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Anglo American achieves strong Q1 operational performance

By: Megan van Wyngaardt     24th April 2017 Diversified major Anglo American, led by CEO Mark Cutifani, posted a strong operational performance in the quarter ended March 31, with higher output achieved for most of its products, except copper and nickel. South African coal production increased 9% to five-million tonnes in the first quarter... 

Anglo American achieves strong Q1 operational performance
CEO Mark Cutifani

Improved mine productivity drives Sishen's Q1 production up 31%

By: Anine Kilian     24th April 2017 Improved mining productivity contributed to a 31% year-on-year increase in the Sishen mine’s output for the quarter ended March 31, to 7.7-million tonnes. “Production, however, decreased 10% [year-on-year] as the fourth quarter of 2016 benefitted from greater access to low strip ratio ore. Waste... 

Amplats’ Q1 output up 1% y/y

By: Anine Kilian     24th April 2017 A strong performance by its Mogalakwena mine has contributed to a 1% year-on-year increase in JSE-listed Anglo American Platinum’s (Amplats’) production to 571 900 oz for the quarter ended March 31. Mogalakwena’s output rose 3% year-on-year to 111 900 oz, with strong plant recoveries and... 

De Beers achieves 8% y/y increase in Q1 diamond output

By: Megan van Wyngaardt     24th April 2017 Diamond giant De Beers’ rough diamond production increased by 8% to 7.4-million carats in the first quarter of the year, reflecting the contribution of the Gahcho Kué mine, in Canada. The joint venture mine reached commercial production on March 2 and contributed 600 000 ct to De Beers’... 

Diamond production at Petra’s operations flat during rainy season

By: Megan van Wyngaardt     24th April 2017 LSE-listed Petra Diamonds’ production of 999 768 ct for the third quarter, ended March 31, was only marginally higher than the 995 905 ct it produced in the same quarter of 2016. However, run-of-mine (RoM) production for the quarter increased 18% to 760 916 ct, as RoM grades improved owing to the... 

Tongon permit review confirms opportunities to extend mine life

By: David Oliveira     24th April 2017 A review of Africa-focused gold producer Randgold Resources’ Nielle permit, which hosts the company’s Tongon mine, in Côte d’Ivoire, has confirmed a number of opportunities to extend the life of the operation beyond the current four-year projection, company CEO Mark Bristow said during a site... 

Tongon permit review confirms opportunities to extend mine life
Photo by Duane Daws
Randgold Resources CEO Mark Bristow

Tegeta coal prepayment not a loan says Eskom

By: News24Wire      22nd April 2017 The over R600-million Eskom paid to Tegeta, a company in which the Gupta family has interests, was not a loan, but a prepayment, the state-owned power utility said on Saturday. Eskom also wanted it made clear that Tegeta honoured its side of the agreement by delivering all the pre-paid coal,... 

Congo nears Eskom power-supply contract to boost copper output

By: Bloomberg     24th April 2017 The Democratic Republic of Congo (DRC) signed a provisional agreement to import power from South Africa that could boost copper production this year by as much as 20%, according to the country’s chamber of mines. State-owned power company SNEL proposed importing 200 MW from South African utility... 

Syrah awards logistics contract to Grindrod

By: Esmarie Swanepoel     24th April 2017 Graphite developer Syrah Resources has awarded the graphite distribution and logistics services supply contract at its Balama project, in Mozambique, to JSE-listed Grindrod Mauritius. The contract includes the provision of long haul trucking services for graphite concentrate from the Balama site... 

Tanzanian graphite project proves positive for Black Rock

By: Esmarie Swanepoel     24th April 2017 A prefeasibility study (PFS) into the Mahenge graphite project, in Tanzania, has estimated that the project cold produce some 167 000 t/y of high purity graphite over a mine life of 32 years. ASX-listed Black Rock Mining said on Monday that the project will require a capital investment of some... 

Conflict-free cobalt to remain industry question, opportunity as DRC dominates supply

By: Henry Lazenby     22nd April 2017 Sourcing conflict-free cobalt for application in new technologies, such as lithium-ion batteries, will remain both a concern and an opportunity for manufacturers for years to come, as production is dominated by the politically unstable Democratic Republic of Congo (DRC). The Central African... 

Strengthening fundamentals continue to bolster ‘new age’ metals outlook

By: Henry Lazenby     22nd April 2017 ‘Big money’ investors are increasingly looking to invest in the relatively small ‘new-age metals’ space, comprising metals such as lithium, graphite and cobalt, as strengthening fundamentals for these minerals and an unprecedented high-impact investment opportunity draw the potential for bonanza... 

