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Miners Teck, Antofagasta deny they are in merger talks

By: Reuters     Updated 3 hours ago Teck Resources and Antofagasta denied on Monday that they were in talks about a merger after Bloomberg news reported that the two mining companies were in early stage talks. Teck said in statement it was not in discussions with Antofagasta "in relation to any form of transaction." 

Goldplat reports weighty losses for 2014

By: Megan van Wyngaardt Aim-listed gold producer Goldplat has suffered a £377 000 pre-tax loss and an £827 000 operating loss for the six months ended December 31, 2014, owing to the impact of refinery problems at its operations and increased exposure to gold price fluctuations. The Africa-focused miner said that, while... 

Minerals Minister to announce mining charter audit outcomes

By: Martin Creamer South Africa’s Mineral Resources Minister Ngoako Ramatlhodi will on Tuesday brief the media on the outcomes of the audit to assess the extent to which mining companies have complied with the Mining Charter in the ten years to 2014. This follows the Minister making in clear last month that the... 

Minerals Minister to announce mining charter audit outcomes
Photo by Duane Daws
Ngoako Ramatlhodi

Mgojo transitioning to Exxaro CEO post as Nkosi begins exit process

By: Martin Creamer Mxolisi Mgojo, the executive responsible for carbon operations at the JSE-listed diversified mining company Exxaro Resources, has been appointed to serve as CEO-designate of the black-controlled company as part of a year-long exit process by incumbent CEO Sipho Nkosi, who will retire in March... 

Mgojo transitioning to Exxaro CEO post as Nkosi begins exit process
Photo by Duane Daws
Mxolisi Mgojo

Ferrex progresses DFS for Togo manganese project

By: Megan van Wyngaardt Aim-listed manganese development and iron-ore exploration company Ferrex on Monday reported that the definitive feasibility study (DFS) on its Nayega project, in northern Togo, was nearing completion. The company was now focused on accelerating the start-up model to export 250 000 t/y of... 

Highfield DFS delivers ‘low capex, high margin’ result for Muga mine

By: Esmarie Swanepoel A definitive feasibility study (DFS) has confirmed that the Muga potash project, in Spain, was economically feasible, owner Highfield Resources reported on Monday. Based on an ore reserve of 146-million tonnes, at an average grade of 12.73% potassium oxide, the DFS estimated that the project... 

Miners' gold forward sales surged 103t last year, most since 1999 – report

By: Reuters The volume of gold sold forward by mining companies rose by 103 t last year, the biggest annual increase since 1999, an industry report showed on Friday. That far outstrips an estimate given late last year of 42 t to 52 t, after Mexican gold and silver miner Fresnillo said it was hedging 47... 

Bauba makes first chrome shipment in platinum exploration funding move

By: Martin Creamer The JSE-listed Bauba Platinum, which is mining and selling chrome ore to fund its platinum exploration, this week shipped the first run-of-mine output from its maiden chrome horizon blast at the Moeijelik operation. Bauba last year entered into a two-year chrome-ore supply agreement with ASA... 

Bauba makes first chrome shipment in platinum exploration funding move
Photo by Duane Daws
Syd Caddy

Hannans signs up JV partner in Sweden

By: Esmarie Swanepoel ASX-listed Hannans Reward has welcomed a joint venture partner to its Pahtohavare copper/gold project, in Sweden. Swedish mining company Lovisagruvan AB could now earn a 35% interest in the Pahtohavare project by making a A$150 000 payment to Hannans, and by completing additional metallurgical... 

LME looking to restore bullion forward curve, eyes broad market restructuring

By: Reuters The London Metal Exchange (LME) has started talking to the main bullion trading banks about reinstating end-of-day gold and silver forward curves, which could be part of a bigger structural change in the precious metals market. A forward curve, which consists of a series of prices reflecting... 

Electricity-slashing platinum game changer expected by December

By: Martin Creamer The target date is the end of this year for the decision to go ahead with the commercial implementation of a paradigm shift technology that will mine and refine platinum in an integrated on-site process and use only a tenth of the electricity normally consumed. Major detail design work has... 

