R/€ = 14.70 Change: -0.05
R/$ = 11.97 Change: 0.00
Au 1317.20 $/oz Change: 2.63
Pt 947.00 $/oz Change: -5.01

Latest News

Encounter offers two new projects to Newcrest

By: Esmarie Swanepoel     Updated 3 minutes ago Junior Encounter Resources has generated and secured two new project opportunities that were being assessed by gold miner Newcrest Mining under an existing project generation alliance. Newcrest and Encounter in December of last year agreed to the project generation alliance, which would see the... 

Nopsema approves Barossa-Caldita plans

By: Esmarie Swanepoel     Updated 44 minutes ago The Barossa-Caldita offshore project has taken a major step forward with Australia’s offshore petroleum regulator approving the project proposal. Oil and gas major Santos on Wednesday reported that the National Offshore Petroleum Safety and Environment Management Authority (Nopsema) had assess... 

Atrum raises cash to fund Elan buy

By: Esmarie Swanepoel     Updated 47 minutes ago Coal miner Atrum Coal will raise some A12.6-million through a share placement and entitlement offer to complete the acquisition of the Elan coking coal project, in Canada, and to start an aggressive exploration programme at Elan South. The miner on Wednesday reported that an initial A$8-million... 

Tres Estradas to cost $84m

By: Esmarie Swanepoel     Updated 50 minutes ago A bankable feasibility study (BFS) into the Tres Estradas phosphate project, in Brazil, has estimated that the project would require a capital investment of $83.9-million to produce a total of 43.5-million tonnes of ore. ASX-listed Aguia Resources said that the project will include an openpit,... 

Rio makes plans to further reduce debt

By: Esmarie Swanepoel     Updated 1 hour 3 minutes ago Mining major Rio Tinto has launched a $2.25-billion debt reduction programme. Under the plan, Rio has issued redemption notices for some $1.4-billion of four series of its US-dollar denominated notes, maturing in 2021 and 2022, and has started invitations to holders outside of the US to sell up... 

Apollo takes interest in Spanish project

By: Esmarie Swanepoel     Updated 1 hour 4 minutes ago ASX-listed Apollo Minerals will acquire a 75% interest in the Aurenere tungsten/gold project, in northern Spain, along strike from the Couflens project, in France. Under the share purchase agreement, Apollo would acquire a majority interest in Spain’s NeoMetal for €100 000 cash upfront, and a... 

South Flank could support greater demand from Asia

By: Esmarie Swanepoel     Updated 1 hour 6 minutes ago The approval of the proposed South Flank mine, in Western Australia, could supply Asia’s growing demand for higher quality iron-ore, mining major BHP’s iron-ore asset president, Edgar Basto said. Addressing the Global Iron Ore & Steel Forecast conference, in Perth, Basto noted that the ongoing... 

South Flank could support greater demand from Asia

G20 agrees to 'monitor' cryptocurrencies but no action yet

By: Reuters     Updated 6 hours ago Financial policymakers from the world's top 20 economies agreed to keep a watchful eye on cryptocurrencies on Tuesday and opened the door to regulating the booming industry at a later stage. Wild swings in the price of Bitcoin, the best known of a myriad of digital currencies issued by private... 

G20 sees need for 'dialogue,' fails to diffuse trade war threat

By: Reuters     Updated 6 hours ago The world's financial leaders rejected protectionism on Tuesday and urged "further dialogue" on trade, but failed to diffuse the threat of a trade war days before US metals tariffs take effect and Washington is to announce measures against China. Finance ministers and central bankers of the... 

G20 sees need for 'dialogue,' fails to diffuse trade war threat
Photo by Reuters
Canada's Finance Minister Bill Morneau

Workers at Chile's Los Pelambres mine extend contract talks - industry group

By: Reuters     20th March 2018 Workers at Antofagasta's Los Pelambres copper mine, in Chile, have opted to extend a period of government mediation in an effort to reach agreement on a new labour contract, an industry group said on Tuesday. Workers in the mine's largest union last week rejected an offer for a new labor... 

Eco Oro pursues $764m suit against Colombia as Angostura project postures to perish

By: Henry Lazenby     20th March 2018 Junior project developer Eco Oro Minerals is pursuing a $764-million judgement against Colombia after a court ruling has cancelled exploration over half its concession as part of national efforts to preserve high-altitude wetlands, known as the Páramos. The Vancouver-headquartered company has... 

Eco Oro pursues $764m suit against Colombia as Angostura project postures to perish
Photo by Eco Oro Minerals
Angostura project, Colombia

Capstone reports Cozamin fatality

By: Henry Lazenby     20th March 2018 Operations at Canadian base metals miner Capstone Mining’s Mexico-based Cozamin mine were temporarily suspended on Sunday, after an electrician lost his life while working on an underground voltage regulator. The worker was immediately transported to a hospital in Zacatecas state, where he later... 

