R/€ = 15.17 Change: 0.08
R/$ = 13.93 Change: 0.01
Au 1263.40 $/oz Change: -2.51
Pt 935.50 $/oz Change: 4.50

Exploration News

Xtract confident of company’s future after halting Chile mine investment

By: Megan van Wyngaardt     Updated 1 hour 19 minutes ago Xtract Resources’ decision to no longer provide finance to Minera Polar Limitada, the owner of the Chepica gold/copper mine, in Chile, has stopped the severe financial haemorrhaging the company had suffered over the past year. In September, Xtract decided to pull the plug on its investment in the... 

Amec calls for EDI extension

By: Esmarie Swanepoel     Updated 7 hours ago The Association of Mining and Exploration Companies (Amec) has called on the federal government to extend the Exploration Development Incentive (EDI) beyond 2017, saying it will take nearly a decade for the programme to demonstrate its true value. The EDI encourages shareholder investment in... 

Tawana takes option over WA lithium project

By: Esmarie Swanepoel     24th October 2016 Dual-listed Tawana Resources has signed an option agreement to earn into the Bald Hill lithium mine, in Western Australia. Under the terms of the agreement, Tawana will acquire all of the shares in Lithco for an option fee of A$25 000, payable immediately. The company can exercise the option at... 

Largo on track for further quarterly ops improvement as vanadium market turns

By: Henry Lazenby     23rd October 2016 A string of quarterly performance improvements by Canadian vanadium producer Largo Resources bodes well for third-quarter numbers at the Maracás Menchen mine, in Bahia state, Brazil, to follow the same record-setting trend. “The company is looking to beat previous numbers,” president and CEO Mark... 

Largo on track for further quarterly ops improvement as vanadium market turns
Photo by Henry Lazenby
Vanadium pentoxide at Largo Resources' Maracas Menchen mine, Brazil

South Africa’s chrome industry well placed to ‘grow and prosper’

By: Nadine James     21st October 2016 South Africa’s relatively easy to mine chromium reserves, combined with the current deficit in the chromium market as well as the expected increase in global stainless steel consumption, has ensured that the country’s chrome sector has every opportunity to grow and prosper, says the International... 

$400 000 raised to advance Sierra Leone gold project

By: Mia Breytenbach     21st October 2016 Multicommodity exploration and development company Sula Iron & Gold has raised $400 000 through a subscription for about 304.6-million new ordinary shares of 0.1p each in the company at a price of 0.1p per subscription share to advance its Ferensola gold project in northern Sierra Leone. The... 

$400 000 raised to advance Sierra Leone gold project
PROMISING PROSPECT The Ferensola gold project has an exploration target with a tonnage range of between five-million and seven-million tonnes at a grade of between 4 g/t and 8 g/t gold

Houndé progressing on time, within budget

     21st October 2016 Construction at West Africa-focused gold producer Endeavour Mining’s Houndé gold project, in Burkina Faso, which began in April, is progressing on schedule and within budget, with the first gold pour expected during the fourth quarter of 2017. The Houndé project is an openpit mine with a... 

Houndé progressing on time, within budget
Photo by Duane Daws
GOLD PRODUCTION Endeavour hopes to start producing gold in the fourth quarter of 2017

PTM to advance Waterberg PGM project to feasibility, construction decision stage

By: Mia Breytenbach     20th October 2016 Having received positive results from an independent prefeasibility study (PFS) on the Waterberg platinum group metals (PGM) project, in Limpopo, TSX- and NYSE-listed Platinum Group Metals (PTM) plans to advance the project to the completion of a feasibility study (FS) and a construction... 

Brazil to offer thousands of mineral rights areas in H1 2017

By: Reuters     20th October 2016 Brazil's government plans to sell rights to as many as 22 000 mineral exploration areas in the first half of 2017, the president of the country's geological service (CPRM) Leonardo Ledsham said on Wednesday. Brazil also plans to sell nine large, strategic mining projects, he said, including: the... 

