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Sampling confirms lithium in Namibia – Montero

By: Martin Creamer     17th November 2017 Exploration and development company Montero, which is putting mineralisation to the test in Namibia in search of a lithium resource, on Friday confirmed the presence of the soft silver-white metal in central Namibia. “Montero’s first channel sampling programme has confirmed lithium,” Montero CEO... 

Sampling confirms lithium in Namibia – Montero
Montero CEO Dr Tony Harwood

Eskom tariff hike a threat to mining jobs – CoM

By: Natasha Odendaal     17th November 2017 The Chamber of Mines (CoM) on Friday opposed State-owned power utility Eskom’s proposed 19.9% tariff increase application, stating that the increase would send South Africa into a vicious downward spiral of higher electricity prices, lower growth and lower electricity consumption. Presenting at... 

Eskom’s business model is ‘no longer fit for purpose’

By: Terence Creamer     17th November 2017 Organised business made an impassioned plea this week for government to urgently review Eskom’s business model, which it said was “no longer fit for purpose”. In a presentation to the National Energy Regulator of South Africa, business also warned that, in the absence of a holistic view within... 

Eskom’s business model is ‘no longer fit for purpose’
Photo by Duane Daws
Busa VP Martin Kingston

NUM postpones planned coal sector strike

By: Creamer Media Reporter      17th November 2017 The National Union of Mineworkers (NUM) will postpone its planned strike in the coal sector, as some coal companies have decided to table new offers to NUM members. The union on Friday said the coal companies would present the new wage offers on Monday, after which the union would decide to... 

Sasol shareholders approve new R21bn BEE structure

By: Megan van Wyngaardt     17th November 2017 Sasol Khanyisa, a R21-billion broad-based black economic empowerment (BBBEE) ownership structure, has been granted formal approval by Sasol shareholders. “We are delighted with this outcome as it marks a significant milestone in Sasol’s transformation journey. Sasol Khanyisa will be implemented... 

BHP facing uncertain future as shareholders push for change

By: Esmarie Swanepoel     17th November 2017 Ratings agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates & Elliot International, has been picking at... 

BHP facing uncertain future as shareholders push for change

Lemur appoints owner’s engineer, technical advisers for Imaloto BFS

By: Mia Breytenbach     17th November 2017 Aim-listed Bushveld Minerals’ Lemur Resources subsidiary, which is developing an integrated thermal coal mining and independent power producer asset in Madagascar, has appointed an owner’s engineer and technical advisers for  the bankable feasibility study (BFS) for the Imaloto power project.... 

Wescoal expecting earnings drop for H1

By: Megan van Wyngaardt     17th November 2017 JSE-listed Wescoal expects to report a 29% year-on-year drop in headline earnings a share to around 20.5c apiece, when it reports its results for the six months ended September 30. Alongside this, the miner’s earnings a share were expected to fall by between 16.7% and 20.3% year-on-year to 23c... 

Botswana Diamonds positive about potential at South African project

By: Anine Kilian     17th November 2017 A detailed ground geophysical survey undertaken on eight Group 1 kimberlites at Aim-listed Botswana Diamonds’ Free State exploration project, which is located between Bloemfontein and Kimberley, in South Africa, has indicated that the sizes of these kimberlites range from 0.3 ha to 1.15 ha. The... 

Arafak Q3 impacted by seasonal factors

By: Natasha Odendaal     17th November 2017 After delivering positive and robust first and second quarters, Nasdaq- and LSE-listed Afarak Group’s third quarter was hit by seasonal fluctuations. The group on Friday posted strong revenue growth on the back of higher ferrochrome prices and strong market fundamentals; however, profitability... 

Avesoro starts drilling programme at New Liberty

By: Megan van Wyngaardt     17th November 2017 Four diamond drill rigs have been mobilised to dual-listed Avesoro Resources’ wholly owned New Liberty mine, in Liberia, where a 14 000 m diamond core drilling campaign has started. The campaign is targeting an area of the New Liberty resource model containing an inferred mineral resource of some... 

Cobalt hedging not mining the route for VW in EV drive

By: Reuters     17th November 2017 Volkswagen is not looking to secure long-term supplies of cobalt, a key ingredient of electric-car batteries, by investing in mines, a senior official at the automaker said. Demand for cobalt is expected to soar as carmakers rush to embrace electric vehicles (EVs) in response to governments... 

Brazil's Samarco mine sees need to cut staff by 600

By: Reuters     17th November 2017 Brazilian iron-ore miner Samarco has told unions it needs to cut 600 workers by December, the joint venture between Brazil's Vale and Anglo-Australian miner BHP Billiton said in a statement on Friday. Samarco said it would resume talks with unions Metabase Mariana and Sindimental on Friday... 

