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Lace underground tunnel development slower than planned

By: Megan van Wyngaardt     Updated 2 hours 7 minutes ago Underground tunnel development at Southern Africa-focused diamond developer DiamondCorp’s Lace diamond mine, in the Free State, is proceeding slower than planned, owing to fractured ground close to old workings; however, the development work in the Upper K4 (UK4) block remains close to schedule... 

Lace underground tunnel development slower than planned

Clear policy guidelines will eliminate confusion between artisanal and illegal mining

By: Zandile Mavuso     Updated 5 hours ago While artisanal and small-scale mining (ASM) plays a fundamental role in the South African economy, as it helps reduce poverty and creates jobs for rural communities, the artisanal mining aspect has been labelled as illegal. This is because of the blurred delineation of artisanal and illegal... 

Clear policy guidelines will eliminate confusion between artisanal and illegal mining

South Africa's ArcelorMittal reports wider H1 loss

By: Reuters     Updated 4 hours ago Africa's largest steelmaker ArcelorMittal South Africa said on Friday its half-year losses widened amid lower international demand and a weak economy in its home market. Its headline loss per share rose to nearly 25 cents per share for the six months ended 30 June from 2 cents a year earlier, the... 

South Africa's ArcelorMittal reports wider H1 loss
Photo by Duane Daws
Newcastle Works

Kipoi debottlenecking to raise output to 32 500 t/y

By: Esmarie Swanepoel     Updated 4 hours ago A study for the debottlenecking of the Kipoi solvent extraction and electrowinning (SX-EW) plant, in the Democratic Republic of Congo, has revealed that copper production could be increased from the nameplate capacity of 25 000 t/y to 32 500 t/y. Project owner Tiger Resources on Friday said the... 

Teranga sees gold production increase

By: Esmarie Swanepoel     Updated 4 hours ago Gold miner Teranga Gold Corporation has reported a 24% increase in production from its Sabadola gold mine, in Senegal, for the three months to June. Gold production reached 49 392 oz, compared with the 48 643 oz produced in the March quarter. 

Zambia's CEC delays plan to cut power supply to mines – sources

By: Reuters     Updated 5 hours ago Zambia's power supplier Copperbelt Energy Corp. (CEC) has delayed a plan to reduce electricity to mines after mining firms warned they would have to close processing plants and shed jobs, industry sources said on Friday. Zesco Ltd., the main power generating firm in Africa's No. 2 copper... 

Overcoming ‘trust deficit’ key to surviving ‘these tough times’ – Cutifani 

By: Terence Creamer In a hard-hitting address, Anglo American CEO Mark Cutifani lamented the decline in the competitiveness of South Africa's mining industry and warned that the “trust deficit” between government, the industry and labour would need to be urgently overcome if the country and the sector were to... 

Overcoming ‘trust deficit’ key to surviving ‘these tough times’ – Cutifani
Photo by Duane Daws
Mark Cutifani

Phakisa mining lab gets Cabinet nod

By: Natasha Odendaal Plans to set up the first four-week Operation Phakisa ‘mining laboratory’ to identify and resolve the challenges plaguing South Africa’s mining sector have been given the Cabinet go-ahead. The Operation Phakisa mining lab, which would get under way in October, would identify a “set of concrete... 

Phakisa mining lab gets Cabinet nod

Inventory, liquidity headwinds dent Gem Diamonds’ H1 pricing

By: Natalie Greve High inventory levels and continued liquidity concerns, paired with global macroeconomic uncertainties, have continued to place pressure on the price of rough and polished diamond prices, denting the realised price of commercial stones recovered at Gem Diamonds’ Ghaghoo mine, in Botswana, for the... 

Lonmin: victim of price falls and management wobbles

By: Reuters Platinum producer Lonmin is facing its deepest crisis to date, hurt by a downturn in the metal and haunted by a mixture of bad luck and debatable management choices that are putting its survival at risk. Times are tough for everyone in the platinum sector. 

Newmont evaluates increased output at Tanami

By: Esmarie Swanepoel     Updated 3 hours ago Gold miner Newmont Mining will reach a decision on the possible expansion of its Tanami operation later this year. Newmont’s Asia Pacific leader Tom Palmer told the WA Mining Club this week that the company’s Full Potential programme had seen a 22% increase in production at Tanami, and reduced... 

