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Latest News

ERG to pilot blockchain-based solution to enhance provenance, traceability of cobalt

By: Simone Liedtke     21st January 2019 Global Battery Alliance (GBA) founding member Eurasian Resources Group (ERG) will be piloting a blockchain-based solution based on the IBM Blockchain Solution, to enhance the provenance and traceability of cobalt in the metal’s supply chain. Following the announcement on Monday, ERG explained in... 

Vast advances discussions to secure replacement offtake finance

By: Simone Liedtke     21st January 2019 Aim-listed Vast Resources on Monday announced that its directors will advance discussions with other parties with a view to securing replacement offtake prepayment finance for the $5.5-million Tranche B advance for its Manaila and Baita Plai polymetallic mines, in Romania. This follows after... 

Fourteen miners killed in Rwanda tin mine – official

By: Reuters     21st January 2019 Fourteen miners were killed in an eastern Rwandan tin mine after a hill collapsed on them after heavy rains, an official said on Monday. "Because of recent rainfall in the area, part of the hill nearby collapsed and 14 miners who were getting ready for work were buried by land," Fred Mufuruke,... 

Drill programme at Dangou area delivers promising results for Semafo

By: Simone Liedtke     21st January 2019 A fourth-quarter drill programme returned promising results from three sectors, including 19 m at 4.17 g/t gold from 42 m, at Canada-based mining company Semafo’s Dangou area, located northeast of the company’s Boungou mine, in Burkina Faso. A total of 5 210 m of drilling were completed in the... 

Gemfields ‘encouraged’ by most recent CPR report, despite declining results

By: Simone Liedtke     21st January 2019 JSE-listed Gemfields is “particularly encouraged” by the increased level of mineral resource base and confidence underpinning the company’s most recent competent persons reports (CPR), despite results showing a decline since 2015. The CPR, which was produced by SRK Consulting in respect of... 

Ariana encouraged by Kizilcukur developments

By: Simone Liedtke     21st January 2019 Updated developments at Turkey-focused Ariana Resources’ Kizilcukur project show that about 2 800 t of mineralised material is currently stockpiled on site, with the potential to double with limited additional trial mining in 2019. Kizilcukur is part of the Red Rabbit Joint Venture (JV) with... 

Toro Gold’s first year of production at Senegal mine exceeds expectations

By: Marleny Arnoldi     21st January 2019 Gold miner Toro Gold exceeded its 2018 production forecast by 17%, with 156 926 oz produced from its 90%-owned Mako mine, in Senegal. The company had forecast production of 134 294 oz following the first gold pour in January 2018.  

Toro Gold’s first year of production at Senegal mine exceeds expectations
The Mako mine

Russian gold miner Highland eyes higher output in 2019

By: Marleny Arnoldi     21st January 2019 Aim-listed Highland Gold Mining produced 269 500 oz gold and gold equivalent in 2018, which met the guidance range of between 265 000 oz and 275 000 oz. The production was a 1% decrease compared with the 272 274 oz produced in 2017.  

Russian gold miner Highland eyes higher output in 2019

Canadian oil surge fails to lift producers out of the doldrums

By: Bloomberg     21st January 2019 Alberta’s crude curtailment plan has caused a dramatic rise in the price of heavy Canadian oil. But for shares of energy companies, it hasn’t been as much of a help. Since the production curtailment was unveiled early last month, Western Canadian Select crude has almost doubled to about $43 a... 

Canadian oil surge fails to lift producers out of the doldrums

Teck ups stake in explorer Fireweed

By: Creamer Media Reporter      21st January 2019 Canada’s largest diversified mining company, Teck Resources, has increased its stake in Vancouver-based explorer Fireweed Zinc to just shy of 10%, which the junior company sees as a vote of confidence in its Macmillan Pass project, in the Yukon Territory. Teck’s participation in Fireweed Zinc’s... 

Cokal wading through the shallows for BBM

By: Esmarie Iannucci     21st January 2019 Coal developer Cokal has singed a non-binding heads of agreement with Vietnam’s An PhatLoc General Trading Co to jointly develop shallow draft barging on the Barito River to transport coal from the PT Bumi Barito Minerals (BBM) project area, in Indonesia. Barges built by An PhatLoc, carrying... 

Core granted first lithium lease in NT

By: Esmarie Iannucci     21st January 2019 ASX-listed Core Lithium has been granted a mineral lease for the Grants deposit at its Finniss lithium project, the first ever for a lithium project in the Northern Territory. The company said that the award of the mineral lease, which is valid for a term of 20 years, was completed three months... 

Saracen sets records in December quarter

By: Esmarie Iannucci     21st January 2019 Gold miner Saracen Mineral Holdings has increased its production expectations for the 2019 financial year, on the back of record production during the December quarter. Saracen has increased its production guidance to between 345 000 oz and 365 000 oz, up from the previous estimate of between... 

