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Azure cashed up for exploration - MD

By: Esmarie Swanepoel     Updated 40 minutes ago Despite having a busy exploration schedule at its Mexico projects in 2015, ASX-listed junior Azure Minerals would have no need to tap capital markets, MD Tony Rovira said this week. Speaking to Mining Weekly Online, Rovira noted that a March share purchase plan had resulted in about... 

Implats surges ahead with platinum fuel cell power

By: Martin Creamer     Updated 58 minutes ago Impala Platinum (Implats) CEO Terence Goodlace is championing the marketing of platinum by surging ahead with plans to use platinum fuel cells to produce electricity at the Implats platinum refinery in Springs, on Gauteng’s East Rand. JSE-listed Implats, which is heavily supported by the strong... 

Implats surges ahead with platinum fuel cell power
Photo by Duane Daws
Terence Goodlace

Productivity Commission cautions against gas reservation policies

By: Esmarie Swanepoel     Updated 1 hour 54 minutes ago The Australian Petroleum Production & Exploration Association (Appea) has called for the withdrawal of market interventions such as domestic gas reservation policies, after the Productivity Commission released a report stating that such measures were unlikely to be effective or efficient in the... 

Productivity Commission cautions against gas reservation policies

Triton soars on $2bn offtake deal

By: Esmarie Swanepoel     Updated 2 hours 2 minutes ago The share price of graphite hopeful Triton Minerals soared by nearly 65% on Wednesday, as the company announced that it had signed a binding offtake agreement worth $2-billion. Under the terms of an agreement inked with China’s Yichang Xincheng Graphite Company, Triton would supply 100 000 t/y... 

Sandfire moves to restructure debt

By: Esmarie Swanepoel     Updated 2 hours 3 minutes ago Copper/gold miner Sandfire Resources has amended the repayment schedule for its DeGrussa project finance facility with financier ANZ Banking Corporation. Following a A$5-million repayment at the end of March this year, the current balance of the DeGrussa project facility would reduce to... 

BC Iron takes up govt royalty offer

By: Esmarie Swanepoel     Updated 2 hours 7 minutes ago The Western Australian state government has granted iron-ore miner BC Iron royalty assistance at its Nullagine joint venture. The assistance would be in the form of a deferral of 50% of the iron-ore royalties paid between December 2014 and September 2015, subject to BC Iron’s free-on-board price... 

Millennium completes Beaton Creek sale

By: Esmarie Swanepoel     Updated 2 hours 8 minutes ago Gold miner Millennium Minerals has completed the sale of its Beatons Creek tenements, in Western Australia, with the company receiving the asking price of A$3.8-million and the necessary consent for the transfer of assets. In March, Millennium announced the divestment of the Beatons Creek... 

Balamara readies for ASX withdraw

By: Esmarie Swanepoel     Updated 2 hours 9 minutes ago Coal developer Balamara Resources has received all the necessary approvals to cease share trading on the ASX, with the company expecting to halt trading by May 1. The Poland-focused developer told shareholders this week that the company would trade as a public unlisted company. Once Balamara has... 

South Africa presidency receives 'Marikana massacre' inquiry report

By: Reuters     Updated 2 hours 9 minutes ago South Africa's presidency said on Tuesday it had received a report on an inquiry into the police shooting of 34 striking mine workers in 2012, the deadliest security action since the end of apartheid. The inquiry, headed by retired judge Ian Farlam, was set up by President Jacob Zuma to look into... 

South Africa presidency receives 'Marikana massacre' inquiry report

Segue gets JV partner for Pardoo

By: Esmarie Swanepoel     Updated 2 hours 11 minutes ago ASX-listed junior Segue Resources has inked a joint venture agreement that could result in Port Exploration acquiring a majority stake in the Pardoo project, in the Pilbara. Under the terms of the agreement, Port could acquire a 51% in the project area by spending A$250 000 on exploration,... 

Carpenter Technology to cut 200 jobs as weak oil prices hurt

By: Reuters Alloys maker Carpenter Technology said on Tuesday that it will cut about 10% of its salaried workforce, or 200 jobs, to reduce costs amid weak oil and gas prices. The company, which makes corrosion-resistant stainless steel, nickel-base and titanium alloys used in onshore and offshore fields,... 

Scotiabank’s commodity price index rallies in February as oil and gas rebound somewhat

By: Henry Lazenby The Bank of Nova Scotia’s ‘commodity price index’ rallied by 2.4% month-over-month in February, after falling in January to the lowest level since early 2007. The third-largest Canadian bank said on Tuesday that its ‘oil and gas index’ rebounded in February, with Alberta light- and heavy-crude... 

Scotiabank’s commodity price index rallies in February as oil and gas rebound somewhat

Brazil's Petrobras will not sell distribution arm – board member

By: Reuters Petrobras, Brazil's state-run oil company, will not sell its fuel distribution arm as part of its ongoing asset sale plan, company board member Silvio Sinedino said on Tuesday. In a live speech broadcast on Youtube, Sinedino said Aldemir Bendine, CEO of the company, officially Petroleo... 

Class action to proceed against Baja Mining

By: Henry Lazenby London, Ontario law firm Harrison Pensa is proceeding with a class action under the Class Proceedings Act, 1992, against Baja Mining Corp, certain of its former directors and officers and the company's auditor, PwC. The action alleged that from November 1, 2010, to April 23. 2012, the defendants... 

First Majestic completes new technical report for La Guitarra, Mexico

By: Henry Lazenby Mexico-focused miner First Majestic Silver has completed a new Canadian National Instrument 43-101-compliant technical report on its La Guitarra silver mine, in Mexico, which validated the reason the company bought the property from Silvermex Resources in 2012. President and CEO Keith Neumeyer... 

