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Lonmin closes BEE equity gap

By: Martin Creamer     Updated 3 hours ago Platinum-mining company Lonmin on Wednesday completed three transactions that take its black economic empowerment (BEE) shareholding to the 26% laid down by South African law. The London- and Johannesburg-listed company said the three transactions had been concluded with employees and near-mine... 

Lonmin closes BEE equity gap
Photo by Duane Daws
Ben Magara

Richland exits Tanzania, narrows focus on Australia

By: Natasha Odendaal     Updated 4 hours ago A day after announcing that it had gained some control over illegal mining activities at its Tanzanian operations, Aim-listed Richland Resources has agreed to sell the embattled TanzaniteOne Mining Limited (TML) to Sky Associates for $5.1-million. The gemstone producer and developer, following a... 

Richland exits Tanzania, narrows focus on Australia
Tanzanite

Paladin raises A$50m

By: Esmarie Swanepoel     Updated 6 hours ago Uranium miner Paladin Energy has completed an accelerated institutional component of its A$144-million entitlement offer, raising about A$50-million, with more than 86% of entitlements taken up. The dual listed miner said on Wednesday that the new shares, which were priced at 26c each, would... 

IFM Section 54 notice lifted, 4 000 t of production lost

By: Leandi Kolver     Updated 37 minutes ago International Ferro Metals (IFM) on Wednesday announced that the Section 54 notice for its two ferrochrome furnaces and pelletiser has successfully been lifted following a meeting with the Department of Mineral Resources. The Section 54 notice had been issued last week following a health and... 

PTM seeks determination of scale of Waterberg deposit

By: Natasha Odendaal     Updated 4 hours ago TSX- and NYSE-listed Platinum Group Metals (PTM) sought to determine the scale of the Waterberg deposit as it progressed the exploration of the Waterberg Joint Venture (JV) in South Africa’s Bushveld Igneous Complex. The group remained focused on further exploration and engineering on the newly... 

Namib DFS shows low risk and robust economics

By: Leandi Kolver     Updated 18 minutes ago The definitive feasibility study (DFS) for Aim-listed North River Resources’ Namib lead/zinc/silver mine, in Namibia, has confirmed that the project is technically low risk and economically robust, the company said on Wednesday. It added that a strong after-tax internal rate of return of more... 

Forsys reports positive metallurgical results for Namibia project

By: Creamer Media Reporter      Updated 14 minutes ago SGS South Africa has completed a metallurgical study on Namibia-focused uranium explorer Forsys Metals’ Norasa project, which comprises the Valencia and Namibplaas projects. The metallurgical study was a major component of the feasibility study (FS) for the project, which was being prepared by... 

Forsys reports positive metallurgical results for Namibia project

Botswana must diversify – Khama

By: Anine Vermeulen     Updated 16 minutes ago Botswana should focus on establishing a diamond sector that was second to none, President Ian Khama said during the thirteenth Confederation of Commerce, Industry and Manpower in Maun, this week. He noted that the relocation of diamond aggregation and sales to Gaborone, as well as the development... 

Kobada scoping study demonstrates robust project economics

By: Leandi Kolver     Updated 7 hours ago TSX-V-listed African Gold Group on Tuesday announced the completion of a scoping study and an updated preliminary economic assessment (PEA) for its Kobada gold project, in Mali, demonstrating low capital expenditure requirements and high returns. African Gold said the scoping study demonstrated... 

SA meets more nuclear vendors amid ‘costly diversion’ criticism

By: Terence Creamer     Updated 48 minutes ago The Department of Energy (DoE) confirmed on Wednesday that the second nuclear vendor parade workshop, which took place at a venue in the Drakensberg, had been concluded with delegations from China, France, South Korea and the US. The first such workshop, which was also held in the Drakensberg in... 

SA meets more nuclear vendors amid ‘costly diversion’ criticism
Photo by Duane Daws
Professor Anton Eberhard

Triton completes Mozambique graphite project's scoping study

By: Esmarie Swanepoel     Updated 6 hours ago A scoping study into ASX-listed Triton Minerals’ Nicada Hill graphite project, in Mozambique, has estimated that the project could support a production of 210 000 t/y of graphite concentrate. The scoping study was based on a 51-million-tonne indicated resource, grading 12.4% graphitic carbon,... 

SAIL wants Indian coal blocks to be awarded by govt

By: Ajoy K Das     Updated 6 hours ago Even as the Indian government gets ready to launch its maiden allocation of coal blocks through competitive auction, demands have surfaced that the resource should be allocated through a ‘government dispensation route’, or based on government’s recommendations. Leading the charge was Steel... 

