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Exploration News

Streaming firms reward shareholders with rising dividends on strong Q1 earnings

By: Henry Lazenby     11th May 2018 Shareholders of some of the most prominent Canadian precious metals streaming firms have been rewarded with rising dividends on the back of strong first-quarter earnings results. Precious metals streaming deal pioneer and the largest player in this specialist sector, Wheaton Precious Metals... 

Pre-construction work gets under way at Nevada Copper’s promising Pumpkin Hollow

By: Henry Lazenby     11th May 2018 The proponent of what will probably be North America’s next new copper mine development, Nevada Copper, has signed a pre-works agreement with Cementation USA and secured key long-lead time items, further derisking the restart of construction of the company's fully permitted and shovel-ready... 

Pre-construction work gets under way at Nevada Copper’s promising Pumpkin Hollow
Photo by Nevada Copper
Nevada Copper's Pumkin Hollow underground shaft

SA company wins social services bid for Malawi graphite mine

11th May 2018 South Africa-based integrated infrastructure delivery company AECOM has produced the winning bid for social services for mining company Sovereign Metals’ Malingunde graphite project in the Lilongwe district, in Malawi. The Malingunde graphite project is prospective for saprolite-hosted flake... 

SA company wins social services bid for Malawi graphite mine
GRAPHITE MINE The Malingunde graphite mine, in Malawi has a maiden mineral resource estimate of 65.1-milllion tonnes at 7.1% total graphitic carbon

Company moves to introduce new haulers for mining industry

11th May 2018 Engineering support services company Babcock is preparing to introduce a new line-up of rigid haulers into the mining, opencast and quarrying sector in Southern Africa. The new line-up follows vehicle manufacturer Volvo Construction Equipment’s (Volvo CE’s) announcement earlier this year that it... 

Company moves to introduce new haulers for mining industry
Photo by Bloomberg
OPENCAST USES The trucks made by Volvo and supplied by Babcock are used in the opencast mining industry across South Africa

Machine purchase increases fleet, strengthens partnership

11th May 2018 Last month equipment supplier Epiroc delivered three FlexiROC D65 surface drill rigs to Northern Cape-based drilling specialists Booysen Bore. The delivery has increased Booysen Bore’s total drilling machine fleet to 51, while the addition of the new machines has strengthened the relationship... 

Machine purchase increases fleet, strengthens partnership
STRONG RELATIONSHIP Epiroc has been supplying surface drill machines to Booysen Bore for several years

Local market welcomes launch of SRK Exploration Services

By: Nadine James     11th May 2018 The local and sub-Saharan African market has responded “very positively” to the establishment of SRK Exploration Services, a discipline-led division of SRK Global, says SRK Exploration Services Southern African exploration manager Oliver Bayley. He explains that the Cardiff-based division... 

Local market welcomes launch  of SRK Exploration Services
HENNIE THEART AND OLIVER BAYLEY The growing ranks of midtier and junior mining companies who lack in-house technical ability has created an untapped market for SRK

To succeed as a ‘sunrise industry’, SA mining must widen ownership, meet other challenges

11th May 2018 The following has been adapted from a chapter Towards Mining Vision 2030, by Joel Netshitenzhe, ANC NEC member and executive director of the Mapungubwe Institute for Strategic Reflection (Mistra) in a book on The Political Economy of Mining in South Africa, to be published in 2018 by Mistra. 

To succeed as a ‘sunrise industry’, SA mining must widen ownership, meet other challenges

Rio/Raiden JV starts its engine

By: Esmarie Swanepoel     10th May 2018 Mining major Rio Tinto and junior Raiden Resources will officially start exploration work in Serbia, after Rio completed its due diligence investigations. Rio and Raiden in March this year inked a $31.5-million earn-in and joint venture (JV) agreement over Raiden’s project holding in Serbia. 

