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Latest News

Lundin confirms job cuts at Chile's Candelaria copper mine

By: Reuters     Updated 1 hour 4 minutes ago Canadian miner Lundin confirmed on Friday it was cutting 106 jobs at its Candelaria copper mine in Chile to "improve competitiveness and productivity", amid reports that workers had begun a 48-hour strike. In a statement sent to Reuters, the company said the job cuts represented less than 2% of... 

China's fight against smog makes palladium 2018's best metal

By: Bloomberg     Updated 1 hour 13 minutes ago Palladium prices are shattering record highs, and investors are betting that tight supplies mean the bull run is just getting started. The metal, used in pollution-control devices in cars, has jumped almost 9 percent this year in New York, the best performance among major metals. Demand is... 

Barrick Gold eyes assets, exploration as it plots new phase

By: Bloomberg     17th November 2018 Barrick Gold, soon to become the world's largest bullion miner, is interested in adding more copper assets as long as the red metal is accompanied by bullion, executives said on Friday. Barrick, which expects to complete its $6.1-billion takeover of Randgold Resources January 1, outlined plans... 

Barrick Gold eyes assets, exploration as it plots new phase
Mark Bristow

Barrick Gold aims to boost dividend in future – incoming CFO

By: Bloomberg     16th November 2018 Barrick Gold intends to grow future dividends via stronger operating cash flows, non-core asset sales and lower overhead and interest costs, the incoming CFO said in an investor presentation Friday. "The company has made it very clear that paying dividends will be a key deliverable and... 

Difficulties continue for Afarak in Q3

By: Simone Liedtke     16th November 2018 Industry seasonal effects, coupled with some internal adversities, primarily in the ferro-alloys segment, continue to make this a difficult year for specialty alloys producer Afarak. During the company’s third-quarter period, ended September 30, the benchmark price for ferrochrome fell further,... 

Russian Jan-July gold output flat at 157.19 t

By: Reuters     16th November 2018 Russia produced 157.19 t of gold in the first seven months of 2018, exactly the same amount as in the same period last year, the Finance Ministry said on Friday. Production for the period included 129.34 t of mined gold compared with 126.39 t a year ago, the Ministry said. 

Gold miner smuggles in workers by night to bypass strikers  

By: Bloomberg     16th November 2018 Gold Fields is having to sneak maintenance teams into its South Deep mine in South Africa after protesters shot at vehicles trying to enter the site, where workers have been on strike since Nov. 2. Small teams of essential workers are using secret entrances to enter the mine and sometimes have to... 

India state may cancel NMDC's Donimalai mine lease in levy dispute

By: Reuters     16th November 2018 The government of India's Karnataka state on Friday warned NMDC that it will cancel the lease of its Donimalai iron-ore mine if the State-owned miner refuses to pay an additional levy on the sale of its ore. Karnataka's threat to cancel the lease stems from a dispute between NDMC, India's... 

India’s Nalco to bid for bauxite blocks at auctions, readies to foray into merchant mining

By: Ajoy K Das     16th November 2018 With various Indian state governments readying to put 21 bauxite mines up for allocation, State-run National Aluminium Company Limited (Nalco) will put in bids at the auctions for captive consumption and foray into merchant mining of the raw material. The 21 bauxite blocks will be auctioned by... 

Eskom to buy ‘emergency’ coal, splurge on diesel as load-shedding risk returns 

By: Terence Creamer     16th November 2018 South Africa’s power utility Eskom reports that it has received approval for the National Treasury from the “urgent procurement” of four-million tons of emergency coal to help address serious stock shortfalls at several of its 15 coal-fired power stations. More than 1.1-million tons have already... 

Eskom to buy ‘emergency’ coal, splurge on diesel as load-shedding risk returns
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

GEECL establishes viable shale gas reserves as its CBM blocks

By: Ajoy K Das     16th November 2018 India’s Great Eastern Energy Corporation Limited (GEECL), an integrated producer of coalbed methane (CBM), will diversify its production of non-conventional hydrocarbons after establishing shale gas reserves in coal block assets in its fold. GEECL announced in a statement that it had been able to... 

BHP blames driver error, brake problem for runaway train wreck

By: Reuters     16th November 2018 BHP said on Friday that driver error caused an iron-ore train to run away without its driver and a brake problem caused the company to intentionally derail the train in order to stop it, according to a preliminary investigation. BHP said its initial findings of the November 5 incident showed the... 

Treasury report finds Koko meddled to help Tegeta

By: African News Agency      16th November 2018 Former Eskom CEO Matshela Koko obstructed coal testing that would have compromised the contract Tegeta Exploration cinched with the power utility, according to a forensic report released by National Treasury on Friday. The report by Fundudzi Forensic Investigation Services details how Eskom... 

