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Diversified Miners News

Rio reports fatality in the Pilbara

By: Esmarie Swanepoel     16th August 2018 Mining major Rio Tinto has reported a fatality at its Paraburdoo mine, in the Pilbara. A spokesperson for the company told Mining Weekly Online that the incident is being investigated by the relevant authorities, with the full cooperation of the company. 

Exxaro H1 profit lifts boosted by coal performance

By: Reuters     16th August 2018 Exxaro Resources said on Thursday half-year profit rose 8%, boosted by a strong performance in its core coal business. Diluted headline earnings per share (HEPS) for continuing and discontinued operations rose to 953 cents per share for the six-month period ended June 30 2018, from 882 cents in... 

Ghana President to address delegates at Mining Indaba 2019

By: Marleny Arnoldi     15th August 2018 Ghana President Nana Akufo-Addo will speak at the 2019 Investing in African Mining Indaba, which will be held at the Cape Town International Convention Centre from February 4 to 7. Ghana is considered one of the major mining centres on the African continent; therefore, with Akufo-Addo speaking,... 

Ghana President to address delegates at Mining Indaba 2019
Photo by Reuters
Ghana President Nana Akufo-Addo

Japan utilities, Glencore set annual coal contract at $110/t – sources

By: Reuters     14th August 2018 Japanese utilities and global mining giant Glencore have settled an Australian thermal coal import contract for April 2018 to March 2019 at $110/t, according to several people with knowledge of the matter. The deals were struck between Glencore and Japanese utilities such as Shikoku Electric,... 

Terramin refinances standby term facility

By: Esmarie Swanepoel     14th August 2018 ASX-listed Terramin Australia has struck a refinancing deal with shareholder Asipac Group to restructure a standby term facility. The existing unsecured facility has now been increased from A$3.25-million to A$5.25-million on similar terms and will be secured in accordance with the terms of the... 

Premier African Minerals’ RHA tungsten mine almost back to production

By: Marleny Arnoldi     13th August 2018 Aim-listed Premier African Minerals is fast progressing towards bringing its RHA tungsten mine, in Zimbabwe, back into production in the coming weeks. Operations were halted towards the end of last year amid cash flow constraints.  

Ivanhoe advances projects in ‘productive’ Q2

By: Marleny Arnoldi     13th August 2018 Canadian miner Ivanhoe Mines had a productive second quarter ended June 30, with underground development at the planned initial copper mine at Kakula, in the Democratic Republic of Congo (DRC), making steady progress. The mine is expected to reach the high-grade copper mineralisation later this... 

Ivanhoe advances projects in ‘productive’ Q2
Ivanhoe's Platreef exploration

Mustang to raise A$2.4m in private placement

By: Marleny Arnoldi     13th August 2018 ASX-listed Mustang Resources will raise about A$2.4-million through a private placement to advance its Caula vanadium/graphite project, in Mozambique, and for general working capital. Of this amount, A$2.18-million will be raised through the issue of about 158.6-million shares at $0.01374 apiece.  

South32 completes Arizona buy

By: Esmarie Swanepoel     13th August 2018 Diversified miner South32 has completed the $1.3-billion acquisition for the remaining 83% share in TSX-listed Arizona Mining. The Canadian firm has now been delisted from the TSX, and will cease to be a reporting issuer under the Canadian securities law. 

Strong sales growth lifts Silvercorp earnings

By: Nadine James     10th August 2018 In its financial and operating results for the first quarter ended June 30, Canada-based, China-focused Silvercorp Metals on Thursday reported a net income of $10.9-million and a 25% increase in cash flow on the back of a 14% increase in sales. The company achieved sales of $45.1-million, up... 

CITIC loans Ivanhoe $100m

By: Anine Kilian     10th August 2018 CITIC Metal Group has provided Ivanhoe Mines with an interim  loan of $100-million in accordance with a term loan facility that is an integral part of the long-term strategic cooperation and investment agreement  between Ivanhoe and CITIC Metal. The interim  loan is subject to an annual interest... 

