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Latest News

Glencore bond tanks and scuppers Anglo's return

By: Reuters     25th March 2017 Anglo-Swiss miner Glencore sold its first US dollar bond in two years on Tuesday, but the deal tumbled after pricing as a global sell-off added to a backlash against the deal's tight spread. The $1-billion ten-year trade is the company's first since April 2015, and follows a recovery in... 

Escondida outcome seen as disaster for BHP as workers return

By: Reuters     25th March 2017 The end of a historic strike at Chile's Escondida copper mine, the world's biggest, has left its owner, BHP Billiton, nursing an estimated $1-billion loss and probably in a weaker position for negotiations in a year or so, company and industry insiders said. On Thursday, the 2 500-member union... 

Brazil's Vale says US court annuls most of class action over dam disaster

By: Reuters     25th March 2017 Brazilian miner Vale said on Friday the US District Court for the Southern District of New York annulled the majority of a class action lawsuit against the company and executives over the collapse of a tailings dam in Brazil in 2015. The only parts of the case that remain ongoing are linked to... 

Klondex to lift FY2017 output 36%

By: Henry Lazenby     25th March 2017 Gold and silver producer Klondex Mines has forecast a 36% year-on-year increase in output on the back of producing a record 151 007 gold equivalent ounces (GEOs) from its Nevada operations last year, exceeding the high end of management's guidance range. "We expect to produce between 210 000 and... 

Lucapa announces maiden Mothae resource estimate

By: Henry Lazenby     25th March 2017 Precious gem miner Lucapa Diamonds has published a maiden Joint Ore Reserves Committee-compliant resource estimate for the Mothae kimberlite pipe, in Lesotho. Mothae is located approximately 5 km from Gem Diamonds’ Letšeng mine. 

Rockwell in a bind as court issues interim liquidation order on 3 subsidiaries

By: Henry Lazenby     25th March 2017 A judge in Kimberley South Africa has on Thursday issued an interim liquidation order against three subsidiaries of TSX- and JSE-listed Rockwell Diamonds. The interim court order does not affect Rockwell Diamonds, the parent entity. 

Rockwell in a bind as court issues interim liquidation order on 3 subsidiaries
Photo by Rockwell Diamonds
Niewejaarskraal diamond mine, South Africa

Trump wastes no time to approve TransCanada’s Keystone XL pipeline

By: Henry Lazenby     24th March 2017 US President Donald Trump has issued a Presidential Permit approving the construction of TransCanada’s long-delayed $8-billion Keystone XL (KXL) pipeline on Friday. “TransCanada will finally be allowed to complete this long overdue project with efficiency and with speed. We're working out the... 

Trump wastes no time to approve TransCanada’s Keystone XL pipeline

Govt rules out granting mining licences to zama-zamas as it seeks solutions to illegal mining

By: Ilan Solomons     24th March 2017 While government is committed to finding a reasonable solution to regulate the artisanal mining sector, in South Africa this will  only apply to surface projects, and not to those undertaken in underground areas by the many illegal miners referred to as zama-zamas, Mineral Resources Deputy... 

Govt rules out granting mining licences to zama-zamas as it seeks solutions to illegal mining
Mineral Resources Deputy Minister Godfrey Oliphant

Transnet offers voluntary severance packages to staff

By: Megan van Wyngaardt     24th March 2017 Transnet on Friday confirmed that it is offering voluntary severance packages (VSPs) to its management and bargaining unit employees to streamline its business and ensure the group’s long-term sustainability. The parastatal cited subdued global economic growth, including a weak economic outlook... 

Transnet offers voluntary severance packages to staff

Goodlace joins Kumba board

By: Natasha Odendaal     24th March 2017 Former Impala Platinum CEO Terence Goodlace has joined the board of JSE-listed Kumba Iron Ore as independent nonexecutive director with immediate effect. Goodlace also previously held the post of Metorex CEO and Gold Fields COO and executive VP and head of the international operations. Currently,... 

Water scarcity rewiring mining companies’ approach to shared water use

By: Megan van Wyngaardt     24th March 2017 The threat of ongoing water scarcity represents a significant opportunity to the mining and metals sector, as companies seek solutions to improve water security and sanitation, a new report from the International Council of Mining and Metals (ICMM) and the International Finance Corporation (IFC),... 

CRG raises funds for working capital, concentrator circuit

By: Megan van Wyngaardt     24th March 2017 Central Rand Gold (CRG) has raised £300 000 through the issue of 60-million new ordinary shares at an issue price of 0.5p apiece. The proceeds will be used for working capital and building a 60 000 t/m concentrator circuit aimed at upgrading the gold grade of mine waste dumps materials before... 