RNI shares rise on WA gold asset sale news

By: Esmarie Swanepoel     Updated 4 hours ago The share price of ASX-listed RNI increased by 60% on Friday as the company announced plans to sell its Western Australian gold assets to fellow-listed Metals X. The two parties have executed a binding heads of agreement under which RNI would divest of its Grosvenor, Horseshoe and part of its... 

RNI shares rise on WA gold asset sale news

ERA H1 loss widens

By: Esmarie Swanepoel     Updated 4 hours ago Uranium miner Energy Resources of Australia (ERA) has reported a net loss of $255.3-million for the six months ended June 30, owing to a $197-million impairment charge. ERA had previously warned shareholders of the massive write-off, following the deferral of the Ranger 3 Deeps underground... 

A$970m needed for Mt Peake development

By: Esmarie Swanepoel     Updated 4 hours ago A definitive feasibility study (DFS) into the Mt Peake vanadium-titanium-iron project, in the Northern Territory, has attached a capital cost of A$970-million to develop the project. ASX-listed TNG on Friday said the Mt Peake project would generate a pretax internal rate of return of 41%, a... 

Anglo American signs power option at Grosvenor

By: Esmarie Swanepoel     Updated 4 hours ago ASX-listed Energy Development has inked an agreement with mining major Anglo American for the development of a waste coal mine gas power station at the Grosvenor metallurgical coal mine, in Queensland. Grosvenor is Anglo American’s $1.9-billion flagship underground longwall mine, which will... 

Chatree delivers for Kingsgate

By: Esmarie Swanepoel     Updated 4 hours ago Gold miner Kingsgate Consolidated has reported higher production of 55 601 oz for the three months to June 30, compared with the 34 538 oz produced in the previous quarter. The higher output was owing to its Chatree mine, in Thailand, having resumed operations in March after a temporary... 

Grupo Mexico says seeking partners for Mexico oil auction

By: Reuters Mexican mining, rail and infrastructure company Grupo Mexico said on Thursday that it was looking at partnering up with companies to bid in the second phase of Mexico's first round of oil field auctions. "We are looking at joint ventures with strategic players, we've been working so far with... 

Barrick sells 50% of Zaldívar copper mine, forming partnership with Antofagasta

By: Henry Lazenby The world’s largest gold miner by output Barrick Gold has agreed to sell half of its interest in the Zaldívar copper mine, in Chile, to Antofagasta for $1-billion in cash, forming a partnership with one of the world’s largest copper producers. Barrick was in the process of reducing its... 

Cameco net earnings slide 31%

By: Henry Lazenby Canada’s top uranium producer Cameco on Thursday reported a 31% slide in net earnings as higher costs and a C$28-million settlement charge weighed-down its bottom line. Net earnings attributed to equity holders for the quarter ended June 30 were C$88-million, or C$0.22 a diluted share, compared... 

Goldcorp slashes dividend 60% despite strong Q2 performance

By: Henry Lazenby The world’s largest gold miner by market capitalisation Goldcorp on Thursday said it would cut its monthly dividend a share by 60% to $0.02, effective from August 1, despite more than doubling its second-quarter profit. The TSX- and NYSE-listed miner, which produced gold, silver, copper, lead and... 

Arch Coal widens loss as tough coal market conditions persist

By: Henry Lazenby US coal producer Arch Coal has widened its second-quarter loss to $168-million, or $0.79 a diluted share, as it was grappling with one of the worst coal market downturns in history. For the quarter ending June 30, the company recorded a $19.1-million impairment charge and incurred $4-million in... 

Zimbabwe to cut royalty fees levied on small gold mines – finmin

By: Reuters Zimbabwe will reduce royalties levied on small-scale gold producers to 1% from 3% from September to boost output from the sector, Finance Minister Patrick Chinamasa said on Thursday. In a half-year budget presentation to parliament, Chinamasa said deliveries of gold from small scale producers had... 

OceanaGold, Romarco union to create lowest-cost global gold producer

By: Henry Lazenby Triple-listed OceanaGold has agreed to buy Canadian project developer Romarco Gold in an all-scrip deal valued at about C$856-million, which upon closing, would create the lowest-cost global gold producer. Romarco's main asset was the Haile gold mine, in South Carolina, which was a high-grade... 

OceanaGold, Romarco union to create lowest-cost global gold producer
Photo by Romarco Minerals
Haile, South Carolina.

