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Paringa looks at second mine at Buck Creek

By: Esmarie Swanepoel     Updated 3 minutes ago Coal hopeful Paringa Resources would start a technical study on a second mine at its Buck Creek operation, in the US, before releasing the results of a prefeasibility stud (PFS) on the first mine. The Buck Creek mining complex includes the Buck Creek No 1 mine area, previously known as the Buck... 

Platreef development hit by ‘trouble-makers’

By: Natasha Odendaal     Updated 56 minutes ago The development of the latest major new underground, mechanised platinum mine, near Mokopane, in Limpopo, has been marred by a “small group” of people instigating animosity towards the emerging operation. However, TSX-listed Ivanhoe Mines, led by founder Robert Friedland, on Thursday vowed it... 

Platreef development hit by ‘trouble-makers’
Photo by Duane Daws
Ivanhoe Mines founder Robert Friedland

Mponeng stoping, development activities halted following fatality

By: Leandi Kolver     Updated 1 hour 27 minutes ago Stoping and development activities at gold miner AngloGold Ashanti’s Mponeng mine, near Carletonville, have been suspended following the death of an employee. The deceased, a scraper winch operator, had been fatally injured in a fall-of-ground incident on Tuesday. 

Glencore Finance extends, increases Katanga loan facilities

By: Leandi Kolver     Updated 1 hour 36 minutes ago TSX-listed Katanga Mining on Wednesday announced the execution of extended and increased loan facilities with Glencore Finance. Katanga said the maturity date of its existing term loan facility agreement with Glencore Finance, which had been used to fund, in substantial part, the redemption of... 

Goldman, BASF, HSBC accused of metals price fixing – US lawsuit

By: Reuters     Updated 2 hours 7 minutes ago Goldman Sachs Group Inc, Germany's BASF SE and two other big platinum and palladium dealers have been sued in the United States in what the plaintiff's law firm called the first nationwide class action over alleged price-fixing of the metals. In a complaint filed on Tuesday in the US District... 

Chile mining sector to double energy demand by 2025

By: Reuters     Updated 2 hours 10 minutes ago Chile's sprawling mining industry, responsible for around a third of global copper output, is set to nearly double its electricity use by 2025 as multibillion-dollar investments come to fruition, state copper commission Cochilco said on Wednesday. Top copper producer Chile has seen energy costs... 

Resources Watch

By: Creamer Media Reporter      Updated 2 hours 12 minutes ago This week: Technology initially developed for the oil and gas industry enables the visualisation of the subsurface of an entire mining area. The Central African Republic is the new ‘blood diamond’ hub. And, technology slashes power use at Glencore's huge South African chrome smelter. 

Resources Watch

Miners ask court to lift ban on uranium mining near Grand Canyon

By: Reuters     Updated 2 hours 14 minutes ago The American mining industry is asking a federal appeals court to overturn a ban on new uranium mining claims near the Grand Canyon in a legal battle with environmentalists over impacts on the premier US park. In 2012, the Obama administration set aside for 20 years new mining claims and limited... 

Freeport Indonesia says copper output at 80% of capacity

By: Reuters     Updated 2 hours 17 minutes ago Production at Freeport-McMoRan Inc's huge Indonesian copper mine has yet to return to full capacity after an export dispute with the government and disruption related to workers' safety concerns, the local CEO said on Thursday. Relations between Freeport and its workforce remain strained after a... 

AMVI modifying DSO operations to increase Agata revenue

By: Leandi Kolver Joint venture company Agata Mining Ventures (AMVI) was modifying its high-iron/low nickel direct shipping ore (DSO) operations to include shipments of ore containing higher nickel content to increase revenues at its Agata nickel laterite project in the Philippines. AMVI, in which TVI Resource... 

Etango heap leach plant construction on track

By: Creamer Media Reporter ASX-listed Bannerman Resources on Wednesday said the construction of its Etango heap leach demonstration plant, in Namibia, was on track for completion early in 2015. The activities completed since awarding the contracts in September included the establishment of the site infrastructure,... 

Allied Nevada optimises Phase 1 of Hycroft mill expansion

By: Mariaan Webb US precious metals miner Allied Nevada Gold has lowered the cost of the first phase of its Hycroft mill expansion project by reviewing the construction sequence of infrastructure and other components. The company said on Wednesday that it could begin operation of the first line of the mill for a... 

Allied Nevada optimises Phase 1 of Hycroft mill expansion

ABG shareholders approve name change to Acacia Mining

By: Leandi Kolver African Barrick Gold (ABG) shareholders on Wednesday voted in favour of the company’s proposed name change to Acacia Mining, with the new name to come into effect on Thursday. ABG earlier this month explained that its core objective was to develop a business that was recognised as a leading... 

Cartesian invests in IC Potash subsidiary

By: Creamer Media Reporter Cartesian Capital Group has made a $10-million strategic investment in project developer IC Potash (ICP) subsidiary Intercontinental Potash Corp USA (ICPUSA), which owns the Ochoa sulphate of potash project, in New Mexico. Cartesian had acquired 500 000 class A preferred shares of ICPUSA at a... 

SA coal-related R&D inadequate – ASSAf

By: Leandi Kolver South Africa’s investment in coal-related research and development (R&D) was inadequate, given the fact that coal would continue to dominate the country’s energy supply for the foreseeable future, a recent study by the Academy of Science of South Africa (ASSAf) showed. In its study, titled ‘The... 