BHP says Brazil court approves Samarco settlement

By: Reuters     10th August 2018 Mining heavyweight BHP said on Thursday a federal court in the Brazilian state of Minas Gerais approved an agreement between miner Samarco and Brazil authorities, marking a milestone in the legal battle over a deadly 2015 dam failure. A 20-billion reais ($5.- billion) lawsuit against Samarco,... 

Australia remains competitive in drillhole technology use

By: Donald Makhafola     10th August 2018 Australia is often regarded as the battleground for new technologies, and is well recognised as an early adopter, says Australia-based supplier of drill-hole navigation and measurement equipment Axis Mining Technology director Paul Wilkie. “Following the post-boom gloom, we are now seeing... 

Australia remains competitive in drillhole technology use
DRILLING SOLUTION Mining and drilling companies regard Axis' high-end north-seeking Champ Gyro technology as essential for their drilling projects

Explorer pursues manganese opportunities

10th August 2018 Perth-based explorer Bryah Resources is looking towards mining manganese in Western Australia, as it assesses development opportunities at the Horseshoe South manganese mine. The company has locked in an exclusive one-year option to purchase the mining lease covering the historical Horseshoe... 

Explorer pursues manganese opportunities
EXPLORATION INTEREST Bryah Resources MD Neil Marston at Horseshoe South mine near Meekatharra in Western Australia

Increased exploration spend boosts services demand

By: Donald Makhafola     10th August 2018 Mining activities and the number of exploration projects in Australia have been steadily increasing since 2017, and this has, subsequently, resulted in an increased demand for South African airborne geophysics technology provider Spectrem Air’s services, says Spectrem Air GM Louis Polomé.... 

Increased exploration spend boosts  services demand
INTERNATIONAL ATTENTION Spectrem Air is focused on international projects, especially in Australia, where exploration spend is steadily increasing

Miner pours first gold, progresses exploration

10th August 2018 Australian junior Mincor Resources’ wholly-owned Widgiemooltha gold project, in Western Australia, has poured first gold. Mincor holds nickel and gold assets with estimated mineral resources and ore reserves for each commodity, in the Kambalda district of Western Australia, which is a major... 

Miner pours first gold, progresses exploration
Photo by Bloomberg
GO FOR GOLD Mincor Resources pours first gold at its Widgiemooltha gold project in Western Australia

Greenfield exploration essential to Australia

By: Donald Makhafola     10th August 2018 Greenfield exploration expenditure in Australia has declined in absolute terms and as a share of total exploration expenditure over the past decade; this must be reversed to attract greater mining investment and continue receiving the economic benefits derived from mining, says association for... 

Greenfield exploration essential to Australia
Photo by Bloomberg
MINING LIMITATION Australia's mining sector is constrained by over-regulation, red tape and duplicated environmental laws across most jurisdictions

Barloworld Equipment launches next-generation excavators in the Southern African market

By: Nadine James     10th August 2018 Southern African dealer for Cat earthmoving equipment Barloworld Equipment officially launched three new Cat excavator models – the 320, 320GC and 323 – at an event held at the Nasrec Exhibition Centre, last week. All three boast increased operating efficiency, lower fuel and maintenance costs as... 

Barloworld Equipment launches next-generation  excavators in the Southern African market
CAT 323 Delivering high production performance, the new Cat 323 boasts standard integrated Cat Connect Technology and the most power and lift capacity in the line

Mafube colliery trialling use of mining-impacted water for agriculture

By: Nadine James     10th August 2018 Anglo American Coal South Africa’s Mafube colliery has been selected as the first trial site to determine the long-term sustainability of using mine-impacted water in agriculture. While irrigation with perceived poor-quality water frequently occurs in arid countries such as Israel, the South... 