Reviving king of gold means getting mine workers off their knees

By: Bloomberg     24th March 2017 During his early years as a miner in South Africa, Joas Mahanuque spent six hours a day on his knees drilling for Impala Platinum Holdings Ltd. The dust-filled tunnels half a mile underground were too low for him to stand, and temperatures reached 105 degrees Fahrenheit (40 degrees Celsius).... 

Miners regain mojo to spark $18bn in exploration hunt

By: Bloomberg     24th March 2017 A rebound in exploration by global miners could see spending hit $18-billion by 2025 with China the front runner in the search for a new generation of giant discoveries. Exploration budgets are rising after they plunged to an 11-year low of about $10-billion last year as mining companies slashed... 

Revised mine plan, updated reserves extend life of Shanta’s New Luika mine

By: Mia Breytenbach     24th March 2017 Aim-listed Shanta Gold has announced a revised mine plan for its New Luika gold mine, in Tanzania, for January 2017 to December 2023, as well as an updated reserve plan for the mine. The revised mine plan is expected to result in a 39% increase in forecast gold production for 2017 to 2023, from... 

Slow progress in payouts to former miners – Oliphant

By: African News Agency      24th March 2017 Deputy Mineral Resources Minister Godfrey Oliphant on Thursday conceded that efforts to reach out and compensate former mineworkers, many of whom from neighbouring countries, have not been satisfactory. In his keynote address at the Southern Africa Trust summit on social security and compensation... 

Argentina says Enirgi, Orocobre to invest $880m in lithium

By: Reuters     24th March 2017 Miners Enirgi Group Corporation and Orocobre will expand their production of lithium in Argentina with investments of $720-million and $160-million, respectively, Argentina's government said on Thursday. Argentina is the world's No. 3 producer of lithium, a hotly demanded material used in car... 

Tanzania gold export ban costing Acacia $1m a day in lost revenue

By: Megan van Wyngaardt     24th March 2017 The recent implementation of a gold and copper exports ban by the Tanzanian government is costing its largest gold miner, Acacia Mining, an average of $1-million a day in revenues. LSE-listed Acacia Mining on Friday said it was now taking a “range of actions” at its Bulyanhulu and Buzwagi mines... 

Australian group lines up China backing for new iron-ore rail, port infrastructure

By: Reuters     24th March 2017 China State Construction Engineering Corp has tentatively agreed to build a new port and rail line for a yet-to-be-approved iron-ore mine in Western Australia, according to a memorandum of understanding (MoU) with privately-owned New Zealand firm BBI Group. The MoU, tied to a A$6-billion... 

Kusasalethu strike ends

By: Megan van Wyngaardt     24th March 2017 A two-day unprotected strike at Harmony Gold's Kusasalethu mine, near Carletonville, drew to a close on Friday afternoon, following discussions between Harmony's senior management and the senior leadership of the Association of Mineworkers and Construction Union (AMCU). “I am pleased that the... 

Kusasalethu strike ends

Rio awards A$900m in contracts as Amrun mine development progresses

By: Esmarie Swanepoel     24th March 2017 Production and shipping from the Amrun bauxite mine, in Queensland, is on track to start in the first half of 2019, with mining major Rio Tinto this week announcing the award of more than A$900-million of contracts to Queensland suppliers. Queensland Premier Annastacia Palaszczuk said Rio’s... 

Rio awards A$900m in contracts as Amrun mine development progresses

BFS estimates A$271m capital cost for Thunderbird Phase 1 development

By: Esmarie Swanepoel     24th March 2017 The bankable feasibility study (BFS) on the Thunderbird mineral sands project, in Western Australia, has increased projected capital requirements from the A$271-million estimated in the prefeasibility study (PFS), to A$348-million. The BFS was based on an initial 8.5-million-tonne-a-year... 

Era boss moves to Rio Tinto

By: Esmarie Swanepoel     24th March 2017 Uranium miner Energy Resources of Australia (Era) has announced that its CEO and MD Andrea Sutton will resign to take up a position with parent company Rio Tinto. Sutton, who was appointed CEO and MD in 2013, will work with the board to ensure a smooth transition to her successor, Era said on... 

Fortescue pays down more debt

By: Esmarie Swanepoel     24th March 2017 Iron-ore major Fortescue Metals has announced a $1-billion repayment of its 2019 term loan. CEO Nev Power on Friday said the $1-billion payment continues the company’s debt reductions strategy, lowering Fortescue’s all-in cost position and reducing the 2019 debt to less that $1-billion. 

Hot Chili raises A$13m

By: Esmarie Swanepoel     24th March 2017 Junior copper developer Hot Chili is hoping to raise up to A$13-million through a private placement to refund its outstanding debt and fund exploration work. The ASX-listed company on Friday said it had arranged an offering of unsecured convertible notes, with the funding to be led by lender... 

