http://www.miningweekly.com

Global Mining News in real time

Europe News

New highly profitable acid mine water solution unveiled

By: Martin Creamer     Updated 51 minutes ago A process has been developed that yields handsome profits by converting acid mine water into valuable fertiliser materials. The process, which purifies the water free of charge, removes all of the total dissolved solids and converts them into saleable materials. 

Oil and gas discoveries at 64-year low as price slump hits exploration budgets

By: Creamer Media Reporter      Updated 5 hours ago Conventional oil and gas discoveries outside North America have fallen to the lowest level since 1952, with recoverable resources of only 12-billion barrels of oil equivalent having been discovered in 2015. Analysis from NYSE-listed IHS, which was published on Tuesday, showed that the volume of... 

De Beers ‘encouraged’ by stable rough diamond demand

By: Creamer Media Reporter      Updated 6 hours ago Although De Beers’ rough diamond sales were lower for the fourth sales cycle of this year than in the third, the diamond miner said it was “encouraged by the continued stability of demand for rough diamonds”. De Beers sold about $630-million of diamonds in the fourth sales cycle up to May 23,... 

De Beers ‘encouraged’ by stable rough diamond demand

Bacanora raises $11.2m for Sonora lithium project

By: Samantha Herbst     23rd May 2016 TSX-V- and Aim-listed project developer Bacanora Minerals has raised $11.2-million for its Mexico-based Sonora lithium project, which is considered one of the largest lithium resources worldwide. Bacanora raised the funds through a share placement of 9.75-million shares at 79p a share, with... 

First permanent infrastructure being built at new DRC tin mine

By: Martin Creamer     23rd May 2016 The first permanent mining infrastructure is being built at the proposed new tin mine at Bisie, in the Democratic Republic of Congo (DRC), for which $130-million is being raised. Alphamin Resources CEO Boris Kamstra said the return airway drive being built would be used to acclimatise mining... 

First permanent infrastructure being built at new DRC tin mine
Photo by Duane Daws
Alphamin CEO Boris Kamstra

Regulator asks China Molybdenum how it will finance Brazil buy

By: Reuters     23rd May 2016 China Molybdenum (CMOC) said Chinese regulators have asked it to disclose how it will finance its $1.5-billion acquisition of Anglo American Plc's niobium and phosphates business in Brazil. The request comes after CMOC, one of China's largest producers of molybdenum, agreed to buy... 

Despite delay, Denison and GoviEx asset merger to create new African uranium champion

By: Henry Lazenby     20th May 2016 A new Africa-focused uranium champion is in the making, with the planned combination of Canadian explorers Denison Mines and GoviEx Uranium’s assets on the continent which, once completed, was expected to comprise the largest undeveloped uranium resource base in the world. Despite the partners... 

Despite delay, Denison and GoviEx asset merger to create new African uranium champion

Mining licence fees now SMS-enabled in forward-striding Tanzania

By: Martin Creamer     20th May 2016 The Tanzanian online mining cadastre system now allows licence holders to request the total licence fees they owe via short message service (SMS). The addition of SMS extends the range of payment functionality that the Ministry of Energy and Minerals offers to its customers, the FlexiCadastre... 

Mining licence fees now SMS-enabled in forward-striding Tanzania
Tanzanian president John Magufuli

Oil Search signs MoU to sell down InterOil assets following same-day acquisition

By: Samantha Herbst     20th May 2016 Following ASX-listed oil and gas major Oil Search’s successful acquisition of Papua New Guinea-focused InterOil Corporation for $2.2-billion, or $40.25 a share, Oil Search reported on Friday that it had signed a memorandum of understanding (MoU) with multinational integrated oil and gas major... 

Oil Search signs MoU to sell down InterOil assets following same-day acquisition

Gold heads for biggest weekly drop in eight on Fed rate outlook

By: Reuters     20th May 2016 Gold steadied after two days of losses on Friday, but was set for its biggest weekly slide in eight weeks on the back of a firmer dollar and indications from the US Federal Reserve that it could raise interest raise rates sooner than expected. New York Fed President William Dudley said on... 

