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Europe News

Remove exploration red tape or mining will die, geologist warns 

By: Martin Creamer     19th October 2017 The excessive red tape around minerals exploration must be removed to prevent the demise of South Africa’s vital mining industry, consulting exploration geologist Allan Saad said on Thursday. Saad, who spent 18 years in geological roles with mining major Rio Tinto and who formerly represented the... 

BHP's chairperson holds first annual meeting, plans to review board

By: Bloomberg     19th October 2017 In  Ken MacKenzie’s first annual shareholder meeting at BHP Billiton, he emphasised that while the company will listen to investors, it is the board that makes decisions. For most companies, that’s a pretty unremarkable statement, but it carries extra weight at BHP, which is under pressure by... 

BHP's chairperson holds first annual meeting, plans to review board
BHP chairperson Ken Mackenzie

Polyus delivers record production in Q3

By: Natasha Odendaal     19th October 2017 Russia’s largest gold producer Polyus has achieved another record quarter, with production rising 16% year-on-year to 642 000 oz during the three months to September 30. “The third quarter of 2017 marked yet another quarter of operational improvements and a constant drive to discover the full... 

Polyus delivers record production in Q3
The Natalka gold mine

Tertiary has eye on ‘near-revenue generating’ fluorspar project

By: Mariaan Webb     19th October 2017 Aim-traded Tertiary is in “advanced discussions” to acquire a new fluorspar project, which will add to its existing fluorspar assets in Sweden, Norway and the US. The company did not disclose where the project is located, but said that a technical due diligence was under way and that further... 

Connemara boosts Wicklow gold project with acquisition of prospecting licences

By: Mariaan Webb     19th October 2017 Irish exploration company Connemara has acquired 17 existing prospecting licences in Ireland from a company that was formed by the late Dale Hendrick, who was renowned in gold exploration. The company acquired control of 12 existing HRI prospecting licences for a royalty agreement comprising a... 

Galantas acquiring new equipment for Omagh

By: Mariaan Webb     19th October 2017 Aim- and TSX-V-listed Galantas Gold has made good progress with the development of an underground mine at Omagh, in county Tyrone, Northern Ireland, and is now looking at acquiring new equipment to speed up its development rate. The company reported on Thursday that development had been advanced... 

South32 bolsters net cash to $1.7bn, reports solid Q1 results

By: Esmarie Swanepoel     19th October 2017 Diversified miner South32 on Thursday reported its financial and operational results for the first quarter of the 2018 financial year, telling shareholders that stronger commodity markets had delivered a $33-million increase in its net cash position. “Our key commodity markets continue to... 

South32 bolsters net cash to $1.7bn, reports solid Q1 results
Photo by Bloomberg
South32 CEO Graham Kerr

BHP told bending to activists poses risks for debt investors

By: Bloomberg     19th October 2017 BHP Billiton’s new chairman Ken MacKenzie is grappling with a simmering campaign by activist shareholders -- moving too far to appease them could risk unsettling debt investors who own the world’s biggest miner’s $24-billion of bonds. The campaign by funds including billionaire Paul Singer’s... 

BHP told bending to activists poses risks for debt investors
BHP new chairperson Ken Mackenzie

Glencore to swap Rusal stake for shares in Russia's En+

By: Reuters     19th October 2017 Glencore will swap its 8.75% stake in Russian aluminium giant Rusal for shares in En+ Group, an aluminium and hydropower group controlled by tycoon Oleg Deripaska, En+ said on Wednesday. En+ Group plans to raise $1.5-billion in an initial public share offering (IPO) in London and Moscow in... 

Diamond exploration intensifying close to mine that paid for itself in 3.5 days 

By: Martin Creamer     18th October 2017 London- and Botswana-listed Botswana Diamonds, which is funding diamond exploration on three sites in South Africa, expects to declare an inferred resource by year-end at its Thorny River project in Limpopo, which is located very close to the Marsfontein mine that had an astonishing... 

Diamond exploration intensifying close to mine that paid for itself in 3.5 days
Botswana Diamonds MD James Campbell talks to Mining Weekly Online's Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Lionel da Silva

Niger must halt job cuts at Areva's uranium mine, group says

By: Bloomberg     18th October 2017 Activists in Niger urged President Mahamadou Issoufou to negotiate with Areva SA after the French company said it will cut 200 jobs at one of its uranium mines in the West African nation to adjust to lower prices for the nuclear fuel. “It’s absolutely untrue that the only solution is to lay off... 

Vast making progress on Baita Plai licence

By: Mariaan Webb     18th October 2017 Aim-listed Vast Resources said on Wednesday that it had made “significant progress” with the finalisation of the Baita Plai association licence, which forms a key part of its expansion plans in Romania. Vast said that the Baita SA board had held a meeting this week, where it had requested its... 

San Jose study shows robust project at 'half current lithium price' – Plymouth

By: Esmarie Swanepoel     18th October 2017 A scoping study into the San Jose lithium-tin project, in Spain, has found that the project could deliver some 15 000 t/y of battery grade lithium carbonate over an initial mine life of 24 years. ASX-listed Plymouth Minerals on Wednesday reported that the project was expected to require a caital... 