Gold producers table final three-year wage offers

By: Megan van Wyngaardt Gold producers AngloGold Ashanti, Evander Gold Mines, Harmony Gold and Sibanye Gold have tabled their final three-year offers for wage and benefit increases to representative unions, the Association of Mining and Construction Union (AMCU), the National Union of Mineworkers (NUM), Solidarity and... 

Northam, NUM reach wage settlement

By: Creamer Media Reporter Platinum producer Northam Platinum has inked a three-year wage agreement with the National Union of Mineworkers (NUM) for workers at the Zondereinde mine, in Limpopo. Entry-level underground employees would be provided a 13% basic wage and allowance increase in the first year, followed by... 

As gold price falls, miners pick derivatives to protect income

By: Reuters Gold mining companies are turning increasingly to derivatives to lock in future revenues, as an industry still smarting from losing out on a 12-year bull run gets creative over protecting its income during the metal's current downturn. While miners overall remain wary of hedging -- the... 

Guidelines needed to eliminate confusion between artisanal, illegal mining

By: Creamer Media Reporter Creamer Media's Leandi Kolver speaks to senior staff writer Zandile Mavuso about the clear policy guidelines that are needed to eliminate the confusion between artisanal and illegal mining. 

Guidelines needed to eliminate confusion between artisanal, illegal mining

India's jewellery exports can quintuple to $40bn if controls tightened

By: Reuters India's gold jewellery exports could jump five times to $40-billion per year by 2020 if quality controls are tightened, the World Gold Council (WGC) said, adding the country is punching below its weight due to questions over the purity of its products. Mom-and-pop shops employing generational... 

First Quantum idles Sentinel to operate Kansanshi at capacity amid power reductions

By: Natasha Odendaal Aim- and TSX-listed First Quantum Minerals has idled its Sentinel processing plant and redirected its power supply to enable its Kansanshi mine to operate as close to capacity as possible and maintain its development momentum, as Zambia’s power utility imposes power restrictions on mines in the... 

First Quantum idles Sentinel to operate Kansanshi at capacity amid power reductions

Resources Watch

By: Creamer Media Reporter This week: South Africa’s new JSE-backed oil and gas code is globally aligned. And, low iron-ore prices are killing jobs at Kumba. 

Resources Watch

Randgold commits to continued investment at Loulo, in Mali

By: Natalie Greve As it gears up to take over underground mining operations at the Yalea and Gara mines, in Mali, Randgold Resources will continue to invest in the 4.9-million-ounce Loulo complex, which now ranks as one of the largest of its kind in the world. In a statement issued following a tour of the complex,... 

Drilling at Harmony’s Kili Teke confirms ‘fantastic copper-gold find’

By: Megan van Wyngaardt In a world where new discoveries are rare, Harmony Gold is encouraged by the prospect that Kili Teke could well develop into another major copper-gold discovery, commented CEO Graham Briggs. Additional drilling at the JSE-listed miner’s Kili Teke prospect in the Hela province, in Papua New Guinea... 

Zambia's H1 copper output rises 2.1%

By: Reuters Zambia's copper production increased by 2.1% in the first half of 2015 versus the same period last year as mining companies in Africa's No.2 producer of the metal ramped up output in May and June, the statistics office said on Thursday. "Increase in copper production in May and June of 2015 was... 

India to adopt open door policy for mineral exploration

By: Ajoy K Das The Indian government was working towards adopting an open door policy for mineral exploration but would not offer any fiscal incentive or relaxed ownership rights in cases of successful exploration. A senior official in the Mines Ministry said that under the open door policy, exploration in... 

Newly opened Ungani oilfield to benefit WA

By: Esmarie Swanepoel The Ungani onshore oilfield, in the Kimberley was officially opened this week, marking the first oil development in the region in nearly 30 years. Mines and Petroleum Minister Bill Marmion said the joint venture (JV) between ASX-listed Buru Energy and Mitsubishi Corporation was expected to... 

Stanmore eyes 2016 production start for Isaac Plains mine

By: Esmarie Swanepoel ASX-listed Stanmore Coal has bought the Isaac Plains coal mine, in Queensland, from project owners Vale and Sumitomo Corporation for $1. Stanmore would assume all of the outstanding contracts, including transport infrastructure access arrangements and a $32-million rehabilitation obligation... 

Stanmore eyes 2016 production start for Isaac Plains mine
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