India likely to offer 'on-tap' oil, gas exploration licensing next year

By: Ajoy K Das     20th October 2016 India will next year start offering ‘on-tap’ licensing for unexplored oil and gas field across the country through a continuous auctioning process under an open acreage policy. Despite facing challenges in attracting investments for greenfield projects in a depressed oil and gas pricing... 

Aguia raises cash for Brazil phosphate project

By: Esmarie Swanepoel     19th October 2016 Phosphate developer Aguia Resources has raised A$8.5-million through a share placement to fund the completion of a bankable feasibility study (BFS) at its Tres Estradas project, in Brazil. Aguia issued some 85-million fully paid ordinary shares to institutional and sophisticated investors, at... 

Southern Cross gets stake in Dateline

By: Esmarie Swanepoel     19th October 2016 Juniors Southern Cross Exploration and Dateline Resources have struck a deal that will see Southern Cross hold a 43% interest in Dateline, while Dateline will take over Southern Cross subsidiary Gunison Gold. Gunnison recently entered into agreements to acquire ownership of CRG Mining and SLV... 

Southern Cross gets stake in Dateline

Red Mountain targets energy metals sector

By: Esmarie Swanepoel     19th October 2016 Junior explorer Red Mountain Mining will expand its focus to include the energy metals sector, including lithium and cobalt, as well as gold. “The board of Red Mountain are excited at the opportunity that the burgeoning new energy metals sector represents,” said director Jeremy King on Wednesday. 

Geoscience BC opens door to small-time project generator

By: Henry Lazenby     15th October 2016 A British Columbia-focused gold explorer has staked several claims and conducted sampling exercises as a direct consequence of nonprofit organisation Geoscience BC unveiling data early this year from the first phase of a systematic geomagnetic survey for the mapping of the province's public... 

Energy metal demand to outpace output in wake of $20bn battery build boom

By: Henry Lazenby     14th October 2016 “The megafactories are coming.” This is the mantra of market analyst, founder and MD of Benchmark Mineral Intelligence Simon Moores, citing research showing more than $20-billion currently committed to creating new, or expanding existing lithium- (Li-) ion battery cell plants.  

Energy metal demand to outpace output in wake of $20bn battery build boom
Photo by Reuters
Lithium-ion batteries being manufactured

Further drilling planned for Boto, preparing for exploitation permit

     14th October 2016 Canadian gold miner Iamgold Corporation expects to start further drilling at its wholly-owned Boto gold project in eastern Senegal in November, once the rainy season ends, says Iamgold senior VP Craig MacDougall. The additional drilling will follow a drilling programme that confirmed the presence... 

Further drilling planned for Boto, preparing for exploitation permit
GOING FOR GOLD Iamgold has two Malian gold operations, as well as an exploration project in Senegal. The Senegal-Mali region is known for its gold deposits

Global decrease in exploration activity

     14th October 2016 Lower commodity prices, market instability, reduced investment and increased environmental awareness, have been cited as reasons for the global decrease in exploration activity by scientific agency for natural sciences the US Geological Survey (USGS). The agency released its yearly report on... 

Global decrease in exploration activity
EXPLORATION EMPHASIS Global exploration activity last year predominantly comprised of gold and copper exploration

Malawi starts geological mapping programme

     14th October 2016 Malawi has signed an agreement with a consortium of geological survey organisations for a countrywide Geological Mapping and Mineral Assessment Project (Gemmap) to assist in the growth of the minerals sector by providing detailed references for mineral exploration and mine planning. The... 

Malawi starts geological mapping programme
HIDDEN GEMS? In its efforts to boost mineral exploration and mining revenue, the Angolan government has launched a mapping project to discover untapped mineral reserves

Technological innovation will drive new exploration strategies  

By: Nadine James     14th October 2016 Increased innovation in analytical instrumentation and unmanned aerial vehicle, or drone, technology will further enhance the means and cost of exploration, thereby enabling the development of new exploration strategies, says mining consultancy The MSA Group. Oxford University and University of... 

