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Caledonia progresses revised investment plan at Blanket mine

     Updated 6 hours ago Work that formed part of Aim-listed Caledonia Mining Corporation’s revised investment plan for its Blanket gold mine, in Zimbabwe, would be completed by July. As part of its plan the company planned to develop a tramming loop 750 m below surface, which was now at 384 m. 

First tungsten from new Zimbabwe mine June – Premier

By: Martin Creamer     Updated 6 hours ago he first major commercial production of tungsten from a new mine under construction in Zimbabwe is expected in June. The plant for the mine, which is being built in Johannesburg by Appropriate Process Technology, is due for shipment to Zimbabwe on May 11. The RHA project has so far absorbed an... 

First tungsten from new Zimbabwe mine June – Premier
Photo by Duane Daws
George Roach and Martin Creamer

Australian iron-ore juniors hurting, some majors reviewing expenditure plans as prices slump

By: Esmarie Swanepoel The recent free fall in the iron-ore price to its lowest level in six years has struck a deathblow to a number of Australian juniors operating in the sector, while the majors have been forced to cut back costs. Commodity analyst Wood Mackenzie (WoodMac) blamed the lagging commodity price on a... 

Australian iron-ore juniors hurting, some majors reviewing expenditure plans as prices slump

True North Gems updates Greenland precious-gem project PFS

By: Henry Lazenby An updated prefeasibility study (PFS) on Canadian project developer True North Gems' Aappaluttoq ruby and pink sapphire project, in Southwest Greenland, has presented positive results, revealing that the project has an after-tax net present value at an 8% discount rate of $171-million. The mine,... 

Kibo enters two JVs with Metal Tiger for gold and uranium projects

By: Megan van Wyngaardt Tanzania focused exploration and development company Kibo Mining has completed due diligence on its Morogoro South gold-prospective exploration portfolio and has started its 50/50 joint venture (JV) activities with investing company Metal Tiger. The portfolio, which consists of 18 licences,... 

Kibo enters two JVs with Metal Tiger for gold and uranium projects

Implats moves to power platinum refinery with platinum fuel cells

By: Martin Creamer Platinum major Impala Platinum (Implats) is studying the feasibility of taking its entire platinum refinery off the national electricity grid and powering it with platinum fuel cells. The refinery already has a supply of available hydrogen to fuel the cells and would need some 20 MW of fuel-cell... 

Implats moves to power platinum refinery with platinum fuel cells
Photo by Creamer Media
Terence Goodlace and Martin Creamer

Anglo's zinc loss now Vedanta's sweet gain

By: Martin Creamer London-listed diversified mining company Vedanta Resources has found itself in a sweet spot as the owner of the zinc assets that Anglo American saw fit to sell off four years ago, when China seemed in perpetual over supply mode and small operations abounded. But China is no longer supplying as it... 

Anglo's zinc loss now Vedanta's sweet gain
Photo by Duane Daws
Deshnee Naidoo

Ferrex raises funds for Togo manganese project

Aim-listed manganese development and iron-ore exploration company Ferrex has raised £835 000, before expenses, through the placing of 127-million new ordinary shares to provide working capital to finalise the construction of its flagship Nayega manganese project in Togo, West Africa. Ferrex had... 

Manas reviews Shambesai economics

By: Esmarie Swanepoel Gold developer Manas Resources was expecting a greater output at its Shambesai gold project, in the Kyrgyz Republic. The ASX-listed junior on Wednesday updated the economic parameters of the proposed project, to include work carried out at the project area since the 2013 bankable feasibility... 

Merger to create new $3.1bn global silicon and specialty metals player

By: Henry Lazenby Spain-based silicon metal, silicon alloys and ferroalloys producer Grupo FerroAtlántica and Miami, Florida-based Globe Specialty Metals will combine in an all-stock transaction to create an international silicon and specialty metals producer with a combined enterprise value of about $3.1-billion.... 

