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Exploration News

Core soars on NT lithium exploration hits

By: Esmarie Swanepoel     3rd October 2016 The share price of junior Core Exploration increased by 60% after the company announced the highest-grade spodumene intersections ever drilled in the Northern Territory. The 1.78% lithium oxide over 49 m results come from the Grants prospect, within the Finniss lithium project, and are only the... 

Pebble Partnership legal team agrees to cap fees at $1m

By: Henry Lazenby     1st October 2016 The legal team defending the rights of project proponent the Pebble Limited Partnership (PLP) and parent company Northern Dynasty Minerals has agreed to cap fees at $1-million, to the point where motions for summary judgment in the case have been fully argued to the court and are ripe for... 

Cash optimisation, capital access and productivity top EY’s 2016/17 business risks

By: Creamer Media Reporter      30th September 2016 Capital considerations dominate the top three business risks in the mining and metals sector, according to professional services firm EY’s latest ‘Top 10 business risks facing mining and metals 2016-2017’ report. “Much like our global counterparts, Canadian mining and metals companies are facing... 

Cash optimisation, capital access and productivity top EY’s 2016/17 business risks

Mining Indaba opens door for more emerging miners to participate

By: Mia Breytenbach     30th September 2016 The Investing in African Mining Indaba has “recreated a platform for the emerging or smaller miner to participate at a palatable price point”, says outgoing Mining Indaba MD Jonathan Moore. Mining Indaba in June announced price reductions of up to 50% for mining corporates, as many companies had... 

Mining Indaba opens door for more emerging miners to participate
Photo by Duane Daws
NEW STEERING Jonathan Moore, who has led the Mining Indaba for nine years, will be succeeded by new Mining Indaba MD Alex Grose as from October 10

Court approves Teranga takeover of Gryphon

By: Esmarie Swanepoel     29th September 2016 Takeover target Gryphon Minerals has gone into a trading halt after the Federal Court of Australia approved a takeover offer from dual-listed Teranga Gold Corporation. Teranga in June made a play for Gryphon, offering Gryphon shareholders 0.169 common shares of Teranga, or 0.169 Teranga shares... 

Breaker raises funds for exploration

By: Esmarie Swanepoel     29th September 2016 Explorer Breakaway Resources will raise A$12.4-million through a share placement to fund resource definition drilling and exploration work at the company’s Lake Roe project, in Western Australia. Breaker reported on Thursday that the company had received binding commitments from institutional and... 

Breaker raises funds for exploration

New explorer Ocean Minerals to look offshore Cook Islands for REEs

By: Henry Lazenby     29th September 2016 Recently formed US-based exploration company Ocean Minerals is heading to the exclusive economic zone of the Cook Islands, in the Southern Pacific, to look for rare earth elements (REEs) and scandium on the deep ocean floor. The Houston, Texas-based company on Wednesday joined the likes of... 

Ontario govt awards Boart Longyear C$1.37m to improve safety, reduce costs

By: Henry Lazenby     28th September 2016 Multinational drilling equipment and services provider Boart Longyear has received an award of C$1.37-million from the Ontario government to help improve safety at mineral exploration drilling sites and the efficiency of drilling systems technology. The Salt Lake City, Utah-headquartered company... 

Canada approves Pacific NorthWest LNG project, but investment decision 'far from certain'

By: Henry Lazenby     28th September 2016 The Canadian federal government has approved the C$11-billion Pacific NorthWest liquefied natural gas (LNG) project, a proposed LNG facility and marine terminal near Prince Rupert, on British Columbia's North Coast. Majority owned by Malaysia-based Petronas, the project approval is the result of... 

Canada approves Pacific NorthWest LNG project, but investment decision 'far from certain'
Photo by Pacific NorthWest LNG
A rendering of the Petronas Pacific NorthWest LNG plant, in Prince Rupert, BC

White Rock unveils ‘game-changer’ equity raising to advance NSW, Alaska projects

By: Mariaan Webb     28th September 2016 Minerals explorer White Rock is seeking to raise $5.74-million through the placement of shares and an entitlement offer to fund studies and exploration at projects in New South Wales and in Alaska. The company will raise $1.62-million in a placement of ordinary shares to investors and up to... 

