R/€ = 15.15 Change: 0.00
R/$ = 13.93 Change: 0.00
Au 1265.63 $/oz Change: 2.16
Pt 945.50 $/oz Change: 7.50

Latest News

Brazil's Samarco misses second bond interest payment in a month

By: Reuters     Updated 4 hours ago Samarco Mineração, the Brazilian iron-ore mining joint venture that suspended operations in November following a dam disaster, on Monday said it had missed a $20-million interest payment related to a senior unsecured bond due in 2023. The payment on the $700-million bond was due on Monday and... 

Bellhaven upgrades 70% of La Mina resource to the indicated category

By: Henry Lazenby     Updated 4 hours ago Colombia-focused explorer Bellhaven Copper & Gold has upgraded the La Mina resource, in Colombia, increasing confidence in the National Instrument 43-101-compliant resource estimate and further de-risking the project. The TSX-V-listed company reported Monday that La Mina now contained... 

Galane upbeat on potential Tau extension at depth

By: Henry Lazenby     Updated 5 hours ago Southern Africa foused gold producer Galane Gold says it plans to undertake an exploration programme next year to investigate if there is a down dip and the possible extent of the ‘C Reef’ strike beyond the current mined area within the active underground working areas of the Mupane mine, in... 

PTM launches $40m financing for Maseve development, working capital

By: Henry Lazenby     Updated 5 hours ago South Africa-focused project developer Platinum Group Resources (PTM) has launched a $40-million bought deal financing to raise cash for underground development and production ramp-up of the Project 1 Maseve platinum mine, debt repayment and general corporate purposes. A syndicate of underwriters... 

Fission reports growing high-grade resource to the west

By: Henry Lazenby     Updated 7 hours ago Explorer Fission Uranium has confirmed new high-grade mineralisation at the R840W zone, currently outside of the Triple R resource area, and also at the main R780E zone, beneath the Triple R deposit, at its Patterson Lake South (PLS) property, located in Canada's Athabasca Basin region. The... 

Rambler cuts costs as it redoubles focus on Ming mine expansion

By: Henry Lazenby     24th October 2016 Maritime Canada-focused copper producer Rambler Metals and Mining has managed to lower costs by more than 18% for the year ended July 31, but booked another sizeable write-down on its flagship Ming mine, in Newfoundland. The London, England-based company reported that C1 cash costs fell on... 

Gold Fields aims to increase production in W Africa

By: David Oliveira     24th October 2016 Gold mining major Gold Fields announced earlier today that it would like to increase gold production from its West African assets to a million ounces a year. The company currently owns and operates two mines in Ghana, namely Damang and Tarkwa, which Gold Fields West Africa head Alfred Baku noted... 

Conference highlights the economic, environmental challenges facing mining communities

By: Anine Kilian     24th October 2016 Mining communities in Africa are often in remote areas, far from where decisions are being made on their behalf, Open Society Initiative of Southern Africa team leader Masego Madzwamuse said on Monday. Speaking at an event hosted by nonprofit organisation Benchmarks Foundation, in Johannesburg,... 

Beowulf’s Kallak remains under environmental review

By: Megan van Wyngaardt     24th October 2016 Nordic-focused exploration and development company Beowulf Mining has not taken any shortcuts in the development of its Kallak North magnetite iron-ore project, in Sweden, it said on Monday. The mine was recently under review by the Mining Inspectorate of Sweden, owing to questions surrounding... 

De Beers spending more on South African diamond exploration 

By: Martin Creamer     24th October 2016 Diamond mining company De Beers Consolidated Mines (DBCM) is spending more on exploration as it searches for a new diamond mine to augment its two existing South African diamond mines – Venetia, in Limpopo province, and Voorspoed, in the Free State. DBCM CEO Phillip Barton, who spoke to Mining... 

De Beers spending more on South African diamond exploration
De Beers Consolidated Diamond Mines CEO Phillip Barton tells Mining Weekly Online’s Martin Creamer that the company’s exploration budget has been increased. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Xtract confident of company’s future after halting Chile mine investment

By: Megan van Wyngaardt     24th October 2016 Xtract Resources’ decision to no longer provide finance to Minera Polar Limitada, the owner of the Chepica gold/copper mine, in Chile, has stopped the severe financial haemorrhaging the company had suffered over the past year. In September, Xtract decided to pull the plug on its investment in the... 

Botswana’s economic stimulus to prevent financial deficit narrowing rapidly

By: Natasha Odendaal     24th October 2016 The next two years will see a gradual narrowing in Botswana’s financial deficit as mining recovers; however, continued government capital expenditure (capex) requirements will prevent the surplus seen during the commodity boom. Data released by BMI Research shows the Southern African country’s... 

China sets another meeting to boost coal supply as prices surge – sources

By: Reuters     24th October 2016 China's State planner has called another last-minute meeting to discuss with more than 20 coal mines more steps to boost supplies to electric utilities and tame a rally in thermal coal prices, according to two sources and local press. The National Development and Reform Commission (NDRC) has... 