Merger to create new $3.1bn global silicon and specialty metals player

South32 catalyst for next wave of productivity gains – BHP Billiton

By: Martin Creamer Mining giant BHP Billiton, which pulled a free cash flow rabbit out of the thrashed commodity price hat in the six months to December 31, intends the spinoff of South32 to be the catalyst for the new wave of productivity gains in the period ahead “because if you keep doing the same thing, you... 

South32 catalyst for next wave of productivity gains – BHP Billiton
Photo by Duane Daws
Peter Beaven

Lonmin COO resigns

Johan Viljoen has resigned as COO of dual-listed platinum miner Lonmin, citing personal reasons for his departure. Lonmin’s business support office head Ben Moolman would, with immediate effect, become acting COO for the time being, alongside his current role. 

BHP posts big drop in half-year profit, cuts back on spending

By: Esmarie Swanepoel Mining giant BHP Billiton on Tuesday said that its interim profit had nearly halved, as the prices of the group’s main commodities slumped in the past six months. BHP posted a 47.4% year-on-year decline in group profit for the half-year ended December 31, to $4.27-billion, from $8.12-billion a... 

BHP posts big drop in half-year profit, cuts back on spending

Self-generation does not pass economic muster – AngloGold

By: Martin Creamer Gold major AngloGold Ashanti said on Monday that the idea of the company building its own power stations to provide electricity to its South African gold mines did not pass economic muster and was thus not at the top of its current priority list. At a media roundtable ahead of the presentation of... 

Self-generation does not pass economic muster – AngloGold
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Venkat (right) and Martin Creamer

Richland Resources extends longstop date for sale to Sky Associates

Aim-listed gemstone developer and producer Richland Resources has agreed with Tanzanian company Sky Associates to extend the longstop date for the sale of Richland’s tanzanite mining and beneficiaiton business, as well as its tsavorite licence interest in Tanzania, from February 23 to March 16.... 

AngloGold in mass meetings with workers ahead of wage talks

By: Martin Creamer Gold major AngloGold Ashanti on Monday outlined how it had conducted eight days of mass meetings with unlimited question-and-answer sessions with all of its mineworkers, ahead of the crucial gold industry wage talks. With support of organised labour, the company had conducted the mass meetings... 

AngloGold in mass meetings with workers ahead of wage talks
Photo by Creamer Media
Venkat (right) with Martin Creamer

AngloGold production up 8%, all-in costs down 13%

By: Martin Creamer Two consecutive years of production growth plus a 13% improvement in all-in sustaining costs (AISC) have been posted by gold major AngloGold Ashanti. “A very good production performance,” AngloGold Ashanti CEO Srinivasan (Venkat) Venkatakrishnan told Creamer Media’s Mining Weekly Online in a... 

AngloGold production up 8%, all-in costs down 13%
Photo by Duane Daws
AngloGold Ashanti CEO Srinivasan Venkatakrishnan

Recycling, war on diesel threaten platinum producers' price hopes

By: Reuters Platinum producers struggling back from South Africa's longest-ever mining strike are now contending with threats to a long-awaited price recovery, notably Europe's emerging dislike of diesel engines. The world's largest platinum miners, crippled by a five-month stoppage in 2014, have said their... 

Growing demand for cheap minerals, energy opening up high-yielding investment opportunities 

By: Henry Lazenby In a world where the economic outlook is uncertain and opinions diverge at best, the overarching trend of divergent lifestyles around the world is providing fuel for a new generation of critical-thinking miners who have undergone a paradigm shift in approaching the business in a much cleverer,... 

Growing demand for cheap minerals, energy opening up high-yielding investment opportunities

Alamos Gold narrows Q4 net loss compared with 2013 period

By: Henry Lazenby Gold miner Alamos Gold has narrowed its net loss for the fourth quarter, reporting $3.37-million, or $0.03 a share, compared with the net loss of $5.3-million, or $0.04 a share, for the comparable 2013 period. The company said on Thursday that the loss was mainly owing to a $2.7-million noncash... 

