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Latest News

Probe into influence peddling to start hearings in August

By: Reuters     Updated 4 hours ago An inquiry into allegations of influence peddling revolving around former president Jacob Zuma and businessman friends of his will begin formal public hearings in August and could take two years or more, the head of the commission said on Thursday. The allegations around Zuma, forced from office... 

Polyus sees 2018 production at upper end of guided range

By: Reuters     Updated 4 hours ago Polyus, Russia's largest gold producer, said on Thursday its 2018 production was likely to be at the upper end of the forecast range of 2.375-million to 2.425-million troy ounces. Speaking on the sidelines of the St Petersburg economic forum, Polyus CEO Pavel Grachev also said the company's... 

Semafo signs mining services contract with AUMS

By: Creamer Media Reporter      Updated 4 hours ago TSX-listed Semafo has signed a mining services contract with African Underground Mining Services (AUMS) for the Siou underground mine, in Burkina Faso. AUMS will be responsible for supplying the mining fleet and a skilled labour force for the Siou underground mine, in addition to providing... 

IronRidge appoints new chairperson

By: Anine Kilian     Updated 5 hours ago Neil Herbert has been appointed nonexecutive chairperson of Aim-listed IronRidge Resources with immediate effect. He succeeds Nick Mather, who will remain on the board as a nonexecutive director. 

Signet joins De Beers' Tracr blockchain platform pilot

By: Anine Kilian     Updated 5 hours ago Signet Jewelers will become the first retailer to join De Beers Group's end-to-end diamond blockchain pilot programme, known as Tracr. Tracr aims to complete the first digital link all the way from diamond production through to retail. 

Katoro reaffirms mining potential at Imweru

By: Anine Kilian     Updated 5 hours ago Aim-listed Katoro Gold on Thursday confirmed that there was good upside potential for the further development of its Imweru gold project, in Tanzania. The company assessed the economic viability of the project, based on the results of a prefeasibility study and the new mining legislation and... 

Pan African completes commissioning of Barberton regrind mill, Elikhulu to pour first gold in August

By: Simone Liedtke     Updated 5 hours ago The commissioning of Pan African Resources’ Barberton Mines Tailings Retreatment Plant (BTRP) regrind mill will be completed this week, on schedule and on budget. The gold producer on Thursday said BTRP is expected to reach an annualised gold production of 21 000 oz in the next month. 

Resources Watch  

Updated 6 hours ago Learning opportunity on mining training’s competitive edge And, consolidation needed to save jobs 

Resources Watch
Resources Watch

Petra’s shares fall on $178m proposed rights issue

By: Simone Liedtke     Updated 6 hours ago Petra Diamonds’ share price on the LSE fell by more than 20% on Thursday after it announced plans to raise $178-milion, or about £133-million, through a fully underwritten 5 for 8 rights issue. The diamond miner, which has operations in South Africa and Tanzania, said its cash flow generation... 

Petra’s shares fall on $178m proposed rights issue
Photo by Creamer Media
Petra Diamonds CEO Johan Dippenaar

Jet engines help power cobalt to 10-year highs

By: Reuters     Updated 6 hours ago The spotlight in the cobalt market has been fixed on electric vehicles but shrinking supply and robust demand from traditional sectors such as jet engine makers are helping fuel a price rally that shows no signs of fading. Cobalt in recent years has become synonymous with electric vehicles as it... 

Northam ups funding capacity as stockpile monetisation ensues

By: Martin Creamer     Updated 7 hours ago Platinum mining company Northam has increased its funding capacity to tide it over a capital intensive development period. A new R1-billion two-year unsecured revolving credit facility to April 2020 is augmenting a previous R2-billion unsecured revolving credit facility to November 2021, taking... 

Northam ups funding capacity as stockpile monetisation ensues
Photo by Creamer Media
Northam Platinum CEO Paul Dunne

Anglo Asian copper, gold, silver miner moots maiden dividend

By: Reuters     24th May 2018 Anglo Asian Mining, which focuses on copper, gold and silver mining in Azerbaijan, said on Thursday it was considering paying its first dividend now that it had reported a profit, cut debt and built up cash. A dividend would set Anglo Asian apart from many London-listed junior miners, which... 

Copper miner Atalaya's Q1 profit jumps 54%

By: Mariaan Webb     24th May 2018 Copper miner Atalaya Mining has posted a 54% increase in its first-quarter profit, on the back of stronger copper prices and an increase in concentrate volumes sold. After-tax profit increased from €5.7-million, or 4.8c a share, in the first quarter of 2017, to €8.8-million, 6.5c a share, in... 

