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Agnico Eagle completes acquisition of Cayden Resources

By: Creamer Media Reporter Dual-listed Agnico Eagle Mines has completed the acquisition of exploration company Cayden Resources, which is now a wholly-owned subsidiary of Agnico Eagle. Under the arrangement, each Cayden common share was exchanged for 0.09 of an Agnico Eagle share and C$0.01 in cash. 

Monument’s business strategy working to its advantage in tough economic climate – CEO

By: Creamer Media Reporter TSX-V-listed Monument’s business strategy is working to its advantage in the challenging economic environment, said president and CEO Robert Baldock when commenting on the gold producer’s financial results for the first quarter of fiscal 2015. "Fiscal 2015 started with the continuing decline in... 

GoldStone to focus on Homase/Akrokerri project

By: Leandi Kolver Following the acquisition of a 33.45% controlling interest in Aim-listed GoldStone by exploration and development company Stratex, GoldStone’s newly constituted board has decided that the company’s exploration efforts going forward would be primarily directed at its Homase/Akrokerri project, in... 

India reports increase in monazite reserves

By: Ajoy K Das The Indian government has reported an increase in the country’s monazite reserves. According to official data, India’s monazite reserves have gone up by 1.25-million tonnes to 11.93-million tonnes, following exploration and assessments carried out by Geological Survey of India between 2009 and... 

Demand increase for geological data management systems

By: Mia Breytenbach Australia-based mining software solutions and services provider MICROMINE has registered a 20% to 30% demand increase for its flexible and secure Geobank and Geobank Mobile mining data-management solutions software, MICROMINE Africa customer services manager Craig Peek tells Mining Weekly. He... 

Demand increase for  geological data management systems
DATA COMPARISON The Sample Tracker module in the Geobank Mobile data management software solution enables users to perform full reconciliation of laboratory dispatch and received samples

Statistical method assists in exploration borehole drilling

By: Mia Breytenbach As the mining industry needs to start adopting a fresh approach to determine mineral resources and the exploration required to do so, professional services firm Venmyn Deloitte introduced the Variance Towers statistical method in 2010 to assist in early-stage exploration. “This technique is used... 

Statistical method  assists in exploration borehole drilling
DEFINITIVE APPROACH The Variance Towers technique is used to estimate the minimum number of boreholes to find the information required to declare the inferred to indicated mineral resources

Resources Watch

By: Creamer Media Reporter This week: Technology initially developed for the oil and gas industry enables the visualisation of the subsurface of an entire mining area. The Central African Republic is the new ‘blood diamond’ hub. And, technology slashes power use at Glencore's huge South African chrome smelter. 

Resources Watch

Triton completes Mozambique graphite project's scoping study

By: Esmarie Swanepoel A scoping study into ASX-listed Triton Minerals’ Nicada Hill graphite project, in Mozambique, has estimated that the project could support a production of 210 000 t/y of graphite concentrate. The scoping study was based on a 51-million-tonne indicated resource, grading 12.4% graphitic carbon,... 

Cobre looks for lithium at Pilbara tenements

By: Esmarie Swanepoel ASX-listed Cobre Montana and fellow-listed Pilbara Minerals have executed a memorandum of understanding (MoU) to test the lithium carbonate potential in Pilbara’s Pilgangoora project, in Western Australia. Under the terms of the MoU, Cobre Montana will undertake a six-months study of the... 

Kipushi drilling programme indicates high-grade resources – Ivanhoe

By: Leandi Kolver High-grade silver, zinc and copper drill intercepts have been reported in the third batch of assay results from Africa-focused project developer Ivanhoe Mines’ underground diamond-drilling programme at its Kipushi copper/zinc/germanium/lead/precious metals mine, in the Democratic Republic of... 

Centaurus hopeful at Candonga West

By: Esmarie Swanepoel A recent ground magnetic survey has proven positive for metals developer Centaurus Metals, with the company saying on Monday that it had confirmed the potential for high-grade direct shipping ore (DSO) at the recently acquired Candonga West project, in Brazil. Centaurus acquired the Candonga... 

Liontown shares tumble as it abandons Tanzania project

By: Esmarie Swanepoel The share price of junior Liontown Resource dropped by nearly 31% on Monday on news that the company had opted out of the Ibaga copper/zinc project, in Tanzania. Liontown had previously entered into two option agreements giving the company the right to acquire 100% of the Igaba project. 

Savannah raises £1.3m, terminates Bergen agreement

By: Leandi Kolver Aim-listed Savannah Resources on Friday advised that it had raised about £1.3-million through the placing of 29.48-million new ordinary shares with new and existing investors. The funds would be used for general working capital to fast-track exploration and development at the company’s copper... 