Mining industry must do more for communities – BMF

By: Anine Kilian     24th October 2016 With mining communities not having reaped the expected benefits that mining companies were meant to provide, the industry has become a difficult subject to discuss in South Africa, despite current levels of interest in the subject being unparalleled since South Africa’s transition to... 

Mining industry must do more for communities – BMF

AfDB provides R4.2m for South African sustainable mining efforts

By: Megan van Wyngaardt     24th October 2016 To develop skills and knowledge in sustainable development and mining, the African Development Bank (AfDB) has granted R4.2-million to an initiative run by the South African government and the University of Cape Town (UCT). Aimed at helping turn the minerals extraction and beneficiation... 

Avocet dealt blow as 1 400 oz of gold is seized in labour row

By: Megan van Wyngaardt     24th October 2016 LSE-listed Avocet Mining’s shares fell by 24.5% from 83.12p a share at Friday’s close to 62.75p apiece on Monday morning, following the news that a gold shipment containing about 1 400 oz from the Inata gold mine, in Burkina Faso, had been seized. Bailiffs acting on behalf of former employees of... 

Petra achieves 1.1Mct output in Q1

By: Natasha Odendaal     24th October 2016 LSE-listed Petra Diamonds has reported a strong start to the 2017 financial year, achieving a double-digit surge in diamond output and higher revenue for the three months to September 30. Petra on Monday reported a 30% jump in diamond production during the first quarter of the year to nearly... 

Petra achieves 1.1Mct output in Q1

Liquidator retrenches all 5 000 workers at mothballed Botswana nickel miner

By: African News Agency      24th October 2016 All 5 000 employees of the moth-balled Botswana nickel miner Bamangwato Concession Limited (BCL) and its subsidiaries Tati Nickel Mining Company (TNMC) and BCL Investments will receive their last salaries in October 2016, the mine’s provisional liquidator has said. In a letter sent directly to... 

Amec calls for EDI extension

By: Esmarie Swanepoel     24th October 2016 The Association of Mining and Exploration Companies (Amec) has called on the federal government to extend the Exploration Development Incentive (EDI) beyond 2017, saying it will take nearly a decade for the programme to demonstrate its true value. The EDI encourages shareholder investment in... 

Randgold to pursue more opportunities in Côte d'Ivoire

By: Megan van Wyngaardt     24th October 2016 Africa-focused gold miner Randgold Resources will continue to explore gold opportunities in Côte d'Ivoire. Speaking at a Randgold-sponsored golf event in the West African country at the weekend, CEO Mark Bristow noted that the country held exciting possibilities for further investment and that... 

Randgold to pursue more opportunities in Côte d'Ivoire
Randgold Resources CEO Mark Bristow

India raises concerns over lack of development at auctioned mineral blocks

By: Ajoy K Das     24th October 2016 India’s Mines Ministry has expressed concern that 16 auctioned mineral blocks have not been developed into operational mines and has convened a high-level meeting for later this week to take stock of the situation. The Ministry has convened the meeting of the Post Auction Mining Clearance and... 

Gold Fields invests $1.4bn to extend Damang’s life-of-mine 

By: David Oliveira     24th October 2016 Gold Fields will invest $1.4-billion to extend the life of its Ghana-based Damang mine from 2017 to 2024. Over the life of the mine, a total of 165-million tons will be mined at Damang, with 32-million tons processed at a grade of 1.65 g/t, resulting in total gold production of 1.56-million ounces. 

Gold Fields invests $1.4bn to extend Damang’s life-of-mine
Gold Fields CEO Nick Holland and Gold Fields West Africa head Alfred Baku discuss the reinvestment plan for the Damang mine

Gold Fields maintains FY output guidance despite 4% y/y drop in Q3 output

By: David Oliveira     24th October 2016 Gold major Gold Fields’ attributable equivalent gold production for the quarter to September 30, decreased by 4% year-on-year to 537 000 oz. Production was, however, 2% higher than the 529 000 oz produced in the second quarter of the year. 

Gold Fields maintains FY output guidance despite 4% y/y drop in Q3 output
Photo by Duane Daws
Gold Fields CEO Nick Holland

Cooper Energy to buy Santos’s Victorian gas assets in A$82m deal

By: Esmarie Swanepoel     24th October 2016 ASX-listed Cooper Energy has struck an A$82-million deal with energy major Santos to buy its Victorian gas assets. The assets include a 50% interest in the Casino-Henry gas project, a 50% interest in the Sole gasfield and the Orbost gas plant, a 10% interest in the Minerva gasfield and plant,... 

QRC calls for re-establishment of Parliamentary inquiry into green activists’ funding

By: Esmarie Swanepoel     24th October 2016 The Queensland Resources Council (QRC) has called on the federal government to reestablish the select Parliamentary Committee inquiry into taxpayer subsidies being provided for green activist interference in local project approvals. This comes after a WikiLeaks email revealed that parties from... 