Creamer Media publishes Coal 2014: A review of South Africa's coal sector research report

Creamer Media’s Coal 2014 report examines South Africa’s coal industry amid the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the market, as well as various issues... 

Creamer Media publishes Coal 2014: A review of South Africa's coal sector research report

BHP misses out to China's Jinchuan on nickel pact

By: Reuters     Updated 3 hours ago BHP Billiton's struggling Nickel West smelter in Australia lost out on a potential key supply source of nickel when rival Jinchuan Group of China signed a purchase agreement with an Australian miner. Australia's no. 3 nickel miner, Western Areas, on Wednesday said it reached a two-year agreement... 

JV nears completion of Agata nickel processing plant DFS

By: Creamer Media Reporter      Updated 5 hours ago TSX-V- and Frankfurt-listed Mindoro Resources says its subsidiary, Agata Processing Inc (API), expects to complete a definitive feasibility study (DFS) for a nickel processing plant at the Agata project, in northern Mindanao, Philippines, by the end of this year. TVI Resource Development (TVIRD)... 

Osisko buys more shares in Virginia Mines

By: Natasha Odendaal     Updated 5 hours ago As TSX-listed Osisko Gold Royalties geared up to combine its business with TSX-listed Virginia Mines, the Montreal-headquartered gold-focused royalty and stream company acquired a further one-million shares in Virginia Mines. Osisko, which still had to complete the acquisition of 2.38-million... 

Rochester royalty earns Rye Patch $2.61m in first nine months of 2014

By: Creamer Media Reporter      Updated 6 hours ago Junior miner Rye Patch on Wednesday said the Rochester mine net smelter return (NSR) had earned it $2.61-million, or about C$2.85-million, in the first three quarters of this year. The Rochester mine paid a 3.4% NSR royalty quarterly to Rye Patch on each ounce of silver and gold produced and sold. 

Klondex Mines receives $10.3m from the exercise of warrants

By: Creamer Media Reporter      Updated 6 hours ago Nevada-focused narrow-vein gold miner Klondex Mines has raised $10.3-million through the exercise of warrants by shareholders during October and November. About 5.86-million common share purchase warrants were exercised at a price of $1.75 a share. 

Decline in commodity prices puts brakes on resource projects

By: Esmarie Swanepoel     Updated 6 hours ago The latest data from the Bureau of Resources and Economics (BREE) has revealed that the downward spiral in commodity prices has resulted in an increase in the number of resource projects either being delayed or deferred. BREE stated in its latest Resources and Energy Major Projects report that... 

Decline in commodity prices puts brakes on resource projects

WPG buys out JV partner in Tunkillia gold project

By: Esmarie Swanepoel     Updated 6 hours ago Junior developer WPG Resources has taken full ownership of the Tunkillia gold project, in South Australia, after reaching an agreement with joint venture partner Helix Resources. WPG acquired a 70% shareholding in the Tunkillia project at the end of May this year, through a transaction with... 

Golden Queen says California precious metals project on schedule

By: Creamer Media Reporter      Updated 6 hours ago The Soledad Mountain gold and silver project near Mojave, in California, is proceeding on schedule, with processing facilities set to be commissioned in late 2015, TSX-listed Golden Queen Mining reported on Tuesday. The Vancouver-based company said its 50%-owned subsidiary, Golden Queen Mining... 

Mount Gibson in trading halt over further pit slump

By: Esmarie Swanepoel     Updated 6 hours ago Iron-ore miner Mount Gibson Iron on Wednesday went into a trading halt, after a further slump in the Main pit seawall, at its Koolan Island mine, in Western Australia, interrupted geotechnical repairs at the site. Last month, operations in the Main pit were temporarily suspended as a... 

Woodside adds more acreage in Africa

By: Esmarie Swanepoel     Updated 6 hours ago Australian oil and gas major Woodside has again increased its foothold in Africa, announcing on Wednesday that it had entered into a contract for a reconnaissance licence offshore Morocco. The company told shareholders that it had entered into an exclusive contract with the national oil company... 

Enviro assessment process for Taseko’s Aley project starts

By: Creamer Media Reporter      Updated 6 hours ago The British Columbia Environmental Assessment Office (BCEAO) will start an environmental assessment review of TSX- and NYSE-listed Taseko Mines’ Aley niobium project in northern British Columbia. Additionally, the Federal Minister of Environment had granted substitution of the environmental... 

Cobre looks for lithium at Pilbara tenements

By: Esmarie Swanepoel     Updated 6 hours ago ASX-listed Cobre Montana and fellow-listed Pilbara Minerals have executed a memorandum of understanding (MoU) to test the lithium carbonate potential in Pilbara’s Pilgangoora project, in Western Australia. Under the terms of the MoU, Cobre Montana will undertake a six-months study of the... 