Electricity-slashing platinum game changer expected by December
Photo by Duane Daws
Arne Frandsen

Steadfast Wescoal reacts firmly to stave off negative reports

By: Martin Creamer A steadfast Wescoal on Wednesday reacted firmly to stave off negative news reports by restating that an offer made for the company had been taken off the table after conditions could not be met and simultaneously reconfirmed its oft-stated position of wanting to increase its black shareholding to... 

Steadfast Wescoal reacts firmly to stave off negative reports
Photo by Duane Daws
Wescoal chairperson Robinson Ramaite

Engineering firm completes umbilical winches for Nautilus Minerals' deep-sea fleet

By: Henry Lazenby Canadian marine mining project developer Nautilus Minerals on Tuesday said a British engineering firm had successfully completed factory acceptance testing of the umbilical winches for three seafloor production tools (SPTs). UK-based Soil Machine Dynamics designed and built the umbilical winches,... 

Seize opportunity to improve mining tax, pleads KPMG’s Saloojee

By: Martin Creamer South Africa should seize the current timely opportunity to amend its mining taxation in a manner that encourages foreign investment, stimulates prospecting, gets mining companies to start dealing with marginal mines and gives enough back to the fiscus for the benefit of this country's people,... 

Seize opportunity to improve mining tax, pleads KPMG’s Saloojee
Muhammad Saloojee

Pallinghurst shares rise on triple performance in troubled times 

By: Martin Creamer The shares of diversified mining company Pallinghurst rose by more than 4% in Johannesburg on Monday after the company reported a rise on the performance of its platinum, manganese and coloured gemstones business units during troubled times. In the 12 months to December 31, the JSE-listed... 

Pallinghurst shares rise on triple performance in troubled times
Photo by Duane Daws
Arne Frandsen

Balamara announces maiden resource in Poland

By: Esmarie Swanepoel Coal developer Balamara Resources has announced a maiden 1.2-billion-tonne Joint Ore Reserves Committee-compliant resource for its Sawin thermal coal project, in Poland. The resource was compiled from 52 historical drill holes. 

Early signs of another good year for diamond jewellery – De Beers

By: Martin Creamer Early signs that 2015 will be another positive year for the diamond industry are being given by Valentine’s Day demand in the US and Chinese New Year sales in China. De Beers strategy director Bruce Cleaver, who spoke to Creamer Media’s Mining Weekly Online in a video interview following 2014's... 

Early signs of another good year for diamond jewellery – De Beers
Photo by Darlene Creamer
Bruce Cleaver

China slowdown pushes coal, iron-ore to fresh lows

By: Reuters Key Asian mining markets are being thrown into crisis by China's slowdown and industrial reforms, with coal and iron-ore prices falling this week to levels last seen before the global financial crisis. Benchmark Australian coal settled below $60/t on Thursday, the lowest price since before... 

Global diamond jewellery demand hits record $81bn

By: Martin Creamer Global demand for diamond jewellery grew 3% to a record $81-billion in 2014, De Beers said on Friday, while pointing out a slower last-quarter pace of growth across the luxury goods category in both the US and China, the biggest and second–biggest diamond-jewellery markets. De Beers diamond... 

Global diamond jewellery demand hits record $81bn
Photo by Duane Daws
Philippe Mellier

Effective CSR strategies becoming increasingly critical to project success

By: Henry Lazenby With the extractive industry these days being forced to look for viable projects in more far-flung regions, it often entails coming into contact with communities that have, in a sense, been forgotten or neglected by their own governments, potentially adding to project risk. But socioeconomic... 

Effective CSR strategies becoming increasingly critical to project success

Glencore opts for squeaky clean

By: Martin Creamer Mining and marketing giant Glencore on Thursday took the unprecedented step of signing a major human rights commitment with a top human rights body, in a bid to keep its activities beyond reproach and squeaky clean. In its latest step of many recent steps to keep the company firmly on mining's... 

