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DiamondCorp raises £5m in oversubscribed offer

By: Natasha Odendaal Dual-listed DiamondCorp on Monday said its oversubscribed open offer had raised £5.27-million. The Southern Africa-focused diamond development, exploration and mining company last month issued an open offer for nearly 21-million new ordinary shares to eligible shareholders at 10p apiece. 

DiamondCorp raises £5m in oversubscribed offer

Caledonia’s Blanket mine on track to meet 2015 guidance

By: Natasha Odendaal Gold production at the Blanket mine, in Zimbabwe, increased by 4.7% quarter-on-quarter to 10 424 oz in the second quarter of 2015, 49% owner Caledonia Mining said on Monday. This was, however, a 7.1% contraction on the 11 223 oz of gold produced in the three months to June 2014. 

Sierra Rutile lifts Q2 output, reduces costs

By: Creamer Media Reporter Mineral sands miner Sierra Rutile achieved a strong second-quarter performance, lifting its rutile output by 28% quarter-on-quarter and reducing its direct operating cash costs by 16% quarter-on-quarter. The Aim-listed miner produced 29 933 t of rutile in the three months to June 30, compared... 

Zuma, Mandela probed by Hawks over Aurora

By: News24Wire The nephew of President Jacob Zuma and grandson of former President Nelson Mandela are being investigated by the Hawks in connection with alleged criminal activities stemming from the Aurora case. "The Aurora issue is now in the hands of the Hawks. We are looking at the criminal element of the... 

African Energy to sell Botswana coal and power project to SA developer

By: Esmarie Swanepoel ASX-listed African Energy has signed a term sheet with a South African project developer to divest of its Mmamantswe coal and power project, in Botswana. Subject to certain conditions precedent, African Energy would sell the Mmamantswe project for an initial sum of $10-million to the developer,... 

NUM opposes the sale of Kimberley Mines

By: African News Agency The National Union of Mineworkers (NUM) was totally opposed to the sale of the Kimberley Mines by De Beers Consolidated Mines (DBCM) in Kimberley, the union said on Monday. Acting NUM spokesperson Livhuwani Mammburu said De Beers announced in September last year that it was always looking into... 

Glencore rubbishes NUM statements over job cuts

By: Megan van Wyngaardt Multinational mining company Glencore on Monday rejected the National Union of Mineworker’s (NUM’s) allegations that the company had failed to comply with its social and labour plan regarding severance packages, as baseless, saying it was up to the Department of Mineral Resources (DMR) to... 

NUM rejects gold wage offer – source

By: Reuters South Africa's National Union of Mineworkers (NUM) has rejected a wage offer from gold producers and is still pressing for pay hikes of up to around 80%, a union source said on Monday. Bullion producers including AngloGold Ashanti, Harmony Gold and Sibanye Gold offered increases last week of up... 

Gryphon ‘significantly’ enhances Burkina Faso project economics

By: Esmarie Swanepoel An updated scoping study into the Banfora gold project, in Burkina Faso, has significantly increased the project’s economics, owner Gryphon Minerals reported on Monday. The optimised study has increased the project’s after-tax net present value from a 2014 estimate of A$90-million to... 

White Rivers clinches deal with gas developer Windfall

By: Megan van Wyngaardt South Africa-focused mineral explorer and developer White Rivers Exploration (WRE) has signed a memorandum of understanding (MoU) with Windfall Energy to facilitate the joint exploration and development of WRE’s Heilbron and Kroonstad gas assets in the Witwatersrand basin. Under the Terms of the... 

White Rivers clinches deal with gas developer Windfall

RBPlat suspends BRPM South shaft ops following fatality

By: Creamer Media Reporter A winch operator at JSE-listed Royal Bafokeng Holdings’ Bafokeng Rasimone Platinum Mine (BRPM) South shaft has died after being struck by a scraper rope during scraping operations. All normal underground operations at the shaft were suspended pending an investigation into the incident. 

Oil, steel, base metals fall on Greek 'no' vote, China market turmoil

By: Reuters Most commodity prices suffered falls on Monday, compounding worries about oversupply, after Greece rejected terms for a bailout and top consumer China unleashed emergency measures over the weekend to prevent a full-blown stock market crash. Brent crude fell below $60 per barrel on Monday, to... 

