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Rhodium slides to its lowest in more than a decade

By: Reuters Rhodium prices slid to their lowest level in more than a decade on Friday, suffering along with other platinum group metals from perceptions that the metal, widely used in the car industry, is in plentiful supply. Rhodium fell to $790 an ounce on Friday, its weakest since March 2004, extending... 

Metals investors look for miners to cut supplies to lift prices

By: Reuters Investors in industrial metals will keep a close watch on miners' results in coming weeks for possible announcements of production cutbacks that could bolster weak prices. "What will be very important over the next few weeks is whether we start to see some supply responses emerging during the... 

Metals investors look for miners to cut supplies to lift prices
Photo by Bloomberg
Iron-ore

Operations resume at Kenmare’s Moma mine

By: Megan van Wyngaardt Mineral sands miner Kenmare Resources on Friday reported that operations at its Moma mine, in Mozambique, had restarted, following a temporary suspension owing to extralegal industrial action. All employees had returned to work after embarking on the industrial action in response to cost-cutting... 

Black Rock ups Anglo stake to 5.17%, showing faith in the miner

By: African News Agency Black Rock, one of the world’s largest asset managers with $4.7-trillion under management, has increased its shareholding in mining group Anglo American to above 5%, the global diversified miner said on Friday. Black Rock’s shareholding now stands at 5.17% following the purchase of just over 70... 

Bohm to join Tawana board, expects to add value to Mofe Creek

By: Megan van Wyngaardt JSE-listed Tawana Resources appointed Michael Bohm to its board as an independent nonexecutive director, effective August 1. “We are delighted that Bohm has joined the board and recognise the extensive corporate and project development skills he brings to the role, with the particular emphasis of... 

NUM members strike at Amplats’ Twickenham

By: Creamer Media Reporter More than 524 members of the National Union of Mineworkers (NUM) have downed tools at Anglo American Platinum’s (Amplats’) Twickenham mine, in Burgersfort, Limpopo, after Capital Development Services (CDS) served the union with a Section 189A notice as demanded by the Labour Relations Act. In a... 

NUM members strike at Amplats’ Twickenham

Strata-X Energy appoints Greg Hancock nonexecutive director

By: Creamer Media Reporter TSX-V- and ASX-listed Strata-X Energy has appointment Greg Hancock as a nonexecutive director effective immediately, following the resignation of Don Schurman on Wednesday. Strata-X president Tim Hoops said on Thursday that Hancock’s extensive knowledge of corporate finance and capital markets in... 

Supply of quality copper concentrate shrinks, sows seeds of price support

By: Reuters Supply of high quality copper concentrate shrank more than expected in the first half of this year due to output delays in top miner Chile, squeezing the pipeline for metal producers and likely supporting prices later in 2015, traders said. Production from two of four mines in Chile that churn... 

Supply of quality copper concentrate shrinks, sows seeds of price support

McEwen Mining falls below NYSE listing requirements

By: Creamer Media Reporter Dual-listed McEwen Mining has fallen below the NYSE continued listing requirement related to the price of its common stock. "We do not believe that McEwen Mining's current share price is reflective of the true value of the company's assets. Our share price has been under pressure as a result of... 

Western Potash Milestone pilot study reveals reduced risk profile

By: Tracy Hancock A scoping study on TSX-listed Western Potash’s 100%-owned Milestone property, in southern Saskatchewan, has projected a significantly reduced risk profile and allowed for the staged development of the project. TSX-listed Western Potash president and CEO Pat Varas pointed out in a statement on... 

Western Areas debt free as it retires convertible bonds

By: Esmarie Swanepoel Nickel miner Western Areas has become debt free for the first time since 2004, after repaying some A$125-million of convertible bonds from existing cash reserves. MD Dan Lougher told shareholders on Friday that the repayment of the final convertible bonds on their maturity was an important... 

Great Barrier Reef not ‘in danger’ – Unesco

By: Esmarie Swanepoel The Australian government and resources industry have welcomed a decision by the United Nations Educational, Scientific and Cultural Organisation (Unesco) World Heritage Committee not to place the Great Barrier Reef on the ‘in-danger’ list. The 21-member committee this week took a final decision... 

Great Barrier Reef not ‘in danger’ – Unesco

Alamos and AuRico Metals complete merger

By: Creamer Media Reporter Dual-listed Alamos Gold and TSX-listed AuRico Metals have completed their merger, forming the new Alamos, which president and CEO John McCluskey says has transformed Alamos into a leading intermediate producer. “With diversified gold production from three North American mines, a portfolio of... 

Centennial’s Springvale life extension plan receives planning approval

By: Esmarie Swanepoel The mine life at the Springvale coal mine, in New South Wales, has been extended by 13 years after the state’s Planning Assessment Commission (PAC) approved owner Centennial Coal’s extension plans. The existing mine produces 4.5-million tonnes a year of run-of-mine coal from the Lithgow seam,... 

Geopacific raises cash for Cambodia exploration

By: Esmarie Swanepoel Junior metals explorer Geopacific Resources would raise some A$23-million through a share placement and rights issue to fund exploration work at its Kou Sa project, in Cambodia. The ASX-listed company on Friday announced that it would raise an initial A$9-million through the placement of... 

