher – analysts

By: Martin Creamer     15th January 2018 Investors should be prepared to value the reserves of metal that Glencore owns more highly to reward the proactive approach that the London- and Johannesburg-listed diversified mining company has towards managing its assets. Reflecting on the decision of Glencore to pull metal from the market... 

Glencore reserves should be valued higher – analysts
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Glencore shrinks job of billionaire copper head amid Congo probe

By: Bloomberg     15th January 2018 Glencore reduced the role of its billionaire head of copper, Aristotelis Mistakidis, shaking up the business after a review in the Democratic Republic of Congo raised questions about accounting and management. Mistakidis, one of Glencore’s largest shareholders and a key lieutenant of CEO Ivan... 

India’s draft national mineral policy proposes exploration incentives

By: Ajoy K Das     15th January 2018 India’s Mines Ministry has unveiled the draft National Mineral Policy (NMP) 2018, which proposes to offer mineral exploration companies the right of first refusal at the auction of any area explored by them. The draft NMP, which is now open for feedback from industry and stakeholders, maintains... 

GMEL looking to simplify refining at Kvanefjeld rare earths project

By: Megan van Wyngaardt     15th January 2018 A technical optimisation programme, currently being undertaken at the Kvanefjeld project, in Greenland, has identified significant improvements at the project, Greenland Minerals and Energy (GMEL) reported on Monday. The optimisation programme, which is being carried out in collaboration with... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia 

By: Martin Creamer     12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia
Industrial Development Corporation research and information head Jorge Maia and Unctad economic affairs officer Stefan Csordas respond to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Mining profits are super-charged and BlackRock wants to get paid

By: Bloomberg     12th January 2018 The world’s mining sector is firing on all cylinders again, and one of it’s biggest investors can’t wait to get paid. After five years of under-performance, a combination of synchronous global growth and under-investment in new supply has driven up commodity prices, increasing cash flow and... 

Strong commodity price rally lifts IHS Materials Price Index for ninth consecutive week

By: Henry Lazenby     12th January 2018 The IHS Materials Price Index (MPI) is in its ninth consecutive week of gains, jumping 2.8% last week – the strongest weekly performance since early September. According to IHS Markit economist Cole Hassay, the MPI was supported by broad-based positive indicators, with eight of ten subcomponents... 

Cobalt and 11% yields lure risk-takers to this Canadian miner

By: Bloomberg     10th January 2018 Sherritt International Corp’s double-digit bond yields are beginning to lure investors, even as questions linger about whether the Canadian miner has unloaded enough debt and turned around its sputtering projects. The Toronto-based firm restructured its Ambatovy mining joint venture, in... 

Cobalt and 11% yields lure risk-takers to this Canadian miner
Photo by Sherritt International
Ambatovy, Madagascar

Rio Tinto receives offer for aluminium smelter

By: Martin Creamer     10th January 2018 Diversified mining company Rio Tinto has received a binding offer from Liberty House to acquire Rio Tinto’s Aluminium Dunkerque smelter in northern France for $500-million. In accordance with French law, the London-listed company will launch a consultation process with employees, relevant... 

Rio Tinto receives offer for aluminium smelter
Rio Tinto Aluminium CE Alf Barrios

Liberty House makes binding offer for Rio Tinto's French aluminium smelter

By: Reuters     10th January 2018 Liberty House, the industrial arm of British steel tycoon Sanjeev Gupta's GFG Alliance, said on Wednesday it had made a binding offer for miner Rio Tinto's, aluminium smelter in Dunkerque, France, the largest in Europe. The group did not disclose an offer price but said the move was part of a... 

Liberty House makes binding offer for Rio Tinto's French aluminium smelter
Rio Tinto CEO Jean-Sebastien Jacques is moving to divest all but the company's best-performing units.

BCI Minerals signs MoU with Sinosteel to develop Buckland

By: Megan van Wyngaardt     10th January 2018 Australian iron-ore miner BCI Minerals has signed a non-binding memorandum of understanding (MoU) with Sinosteel Australia to support the development of BCI's 100%-owned Buckland project in the West Pilbara region. The project comprises proposed mines, a private haul road and a new port at Cape... 

Burkina Faso project acquisition opens multi-metal opportunity – Pegasus

By: Megan van Wyngaardt     10th January 2018 ASX-listed Pegasus Metals on Wednesday announced that it would buy Scorpion Minerals, which holds the rights to acquire up to a 70% joint venture (JV) interest in the Dablo palladium/platinum/gold/nickel/copper exploration project, located in Burkina Faso for A$360 000. This will be paid through... 

Burkina Faso project acquisition opens multi-metal opportunity – Pegasus

Stellar finds ‘attractive’ bolt-on for Heemskirk tin project

By: Megan van Wyngaardt     10th January 2018 Exploration and development company Stellar Resources has added to its portfolio of Tasmanian tin properties with the recent grant of an exploration licence at the Mount Razorback prospect. The licence is located 10 km to the east of Stellar’s Zeehan mineral resource, and has an unsealed road... 

Talisman Mining expands NSW landholding

By: Megan van Wyngaardt     9th January 2018 ASX-listed Talisman Mining on Tuesday said it would expand its landholding in the prospective Lachlan fold belt of New South Wales through a farm-in agreement with private company Bacchus Resources and a purchase agreement with ASX-listed Kidman Resources. Under the agreements, Talisman may earn... 