Too costly to shut: Mine sales stumble on looming clean-ups

By: Reuters     19th May 2016 Major miners are trying to avoid hundreds of millions of dollars in closure costs by selling off pits, as cash is tight due to a prolonged commodities price slump, but the crippling cost of environmental rehabilitation makes it tough to seal deals. Where mine sales have gone ahead, production is... 

Too costly to shut: Mine sales stumble on looming clean-ups
BHP Billiton held on to its loss-making Nickel West operation after failing to find a buyer. The business is estimated to have $1-billion in closure liabilities.

Transparency equals bankability, World Diamond Congress hears

By: Martin Creamer     19th May 2016 The large number of bad-debt bankruptcies in the diamond industry in recent years was aired on the second day of the 37th World Diamond Congress in Dubai, where much emphasis was again placed on the critical need for financial transparency. De Beers commercial development head Howard Davies drew... 

Transparency equals bankability, World Diamond Congress hears
World diamond top-brass Rony Unterman, Ernie Blom, Yoram Dvash, Julien Drybooms

Avalon diversifies into lithium

By: Mariaan Webb     19th May 2016 Copper and iron-ore developer Avalon Minerals on Thursday announced that it would move into lithium as a complimentary business to its flagship Viscaria copper project, in Sweden. The Australian company has secured interests in two main areas of lithium occurrences in Finland, including the... 

Blue diamond soars to world record $57.6m at Christie's

By: Reuters     19th May 2016 The Oppenheimer Blue, a large and rare diamond, sold for 56.837-million Swiss francs ($57.6-million) at an auction on Wednesday, setting a world record for any gem after a dramatic see-saw bidding process, said Christie's in Geneva. "It's the most expensive jewel ever sold at auction," Christie's... 

Antofagasta signs community deal in Chile, ending mine legal battle

By: Reuters     18th May 2016 Chilean copper miner Antofagasta said on Wednesday it signed an agreement with a local community that has long opposed the tailings dam at its Los Pelambres flagship mine, ending protests and a legal battle that sought to have the dam demolished. Residents of the small town of Caimanes in... 

Diamonds no longer forever as miners seek new marketing polish

By: Reuters     18th May 2016 The Diamond Producers' Association (DPA), set up last year, to spur demand, will launch a slogan early in June to replace "diamonds are forever", viewed as one of the most successful campaigns of all time but in need of updating, it said on Wednesday. Diamond demand has stagnated, subdued by a... 

Best friends? Anglo keeps De Beers' diamonds

By: Reuters     18th May 2016 Mining group Anglo American has retained De Beers as a prize asset after a radical overhaul in the belief that surging Chinese and Indian demand for diamonds will outstrip dwindling supply even after a 2015 crunch. The group, in which Anglo American has an 85% stake, has seen its market share... 

Impala Platinum CEO to step down

By: Martin Creamer     18th May 2016 Impala Platinum (Implats) on Wednesday announced that its CEO, Terence Goodlace, would step down on December 1. Goodlace, 57, who began as a R200-a-month learner miner, has been with the platinum-group metals mining, processing, refining and marketing company for six years. 

Impala Platinum CEO to step down
Photo by Duane Daws
Implats CEO Terence Goodlace

Minister launches long-term acid mine water solution 

By: Martin Creamer     18th May 2016 Water Minister Nomvula Mokonyane on Wednesday launched a long-term project to turn acid mine drainage (AMD) into safe water for commercial use as either industrial or potable water. The Minister chose the old south-west vertical shaft area of the dormant East Rand Proprietary Mines (ERPM) to... 

Minister launches long-term acid mine water solution
Photo by Duane Daws
Water Minister Nomvula Mokonyane

World diamond body emphasises need for transparency 

By: Martin Creamer     18th May 2016 Transparency, responsibility and sustainability are at the heart of the discussions at the thirty-seventh World Diamond Congress, which is taking place in Dubai. "From mining to diamond cutting and polishing, and from jewellery making to retailing, we must ensure that we’re all working in a fair... 