Technological innovation will drive new exploration strategies
A NEED FOR INNOVATION New technologies could reduce the cost of greenfield exploration, which would hopefully result in an increase in activity which has been declining for several years

Ivanhoe releases maiden Kakula resource, confirms project as Africa’s largest-ever copper discovery

By: Henry Lazenby     13th October 2016 Following the release of a maiden resource statement for the Kakula discovery, which forms part of the larger Kamoa project, Africa-focused project developer Ivanhoe Mines has confirmed the Democratic Republic of Congo- (DRC-) based project as the largest copper discovery ever made on the... 

Ivanhoe releases maiden Kakula resource, confirms project as Africa’s largest-ever copper discovery

Oz Minerals and Cassini launch scoping study at WA project

By: Esmarie Swanepoel     13th October 2016 Copper/gold miner Oz Minerals and junior Cassini Resources have formalised a joint venture (JV) to potentially develop a new copper and nickel asset in Western Australia by 2020. In terms of the JV agreement, which was fist announced in August but signed on Thursday, Oz Minerals will earn up to... 

Mining juniors poised for recovery – PwC

By: Henry Lazenby     13th October 2016 Junior mining companies make up more than 50% of the total market capitalisation on the TSX Venture Exchange, up from 36% on June 30, 2015, a new report by professional services firm PwC has found. As evidenced in PwC Canada's 2016 Junior Mine report, titled ‘Signs of Life’, cash flows from... 

Four key themes to dominate mining in the Americas – report

By: Henry Lazenby     13th October 2016 Miners in both North and South America will remain focused on improving operational performance over the coming years, while divergent regulatory policies will either improve or worsen the industry’s welfare, recent analysis by market intelligence firm BMI Research shows. According to the think... 

Four key themes to dominate mining in the Americas – report

BC govt approves exploration adit at Seabridge’s growing KSM mine

By: Henry Lazenby     12th October 2016 The Toronto-based developer of one of the world’s largest gold/copper mines Seabridge Gold has been given the go-ahead by the British Columbia provincial government to proceed with an exploration adit into the Deep Kerr gold/copper deposit at the KSM project, 65 km north-west of Stewart. The... 

Centaurus raises funds for Brazilian exploration

By: Esmarie Swanepoel     12th October 2016 Metals developer Centaurus Metals is hoping to raise up to A$2-million through a rights issue to advance exploration at its copper and gold projects, in Brazil. The company on Wednesday said it would undertake a three-for-five renounceable rights issue, priced at 0.5c each, together with one free... 

Alamos agrees to Corex equity financing to fund Santana project

By: Henry Lazenby     12th October 2016 Alamos Gold has agreed to enter into a subscription agreement with fellow Canadian resource company Corex Gold to obtain financing for Corex's Santana project, in Sonora, Mexico. The total financing of $2.83-million will also be used to settle certain outstanding Corex indebtedness and for... 

In divergent strategy step-change, Denham targets later-stage projects

By: Henry Lazenby     11th October 2016 As the global mining markets turn a corner from what can be termed the biggest commodity downturn in living memory, private equity firm Denham Capital has changed tack, opting to invest in later-stage projects rather than driving exploration. Speaking to Mining Weekly Online from Houston, Texas,... 

In divergent strategy step-change, Denham targets later-stage projects

New mining money to be made as investment tide turns

By: Henry Lazenby     11th October 2016 There is a noted general perception among the investment community, including private equity firms and high-net-worth individuals, that there is some money to make again in the rebounding mining industry, PearTree Securities president Trent Mell tells Mining Weekly Online. “Following three years... 

New mining money to be made as investment tide turns

BHP JV partner reports positive drill results from Canada copper project

By: Samantha Herbst     11th October 2016 BHP Billiton joint venture (JV) partner Aston Bay Holdings has reported evidence of high-grade copper at the Storm copper project, in Nunavut, Northern Canada, following preliminary drill results from this year’s summer field season. TSX-V-listed Aston Bay, which owns 25% of the project, while... 