Po Valley gets new production concession

By: Esmarie Swanepoel     18th October 2017 The Italian Ministry of Economic Development has granted ASX-listed PO Valley a production concession for a new onshore gas field close to existing producing infrastructure. Po Valley said on Wednesday that the Sant Alberto production concession, near Bologna, covers an area of 19.51 km2 and was... 

Moz coal assets come back to haunt former Rio Tinto CEO, CFO

By: Esmarie Swanepoel     18th October 2017 The US Securities and Exchange Commission (SEC) has laid charges of fraud against diversified miner Rio Tinto and its former CEO Tom Albanese and CFO Guy Elliott. The SEC in a statement this week said that the company and the former two executives had inflated the value of Mozambique coal... 

Moz coal assets come back to haunt former Rio Tinto CEO, CFO
Photo by Duane Daws
Tom Albanese

BHP on track for 7% volume growth in FY18; guidance intact

By: Henry Lazenby     18th October 2017 The world’s largest mining house BHP Billiton said on Wednesday it remained on track for a 7% volume growth in the 2018 financial year, leaving its full-year 2018 guidance unaltered. The Melbourne, Australia-based miner reported its operating results for the three months ended September 30,... 

BHP on track for 7% volume growth in FY18; guidance intact

‘Digital effectiveness’ tops EY’s 2017/18 risk radar

By: Henry Lazenby     18th October 2017 Professional services firm EY Global has revealed it annual ‘Top 10 business risks facing mining and metals’ report on Tuesday, with new entry ‘digital’ topping the list of most critical risks facing the mining industry in the coming year. This year’s report has seen a reshuffling with digital... 

‘Digital effectiveness’ tops EY’s 2017/18 risk radar

Miners beware growing cyber risk

By: Henry Lazenby     17th October 2017 Cyber risk has increased in prominence on professional services firm EY’s annual ‘Top 10 business risks facing mining and metals’ report, jumping to third position from ninth in 2016. According to EY's report, which was published on Tuesday, cyber risk is an ever-growing issue – an outcome of... 

Miners beware growing cyber risk

Young HDSA diamond beneficiators doing well – De Beers 

By: Martin Creamer     17th October 2017 The model launched last year by De Beers for the development of young historically disadvantaged South Africans (HDSAs) as diamond beneficiators is proving highly successful, De Beers Senior VP Sightholder Sales South Africa Mpumi Zikalala said on Tuesday. Speaking to Mining Weekly Online on the... 

Young HDSA diamond beneficiators doing well – De Beers
De Beers Senior VP Sightholder Sales South Africa Mpumi Zikalala talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd and Lionel de Silva.

Six miners killed, one wounded in coal mine collapse in Turkey - aid agency

By: Reuters     17th October 2017 Six miners were killed and another was wounded after part of a coal mine in Turkey's southeastern province of Sirnak collapsed on Tuesday, Turkey's AFAD aid agency said. AFAD said search and rescue teams were searching for another worker who was trapped at the site. 

KGHM plays down recent breakdown impact

By: Reuters     17th October 2017 Polish copper producer KGHM Polska Miedz said on Tuesday it expects no big negative impact on sales or core earnings from the recent breakdown of a smelter in the city of Glogow. "We hope that we will be able to recoup some losses," CEO Radoslaw Domagalski-Labedzki told reporters. 

Petropavlovsk Q3 output up 1.6%

By: Mariaan Webb     17th October 2017 LSE-listed miner Petropavlovsk has reported a marginal increase in its gold production in the September quarter. The company, which operates the Pioneer, Pokrovskiy, Malomir and Albyn mines in Russia, produced 104 000 oz of gold in dore, compared with 102 400 oz in the third quarter of 2016. 

De Beers’ eighth sales cycle nets $370m

By: Anine Kilian     17th October 2017 Diamond miner De Beers reported revenue of $370-million for its eighth rough diamond sales cycle of this year. This was lower than the $494-million in revenue earned in the eighth sales cycle of 2016. 

Rio Tinto produces more iron-ore and coal, but cuts copper guidance

By: Esmarie Swanepoel     17th October 2017 Diversified major Rio Tinto has reported increased production across its iron-ore and coal assets, but has adjusted its copper output expectations for the full year on the back of delays at the Escondida operation. “The business performed very well in the September quarter, with a strong... 

Rio Tinto produces more iron-ore and coal, but cuts copper guidance
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastian Jacques

Exploration, junior culture needed to save mining – Bristow 

By: Martin Creamer     16th October 2017 Unless South Africa starts exploring again and finds new ore deposits, the country will continue to turn out the lights of the mining sector. With poor policy added, disinvestment and lack of interest will ultimately stop South Africa’s mining industry in its tracks, which will deal a colossal... 

Exploration, junior culture needed to save mining – Bristow
Top resources consultant Dr John Bristow outlines the urgent need for exploration to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Vast Resources reports higher output

By: Creamer Media Reporter      16th October 2017 UK-headquartered Vast Resources on Monday reported stronger operational results from its mines in Romania and Zimbabwe, with third-quarter tonnes mined, milled and copper and gold production outperforming the previous quarter. The Manaila polymetallic mine, in Romania, delivered an “exceptional... 