World diamond body emphasises need for transparency
World diamond president Ernie Blom

Mining companies urged to consider price forecasting with greater care

By: Simon Rees     18th May 2016 While predicting future metals prices is a vital tool for assessing the viability of a deposit, a project’s economics or the potential income an operation could expect to generate, the prognostications often prove wrong. “Studies of past forecasts show that the success rate for commodity price... 

Lorimer decries mining’s production crash, job losses

By: Martin Creamer     17th May 2016 Mineral Resources Shadow Minister James Lorimer MP on Tuesday decried the sharply reduced output of South Africa’s once-colossal mining industry and warned that mining's “jobs bloodbath” had only just begun. State statistics compiler StatsSA reported earlier this month that South Africa’s... 

Lorimer decries mining’s production crash, job losses
Shadow Minerals Minister James Lorimer

Miners adapting to more austere fundamental backdrop – report

By: Henry Lazenby     17th May 2016 Mining companies, in general, are adapting to a more austere fundamental backdrop, despite a recent announcement in Chinese media that the country would be removing stimulus and reprioritising reforms, which caused significant apprehension during Bank of America Merrill Lynch’s (BofAML’s) recent... 

Miners adapting to more austere fundamental backdrop – report

Govt push can make South African mining fly again – Harwood 

By: Martin Creamer     17th May 2016 South Africa has the potential to be a mining giant again especially if it receives the kind of push that Tanzania is now receiving under its new president. Speaking to Creamer Media’s Mining Weekly Online in a video interview on Tuesday after a recent visit to the East African country, Montero... 

Govt push can make South African mining fly again – Harwood
Photo by Duane Daws
Montero CEO Tony Harwood (right) with Martin Creamer

Moody’s predicts gold price will remain volatile, despite recent rally

By: Anine Kilian     17th May 2016 Following Moody’s large-scale review of the global mining sector in January, the ratings agency expected the price of gold to remain volatile. In a report released on Tuesday, Moody’s anticipated capital spending for gold miners – which fell to $8-billion in 2015 from $23-billion in 2012 – to... 

Moody’s predicts gold price will remain volatile, despite recent rally

Palladium left out of precious metals rally; investors shy away

By: Reuters     17th May 2016 Investor appetite for palladium-backed exchange-traded funds is failing to pick up after a dismal 2015, pointing to another difficult year for the metal despite the prospect of a deepening supply deficit. Market watchers are predicting the market shortfall for palladium will grow this year as... 

Antofagasta suffers setback on Chile investment plan approval

By: Reuters     16th May 2016 Chilean copper miner Antofagasta has suffered a setback as it seeks environmental permit approval for new investment at its Los Pelambres mine, in central Chile, but hopes to resolve the issue in coming days. Earlier this month, the London-listed company's operating unit, Antofagasta Minerals,... 

Eldorado announces $600m exit from China by selling remaining assets

By: Henry Lazenby     16th May 2016 Having sold its 82% interest in the Jinfeng mine to China National Gold Group for $300-million in cash late last month, Eldorado Gold on Monday announced the sale of its remaining two mines and one development project for $600-million, signalling the Canadian miner’s exit from China.... 

Eldorado announces $600m exit from China by selling remaining assets

Platinum bear cycle tipped to turn this year – report

By: Reuters     16th May 2016 Platinum's slide to seven-year lows in January marked the end of the 18-month bear cycle that saw it nearly halve in value, Metals Focus said in a report on Monday, as it forecast a shortfall in supply this year. However, a weak start to the year and limited investor demand will peg prices at $1... 

Bright interims, better output lift Lonmin share price

By: Martin Creamer     16th May 2016 The share price of platinum mining company Lonmin rose sharply on Monday on net cash generation, higher platinum sales and the expectation of platinum demand from the automotive and chemical sectors remaining firm. Lonmin’s share price rose 17.57% to R42.56 a share in early JSE trade after Lonmin... 