Copper miner Atalaya's Q1 profit jumps 54%
Proyecto Riotinto

Indian thermal power plants reeling from coal shortages

By: Ajoy K Das     24th May 2018 Private and public thermal power plants across India are facing an acute shortage of coal, at a time when rising electricity demand during summer months has sent the spot price of electricity skyrocketing. According to data sourced from industry policy advisory body, the Central Electricity... 

Western Australia to formulate lithium and energy materials strategy

By: Esmarie Swanepoel     24th May 2018 The Western Australian government has announced the formation of a taskforce to capitalise on the region’s lithium and energy material potential. The taskforce will oversee development of a Lithium and Energy Materials Strategy to build on Western Australia's competitive advantages, and to... 

ABx separates Alcore into own entity, lowers capex forecast

By: Esmarie Swanepoel     24th May 2018 Bauxite producer Australian Bauxite (ABx) on Thursday announced that it would develop its Stage 1 Alcore pilot plant project, in New South Wales, through a new wholly owned subsidiary Alcore. A previous engineering and cost study on the Stage 1 project estimated that a capital investment of... 

EU starts new investigation into steel imports from China

By: Reuters     24th May 2018 The European Commission has opened an investigation into hot-rolled steel sheet piles imported from China to determine whether they are being dumped in Europe, according to a notice in the EU Official Journal on Thursday. The investigation into a form of steel used in construction was launched... 

Mining’s share of total project work in Queensland falling

By: Esmarie Swanepoel     24th May 2018 While the Queensland Major Projects Pipeline Report has shown a 58% increase in major project work during 2017/18, private sector investment, particularly in the mining sector, is falling. The report, compiled by the Queensland Major Contractors Association, Construction Skills Queensland and... 

Mining’s share of total project work in Queensland falling

Mantashe vows to finalise mining charter in June

By: African News Agency      24th May 2018 South African minister of mineral resources Gwede Mantashe said on Thursday his department plans to finalise the revamped mining charter, the government's regulation tool for transformation, by the end of next month. "We aim to finalise and gazette the mining charter in June, having taken onboard... 

Mantashe vows to finalise mining charter in June
Photo by Creamer Media
Mineral Resources Minister Gwede Mantashe

PanTerra pursues $25m damages claim against Dominican govt

By: Esmarie Swanepoel     24th May 2018 ASX-listed PanTerra Gold on Thursday told shareholders that it would pursue up to $25-million in damages from the Dominican government, over allegations that the government failed to meet its contractual obligations at the Las Lagunas tailings dam project. The Las Lagunas project involves the... 

Hillgrove restarts Kanmantoo plant

By: Esmarie Swanepoel     24th May 2018 Copper/gold miner Hillgrove Resources has resumed processing at its Kanmantoo operation, after a mechanical failure earlier in the month resulted in a temporary stoppage in production. Hillgrove undertook work to replace a failed bearing, with the company telling shareholders on Thursday that... 

DGO raises cash to fund De Grey deal

By: Esmarie Swanepoel     24th May 2018 ASX-listed DGO Gold will raise between A$4.4-million and A$5.9-million through a one-for-two entitlement offer. The offer will be priced at 75c a share, which represented a 3.5% discount to DGO’s closing price for the five days prior to May 23. 

Origin sells metering business

By: Esmarie Swanepoel     24th May 2018 Integrated energy company Origin Energy will sell its metering business, Acumen, for A$267-million to intelliHub. ASX-listed Origin said on Thursday that it has also committed to a competitive long-term agreement with Acumen for the ongoing deployment and management of digital meters for its... 

Australian gold miners to benefit from new technology

By: Esmarie Swanepoel     24th May 2018 Australian gold miners are set to benefit from new technology being deployed by mining services company Ausdrill, in Western Australia. Ausdrill, through its subsidiary MinAnalytical, has installed a Chrysos photon assay machine at its facility, which will reduce the time to analyse a drilling... 

Spitfire takes hold of Mulwarrie

By: Esmarie Swanepoel     24th May 2018 ASX-listed Spitfire Materials will acquire the remaining 49% interest in the Mulwarrie gold project, in Western Australia, taking full ownership of the operation. Spitfire will issue the vendors some 10-million fully paid ordinary shares, which will be voluntarily escrowed for 12 months, as... 

Vital finds visible gold in Niger

By: Esmarie Swanepoel     24th May 2018 The share price of ASX-listed explorer Vital Metals increased by nearly 13% on Thursday, after the company reported visible gold at its Bella Tondi prospect, at the Bouli gold project in Niger. MD Mark Strizek told shareholders that visible gold was delivered from one of the drill holes at the... 

