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Zinc rally set to last as producer sees best price in decade

By: Bloomberg     21st July 2017 The rally in zinc prices has the potential to jump this year to levels not seen in a decade as demand continues to outstrip supply amid mine output disruptions, according to Hindustan Zinc, Asia’s biggest producer by market value. Prices may rise to about $3 000 a metric ton on the London Metal... 

Zinc rally set to last as producer sees best price in decade
Early works at the Gamsberg project in a 2015 file photo.

Tanzania concentrate export ban weighs on Acacia’s H1 performance

By: Natasha Odendaal     21st July 2017 Tanzania’s ongoing concentrate export ban, implemented in March, has significantly impacted on LSE-listed Acacia Mining’s results for the first six months of the year. Despite delivering its highest-ever first-half production levels during the period to June, Acacia now expects production to stay... 

Copenhagen Economics to study benefits of Kallak mining operation

By: Mariaan Webb     21st July 2017 London-listed Beowulf Mining has appointed Copenhagen Economics to commission an economic study of the benefits of a mining operation at Kallak, in Sweden. The study would seek to articulate the economic benefits to Jokkmokk and Norrbotten and provide a “big picture” of how a mining operation at... 

Global lead production set to stagnate after 2017 acceleration

By: Natasha Odendaal     21st July 2017 Following a decline in overall lead production worldwide in 2016, a slight rise in prices will drive a short-lived acceleration in global lead mine production growth in 2017. Subdued prices and a weak project pipeline in several major lead-producing countries will bring this rapid rate of growth... 

World copper market shows 80 000 t surplus in first four months of 2017

By: Henry Lazenby     21st July 2017 The world refined copper balance for the first four months of 2017 indicates a surplus of about 80 000 t, the International Copper Study Group (ICSG) reported on Thursday. It ascribed the surplus mainly to a decline in Chinese apparent demand, a market that currently accounts for about 48% of the... 

Iron’s surge to $70 draws out sceptics as prices reverse

By: Bloomberg     21st July 2017 Iron-ore’s strong start to the second half and surge above $70 a metric ton will probably fade through the year-end as demand from top buyer China slows and global mine supplies remain robust, according to Sucden Financial and Bank Julius Baer & Co. “Any significant uptick in seaborne cargoes... 

Moratorium infers intention to circumvent agreement – Leon

By: Martin Creamer     21st July 2017 The mineral rights moratorium gazette notice of Mineral Resources Minister Mosebenzi Zwane infers an intention to circumvent the underlying purpose of the agreement reached with the Chamber of Mines, Herbert Smith Freehills’ Africa partner and co-chair, Peter Leon, said on Friday. In particular,... 

Moratorium infers intention to circumvent agreement – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Africa practice partner and co-chair Peter Leon

Novo Litio still trying to resolve Portugal rights issue

By: Mariaan Webb     21st July 2017 Lithium developer Novo Litio’s shares remained suspended on the ASX on Friday – nearly a month since the company first halted share trading to confirm the legal status of its rights to the Sepeda project, in Portugal. Novo Litio is seeking to transfer a granted exploration licence and... 

Trump America-first pipeline plan draws ire of American oil

By: Bloomberg     21st July 2017 Donald Trump’s allies in the oil industry are warning the president that his bid to boost US steelmakers could backfire against their efforts to achieve his goal of "American energy dominance." The intense lobbying effort comes as the Commerce Department faces a Sunday deadline to give the... 

Glencore to invest $21m in Brazil's copper producer Paranapanema

By: Reuters     21st July 2017 Glencore has signed an agreement to invest up to 66-million reais ($21-million) into Brazilian copper producer Paranapanema, the Brazilian firm said in a securities filing. Paranapanema said the cash injection will give Glencore the right to appoint one board member and that the agreement is... 

Alacer completes Turkish Lira hedging contracts; eyes Çöpler capex saving

By: Henry Lazenby     21st July 2017 Turkey-focused miner Alacer Gold has completed foreign currency forward sales contracts to limit exposure to volatility of the Turkish Lira (TRY), the company announced on Friday. Alacer, which owns an 80%-stake and operates the country’s Çöpler mine, said the hedging programme covers about 40%... 

NexGen closes $110m financing, appoints new board member

By: Henry Lazenby     21st July 2017 Uranium explorer NexGen Energy has successfully closed a $110-million financing with Hong Kong-based CEF Holdings (CEF) and affiliates of its shareholders, comprising $50-million of common shares and $60-million principal amount of unsecured convertible debentures. Under terms of the financing,... 

Atlantic Gold updates Fifteen Mile Stream, Cochrane Hill resource estimates

By: Henry Lazenby     21st July 2017 TSX-V-listed Atlantic Gold has updated the compliant mineral resource estimates for its 100%-owned Fifteen Mile Stream and Cochrane Hill gold deposits, Nova Scotia. The company has in June completed resource definition drilling programmes on 25 m x 20 m centres with the objective of upgrading... 