Commodities forge record-setting rally as BP to miners surge

By: Reuters     4th January 2018 Commodities are forging a record-setting run of gains that straddles the end of 2017 and the start of the new year as crude oil notches multiyear highs and investors bet that booming global manufacturing output will help to sustain rising demand for raw materials. The Bloomberg Commodity Index,... 

Commodities forge record-setting rally as BP to miners surge

Largo racks up new production records at Maracás Menchen as vanadium price rockets

By: Henry Lazenby     4th January 2018 Vanadium producer Largo Resources has set a new monthly production record at its flagship Maracás Menchen vanadium mine, in Brazil’s Bahia state, after the plant performing 12.9% above its nameplate capacity. Toronto-based Largo advised that the performance improvement is owing to the operating... 

Australia shares end higher; NZ starts 2018 on strong note

By: Reuters     3rd January 2018 Australian shares closed higher on Wednesday, supported by gains in material stocks on the back of a rally in metal prices. 

Australia shares end higher; NZ starts 2018 on strong note

Year's best commodities fund is betting on 2018 mining M&A

By: Bloomberg     29th December 2017 This year’s best-performing commodity fund is betting on more mining companies turning to deal-making for growth in 2018. Commodity Capital Global Mining Fund racked up returns of 106% this year, the best performance among 409 commodity-focused funds tracked by Bloomberg, excluding... 

Year's best commodities fund is betting on 2018 mining M&A

Mechel secures backing of 70% of its $1bn loan holders for restructuring – two sources

By: Reuters     22nd December 2017 Russian metals and mining giant Mechel has secured the backing of around 70% of its $1-billion syndicated loan holders essential for a restructuring deal, two sources familiar with the situation said. A 75% share of votes is required to reach a deal, one of the sources said. Mechel declined to... 

Money hungry Nautilus weighs funding options as project challenges mount

By: Henry Lazenby     22nd December 2017 Marine mining pioneer Nautilus Minerals is in active discussions with a range of potential financiers and shareholders to secure the funding required to start mining the Solwara 1 project, offshore Papua New Guinea (PNG), the company said on Thursday. The company has thus far been unsuccessful to... 

Money hungry Nautilus weighs funding options as project challenges mount

African Tantalum gears mine towards future tantalum deliveries

By: Megan van Wyngaardt     21st December 2017 African Tantalum has sent its third shipment of high-purity tantalum from the Namibia tantalite investment mine (NTI) to its customer, a global North American tantalum consumer and end-user of tantalum ore, with a fourth shipment currently being tested by a third party before being sent. Aftan,... 

Bushveld Minerals completes acquistion of BVL

By: Megan van Wyngaardt     21st December 2017 Aim-listed Bushveld Minerals has completed its acquisition of 55% of Bushveld Vametco by issuing 54.76-million new ordinary share to Yellow Dragon Holdings. “We are delighted to have completed this acquisition before the end of the year. Vametco has, to date, illustrated its strong cash... 

Bushveld Minerals completes acquistion of BVL
Photo by Duane Daws
Fortune Mojapelo

Chad, Glencore talks to renegotiate $1bn loan fail again

By: Reuters     20th December 2017 A delegation from Chad and commodities trader Glencore failed to reach a deal to restructure a more than $1-billion oil-backed loan after another round of talks in Paris that ended this week, a source familiar with the matter said. Glencore lent the west African country's state oil firm SHT... 

Philippines miners adopt Canadian mining sustainability principles

By: Henry Lazenby     20th December 2017 The Chamber of Mines of the Philippines (COMP) has announced that it will adopt a mining sustainability standard developed by the Mining Association of Canada, called the Towards Sustainable Mining (TSM) initiative. The announcement made the Philippines the first Southeast Asian nation to adopt... 

Rio recalibrating understanding of Africa, working on Africa strategy 

By: Martin Creamer     19th December 2017 Diversified mining company Rio Tinto is recalibrating its understanding of Africa and working on an Africa strategy that is scheduled to be presented to the company’s executive committee next year. The company, which has the Rössing Uranium Mine in Namibia, Richards Bay Minerals (RBM) in South... 

Rio recalibrating understanding of Africa, working on Africa strategy
Rio Tinto VP Corporate Relations Africa Lawrence Dechambenoit talks to Mining Weekly Online’s Martin Creamer on Rio Tinto’s activities in South Africa and Africa. Photographs: Duane Daws. Video: Nicholas Boyd. Video Editing: Lionel de Silva

Miners to focus on M&A activity, sustainability in year ahead

By: Megan van Wyngaardt     18th December 2017 Nearly two-thirds, or 63%, of mining and metals respondents to the latest EY Capital Confidence Barometer (CCB) say they intend to pursue deals in the next 12 months, demonstrating a higher inclination to transact than the average across all industries (56%). The findings support the EY third... 

Vast CEO resigns

By: Megan van Wyngaardt     18th December 2017 Aim-listed miner Vast Resources’ CEO and director Roy Pitchford has resigned from his position, effective December 31.  Vast's Romanian subsidiary president Andrew Prelea will assume the role of Vast CEO. Vast chairperson Brian Moritz noted that Pitchford has had an invaluable contribution to the... 

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