Mafube colliery trialling use of  mining-impacted water for agriculture
Photo by Bloomberg
AMAZING EFFORT The first maize crop was irrigated with water from the Mafube pit and has since been harvested. The area yielded 14.5 t/ha, compared with 8t/ha from dryland crops

Mining should bolster environmental, social sustainability

By: Donald Makhafola     10th August 2018 The Australian mining industry’s challenges pertain to environmentally sustainable practices, rather than community sustainability, which is the case in the African mining industry, says global engineering consulting firm Aurecon Brisbane technical director Andrew Keith. “However, in places such... 

Mining should bolster environmental,  social sustainability
Photo by Bloomberg
COOPERATION CONSCIOUSNESS Many mining companies now recognise the benefits of proactive early engagement with their affected communities

BHP reaches $50m settlement in US lawsuit

By: Esmarie Swanepoel     9th August 2018 Mining major BHP has reached a $50-million settlement on a class action filed in the US District Court in New York regarding the Samarco dam failure, in 2015. The settlement comes with no admission of liability from the miner, and was still subject to approval by the District Court. 

BHP reaches $50m settlement in US lawsuit

Exxaro expects to report higher H1 earnings

By: Anine Kilian     8th August 2018 Diversified miner Exxaro Resources expects to report a 41% to 54% year-on-year increase in attributable earnings per share (AEPS) for the six months ended June 30. The company on Wednesday said its AEPS are likelty  to be between R12.05 and R13.15, compared with the R8.52 reported for the six... 

Glencore closing in on oil deal, transacting with Eskom

By: Martin Creamer     8th August 2018 The local downstream oil investments of diversified mining and marketing company Glencore are expected to be concluded in the near future. Talking during a media conference after the Johannesburg- and London-listed company posted outstanding half-year results that won analyst applause, Glencore... 

Glencore closing in on oil deal, transacting with Eskom
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

ABM to acquire Cameroon, Côte d’Ivoire base metals assets

By: Nadine James     8th August 2018 Aim-listed African Battery Metals (ABM) has conditionally agreed to acquire Cobalt Blue Holdings (CBH) and Regent Resources Interests Corporation (RRIC), which hold highly prospective base metals exploration assets in Cameroon and Côte d’Ivoire, respectively. CBH holds four prospecting licences... 

Glencore darts ahead of diversified rivals

By: Martin Creamer     8th August 2018 The strength of the business model and commodity mix of mining and marketing company Glencore has been demonstrated once again by sharp increases in earnings and net income in the six months to June 30. The earnings before interest, taxes, depreciation and amortisation (Ebitda) of the 146... 

Glencore darts ahead of diversified rivals
Glencore CEO Ivan Glasenberg

Glencore's poised for record profit despite horrible year

By: Bloomberg     7th August 2018 Glencore may have had a nightmarish year so far, but the world’s top commodity trader is still raking in mountains of money. The company is facing a US corruption probe, got mired in a dispute with its billionaire former partner in the Democratic Republic of Congo and has been caught in the... 

Mining convention for Nordgold’s Lefa mine renewed

By: Simone Liedtke     6th August 2018 Republic of Guinea President Alpha Condé has signed the Decree of Promulgation of the Amendment Agreement for the renewal of the mining convention for diversified gold producer Nordgold subsidiary Société Minière de Dinguiraye’s (SMD’s) Lefa mine. The mining convention determines the taxation and... 

Vedanta delivers strong Q1 Ebitda

By: Simone Liedtke     6th August 2018 Diversified miner Vedanta Resources on Monday announced that it had delivered strong earnings before interest, taxes, depreciation and amortisation (Ebitda) and drove steady margins in the first quarter of the 2019 financial year. The margins, the miner highlighted, were driven by record volumes... 

Rising oil prices threaten to erode mining sector's profitability

By: Reuters     6th August 2018 Rising oil prices are the latest challenge to the mining sector's profitability, threatening to eclipse hard-fought efficiency gains during the past two years and increasing metals demand. Miners use heavy fuel oil to generate electricity at remote sites; they also use it for transport, with... 

