http://www.miningweekly.com
R/€ = 15.85 Change: 0.04
R/$ = 13.33 Change: -0.10
Au 1300.83 $/oz Change: -12.14
Pt 941.50 $/oz Change: -2.50
 

Latest News

Petra’s FY17 profit down 69% y/y; company restarts Tanzania mine

By: Creamer Media Reporter      18th September 2017 The delayed ramp-up of expansion programmes, rising on-mine cash costs and a stronger rand have negatively impacted on LSE-listed Petra Diamonds’ financial results for the 2017 financial year, with net profit down 69% year-on-year to $20.7-million. Cash generated from operations was down 10%... 

Dalradian considering ore sorting at Curraghinalt

By: Mariaan Webb     18th September 2017 Gold developer Dalradian Resources is considering investing in technology to separate high-grade gold from waste at the Curraghinalt project, in Northern Ireland, using ore sorting technology. The company recently had a bulk sample of 5 t of mineralised material grading 9.52 g/t tested by... 

Dalradian considering ore sorting at Curraghinalt

Davenport gains access to South Harz exploration database

By: Mariaan Webb     18th September 2017 Australian junior Davenport Resources has been issued a notarised certificate, which confirms its acquisition of three potash licences in the South Harz region of Germany and allows the company access to historic exploration data. Davenport MD Chris Bain said on Monday that its exploration team,... 

Black Mountain divests of silver assets to focus on vermiculite

By: Esmarie Swanepoel     18th September 2017 ASX-listed junior Black Mountain Resources has divested of its non-core US silver assets, in a bid to focus its attention on its Namakara vermiculite mine, in Uganda. The company on Monday told shareholders that it had divested of its 70% stake in two prospective US silver mines in Montana and... 

Avanco revises Jaguar deal

By: Esmarie Swanepoel     18th September 2017 ASX-listed junior Avanco Copper has revised its agreement with TSX-listed Jaguar Mining over the CentroGold project, in Brazil. The two companies in 2016 entered into an A$8.45-million earn-in agreement under which Avanco could take full ownership of the project through various instalments. 

Research consortium to spend A$14.6m on South Australian copper

By: Esmarie Swanepoel     18th September 2017 he South Australian government will spend A$4-million over the next four years on a research consortium, led by the University of Adelaide, to develop advanced technologies to boost copper production and to develop a globally competitive mining technology services sector. The University of... 

Sumatra signs exploration deal at Tembang

By: Esmarie Swanepoel     18th September 2017 ASX-listed Sumatra Copper & Gold has formed a strategic alliance with Indonesian gold producer Merdeka Copper Gold to extend the mine life and possibly increase production from the Tembang gold-silver operation, in Indonesia. Merdeka will fund ongoing exploration work at Tembang, spending an... 

Gascoyne mandates banks for debt financing

By: Esmarie Swanepoel     18th September 2017 Gold developer Gascoyne Resources has mandated the Commonwealth Bank of Australia and the National Australia Bank to arrange a debt facility of up to A$60-million to fund the development of the Dalgaranga gold project, in Western Australia. “Mandating tier 1 Australian lenders for the debt... 

MZI approves new operating plan for WA mineral sands mine

By: Esmarie Swanepoel     18th September 2017 The board of mineral sands miner MZI Resources has approved a higher throughput operating plan for its Keysbrook mine, in Western Australia, aimed at increasing production and reducing unit cash costs. The plan will result in a throughput increase at Keysbrook from four-million tonnes a year... 

Ramelius buys Edna May from Evolution for A$90m

By: Esmarie Swanepoel     18th September 2017 Gold miner Ramelius Resources has emerged as the victor in the bid for fellow-listed Evolution Mining’s Edna May mine, in Western Australia. Evolution last week told shareholders that the company was evaluating the sale of the Edna May gold mine, after receiving a number of offers from... 

African copper, nickel mines on Coal India radar as miner diversifies

By: Ajoy K Das     18th September 2017 Having decided to evolve into a diversified resource major from a pure play coal miner, Coal India Limited (CIL) has identified copper and nickel mines in Africa for its maiden overseas foray into noncoal minerals. KPMG has been appointed to prepare the roadmap that will see CIL emerge as a... 

Gold miners rally against new WA gold royalty

By: Esmarie Swanepoel     18th September 2017 Western Australian gold miners on Monday rallied in Kalgoorlie to protest the state government’s plans to impose a new royalty on the gold sector. Treasurer Ben Wyatt earlier this month announced that a tiered royalty rate would be introduced from January 1, to assist the government in repairing... 

Gold miners rally against new WA gold royalty

Tanzania charges officials with economic sabotage over seized diamonds

By: Reuters     18th September 2017 Tanzanian prosecutors charged two government officials on Friday with economic sabotage after they were accused of undervaluing an export-bound consignment of diamonds seized from a mine majority owned by London-listed Petra Diamonds. Archard Kalugendo, director of the State-run diamond and... 

Tanzanian leader's war for taxes puts economy in firing line

By: Bloomberg     18th September 2017 Tanzanian President John Magufuli’s deepening dispute with companies he accuses of being tax cheats is rattling investors and dimming the allure of one of Africa’s fastest-growing economies. Since taking office in late 2015, Magufuli has been on a drive to increase revenue from natural resources... 

Tanzanian leader's war for taxes puts economy in firing line
Photo by Reuters
Tanzanian President John Magufuli

Freeport seen facing more battles over world's top gold mine

By: Bloomberg     18th September 2017 The landmark deal that forced Freeport-McMoRan to cede controlling interest in the world’s biggest gold mine and second-largest copper mine to Indonesia may not be the final outcome as both sides prepare for a politically charged fight over the price of the asset and how it will be run, according... 