Strengthening fundamentals continue to bolster ‘new age’ metals outlook

Hummingbird’s Yanfolila gearing up for production

By: Anine Kilian     24th April 2017 The development of Aim-listed Hummingbird Resources’ Mali-based Yanfolila mine is progressing on time and within budget. The company on Monday said structural, mechanical, plate work and piping work have been under way for over three months, while the plant foundations largely complete. 

Metanor gains Kirkland Lake as strategic investor as it closes $8.85m placement

By: Mariaan Webb     24th April 2017 Project developer Metanor Resources has gained mid-tier gold miner Kirkland Lake Gold as a strategic investor, the company disclosed on Monday as it announced the closing of a private placement to raise funds for its Bachelor and Barry projects, in Quebec. Kirkland Lake acquired 10 357 143 units... 

Jan Nelson heading up copper explorer

By: Mariaan Webb     24th April 2017 Former Xtract Resources and Pan African Resources CEO Jan Nelson has joined Handa Copper – a TSX-V-listed company focusing on prospects in Africa – as CEO. Nelson, who quit as Aim-listed Xtract CEO in September last year, will head up the exploration company’s new management team, which will be... 

Competition Commission approves buyout of ASA Metals' ferrochrome production assets

By: Megan van Wyngaardt     24th April 2017 The Competition Commission has recommended that the Competition Tribunal approve the proposed merger between ferrochrome producer ASA Metals and Newco. Newco is a newly created joint venture between Sinosteel and Samancor. Sinosteel operates globally in the production, supply and procurement of a... 

Gold and bullion miners tumble as French vote cuts haven demand

By: Bloomberg     24th April 2017 Gold dropped to a two-week low and bullion mining stocks sank the most in more than a year as investors favoured riskier assets on expectation that Emmanuel Macron will become France’s next president. The metal slipped as much as 1.5% and South African gold miners plunged as much as 8.7% after... 

Gold and bullion miners tumble as French vote cuts haven demand

NLC puts overseas acquisitions on the backburner after acquiring domestic coal blocks

By: Ajoy K Das     24th April 2017 Having secured three coal blocks through the preferential allocation dispensation for government companies, NLC Limited (formerly Neyveli Lignite Corporation) has abandoned plans for overseas acquisition of coal assets. NLC has been allocated two coal blocks in the eastern Indian province of... 

Japan steel industry head says concerned at Trump 'protectionism'

By: Reuters     24th April 2017 Japanese steelmakers are concerned at "protectionism" by US President Donald Trump, Japan Iron and Steel Federation chairperson Kosei Shindo said on Monday, following Trump's first shot across China's bows over steel exports. Japan is the world's second-largest steel producer, although Shindo... 

Japan steelmakers scramble for coking coal to make up Debbie losses

By: Reuters     24th April 2017 Japanese steelmakers have bought coking coal from the US, Canada and China to replace supply lost after a cyclone closed rail links in Australia, their biggest supplier, industry and trader sources said. Still, the Japanese buyers are paying nearly double the $150/t price that they were... 

Chevron’s A$340m tax bill appeal in Australia dismissed

By: Esmarie Swanepoel     24th April 2017 The federal government has welcomed a Full Federal Court decision to dismiss oil and gas giant Chevron’s appeal of a A$340-million Australian Taxation Office (ATO) bill. The court dismissed Chevron’s appeal against an ATO ruling that the US giant had used an intra-company loan as a means to shift... 

Chevron’s A$340m tax bill appeal in Australia dismissed

Saracen revises terms for Bundarra buy

By: Esmarie Swanepoel     24th April 2017 Gold miner Saracen Mineral Holdings has amended the terms of its proposed acquisition of fellow ASX-listed Bligh Resources’ Bundarra gold project, in Western Australia, after Zeta Resources last week launched a cash takeover for Bligh. Saracen was to buy Bligh’s interest in the Bundarra gold... 

Syndicated sells Barbara copper project to JV partner

By: Esmarie Swanepoel     24th April 2017 ASX-listed Syndicated Metals has agreed to sell its 50% interest in the Barbara copper project, in north Queensland, to its joint venture partner CopperChem for A$2.3-million in cash and a net smelter royalty of between 1% and 2% on the first 10 000 t of copper-in-concentrate produced, subject to... 

Kingsrose production up by 88%

By: Esmarie Swanepoel     24th April 2017 Embattled gold miner Kingsrose Mining has reported an 88% increase in gold production during the March quarter, compared with the previous quarter, as the company’s administrators worked to recover ounces. Gold production during the three months under review increased from 1 786 oz to 3 361 oz,... 

Trump's infrastructure plan a boon for iron-ore, says Australia's Cormann

By: Bloomberg     23rd April 2017 US President Donald Trump’s plan to upgrade the nation’s roads, ports and bridges will drive demand for steel and support iron ore prices, Australia’s Finance Minister Mathias Cormann said. “The US and the Trump administration has put out a very ambitious infrastructure investment program" and... 

