R/€ = 15.46 Change: -0.02
R/$ = 13.28 Change: -0.01
Au 1227.43 $/oz Change: 4.18
Pt 819.50 $/oz Change: 10.77

Latest News

Chile's SQM seeks approval for $450m lithium plant expansion

By: Reuters     Updated 6 minutes ago Chilean miner SQM on Wednesday began the process of seeking government approval for a $450-million expansion of its lithium carbonate plant, which could more than double its production as demand rises for the key element in the manufacturing of batteries. SQM said in an environmental impact... 

Cameco following US uranium trade investigation ‘closely’

By: Mariaan Webb     Updated 17 minutes ago Canadian uranium major Cameco does not expect the Trump administration’s investigation into uranium imports to have an immediate impact on its shipments into the US, but the company’s president and CEO Tim Gitzel said he is following developments “very closely”. He affirmed that Cameco, which is... 

Cameco following US uranium trade investigation ‘closely’

Detour Gold denies Paulson’s report of potential sale, reports investor to OSC

By: Mariaan Webb     Updated 41 minutes ago A major gold mining company has reportedly approached Ontario miner Detour Gold about potentially acquiring the firm, sending its stock up 14% on the TSX on Wednesday. The revelation was made by institutional investor Paulson & Co, which also confirmed that it would go ahead with plans to... 

Detour Gold denies Paulson’s report of potential sale, reports investor to OSC
Detour Lake

Trudeau moves Sohi to Natural Resources, Carr to head up International Trade Diversification

By: Mariaan Webb     Updated 1 hour 41 minutes ago Canadian Prime Minister Justin Trudeau on Wednesday announced significant changes to his Cabinet, moving around several current Ministers, appointing four new ones and creating three new portfolios. Amarjeet Sohi has been moved from the Infrastructure portfolio to Natural Resources, succeeding... 

South Africa gold producers offer single-digit hikes

By: Reuters     Updated 7 hours ago South African gold producers have offered annual wage increases of around 5% to 6% over three years to most rank and file miners and up to 4.5% for more skilled workers, according to a document seen by Reuters. Gold producers have been giving above-inflation wage hikes for years, adding to the... 

URU continues with exploration at Limpopo project

By: Anine Kilian     Updated 7 hours ago The successful completion of a two-stage six-hole drill programme completed in 2017 on URU Metals’ Limpopo-based Zebediela nickel/platinum group element (PGE) project has resulted in mineralised intersections that exceeded the company's expectations. The company said in an update on Wednesday... 

US plans uranium import probe that may lead to tariffs

By: Bloomberg     18th July 2018 The Trump administration plans to open an investigation into whether uranium imports are harming national security, a move that could lead to tariffs on foreign shipments of the metal, said three people familiar with the matter. US uranium producers Energy Fuels and Ur-Energy filed a petition in... 

Greece shortlists Glencore, Vitol in Hellenic Petroleum majority stake sale

By: Reuters     18th July 2018 Greece has shortlisted Anglo-Swiss Glencore and Swiss Vitol to submit a binding bid for a majority stake in the country's biggest oil refiner Hellenic Petroleum, its privatisation agency said on Wednesday. Athens last month received five expressions of interest for a 50.1% stake that Greece and... 

Savannah enters into option to buy more ground in Portugal

By: Creamer Media Reporter      18th July 2018 Aim-listed Savannah Resources has entered into an exclusive due diligence and option agreement to acquire a three-block mining lease for lithium, feldspar and quartz, covering key areas of newly identified lithium pegmatite-bearing structural corridors adjacent to the company’s existing mining... 

Mining fund, junior mining and platinum make headiness  

18th July 2018 This week, Mining Weekly editor Martin Creamer discusses a new mining fund raising R750-million to co-finance ancillary mine projects, a beneficial innovative approach to junior mining promotion and, platinum is receiving a R2.6-billion boost. 

Mining fund, junior mining and platinum make headiness
Mining fund, junior mining and platinum make headiness

Tawana says completes demerger of 85% of shares in Cowan Lithium

By: African News Agency      18th July 2018 Australia-based mineral exploration company Tawana Resources said on Wednesday it had completed the demerger of 85% of the shares in Cowan Lithium Limited, holding the Cowan, Yallari and Mofe Creek assets. Tawana retained 15% of the total issued shares in Cowan Lithium. 

Evolution extends Mungari mine life with Castle Hill rights

By: Esmarie Swanepoel     18th July 2018 Gold miner Evolution Mining has reached an agreement with Norton Gold Fields to terminate its rights to mine and process ore from the Castle Hill deposit, in Western Australia. Evolution said on Wednesday that the agreement allowed the company to explore and develop an important package of... 