Oz extends Avanco takeover

By: Esmarie Swanepoel     24th May 2018 Copper/gold miner Oz Minerals has extended its takeover offer period for fellow-listed Avanco Resources until June 14. Oz Minerals is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418-million. 

Rusal warns on ability to operate from October as CEO quits

By: Bloomberg     24th May 2018 United Co Rusal’s CEO resigned after less than three months in the role, as the Russian firm warned that trade partners and international lenders could cut ties with the company if US sanctions aren’t lifted after October 23. The world’s biggest aluminum producer outside China also said the... 

Rusal warns on ability to operate from October as CEO quits

Chile high court declines to weigh in on lithium spat at Maricunga

By: Reuters     24th May 2018 Chile's constitutional court said it would not get involved in a dispute between a foreign-backed miner and state-run copper miner Codelco over adjoining lithium deposits in the Maricunga salt flat, according to a court document seen by Reuters on Wednesday. Salar Blanco, 50%-owned by... 

Global copper surplus falls 12.8% to 110 000 t

By: Henry Lazenby     24th May 2018 The global refined copper balance for the first two months of this year indicates a surplus of about 110 000 t, a 12.8% drop year-on-year, the International Copper Study Group has found. The Lisbon, Portugal-based think tank said apparent refined demand increased 3.9% year-on-year to 3.77-million... 

Optimistic diamond price outlook could underpin a return to profit, dividends – Zimnisky

By: Henry Lazenby     24th May 2018 Absent any significant global economic disturbances disrupting consumer diamond demand, incremental year-on-year diamond production declines are forecast to drive real diamond prices up by about 10% cumulatively from 2018 through 2021, or 17% in nominal terms, a new report by independent analyst... 

Optimistic diamond price outlook could underpin a return to profit, dividends – Zimnisky

Copper shortfall expected – Antofagasta CEO

By: Henry Lazenby     24th May 2018 London-based base metals company Antofagasta said on Wednesday it expects a shortfall of copper to emerge because of the slow rate at which new mines are permitted and built. Antofagasta chairperson Jean-Paul Luksic said at the company's annual general meeting that the emergence of new sources of... 

Advantage Lithium reports six-fold resource upgrade at Cauchari

By: Henry Lazenby     24th May 2018 The TSX-listed equity of explorer Advantage Lithium rose more than 7% on Wednesday after it reported a six-fold resource increase at the Cauchari joint venture (JV), in Argentina. The Vancouver-based company reported a three-million-tonne inferred resource that comprise the northwest and... 

Advantage Lithium reports six-fold resource upgrade at Cauchari
Photo by Advantage Lithium
Cauchari, Argentina

Euro Sun says Rovina Valley mining licence working its way through Romania govt

By: Henry Lazenby     24th May 2018 TSX-listed project developer Euro Sun Mining reported on Wednesday that the mining licence for its flagship Rovina Valley copper/gold project, in Romania, is working its way through government, with the National Agency for Mineral Resources and the Secretary General of Government (SGG) having... 

Cobalt streaming may presage bigger deals as Vale weighs options

By: Bloomberg     23rd May 2018 A streaming deal for cobalt and nickel from a mine in Papua New Guinea may foreshadow other similar arrangements as producers look to capitalise on the battery-commodity boom to raise cash for investments. On Tuesday, Cobalt 27 Capital – a Toronto-listed vehicle designed to invest in the metal –... 

Coega perfectly poised to participate in lithium-ion battery industry – CDC

By: Simone Liedtke     23rd May 2018 The Coega Special Economic Zone (SEZ) is at an advanced stage of setting up factories that will supply gigawatt factories with manganese, a key ingredient in most lithium-ion batteries. Coega Development Corporation (CDC) business development metallurgic sector manager Sadick Davids says the SEZ... 

Newly named Minerals Council South Africa welcomes board members

By: Nadine James     23rd May 2018 Minerals Council South Africa (MCSA) president Mxolisi Mgojo noted that all of the council’s previous office bearers had been re-elected at the 128th annual general meeting. During his address, Mgojo thanked Kalagadi Manganese chairperson Daphne Mashile-Nkosi, who retired from MCSA board duties... 

Mantashe considers invoking ‘use it or lose it’ principle for mines under care and maintenance

By: Nadine James     23rd May 2018 Speaking at the official unveiling of the rebranded Minerals Council South Africa (previously the Chamber of Mines), on Wednesday, Mineral Resources Minister Gwede Mantashe noted that he and the Department of Mineral Resources (DMR) were unenthusiastic, but willing to make use of the 'use it or... 

Mantashe considers invoking ‘use it or lose it’ principle for mines under care and maintenance
Photo by Dylan Slater
Mineral Resources Minister Gwede Mantashe
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