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Record-quarter Sibanye forecasting best ever 2015 gold output

By: Martin Creamer     Updated 4 hours ago South Africa-focused gold-mining company Sibanye Gold, which achieved record latest quarter production, is forecasting best ever output for the new year. Sibanye, headed by CEO Neal Froneman, which hit the 452 700 oz (14 079 kg) quarterly high spot in the three months to December 31, is guiding... 

Record-quarter Sibanye forecasting best ever 2015 gold output
Photo by Duane Daws
Neal Froneman

CoAL’s Vele colliery receives enviro nod for plant upgrade

By: Natalie Greve     Updated 6 hours ago The Department of Environmental Affairs (DEA) has granted Coal of Africa Limited’s (CoAL’s) Vele colliery, in Limpopo, an amendment of the environmental authorisation in terms of the National Environmental Management Act and the Environmental Impact Assessment Regulations. This amendment was the... 

CoAL’s Vele colliery receives enviro nod for plant upgrade
Photo by Duane Daws
Vele colliery

Gem Diamonds warns of possible price softening in early 2015

By: Natalie Greve     Updated 4 hours ago Gem Diamonds CEO Clifford Elphick has cautioned that a weakening of diamond prices in the fourth quarter of last year, following a year of price growth, could continue into the first quarter of 2015. The group said on Tuesday that the announcement of the closure of the Antwerp Diamond Bank (ADB)... 

Cape Lambert gets first royalty from Timis

By: Esmarie Swanepoel     Updated 6 hours ago ASX-listed resource group Cape Lambert on Tuesday announced that it had received its first royalty payment of A$400 000 from Timis Mining Corporation, as part of a funding agreement with the junior. Cape Lambert in October last year entered into a $20-million funding agreement with Timis... 

Ethiopia says no to alluvial mining near hydropower dam project area

By: Ilan Solomons     Updated 2 hours 38 minutes ago Ethiopia’s Ministry of Mines has brought an end to London-listed Nyota Minerals’ plans to conduct alluvial mining along parts of the Abay river and its tributaries that would be flooded for the construction of the Grand Ethiopian Renaissance Dam (GERD). Nyota told shareholders in a statement on... 

Ethiopia says no to alluvial mining near hydropower dam project area

South African mediators say new laws will help resolve strikes faster

By: Reuters South Africa's main agency for settling labour disputes voiced confidence on Monday that it now has more leverage to bring an early end to strikes like those that dragged on for months last year, undermining economic growth. Nerine Kahn, director of the Commission for Conciliation, Mediation and... 

South African mediators say new laws will help resolve strikes faster

Mining companies suffer $70bn in impairment losses – report

     Updated 1 hour 29 minutes ago A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that... 

Mining companies suffer $70bn in impairment losses – report

Exploration at Kibo's Haneti project to continue

By: Megan van Wyngaardt     Updated 6 hours ago Dual-listed Kibo Mining would conduct further exploration at its Haneti nickel project, in central Tanzania, following a positive independent geochemical interpretation report. "With this new report [in] hand, the case for further exploration and development at Haneti is compelling. We are... 

Transition Metals and Implats expand Sunday Lake polymetallic discovery

By: Henry Lazenby Project generator Transition Metals's latest programme of diamond drilling at Sunday Lake, 25 km north of Thunder Bay, Ontario, has confirmed continuity of platinum-group metal (PGM) mineralisation over an area about 700 m long and 300 m wide, at depths tested between 370 m to 800 m below... 

Eskom must go for stability before improvement – GE 

By: Martin Creamer Troubled South African State power utility Eskom should place emphasis on stability ahead of improvement, GE chairperson and CEO Jeffrey Immelt suggested on Monday. Speaking at the Gordon Institute of Business Science (GIBS) in Johannesburg, the head of the 137-year-old, 350 000-employee US... 

Eskom must go for stability before improvement – GE
GE chairperson and CEO Jeffrey Immelt

Social aspects of MPRDA ‘likely unconstitutional’, Presidency explains

By: Megan van Wyngaardt President Jacob Zuma sent the Mining and Petroleum Resources Development Act (MPRDA) Amendment Bill back to the National Assembly last week, as the Act was “likely unconstitutional” in terms of its social aspects. In a statement made on Monday, the Presidency said that the amended legislation... 