Glencore opts for squeaky clean
Photo by Duane Daws
Ivan Glasenberg

Zinc metal deficit expected to intensify – Glencore

By: Martin Creamer The zinc metal market’s 2014 deficit is expected to intensify this year, Glencore says in its latest annual report. The 200-page document, in which CEO Ivan Glasenberg notes slower than expected post-financial-crisis normalisation, positions the company as one able to react quickly and benefit... 

Zinc metal deficit expected to intensify – Glencore
Photo by Duane Daws
Ivan Glasenberg

Coal-rich South32 keen to help Eskom solve power issues – Kerr

By: Martin Creamer The BHP Billiton spin-off company South32, with large South African energy coal resources, would be keen to help State power utility Eskom solve some of its primary energy issues, South32 CEO-elect Graham Kerr said on Tuesday. Kerr was speaking to the media in a London teleconference call in... 

Coal-rich South32 keen to help Eskom solve power issues – Kerr
Photo by Bloomberg
Graham Kerr

DiamondCorp subsidiary secures $7m in royalty financing

By: Creamer Media Reporter Lace Diamond Mines (LDM) has signed a term sheet with resource-focused investment management company Acrux Resources for $7-million in financing in exchange for a 3% net revenue royalty on the first 12-million carats to be recovered at the Lace underground mine, in the Free State. LDM, in which... 

Rio Tinto discloses tax payments to governments

By: Esmarie Swanepoel Mining major Rio Tinto this week revealed that it had paid some $7.1-billion in global taxes during 2014, with the majority of royalties paid in Australia. Some $5.6-billion in taxes were paid to the Australian government, with a further $432-million paid in Canada, $262-million in Chile,... 

Future lies in governments creating exciting legislative empowerment – Motsepe 

By: Martin Creamer Southern Africa’s economic future lies in the creation by governments of exciting legislative, regulatory and fiscal empowerment that stimulates private sector investment. That is the view of Patrice Motsepe, executive chairperson of South Africa’s black-controlled African Rainbow Minerals (ARM)... 

Future lies in governments creating exciting legislative empowerment – Motsepe
Photo by Duane Daws
Patrice Motsepe

Poland's KGHM fourth-quarter net profit down 18%

By: Reuters Europe's second-largest copper producer KGHM on Monday reported an 18% drop in fourth-quarter net profit to 666-million zlotys ($171-million) due to lower metal prices. Analysts polled by Reuters had expected fourth-quarter net of 667-million zlotys. 

ARM’s Motsepe urges serious govt intervention on Eskom let down

By: Martin Creamer Patrice Motsepe, chairperson of the black-controlled diversified mining company African Rainbow Minerals, on Monday urged the government to intervene seriously to establish Eskom as a competitive, cost-effective, reliable provider of electricity. Speaking at ARM’s presentation of interim results,... 

ARM’s Motsepe urges serious govt intervention on Eskom let down
Photo by Duane Daws
Patrice Motsepe

Goldman names Qin new Asia commodities chief, Glencore hires Thean

By: Reuters Goldman Sachs has appointed Xiao Qin as head of its Asia Pacific commodities business, according to an internal memo, with the bank's former oil and metals trading chief in Singapore, Quek Chin Thean, joining Glencore. Qin, an oil options trader, first joined the bank 15 years ago. He left the... 

Ethiopia Mines Ministry gives go ahead for Tulu Kapi development

Aim-listed gold explorer and developer Kefi Minerals has received approval from Ethiopia’s Ministry of Mines to develop its Tulu Kapi project. The company's application for the 86 000-oz/y mine was now before the Council of Ministers for approval to execute a mining agreement and to issue the... 

Across-board ARM review as earnings plunge 56%

By: Martin Creamer Black-controlled diversified mining company African Rainbow Minerals (ARM), which saw its half-year headline earnings plummet by 56%, is responding with an across-the-board review of its performance and expenditure. The JSE-listed company, headed by executive chairperson Patrice Motsepe, on... 

Across-board ARM review as earnings plunge 56%
Photo by Duane Daws
Patrice Motsepe
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