In first Canadian foray, Denham enters into $65m partnership with project developer JDS Silver

By: Henry Lazenby     27th September 2016 Private equity firm Denham Capital has agreed to back private project developer JDS Silver by providing $65-million to complete construction and bring into production the Silvertip mine, in northern British Columbia. At a 30% zinc-equivalent grade, the Silvertip project has one of the... 

Mosaic’s radioactive sinkhole problem could mean mine delays

By: Bloomberg     27th September 2016 As the world’s largest producer of phosphate fertiliser, Mosaic is used to digging up parts of Florida to recover the mineral. But lately, one particular hole is causing the company some headaches. A sinkhole 14 m wide has opened up in a pile of mining waste at the company’s New Wales site, in... 

Mosaic’s radioactive sinkhole problem could mean mine delays

Gold discovery badly behind replenishment

By: Martin Creamer     27th September 2016 Gold is being discovered at a fraction of the rate needed to replenish reserves. In the last 16 years, the gold-mining industry has failed to replace more than half the ounces mined. 

Gold discovery badly behind replenishment
Photo by Randgold
Randgold graph showing discovery collapse

Iron Mountain buys into bauxite

By: Esmarie Swanepoel     27th September 2016 Junior Iron Mountain Mining has acquired a 50% interest in Au Capital Mining, which owns two prospecting licences in the Solomon Islands. Iron Mountain said on Tuesday that it had paid a nonrefundable option fee of A$100 000, granting the company a long option period and enabling it to complete... 

Iron Mountain buys into bauxite

Kinross sells 4.7% stake in Lundin

By: Henry Lazenby     27th September 2016 Gold producer Kinross Gold has agreed to sell a 4.7% stake in Lundin Mining to GMP Securities, amounting to 5.5-million common shares at C$5.60 apiece. Kinross on Monday said the deal was part of its portfolio management strategy and would generate C$30.8-million in gross proceeds. 

Yamana applies to annul second arbiter report in Auriemma proceedings

By: Henry Lazenby     27th September 2016 Yamana Gold has applied to annul a second arbiter report regarding the award to Dr Ricardo Auriemma in litigation dating back to 2003. In May 2013, the Argentinean Commercial Court of Appeals ruled in favour of Auriemma on the breach-of-agreement case against Northern Orion Resources (GNOR),... 

As need to reach foreign markets intensifies, Canadian oil industry isolated from Treaty Alliance threats

By: Henry Lazenby     26th September 2016 Global demand for energy is expected to rise some 32% by 2040 and more than a quarter of that increase will be met by oil, raising the stakes for the Canadian oil industry to diversify its markets. According to the Canadian Association of Petroleum Producers (CAPP), the lion’s share of demand... 

As need to reach foreign markets intensifies, Canadian oil industry isolated from Treaty Alliance threats

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’ 

By: Martin Creamer     26th September 2016 Africa needs investments coupled with aggressive growth and if correctly managed, will be the world’s "next China", says Randgold Resources CEO Dr Mark Bristow, who has developed half a dozen highly successful gold mines on the continent besides traversing its length and breadth on his motor... 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’
Randgold CEO Dr Mark Bristow (centre) with host country management at the Loulo gold mine

Skeena completes acquisition of Mount Rainey Silver

By: Henry Lazenby     24th September 2016 Junior explorer Skeena Resources' acquisition of Mount Rainey Silver has closed, giving it access to mineral claims covering the past-producing, underground Prosperity–Porter Idaho–Silverado silver property, in north-west British Columbia’s ‘Golden Triangle’. Mount Rainey Silver's primary asset... 