Social aspects of MPRDA ‘likely unconstitutional’, Presidency explains
Photo by Duane Daws
President Jacob Zuma

Petra declares dividend, ups diamond production guidance

By: Martin Creamer London-listed South Africa-focused diamond-mining company Petra Diamonds, which on Monday declared its first dividend, has pushed up production guidance to 3.3-million carats for the year to June 30. Petra, which operates the Finsch, Cullinan, Koffiefontein and Kimberley Underground diamond mines... 

Petra declares dividend, ups diamond production guidance
Photo by Duane Daws
Johan Dippenaar

Creamer Media publishes Base Metals 2014: A review of Africa's base metal's sector research report

In light of these developments, Creamer Media’s Base Metals 2014 Report examines the global base metals market, with a particular focus on supply and demand, and on the production of copper, zinc, nickel and lead, as well as selected base metals operations and projects in Africa. 

Creamer Media publishes Base Metals 2014: A review of Africa's base metal's sector research report

India’s Coal Ministry seeks early completion of railway linkages

By: Ajoy K Das     Updated 5 hours ago India’s Coal Ministry has sought intervention and facilitation from the Railway Ministry and the Prime Minister’s Office to bring forward the completion date of a new railway network, from 2017 to 2016, to enable major Coal India Limited (CIL) to evacuate an additional 300-million tonnes a year... 

Orissa's bid to reopen mines faces legal challenge

By: Ajoy K Das     Updated 5 hours ago The Indian provincial government of Orissa’s bid to renew mining leases through the auction route has hit a roadblock with courts preventing the government from taking any final decision before the legal challenge is heard. After a preliminary hearing, the Orissa High Court passed an interim... 

Anglo American may sell two more Australian coal mines – report

By: Esmarie Swanepoel     Updated 5 hours ago Mining major Anglo American said on Tuesday that its coal portfolio review was still under way and that the outcome of the review was still to be determined. This comes after newswire Bloomberg reported that Anglo American may sell more of its Australian coal assets, citing a person with... 

Anglo American may sell two more Australian coal mines – report

Sirius saves A$30m at Nova, mining gets under way

By: Esmarie Swanepoel     Updated 5 hours ago Nickel miner Sirius Resources has reduced the capital cost at its Nova project, in Western Australia, by A$30-million, to A$443-million, as a result of cost saving on construction contracts and tenders. The miner told shareholders on Tuesday that the savings identified to date did not compromise... 

Lynas unlikely to be cash flow positive in March quarter – CEO

By: Esmarie Swanepoel     Updated 5 hours ago The share price of rare earths miner Lynas tumbled on Tuesday after CEO Amanda Lacaze said that the company was unlikely to remain cash flow positive during the March quarter, despite reaching this milestone during December. She said that factors contributing to this included the current market... 

Northern Iron says it needs more funding despite record sales

By: Esmarie Swanepoel     Updated 5 hours ago Despite reporting record production and sales for the year ended December, iron-ore miner Northern Iron on Tuesday warned shareholders that the company would require additional funding to continue as a going concern. Northern Iron reported that the continued decline of the iron-ore price had... 

Silver Lake production continues decline

By: Esmarie Swanepoel     Updated 5 hours ago Gold production from ASX-listed Silver Lake Resources’ Western Australian continued to decline during the quarter ended December, as production was affected by a five-day shutdown. Ore milled for the three months to December reached 297 168 t, recovering some 29 109 oz of gold. 

Ramelius increases full-year expectations

By: Esmarie Swanepoel     Updated 6 hours ago ASX-listed gold miner Ramelius Resources on Tuesday upgraded its full-year production guidance from 78 000 oz to 83 000 oz, as its Mt Magnet mine continued to defy expectations. Ramelius earlier this month reported that the Mt Magnet mine had delivered a record 23 235 oz of gold during the... 

Norton delivers another strong quarter

By: Esmarie Swanepoel     Updated 6 hours ago Gold miner Norton Gold Fields has again upped its gold production during the three months to December, with the miner reporting that 50 398 oz of gold had been delivered from its Paddington operations, in Western Australia. The December quarter production was up from the 46 957 oz delivered... 

Gindalbie looks to cut costs

By: Esmarie Swanepoel     Updated 6 hours ago Iron-ore miner Gindalbie Metals on Tuesday told shareholders that further cost cutting measures would be implemented at the company, including a reduction in administrative overheads and the elimination of committee fees payable to directors. Gindalbie said that it was also reviewing its... 