Atlatsa’s Bokoni mine achieves new production record

By: Megan van Wyngaardt Triple-listed Atlatsa Resources’ Bokoni mine, in South Africa, produced 194 036 platinum, palladium, gold and rhodium (4E) platinum-group metal (PGM) ounces in the 2014 financial year – a 13.9% increase on the 170 295 oz produced the year before. This was also the mine’s highest production since... 

DoE outlines next nuclear steps as it completes ‘pre-procurement phase’

By: Terence Creamer The Department of Energy (DoE) announced on Tuesday that the pre-procurement phase for South Africa’s proposed roll-out of a nuclear new build programme had been completed, following the latest in a series of workshops with vendor countries and their companies. Consultations had been held with... 

DoE outlines next nuclear steps as it completes ‘pre-procurement phase’
South Africa's only nuclear plant, Koeberg

Ncondezi receives extension from EdM

Aim-listed energy provider Ncondezi Energy has been granted an extension for meeting certain conditions relating to the conditional commercial deal signed between it and Electricidade de Moçambique (EdM) for its 300 MW power plant. Ncondezi was establishing an integrated thermal coal mine and... 

Boje steps down as Wescoal CEO

By: Natasha Odendaal JSE-listed Wescoal CEO and director Andre Bojé has resigned, effective April 14, after 18 years at the helm, the company announced on Tuesday. Wescoal appointed Waheed Sulaiman as acting CEO as the board this week starts the process of identifying a successor. 

Call for 1 000 MW platinum fuel cell commitment at chamber unveiling

By: Martin Creamer A call for platinum-rich South Africa to commit to 1 000 MW of platinum fuel cell-generated electricity by 2020 was made on Tuesday evening during the unveiling by Trade and Industry Minister Rob Davies of Africa’s first platinum fuel cell baseload power unit, which has been installed at the... 

Call for 1 000 MW platinum fuel cell commitment at chamber unveiling

Unnamed player eyes AngloGold’s Mali mines

By: Natasha Odendaal Dual-listed gold miner AngloGold Ashanti on Tuesday said it has received interest from an unnamed company for the buy-out of the gold miner’s stakes in its joint venture (JV) mines in Mali. AngloGold aimed to dispose of its 41% stake in Sadiola and its 40% stake in Yatela – both JV operations... 

Mining BEE ownership to be tested in court – Minister 

By: Martin Creamer Government, organised mining and organised labour have agreed to work collaboratively to obtain a court ruling on the crucial issue of black economic-empowerment (BEE) ownership of mines, the only sticking point of Tuesday’s Mining Charter deadline. In an interim announcement on the outcome of... 

Mining BEE ownership to be tested in court – Minister
Photo by Duane Daws
Minister Ngoako Ramatlhodi (centre), chamber's Mike Teke (left) and DMR DG Dr Thibedi Ramontja

De Beers starts three-year global sightholder sales contracts

By: Megan van Wyngaardt Diamond mining giant De Beers Group on Tuesday initiated the 2015 to 2018 global sightholder sales (GSS) contracts that required customers to provide group accounts in line with International Financial Reporting Standards (IFRS) consolidation standards. The new contract period has been designed... 

Shanta inks $40m loan facility

By: Natasha Odendaal LSE-listed Shanta Gold has secured a $40-million loan facility from the corporate and investment banking division of Investec Bank. The group, through its operating subsidiary Shanta Mining, would use one-half of the funds to refinance an existing bank loan from UK-based FBN Bank, with the... 

Sylvania’s Grasvally mineral resource at 64 900 t

Exploration work on the southern section of platinum processor and developer Sylvania Platinum’s Grasvally chrome project, in South Africa’s Bushveld Complex, has delivered a mineral resource of 64 900 t of high-grade chromite. Of the 64 900 t, 40.70% was chromium oxide (Cr2O3), with a... 

Kenmare, lenders agree to extend budget delivery date

Titanium minerals producer Kenmare Resources has extended the date for delivery of a budget to April 30. The company on Tuesday said its project lenders and banking firm Absa have made “substantial progress” towards agreeing the prinicipal terms of a further financing amendement for the company’s... 

IMF backs Zambia plan to end copper tax rows, warns on deficit

By: Reuters The International Monetary Fund on Tuesday applauded Zambia's efforts to resolve tax issues in its copper mining industry but warned that only further tightening of fiscal and monetary polices would contain the country's large deficits. President Edgar Lungu directed Zambia's finance and mining... 

Lower head grades cut FY output at Blanket mine

Production at dual-listed Caledonia Mining’s 49%-owned Blanket mine, in Zimbabwe, decreased to 10 417 oz in the quarter ended December 31, owing to a lower head grade. The mine had produced 11 429 oz in the fourth quarter of 2013. 

Creamer Media publishes Steel 2015: A review of South Africa's steel sector research report

By: Creamer Media Reporter Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon steel and stainless steel... 

Creamer Media publishes Steel 2015: A review of South Africa's steel sector research report

Tax breakthrough at Rio Tinto's Mongolia copper mine – source

By: Reuters Rio Tinto and Mongolia have made a breakthrough in a tax dispute that has been among issues stalling development of the $6.5-billion Oyu Tolgoi copper mine, according to an official familiar with the government's position. Disputes over costs and taxes have delayed an expansion of the mine that... 

KIOCL prodded to form alliances to participate in iron-ore auctions

By: Ajoy K Das India’s Steel Ministry has proposed that KIOCL, formerly Kudremukh Iron Ore Company Limited, should ally with other government-owned mineral and metal companies to bid for iron-ore resources. According to an official in the Steel Ministry, having been unsuccessful in securing captive iron-ore... 

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