Rio/Raiden JV starts its engine

Agarwal encouraging Anglo to accentuate South Africa link

By: Martin Creamer     9th May 2018 Indian mining billionaire Anil Agarwal is encouraging Anglo American – in which he now holds more than 21% – to accentuate its link with South Africa, where the Vedanta Resources company he founded and chairs is successfully turning to highly positive account the zinc assets that Anglo walked... 

Agarwal encouraging Anglo to accentuate South Africa link
Photo by Dylan Slater
Anil Agarwal (right) and Martin Creamer

Fura unearths exceptional 25.97 ct rough emerald in Colombia

By: Henry Lazenby     8th May 2018 Dubai-based precious gem producer Fura Gems has recovered a 25.97 ct rough emerald at its Coscuez Colombian emerald mine. Fura said in a statement on Tuesday that it believes the emerald to be rare and exceptional owing to its size, colour saturation and clarity.  

Nevsun cites inadequate value, problematic structure in rejecting proposal

By: Henry Lazenby     8th May 2018 Base metals miner Nevsun Resources has publicly broken its silence on the announced C$1.5-billion takeover proposal led by Euro Sun Mining and supported by Lundin Mining. The miner issued a statement on Tuesday, saying the board unanimously rejected four consecutive proposals – three by Lundin... 

Newcrest signs up for Northern Territory exploration

By: Esmarie Swanepoel     8th May 2018 Gold miner Newcrest Mining has signed a non-binding heads of agreement (HoA) with fellow-listed ABM Resources over its Euro project, in the Northern Territory. The two companies will now negotiate a binding farm-in and joint venture agreement, under which Newcrest could earn a 75% interest in... 

Seabridge closes C$19.7m KSM flow-through financing

By: Henry Lazenby     8th May 2018 TSX- and NSYE-listed project developer Seabridge Gold has closed a C$19.7-million private placement of flow-through shares for exploration this year at its KSM gold/copper project, located 65 km northwest of Stewart, British Columbia. The company has issued 1.15-million flow-through shares,... 

Nevsun snubs C$1.5bn Lundin Mining, Euro Sun proposal 4 times

By: Henry Lazenby     8th May 2018 Canadian base metals producer Nevsun Resources remained mum on Monday regarding a C$1.5-billion unsolicited proposal disclosed by suitors Lundin Mining and Euro Sun Mining. Toronto-based Lundin said it had been unable to successfully engage Nevsun in “meaningful discussions” after several attempts. 

Nevsun snubs C$1.5bn Lundin Mining, Euro Sun proposal 4 times
Photo by Nevsun Resources
Nevsun's Bisha mine, in Eritrea

Wealth Minerals switching gears from project accumulation to exploration

By: Henry Lazenby     8th May 2018 The largest holder of Chilean lithium brine assets Wealth Minerals expects to have a drill turning in the ground at its Trinity project before month-end, the company announced on Monday. The Vancouver-based company said transient electromagnetic surveys have identified highly conductive zones,... 

NT govt launches collaborative funding for exploration

By: Esmarie Swanepoel     7th May 2018 The Northern Territory has opened up applications for its first grants programme under its A$26-million Resourcing the Territory initiative. Minister for Primary Industry and Resources Ken Vowles said the Geophysics and Drilling Collaborations programme will provide collaborative funding for the... 

Beowulf provides Aitolampi drilling update

By: Creamer Media Reporter      4th May 2018 Exploration and development company Beowulf Mining said on Friday that its latest drilling programme at the Aitolampi graphite project, in Finland, had confirmed the continuity of mineralisation between the holes drilled in 2017. CEO Kurt Budge reported that this year's drilling showed that... 

Pacific Bauxite raises funds for exploration

By: Esmarie Swanepoel     4th May 2018 ASX-listed Pacific Bauxite will raise up to A$3.5-million to fund the acceleration of bauxite exploration at its Nendo and South West New Georgia projects, in the Solomon Islands. The company said on Friday that A$2.5-million would be raised through an oversubscribed share placement, with... 