Nicolsons ready to go - Pacific Niugini

By: Esmarie Swanepoel     Updated 6 hours ago The Nicolsons gold mine, in Western Australia, has been cleared for development, after gaining final approval from the Department of Minerals and Petroleum, for its project management plan. The project was expected to have an initial mine life of four-and-a-half years, and would deliver an... 

JV reports first copper output from Boleo project, Mexico

By: Creamer Media Reporter The much-delayed and over budget Boleo copper/cobalt/zinc/manganese project, in Mexico, produced its first copper this month, with prior problems relating to the acid plant having been resolved, TSX-V-listed Baja Mining said in a statement. Joint venture firm and majority owner Boleo Minera y... 

Poland's KGHM plans dividends of up to one third of profits

By: Reuters Europe's No 2 copper producer KGHM plans to pay out dividends of up to one third of its 2014 annual profit, as it plans to spend 27-billion zlotys ($7.23-billion) to boost output over the next five years, the company said on Monday. The dividend policy of the state-controlled miner is in line... 

Seabridge Gold appoints independent panel to advise on KSM

By: Henry Lazenby British Columbia-focused project developer Seabridge Gold has established an independent geotechnical review board (IGRB) to review and consider its KSM project's tailings management facility (TMF) and water-storage dam (WSD), focusing on their structural stability and integrity. The IGRB would... 

Stonegate Agricom halts work on Idaho project permitting as coffers empty

By: Henry Lazenby Phosphate project developer Stonegate Agricom has temporarily halted permitting activities at its Paris Hills project, in Idaho, citing financial constraints. The TSX-listed firm noted on Monday that third-party consultants appointed to finalise the groundwater model for permitting applications,... 

Iron-ore hits 5-/12 yr low as China mills cut output

By: Reuters Iron-ore prices hit their lowest in 5-1/2 years on Monday as some loss-making Chinese steel mills curbed output, ore supplies remained abundant and concerns persisted about the outlook for economic growth in China this year. Cooling Chinese steel demand forced some steel mills to bring forward... 

All eyes on Saudi Arabia as ups and downs of oil price plunge considered

By: Simon Rees The end months of 2014 were grim ones for major oil-producing states everywhere, especially those in the Middle East. As the region continued grappling with the aftershocks of the Arab Spring and the threat of the Islamic State, they also watched the price of oil swoon. All eyes have turned to... 

All eyes on Saudi Arabia as ups and downs of oil price plunge considered

Freeport's 2015 Indonesian copper concentrate output seen up 43%

By: Reuters US mining firm Freeport-McMoRan is expected to produce two-million tonnes of copper concentrate from its Indonesian operations in 2015, up from 1.4-million tonnes in 2014, a mining ministry official said on Monday. "Last year they only gained permission to export in July and production was also... 

Cliffs suspends dividend, repays $400m in debt

By: Henry Lazenby US iron-ore and coal producer Cliffs Natural Resources has suspended its quarterly dividend as part of accelerated plans to repay its outstanding debt balance. Cleveland, Ohio-based Cliffs on Monday said it had already reduced its outstanding debt balance by more than $400-million during the... 

Diamonds stolen from Prieska mine

By: Sapa Sixteen men stole an undisclosed number of diamonds from a mine near Prieska on Monday morning, Northern Cape police said. "This morning at about 03:40, about 16 men stormed into a local mine near Prieska," said Lt Olebogeng Tawana. 

Public review period for KiPower water use licence report extended

By: Sashnee Moodley The public review period for the integrated water use licence application for the proposed construction of a 600 MW coal-fired independent power producer plant and associated infrastructure for Kuyasa Mining subsidiary KiPower will be extended until March 24.  

Public review period for KiPower water use licence report extended

Assets managed by ETFs to double to $5-trillion by 2020 – PwC

By: Reuters Assets under management of exchange traded funds (ETFs) will double to at least $5-trillion by 2020, consultant PwC said on Monday, as investors increase exposure to such products given their lower costs than traditional mutual funds. "Institutional investors are widely expected to be the primary... 

Assets managed by ETFs to double to $5-trillion by 2020 – PwC

Village restructures board

By: Natasha Odendaal As part of its ongoing restructure and strategic review, Village Main Reef has reshuffled its board, effective February 1. Village appointed Octavia Matloa as deputy chairperson and lead independent nonexecutive director, while Godfrey Ntoele would assume the role of independent nonexecutive... 

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