MOD consolidates ownership of Botswana’s T3 project

By: Esmarie Swanepoel     18th July 2018 ASX-listed MOD Resources has signed a binding agreement with its joint venture (JV) partner, Metal Tiger, to acquire its 30% interest in the T3 project, in Botswana, for A$26.6-million. MOD has also acquired the rights to purchase Metal Tiger’s 30% interest in all other JV exploration assets... 

BHP beats production expectations; warns of $650m Samarco charge

By: Esmarie Swanepoel     18th July 2018 Diversified giant BHP on Wednesday announced that the company had met or exceeded the production expectations for its commodities during the 2018 financial year, but warned of a $650-million financial impact related to the Samarco dam failure, in Brazil. “We have delivered a strong finish to the... 

BHP beats production expectations; warns of $650m Samarco charge
BHP CEO Andrew Mackenzie

Blackham reports 31% H1 production increase

By: Esmarie Swanepoel     18th July 2018 Western Australian gold producer Blackham Resources has reported record production for the six months to June, with 40 024 oz delivered. This was a 31% increase on the 30 541 oz delivered in the previous half-year, the miner said on Wednesday. 

Northern Star's record output beats expectations

By: Esmarie Swanepoel     18th July 2018 Gold miner Northern Star Resources has reported record production in the June quarter, with the company also exceeding its full-year guidance. Northern Star produced 183 949 oz of gold during the three months to June, with full-year production reported at 575 121 oz, exceeding the full-year... 

Mining to start at Matsa's Red Dog in early Aug

By: Esmarie Swanepoel     18th July 2018 ASX-listed junior Matsa Resources will start mining at its Red Dog gold project, in Western Australia, in early August. The company on Wednesday said that some 182 000 t of ore, grading 2.5 g/t gold will be recovered over the 16-week mining period, delivering around 13 400 oz of gold. 

Anova's Big Springs gold project up for sale

By: Esmarie Swanepoel     18th July 2018 Junior gold developer Anova Metals is looking for a buyer for its Big Springs gold project, in Nevada. “The board has decided to pursue a divestment for Big Springs. This will unlock significant value from the work undertaken at Big Springs over the past five years and will allow Anova to focus... 

Minjar Gold to process GBM's Mt Coolon ore

By: Esmarie Swanepoel     18th July 2018 ASX-listed GBM Resources has signed an ore sale and purchase agreement for its Mt Coolon gold project, in Queensland, with Minjar Gold. The agreement will see GBM mine ore at Mt Coolon, and then truck this ore to the Pajingo gold operation for processing, by Minjar. 

BHP awards A$176m South Flank bulk earthworks contract

By: Esmarie Swanepoel     18th July 2018 Mining services provider NRW Holdings has been awarded a A$176-million contract by mining major BHP for bulk earthworks and concrete works at the South Flank project, in the Pilbara. The South Flank operation will leverage and expand on the existing Mining Area C hub, and is BHP's preferred... 

Isaac Plains East to boost Stanmore output in FY19

By: Esmarie Swanepoel     18th July 2018 Coal miner Stanmore Coal has flagged a targeted 50% increase in production for the 2019 financial year, compared with 2018, following the start of the Isaac Plains East operation. The project, which started operations in June, is expected to deliver its first coal in August. 

Citi sees 'copper on steroids' as Trump slump masks shortage

By: Bloomberg     18th July 2018 Copper’s slump amid a deepening global trade conflict offers a long-term buying opportunity, according to Citigroup, which shrugged off fears for world growth to boost its long-term forecasts. “Prepare for a decade of Dr Copper on steroids,” analysts including Max Layton and Tracy Liao wrote in a... 

Guinea's mining minister says there will be Simandou deal, talks go on

By: Reuters     18th July 2018 Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. Rio Tinto said in October 2016 said it had signed an outline agreement to sell its major stake... 

Minerals Council says gold sector is facing 'serious challenges'

By: African News Agency      18th July 2018 The Minerals Council South Africa, formerly the Chamber of Mines, said on Wednesday that the mining industry continued to face major challenges despite the gold sector remaining a significant contributor to the South African economy and its people. This as wage negotiations between four of the... 

Minerals Council says gold sector is facing 'serious challenges'

Iron-ore beats back bears as trade fight batters commodities

By: Bloomberg     18th July 2018 Iron-ore’s become the odd man out as a spike in global trade tensions hurts commodities, with importers in top user China scooping up cargoes to feed booming mills and the government intensifying an anti-pollution drive. That’s helped benchmark prices to stay the course. While copper in London is... 

Iron-ore beats back bears as trade fight batters commodities

Shanta continues drilling programme in Tanzania

By: Anine Kilian     18th July 2018 Aim-listed Shanta Gold has drilled four new high-grade intersections as part of the Phase 1 drilling campaign at its Tanzania-based Bauhinia Creek East underground mine.    The new high-grade intersections are situated at depth and to the east of the historical exploration drill hole CSD063,... 

