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Europe News

Botswana’s Mowana copper mine applies for provisional liquidation

By: Mariaan Webb     Updated 1 minute ago Base and precious metals company Cradle Arc has applied for the provisional liquidation of its 60%-owned Leboam Holding subsidiary, which owns the now suspended Mowana copper mine, in Botswana, while talks on alternative funding arrangements continue. The mine is facing significant working... 

This odd couple plots to save $100bn gold mining business

By: Bloomberg     Updated 7 hours ago John Thornton is a Goldman Sachs alumnus educated at Yale, Harvard and Oxford. Mark Bristow is a South African geologist and big-game hunter. Together, this corporate odd couple has a plan to turn around the lagging fortunes of the world’s largest gold-mining company, whose shares are down 67%... 

Portugal sees first lithium licensing tender in 2019, wants refinery

By: Reuters     18th December 2018 Portugal expects to launch a tender for lithium exploration licences next year, the new secretary of state for energy said on Tuesday, confirming the general outlines of a plan devised under his predecessor, although with a slight delay. In September, Joao Galamba's predecessor Jorge Seguro... 

Glencore billionaire among directors banned, fined by Canada

By: Bloomberg     18th December 2018 Glencore’s billionaire head of copper trading, Aristotelis Mistakidis, was among executives fined and banned from being a director by Canada after admitting that its Congolese copper and cobalt unit misstated how much metal it mined. Mistakidis, who is retiring from Glencore at the end of this... 

Glencore billionaire among directors banned, fined by Canada

De Beers’ final sales cycle for 2018 ends on a high

By: Mariaan Webb     18th December 2018 Diamond miner De Beers sold $540-million worth of diamonds in the tenth sales cycle of this year, bringing its total sales for the year to about $5.39-billion. The most recent sight yielded the strongest results for a final sales event in at least three years and compares with $455-million worth... 

Rio Tinto wraps up $500m sale of French smelter

By: Creamer Media Reporter      18th December 2018 Diversified major Rio Tinto has completed the sale of its aluminium smelter at Dunkerque, France, to Liberty House for $500-million. Liberty House, which is part of the GFG Alliance (Gupta Family Group), has committed to continuing operations at the smelter and has announced plans for the... 

Polymetal sells another small asset

By: Creamer Media Reporter      18th December 2018 Precious metals miner Polymetal has sold the Khakanja assets to a group of Russian buyers for $30-million in cash and assumed debt, advancing its strategy of selling smaller, short-lived assets. The assets comprise the 600 000 t/y processing plant, other related infrastructure at Khakanja, and... 

Jubilee commissions 'industry-first' DCM fine chrome plant

By: Mariaan Webb     18th December 2018 Jubilee Metals has completed the fine chrome recovery plant at the Dilokong Chrome Mine (DCM) and has started commissioning the plant, which the dual-listed company believes will open up many opportunities in the chrome industry. CEO Leon Coetzer said on Tuesday that the DCM fine chrome plant... 

Canadian regulator to consider Katanga settlement proposal Tuesday

By: Reuters     18th December 2018 A Canadian regulator will consider on Tuesday whether to accept a proposal from Katanga Mining to settle allegations related to the Glencore-controlled company's activities in Democratic Republic of Congo. Katanga said in a statement on Monday it could not give details of the proposal until... 

Barrick makes good on promise of larger dividend as Randgold merger passes final milestone 

By: Mariaan Webb     18th December 2018 Canadian gold major Barrick Gold is rewarding its shareholders with a larger full-year dividend, in line with a previous commitment to boost its payouts as a sweetener for its $6.1-billion merger with Africa-focused Randgold Resources. The company has declared a fourth quarter dividend of $0.07... 

Barrick makes good on promise of larger dividend as Randgold merger passes final milestone
Randgold CEO Mark Bristow is the designate president and CEO of Barrick Gold.

Newcrest raises stake in Ecuador copper/gold developer SolGold

By: Reuters     18th December 2018 Australian gold miner Newcrest Mining Ltd has raised its holdings in Ecuador gold and copper developer SolGold, nudging further ahead of the company's second biggest investor BHP Group . Newcrest International paid 11.148-million pounds for 27.87-million shares of SolGold at 0.40 pound a share,... 

Newcrest raises stake in Ecuador copper/gold developer SolGold
SolGold's CEO Nick Mather

Metal bulls cheer end to 'horrid' year; Goldman touts copper

By: Bloomberg     18th December 2018 As China goes, so goes industrial metals. That’s the message from anxious investors rolling out of a rough 2018, when Trump trade tensions, Federal Reserve rate hikes, a strong dollar and an economic slowdown in China all combined to push the London Metal Exchange Index to its first annual loss... 

Canadian regulator to fine Glencore-controlled miner over Congo - WSJ

By: Reuters     17th December 2018 A Glencore-controlled mining company and some of its current and former executives have agreed to pay more than $22-million to settle Canadian allegations they hid the risks of doing business with an Israeli close to Congolese President Joseph Kabila, the Wall Street Journal reported. The... 