Vogel to step down as EPA chair

By: Esmarie Swanepoel The Western Australian Environmental Protection Authority (EPA) has announced that chairperson Paul Vogel would step down from his position at the end of his term in November. Vogel, who was appointed in 2007, is the second longest serving chairperson in the EPA’s 44-year history. 

Padbury granted mining lease for Telecom Hill

By: Esmarie Swanepoel ASX-listed Padbury Mining has had the mining lease over its Telecom Hill iron project, in Western Australia, approved. Over the past four years, the company has completed multiple exploration and evaluation programmes at the Telecom Hill project, defining a Joint Ore Reserves Committee... 

North American Palladium resumes milling at Lac des Iles

By: Creamer Media Reporter Milling operations at TSX-listed North American Palladium’s (NAP’s) Lac des Iles (LDI) mine, in Ontario, Canada, were successfully restarted on June 26, the company reported on Thursday. "Significant efforts by team members across the company, led by those on site at LDI, have put us in a... 

Mozambique in good shape but must control state firms – IMF 

By: Reuters Strong economic growth in Mozambique is supported by major investments in the coal mining and natural gas sectors but stricter control over state-run firms is necessary, the International Monetary Fund said on Thursday. "Mozambique's continued strong growth performance and low inflation are... 

Mozambique in good shape but must control state firms – IMF

Australia mining shares tumble as iron ore price at two-month low

By: Reuters Shares in Australia's biggest iron-ore miners tumbled on Friday, after the price of the steel making raw material hit the lowest in more than two months amid further evidence of growing shipments to China. Iron ore for immediate delivery to China stood at $55.80/t, its weakest since late April,... 

China to lift ban on entry of miner Vale's mega-ships

By: Reuters China said on Friday it will allow 400 000-deadweight tonne (dwt) ships to dock at its ports, officially ending a more than three-year ban that had effectively shut out Brazilian miner Vale SA's giant vessels. Four domestic ports - Qingdao, Dalian, Tangshan Caofeidian and Ningbo - will be allowed... 

Molycorp gets approval from US bankruptcy court for interim financing

By: Reuters Rare earths miner Molycorp said it received US bankruptcy court approval for interim financing of $22-million to support its operations. At the company's first bankruptcy hearing on June 26, the court denied the company's loan request of $44-million. 

Molycorp gets approval from US bankruptcy court for interim financing

Glencore is latest firm talking with Iran over future oil business

By: Reuters Global mining and commodity trading firm Glencore met with Iranian officials in Tehran to discuss possible business deals should economic sanctions be lifted, industry sources said on Thursday. Iran is negotiating with the US and five other big powers - Britain, China, France, Germany and Russia... 

Govt, private sector working constructively to tackle acid mine drainage in Wits basin

By: Ilan Solomons Although acid mine drainage (AMD) in the Witwatersrand basin is the result of a legacy of environmental mismanagement of water resources by mines and lax enforcement of regulations by government, these role-players are working to constructively address this problem, says Department of Water and... 

Govt, private sector working constructively to tackle acid mine drainage in Wits basin

We need police leaders with integrity - analyst

By: News24Wire If situations like Marikana were to be prevented in the future, South Africa needed police leaders with integrity who did not make decisions based on politics, an analyst said on Thursday. "To move forward and really see a change in the police and the police culture; to reduce police misconduct;... 

We need police leaders with integrity - analyst

South Africa should work together to uplift local economy

By: Creamer Media Reporter Creamer Media's Leandi Kolver speaks to Mining Weekly editor Martin Creamer about the state of the South African economy and mineral beneficiation. 

South Africa should work together to uplift local economy

Asante appoints VP production and development for Kubi

By: Creamer Media Reporter Dual-listed Asante Gold has appointed Bash Ahmed director and VP production and development for its Kubi gold project, in Ghana, effective immediately. “We welcome Ahmed to the Board, and look forward to working closely with him to advance Kubi to production,” Asante noted in a statement on... 

StratMin offloads entire sub-94% graphite inventory

By: Natalie Greve Aim-listed StratMin – London's only listed graphite mining and production company – has sold, in collaboration with its new offtake and joint venture partner Tirupati Carbons & Chemicals Group, its entire inventory of sub-94% carbon-in-graphite (CIG) finished product. This followed StatMin’s... 

EFF to lay criminal charges against deputy president Ramaphosa, ministers 

By: African News Agency The Economic Freedom Fighters (EFF) said on Thursday it would lay charges against deputy president Cyril Ramaphosa, former police minister Nathi Mthethwa and top police management for the deaths of 44 people in Marikana three years ago. ”We are opening these cases because we believe only a proper... 

EFF to lay criminal charges against deputy president Ramaphosa, ministers
Photo by EFF
EFF leader Julius Malema

NUM, Samancor conclude 3-yr wage deal

By: Creamer Media Reporter The National Union of Mineworkers (NUM) and chrome miner Samancor Chrome have concluded a three-year wage agreement for employees at the Samancor Western Chrome and Samancor Eastern Chrome mines in Rustenburg. Employees would receive wage increases ranging from 10.7% to 14%, depending on the... 

Anglo plans major job cuts, sources say, as investors push for bolder overhaul

By: Reuters Anglo American is planning to cut between 5% and 20% of staff at head offices around the world, sources close to the matter said, in an effort to keep shareholders on side and respond to a commodity price rout that has hit profits. The mining company, which employs some 151 200 staff globally, is... 

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