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Latest News

Brown: Unless economy in hands of majority, it's going nowhere

By: News24Wire      Updated 22 minutes ago The economy must be controlled by the black majority, said Public Enterprises Minister Lynne Brown. Brown spoke to media briefly following a closed meeting with the Black Business Council (BBC) in Sandton on Tuesday. 

Ghana's gold output up 38.6% at 1.99 Moz in first half

By: Reuters     Updated 28 minutes ago Ghana's gold output rose 38.6% in the first half of 2016 to 1.99-million ounces from 1.44-million ounces a year ago, boosted mainly by new mining operations, the Ghana Chamber of Mines said on Tuesday. Africa's second-largest gold miner after South Africa earned $2.43-billion from gold in the... 

Emerald to take full ownership of Renaissance

By: Esmarie Swanepoel     Updated 56 minutes ago ASX-listed Emerald Resources has moved to take full ownership of takeover target Renaissance Minerals, after acquiring an interest of more than 90% of the company. The two firms in July this year announced merger plans, which saw Emerald acquire all the shares in Renaissance that it did not... 

Karoon makes a play in Brazilian oil field

By: Esmarie Swanepoel     Updated 58 minutes ago Melbourne-based oil and gas explorer Karoon Gas Australia would spend up to $20.5-million to gain a 35% equity interest in the Santos Basin exploration blocks, offshore Brazil. Karoon has entered an agreement with Pacific Exploration and Production Corporation to acquire an interest in the five... 

South Australia to review mining legislation

By: Esmarie Swanepoel     Updated 1 hour ago The Association of Mining and Exploration Companies (Amec) has welcomed the South Australian government’s decision to review its mining laws. Mineral Resources and Energy Minister Tom Koutsantonis hascalled on South Australians to provide input into a comprehensive review of the laws guiding the... 

South Australia to review mining legislation

Honeymoon moves to PFS

By: Esmarie Swanepoel     Updated 1 hour 12 minutes ago An expansion study into the Honeymoon uranium project, in South Australia, has given owner Boss Resources the necessary confidence to move to a prefeasibility study phase, with a decision to mine expected by the end of 2017. The Honeymoon project consists of two main exploration areas and... 

Exterra pushes button on Second Fortune

By: Esmarie Swanepoel     Updated 1 hour 14 minutes ago The board of junior Exterra Resources has approved plans to restart mining at the Second Fortune gold mine, in Western Australia, on the back of higher gold prices. Exterra in February announced that the upward swing in the Australian gold price had significantly increased the project’s... 

MMG offloads Avebury

By: Esmarie Swanepoel     Updated 1 hour 23 minutes ago Metals miner MMG has executed a share sales agreement to divest of its Avebury nickel mine, in Tasmania, in a deal valued at A$25-million. The agreement, with privately held Dundas Mining, would see MMG paid an initial deposit of A$1.5-million on the signing of the agreement, with a further... 

Mining Commissioner issues final order on Cliffs bid over KWG rail claims

By: Henry Lazenby     Updated 7 hours ago The Mining and Lands Commission of Ontario has made a final order paving the way for an application to the Ontario Ministry of Natural Resources, which was made by Cliffs Natural Resources in early 2012, for the grant of an easement over the claims of Canada Chrome Corporation, to proceed. The... 

Austral restarts Casposo precious metals mine with new resource update

By: Henry Lazenby     Updated 7 hours ago ASX- and newly TSX-V-listed Austral Gold is restarting operations at the Argentina-based Casposo gold/silver project, based on the results of an updated reserve estimate. As at June 30, Vancouver-based Austral reported compliant proven and probable reserves of 972 000 t grading 2.53 g/t gold and... 

Aquila discovers new ore zone at Back Forty

By: Henry Lazenby     28th September 2016 TSX-listed project developer Aquila has made a new discovery of gold and zinc mineralisation near its Back Forty project, in Michigan's Upper Peninsula, the company reported on Tuesday. The Toronto-headquartered company reported the assay results of two discovery holes of mineralisation that... 

Chile regulator approves $19m environment plan at KGHM copper mine

By: Reuters     27th September 2016 Chile's environmental regulator said on Tuesday it has approved a $19.1-million mitigation plan presented by KGHM's Sierra Gorda copper mine, after it found nine infractions at the operation. In March, the SMA environmental regulator pressed charges against Sierra Gorda, saying the copper mine... 

Teck’s diversified business model poised to drive cash flow, profit as commodities rise

By: Henry Lazenby     27th September 2016 Canada’s largest diversified miner Teck Resources is positioned to benefit from rising commodity prices owing to its leverage to stronger steelmaking coal and zinc markets, and benefit from the weaker Canadian dollar. VP of investor relations and strategic analysis Greg Waller told the Deutsche... 