Mining Weekly iPhone and Android Apps available for free download 

     17th November 2017 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Alrosa Q3 net profit halves on losses from flooded mine

By: Reuters     17th November 2017 Alrosa, the world's largest producer of rough diamonds, said third-quarter net profit has halved to 12.95-billion roubles from the year-ago period, caused by losses related to a flooded underground mine. The company said it incurred losses worth 7.38-billion roubles from the flooded mine Mir. 

Corsa sees sales volume growth for sixth consecutive quarter

By: Anine Kilian     17th November 2017 Even though the global supply chain for metallurgical coal remains challenged and prone to disruption, strong steel pricing and production levels have helped to sustain a high level of demand for raw materials, which include metallurgical coal, according to Corsa Coal CEO George Dethlefsen. In a... 

Galantas highlights need to secure sufficient funding

By: Megan van Wyngaardt     17th November 2017 Following disappointing results for the third quarter ended September 30, dual-listed miner Galantas Gold Corporation on Friday said its future viability depended on the consolidated results of its wholly-owned subsidiary Cavanacaw Corporation, which holds 100% in Galantas’ Omagh Minerals and... 

Ferrexpo secures $195m loan

By: Megan van Wyngaardt     17th November 2017 Swiss headquartered iron-ore company Ferrexpo has signed a new secured three-year revolving credit facility of $195-million, arranged by BNP Paribas. The facility includes a syndicate of six international lenders and will amortise over eight quarters, with the final repayment due on December 31,... 

Venturex raises A$4m from investors

By: Esmarie Swanepoel     17th November 2017 Metals explorer Venturex Resources will raise some A$4-million through an institutional placement to advance its Sulphur Springs copper/zinc project, in Western Australia. The company on Friday said that it would place some 222-million shares, at 1.8c each to institutional and sophisticated... 

Bauxite Resources: Mercantile’s statements misleading

By: Esmarie Swanepoel     17th November 2017 Takeover target Bauxite Resources has defended its position in the wake of a proposed takeover offer from ASX-listed Mercantile Investment Company. Mercantile on November 8 announced its plans to make a proportional off-market takeover bid for Bauxite Resources, offering 9c a share for one of... 

Finders expects lower Dec quarter copper output, higher costs

By: Esmarie Swanepoel     17th November 2017 Copper miner Finders Resources reported on Friday that a delay at its Wetar copper project, in Indonesia, would see quarterly production remain below par. The company lowered its copper cathode production for the December quarter to be between 4 000 t and 5 000 t, from a previous estimate of... 

Finders expects lower Dec quarter copper output, higher costs

More ounces added at Antipa's Citadel project

By: Esmarie Swanepoel     17th November 2017 ASX-listed Antipa Minerals has reported a 50% increase in gold grade and ounces at its Citadel project’s Calibre deposit, in Western Australia, following an exploration programme funded by major Rio Tinto. The Calibre deposit is now estimated to host an inferred mineral resource of 47.7-million... 

Lithium Power shares rise as Chinese show interest

By: Esmarie Swanepoel     17th November 2017 The share price of Lithium Power International increased by nearly 9% on Friday on news of Chinese interest at the Maricunga lithium brine project, in Chile. Lithium Power on Friday confirmed that its Chilean joint venture partner has entered into discussions with Chinese major Fulin Group, over... 

Korab takes another look at Winchester

By: Esmarie Swanepoel     17th November 2017 ASX-listed Korab Resources has initiated an update to the prefeasibility study (PFS) of its Winchester magnesite project, in the Northern Territory, with the aim of incorporating the recent increase in global magnesium carbonate prices, potential changes to the mine lay-out and openpit contours,... 

Polish coal miner JSW's Q3 profit falls short of estimates

By: Reuters     17th November 2017 JSW, the European Union's biggest coking coal producer, reported a net profit of 360-million zlotys ($100.3-million) in the third quarter compared with a net loss of 139-million zlotys a year ago, thanks to higher coal prices and lower costs. The third-quarter bottom line in the state-run JSW... 

Polish coal miner JSW's Q3 profit falls short of estimates

Barra raises cash for Mt Thirsty

By: Esmarie Swanepoel     17th November 2017 Junior metals explorer Barra Resources will raise A$1-million through a share purchase plan (SPP) to advance its Mount Thirsty cobalt project, in Western Australia, to beyond the recently completed scoping study. The SPP will allow shareholders to subscribe for up to A$15 000 worth of new... 

Fire hits Freeport Indonesia port facility in Papua

By: Reuters     17th November 2017 A fire broke out at the main port used by copper miner Freeport-McMoRan Inc in Papua, Indonesia, on Thursday night, the company said. The fire occurred at the Amamapare port in a plant where copper concentrate from the giant Grasberg copper mine is processed before loading onto vessels for... 

