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European mining seemingly regaining lost lustre as at least one mine opens each year since 2008

By: Ilan Solomons     Updated 5 hours ago Europe is remarkable in that its mining industry predates the Roman Empire, yet large portions of unexplored territories with highly prospective resources remain, says European metals and minerals mining representative body Euromines president Mark Rachovides. Mattia Pellegrini, head of the raw... 

Ncondezi CEO departs

By: Megan van Wyngaardt Aim-listed coal miner Ncondezi Energy CEO Paul Venter will soon step down from his position, as well as his role as executive director. He will be replaced by the company’s current COO Chris Schutte. Venter’s reason for leaving as well as his date of departure was not divulged. The company also... 

Avocet production down partly owing to strike

By: Megan van Wyngaardt Aim-listed Avocet Mining produced 17 011 oz for the first quarter of the year, at a cash cost of $1 113/oz. This was lower than the company’s fourth quarter 2014 results, when it produced 19 503 oz at a cash cost of $1 052/oz, owing to a number of factors. Ore milling at the company’s Inata mine,... 

Metalloinvest swings to $177m Q1 net profit

By: Reuters MOSCOW – Russia's biggest iron-ore producer Metalloinvest swung to a net profit of $177-million in the first quarter of 2015, the company reported on Thursday. Metalloinvest, owned by Russia's third richest man Alisher Usmanov, reported a net loss of $542 million dollars for the last three months... 

Rich world should help emerging countries cut pollution – Glencore's Hayward

By: Reuters Rich countries should help developing countries like India limit their carbon emissions by supporting the building of more expensive but cleaner energy plants, Glencore chairman Tony Hayward said on Thursday. Hayward said that India, where hundreds of millions of people have no access to... 

Rich world should help emerging countries cut pollution – Glencore's Hayward
Photo by Bloomberg
Glencore chairperson Tony Hayward

Glencore's Zambia mining unit completes refinery upgrade

By: Reuters Zambia's Mopani Copper Mines (MCM) owned by Glencore said on Thursday it had completed upgrading a copper refinery at cost of $74-million seven months ahead of schedule. Mopani said in a statement that the completion of the upgrades at the Mufulira refinery located 385 km (239 miles) north of the... 

De Beers inviting bids for life-extending takeover of Kimberley Mines 

By: Martin Creamer South Africa’s De Beers Consolidated Mines (DBCM) on Thursday announced its intention to dispose of its Kimberley Mines as a going concern by competitive tender to a new owner able to extend the life of the historic operations beyond 2018 and preserve 650 jobs in the process. The current... 

De Beers inviting bids for life-extending takeover of Kimberley Mines
Photo by Duane Daws
Phillip Barton

Poland expects final list of investors in Kompania Weglowa in June

By: Reuters WARSAW – It will take until at least the second half of June to establish a new ownership structure for troubled Polish miner Kompania Weglowa, the deputy treasury minister in charge of mines restructuring said on Thursday. "I think that in the second half of June at the earliest we will have... 

Credit Agricole stops financing coal mining

By: Reuters French bank Credit Agricole said on Wednesday it would no longer finance coal mining or miners as lenders grow increasingly uneasy about funding coal due to environmental concerns. The decision, announced at a shareholder meeting in the former coal-mining city of Lille in northern France, won... 

BHP Billiton resolves ‘bribery’ allegations

By: Megan van Wyngaardt The investigations into BHP Billiton’s previously terminated minerals exploration and development efforts, as well as hospitality provided by the mining giant at the 2008 Beijing Olympic Games, has been concluded by the US Securities and Exchange Commission (SEC) and the US Department of Justice.... 

Jewellers back to black with rhodium, ruthenium

By: Reuters Ice-white platinum has long had enduring appeal in jewellery and experimental designers are now also turning to its lesser-known sister metals rhodium and ruthenium to produce work in darker hues. The deep gunmetal finish of black rhodium plate and the pure black of ruthenium are both becoming... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot

By: Martin Creamer The Chamber of Mines of South Africa on Wednesday revealed a strategic plan to get South Africa’s “great mining industry” back on the front foot. Speaking at the well-attended 125th annual general meeting (AGM) of the historic organisation, chamber president Mike Teke – who was re-elected for a... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot
Photo by Duane Daws
Chamber president Mike Teke (right) having a word with his vice-president Graham Briggs.

EU lawmakers seek ban on 'blood metals' in surprise vote

By: Reuters The European Parliament voted on Wednesday to ban all products that contain "blood metals" sold by African warlords, but the legislation is likely to be blocked by EU governments who fear it would impose an unrealistic burden on business. The surprise result marked a defeat for the pro-business... 

Xtract gets major discount on O’Kiep acquisition

By: Megan van Wyngaardt Aim-listed Xtract Resources has successfully renegotiated the deed of assignment for the acquisition of the O'Kiep copper sulphide tailings project, in the Northern Cape, which would result in a reduced cash payment of $2.88-million, a 28% reduction from the initial $4-million payment. Xtract... 

Xtract gets major discount on O’Kiep acquisition
Photo by Duane Daws
CEO Jan Nelson

S African thermal coal cargoes hold premium as power shortage bites

By: Reuters South African physical coal cargoes maintained a premium over Australian and European prices as rolling power black-outs due to a severe shortage in electricity generation threatened coal mining and ship loading capacity. South Africa's national utility Eskom - struggling with a serious liquidity... 

S African thermal coal cargoes hold premium as power shortage bites

China delays flake graphite restarts

By: Creamer Media Reporter Much of China’s flake graphite production remains offline following a prolonged suspension of operations in many areas owing to severe winter conditions. Benchmark Mineral Intelligence said on Tuesday while the closures had eased pressure on inventories that had been accumulated throughout 2014,... 