Expansion at Zim’s Blanket gold mine to increase production by 45% to 80 000 oz/y in next three years

By: Mia Breytenbach     4th May 2018 Mining, exploration and development company Caledonia Mining believes that its Blanket gold mine in Zimbabwe will achieve continued record production in future, owing to the company’s drive for expansion, says Caledonia Mining corporate development and investor relations VP Maurice Mason. The... 

Expansion at Zim’s Blanket gold mine to increase production  by 45% to 80 000 oz/y in next three years
WINDOW OF OPPORTUNITY Caledonia Mining’s plan to extend the depth of the Central shaft by 250 m to 1 330 m will create an additional two levels, which will increase mining flexibility

3M showcases products that can be used in the fight against TB

By: Nadine James     4th May 2018 Mining solutions manufacturer 3M’s Live Life Breathe campaign intensified last month, when the company presented its message of tuberculosis (TB) eradication to the Women in Mining South Africa (WIMSA) organisation –  an organisation which 3M believes represents “South Africa’s industrial heart.”... 

NexGen gains on two new discoveries, exploration progress

By: Henry Lazenby     3rd May 2018 Vancouver-based uranium explorer NexGen Energy has reported the scintillometer results for 54 winter drill holes comprising 30 208 m from its flagship Rook I project, in Northern Saskatchewan’s Athabasca Basin, reporting positive results on targets tested and outlining two new discoveries.... 

Qld opens coal exploration acreage

By: Esmarie Swanepoel     3rd May 2018 The Queensland state government has opened up more than 540 km2 of acreage in the Bowen, Surat and Galilee basis for coal exploration tender. “This exploration tender is about opportunity for the next wave of investment in a sector that sustains one in eight Queensland jobs and provides billions... 

Newcrest and Encounter sign JV pact

By: Esmarie Swanepoel     3rd May 2018 Gold miner Newcrest Mining and fellow-listed Encounter Resources have entered into five separate joint venture (JV) agreements in the Tanami and West Arunta regions of Western Australia, covering some 4 400 km2. The five JVs, which include Selby, Watts, Lewis, Phillipson and Aileron, will... 

Celsius raises cash for Namibia cobalt studies

By: Esmarie Swanepoel     3rd May 2018 ASX-listed Celsius Resources will raise A$9-million to accelerate feasibility studies at its Opuwo cobalt project, in Namibia. The company on Thursday said that it has completed a bookbuild for the issue of 48.6-million shares, at an issue price of 18.5c each, to institutional and professional... 

Comparatively high exploration spending belies sagging discovery rate – S&P Global

By: Henry Lazenby     3rd May 2018 Despite exploration budgets remaining at comparatively high levels in the past decades, geologists have only been able to find a fraction of the gold ounces they discovered in the preceding 18-year period, a new analysis conducted by S&P Global Market Intelligence shows. The financial information... 

Comparatively high exploration spending belies sagging discovery rate – S&P Global

Alamos earnings rise as Island Gold outperforms

By: Henry Lazenby     2nd May 2018 Miner Alamos Gold has swung back into the black for the first quarter, mainly as a result of a better-than-expected performance from the recently acquired Island Gold mine, in Ontario. For the three months ended March 31, the Toronto-based company produced 129 000 oz of gold, as Island Gold put... 

Sibanye-Stillwater wins M&A Advisor award for acquisition of Stillwater

By: Simone Liedtke     2nd May 2018 JSE-listed Sibanye-Stillwater has received an award for Transaction of the Year for its 2017 acquisition of Stillwater Mining Company at the recent M&A Advisor second annual Europe, Middle East and Africa (EMEA) Corporate Growth Awards. The M&A Advisor awards gala, held in partnership with S&P’s... 

Beowulf awards resource estimate, ESIA roadmap contracts

By: Marleny Arnoldi     2nd May 2018 Aim-listed exploration and development company Beowulf Mining has awarded a mineral resource estimate (MRE) contract for the Aitolampi graphite project, in Finland, to mining consultancy CSA Global. 