Teck’s diversified business model poised to drive cash flow, profit as commodities rise
Photo by Bloomberg
The zinc, lead and silver smelter of Vancouver-based diversified miner, Teck Cominco, the world's largest zinc producer _ Bloomberg

In first Canadian foray, Denham enters into $65m partnership with project developer JDS Silver

By: Henry Lazenby     27th September 2016 Private equity firm Denham Capital has agreed to back private project developer JDS Silver by providing $65-million to complete construction and bring into production the Silvertip mine, in Northern British Columbia, the company said Tuesday. At a 30% zinc-equivalent grade, the Silvertip project... 

Renewables not cost competitive until mid-century – Glencore

By: Reuters     27th September 2016 Renewable energy will not be cost competitive with fossil fuels until 2050, Glencore said on Tuesday, much later than energy organisations forecast and supporting the mining and trading giant's case for continued investment in coal. Glencore has said coal is still an investment opportunity,... 

Mosaic’s radioactive sinkhole problem could mean mine delays

By: Bloomberg     27th September 2016 As the world’s largest producer of phosphate fertiliser, Mosaic is used to digging up parts of Florida to recover the mineral. But lately, one particular hole is causing the company some headaches. A sinkhole 14 m wide has opened up in a pile of mining waste at the company’s New Wales site, in... 

Mosaic’s radioactive sinkhole problem could mean mine delays

Illegal mining out of control – Mine Rescue Services

By: Natasha Odendaal     27th September 2016 A surge in the number of mine rescues and recoveries at abandoned and disused operations is an indication that the illegal mining scourge is starting to spiral out of control, and the recorded incidents are just the tip of the iceberg. The Chamber of Mines and Mine Rescue Services (MRS) on... 

Illegal mining out of control – Mine Rescue Services
Photo by Duane Daws
Mine Rescue Services CEO Christo de Klerk

Gold discovery badly behind replenishment

By: Martin Creamer     27th September 2016 Gold is being discovered at a fraction of the rate needed to replenish reserves. In the last 16 years, the gold-mining industry has failed to replace more than half the ounces mined. 

Gold discovery badly behind replenishment
Photo by Randgold
Randgold graph showing discovery collapse

South Africa’s diamond industry could learn from Belgium tax regime – Blom

By: Megan van Wyngaardt     27th September 2016 South Africa needs a fair and logical diamond tax regime that is aligned with international standards, as well as a business environment that encourages local beneficiators to buy and produce quality diamonds. Speaking at the yearly Diamond Indaba in Midrand, World Federation of Diamond Bourses... 

South Africa’s diamond industry could learn from Belgium tax regime – Blom
Photo by Duane Daws
Ernie Blom

CoM makes case for mining-affected communities

By: Megan van Wyngaardt     27th September 2016 The Chamber of Mines (CoM) has recommended that a portion of mining royalties be ring-fenced to benefit mining-impacted communities. Presenting at the Human Rights Commission National Investigative Hearings on the underlying socioeconomic challenges of mining-affected communities, it added that... 

Implats refinery workers in South Africa strike over pay

By: Bloomberg     27th September 2016 Members of a union representing more than half the worker’s at Impala Platinum Holdings' refinery in South Africa started a strike Tuesday after talks over pay and benefits broke down. About 500 people who are members of the National Union of Mineworkers didn’t report for duty after five rounds... 

OceanaGold's shares hit on Philippine audit outcome

By: Mariaan Webb     27th September 2016 Shares in Melbourne-headquartered OceanaGold fell 8% on Tuesday before trading was halted, after the Philippine government’s nationwide environmental mine audit recommended the suspension of the company’s flagship Didipio gold and copper mine on the island of Luzon. The environmental check-up,... 

OceanaGold's shares hit on Philippine audit outcome
The Philippines government has recommended the suspension of Australian miner OceanaGold's Didipio mine.

Edenville concludes Rukwa bulk sampling, awaits results

By: Natasha Odendaal     27th September 2016 Aim-listed Edenville Energy has completed its bulk sampling programme at the Rukwa coal-to-power project, in Tanzania, with 20 t of samples being delivered to SGS Laboratories, in Johannesburg, South Africa. While the results from testing are expected in October, the sampling at three different... 

Acacia resolves Bulyanhulu process plant troubles

By: Natasha Odendaal     27th September 2016 LSE-listed Acacia Mining has resumed full operations at the Bulyanhulu process plant, in north-west Tanzania, after resolving technical difficulties following a routine maintenance shutdown, with full-year production guidance remaining unchanged. The London-headquartered group reported... 

Resolute raises A$150m for production growth

By: Esmarie Swanepoel     27th September 2016 Gold miner Resolute Mining would raise A$150-million through a share placement to fund long-life production growth. The ASX-listed company said on Tuesday that it would place a minimum of 76.5-million new shares, priced at A$1.96 a share, to raise the funds. The placement price represented a... 