Alamos shareholders support Richmont acquisition

By: Henry Lazenby     17th November 2017 The majority of Alamos Gold shareholders have voted in favour of its planned $747-million acquisition of boutique gold producer Richmont Mines. Richmont shareholders also on Thursday approved the transaction. 

Teck declares supplemental dividend of C$0.40 a share

By: Henry Lazenby     17th November 2017 Canadian diversified miner Teck Resources has declared a C$260-million supplementary dividend to return surplus cash on hand to shareholders, while simultaneously announcing a C$230-million share buyback programme. The Vancouver-headquartered company reported a strong balance sheet at the end of... 

Argentina Lithium embarks on 10 000 m drill campaign; open to more acquisitions 

By: Henry Lazenby     17th November 2017 TSX-V-listed lithium explorer Argentina Lithium on Thursday announced that it has appointed a new project manager to oversee a 10 000 m exploration drilling campaign at its two active projects in Argentina – located within the prospective Arizaro and Incahuasi salars. The Vancouver-headquartered... 

Argentina Lithium president and CEO Nikolaos Cacos discusses the company’s new 10 000 m exploration drilling campaign spread over its two main lithium assets, in Argentina. Video: Henry Lazenby; Editing: Lionel da Silva.

Mkango shares jump on Talaxis investments

By: Natasha Odendaal     16th November 2017 The share price of Mkango Resources on the LSE surged by up to 135% on Thursday afternoon after the company reported securing a £12-million direct investment that will enable the funding of a bankable feasibility study (BFS) for its Songwe Hill rare-earth project, in Malawi. The company’s shares... 

Mkango shares jump on Talaxis investments

Pallinghurst director takes up position as Jupiter Mines CEO

By: Anine Kilian     16th November 2017 Priyank Thapliyal has been appointed CEO of Jupiter Mines, in which Pallinghurst Resources holds an 18.4% interest. Thapliyal has, therefore, resigned as executive director of Pallinghurst, with his responsibilities to be absorbed by the other executive directors on the board. 

Geomysore’s Jonnagiri has potential to be India’s first private gold mine

By: Mariaan Webb     16th November 2017 Gold firm Geomysore Services India, in which Aim-listed Lionsgold has a 21.15% shareholding, has completed a feasibility study for the Jonnagiri gold project, demonstrating the project’s potential to be developed into India’s first privately-owned gold mine. The Jonnagiri project, in the state of... 

Eskom’s ‘business-as-usual’ tariff application comes under fire

By: Terence Creamer     16th November 2017 The “business as usual” stance adopted by Eskom in its application for a 19.9% increase in tariffs for 2018/19 came under sustained attack during the Gauteng leg of the National Energy Regulator of South Africa’s (Nersa’s) public hearings on Thursday. Eskom interim CEO Sean Maritz kicked off the... 

Eskom’s ‘business-as-usual’ tariff application comes under fire
Photo by Duane Daws
Nersa's Chris Forlee, Khomotso Mthimunye, Mbulelo Ncetezo, Jacob Modise and Nomfundo Maseti

Kibo upgrades MCPP MoU

By: Anine Kilian     16th November 2017 Aim-listed minerals and exploration development company Kibo Energy has upgraded its existing Memorandum of Understanding (MoU) with the Tanzania Ministry of Energy and the Tanzania Electric Supply Company (Tanesco), regarding a power purchase agreement (PPA) for the development and... 

DRC State mining company under fire 

     16th November 2017 Certain revenues of the Democratic Republic of Congo State mining company have not been directed to the public treasury and are largely beyond the realm of public oversight, claims a report by the Carter Centre. Mining Weekly editor Martin Creamer joins senior deputy editor Tracy Hancock in... 

DRC State mining company under fire

Atalaya encouraged by positive copper expansion study

By: Mariaan Webb     16th November 2017 The expansion of the Proyecto Riotinto copper mine in Andalucía, Spain, is “technically and financially robust”, a study into the feasibility of increasing capacity beyond 9.5-million tonnes a year has found. Dual-listed Atalaya Mining reported on Thursday that it had completed the study, which... 

Atalaya encouraged by positive copper expansion study
The Proyecto Riotinto mine.

Orion initiates hitech regional exploration in Northern Cape

By: Martin Creamer     16th November 2017 Sydney- and Johannesburg-listed company Orion Minerals will from November 26 initiate an airborne survey across a large area of South Africa’s Northern Cape as part of a regional exploration programme that will make use of the latest available technology in an area last explored in the 1980s.... 

Orion initiates hitech regional exploration in Northern Cape
A SkyTEM survey operation.

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