North American Aboriginals, First Nations join hands to thwart domestic oil development 

By: Henry Lazenby     23rd September 2016 Canadian and Northern US Aboriginal groups and First Nations have, this week, adopted the Treaty Alliance Against Tar Sands Expansion, seeking to officially prohibit and collectively challenge and resist oil sands industry expansion in Alberta. This extends to preventing the transport of such... 

North American Aboriginals, First Nations join hands to thwart domestic oil development

BMR secures finance to advance Kabwe

By: Megan van Wyngaardt     23rd September 2016 Zambia-focused mineral processing business, BMR Group has entered into a $5.2-million project construction and trade finance facility with African Compass International (ACI), a private South African group engaged in mining, energy and agribusiness. Through the facility, Aim-listed BMR and its... 

Barberton tailings plant lifts output ultra cheaply 

By: Martin Creamer     23rd September 2016 In the 12 months to June 30, gold was produced by the Barberton Tailings Retreatment Plant (BTRP) of Pan African Resources at the exceptionally low all-in cost of $332/oz. While Barberton Mines as a whole had a good financial year underground and on surface, it was the on-surface BTRP that shot... 

Barberton tailings plant lifts output ultra cheaply
Blurb: Pan African CEO Cobus Loots talks to Mining Weekly Online’s Martin Creamer on Barberton gold. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Tawana buys Namibia lithium project

By: Esmarie Swanepoel     23rd September 2016 Dual listed Tawana Resources has moved to acquire a second lithium project, with the company entering into an agreement to acquire the mining rights to a Uis pegmatite tailing stockpile in Namibia. The Uis project consists of some 20-million tonnes of stockpile derived from one of the largest... 

Alliance to earn a stake on Wilcherry Hill

By: Esmarie Swanepoel     23rd September 2016 Juniors Tyranna Resources and Alliance Resources have formed a strategic joint venture over the Wilcherry Hill project, in South Australia. Under the agreement, Alliance would pay A$2-million in cash for a 51% stake in the project, and would also subscribe for shares in Tyranna in order to... 

Cash costs plunge below $700/oz at AngloGold’s Mponeng mine

By: David Oliveira     23rd September 2016 South African gold mining major Anglo-Gold Ashanti reported in its six- months through June 30 earnings report, released in mid-August, that its South African flagship operation, Mponeng gold mine, near Carletonville, was one of the lowest-cost producers in South Africa during the first half of... 

Cash costs plunge below $700/oz at AngloGold’s Mponeng mine

Lack of vibrant junior sector, exploration to ensure long-term sustainability lamented

By: Ilan Solomons     23rd September 2016 South Africa needs to urgently develop a vibrant junior mining sector and establish a conducive policy environment to attract investment in new exploration projects to ensure the long-term sustainability of the country's mining sector. This is according to banking group Nedbank Capital mining and... 

Lack of vibrant junior sector, exploration to  ensure long-term sustainability lamented
Photo by Duane Daws
PAUL MILLER Mining majors are primarily focused on weathering the current challenging economic climate and depressed commodity prices

Nevada Sunrise signs definitive agreement for Gemini JV with Eureka

By: Henry Lazenby     22nd September 2016 TSX-V-listed explorer Nevada Sunrise and 50:50 joint venture (JV) partner Eureka Resources have formalised their relationship with regard to the Gemini lithium project with the signing of a definitive JV agreement. Nevada Sunrise acquired the Gemini project, located in Nevada’s Lida Valley, in... 

End-to-end mechanisation edging South Deep forward – Gold Fields

By: Martin Creamer     22nd September 2016 South Deep, Gold Fields’ fully mechanised deep-level gold mine, has reached the point of honouring its full mining value chain with on-the-go ground support, simultaneous backfilling of the voids created, an extension of mechanising to hanging wall and side wall drilling, and mesh support... 

End-to-end mechanisation edging South Deep forward – Gold Fields
Photo by Duane Daws
Gold Fields CEO Nick Holland

Oz abandons Jamaica plans

By: Esmarie Swanepoel     22nd September 2016 Metals miner Oz Minerals has withdrawn from its Jamaica joint venture (JV), transferring its interest in the exploration assets to Canada-based Carube Copper Corporation. “After a comprehensive review of exploration results, we determined that while copper porphyry style mineralisation was... 