Canadian regulator to fine Glencore-controlled miner over Congo - WSJ
Katanga Mining's operations in the Democratic Republic of Congo.

Guinea-focused Bellzone Mining goes bust

By: Mariaan Webb     14th December 2018 Guinea-focused iron-ore company Bellzone Mining has called in the liquidators after its largest shareholder and main backer Hudson Capital prevented it from raising any further equity and debt. The company previously warned that it would go bust if it could not secure a fresh injection of cash... 

Chaarat returns to Aim

By: Mariaan Webb     14th December 2018 Chaarat Gold’s share price fell sharply following its readmission to London’s Aim market on Friday, after an eight-month suspension under the exchange’s reverse takeover rules. The company’s ordinary shares resumed trading at 11:30 London time, and fell 16% to 20.25p a share just before midday. 

Climate ideals clash with coal realities at Polish-led UN talks

By: Reuters     14th December 2018 Delegates at UN climate talks in the Polish city of Katowice point to the mining museum next to the conference venue as the proper place for coal, which provides 80% of the country's electricity. Poland's decision to host the negotiations to revive the 2015 Paris agreement on phasing out fossil... 

Chinese battery firm halts purchases of cobalt from Glencore – sources

By: Reuters     14th December 2018 Chinese battery firm GEM has stopped buying cobalt from Glencore as the price of the battery material crashed below that agreed in a three-year deal between the two companies, sources close to the matter said. GEM said in a March 14 regulatory filing that it would buy 52 800 tonnes of cobalt from... 

Strongbow to complete London listing in H1 2019

By: Mariaan Webb     14th December 2018 Strongbow Exploration, the company that is seeking to revive the South Crofty tin mine, in Cornwall, south-west England, has confirmed that it will plans to complete its listing on London’s Aim exchange in the first half of 2019. The company, which already has a listing on the TSX-V, previously... 

Commissioning activities ramping up at Spain tungsten project

By: Creamer Media Reporter      14th December 2018 Construction activities at the Barruecopardo tungsten project, in Spain, have begun to wind down and mine commissioning activities are ramping up significantly, in line with a previously guided timeline of starting production in early February. London-listed Ormonde Mining reported on Friday... 

Commissioning activities ramping up at Spain tungsten project

Kodal Minerals confident of making Bougouni mine decision in 2019

By: Marleny Arnoldi     14th December 2018 Aim-listed Kodal Minerals’ Bougouni project, in Mali, is progressing to its feasibility, planning and construction stages. CEO Bernard Aylward on Friday commented that 2018 had been a year of intense activity, with the company having declared a maiden resource of 17.3-million tonnes at 1.2%... 

Global uranium supply sufficient to meet future demand – NEA 

By: Marleny Arnoldi     14th December 2018 Intergovernmental agency, the Nuclear Energy Association (NEA), says the world’s supply of uranium is more than adequate to meet projected requirements for the foreseeable future, regardless of the role that nuclear energy will play in meeting future electricity demand and global climate... 

Global uranium supply sufficient to meet future demand – NEA
Cameco's Inkai mine in Kazakhstan

Synthetic diamonds hogged media attention in 2018

By: Nadine James     14th December 2018 Media coverage of the diamond industry in 2018 has been dominated by the progression of laboratory-created diamond production, distribution and pricing dynamics, according to independent diamond expert Paul Zimnisky. He commented that several new players have entered the synthetic diamond space,... 

Synthetic diamonds hogged media attention in 2018
Photo by Bloomberg
TALK OF THE TOWN Laboratory-grown diamonds have held media and industry attention throughout 2018

Westwater seeks arbitration over Turkey licences

By: Mariaan Webb     13th December 2018 Nasdaq-listed Westwater Resources said on Thursday that it would seek international arbitration over what it alleged was the illegal taking of its Temrezle and Sefaalti uranium projects by the Turkish government in June this year. Westwater has sought to open a dialogue with the government, but... 

Gold supply to increase 2.2% for 2018 – Refinitiv

By: Marleny Arnoldi     13th December 2018 Total gold supply is set to increase by 2.2% year-on-year this year, led by mine production, says the GFMS team at Refinitiv. Refinitiv predicts this year will finish as another year of net de-hedging, albeit at a forecast 29 t, which will be 29% lower than in 2017.  

Testing confirms coproduct potential at Mina do Barroso

By: Tasneem Bulbulia     13th December 2018 Savannah Resources, which is focused on becoming Europe’s most significant producer of lithium spodumene concentrates from its Portuguese Mina do Barroso project, has successfully produced saleable quartz and feldspar coproducts from its ongoing metallurgical test work at the project. Coproducts... 

Bacanora plans to list German subsidiary in 2019

By: Mariaan Webb     13th December 2018 Project developer Bacanora Lithium is planning a 2019 stock exchange listing for the subsidiary that holds its Zinnwald lithium deposit, in Germany. Bacanora, which is also advancing the Sonora lithium project in Mexico, said on Thursday that it had held discussions with its financial advisers... 