Civil society organisations oppose coal IPP generation licence applications

By: Simone Liedtke     20th March 2018 Civil society organisations will use next week’s public hearings into the generation licence applications for the Thabametsi and Khanyisa power station projects to raise their objections to the new coal-fired power stations that private developers plan to build in Limpopo and Mpumalanga. The Life... 

BlueRock raises £500 000 to expand mining activities

By: Marleny Arnoldi     20th March 2018 Aim-listed BlueRock Diamonds has raised about £500 000, before expenses, through the issue of 33.33-million shares of 1p each.  

Pallinghurst shifts focus to gemstones; Frandsen, Willis to manage Sedibelo interest

By: Marleny Arnoldi     20th March 2018 Its decreasing exposure to steelmaking materials, is prompting natural resources investment company Pallinghurst Resources to focus on coloured gemstones and the company plans to change its name to Gemfields Group, pending shareholder approval. 

Pallinghurst shifts focus to gemstones; Frandsen, Willis to manage Sedibelo interest
Pallinghurst Resources shifts focus to coloured gemstones

Chinese control of cobalt supply risk for EU car industry – Glencore

By: Reuters     20th March 2018 Glencore chief executive Ivan Glasenberg said that the automotive industry is waking up too late to the fact that the Chinese will hold most of the world's global cobalt supply, a key metal for electric vehicle (EV) batteries. "If cobalt falls in hands of the Chinese, yeah you won't see EVs being... 

Rio Tinto fears impact of trade war concerns despite tariff exemptions

By: Reuters     20th March 2018 Global miner Rio Tinto sees fears of a trade war between the US and China weighing on its shares, even after the company won an exemption from US tariffs for its Canadian aluminium exports. Nearly a third of all aluminium consumed by the US is supplied by Rio Tinto from Canada. 

Katoro suspends Imweru feasibility work as it assesses project’s economic viability

By: Anine Kilian     20th March 2018 Aim-listed Katoro Gold is assessing the economic viability of its Tanzania-based Imweru gold project, based on the results of a prefeasibility study and the new mining legislation and regulations being implemented in Tanzania.   The company said in a statement on Tuesday that an integral part of... 

Investec amends Buffalo Coal term loan, revolving credit facility

By: Simone Liedtke     20th March 2018 Coal miner Buffalo Coal Dundee, a wholly-owned subsidiary of TSX-V- and AltX-listed Buffalo Coal, has entered into an amendment to its term loan and revolving credit facility with Investec Bank. Pursuant to the amendment, the working capital facility under the Investec facility was increased by... 

Geographical diversification bodes well for South Africa’s Master Drilling

By: Simone Liedtke     20th March 2018 South Africa-based raisebore driller Master Drilling’s expansion into new markets, particularly its recent entry into India and Australia, should stand it in good stead to benefit from a global uptick in the commodity cycle. The JSE-listed company in November announced its entry into the Indian... 

Mantashe not intent on scrapping Mining Charter 3

By: Anine Kilian     20th March 2018 Mineral Resources Minister Gwede Mantashe on Tuesday stressed the importance of tackling key aspects of the third iteration of the Mining Charter (Mining Charter 3) with urgency and speed. Addressing media at a press briefing, in Pretoria, he said government was not going to start the Mining... 

Mantashe not intent on scrapping Mining Charter 3
Mineral Resources Minister Gwede Mantashe

Polyus adds new metal, more gold to shake 'Russian discount'

By: Bloomberg     20th March 2018 Polyus is targeting more than just gold to help challenge the “Russian discount” it says is tainting its share price. The Russian precious metals miner plans to sell shares on the market and boost gold production, which could vault it into the top five biggest miners in the world as early as... 

Polyus adds new metal, more gold to shake 'Russian discount'
Polyus CEO Pavel Grachev

Zambia targets 1Mt of copper output this year

By: Reuters     20th March 2018 Zambia expects to produce more than one-million tonnes of copper this year after revising its 2017 copper production upwards on the back of stable power supply, a senior ministry of mines official said on Tuesday. Rising copper prices were also expected to boost revenue collection in Africa's... 

Strategic Minerals updates Cornwall tin project resource

By: Creamer Media Reporter      20th March 2018 The inferred mineral resource of the Redmoor tin/tungsten project, in the UK, has increased to 4.5-million tonnes, at 1% tin-equivalent, Aim-listed Strategic Minerals reported on Tuesday. The update, established by mining consultancy SRK Consulting, is nearly double the previously reported... 

Amur to position Russia project as ready source for EV battery market

By: Mariaan Webb     20th March 2018 London-listed Amur Metals is gearing up for an aggressive marketing programme in large nickel consuming nations China, Korea and Japan, as the Kun-Manie nickel sulphide project, in the far east of Russia, is shaping up to be potentially a ready source for the electric vehicle (EV) battery... 