India’s Mines Ministry mulling over funding options for exploration projects

By: Ajoy K Das     10th October 2016 India’s Mines Ministry is studying funding options to help government-owned and -operated mining and mineral companies to step up their exploration efforts in a bid to increase the sector’s contribution to gross domestic product from 1% to 2%. A senior government official has said that most... 

SolGold turns down BHP proposal as interest in junior grows

By: Esmarie Swanepoel     10th October 2016 Mining giant BHP Billiton has offered to pay $30-million for a 10% interest in Aim-listed SolGold, but the Brisbane-based explorer has rejected the proposal and decided to stick with a $33-million financing deal with Maxit Capital and Newcrest Mining. In addition to a 10% shareholding in... 

Geopacific takes the plunge at Woodlark

By: Esmarie Swanepoel     7th October 2016 ASX-listed junior Geopacific Resources has elected to spend a further A$8-million at the Woodlark Island gold project, in Papua New Guinea, following the completion of a due diligence study and the preparation of an initial work programme. Geopacific is earning an 80% interest in the Woodlark... 

Nevsun sidesteps class action; mulls appealing precedent-setting Canadian suits

By: Henry Lazenby     7th October 2016 The British Columbia Supreme Court on Thursday rendered a precedent-setting decision  allowing Eritreans to bring civil action against Nevsun Resources. While the court refused to allow a class-action claim to proceed in court, Nevsun said it would consider appealing a court decision allowing... 

Nevsun sidesteps class action; mulls appealing precedent-setting Canadian suits
Photo by Nevsun Resources
Bisha mine, Eritrea

Mbeya power project slightly delayed by changes in government

By: Simone Liedtke     7th October 2016 Changes in the Tanzanian government have caused minor delays in Tanzania-based minerals exploration and development company Kibo Mining’s memorandum of understanding (MoU) with State-owned power utility Tanzania Electric Supply Company (Tanesco). The MoU involves the supply of power from the... 

Mbeya power project  slightly delayed by  changes in government
PRIORITY PROJECT The Mbeya coal-to-power project is located in the Mtwara corridor in south-west Tanzania, where government has prioritised infrastructure development

New mine plan for New Luika expected in Q1 2017

By: Simone Liedtke     7th October 2016 Low-cost Tanzanian gold producer Shanta Gold has significant growth potential across its assets and expects to release an updated mine plan for its New Luika gold mine in the first quarter of 2017. 

New mine plan for New Luika expected in Q1 2017
LOCAL WORKFORCE Ninety-three per cent of Shanta’s workforce is Tanzanian and about 40% lives in the local villages surrounding the mining sites of its projects

Tanzania-focused mineral sands explorer appoints new leadership

By: Simone Liedtke     7th October 2016 ASX-listed mineral sands exploration company Strandline Resources recently appointed Luke Graham as MD and CEO to lead the company in the execution of strategic development opportunities in Tanzania and Australia. 

Tanzania-focused mineral  sands explorer appoints new leadership
INFRASTRUCTURE AT HAND Major underused ports at Tanga, Dar es Salaam and Mtwara, in Tanzania, are available to serve all Strandline Resource’s prospective mining areas

University of Pretoria to present industry-focused diamond short course

By: David Oliveira     7th October 2016 The University of Pretoria’s (UP’s) Department of Geology will present a diamond short course from October 18 to 21, which includes a site visit to diamond miner Petra Diamonds’ Cullinan mine, in Gauteng. The short course, launched in 2011, is led by independent diamond consultant Dr John Bristow... 

Black Rock increases resource at Tanzania graphite project

By: Esmarie Swanepoel     6th October 2016 Junior Black Rock Mining has reported a 24% increase in the mineral resource at its Mahenge graphite project, in Tanzania, following infill drilling at the Ulanzi, which delivered a 39% increase to the prospect. The Ulanzi mineral resource now stood at 111.8-million tonnes, at 8.2% graphitic... 

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