QRC calls for re-establishment of Parliamentary inquiry into green activists’ funding

Kimberley confirms Lerala halt

By: Esmarie Swanepoel     24th October 2016 Diamond miner Kimberley Diamonds has confirmed that mining at its Lerala mine, in Botswana, has been temporarily suspended, but refuted claims that the mine has closed down. The company said on Monday that mining operations at the mine, conducted by contractor Basil Read, have to date been at... 

Kimberley confirms Lerala halt

Perseus increases gold output in Sept quarter

By: Esmarie Swanepoel     24th October 2016 Gold miner Perseus Mining has reported a 9% quarter-on-quarter increase in production at its Edikan mine, in Ghana, in the quarter ended September 30, on the back of improved mill performance. The mine produced 43 776 oz of gold in the quarter, with the company on track to achieve its full-year... 

Deep Yellow appoints Borshoff as new head

By: Esmarie Swanepoel     24th October 2016 Uranium developer Deep Yellow has appointed John Borshoff CEO and MD, effective immediately, to succeed outgoing MD Greg Cochran. Borshoff stepped down as CEO of uranium miner Paladin Energy in August 2015 after founding the company some 21 years before. 

Tawana takes option over WA lithium project

By: Esmarie Swanepoel     24th October 2016 Dual-listed Tawana Resources has signed an option agreement to earn into the Bald Hill lithium mine, in Western Australia. Under the terms of the agreement, Tawana will acquire all of the shares in Lithco for an option fee of A$25 000, payable immediately. The company can exercise the option at... 

MMG hopes to restart Peru exports

By: Esmarie Swanepoel     24th October 2016 Metals miner MMG is hopeful that concentrate trucking from its Las Bambas copper project, in Peru, will resume in the coming days as regional unrest quiets down. MMG has previously reported that logistics at the Las Bambas operation were temporarily disrupted by ongoing community protests,... 

Largo on track for further quarterly ops improvement as vanadium market turns

By: Henry Lazenby     23rd October 2016 A string of quarterly performance improvements by Canadian vanadium producer Largo Resources bodes well for third-quarter numbers at the Maracás Menchen mine, in Bahia state, Brazil, to follow the same record-setting trend. “The company is looking to beat previous numbers,” president and CEO Mark... 

Largo on track for further quarterly ops improvement as vanadium market turns
Photo by Henry Lazenby
Vanadium pentoxide at Largo Resources' Maracas Menchen mine, Brazil

Goldman sees China’s ‘stealth’ coal bailout lasting to 2020

By: Bloomberg     22nd October 2016 China’s coal production restrictions are a “stealth” bailout for miners and their creditors that may last until the end of the decade as the policies help boost prices, according to Goldman Sachs Group. Without government intervention, China’s coal industry wouldn’t be able to service the nearly... 

China visit helps Duterte reap funding deals worth $24b 

By: Bloomberg     22nd October 2016 Philippine President Rodrigo Duterte will bring home $24-billion worth of funding and investment pledges from his four-day visit to China as both nations agreed to resume talks and explore areas of cooperation in the South China Sea. China will provide $9-billion in soft loans, including a... 

Crude rally May clinch Canada top stock market status in ’16

By: Bloomberg     22nd October 2016 Gold’s best run since 2010 pushed Canadian equities to the top spot among developed-market stocks this year. Crude at $50/bl will give them an opportunity to stay there. That’s the view of strategists who follow the nation’s resource-heavy stock market. They expect energy producers will rally... 

Crude rally May clinch Canada top stock market status in ’16

Codelco copper premiums $80 to $85 Europe, $70 China – sources

By: Reuters     22nd October 2016 The world's biggest copper miner, Codelco, has slashed its 2017 physical copper premium to European buyers to the $80 to $85 per tonne range and is offering Chinese buyers a premium of around $70, three traders told Reuters this week. That would represent a deep cut from last year, underlining... 

TSX rises to 16-month high, led by resource shares

By: Reuters     22nd October 2016 Canada's main stock index rose to a 16-month high on Friday as shares of energy and materials companies led broad-based gains and investors raised bets on a rate cut from the Bank of Canada. For the week, the commodity-linked TSX rose 2.4%, helped by a 15-month high on Wednesday for US crude... 

Wesizwe opts for contractor mining at Bakubung 

By: Megan van Wyngaardt     21st October 2016 Platinum group metals (PGMs) miner Wesizwe Platinum has decided to appoint contract miners to operate its Bakubung platinum mine, near Rustenburg. At a media briefing, in Johannesburg, on Friday, Wesizwe projects executive Jacob Mothomogolo explained that 70% of South Africa’s start-up PGMs mines... 

Wesizwe opts for contractor mining at Bakubung
Wesizwe projects executive Jacob Mothomogolo speaks about the platinum industry Cameraperson and editing: Nicholas Boyd 21/10/2016

Jubilee sees Q3 production increase

By: Anine Kilian     21st October 2016 Chromite concentrate production at dual-listed Jubilee Platinum’s Dilokong chrome mine project is up 88.04% to 28 559 t for the third quarter. The company announced on Friday that project revenue generated from chromite concentrate sales was up 108.22% to R37.36-million – a 95.23% increase for... 

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