R/€ = 15.97 Change: -0.12
R/$ = 13.34 Change: -0.06
Au 1306.16 $/oz Change: -0.59
Pt 947.50 $/oz Change: -11.50

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Fuel cell buses expected to spur platinum demand – Implats

By: Martin Creamer     Updated 2 hours 50 minutes ago Buses powered by platinum-catalysed fuel cells are attracting the attention of South Africans, who will visit Germany next month to update themselves on passenger carriers that emit zero pollution into the atmosphere. “There’s a lot of interest in fuel cell buses simply because the refuelling... 

Fuel cell buses expected to spur platinum demand – Implats
Photo by Duane Daws
Impala Platinum (Implats) group executive marketing Paul Finney

Sibanye-Stillwater announces $450m convertible bond offering

By: Martin Creamer     Updated 6 hours ago Precious metals mining company Sibanye-Stillwater on Tuesday announced the impending launch of a $450-million convertible bond offering linked to the refinancing of the outstanding portion of the bridge loan the company raised to buy Stillwater Mining in the US. The senior unsecured guaranteed... 

Sibanye-Stillwater announces $450m convertible bond offering
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman

Petra’s Finsch, Kimberley Ekapa Mining JV impacted by labour disruption

By: Creamer Media Reporter      19th September 2017 Aim-listed Petra Diamonds’ Finsch and Kimberley Ekapa Mining joint venture operations are being affected by a labour disruption that started on Monday evening. Underground and surface mining operations are affected, but plant treatment is continuing at near normal capacity, treating surface... 

Petra’s Finsch, Kimberley Ekapa Mining JV impacted by labour disruption

Gem recovers 115 ct diamond at Letšeng

     19th September 2017 LSE-listed Gem Diamonds has recovered a high-quality 115 ct, D colour Type IIa diamond from its Letšeng mine, in Lesotho.   This follows the recovery of five other diamonds of over 100 ct so far this year from the mine. 

BlueRock’s Kareevlei nearing 25 000 t/m production target

By: Creamer Media Reporter      Updated 7 hours ago Production at Aim-listed BlueRock Diamonds’ Kareevlei mine, in the Northern Cape, is now in excess of 20 000 t/m and is nearing the targeted 25 000 t/m. Reporting on its results for the six months to June 30, BlueRock on Tuesday noted that the average grade at the mine also continues to increase... 

Miner Goldplat seeks to tame Africa risk

By: Reuters     Updated 7 hours ago Upheaval in Tanzania, where the government has made huge tax demands and seized minerals, has triggered changes in neighbouring Kenya, which should reassure the industry, said the CEO of Goldplat, which operates a gold mine there. Chief Executive Gerard Kisbey-Green said he was nevertheless... 

First Cobalt exits volatile DRC in favour of mining friendly Ontario Cobalt Camp

By: Henry Lazenby     19th September 2017 TSX-V-listed First Cobalt will not complete a strategic alliance over seven cobalt exploration properties close to several major copper/cobalt operations in the Democratic Republic of Congo's (DRC's) Central African Copperbelt. The Toronto-headquartered company announced on Monday that it would... 

Congo's Gecamines to set new rules on mining proceeds

By: Reuters     19th September 2017 Congo's Gecamines will implement new controls to "hold its partners accountable" in copper and cobalt projects, the state miner said on Tuesday. Gecamines' partners on mining projects include Glencore, China Molybdenum and Ivanhoe. The company said it will initiate discussions with its partners... 

Peak hopes for A$5.5m to advance Ngualla

By: Esmarie Swanepoel     19th September 2017 Rare earths developer Peak Resources was hoping to raise as much as A$5.5-million in a share placement and entitlement issue aimed at progressing work at its Ngualla project, in Tanzania. The company on Tuesday announced that it will raise some A$2.8-million through a share placement to... 

Development of Rainbow Rare Earths’ Burundi project advancing on schedule

By: Creamer Media Reporter      Updated 3 hours ago LSE-listed Rainbow Rare Earths has started mining ore from the Gasagwe pit at its Gakara rare earth project, in Burundi. CEO Martin Eales on Tuesday said the company was firmly on track to deliver its first shipment of concentrate from the mine in the fourth quarter of this year. 

Syrah aiming to raise A$110m for Mozambique project

By: Esmarie Swanepoel     19th September 2017 Graphite developer Syrah Resources is hoping to raise A$110-million through a share placement and pro-rata accelerated nonrenounceable entitlement offer to fund the development of its Balama project, in Mozambique, and to provide working capital. The company said on Tuesday that some 7.4-million... 

Syrah aiming to raise A$110m for Mozambique project

Two more firms fire KPMG as corporate South Africa weighs links with auditor

By: Reuters     Updated 2 hours 36 minutes ago A South African broker and an energy investment firm fired KPMG on Tuesday, two of a host of local firms weighing whether to ditch the auditor to distance themselves from a scandal involving business friends of President Jacob Zuma. Sasfin and Hulisani, both relatively small financial companies... 