Alba Minerals raises £800 000, exploration progressing well

By: Marleny Arnoldi     2nd May 2018 Resource company Alba Minerals has raised £800 000 through the issue of about 266-million shares at 0.3p a share on the Aim.  

Botswana Diamonds, Vast to collaborate on Zim diamond mining

By: Marleny Arnoldi     2nd May 2018 Aim-listed Botswana Diamonds has signed a memorandum of understanding with Vast Resources for the exchange of information derived from past exploration on areas prospective for diamonds in Zimbabwe.  

Botswana Diamonds, Vast to collaborate on Zim diamond mining
Botswana Diamonds chairperson John Teeling

Evolution buys Orion's Queensland exploration project

By: Esmarie Swanepoel     2nd May 2018 Gold miner Evolution Mining has entered into an agreement with ASX-listed Orion Minerals to acquire its Connors Arc exploration project, in Queensland. Under the terms of the agreement, Evolution would pay an up-front cash payment of A$1.5-million, followed by two payments of A$500 000 each on... 

Kirkland Lake looks towards Australian Union Reefs revival; visible gold near Fosterville

By: Henry Lazenby     1st May 2018 Triple-listed Canadian miner Kirkland Lake Gold has reported strong drill results from the Union Reefs project, located in Australia’s Northern Territory, the company announced on Monday. Four holes for 4 287 m were drilled from surface to test the potential of the Prospect, Crosscourse and the... 

Kirkland Lake looks towards Australian Union Reefs revival; visible gold near Fosterville

Sandfire takes stake in Adriatic Metals

By: Esmarie Swanepoel     1st May 2018 Copper miner Sandfire Resources has taken a 7.7% interest in fellow-listed Adriatic Metals, subscribing for A$2-million in shares. Adriatic recently completed an initial public offering, raising A$10-million in the process. 

Stonewall adds to South African resources

By: Esmarie Swanepoel     1st May 2018 South Africa-focused gold developer Stonewall Resources has reported a 39% increase in its mineral resource, driven by a 146% increase in the Glynns-Lydenburg resource and the inclusion of the Vaalhoek mineral resource. Stonewall’s group mineral resource now measured at 5.15-million ounces,... 

Northwest Territories gets shortest end of straw as mining boosts Nunavut, Yukon economies

By: Henry Lazenby     1st May 2018 A lack of new mining projects in the development pipeline of Canada’s Northwest Territories (NT) is threatening to derail the region’s economic growth outlook, the latest ‘Territorial Outlook’ by The Conference Board of Canada (CBoC) has found. The independent Ottawa-headquartered think tank... 

Tulkubash feasibility study supports Chaarat gold project, significant exploration planned

By: Schalk Burger     30th April 2018 A feasibility study on Aim-listed Chaarat Gold’s Tulkubash oxide gold project, in Kyrgyz Republic, Central Asia, indicated a 3.75 year mine life, with 16-million tonnes of reserves at an average grade of 0.91 g/t gold. However, ongoing exploration will be carried out in parallel with the project... 

Yanfolila ramp-up sees 9 912 oz of gold poured in March

By: Schalk Burger     30th April 2018 Aim-listed West African gold producer Hummingbird Resources has successfully ramped up gold production at its opencast Yanfolila mine and plant, in Mali, with 9 912 oz poured in March. The Yanfolila project produced 18 785 oz of gold in the quarter ended March 31, with the mine and plant... 

Alligator River gets exploration funding – Vimy

By: Esmarie Swanepoel     30th April 2018 Uranium explorer Vimy Resources is planning to raise A$6-million to fast-track exploration at its Alligator River project, in the Northern Territory. The company will issue 55-million fully paid ordinary shares at a price of 11c each to new and existing institutional and sophisticated investors,... 

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