Amur to position Russia project as ready source for EV battery market

China iron-ore, steel extends losses as lofty China inventories weigh

By: Reuters     20th March 2018 Chinese iron-ore prices fell further on Tuesday, a day after posting their biggest daily drop in almost ten months as high inventories and a weak domestic steel market pressure prices. Near-term inventory risks have dampened the outlook for steel and iron-ore prices short term, Argonaut said in a... 

Finders says shareholders should reconsider Eastern Field bid

By: Esmarie Swanepoel     20th March 2018 The directors of takeover target Finders Resources have advised shareholders to consider accepting the offer from suitor Eastern Field Development, after that company obtained a more than 60% interest in the ASX-listed company. Finders told shareholders that while the independent directors of... 

Birimian reports cost savings at Mali lithium project

By: Esmarie Swanepoel     20th March 2018 Lithium hopeful Birimian has reported a number of cost cuts at its Goulamina project, in Mali, following the optimisation of the prefeasibility study (PFS). Birimian on Tuesday reported that transport and handling costs have reduced by an estimated 47%, from $187/t to $100/t, while power costs... 

Darlot restarts production - Red 5

By: Esmarie Swanepoel     20th March 2018 Gold miner Red 5 has restarted production at the Darlot Gold mine, at a reduced production rate. The company earlier this month reported operational issues at the Darlot mill, in Western Australia, warning shareholders that production for the March quarter would be lower than expected. 

Classic finds ore solution in WA

By: Esmarie Swanepoel     20th March 2018 ASX-listed Classic Minerals has inked a non-binding memorandum of understanding (MoU) for the treatment of ore from its Forrestania gold project, in Western Australia. The MoU, signed with Tianye SXO Gold Mining, allows for monthly parcels of between 20 000 t and 30 000 t for a 36-month period,... 

New Hope sees revenue soar

By: Esmarie Swanepoel     20th March 2018 Coal miner New Hope Group has reported a 36% increase in revenue for the first half of 2018, compared with the previous corresponding period. The ASX-listed miner on Tuesday reported revenues of A$509.3-million for the six months to January, compared with the A$374.6-million reported in the... 

Angularli hosts significant resource for Vimy

By: Esmarie Swanepoel     20th March 2018 ASX-listed Vimy Resources has reported a maiden mineral resource of 26-million pounds uranium oxide at its Angularli deposit, at the Aligator River project (ARP), in the Northern Territory. The Angularli deposit is located within the King River-Wellington Range project, which has 1 600 km2 of... 

Glencore announces $1.7bn Rio Tinto coal mine deal

By: Esmarie Swanepoel     20th March 2018 Switzerland-headquartered mining major Glencore will acquire diversified miner Rio Tinto’s 82% interest in the Hail Creek coal mine and adjacent coal resources, in Queensland, as well as a 71.2% interest in the Valeria coal resource for $1.7-billion in cash, the company announced on Tuesday.... 

Glencore announces $1.7bn Rio Tinto coal mine deal

Winmar raises cash for cobalt buy

By: Esmarie Swanepoel     20th March 2018 ASX-listed Winmar Resources will raise some A$3.1-million through a share placement to fund a due diligence on a potential new cobalt acquisition, in the Democratic Republic of Congo. The company on Tuesday said that it will issue more than 425.2-million shares, under its current placement... 

Intermin reports maiden resource at Richmond

By: Esmarie Swanepoel     20th March 2018 Junior explorer Intermin Resources has announced a resource of 2.5-billion tonnes, grading 0.32% vanadium pentoxide for its Richmond project, in Queensland, making it one of the largest vanadium deposits in the world. The company noted that the resource remained open in all directions and was... 

Miners mourn passing of Bob Kennedy

By: Esmarie Swanepoel     20th March 2018 Mining stalwart Robert Kennedy has passed away following a brief illness. Kennedy was the founding chairperson of junior Maximus Resources, founding chairperson of explorer Monax Mining and non-executive chairperson of gold producer Ramelius Resources. 

EV adoption rate reaching critical mass as search for ethical cobalt heats up

By: Henry Lazenby     20th March 2018 Cobalt company Cobalt 27 is seeing an ideal storm brewing for its key commodity as the adoption rate of electric vehicles (EVs) accelerates faster than even optimistic forecasts had speculated. “Cobalt 27 is a proxy for the adoption of the EV,” executive chairperson Anthony Milewski told Mining... 

EV adoption rate reaching critical mass as search for ethical cobalt heats up

US bans transactions with Venezuela's digital currency – White House

By: Reuters     19th March 2018 US President Donald Trump on Monday signed an executive order barring any US-based financial transactions involving Venezuela's new petro cryptocurrency, as US officials warned that it was a "scam" by President Nicolas Maduro's government to further undermine democracy in the OPEC country. "The... 

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