Trump's infrastructure plan a boon for iron-ore, says Australia's Cormann

Freeport collects export permit after Pence visit

By: Reuters     23rd April 2017 Freeport McMoRan collected a permit to resume copper exports from Indonesia on Friday after a hiatus of more than three months, hours after a state visit by US Vice President Mike Pence, who discussed the copper miner's dispute with Jakarta. Indonesia's Trade Ministry issued Freeport with a... 

Freeport collects export permit after Pence visit
US Vice President Mike Pence and Indonesian President Joko Widodo

Chamberlain chosen as LME chief with mandate to reform

By: Reuters     22nd April 2017 Matt Chamberlain was named London Metal Exchange (LME) chief executive on Friday, with a mandate from its owner the Hong Kong bourse to reform the world's largest and oldest metals market. Chamberlain, 35, had been acting CEO since January, when a combination of falling trading volumes and a... 

Argentina mulls $500m safety plan for Barrick's Veladero mine

By: Reuters     22nd April 2017 Barrick Gold and its new Chinese partner presented a $500-million plan on Friday to make safety and environmental improvements to the Veladero gold mine, in Argentina, after a third cyanide spill in 18 months, a company executive said. Argentina told Barrick earlier this month it had to overhaul... 

Rockwell seeks move to TSX-V listing

By: Megan van Wyngaardt     21st April 2017 Embattled Rockwell Diamonds, which earlier this week filed for business rescue, on Friday said it would seek to move its listing from the TSX to the TSX-V, owing to its current market capitalisation. The company said its shares on the TSX and JSE would remain halted while there remains... 

South Africa's Sibanye declares war on illegal gold miners

By: Reuters     21st April 2017 Illegal gold mining has plagued South Africa's mining companies for decades, robbing the industry and state coffers of billions of rand through smalltime pilfering as well as networks run by organised crime. Now, with unmined output dwindling and proving more diff cult to extract, one firm has... 

DMR to brief Western Cape communities on shale gas development

By: Megan van Wyngaardt     21st April 2017 Mineral Resources Deputy Minister Godfrey Oliphant will on Tuesday host an information-sharing session with interested and affected communities and organisations in the Western Cape on the potential of shale gas development through hydraulic fracturing, or fracking. The Deputy Minister will... 

Diamond miners have India in sight with Real is Rare slogan

By: Reuters     21st April 2017 The world's top diamond producers will try to spur demand in India with the launch of their "Real is Rare" slogan in September, after the withdrawal of high-value bank notes dented the world's third biggest diamond market. The marketing slogan was launched in the United States in 2016 by the... 

Vedanta's Black Mountain Mining sets up 7-year Esop

By: Megan van Wyngaardt     21st April 2017 Black Mountain Mining (BMM), a subsidiary of LSE-listed Vedanta’s Zinc International business, has established a seven-year employee share ownership plan (Esop), with 6% of BMM’s shares issued to an employee-held trust on April 1. The Esop was established following talks with the National Union... 

AfDB to review development of Senegalese power plant after complaints 

By: Megan van Wyngaardt     21st April 2017 The African Development Bank (AfDB) will review compliance eligibility at the €206-million, 125 MW Sendou coal-fired power plant project, in Senegal, following several community complaints. Two groups raised eight similar issues with the bank, including an unviable government policy option to use... 

Armadale receives encouraging results for graphite project

By: Megan van Wyngaardt     21st April 2017 Initial testwork at Armadale’s Mahenge Liandu graphite project, in Tanzania, continue sto indicate that it is capable of producing high-quality graphite concentrates, with possible expansion up to 480 cm³/g. The Aim-listed company said the results further increase the range of potential... 

Shanta reports higher Q1 production, improved margins

By: Mia Breytenbach     21st April 2017 Aim-listed Shanta Gold’s New Luika mine, in Tanzania, produced 20 416 oz of gold in the quarter ended March 31, improving the company’s margins and keeping it on track to meet its 2017 guidance. “Shanta had a promising start to the financial year with more ounces produced, at a greater margin... 

BMI expects gradual price recovery for industrial metals

By: Megan van Wyngaardt     21st April 2017 Since bottoming out in early 2016 and staging an impressive, albeit largely speculative, rally over the past year and a half, industrial metals will experience a gradual price recovery over the coming years, as improving fundamentals support a stabilisation, rather than rebound, in prices,... 

Reservations expressed about India’s proposed rules for commercial coal mining auctions

By: Ajoy K Das     21st April 2017 As the government readies to open commercial coal mining to private miners for the first time since 1973, prospective private investors have raised reservations about the terms and conditions laid down by the Coal Ministry. According to minutes of a meeting between the Coal Ministry and... 

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