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Eldorado in possible pickle for ‘breach of contract’ in Greece – NGO

By: Henry Lazenby     30th May 2017 Gold producer Eldorado Gold could be subject to arbitration after the Greek government last month announced its intention to take the company to mediation over a possible breach of contract relating to its ability to produce precious metals in Greece. The Greek government on April 11 assigned a... 

Eldorado in possible pickle for ‘breach of contract’ in Greece – NGO
Photo by Eldorado Gold
Skouries project development, Greece

Vast gains approval needed to secure funding for Romania projects

By: Creamer Media Reporter      Updated 2 hours 10 minutes ago The Reserve Bank of Zimbabwe (RBZ) has given the necessary approval for the disposal by Aim-listed Vast Resources of noncontrolling interests in the Pickstone-Peerless gold mine and the Giant gold project, in Zimbabwe. In January, Vast entered into an agreement with SSCG Africa Holdings (SSA),... 

Bluejay advances permitting process for Greenland titanium project

By: Mariaan Webb     Updated 2 hours 41 minutes ago Aim- and FSE-listed Bluejay Mining has concluded the public preconsultation phase of the permitting process for its Pituffik titanium project, in Greenland, and will now move on to the public consultation phase of the final draft environmental-impact assessment (EIA) and social-impact assessment... 

Mining service company shares outstrip oil peers

By: Reuters     Updated 1 hour 38 minutes ago Companies supplying miners with equipment and services have performed better than their oil sector peers, buoyed by spending on new technology and expectations the demand outlook for other minerals is more bullish than for fuel. The index of mining services companies, such as Atlas Copco, Sandvik... 

Mining service company shares outstrip oil peers

Alba Minerals’ CEO to step down

By: Creamer Media Reporter      Updated 1 hour 46 minutes ago Michael Nott will step down as CEO of Aim-listed Alba Mineral Resources, effective June 1. He will, however, remain on the company’s board as nonexecutive director. 

Scoping study on Dakota’s Portugal project nearing completion

By: Mariaan Webb     29th May 2017 Lithium explorer Dakota Minerals has received the results of metallurgical test work on material from its Sepeda petalite project, in Portugal, paving the way for the completion of a scoping study in the next two weeks. Dakota Minerals, which trades on the ASX and Frankfurt Stock Exchange,... 

Scoping study on Dakota’s Portugal project nearing completion

Expansion tenure secured for Plymouth’s Spain project

By: Mariaan Webb     29th May 2017 ASX-listed Plymouth Minerals and its Spanish partner Sacyr subsidiary Valoriza Mineria have secured an expansion tenure surrounding the San Jose project, in Spain, which they plan to develop as an openpit operation with an onsite treatment plant to produce lithium carbonate. The expansion tenure... 

CoAL’s share price rises as Minister lifts Makhado water licence suspension

By: Anine Kilian     29th May 2017 Triple-listed Coal of Africa Limited’s (CoAL’s) shares on the JSE rose by 8.51% on Monday morning after the company announced that Water and Sanitation Minister Nomvula Mokonyane had lifted the suspension of the integrated water use licence (IWUL) for the Limpopo-based Makhado project. The IWUL... 

CoAL’s share price rises as Minister lifts Makhado water licence suspension
CoAL CEO David Brown

Diamond industry faces headache as key US market takes a knock

By: Bloomberg     26th May 2017 In the diamond industry, the only place that really matters is the US, and the market is starting to look a little shaky. In a country where consumers buy almost half the world’s gems, Tiffany & Co. and Signet Jewelers this week reported disappointing sales. That’s a blow to expectations that... 

Dartbrook sale completed – Anglo American

By: Esmarie Swanepoel     29th May 2017 Diversified miner Anglo American has completed the sale of its 83.33% interest in the Dartbrook coal mine, in New South Wales to ASX-listed Australian Pacific Coal (APC). The two companies at the end of 2015 agreed to the A$50-million transaction, which included an upfront cash payment of... 

Savannah earns 20% stake in Rio Tinto’s Mutamba project

By: Megan van Wyngaardt     Updated 21 minutes ago A recently completed scoping study at the Mutamba heavy minerals mine, in Mozambique, has shown that the mine is capable of sustaining a 30-year mine life, based on a resource of 451-million tonnes at 6% total heavy minerals with relatively modest capital requirements. Being developed in... 

Tanzania govt gives go ahead to Edenville to build bigger Rukwa power plant

By: Megan van Wyngaardt     Updated 54 minutes ago Aim-listed Edenville Energy has received a formal request from the Tanzania Ministry of Energy and Minerals (MEM) for the company to proceed with the development of its 120 MW Rukwa coal-to-power project. Earlier this year, the government released an updated power master plan, which included the... 