Highland receives amended permits for US copper project

By: Simone Liedtke     21st January 2019 TSX-V-listed Highland Copper has received the mining, air and dam safety permits from the Michigan Department of Environmental Quality (MDEQ) for its Copperwood project located in the Upper Peninsula, in Michigan, in the US. Based on the 2018 updated feasibility study on Copperwood, the company... 

Project Atlas gets enviro nod

By: Esmarie Iannucci     21st January 2019 The Queensland Department of Environment and Energy has given ASX-listed Senex Energy approval to develop its Atlas project. The company said on Monday that it was now progressing the remaining regulatory approvals required by the Queensland government, with all environmental authority... 

Regis awards underground contract at Rosemont

By: Esmarie Iannucci     21st January 2019 Gold miner Regis Resources has awarded contractor Barminco with the underground mining services contract at the Rosemont underground operation, in Western Australia. “This is a major step in delivering the underground strategy that Regis has been pursuing at Duketon,’ said Regis MD Jim Beyer. 

MMG warns of falling profits

By: Esmarie Iannucci     21st January 2019 Base metals miner MMG has warned shareholders of lower profits for the 2018 financial year, compared with 2017, following a softer second half. The company on Monday warned that it expected to record a net profit after tax of between $135-million and $140-million for the 2018 financial year,... 

Moreton eyes debt restructure as talks continue

By: Esmarie Iannucci     21st January 2019 Diversified junior Moreton Resources has instigated talks with funders with the aim of restructuring is debt while maintaining talks with possible buyers. Moreton in August last year launched a strategic review of its assets and subsidiaries in order to determine its core and noncore assets.... 

Australia’s minerals council defends foreign investment in mining

By: Esmarie Iannucci     21st January 2019 The Minerals Council of Australia (MCA) has launched a defense of foreign investment into the Australian resources sector, saying it has been critical to Australia’s unparalleled 27 years of continuous economic growth. The organisation says that there is a populist view that foreign investment... 

Zambia’s mining tax places Lumwana in ‘challenging situation’ – Barrick’s Jacobs 

By: Simone Liedtke     21st January 2019 NYSE- and TSX-listed Barrick Gold has not sold its biggest copper mine, Lumwana, in Zambia, but given the challenging conditions the mine is facing, “all options" are on the table. The Canada-headquartered company on Monday said that it was continuing to engage with the Zambian government and... 

North America helps Sandvik to weather weaker Asia

By: Reuters     21st January 2019 Swedish metal-cutting tools and mining gear maker Sandvik reported resilient fourth-quarter earnings on Monday as strong demand in North America outweighed a softening in Asia on the back of a weaker auto sector. Quarterly order intake at Sandvik, which competes with Sweden's Epiroc in mining... 

Sandfire approaches MOD with merger proposal  

By: Esmarie Iannucci     21st January 2019 Botswana-focused MOD Resources went into a trading halt on the ASX on Monday after Australian copper miner Sandfire Resources confirmed that it had approached the junior to express its interest in exploring a potential merger. Responding to media reports overnight, Sandfire said that the... 

WA claims BHP artificially understated sales prices to lower taxes

By: Esmarie Iannucci     21st January 2019 Media reports on Monday emerged that Western Australian Premier Mark McGowan would seek royalty payments of up to A$300-million from diversified miner BHP, which the state reportedly believed was underpaid over a period of 12 years. Broadcaster 6PR reported that the Western Australian government... 

WA claims BHP artificially understated sales prices to lower taxes

Amarc seeks new partners as Hudbay pulls out of BC projects

By: Creamer Media Reporter      21st January 2019 Explorer Amarc Resources has opened the door for a new partnership on two British Columbia copper projects, after diversified miner Hudbay Minerals relinquished its options to earn an interest in the IKE porphyry copper/molybdenum project, near Gold Bridge, and the JOY gold/copper project in the... 

Israeli billionaire Leviev's Zambia emerald mine stake restored

By: Bloomberg     21st January 2019 Zambia’s company registry reversed a decision to strip Israeli diamond billionaire Lev Leviev of his 50% stake in an emerald mine that’s at the heart of a $50-million dispute. The Patent and Companies Registration Agency, or Pacra, said in a letter on Thursday that it reversed the forfeiture of... 

AngloGold faces South African dilemma as M&A gold rush quickens  

By: Bloomberg     21st January 2019 Two decades ago, Anglo American created the world’s No. 1 gold miner by merging its South African assets. Having long since been eclipsed by its rivals, AngloGold Ashanti may need to leave home to keep up. Newmont Mining and Barrick Gold have forged megadeals that will extend their lead over... 