Freeport Indonesia mine workers extend strike for fourth month

By: Reuters     21st July 2017 An estimated 5 000 workers at the giant Grasberg copper mine operated by Freeport-McMoRan's Indonesian unit will extend their strike for a fourth month, a union official said on Friday, in an ongoing dispute over layoffs and employment terms. The escalating labour issue comes as Freeport, the... 

Prophecy picks-up fourth vanadium play this year

By: Henry Lazenby     21st July 2017 Canadian project developer Prophecy Development Corp has agreed to acquire rights to a fourth vanadium project – it’s second this month. The Vancouver-based project developer has entered a binding letter agreement with Fairmont Resources to acquire the fully permitted Buttercup... 

Paladin teeters on the brink of receivership

By: Henry Lazenby     21st July 2017 Australian uranium player Paladin Energy is on the brink of receivership as its debts outweigh potential revenues. The ASX-listed miner, which will be stripped of its TSX-listing on August 10 for failure to meet the exchange’s ongoing listing requirements, said on Friday that it has received an... 

Paladin teeters on the brink of receivership
Photo by Bloomberg
Paladin Energy's Langer Heinrich Mine, Namibia

Zwane meets with Black Business Council to discuss Mining Charter

By: Ilan Solomons     21st July 2017 Mineral Resources Minister Mosebenzi Zwane on Friday met with Black Business Council (BBC) president Dr Danisa Baloyi, and her executives, to discuss the mining legislative framework and “related issues which have been in the public domain recently”, said the Department of Mineral Resources... 

Zwane meets with Black Business Council to discuss Mining Charter
Mineral Resources Minister Mosebenzi Zwane

Bokoni idled as JV partners Amplats, Atlatsa strike a deal

By: Natasha Odendaal     21st July 2017 Dual-listed Atlatsa Resources on Friday announced plans to implement a two-phase restructure plan that will see its joint venture (JV) Bokoni mine idled, with JV partner Anglo American Platinum (Amplats) acquiring the resources specified in the Central Block and Kwanda North prospecting rights. A... 

Bokoni idled as JV partners Amplats, Atlatsa strike a deal

Philippines' Duterte says government plans new mining law

By: Reuters     21st July 2017 Philippine President Rodrigo Duterte said on Friday the government will draft a new law for the country's mining industry, which he said pays too little in tax and not enough in compensation for any environmental damage. The fate of more than half of 41 mines in the Philippines, the world's top... 

Record gold production from Regis Resources

By: Mariaan Webb     21st July 2017 Gold and nickel miner Regis Resources on Friday reported record fourth-quarter and full-year gold production as higher grade satellite mill feed continues to have a positive impact on production at its Duketon mine in Western Australia. Regis increased its production from 79 223 oz in the March... 

Deflector holds potential for new orebody – Doray

By: Mariaan Webb     21st July 2017 Western Australian gold miner Doray Minerals is in the early stages of potentially defining a new orebody at its Deflector mine, MD Leigh Junk said on Friday, as the company reported the results of follow-up drilling at Deflector North. Junk reported that the company had encountered “bonanza... 

Gulf to ship smelters from South Africa to Indonesia in Q4

By: Mariaan Webb     21st July 2017 The refurbishment of the first two smelters that Australian company Gulf Manganese plans to use at its manganese alloys hub in Kupong, West Timor, is well under way, with shipment from South Africa to Indonesia expected to occur before the end of this year. Gulf reported on Friday that it had... 

Newcrest pours money into WA explorer to search for gold projects

By: Creamer Media Reporter      21st July 2017 Australian gold major Newcrest Mining will provide A$500 000 in funding to exploration company Encounter over the next 12 months to look for projects in northern Western Australia. The companies on Friday announced their project generation alliance, which will use Encounter’s project team to... 

‘Near-new’ processing plant puts Mt Mulgine on accelerated path

By: Mariaan Webb     21st July 2017 Tungsten developer Tungsten Mining is embarking on a fast-tracked, low capital expenditure (capex) development pathway for its Mt Mulgine project, in Western Australia, with the acquisition of a second-hand processing plant from Pilbara Minerals. Tungsten will pay A$600 000 for the “near-new”... 

Silver Lake reports strong production performance

By: Mariaan Webb     21st July 2017 Gold miner Silver Lake lifted its June quarter gold production by 37% quarter-on-quarter to 46 393 oz, taking full-year output to 148 244 oz – a 5% improvement on the previous year’s production performance. The company, which mines gold in the Mount Monger region of Western Australia, sold 37... 