RNI confirms funding talks for Grosvenor

By: Esmarie Swanepoel     Updated 6 hours ago Gold hopeful RNI on Wednesday told shareholders that it had received various financing proposals for its Grosvenor project, in Western Australia. The company noted that the proposals included the financing required to bring the Grosvenor project into production, as well as to repay RNI’s... 

Eskom says New Largo coal supply talks with Anglo back on track

By: Terence Creamer Electricity utility Eskom says it and Anglo American have concluded a memorandum of understanding (MoU) that maps out the process to be followed to enable the parties to conclude a final coal-supply contract for the Kusile power station, which is currently being build in the Mpumalanga province.... 

Eskom says New Largo coal supply talks with Anglo back on track
Photo by Duane Daws
Eskom capital division group executive Dan Marokane

US Federal Court grants injunction halting EPA process against Alaska’s Pebble

By: Leandi Kolver The US Federal District Court has granted the Pebble Limited Partnership’s (PLP’s) request for a preliminary injunction in its litigation against the US Environmental Protection Agency (EPA), PLP parent company Northern Dynasty Minerals reported on Tuesday. The EPA in February announced that it... 

US Federal Court grants injunction halting EPA process against Alaska’s Pebble
Northern Dynasty Minerals' Pebble project

Rare ruby expected to attract attention at Gemfields auction

By: Martin Creamer A rare ruby is expected to attract attention at London Aim-listed Gemfields’ upcoming ruby auction. The 40.23-carat rough ruby, unearthed at the company’s Montepuez deposit in Mozambique’s northeast Cabo Delgado province, is expected to set a new benchmark for the quality of African rubies. 

Rare ruby expected to attract attention at Gemfields auction
Photo by Duane Daws
Ian Harebottle

Omnia expecting future benefit from new underground mining product, H1 profit lower

By: Leandi Kolver Specialised chemicals provider Omnia was expecting to see financial gains from its new underground charging unit, which enables it to take its emulsion into the underground mining space, during the next financial year, MD Rod Humphris said on Tuesday. Speaking at a presentation of the group’s... 

Omnia expecting future benefit from new underground mining product, H1 profit lower
Photo by Duane Daws
Omnia CEO Rod Humphris

Dec Medupi Unit 6 sync deadline at risk, as unit interval plan comes into focus 

By: Terence Creamer Electricity utility Eskom has confirmed a likely further, albeit modest, slippage in the schedule for first synchronisation of Medupi Unit 6, which was scheduled for December 24, 2014. The delay is the latest in several to afflict the project, which has faced numerous technical problems and... 

Dec Medupi Unit 6 sync deadline at risk, as unit interval plan comes into focus
Photo by Eskom
Medupi project site

Operational, financial headwinds place Eskom in worst position in ‘living memory’ 

By: Terence Creamer State-owned electricity utility Eskom is forecasting a dramatic slump in profitability for the full-year to March 31, 2015, with CEO Tshediso Matona indicating that its profit is likely to fall to R500-million in 2014/15 from nearly R7.1-billion in 2013/14. Releasing interim results on Tuesday,... 

Operational, financial headwinds place Eskom in worst position in ‘living memory’
Photo by Duane Daws
Eskom CEO Tshediso Matona

Paragon selects design, orders processing plant for Lemphane

By: Natasha Odendaal Aim-listed Paragon Diamonds has finalised the design and order of a $6-million 75 t/h processing plant for the Lemphane kimberlite mine, in Lesotho. The mine is owned by Paragon’s 80%-owned subsidiary Meso Diamonds. 

Petra BEE partners refinance loan

By: Natasha Odendaal Petra Diamonds’ black economic-empowerment (BEE) partners have secured refinancing from Absa Corporate and Investment Banking and FirstRand Bank, through Rand Merchant Bank (RMB), to settle the R1.08-billion in loans due to Petra following Senakha Mining Investments, Thembinkosi Mining... 

Petra BEE partners refinance loan

Richland gains traction on evicting illegal miners

By: Natasha Odendaal Illegal mining continued to impact the quality of the tanzanite produced by Richland Resources; however, actions by the gemstone producer and developer and the Tanzanian Government to expel illegal miners from the southern part of the Block C Merelani mine were gaining traction. A government-led... 

Richland gains traction on evicting illegal miners

India plans to increase number of coal blocks for maiden auction

By: Ajoy K Das In a bid to hasten the process of getting the coal sector back on the rails, the Indian government is considering increasing the number of coal blocks to be put up for the country’s maiden auction. Considering the demand from thermal power producers with projects stranded by lack of dry fuel... 

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