Rising oil prices threaten to erode mining sector's profitability

Brazil mining exports to rise 2.5% in 2018 – Ibram

By: Reuters     6th August 2018 Brazil's mineral exports are expected to rise 2.5% in 2018 compared with the previous year to 410-million tonnes, as investment in the sector is projected to grow, industry group Ibram said on Friday. By value, mineral exports are expected to increase to $30-billion from $28.37-billion last... 

Erudite adopts a fresh approach to transformation 

By: Nadine James     3rd August 2018 Becoming a sustainable and relevant mining industry service provider requires a genuine effort to meet and address issues of localisation and transformation, while fostering local partnerships to develop extractive projects in African countries, suggests engineering, procurement and construction... 

Erudite adopts a fresh approach to transformation
Erudite chairperson Vince Raseroka and CE Johann de Bruin discuss the need for an African-focused EPCM mining services provider. Video: Darlene Creamer; Editing: Nicholas Boyd

Coeur expands historical Nevada focus with Northern Empire buy

By: Mariaan Webb     2nd August 2018 NYSE-listed Coeur Mining on Thursday announced that it would buy Northern Empire, which owns high-grade heap-leachable deposits in Nevada, in a recommended transaction that values the TSX-V-listed junior at about $90-million, or C$117-million. Northern Empire’s principal asset is the fully... 

Tando to accelerate exploration at South African vanadium project

By: Nadine James     2nd August 2018 ASX-listed junior exploration company Tando Resources on Thursday announced that it heliborne magnetic survey has delineated targets that demonstrate the potential for a low-cost direct shipping ore (DSO) operation at its SPD vanadium project, in South Africa. As a result, Tando has decided to... 

Resources Watch  

2nd August 2018 Kumba ‘very bullish’ on exploration prospects; Premium prices being paid for Kumba’s quality iron-ore; And, Anglo Platinum taking steps to reverse unjustified investor bearishness 

Resources Watch
Resources Watch

Rio buys back more shares

By: Esmarie Swanepoel     2nd August 2018 Diversified major Rio Tinto has launched a $1-billion share buy-back programme, priced at 10 pence a share. The new share buy-back programme is in addition to the on-market buy-back programmes of $1.92-billion announced in September 2017, and of $1-billion announced in February this year, of... 

Vedanta postpones quarterly results amid going-private offer process

By: Reuters     2nd August 2018 Miner Vedanta Resources, which is set to be taken private by chairman Anil Agarwal, postponed its quarterly production results to next Monday. Agarwal's family trust offered about $1-billion in cash to take the London-listed company private earlier this week. 

Vedanta postpones quarterly results amid going-private offer process
Anil Agarwal

Energy access solution lies in adopting VRFB technology in renewable energy – Nikomarov  

By: Simone Liedtke     1st August 2018 With about 650-million people in Africa currently without access to electricity, Bushveld Minerals subsidiary Bushveld Energy CEO Mikhail Nikomarov believes the solution lies in area-specific solutions. He explained in an interview with Mining Weekly Online that a solution needs to be an... 

Energy access solution lies in adopting VRFB technology in renewable energy – Nikomarov
Bushveld Energy CEO Mikhail Nikomarov speaks to Mining Weekly Online about the company's mission to address Africa's electricity shortage through cost effective storage and vanadium applications for Africa-specific solutions. Video and Editing: Nicholas Boyd

Higher volumes and prices drive Rio earnings

By: Esmarie Swanepoel     1st August 2018 Diversified miner Rio Tinto has reported a 12% increase in underlying earnings for the six months to June, as sales revenues increased on the back of higher iron-ore, bauxite and copper volumes, and higher aluminium and copper prices. “We have reported another strong set of results with... 

Higher volumes and prices drive Rio earnings
Rio Tinto CEO Jean-Sebastian Jacques

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