 Treasury report finds Koko meddled to help Tegeta
Photo by Creamer Media
Former Eskom CEO Matshela Koko

Teck to announce Chile project partner in December

By: Mariaan Webb     16th November 2018 Canadian miner Teck Resources is making good progress with the process of bringing a partner into its northern Chile copper development project and plans to announce a transaction next month, CEO Don Lindsay said on Thursday. The company sees the Quebrada Blanca Phase 2 expansion as its most... 

Leagold announces 122% increase in Los Filos openpit reserves

16th November 2018 Latin America-focused Leagold has announced an increase in the proven and probable mineral reserves at the Los Filos openpit, in Mexico, to 40.5-million tonnes, grading 0.60 g/t containing 780 000 oz. This represents a 122% increase over the December 2017 estimate of 351 000 oz. 

Supreme Court to hear appeal in long-running Rio Tinto IOC-Innu suit

By: Mariaan Webb     16th November 2018 The Supreme Court of Canada has agreed to hear an appeal by the government of Newfoundland and Labrador on the issue of the jurisdiction of Quebec courts in respect of the Innu communities of Uashat mak Mani-Utenam and Matimekush-Lac’s C$900-million lawsuit against a unit of global miner Rio... 

Ncondezi $5.1m loan gets extended maturity date to November 2019

By: Marleny Arnoldi     16th November 2018 Aim-listed Ncondezi Energy has reached formal agreement to amend its $5.1-million loan, which received an extended maturity date to November 2019. Before a restructuring process started, the loan would have matured in September.  

NWT govt selects proponent to build Tlicho road

By: Creamer Media Reporter      16th November 2018 The Northwest Territories government has selected its preferred proponent to fund, construct, operate and maintain the Tlicho all-season road, which TSX-listed Fortune Minerals will use for its Fortune cobalt/gold/bismuth/copper mine project. The preferred proponent is North Star Infrastructure,... 

Palladium soars to record on tight supply, bets on China demand

By: Bloomberg     16th November 2018 Palladium surged to a record on bets that the Chinese auto industry will buoy global demand amid tight supplies of the metal used in vehicle pollution-control devices. Spot palladium rose as much as 4.6 percent to an all-time high of $1 180.26 an ounce, capping a third straight gain. The... 

Palladium soars to record on tight supply, bets on China demand

Malusi Gigaba named in bombshell Treasury report on rot at Eskom, Transnet 

By: News24Wire      16th November 2018 National Treasury has released a bombshell report of more than 600 pages detailing the extent of rot at Transnet and Eskom over the last six years – and says Malusi Gigaba compromised the procurement process of controversial new Chinese locomotives. The report, compiled after a forensic... 

Malusi Gigaba named in bombshell Treasury report on rot at Eskom, Transnet
Photo by Bloomberg
Former Home Affairs Minister Malusi Gigaba

ACCC clears Santos' Quadrant buy

By: Esmarie Iannucci     16th November 2018 The Australian Competition and Consumer Commission (ACCC) on Friday reported that it will not oppose ASX-listed Santos’ proposed acquisition of Quadrant Energy. Santos in August launched a $2.15-billion bid for Western Australia-focused Quadrant Energy, which holds natural gas and oil... 

ACCC clears Santos' Quadrant buy

Appea, QRC slam Andrews-led Victoria govt for ‘shutting up gas exploration shop’

By: Esmarie Iannucci     16th November 2018 The resources sector has warned of higher gas prices in Victoria should the Labor government be re-elected in the state, after Premier Daniel Andrews said that the hydraulic fracturing (fracking) ban currently in place, would be added to the state’s constitution. "We'll put it beyond the reach of... 

New PNG LNG venture one step closer to realisation

By: Esmarie Iannucci     16th November 2018 The Papua liquefied natural gas (LNG) project is one step closer to realisation after the joint venture (JV) partners entered into a memorandum of understanding (MoU) with the Papua New Guinea government. JV partner Oil Search said on Friday that the MoU provided the framework under which a gas... 

DRC lifts export ban on Glencore's copper and cobalt unit 

By: Bloomberg     16th November 2018 A Glencore unit in the Democratic Republic of Congo (DRC) had a ban on imports and exports from its giant copper and cobalt mine lifted by authorities in the country. “They submitted a request,” Jean Baptiste Nkongolo Kabila, director general of Congo’s custom’s agency, said Thursday by phone.... 

Iamgold doubles credit facility; Rosebel strike ends

By: Creamer Media Reporter      16th November 2018 Canada-based gold miner Iamgold on Thursday announced that it had doubled its credit facility and said in a separate statement that the work stoppage at its Rosebel mine, in Suriname, had ended. To fund its organic growth projects, The company amended its revolving credit facility, with the... 