Improve mining through the exploitation of better data

By: Anine Vermeulen In a data-dominated world, the mining industry remained a labour-intensive enterprise that relied on long-term planning which, when inaccurate, could massively impact bottom lines, consulting company IBM mining executive Magda Honey said on Thursday. Better insight into data technology resulted... 

Petra reports rise in H1 revenue, profit

By: Megan van Wyngaardt Southern Africa-focused diamond miner Petra Diamonds on Thursday reported a 16% increase in revenue to $214.8-million for the six months ended December 31, while its profit rose 21% to $92.9-million, owing to higher run-of-mine (RoM) output at its Finsch, Koffiefontein, Kimberley Underground and... 

Barrick Gold to sell two mines, reduce debt by $3bn

By: Reuters Barrick Gold said on Wednesday it will sell its Porgera mine, in Papua New Guinea, and its Cowal mine, in Australia, to help reduce net debt by at least $3-billion by year-end, giving investors a long-awaited glimpse into its strategy. Barrick, the world's biggest gold producer, also said it was... 

Barrick Gold to sell two mines, reduce debt by $3bn

Parliamentary minerals law review limited to four points

By: Martin Creamer The review of the Minerals and Petroleum Resources Development Act (MPRDA) Amendment Bill would be restricted to four recommendations and the focus would be on whether or not these passed constitutional and procedural muster, Mineral Resources Parliamentary Portfolio Committee chairperson... 

Parliamentary minerals law review limited to four points
Photo by Duane Daws
Ngoako Ramatlhodi

DiamondCorp, AMCU sign four-year wage deal

Dual-listed DiamondCorp’s 74%-owned subsidiary Lace Diamond Mines, in the Free State, has signed a four-year wage agreement with the Association of Mineworkers and Construction Union (AMCU). The agreement set out yearly increases of 8% in employees’ basic salary for most categories, along with a... 

Weatherly reports technical issues at Tschudi, shares suspended

Aim-listed miner Weatherly International has produced the first copper cathode at its Namibia-based Tschudi project's electrowinning circuit. However, the company reported in a statement to shareholders on Tuesday that there were a number of operational and technical issues at the low-cost... 

Mines are development engines for host countries – ICMM

By: Martin Creamer Mines are proven engines of economic development for host countries, which benefit significantly from the foreign direct investment (FDI) that mines attract as well as the export earnings that they generate, the International Council for Mining & Metals (ICMM) has found in a unique 214-country... 

Mines are development engines for host countries – ICMM
Photo by Creamer Media
Martin Creamer and Tony Hodge

Kenmare to cut Moma staff

Mozambique-focused mineral sands miner Kenmare Resources plans to reduce the number of employees at its Moma mine by between 15% and 20% as part of its cost cutting programme. The company noted in a statement on Tuesday that, although it had worked to reduce unit costs and conserve cash, these... 

Orbite selected for $4.5m grant to advance waste monetisation initiative

By: Tracy Hancock TSX-listed Orbite Aluminae has been granted up to $4.5-million in nondilutive funding towards the development, demonstration and commercialisation of its technology for the processing of red mud. Orbite CEO Glenn Kelly said on Monday that the funding from Sustainable Development Technology Canada... 

Orbite selected for $4.5m grant to advance waste monetisation initiative
Alumina

Opposition calls on President to back Minister on developmental pricing issue

By: Martin Creamer Amidst apparent disagreement in his Cabinet about mining policy, President Jacob Zuma needed to step in and provide leadership so that potential mining investors had certainty about South Africa’s mining policy, Shadow Democratic Alliance (DA) Mineral Resources Minister James Lorimer has urged in... 

Opposition calls on President to back Minister on developmental pricing issue
Photo by DA.org.za
James Lorimer

Good governments assume lower commodity prices  

By: Martin Creamer The governments of resource-rich countries should base their financial planning on commodity prices that are lower than the year prior. Should actual commodity prices eventuate that are higher than those assumed, the additional revenue from the higher prices should be treated as a bonus and spent... 

Good governments assume lower commodity prices
Photo by Bloomberg
Jim O'Neill
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