Prairie Mining says near deal with Chinese banks to fund Polish mine

By: Reuters     16th October 2017 London-listed Prairie Mining is in advanced talks with Chinese lenders to finance its coking coal mine project in Poland, its CEO said. Prairie, which is also listed in Australia, is developing the Jan Karski mine in south eastern Poland and bought the Debiensko mine last year with a view to... 

Italy grants Energia exploration licence for historic Salafossa mine

By: Creamer Media Reporter      16th October 2017 ASX-listed Energia has been awarded an exploration licence covering the historic Salafossa mine area, in northern Italy near the border of Austria, the company reported on Monday. Salafossa, which was operational between 1964 and 1986, comprised a single sub-horizontal Mississippi Valley Style... 

Polymetal hikes Q3 output by 26%, confirms FY guidance

By: Mariaan Webb     16th October 2017 Russian gold and silver producer Polymetal on Monday reported a 26% increase in its third-quarter gold-equivalent production of 470 000 oz, which is in line with its production plan of 1.4-million ounces for 2017. The third-quarter output included of 370 000 oz of gold, a 38% year-on-year... 

Polymetal hikes Q3 output by 26%, confirms FY guidance
Stockpiles at the Varvara mine.

London's gold crown slips on MiFID with New York poised to catch

By: Bloomberg     16th October 2017 London is losing its Midas touch. New rules from regulators, on top of uncertainties over the UK’s future relationship with the European Union, are denting the city’s position as the biggest center for gold trading in the world. The changes threaten to push up costs, a key competitive advantage... 

Palladium tops $1 000 for first time since 2001 on auto catalysts

By: Bloomberg     16th October 2017 Palladium climbed above $1 000 an ounce for the first time since 2001 as demand grows for the metal in pollution-control devices for gasoline-powered vehicles. The metal rose as much as 1% to $1 000.84 on Monday. Prices have advanced 47% this year, outperforming other precious metals, with gold... 

As race for energy metals heats up, nickel expected to benefit most from EV revolution

By: Henry Lazenby     13th October 2017 Nickel prices stand to gain most from the advent of electric vehicles (EVs), Bank of America Merrill Lynch (BofAML) said on Friday in its latest ‘Global Metals Weekly’ report. According to the research team, despite China remaining an important driver of market demand, following on from being the... 

As race for energy metals heats up, nickel expected to benefit most from EV revolution
Photo by Thakadu Battery Materials
A lack of investment in mining capacity may mean that the battery industry could face an extended period of nickel sulphate supply shortfalls

Billionaire Agarwal increases stake in Anglo American to 19%

By: Bloomberg     13th October 2017 Billionaire Anil Agarwal has increased his stake in Anglo American to 19%, making him the biggest shareholder in the London blue-chip mining company. Agarwal’s Volcan Holdings Plc bought 102.2-million shares in Anglo, according to a regulatory filing Friday. The Indian billionaire, who said last... 

Billionaire Agarwal increases stake in Anglo American to 19%
Photo by Bloomberg
Anil Agarwal

World's largest pink diamond expected to fetch up to $30m at auction

By: Reuters     13th October 2017 "The Pink Raj", an intense pink diamond described by experts as the world's largest, is expected to fetch up to $30-million when it is auctioned in Geneva next month. The stone, which weighs just over 37 ct, was displayed by auction house Sotheby's in London this week. 

Anglo Asian lifts Q3 gold output as new mine starts producing

By: Mariaan Webb     13th October 2017 Gold/copper/silver miner Anglo Asian on Friday reported a 2 300-oz quarter-on-quarter production increase as the benefits of a strategic review are starting to show and its newest mine – Ugur – starts contributing to output. The new Ugur openpit started production in September and already has... 

Anglo Asian lifts Q3 gold output as new mine starts producing

Bluejay makes key feasibility appointments, changes project name

By: Mariaan Webb     13th October 2017 Mineral sands project developer Bluejay Mining on Friday announced the appointment of four consultants to advance key elements of the feasibility study for its newly renamed Dundas ilmenite project, in Greenland. The consultants that will work on the feasibility study for project, which was... 

Bluejay makes key feasibility appointments, changes project name

Dalradian gets another $20m cash injection on warrant exercises

By: Henry Lazenby     13th October 2017 Canadian gold explorer Dalradian Resources reported a C$19.96-million cash injection after holders of common share purchase warrants originally issued on October 7, 2015, were exercised. The Toronto-headquartered company, with equity listings on both the TSX and Aim, said about 50.18-million of... 

Barrick’s Q3 output shrinks 10%

By: Henry Lazenby     13th October 2017 The world’s largest gold producer by output Barrick Gold has reported 10% fewer ounces produced at all its major mines for the three months ended September 30, according to the company’s third-quarter production results, published on Thursday. The Toronto-headquartered company produced... 

Barrick’s Q3 output shrinks 10%
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