Chalice signs another farm-in

By: Esmarie Swanepoel     22nd September 2016 ASX-listed Chalice Gold Mines has continued with its corporate activity spree, inking a farm-in agreement with fellow listed Traka Resources over the Latitude Hill nickel-copper-platinum group metals project. Under the terms of the agreement, Chalice could earn a 70% interest in the project by... 

Trevali expands high-grade Santander deposits, makes new hanging wall discovery

By: Henry Lazenby     21st September 2016 The TSX-listed stock of base metals producer Trevali Mining has risen to a new 52-week high after the company reported positive exploration results from its Santander mine, in Peru. Vancouver-based Trevali reported results from twelve new drill holes of the ongoing 2016 underground exploration... 

With a bird in hand, Northern Superior targets fall drill campaign to grow openpitable resource 

By: Henry Lazenby     21st September 2016 With a compliant six-figure inferred resource in hand, project generator Northern Superior Resources is preparing for aggressive growth campaigns this fall and winter at some of its Quebec- and Ontario-based assets. After going into hibernation mode in 2012, with the intensification of the... 

With a bird in hand, Northern Superior targets fall drill campaign to grow openpitable resource

Pan African investigating R1.7bn gold tailings project 

By: Martin Creamer     21st September 2016 Gold mining company Pan African Resources is investigating a large gold tailings retreatment project at its Evander mines in Mpumalanga. Underwritten proposals have been received for the full financing package for the Elikhulu project, which will require an estimated capital expenditure of... 

Pan African investigating R1.7bn gold tailings project
Pan African CEO Cobus Loots outlines growth plans to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer. 21.9.2016

Rare Earth Mineral lifts Bacanora stake to nearly 20%

By: Henry Lazenby     21st September 2016 Aim-listed Rare Earth Mineral (REM) has agreed to raise its stake in Aim- and TSX-V-listed lithium and borates company Bacanora Minerals to 19.8% through an ‘on-market’ transaction valued at £4.5-million. The transaction is expected to close before month-end. REM advised that it holds a 30% joint... 

Osisko hits high-grade sods at ‘company-making’ Windfall Lake

By: Henry Lazenby     21st September 2016 Explorer and project consolidator Osisko Mining has hit some high-grade returns with recent exploration work at its Quebec-based Windfall Lake gold project, reporting intersections containing as much as 391 g/t gold over 3.1 m (uncut). The Montreal-based company is currently undertaking an... 

Taseko in hot pursuit of Gibraltar’s high-grade copper core

By: Henry Lazenby     20th September 2016 The TSX-listed stock of copper producer Taseko Mines spiked up to 13.33% on Tuesday morning on news that the company has discovered a new high-grade copper deposit at its Gibraltar mine, in British Columbia. Vancouver-based Taseko has intersected more than 341.4 m of varying copper grades at its... 

Taseko in hot pursuit of Gibraltar’s high-grade copper core

South African ‘Mining Hall of Fame’ on way – Swanepoel

By: Martin Creamer     20th September 2016 A South African ‘Mining Hall of Fame’ is on the way. Revealing this at a pre-Joburg Indaba presentation on Tuesday, chairperson Bernard Swanepoel noted that South Africa was odd mining jurisdiction out in not having a mining hall of fame. 

South African ‘Mining Hall of Fame’ on way – Swanepoel
Photo by Duane Daws
Joburg Indaba chairperson Bernard Swanepoel

Premier upbeat about drilling results at Zimbabwe lithium project

By: Megan van Wyngaardt     20th September 2016 Aim-listed Premier African Minerals has received encouraging results from its 2 500 m drilling programme at the Zulu lithium project, in Zimbabwe. The first diamond core hole intersected 9.5 m of visual spodumene petalite lithium mineralisation, from a down hole depth of 10.5 m. 

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