Glencore confirms production halt at NSW underground coal mine

By: Esmarie Swanepoel Diversified miner Glencore has confirmed that production at its West Wallsend underground coal mine, in New South Wales, has been halted, owing to longwall issues. Glencore in May announced that mining at West Wallsend would be completed next year, consistent with the life-of-mine planning. The... 

Glencore confirms production halt at NSW underground coal mine

India announces coal supply auction methodology, faces user opposition

By: Ajoy K Das While India’s Coal Ministry has announced a methodology for auction of coal supply linkages, it is now facing opposition from small consumers on “faulty process and lack of clarity on volumes on offer”. The Coal Ministry earlier stated that all fuel supplies from producer Coal India Limited... 

Creamer Media publishes Real Economy Insight: Gold 2015 brief

This eight-page brief is a synopsis of key developments in the gold industry over the past 12 months. It provides an overview of the South African gold market, including labour- and electricity-related challenges and prospects for the sector. 

Creamer Media publishes Real Economy Insight: Gold 2015 brief

Denison Mines to buy explorer Fission Uranium for about C$483m

By: Henry Lazenby     Updated 3 hours ago Canadian uranium exploration and development company Denison Mines has agreed to buy rival Fission Uranium for about C$483-million, in a deal that would create a new diversified Canadian uranium company with a portfolio of projects in the prolific Northern Saskatchewan mining region. Under terms... 

Denison Mines to buy explorer Fission Uranium for about C$483m
Photo by Fission Uranium
Exploration at Fission Uranium's Patterson Lake South Project, in Northern Saskatchewan.

Graphite price index falls 3 percentage points

By: Henry Lazenby     Updated 3 hours ago Weak end-markets has caused finer mesh grades of graphite to slip further as summer sales failed to see a seasonal upswing, London-based research house Benchmark Mineral Intelligence said in a new report on Monday. The Benchmark Graphite Index fell a further 3 percentage points in June, down... 

Pershing Gold lifts Reflief Canyon resource 34%

By: Henry Lazenby     Updated 3 hours ago Emerging precious metal producer Pershing Gold has lifted the measured and indicated resource at its flagship Relief Canyon mine project by 34%, reflecting improved confidence in the resource model. Reno, Nevada-based Pershing on Monday reported that an upgraded National Instrument... 

Greece, China woes trigger fresh rout, led by oil, copper

By: Reuters     Updated 5 hours ago Commodities prices dropped to their lowest in nearly three months on Monday, dragged lower by a fresh rout in oil and copper as Greece's rejection of debt bailout terms and China's stock market woes unleashed a fresh round of selling. Gold eked out small gains, one of only five commodities to... 

Fortune Minerals defaults on Colorado-based Revenue silver mine debt

By: Henry Lazenby     Updated 5 hours ago Canadian miner Fortune Minerals has defaulted on a metals prepay agreement with its major financing partner, triggering all amounts and deliveries owing under the contract to become immediately due and payable. Fortune and its subsidiary Fortune Revenue Silver Mines (FRSMI), which owned the... 

China Molybdenum says ready to make $2.15bn mine acquisition

By: Reuters China Molybdenum Luoyang Co is poised to make an offer for an overseas mining project costing up to $2.15-billion, the latest push by a Chinese enterprise to acquire resource assets beyond its borders. Officials from China Moly, as it is known, could not be immediately contacted for further... 

China Molybdenum says ready to make $2.15bn mine acquisition

Bowmore closes first tranche of private placement, board member resigns

By: Creamer Media Reporter TSX-V-listed Bowmore Exploration has closed the first $355 600 tranche of a nonbrokered private placement with Canadian investors. The precious metals-focused exploration mining company noted on Friday that the gross proceeds raised from the placement were to be used to incur Canadian exploration... 

Centerra’s Kumtor environmental permits extended to year-end

By: Creamer Media Reporter TSX-listed Centerra Gold’s Kumtor openpit gold mine, in the Issyk Kulp province of Kyrgyzstan, has received extensions until December 31 of its permits for emissions into the atmosphere and waste disposal into the tailings pond. The Toronto, Ontario, Canada-based company reconfirmed on Friday... 

Centerra’s Kumtor environmental permits extended to year-end

AGL to sell Hunter Valley CSG project, other noncore assets

By: Esmarie Swanepoel Energy major AGL Energy has warned of about A$435-million in after-tax asset impairments for the 2015 financial year as it divests of its noncore assets. The company told shareholders on Monday that the decision to divest of its noncore assets followed a comprehensive review of its upstream gas... 