Silver Lake reports strong production performance

Court rules in favour of indigenous group in Fortescue mining land case

By: Reuters     21st July 2017 Australia's Federal Court has ruled in favour of an indigenous Aboriginal group's claims over land used by Fortescue Metals Group to mine millions of tonnes of iron ore in Western Australia's Pilbara region. The ruling gives the Yindjibarndi people exclusive native title rights over land... 

Court rules in favour of indigenous group in Fortescue mining land case
Fortescue Metals CEO Nev Power

Atlas meets production and cost guidance, generates A$100m in cash

By: Mariaan Webb     21st July 2017 Australian iron-ore junior Atlas Iron has managed to generate A$100-million in net cash from its operations in the 2017 financial year, while reducing its debt by $79-million to A$103-million, MD Cliff Lawrenson reported on Friday. The company delivered on its 2017 production and cash cost... 

Buffalo Coal in push to slash debt and improve safety and operational efficiency

By: Ilan Solomons     21st July 2017 South African bituminous and anthracite coal miner Buffalo Coal is determined to repay all its debt and continue to improve safety standards, while improving overall operating capability to ensure its operations become optimally efficient, says interim CEO Rowan Karstel, who was speaking to... 

Buffalo Coal in push to slash debt and improve safety and operational efficiency

Zaldivar copper mine workers extend wage talks with company

By: Reuters     21st July 2017 The union at Antofagasta's Zaldivar copper mine, in Chile, said on Thursday that workers and the company had failed to reach a wage deal and that they had agreed to extend government-mediated talks into next week. Last week, the union voted to strike, prompting the mediated talks and a new... 

Oil, chemical weakness force IHS materials price index lower

By: Henry Lazenby     21st July 2017 The materials price index (MPI) from Global Insight by IHS Markit fell 0.7% last week, driven by weakness in the oil and chemicals sectors, the firm announced on Thursday. It was the MPI’s first decline since the middle of June, as weakness in oil, down 1.5%, and chemicals, down 3.9%, pulled the... 

Brazil's Vale eyes 2017 iron-ore output at low end of forecast

By: Reuters     21st July 2017 Brazil's Vale, the world's largest iron-ore producer, said on Thursday that iron-ore output would close the year near the bottom of its forecast of 360 million to 380 million tonnes, despite record second-quarter production. Vale, said iron-ore production reached 91.85-million tonnes in the... 

Northern Superior returns exploration focus to TPK

By: Henry Lazenby     21st July 2017 Exploration junior Northern Superior Resources has initiated engagement protocols under its early exploration benefits agreement with the Neskantaga First Nation in parallel with its plans to restart exploration activities on its 100%-owned Ti-pi-haa-kaa-ning (TPK) project, in north-western... 

Sarama a step closer to receiving title to key Burkina Faso-based Bondi project

By: Henry Lazenby     21st July 2017 TSX-V-listed Sarama Resources on Thursday announced that the Burkina Faso Ministry of Mines and Quarries has issued an invoice, and Sarama has paid, for the transfer of the Djarkadougou exploration permit, which is host to the Bondi deposit. It is a critical part of Sarama’s growth strategy in... 

Fast-growing Chinese aluminium sector attracts increased govt scrutiny

By: Henry Lazenby     21st July 2017 As the Chinese aluminium sector comes under greater pressure to moderate its capacity growth, the government is cracking down on so-called ‘illegal’ smelters, analysis by Wood Mackenzie global aluminium markets senior research analyst Ami Shivkar has found. Shivkar argues that unqualified... 

Fast-growing Chinese aluminium sector attracts increased govt scrutiny

Mining Weekly iPhone and Android Apps available for free download 

     21st July 2017 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Industry retaliates, dismisses Zwane's proposed moratorium as 'unlawful'

By: Samantha Herbst     20th July 2017 An outraged Chamber of Mines (CoM) has dismissed Mineral Resources Minister Mosebenzi Zwane’s proposed moratorium on new mining right applications as “unlawful”, owing to the damage that the proposal might inflict on the embattled mining sector and because, according to the chamber’s legal team,... 

Industry retaliates, dismisses Zwane's proposed moratorium as 'unlawful'
Law firm Webber Wentzel partner Jonathan Veeran

Sharp Pan African gold production rise on way

By: Martin Creamer     20th July 2017 Gold-mining company Pan African Resources is looking forward to a much improved performance in 2018 with a substantial increase in gold production. The group’s gold production guidance for the financial year ending June 30, 2018, is 190 000 oz-plus, a 10% increase on 2017 gold production. 

Sharp Pan African gold production rise on way
Photo by Duane Daws
Pan African CEO Cobus Loots

Kumba raises Sishen FY production guidance

By: Creamer Media Reporter      20th July 2017 Kumba Iron Ore has raised the full-year production guidance for its Sishen mine, in the Northern Cape, to 28-million to 29-million tonnes, owing to the solid and consistent performance and ongoing improvements at the mine. The mine produced 7.9-million tonnes of iron-ore in the second quarter of... 

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