Bright interims, better output lift Lonmin share price
Lonmin CEO Ben Magara

Mining deal activity falls in Q1, but private capital foray signals rebound

By: Esmarie Swanepoel     16th May 2016 Global merger and acquisition (M&A) deal value in the mining and metals sector fell by 45% during the first quarter of 2016, to $3.3-billion, compared with the previous corresponding period. Advisory firm EY revealed in its latest global capital raising and M&A report on Monday that global deal... 

Mining deal activity falls in Q1, but private capital foray signals rebound

Finnish government plans $113m funding for nickel mine – sources

By: Reuters     13th May 2016 The Finnish government is planning to inject around €100-million ($113-million) into Terrafame Mining, the state-owned company that runs Talvivaara's former nickel mine, but may eventually still have to close the operation, sources said. The government is planning to propose this month that... 

Strong platinum leadership needed – Sibanye

By: Martin Creamer     13th May 2016 Strong leadership is required in the fragmented South African platinum mining sector, which newcomer Sibanye Gold described on Friday as having too much unprofitable production and questionable capital allocation. Speaking at the 2016 Oxford Platinum Lectures, CEO Neal Froneman told his UK... 

Strong platinum leadership needed – Sibanye
Photo by Duane Daws
Neal Froneman

Jubilee exceeds design capacity at Dilokong chrome recovery plant

By: Samantha Herbst     12th May 2016 Dual-listed mine-to-metals specialist Jubilee Platinum subsidiary Jubilee Tailings Treatment Company (JTTC) says its chrome recovery plant, which is part of its platinum-group metals-bearing tailings processing project on Dilokong chrome mine, is outperforming original design numbers, with the... 

Platinum out of low-price straightjacket – survey

By: Martin Creamer     12th May 2016 Platinum is leaving its low price past behind it and the palladium deficit is deepening, the Thomson Reuters GFMS platinum report states. The team forecasts a $1 005/oz average platinum price in 2016 and a $595/oz palladium price, with GFMS precious metals mining manager William Tankard expecting... 

Platinum out of low-price straightjacket – survey
Photo by Reuters
Palladium

Anglo dangles goody-two-shoes Grosvenor to lure coal buyers

By: Martin Creamer     12th May 2016 At most other times in the mining cycle, news of the sale of a goody-two-shoes metallurgical coal asset like Australia’s Grosvenor would have had buyers queuing up to buy. But disposal of even alluring resources in today’s uncertain and low-price environment needs to be accompanied by an enticing... 

Anglo dangles goody-two-shoes Grosvenor to lure coal buyers
Photo by Bloomberg
Seamus French

Greater investor interest in ETFs drives gold demand to record levels in Q1

By: Mia Breytenbach     12th May 2016 Global gold demand reached 1 290 t in the first quarter of 2016 – a 21% year-on-year increase and the second-highest quarter on record, according to the World Gold Council’s (WGC’s) latest Gold Demand Trends (GDT) report. The higher demand was driven by significant inflows into exchange-traded... 

Greater investor interest in ETFs drives gold demand to record levels in Q1

Eldorado swings to Q1 headline loss, homes in on project pipeline

By: Henry Lazenby     12th May 2016 Geographically diversified Canadian gold producer Eldorado Gold has swung to a first-quarter headline loss of $700 000, or nil per share, as gold sales volumes fell 27% year-on-year, along with slightly lower gold prices, resulting in a 29% drop in gold revenues. The company reported adjusted net... 

First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

Latest News: Australasia

more

Latest News: Americas

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
R/€ = 17.45Change: 0.11
R/$ = 15.64Change: 0.01
Au 1234.17 $/ozChange: -14.53
Pt 1008.00 $/ozChange: -3.00
 
Subscribe Now for $149
Subscribe Now for $149 Close