India's oil, gas companies seek minimum floor price for natural gas

By: Ajoy K Das     24th March 2017 Oil and gas exploration and production (E&P) companies in India are seeking to have the natural gas pricing regime revised to allow for the setting of a minimum rate, as a sustained fall in prices is fast eroding the economic viability of operations. The E&P companies, in a communication with the... 

Balama on track for Q2 start

By: Esmarie Swanepoel     24th March 2017 The Balama graphite project, in Mozambique, is on track to be commissioned in the second quarter of this year. Owner Syrah Resources on Friday told shareholders ore mining is scheduled to start in May to allow for the commissioning of the primary crusher. A temporary laboratory will be... 

Kingsrose administrators raise cash

By: Esmarie Swanepoel     24th March 2017 The administrators of ASX-listed Kingsrose Mining have announced that the company has raised some A$5.4-million through a secured convertible loan facility to assist with its restructuring. The gold junior in December 2016 went into voluntary administration, placing its Talang Santo mine, in... 

Proponents see glistening future in seabed mining, but environmentalists fret

By: Megan van Wyngaardt     24th March 2017 With the current known mineral deposits on land increasingly being depleted globally, necessitating greater exploration, interest in deep-sea minerals is growing as mining companies look for future sources to exploit. “The ocean is where future resources exist,” India Council of Scientific and... 

Proponents see glistening future in seabed mining, but environmentalists fret

Sandstorm acquires 22 NSR royalties in Q1

By: Henry Lazenby     24th March 2017 Canadian gold streaming and royalty company Sandstorm Gold has acquired 22 net smelter return (NSR) royalties during the first quarter of 2017 for $1.9-million in cash. The assets include royalties on development-stage, advance exploration-stage and other exploration-stage projects located in... 

Freeport-McMoRan sees no material impact on output from Peru strike

By: Reuters     24th March 2017 Freeport-McMoRan said Thursday that a nearly two-week strike has not materially impacted production levels at its Cerro Verde copper mine in Peru, the country's biggest, though the union said output has been cut in half. The union is preparing to skirt an order by the labour ministry to return... 

Mining Weekly iPhone and Android Apps available for free download 

     24th March 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

Excellon reports Q4 loss despite lifting output while fighting water ingress

By: Henry Lazenby     23rd March 2017 Mexico’s highest-grade silver miner Excellon Resources has narrowed its loss for the three months ended December 31, while lifting silver-equivalent output 20%. The Toronto-headquartered company recorded a net loss of $55 000, compared with a net loss of $1.7-million in the comparable period of... 

Excellon reports Q4 loss despite lifting output while fighting water ingress
Photo by Excellon Resources
Platosa ore, Mexico

Escondida workers to end strike as they opt for old contract

By: Reuters     23rd March 2017 The strike at Escondida, the world's largest copper mine, will end after workers decided to invoke a legal provision that allows them to extend their old contract, the union said on Thursday. The workers said they would present their decision to the government on Friday and return to work on... 

Nevsun finds more mineralisation at Eritrea-based Bisha, satellite deposits

By: Henry Lazenby     23rd March 2017 Canadian base metals producer Nevsun Resources has found more mineralisation at its flagship Bisha mine and satellite deposits in Eritrea, on the Horn of Africa. Drilling undertaken in 2016 has increased the inferred resource at the Harena deposit by nearly 130% to 25-million tonnes grading 0.93%... 

Nevsun finds more mineralisation at Eritrea-based Bisha, satellite deposits
Photo by Nevsun Resources
Bisha, Eritrea

CoAL COO resigns

By: Anine Kilian     23rd March 2017 Michiel Jakobus Brönn has resigned as COO of Coal of Africa (CoAL). This follows after the Financial Services Board recently having fined him R350 000 for insider trading. 

Gold mining operations need to transform into 'mines of the future' 

By: Natasha Odendaal     23rd March 2017 Gold Fields CEO Nick Holland believes it is time for current gold mining operations to “fundamentally transform” into “mines of the future" in order to prosper. Speaking at the University of the Witwatersrand’s (Wits’) School of Mining Engineering’s celebration of 120 years of service, on... 

Gold mining operations need to transform into 'mines of the future'
Gold Fields CEO Nick Holland discusses the need to move to mechanisation and adopt other technologies to improve mine productivity and safety. Video and editing: Nicholas Boyd.

BHP's Escondida mine says negotiations dissolved; will return to production

By: Reuters     23rd March 2017 The negotiation process between BHP Billiton and striking workers at its Escondida mine in Chile has ended unsuccessfully, Escondida mine president Marcelo Castillo said on Thursday, and the company will try to restart operations. The company will also evaluate an option of the Chilean labor code... 

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