Serbia seeks investors for copper mine

By: Reuters     18th July 2018 Serbia published a tender on Wednesday looking for a strategic partner to invest $350-million in its ailing copper mine and smelter RTB Bor. In a tender published in the Politika daily, the Economy Ministry did not say how big a stake it would give to the partner in return for its investment. 

Berkeley becomes Spain's only listed mining firm

By: Creamer Media Reporter      18th July 2018 Uranium project developer Berkeley Energia has ticked all the boxes for the listing of its issued ordinary shares on the Madrid, Barcelona, Bilbao and Valencia stock exchanges and is now the only listed mining firm in Spain. Admission to the Spanish exchanges will be effective from Wednesday,... 

Berkeley becomes Spain's only listed mining firm

Inca One buys Peru mill from Equinox Gold in ‘transformative acquisition’

By: Mariaan Webb     17th July 2018 TSX-V-listed Inca One on Tuesday announced a “transformative acquisition” which CEO Edward Kelly said would elevate the company from a small producer to a major player among publically traded gold processing companies. Inca One has entered into a definitive purchase agreement to acquire 100%... 

Newmont’s $69m Northwest Exodus expansion project complete

By: Simone Liedtke     17th July 2018 US gold miner Newmont Mining has completed a $69-million expansion at its Exodus operation, adding ten more years of operations to the underground mine at the integrated Carlin mining operation in Nevada. The Northwest Exodus project was completed ahead of schedule and within budget, Newmont... 

Newmont’s $69m Northwest Exodus expansion project complete

Kenmare Q2 production in line with expectations, reduces debt

By: Simone Liedtke     17th July 2018 LSE-listed mineral sands producer Kenmare Resources produced 377 900 t of heavy mineral concentrate (HMC) in the second quarter ended June 30, a 5% increase on the 359 200 t produced in the first quarter of the year, in line with expectations. Ilmenite production for the second quarter was 238... 

LME to launch monthly 'implied pricing' to attract funds

By: Reuters     17th July 2018 The London Metal Exchange (LME) will launch a new set of synthetic monthly prices to make it easier for investors and funds to invest in base metals as the LME battles competition from other exchanges such as those operated by CME Group Inc.. The world's oldest and largest market for industrial... 

Union calls for mine bosses to be prosecuted for deaths of mineworkers

By: African News Agency      17th July 2018 The National Union of Metalworkers of South Africa (Numsa) on Tuesday called for mine bosses to be prosecuted for the deaths of six miners in Limpopo at the Phalaborwa Mining Company's copper mine. The men died after they became trapped underground when a fire broke out in the early hours of... 

First Majestic production hits record, 2018 production guidance hiked

By: Simone Liedtke     17th July 2018 Total production from dual-listed First Majestic’s seven operating silver mines reached a new company record of 5.1-million ounces of silver equivalent in the second quarter, comprising 2.8-million ounces of silver, 25 449 oz of gold, 3.9-million pounds of lead and 1.4-million pounds of zinc. The... 

Anglo Asian’s production remains on upward trajectory

By: Creamer Media Reporter      17th July 2018 Production from Azerbaijan-focused Anglo Asian Mining’s Gedabek gold, copper and silver mine is continuing on an upward trajectory, instilling confidence that the full-year guidance of 78 000 oz to 84 000 oz of gold equivalent will be achieved. The Gedabek mine produced 19 042 oz of gold... 

R2.6bn boost for platinum demand

By: Martin Creamer     17th July 2018 Platinum demand received a R2.6-billion boost on Tuesday when South Africa’s State-owned Public Investment Corporation (PIC) joined forces with Anglo American Platinum (Amplats) to promote the development of innovative and competitive technological uses of platinum-group metals (PGMs). By each... 

R2.6bn boost for platinum demand
From left are PIC executive head: project development Sholto Dolamo; AP Ventures partner Kevin Eggers, AP Ventures managing partner Andrew Hinkly and Anglo American Platinum CEO Chris Griffith.

Equinox Gold sees California project as second cornerstone mine

By: Simone Liedtke     17th July 2018 TSX-V-listed Equinox Gold will significantly increase its future gold production if it develops its project in California, with output from the company’s two cornerstone mines – Castle Mountain, in the US, and Aurizona, in Brazil – estimated at almost 200 000 oz/y by 2020, increasing to 350 000... 

Mustang to focus on graphite/vanadium assets following gemstones deal

By: Esmarie Swanepoel     17th July 2018 The A$10-million merger of Mustang Resources’ ruby assets with that of TSX-V listed Fura Gems will allow the Australia-listed company to focus on its graphite/vanadium assets in Mozambique. Under the agreement, Fura will issue Mustang with A$10-million in shares over a 20-month period, giving... 

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