Wits lecturer aiming to establish seismic reflection laboratory

By: Chantelle Kotze The mining industry has taken heed of the need to develop and nurture a constant stream of quality graduates that can develop solutions in problem areas and has as a result contributed significantly to research at the University of the Witwatersrand’s (Wits’) School of Geosciences, says Wits... 

Darnley Bay enters into option agreement for Eastmain Quebec project

By: Leandi Kolver TSX-V-listed Darnley Bay Resources has entered into an agreement with TSX-listed Eastmain Resources, whereby Darnley Bay can acquire a 50% undivided interest in Eastmain’s Lac Lessard project, in Quebec. "We are excited about the potential of Lac Lessard's kilometric-scale ultramafic intrusive... 

Tertiary Minerals completes Phase 3 drilling at MB fluorspar project, awaiting results

By: Creamer Media Reporter Aim-listed mineral exploration and development company Tertiary Minerals has completed the Phase 3 drilling programme ahead of schedule at the MB fluorspar project, in Nevada, US. Tertiary Minerals MD Richard Clemmey said the company was pleased that the programme was completed ahead of schedule... 

Tremont takes bigger share in Cradle project

By: Esmarie Swanepoel Africa-focused Tremont Investments has acquired another 12.5% interest in ASX-listed Cradle Resources’ Panda Hill niobium project, in Tanzania. For the further payment of $5-million, Tremont had increased its stake in the project to 25%. 

Laconia faced with opposition at Peru project

By: Esmarie Swanepoel The share price of junior Laconia Resources dropped by 20% on Wednesday on news that the company was facing opposition at its Kimsa Orcoo copper-gold-silver project, in Peru. Laconia said on Wednesday that it had received notification of an appeal against a drilling approval at Kimsa Orcco. The... 

IMX completes Mt Woods sale

By: Esmarie Swanepoel Dual-listed IMX Resources on Tuesday reported that the sale of its Mt Woods tenements would likely be finalised before the end of the month, after all conditions precedent to the sale were satisfied. In September this year, IMX Resources has agreed to sell its Mt Woods tenements, in South... 

Magnis raises A$3m for Tanzania graphite project

By: Esmarie Swanepoel ASX-listed graphite hopeful Magnis Resources has raised A$3-million through a share placement to institutional and sophisticated investors, to complete a maiden Joint Ore Reserves Committee compliant resource and a prefeasibility study on its Nachu project, in Tanzania. The placement consisted... 

Doray hunts for gold on Iluka fields

By: Esmarie Swanepoel ASX-listed gold miner Doray Minerals has signed a farm-in agreement with fellow-listed mineral sands miner Iluka to explore its Central and Western Gawler Craton tenement portfolio, in South Australia. The farm-in area consists of some 21 000 km2 of exploration licences and applications, and... 

Canadian govt empowers Far North research and mining investment

By: Henry Lazenby The Canadian federal government this week announced measures to support geoscience research and mining investment in the country’s Far North. The Minister of Environment, the Canadian Northern Economic Development Agency (CanNor) and for the Arctic Council, Leona Aglukkaq, on Friday announced... 

Graphite One finds visible graphite in 22-hole drill campaign 

By: Henry Lazenby TSX-V-listed explorer Graphite One Resources this week reported that its most recent exploration campaign at its Graphite Creek project, in Alaska, had returned visible graphite in each of the 22 holes drilled. During its 2014 summer field programme, the company sank 20 diamond core drill holes... 

FIRB approves Jogmec investment in Peel

By: Esmarie Swanepoel The Foreign Investment Review Board (FIRB) has given approval for Japan Oil, Gas and Metals National Corporation (Jogmec) to invest some A$7-million into ASX-listed Peel Mining’s Cobar superbasin project. Under a memorandum of understanding (MoU) Jogmec would have the right to earn up to 50% of... 

Largo Resources receives formal operating licence for Brazil flagship

By: Henry Lazenby TSX-listed Largo Resources has received a formal operating licence for its flagship Maracas Menchen vanadium mine, in Brazil. The company said on Tuesday that it had been operating on a preliminary operating licence, which it received in May that allowed it to start the production ramp-up and to... 

Bonfire of the juniors avoided as role of alternative finance gathers pace

By: Simon Rees The number of companies that have delisted from the TSX and the TSX-V is far fewer than many commentators predicted, while the level of financing activity by mining companies on both exchanges has also increased, attendees at the mineLatinAmerica convention, in Toronto, were told. Alternative... 

AuRico Gold forms strategic partnership with Carlisle Goldfields

By: Henry Lazenby TSX- and NYSE-listed AuRico Gold on Tuesday said it had agreed to participate in a private placement of 70.6-million common shares of fellow TSX-listed firm Carlisle Goldfields and had entered into an option agreement to acquire 25% of Carlisle’s Manitoba-based gold camp. Under the terms of the... 