AngloGold faces South African dilemma as M&A gold rush quickens
Photo by Bloomberg
AngloGold CEO Kelvin Dushnisky

Silver is precious-metals outcast as 2019 rebound promise fades

By: Reuters     21st January 2019 Silver just completed its worst year in three. Investors are showing no signs of taking a shine to the metal in 2019, either. The commodity has erased its 2019 gain, while gold, platinum and palladium hold onto theirs. Silver futures on Friday posted the biggest weekly loss since November. 

Silver is precious-metals outcast as 2019 rebound promise fades

Berkshire denies media report on accord to extract lithium

By: Reuters     21st January 2019 A unit of Berkshire Hathaway denied a report on Sunday that it reached an agreement to allow extraction of lithium from its geothermal wells in California, a project that could offer US carmakers and battery producers a secure supply of the metal. "There is no agreement in place with anybody to... 

AMCU reiterates readiness for secondary strike at Sibanye’s platinum operations

By: Tasneem Bulbulia     18th January 2019 The Association of Mineworkers and Construction Union (AMCU) has reiterated its plans to proceed with a secondary strike at Sibanye-Stillwater’s platinum operations from Tuesday. The strike will be in support of those AMCU members who have been on strike at the precious metals miner’s gold... 

Location a key discussion point as Saudi Aramco mulls South African refinery investment

By: Terence Creamer     18th January 2019 “Location, location, location,” South Africa’s Minister Jeff Radebe quipped on Friday after a meeting with his Saudi counterpart, Khalid Al-Falih, where it was agreed that Saudi Aramco and the Central Energy Fund (CEF) would jointly study a plan for a new oil refinery and petrochemical investment... 

Location a key discussion point as Saudi Aramco mulls South African refinery investment
Kingdom of Saudi Arabia’s Energy, Industry and Mineral Resources Minister Khalid Al-Falih with South Africa's Energy Minister Jeff Radebe

Solidarity welcomes sequestration of Khulubuse Zuma 

By: Creamer Media Reporter      18th January 2019 Trade union Solidarity on Friday welcomed the sequestration of former Aurora Empowerment Systems director Khulubuse Zuma.   This followed after he failed to comply with the repayment agreement that the liquidators, with the support of Solidarity, agreed upon with Zuma.   Solidarity welcomed... 

Mali's gold production up 23% in 2018

By: Reuters     18th January 2019 Mali's industrial production of gold rose 23% last year to 60.8 t, Mines Ministry spokesperson Boubacar Sissoko said on Friday. In March, the mines ministry said output would rise in 2018 primarily due to the start of production at B2Gold's Fekola and Hummingbird Resources' Komana mines. 

Radebe insists IRP to be approved soon, amid Nedlac uncertainty 

By: Terence Creamer     18th January 2019 Energy Minister Jeff Radebe has reiterated that Cabinet could soon approve the long-awaited update to South Africa’s Integrated Resource Plan (IRP) for electricity, despite persistent suggestions that National Economic Development and Labour Council (Nedlac) sign-off of the document is still... 

Radebe insists IRP to be approved soon, amid Nedlac uncertainty

China Moly to increase stake in Congo's Tenke copper mine to 80%

By: Reuters     18th January 2019 China Molybdenum Co said on Friday it had agreed to buy a holding company for $1.14-billion in order to increase its control in Democratic Republic of Congo's massive Tenke copper mine. China Moly, already the majority owner of Tenke, will have an 80% stake in the mine after the acquisition of... 

Gold bull McEwen sticks with his $5 000 call as pot stocks peak

By: Bloomberg     18th January 2019 Gold mining veteran Rob McEwen is nothing if not optimistic. The founder of Goldcorp is sticking with his bold prediction that the precious metal will soar almost fourfold to $5 000/oz, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. 

Gold bull McEwen sticks with his $5 000 call as pot stocks peak
Rob McEwen

Three named to En+ voting trust as Deripaska looks to reduce stakes

By: Reuters     18th January 2019 Russian conglomerate En+ Group on Friday named three Americans who will form a voting trust to help Oleg Deripaska reduce his stake in the company in exchange for a waiver from US sanctions. Deripaska has agreed to reduce his stake in London-listed En+ to 44.95% from 70% and assign any voting... 

Germany's 2019 hard coal imports seen rising after mining ends

By: Reuters     18th January 2019 Germany is expected to import 45-million tonnes of hard coal this year, up roughly 1.4% from 2018 despite mounting competition from renewable energy, as the closure of domestic mines reduces domestic supply, importers said on Friday. The total would comprise an estimated 30 million tonnes for... 

Aussie coal junior claims discrimination in Poland

By: Mariaan Webb     18th January 2019 Australia-headquartered Prairie Mining, which focuses on coal projects in Poland, said on Friday that, as a foreign investor, it faced discriminatory treated in Poland, as its tussle with the Ministry of Environment (MoE) over the Debiensko mining concession dragged on. The company has applied... 

Aussie coal junior claims discrimination in Poland
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