Poseidon declares reserve at Maggie Hays

By: Esmarie Swanepoel Nickel miner Poseidon Nickel has reported a maiden reserve estimate for the Maggie Hays deposit, within the Lake Johnston project, in Western Australia, of 1.9-million tonnes, grading 1.19% nickel for 22 600 t of contained nickel. The miner reported on Monday that the ore reserve represented an... 

Northern Iron subsidiary gets a lifeline

By: Esmarie Swanepoel Iron-ore junior Northern Iron on Monday announced that its Norwegian subsidiary Sydvaranger Gruve AS (SVG) has instigated a number of initiatives to improve the company’s financial position and to ensure the continuation of the group’s operations. SVG earlier this year admitted to its economic... 

Portia hitting targets - Havilah

By: Esmarie Swanepoel ASX-listed gold junior Havilah Resources will add a second fleet of mining equipment at its Portia gold mine, in South Australia, to double excavation capacity after hitting production targets in June. The ASX-listed miner said on Monday that some 400 000 m3 of material was moved during June... 

Creamer Media publishes Real Economy Insight: Iron-Ore 2015 brief

This six-page brief is a synopsis of key developments in the iron-ore sector over the past 12 months, including details of the global and South African iron-ore markets, as well as prospects for the secto 

Creamer Media publishes Real Economy Insight: Iron-Ore 2015 brief

Creamer Media publishes Real Economy Insight: Coal 2015 brief

This ten-page brief is a synopsis of key developments in the coal industry over the past 12 months. It provides an overview of the global and South African coal markets and the role of coal in South Africa’s economy, with a particular focus on the role of coal in the generation of electricity. 

Creamer Media publishes Real Economy Insight: Coal 2015 brief

Rhodium slides to its lowest in more than a decade

By: Reuters Rhodium prices slid to their lowest level in more than a decade on Friday, suffering along with other platinum group metals from perceptions that the metal, widely used in the car industry, is in plentiful supply. Rhodium fell to $790 an ounce on Friday, its weakest since March 2004, extending... 

Metals investors look for miners to cut supplies to lift prices

By: Reuters Investors in industrial metals will keep a close watch on miners' results in coming weeks for possible announcements of production cutbacks that could bolster weak prices. "What will be very important over the next few weeks is whether we start to see some supply responses emerging during the... 

Metals investors look for miners to cut supplies to lift prices
Photo by Bloomberg
Iron-ore

Operations resume at Kenmare’s Moma mine

By: Megan van Wyngaardt Mineral sands miner Kenmare Resources on Friday reported that operations at its Moma mine, in Mozambique, had restarted, following a temporary suspension owing to extralegal industrial action. All employees had returned to work after embarking on the industrial action in response to cost-cutting... 

Black Rock ups Anglo stake to 5.17%, showing faith in the miner

By: African News Agency Black Rock, one of the world’s largest asset managers with $4.7-trillion under management, has increased its shareholding in mining group Anglo American to above 5%, the global diversified miner said on Friday. Black Rock’s shareholding now stands at 5.17% following the purchase of just over 70... 

Bohm to join Tawana board, expects to add value to Mofe Creek

By: Megan van Wyngaardt JSE-listed Tawana Resources appointed Michael Bohm to its board as an independent nonexecutive director, effective August 1. “We are delighted that Bohm has joined the board and recognise the extensive corporate and project development skills he brings to the role, with the particular emphasis of... 

NUM members strike at Amplats’ Twickenham

By: Creamer Media Reporter More than 524 members of the National Union of Mineworkers (NUM) have downed tools at Anglo American Platinum’s (Amplats’) Twickenham mine, in Burgersfort, Limpopo, after Capital Development Services (CDS) served the union with a Section 189A notice as demanded by the Labour Relations Act. In a... 

NUM members strike at Amplats’ Twickenham

Strata-X Energy appoints Greg Hancock nonexecutive director

By: Creamer Media Reporter TSX-V- and ASX-listed Strata-X Energy has appointment Greg Hancock as a nonexecutive director effective immediately, following the resignation of Don Schurman on Wednesday. Strata-X president Tim Hoops said on Thursday that Hancock’s extensive knowledge of corporate finance and capital markets in... 

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