China delays flake graphite restarts

African Potash extends capital raise

By: Megan van Wyngaardt Aim-listed African Potash has extended the placing of new ordinary shares to raise funds to redeem outstanding convertible securities and for the group's ongoing working capital requirements. The exploration company would, by Friday, issue a further 25-million new shares at 0.3p apiece, raising... 

Armadale appoints new nonexec director

By: Megan van Wyngaardt Aim-listed gold miner Armadale has appointed Dr Andrew Tunks as a nonexecutive director, effective immediately. The Africa-focused company said Tunks was well placed to support its active development strategy, with proven experience in identifying and developing gold projects. 

South32 in superb second-day share surge

By: Martin Creamer The share price of the new South32 mining company soared superlatively on day two. The demerged entity shot up 14% on the Australian Stock Exchange (ASX), rose 6.23% on top of Monday’s 3% rise in early morning trade on the Johannesburg Stock Exchange (JSE), and even closed higher at £1.08 a share... 

South32 in superb second-day share surge
Photo by Duane Daws
Mike Fraser at South32 listing in Johannesburg.

Nyrstar agrees sale option for Peruvian mine

By: Reuters Belgium's Nyrstar, the world's largest zinc producer, has sold an option to buy its mothballed Peruvian mine in Coricancha to Canada's Great Panther Silver. Great Panther will pay $1.5-million for its option, with the possibility of extending it for another year for the same amount, Nyrstar said... 

Shell-BG deal may be end point rather than harbinger – Russell

By: Reuters There is a widespread assumption that weak commodity prices are likely to spark a wave of merger and acquisition activity as stronger companies seek to buy assets on the cheap. The $70 billion buyout of BG by larger rival Royal Dutch Shell is generally viewed by investors and analysts as the... 

Shell-BG deal may be end point rather than harbinger – Russell

South32 shares rise on JSE debut, BHP Billiton shares fall

By: Martin Creamer Value generation from the assets of South32 in the months ahead of its debut on the Johannesburg Stock Exchange (JSE) is indicative the upside potential of the triple-listed BHP Billiton spin-off company, which saw its shares end up well in the money at the JSE's close on Monday and those of BHP... 

South32 shares rise on JSE debut, BHP Billiton shares fall
Photo by Duane Daws
Mike Fraser (left) with Martin Creamer at South32 listing.

Talga finds site for German plant

By: Esmarie Swanepoel ASX-listed junior Talga Resources has identified a leased site in central Germany for its proposed graphite-to-graphene demonstration plant. Earlier this year, Talga said it would spend about A$1-million to construct the demonstration plant in Germany, capable of producing between 100 t/y and... 

BHP Billiton spin-off South32 makes debut

By: Esmarie Swanepoel BHP Billiton spin-off South32 made its debut on the ASX on Monday at A$2.13 a share, giving the Australia- and South Africa-focused company an A$11.96-billion market capitalisation. The demerged entity will on Monday also start trading on the JSE and the LSE, where it has secondary listings. 

Nord Gold says Q1 net profit at $88.5m vs $24.6m in Q1 of 2014

By: Reuters Russian gold miner Nord Gold said on Monday its first-quarter net profit more than tripled year-on-year to $88.5-million from $24.6-million seen a year earlier, positively affected by higher refined gold production. The net profit was also affected by the fact that some gold produced at the end... 

ICMM appoints new president, CEO

By: Natasha Odendaal The International Council on Mining and Metals has appointed Tom Butler as president and CEO, succeeding Anthony Hodge from July 13. Butler, who was International Finance Corporation global head of mining since 2011, holds an engineering degree from Cambridge University and an MBA from Insead. 

Platinum price could test $1 000/oz in 2015 – report

By: Megan van Wyngaardt Although the platinum price is expected to average $1 170/oz this year, Thomson Reuters GFMS warns that it might test the $1 000/oz level during the year. “The bearish view is based on the increase in supply, more specifically the estimated 22% rise in South Africa’s mine production and 10% rise... 

Platinum price could test $1 000/oz in 2015 – report

Gold demand remains stable – WGC

By: Megan van Wyngaardt Gold demand for the first three months of this year was 1 079 t, down 11 t, compared with the first quarter of 2014, the World Gold Council (WGC) said in its latest ‘Demands Trends’ report, released on Wednesday.  In value terms, gold demand in the first quarter was $42-billion, down 7% compared... 

Gold demand remains stable – WGC

Caledonia produces 9 960 oz in Q1

By: Megan van Wyngaardt Zimbabwe-focused gold miner Caledonia Mining’s 49%-owned Blanket mine produced 9 960 oz in the first quarter of the year. Although output was 2.7% lower than in the first quarter of 2014, it was in line with expectations. 

ThyssenKrupp signs offtake deal for Madagascar rare-earth oxide

By: Megan van Wyngaardt German holding company Tantalus Rare Earths has signed a multiyear contract to supply ThyssenKrupp Metallurgical Products with rare-earth oxide (REO). Under the agreement, ThyssenKrupp would buy 30% of the yearly output of mixed REO produced at Tantalus’s flagship TRE project, in Madagascar. 

Rio Tinto growth plan creates value – CEO

By: Esmarie Swanepoel Mining giant Rio Tinto would continue with its push to grow capacity, despite the challenging environment, CEO Sam Walsh this week told the Merrill Lynch global metals, mining and steel conference, in Barcelona, Spain. “The recent environment has been difficult – as we have cut costs we have... 

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