Samco Gold confident in setting itself apart from peers in next 12 months

By: Henry Lazenby With prospective projects located on the Deseado Massif of Santa Cruz, Argentina, a potential joint-venture (JV) partner with which to move forward on its flagship asset, and with an innovative financing agreement in place, Canadian project developer Samco Gold is on the cusp of differentiating... 

Hastings upgrades resource at WA rare earth project

By: Esmarie Swanepoel Rare earths junior Hastings Rare Metals has reported a 230% increase in the Joint Ore Reserve Committee compliant resource at its Yangibana project, in Western Australia. The project’s total resource has now increased from 45 000 t of total rare earth oxides to 103 000 t, with the total project... 

2014 proves tough for mining in Africa  

By: Bruce Montiea This year has been tough for the African mining industry, owing to ongoing challenges and threats, such as resource nationalisation, regulatory uncertainty and labour unrest, says Deloitte energy and resources leader Andrew Lane. “Regulatory uncertainty continues across the continent, which... 

2014 proves tough for  mining in Africa
ANDREW LANE Regulatory uncertainty continues across Africa, which causes nervousness among international investors

Central Africa highlighted as key region

Central Africa could become an “economic engine” for the African continent, as the region has similar potential to Western Australia’s Pilbara mining region, which currently produces about 30% of the world’s iron-ore, states ASX-listed iron-ore explorer and developer Equatorial Resources.... 

Central Africa highlighted  as key region
RESOURCE OUTLOOK Equatorial Resources' exploration activities have defined a resource of 917-million tonnes at 31.4% iron for the Mayoko-Moussondji project

Development of Africa’s first niobium project under way

By: Bruce Montiea The $8-million prefeasibility study (PFS) for the development of Africa’s first niobium mine, the $185-million Panda Hill project, in Tanzania, is expected to be complete by the first quarter of next year, says the mine’s owner and operator, niobium development company Cradle Resources. “At a... 

Development of  Africa’s first niobium project under way
OUTPUT Panda Hill could deliver niobium at $16.67/kg at a base case throughput of two-million tons a year

Divestment indicative of local industry challenges

By: Bruce Montiea Recent restructuring and divestment moves by mining majors Anglo American Platinum (Amplats), BHP Billiton and Gold Fields are indicative of the difficulties that mining companies operating in South Africa are facing, says strategy and communications consultancy africapractice consultant... 

Divestment indicative of local industry  challenges
SINETHEMBA ZONKE Mining companies are trying to shield their foreign investors from volatility in South Africa

Mali mine set for production after $650m merger

ASX-listed gold developer Papillon Resources expects to complete its definitive feasibility study and start mine construction on the Fekola gold project, in Mali, this quarter, the company reported at the Paydirt 2014 Africa Down Under conference, which took place from September 2 to 4 in Perth,... 

Mali mine set for production after $650m merger
DUE TO START Work at the Fekola project is planned to begin towards the end of this year

Mining supercycle highlighted at trade expo

By: Dylan Slater Mining companies need to adopt an increasingly sustained and strategic approach, using end-to-end processes and systems to enhance the productivity and profitability of their ore deposits, says France-based software company Dassault Systèmes. 

Mining supercycle  highlighted at  trade expo
FRANCOIS DU TOIT Employing technology early in the mining process is a key component to mitigating business risks

Ownership transfer in line with Gabon’s plan to promote mining sector

In line with its Strategic Plan for an Emerging Gabon (SPEG), the Gabon government in September transferred its 28.45% stake in French mining company Eramet’s Gabon-based subsidiary, Compagnie Minière de l’Ogooué Comilog Société Equatoriale des Mines (Comilog) to the Gabon State-owned mining... 

Ownership transfer in  line with Gabon’s plan to  promote mining sector
MOANDA METALLURGICAL COMPLEX Compagnie Minière de l’Ogooué Comilog Société Equatoriale des Mines started operations at the Moanda Metallurgical Complex in August 2013

Oz company to establish new gold mine in Africa

By: Bruce Montiea Australia-based gold explorer and developer Gryphon Minerals plans to start constructing a new gold mine, in Burkina Faso, in the first quarter of next year. Gryphon Minerals COO Steve Zaninovich says the company is on the cusp of obtaining project finance from Macquarie Bank that will enable the... 

Oz company to establish new gold mine in Africa
Photo by Bloomberg
NEW GOLD Maiden production at the Banfora gold mine is expected to be about 80 000 oz of gold for the first four years

Potential increase in African exploration projects

By: David Oliveira Mining software solutions and services company MICROMINE Africa aims to generate business for its geological data management solution, Geobank, and its exploration and mine design solution, Micromine, amid a significant increase in potential exploration leads in Africa over the past three months,... 

Potential increase in African exploration  projects
EXPLORATION ON THE UP Exploration is starting to increase, particularly in Africa, with nine exploration projects under way in Ethiopia, for example

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