Rally in zinc price raises spectre of substitution

By: Reuters     Updated 7 hours ago A sharp rally in zinc prices is posing the threat that industrial users will find ways to substitute the metal with cheaper alternatives or use less, curbing overall consumption. High prices may also dampen a nascent move by Chinese automakers to use more zinc for galvanising, while the Western... 

BHP pressed to quit Australian mining lobby over climate views

By: Reuters     Updated 4 hours ago BHP on Tuesday urged shareholders to vote down a resolution aimed at getting the mining giant to quit Australia's top mining lobby group, but said it will separately review its membership of industry bodies. BHP agreed to let shareholders vote on the resolution submitted by an ethical investing... 

Coal miner New Hope swings to full-year profit

By: Esmarie Swanepoel     19th September 2017 Coal miner New Hope Corporation has swung back into black during the 2017 financial year, with the miner reporting a 362% increase in net profit after tax. During the 12 months to July, net profit increased to A$140.6-million, compared with a net loss of A$53.6-million in 2016. 

Doray finds new gold at Gnaweeda

By: Esmarie Swanepoel     19th September 2017 Western Australian gold miner Doray Minerals has announced a new gold discovery at the St Anne’s prospect, at its Gnaweeda project. The ASX-listed company noted that first pass reverse circulation drilling over the St Annes prospect had returned strong gold mineralisation, with 20 m at 2.4 g/t... 

Artemis raises A$12m

By: Esmarie Swanepoel     19th September 2017 Junior Artemis Resources will raise A$12-million through the issue of some 60-million shares, at a price of 20c each, to fund its share of gold exploration in Western Australia. “These funds will allow Artemis to play a key role in working closely Novo [Resources] on the 50/50 joint venture (JV)... 

Australian Bauxite completes shipments

By: Esmarie Swanepoel     19th September 2017 ASX-listed bauxite producer Australian Bauxite has delivered 30 000 t of bauxite ahead of schedule, from its Bald Hill mine, in Tasmania. The customer will pay 90% of the invoice value immediately, with the balance due on proof of weight. 

Gulf secures ore supply for Kupang smelter

By: Esmarie Swanepoel     19th September 2017 ASX-listed Gulf Manganese has inked two ore supply agreements with manganese mining companies in Timor, to secure feedstock to start operations at the Kupang smelting facility, in Indonesia. A further supply agreement was expected shortly, Gulf said on Tuesday, along the Kupang start-up to take... 

Odisha to clamp down on illegal coal, nonferrous mineral extraction

By: Ajoy K Das     19th September 2017 Close on the heels of imposing penalties on iron-ore and manganese miners, the government of the eastern Indian province of Odisha is readying for a clampdown on coal and other nonferrous mineral miners for production beyond approved mining plans. The Odisha government is preparing notices to be... 

Pennsylvania permitting delay prompts Consol to change Bailey mine plan

By: Henry Lazenby     19th September 2017 A delay by the Pennsylvania Department of Environmental Protection (DEP) in evaluating the approval of the Bailey mine permit for the 4L panel has pressed Consol Energy to move the longwall to another panel to resume operations. The company expects the longwall move to last about four weeks and... 

Teck ups Red Dog guidance; outlines significant exploration target for Aktigiruq

By: Henry Lazenby     19th September 2017 Canada’s largest diversified miner Teck Resources has added about 50 000 t of zinc output to the full-year guidance for its Red Dog mine, in Alaska. Vancouver-headquartered Teck advised that improving recoveries in the last few months has prompted the company to lift guidance to a range of 525... 

Brazil mining reform is raising costs for industry – Vale exec

By: Reuters     19th September 2017 Mining reforms in Brazil are raising the cost of operating without generating increased interest in investing in the sector, an executive for world's largest iron-ore producer Vale said on Monday. Brazil President Michel Temer issued decrees in July to boost mining royalties, create a new... 

Brazil's Vale to meet debt target before implementing new growth plans – exec

By: Reuters     19th September 2017 The new growth strategy being evaluated by Brazil's Vale would only be implemented once the company meets its debt reduction targets, an executive director for the world's largest iron ore producer said on Monday. The company is also interested in investing in the electricity sector itself or... 

MAC adds two new factors to TSM initiative to combat child labour

By: Henry Lazenby     19th September 2017 The Mining Association of Canada (MAC) has added two new components to its Towards Sustainable Mining (TSM) initiative to help curb child and forced labour in the mining supply chain, and to provide the information needed for companies to demonstrate their responsible sourcing of minerals and... 

Mountain Province reports lowest prices yet for Gahcho Kué diamonds

By: Henry Lazenby     19th September 2017 The seventh sale of diamonds produced from Mountain Province Diamonds’ 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, saw the average price of rough stones fall to the lowest level since sales started in January. The September tender included an unusually large proportion of small... 