Bacanora plans to list German subsidiary in 2019

Zimbabwe mining minister invites De Beers, Vast Resources to return

By: Reuters     13th December 2018 De Beers and Vast Resources will be allowed to explore for diamonds in Zimbabwe, which would make them the first listed companies to mine there in that sector for two years, Mining Minister Winston Chitando said. A spokesman for De Beers, an Anglo American unit, said in an email it was not mining... 

Zimbabwe mining minister invites De Beers, Vast Resources to return
Photo by Reuters
Zimbabwe Mining Minister Winston Chitando

Hummingbird anticipates up to 16 g/t gold grade potential at Mali project

By: Marleny Arnoldi     13th December 2018 Aim-listed Hummingbird Resources has announced the second set of drill results from the 2018 exploration campaign at its Yanfolila gold mine, in Mali, which further confirms high-grade gold mineralisation potential. The focus of the drill programme is to convert resources to reserves and extend... 

Euro Manganese updates Chvaletice resource estimate

By: Mariaan Webb     13th December 2018 Following the completion of the 2018 drilling programme, TSX-V- and ASX-listed Euro Manganese has updated the resource estimate of its Chvaletice manganese project, in the Czech Republic, confirming 98.3% as measured resources. The project's total measured and indicated resources now amount to... 

Thor adds to Pilot Mountain mineral resources

By: Marleny Arnoldi     13th December 2018 ASX- and Aim-listed Thor Mining’s Desert Scheelite deposit at Pilot Mountain, in Nevada, has a mineral resource estimate of 10.7-million tonnes at 0.26% tungsten trioxide, 19.38 g/t silver, 0.15% copper and 0.38% zinc. The updated mineral resource estimate represents a 6.5% increase in the... 

Japanese trading giant Mitsubishi throws weight behind platinum 

By: Martin Creamer     13th December 2018 The Japanese trading giant Mitsubishi has thrown its weight behind technologies that harness the high-performance characteristics of platinum group metals (PGMs) by joining Anglo American Platinum (Amplats) and South Africa’s Public Investment Corporation (PIC) as an investor in AP Ventures,... 

Japanese trading giant Mitsubishi throws weight behind platinum
Photo by Creamer Media
AP Ventures managing partner Andrew Hinkly

TNG mandates German bank for Mt Peake funding

By: Esmarie Iannucci     13th December 2018 ASX-listed TNG has mandated Germany’s KfW IPEX Bank to arrange a $600-million finance package for the Mt Peake vanadium/titanium/iron project, in the Northern Territory. Under the mandate, KfW IPEX-Bank will structure, coordinate, lead, arrange and manage a syndicate to raise the targeted amount... 

Barrick Gold is said to move closer to resolving Acacia dispute

By: Bloomberg     13th December 2018 Barrick Gold Corp has reached an agreement with the Tanzanian government on a $300-million payment, a milestone toward resolving a dispute that has crippled the miner’s subsidiary in the African country, according to people familiar with the situation. Executives from the Toronto-based producer... 

Barrick Gold is said to move closer to resolving Acacia dispute

Germany secures access to vast lithium deposit in Bolivia

By: Reuters     12th December 2018 Germany and Bolivia on Wednesday sealed a partnership for the industrial use of lithium, a key raw material for battery cell production, in an important step to become less dependent on Asian market leaders in the dawning age of electric cars. Interest in battery metals such as cobalt, nickel... 

Greece seeks to avert nickel producer Larco shutdown

By: Reuters     12th December 2018 Greece is trying to avert the possible closure of Europe's biggest nickel producer Larco and is looking at ways to ensure there are no interruptions to its electricity supply, the country's energy ministry said on Wednesday. Larco, which is 55%-owned by the Greek state, owes about €280-million... 

Ariana to start drilling Kizilcukur

By: Creamer Media Reporter      12th December 2018 Turkey-focused Ariana Resources will start a 1 000 m diamond drilling programme at its Kizilcukur gold project, which is being developed with a view to truck and process its ore at the nearby Kiziltepe mine. The objective of the diamond drilling is to define a high-grade zone amenable to openpit... 

Enable meaningful participation, pleads Women in Mining chair  

By: Martin Creamer     12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... 

Enable meaningful participation, pleads Women in Mining chair
Women in Mining chairperson and Gubhani Exploration MD Lindiwe Nakedi talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Creamer Media Chief Photographer Dylan Slater.

Horizonte details economics of Araguaia expansion

By: Mariaan Webb     12th December 2018 An assessment of a second stage expansion of the planned Araguaia nickel project, in Brazil, has delivered compelling economic results, with a base case net present value (NPV) of $741-million and an internal rate of return (IRR) of 31.8%, Aim- and TSX-listed Horizonte Minerals reported on... 

Horizonte details economics of Araguaia expansion
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