Australia looks to use clean energy funds for carbon capture

By: Reuters     Updated 2 hours 21 minutes ago The Australian government said on Tuesday it would introduce legislation to allow clean energy funds to back carbon capture and storage projects, a move that could see such money going to coal-fired plants even as the nation combats climate change. Environment and Energy Minister Josh... 

Image places A$52m price tag on WA mineral sands project

By: Esmarie Swanepoel     Updated 2 hours 59 minutes ago The Boonanarring/Atlas mineral sands project, in Western Australia, will require a capital investment of about A$52-million to develop, ASX-listed Image Resources reported on Tuesday. A bankable feasibility study (BFS) estimated that the Boonanarring deposit would deliver some 1.1-million tonnes... 

Sumatra restarts production at Tembang’s Berenai openpit, lowers guidance

By: Esmarie Swanepoel     Updated 3 hours ago Indonesia-focused Sumatra Copper & Gold has restarted ore production from its Berenai openpit operation, at its Tembang gold/silver mine, but has warned of lower production during the June quarter. The company in February warned that ore production at Berenai would be delayed after the original... 

Adani strikes tax deal with Qld government

By: Esmarie Swanepoel     Updated 3 hours ago Indian major Adani has struck a deal with the Queensland government on royalty payments for its $16.5-billion Carmichael coal mine. The royalty arrangement, which was backed by the state Cabinet, meant that the project was back on track, with Adani’s board expected to make a final investment... 

Qld to help METS sector, turn ‘good ideas into commercial products’

By: Esmarie Swanepoel     Updated 3 hours ago Queensland’s mining equipment, technology and services (METS) sector has been invited to apply for the state government’s dedicated late-stage industry accelerator programme, which aims to fast-track innovation in the market. “Delivering the accelerator and other programmes that will drive METS... 

Qld to help METS sector, turn ‘good ideas into commercial products’

Poseidon terminates Windarra gold deal

By: Esmarie Swanepoel     Updated 3 hours ago ASX-listed Poseidon Nickel has scrapped a A$3-million deal with fellow-listed GTI Resources over the Windarra gold rights, in Western Australia. The two companies in January agreed that Poseidon would transfer the Windarra gold rights to GTI Resources, with the payment to be made in stages. 

Metro signs LoI with Chinese offtaker

By: Esmarie Swanepoel     Updated 3 hours ago Bauxite developer Metro Mining has signed a non-binding letter of intent (LoI) with Chinese chemicals group Shandong Aluminium Company (Lubei) for the supply of up to one-million tonnes a year of bauxite, over a three-year period, from the Bauxite Hills mine, in Queensland. The supply agreement... 

Southern Gold investigates underground options at Cannon

By: Esmarie Swanepoel     Updated 3 hours ago ASX-listed Southern Gold is actively reviewing a number of scenarios for the development of an underground mine at the Cannon project, in Western Australia. The company said that an experienced mining executive has been appointed to review different development scenarios, to determine if a... 

Sentula said to identify assets to recover money after fraud

By: Bloomberg     Updated 4 hours ago Sentula Mining has identified assets that could be sold to recover some of the R383-million ($30-million) in civil damages being sought from a former director, the first significant progress in the case since the amount was awarded more than six years ago, according to a person familiar with the... 

AuRico Metals publishes positive PEA for Kemess East gold/copper project

By: Henry Lazenby     30th May 2017 Canadian gold producer AuRico Metals has published a positive preliminary economic assessment (PEA) for the Kemess East gold/copper project, even when considered as a stand-alone project, not part of the Kemess underground project, the company announced Monday. The Kemess East PEA evaluated a... 

Spencer appointed as Aurania president; shareholders approve EcuaSolidus acquisition

By: Henry Lazenby     30th May 2017 Junior explorer Aurania Resources has appointed board member Dr Richard Spencer as its new president. Spencer, who will continue to act in his current roles of president and CEO of TSX-listed U3O8 Corp, will be responsible for the financial and operational performance of Aurania, as it searches... 

New projects spur rebound in Chilean mining jobs – recruiter

By: Reuters     29th May 2017 Companies have stepped up their requests for engineers and other positions at early stage mining projects in Chile, a local recruiter said on Monday, in a further sign of activity warming up in the industry. Chile is the world's biggest producer of copper, which makes up over half its export... 

Veladero strike ends; formal dialogue with trade union estabished

By: Henry Lazenby     29th May 2017 Workers belonging to the AOMA union at the Veladero mine, in San Juan province, Argentina, has restarted work on Monday afternoon after downing tools early on Sunday. Barrick did not elaborate on the union’s issues of concern, but said it is in dialogue with union leadership to “seek a timely... 