SA coal-related R&D inadequate – ASSAf

Forsys reports positive metallurgical results for Namibia project

By: Creamer Media Reporter SGS South Africa has completed a metallurgical study on Namibia-focused uranium explorer Forsys Metals’ Norasa project, which comprises the Valencia and Namibplaas projects. The metallurgical study was a major component of the feasibility study (FS) for the project, which was being prepared by... 

Botswana must diversify – Khama

By: Anine Vermeulen Botswana should focus on establishing a diamond sector that was second to none, President Ian Khama said during the thirteenth Confederation of Commerce, Industry and Manpower in Maun, this week. He noted that the relocation of diamond aggregation and sales to Gaborone, as well as the development... 

Namib DFS shows low risk and robust economics

By: Leandi Kolver The definitive feasibility study (DFS) for Aim-listed North River Resources’ Namib lead/zinc/silver mine, in Namibia, has confirmed that the project is technically low risk and economically robust, the company said on Wednesday. It added that a strong after-tax internal rate of return of more... 

IFM Section 54 notice lifted, 4 000 t of production lost

By: Leandi Kolver International Ferro Metals (IFM) on Wednesday announced that the Section 54 notice for its two ferrochrome furnaces and pelletiser has successfully been lifted following a meeting with the Department of Mineral Resources. The Section 54 notice had been issued last week following a health and... 

SA meets more nuclear vendors amid ‘costly diversion’ criticism

By: Terence Creamer The Department of Energy (DoE) confirmed on Wednesday that the second nuclear vendor parade workshop, which took place at a venue in the Drakensberg, had been concluded with delegations from China, France, South Korea and the US. The first such workshop, which was also held in the Drakensberg in... 

SA meets more nuclear vendors amid ‘costly diversion’ criticism
Photo by Duane Daws
Professor Anton Eberhard

Lonmin closes BEE equity gap

By: Martin Creamer Platinum-mining company Lonmin on Wednesday completed three transactions that take its black economic empowerment (BEE) shareholding to the 26% laid down by South African law. The London- and Johannesburg-listed company said the three transactions had been concluded with employees and near-mine... 

Lonmin closes BEE equity gap
Photo by Duane Daws
Ben Magara

BHP misses out to China's Jinchuan on nickel pact

By: Reuters BHP Billiton's struggling Nickel West smelter in Australia lost out on a potential key supply source of nickel when rival Jinchuan Group of China signed a purchase agreement with an Australian miner. Australia's no. 3 nickel miner, Western Areas, on Wednesday said it reached a two-year agreement... 

Richland exits Tanzania, narrows focus on Australia

By: Natasha Odendaal A day after announcing that it had gained some control over illegal mining activities at its Tanzanian operations, Aim-listed Richland Resources has agreed to sell the embattled TanzaniteOne Mining Limited (TML) to Sky Associates for $5.1-million. The gemstone producer and developer, following a... 

PTM seeks determination of scale of Waterberg deposit

By: Natasha Odendaal TSX- and NYSE-listed Platinum Group Metals (PTM) sought to determine the scale of the Waterberg deposit as it progressed the exploration of the Waterberg Joint Venture (JV) in South Africa’s Bushveld Igneous Complex. The group remained focused on further exploration and engineering on the newly... 

JV nears completion of Agata nickel processing plant DFS

By: Creamer Media Reporter TSX-V- and Frankfurt-listed Mindoro Resources says its subsidiary, Agata Processing Inc (API), expects to complete a definitive feasibility study (DFS) for a nickel processing plant at the Agata project, in northern Mindanao, Philippines, by the end of this year. TVI Resource Development (TVIRD)... 

Osisko buys more shares in Virginia Mines

By: Natasha Odendaal As TSX-listed Osisko Gold Royalties geared up to combine its business with TSX-listed Virginia Mines, the Montreal-headquartered gold-focused royalty and stream company acquired a further one-million shares in Virginia Mines. Osisko, which still had to complete the acquisition of 2.38-million... 

Rochester royalty earns Rye Patch $2.61m in first nine months of 2014

By: Creamer Media Reporter Junior miner Rye Patch on Wednesday said the Rochester mine net smelter return (NSR) had earned it $2.61-million, or about C$2.85-million, in the first three quarters of this year. The Rochester mine paid a 3.4% NSR royalty quarterly to Rye Patch on each ounce of silver and gold produced and sold. 

SAIL wants Indian coal blocks to be awarded by govt

By: Ajoy K Das Even as the Indian government gets ready to launch its maiden allocation of coal blocks through competitive auction, demands have surfaced that the resource should be allocated through a ‘government dispensation route’, or based on government’s recommendations. Leading the charge was Steel... 

Klondex Mines receives $10.3m from the exercise of warrants

By: Creamer Media Reporter Nevada-focused narrow-vein gold miner Klondex Mines has raised $10.3-million through the exercise of warrants by shareholders during October and November. About 5.86-million common share purchase warrants were exercised at a price of $1.75 a share. 

Decline in commodity prices puts brakes on resource projects

By: Esmarie Swanepoel The latest data from the Bureau of Resources and Economics (BREE) has revealed that the downward spiral in commodity prices has resulted in an increase in the number of resource projects either being delayed or deferred. BREE stated in its latest Resources and Energy Major Projects report that... 

Decline in commodity prices puts brakes on resource projects

WPG buys out JV partner in Tunkillia gold project

By: Esmarie Swanepoel Junior developer WPG Resources has taken full ownership of the Tunkillia gold project, in South Australia, after reaching an agreement with joint venture partner Helix Resources. WPG acquired a 70% shareholding in the Tunkillia project at the end of May this year, through a transaction with... 

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