Joint push to develop NT’s onshore and offshore gas resources

By: Esmarie Iannucci     16th November 2018 The commonwealth and Northern Territory governments have signed a memorandum of understanding (MoU) to jointly develop the Northern Territory’s gas industry, both onshore and offshore. Federal Minister for Resources and Northern Australia, Matt Canavan, said that the MoU recognised the national... 

Ribbon gets cut at Ichthys facility

By: Esmarie Iannucci     16th November 2018 The Ichthys liquefied natural gas (LNG) processing facilities, in Darwin, have officially been opened, representing the largest Japanese investment in Australian history and the largest overseas investment by a Japanese company. Inpex CEO, president and representative director Takayuki Ueda said... 

Pilgangoora officially opens

By: Esmarie Iannucci     16th November 2018 The Pilgangoora lithium/tantalum project, in Western Australia, has officially been opened by the Mines and Petroleum Minister Bill Johnston. The official opening of the mine comes four years since the first drill hole, and first product shipments which was achieved in October this year, owner... 

Stanmore extends Isaac Plains contract

By: Esmarie Iannucci     16th November 2018 Coal miner Stanmore Coal has extended the mining services agreement at its Isaac Plains East coal mine, in Queensland, with ASX-listed NRW Holdings by another five years. The contract extension will start in July 2019 and provides Stanmore with the flexibility to scale up and down production... 

MOD completes T3 buy

By: Esmarie Iannucci     16th November 2018 Copper developer MOD Resources has completed the acquisition of the remaining 30% interest in its flagship T3 copper project, in Botswana. MOD in July this year signed a binding agreement with its joint venture (JV) partner Metal Tiger to acquire its share of the project for A$26.6-million. 

Prodigy to raise cash for Tanami exploration

By: Esmarie Iannucci     16th November 2018 ASX-listed Prodigy Gold was hoping to raise up to A$8.8-million through a one-for-four non-renounceable pro rata rights issue. The rights issue will be priced at a 4% discount to the ten-day volume weighted average price of Prodigy Gold shares on Thursday, and all new shares will be ranked with... 

Although trending lower, lung disease incidence in SA mines still ‘alarmingly high’ 

By: Nadine James     16th November 2018 With the reaffirmation of tripartite commitments at the 2018 Mine Occupational Heath and Safety Summit and the publication of the Compensation for Occupational Diseases Act (Coida) Amendment Bill, both in October, it is clear that the regulatory authorities, including the departments of Labour... 

Although trending lower, lung disease incidence in SA mines still ‘alarmingly high’

Mining Weekly iPhone and Android Apps available for free download 

16th November 2018 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

K+S cuts outlook after dry weather weighs on production

By: Reuters     15th November 2018 German potash miner K+S lowered its full-year earnings guidance on Thursday after a severe drought hampered production at its main mine network in the third quarter. The company now forecasts earnings before interest, taxes, depreciation and amortisation (Ebitda) between €570-million and... 

Detour seeks to end proxy fight with Paulson & Co

By: Mariaan Webb     15th November 2018 Canadian miner Detour Gold on Thursday moved to end an increasingly acrimonious proxy fight with Paulson & Co by committing to include two of the US hedge fund’s nominees on its board and pledging to start a CEO search “immediately” after settling the proxy contest. Paulson nominees Steven... 

Detour seeks to end proxy fight with Paulson & Co
The Detour Lake mine

‘100 Global Inspirational Women in Mining’ 2018 edition released

By: Tasneem Bulbulia     15th November 2018 The Minerals Council South Africa (MCSA) congratulated the women featured in Women in Mining’s 2018 edition of the ‘100 Global Inspirational Women in Mining’. The publication was released in London on Tuesday, with Kalagadi Manganese executive chairperson Daphne Mashile Nkosi – a 2015 South... 

Kari Pump discovery adds 987 000 oz to mineral resource at Endeavour’s Houndé mine

By: Marleny Arnoldi     15th November 2018 TSX-listed Endeavour Mining on Thursday announced a maiden resource estimate of 11.3-million tonnes grading 2.71 g/t gold, containing 987 000 oz, for the Kari Pump discovery at the company’s flagship Houndé mine, in Burkina Faso, increasing the mine’s measured and indicated resources by 40%.... 

Paramount Gold acquires prospect near Grassy Mountain

By: Creamer Media Reporter      15th November 2018 US gold company Paramount Gold has entered into an agreement to acquire a high-grade prospect near its Grassy Mountain project, in eastern Oregon, from a subsidiary of Ely Gold Royalties. The Frost project totals about 360 ha and is seen as a low-cost way of expanding the mine life of the Grassy... 

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