Scinta buys South32’s Davel right for R187m

By: Megan van Wyngaardt     29th May 2017 Local coal miner Scinta South Africa will buy diversified miner South32’s 400-million-tonne Davel mining right, in Mpumalanga, for R187-million. As part of the transaction, Scinta has also acquired the Ermelo Mines’ infrastructure, railway loop and discard dump. Certain historical liabilities... 

NUM vows to fight alleged racism at Kimberley Ekapa Mining Joint Venture

By: African News Agency      29th May 2017 The National Union of Mineworkers (NUM) at Kimberley Ekapa Mining Joint Venture (KEM JV) said on Monday that it was “very concerned and disturbed” by the manner in which the mine management was allegedly treating the workers and victimising its leadership at the mine. This comes after a slew of... 

Zambezi Protocol providing strategic direction to identity-changing Chamber of Mines 

By: Martin Creamer     29th May 2017 The 128-year-old Chamber of Mines of South Africa provided an important indicator of its intended new direction when it revealed that the Zambezi Protocol would be its guiding light as it embarked on its identity and name-change programme. Under unanimously elected new president of Mxolisi Mgojo,... 

Mining Weekly Online’s Martin Creamer asks new Chamber of Mines office bearers to spell out the influential institution’s decision to change its 128-year-old name and identity. Photographs and Video: Duane Daws. Video Editing : Lionel d Silva.

Banro welcomes safe return of kidnapped employees

By: Natasha Odendaal     29th May 2017 The four employees kidnapped in March while working at dual-listed Canadian gold mining company Banro’s Namoya gold mine, in eastern Democratic Republic of the Congo, have been released after a “long and difficult ordeal”. The company on Monday announced the safe return of its employees, three... 

India considering incentives for foreign companies in hydrocarbon sector

By: Ajoy K Das     29th May 2017 The Indian government is working on a draft proposal to offer upfront incentives, including a capital subsidy and liberal export rules, for foreign oil and gas companies that are expected to participate in the newly unveiled open acreage hydrocarbon bidding process. According to an official... 

UK firm acquires 10% of DRDGold

By: Anine Kilian     29th May 2017 UK-based investment company Ruffer has acquired 10% of the total issued ordinary share capital of JSE-listed DRDGold. DRDGold, led by CEO Niel Pretorius, recovers gold from the retreatment of surface tailings. 

Oz vanadium explorer expands investor base with Frankfurt listing

By: Mariaan Webb     29th May 2017 Western Australia-based Technology Metals Australia is pursuing a dual listing on the Frankfurt Stock Exchange to broaden its European investor base. The ASX-listed company, which is conducting drilling at the Gabanintha vanadium project, near Meekatharra in Western Australia, said on Monday that... 

WA Premier revives plan to scrap iron-ore levy as it seeks upfront cash

By: Esmarie Swanepoel     29th May 2017 Western Australian Premier Mark McGowan has revived the possibility of scrapping a 25c/t levy on iron-ore produced from the state, in exchange for up-front payments. The Premier over the weekend admitted that the state government was weighing the option of a ‘buy-out’ of the lease rental fee in... 

WA Premier revives plan to scrap iron-ore levy as it seeks upfront cash

New Qld policy approach leaves no room for Carmichael ‘tax holiday’

By: Esmarie Swanepoel     29th May 2017 The Queensland government has unveiled plans for a new policy to unlock the development of the Galilee and Surat basins, as well as the North West minerals province, with Premier Annastacia Palaszczuk saying that the state Cabinet had unanimously agreed upon the new policy approach. Treasurer... 

Kidman/Marindi tussle starts

By: Esmarie Swanepoel     29th May 2017 The legal battle between ASX-listed Kidman Resources and fellow-listed Marindi Resources was launched in the Supreme Court on Monday. Marindi in November of last year started legal proceedings claiming that that Kidman had failed to comply with a binding agreement to sell lithium rights to Marindi. 

Sheffield gets another offtake bite

By: Esmarie Swanepoel     29th May 2017 Mineral sands developer Sheffield Resources has inked a cornerstone ilmenite offtake memorandum of understanding (MoU) over its Thunderbird mineral sands project, in Western Australia. The MoU with Chinese manufacturer CNNC Huayuan Titanium Dioxide Company covers some 45% of the estimated total... 

MZI secures more funding from shareholder

By: Esmarie Swanepoel     29th May 2017 Mineral sands miner MZI Resources has secured $5-million in funding to progress its land access programme at its Keysbrook project, in Western Australia. The debt financing, provided by the company’s major shareholder Resource Capital Fund, will enable MZI to pursue further arrangements with... 

Carbine gets heritage approval for Mt Morgan

By: Esmarie Swanepoel     29th May 2017 The Queensland Minister of Natural Resources and Mines has granted final heritage approval to the Mt Morgan gold/copper project. ASX-listed Carbine Resources said on Monday that the grant of the heritage approval was another milestone for the project, and was the first of three major approvals... 

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