Vimy starts early works at Mulga Rock

By: Esmarie Swanepoel     27th September 2016 Uranium developer Vimy Resources has received backing from the Western Australian Environmental Protection Authority (EPA) to start preliminary work at its Mulga Rock project. The work involves an upgrade to the existing site access road to allow for heavy equipment to be brought to site, and the... 

Crusader shakes tin to advance projects

By: Esmarie Swanepoel     27th September 2016 Gold developer Crusader Resources has raised A$8.5-million in an oversubscribed placement, allowing the company to accelerate the development of its Juruena gold project, in Brazil, and to complete the bankable feasibility study on the Borborema project. The placement, to institutional and... 

What it takes to make a conflict-free smartphone

By: Bloomberg     27th September 2016 On a moonscaped rise in eastern Democratic Republic of Congo, thousands of men and women carve a heavy, off-white mineral away from the hillside with pickaxes, then wash it with shovels in man-made streams and haul it down the hill in 110-pound sacks. They are the sort of independent miners that... 

What it takes to make a conflict-free smartphone

Michelmore steps down as MMG chief

By: Esmarie Swanepoel     27th September 2016 Metals miner MMG has launched a succession process after CEO and executive director Andrew Michelmore announces his intention to retire during 2017. The succession process will consider both internal and external candidates. 

Michelmore steps down as MMG chief
Photo by Reuters
Andrew Michelmore

Kibaran eyes downstream processing in Tanzania

By: Esmarie Swanepoel     27th September 2016 ASX-listed Kibaran Resources has started a feasibility study on the downstream processing of its graphite product from its Epanko project, in Tanzania. The feasibility study will include the production of battery-grade graphite for the lithium-ion battery market. 

Iron Mountain buys into bauxite

By: Esmarie Swanepoel     27th September 2016 Junior Iron Mountain Mining has acquired a 50% interest in Au Capital Mining, which owns two prospecting licences in the Solomon Islands. Iron Mountain said on Tuesday that it had paid a nonrefundable option fee of A$100 000, granting the company a long option period and enabling it to complete... 

Iron Mountain buys into bauxite

Kinross sells 4.7% stake in Lundin

By: Henry Lazenby     27th September 2016 Gold producer Kinross Gold has agreed to sell a 4.7% stake in Lundin Mining to GMP Securities, amounting to 5.5-million common shares at C$5.60 apiece. Kinross on Monday said the deal was part of its portfolio management strategy and would generate C$30.8-million in gross proceeds. 

Yamana applies to annul second arbiter report in Auriemma proceedings

By: Henry Lazenby     27th September 2016 Yamana Gold has applied to annul a second arbiter report regarding the award to Dr Ricardo Auriemma in litigation dating back to 2003. In May 2013, the Argentinean Commercial Court of Appeals ruled in favour of Auriemma on the breach-of-agreement case against Northern Orion Resources (GNOR),... 

Teck submits regulatory application for $5bn Quebrada Blanca Phase 2

By: Henry Lazenby     27th September 2016 Canadian diversified miner Teck Resources is moving ahead with the $4.5-billion to $5-billion second-phase development of its Quebrada Blanca (QB) copper mine, in Northern Chile. The company has submitted the social- and environmental-impact assessment for the project to the Tarapacá... 

Brazil's Samarco misses bond payment, has 30-day remedy period

By: Reuters     26th September 2016 Samarco Mineração, the Brazilian iron-ore mining joint venture that suspended operations in November following a dam disaster, missed an interest payment on a $500-million bond that was due on Monday, trustee Bank of New York Mellon said. As a result, Samarco will have 30 days to make the... 

As need to reach foreign markets intensifies, Canadian oil industry isolated from Treaty Alliance threats

By: Henry Lazenby     26th September 2016 Global demand for energy is expected to rise some 32% by 2040 and more than a quarter of that increase will be met by oil, raising the stakes for the Canadian oil industry to diversify its markets. According to the Canadian Association of Petroleum Producers (CAPP), the lion’s share of demand... 

As need to reach foreign markets intensifies, Canadian oil industry isolated from Treaty Alliance threats

Brazil's CSN, CBSteel in talks over ore unit stake – sources

By: Reuters     26th September 2016 Cia Siderúrgica Nacional is considering selling part of its stake in Congonhas Minérios, Brazil's No 2 iron-ore producer, to China Brazil Xinnenghuan International Investment, two people familiar with the deal said on Monday. According to the people, the Chinese mill known as CBSteel is... 

Diamcor achieves further diamond sale successes in Q2

By: Henry Lazenby     26th September 2016 South Africa-focused project developer Diamcor Mining sold 8 274.47 ct of diamonds in the second quarter ended September 30. Two tenders were held during the quarter, raising proceeds of $1.17-million or $141.03/ct. 

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