Deterrence, prevention critical for miners in fight against fraud

By: Henry Lazenby     18th September 2017 Fraud is a significant burden on the mining industry and is likely to cost companies an average of 5.85% of turnover every year. Therefore, catching it before it happens is often the best weapon to combat this scourge. This figure is based on 20 years of data across more than 40 sectors,... 

Deterrence, prevention critical for miners in fight against fraud

Kinross to proceed with Tasiast Phase 2, Round Mountain expansion projects

By: Henry Lazenby     18th September 2017 Senior Canadian miner Kinross Gold has revealed that it will spend about a $1-billion on two significant capital growth plans for the Phase 2 expansion of its Tasiast mine, in Mauritania, as well as the Phase W of the Round Mountain mine, in Nevada. “With Phase 2, Tasiast's annual production is... 

Kinross to proceed with Tasiast Phase 2, Round Mountain expansion projects
Photo by Kinross Gold
Kinross Gold's Tasiast mine, Mauritania

Eastplats’ report confirms Barplats reserves, economics

By: Natasha Odendaal     18th September 2017 Eastern Platinum’s (Eastplats’) independent technical report (ITR), chrome mineral reserve estimate and economic assessment on its Barplats Zandfontein UG2 tailings storage facility (TSF), located at Crocodile river mine, has been completed, the dual-listed miner said on Monday. The ITR,... 

2 500 jobs at risk at lossmaking Impala Rustenburg

By: Martin Creamer     18th September 2017 South Africa’s second-largest platinum mining company has initiated a process that may lead to 2 500 staff reductions at its lossmaking Impala Rustenburg operation, where financial sustainability has deteriorated significantly in recent years.  The Johannesburg Stock Exchange-listed Impala... 

2 500 jobs at risk at lossmaking Impala Rustenburg
Photo by Duane Daws
Implats CEO Nico Muller

London's black cabs going electric spurs aluminium restart

By: Bloomberg     18th September 2017 London’s black cabs going electric shows the new wave of automobile technology is already reshaping the metals industry. After being closed for three years due to a weak market, Sapa SA’s aluminium plant in south Wales will reopen this week to supply lightweight parts for automakers such as... 

Ukraine's DTEK says power output, import contracts at risk if tariff not raised

By: Reuters     18th September 2017 The head of Ukraine's largest private power and coal producer, DTEK, said the company may have to halt production at one of its power plants or suspend import contracts if the government does not raise tariffs to account for expensive anthracite imports. Pro-Russian separatists seized control of... 

Botswana seeks option to buy unusually big diamonds from its mines

By: Reuters     18th September 2017 Botswana is amending its law to give the government the first option to buy diamonds that are unusually large or have other unusual features found in its mines, such as the world's second-biggest 1 109 ct diamond discovered two years ago. The cornerstone of Botswana's success has been one... 

Goldplat sees growth opportunities at Ghana recovery business, Kenya mine

By: Creamer Media Reporter      18th September 2017 Aim-listed Goldplat expects growth in its recovery business to come from its Gold Recovery Ghana (GRG) subsidiary in the 2018 financial year. Goldplat, which on Monday released its results for the financial year ended June 30, noted the difficulty in procuring sufficient appropriate quality... 

Davies approves operator for Musina-Makhado SEZ

By: Creamer Media Reporter      18th September 2017 The Department of Trade and Industry has issued a special economic zone (SEZ) operator’s permit for the Musina-Makhado SEZ to South African Energy Metallurgical Base, a subsidiary of Chinese conglomerate Shenzhen Hoi Mor Resources. The permit, approved by Trade and Industry Minister Dr Rob Davies... 

Guinea bauxite miner SMB resumes operations after riots

By: Reuters     18th September 2017 Guinea bauxite mining company Societe Miniere de Boke (SMB) resumed operations Monday after riots interrupted deliveries at its three sites on Friday, General Manager Frederic Bouzigues told Reuters. SMB, owned by China's Winning Shipping and Shandong Weiqiao, along with UMS International and the... 

Kibo moves closer to concluding PPA, securing project financing for MCPP

By: Creamer Media Reporter      18th September 2017 Dual-listed Kibo Mining says it is near concluding a power purchase agreement (PPA), as well as securing project financing for its Mbeya coal-to-power project (MCPP) in Tanzania. A memorandum of understanding (MoU), as a precursor to a final PPA with Tanzania power utility Tanesco, has passed all... 

Orion seeks to develop new, modern copper mine over historical success

By: Natasha Odendaal     18th September 2017 With a secondary listing on the JSE now firmly under its belt, Australian base metals firm Orion Minerals is looking to reignite the development of a South African mining asset it believes was abandoned well before its prime – the Prieska zinc/copper project, in the Northern Cape. However, for... 

Orion seeks to develop new, modern copper mine over historical success
Photo by Duane Daws
Orion CEO Errol Smart

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