Rockwell perplexed as BRP opts to place 3 subsidiaries into liquidation, despite possible offer

By: Henry Lazenby     18th September 2017 Canadian alluvial diamond miner Rockwell Diamonds remains in the dark as to why business rescue practitioner (BRP) Metis Strategic Advisors had chosen to file a motion in the Kimberley High Court, on Thursday, to place the company's three subsidiaries back in provisional liquidation, when a... 

Sibanye-Stillwater lifts PGM grade at brownfield Stillwater mine extension

By: Henry Lazenby     15th September 2017 Recently minted Sibanye-Stillwater has successfully extended the platinum group metals (PGM) mineralisation at the Blitz project, in Montana – a brownfield extension of the existing Stillwater mine. The company announced on Friday that mineralised ore at the Blitz project had been intersected in... 

Albemarle asks Chile to raise lithium production limit

By: Reuters     15th September 2017 Albemarle has asked Chile to increase the US miner's lithium production limit in the country, it said on Friday, amid high global prices for the mineral used in batteries as demand for electric vehicles surges. The company asked state development agency CORFO to raise its lithium production... 

Bullish outlook for Canadian crude, natural gas provides investment opportunities

By: Henry Lazenby     15th September 2017 Two reports issued this week point to a significantly increased global appetite for fossil fuels like oil and gas, presenting an investment opportunity for energy speculators. While renewables are forecast to be the fastest-growing energy source, fossil fuels will continue to be important and... 

Bullish outlook for Canadian crude, natural gas provides investment opportunities
Photo by Auspice Capital Advisors
Auspice Capital Advisors founder and chief information officer Tim Pickering

Greece issues more Olympias permits to Eldorado

By: Henry Lazenby     15th September 2017 Eldorado Gold’s increased pressure on the Greek government seems to be paying off, with the government issuing two more permits for the Canadian miner's Olympias project. Vancouver-based Eldorado confirmed on Friday that it had received the approval of the technical study for the old Olympias... 

Greece issues more Olympias permits to Eldorado
Eldorado Gold CEO George Burns

Rio Tinto CFO to retire next year

By: Creamer Media Reporter      15th September 2017 Diversified miner Rio Tinto announced on Friday that Chris Lynch would retire as CFO by the end of September next year. Lynch joined the Rio Tinto board in September 2011 and was appointed CFO in April 2013. 

Chinese group buys auctioned Mapochs mine

By: Martin Creamer     15th September 2017 The provisionally liquidated Mapochs mine has been sold under the hammer to International Resources Limited (IRL) of China, BiddersChoice MD Pieter Geldenhuys confirmed to Mining Weekly Online on Friday. In February last year, the Evraz Highveld Steel and Vanadium business rescue practitioners... 

Chinese group buys auctioned Mapochs mine
The Mapochs mine

Nelson Mandela Bay chamber says 19.9% power hike would be ‘crippling’

By: Terence Creamer     15th September 2017 The Nelson Mandela Bay Business Chamber has expressed extreme disappointment with Eskom’s application for a 19.9% tariff increase from April 1, 2018, warning that such a hike would be “crippling” to business and the economy. Should the increase be approved it could translate to a 27.5% municipal... 

Nelson Mandela Bay chamber says 19.9% power hike would be ‘crippling’

AngloGold announces potential disposal of lossmaking Kopanang

By: Martin Creamer     15th September 2017 A memorandum of understanding (MoU) has been signed with a selected party which could result in a sale agreement involving the disposal of the 36-year-old, lossmaking Kopanang gold mine. AngloGold Ashanti said in a media release to Creamer Media’s Mining Weekly Online on Friday that unsolicited... 

AngloGold announces potential disposal of lossmaking Kopanang
Photo by Duane Daws
AngloGold Anshanti CEO Srinivasan Venkatakrishnan

Finnish firm Keliber pushes out DFS for lithium project to next year

By: Creamer Media Reporter      15th September 2017 Finland’s Keliber Oy has pushed back the completion of its definitive feasibility study (DFS) for its lithium project from the third quarter of this year to mid-2018, to allow for additional work programmes to be completed. The company announced on Friday that it would undertake additional... 

Orion on track to develop Prieska zinc/copper project

By: Anine Kilian     15th September 2017 ASX-listed Orion Minerals, which will list on the Johannesburg Stock Exchange on Monday, is focused on fast -tracking the development of its Northern Cape-based Prieska zinc/copper project. The company plans to leverage the secondary listing to open up more efficient local funding options through... 

Orion on track to develop Prieska zinc/copper project
Orion CEO Errol Smart

Shift in mining finance sources for mid-caps, juniors expected – BMI

By: Schalk Burger     15th September 2017 Market research multinational BMI Research reported on Thursday that there would be a shift in the status quo of mining finance sources, as mineral prices stabilise and edge higher over the coming years. “Majors will continue to rely on equity and debt financing. Mid-cap and small-cap companies,... 

Edenville pleased with progress at Rukwa mine

By: Creamer Media Reporter      15th September 2017 Aim-listed Edenville Energy is pleased with the progress being made with the development of its Rukwa project, in Tanzania. “The first half of 2017 was an extremely busy and transformational period for the company.  Having raised funds in February to start production, we have been able to rapidly... 

New study points to 90% renewables mix being least cost by 2050

By: Terence Creamer     15th September 2017 New analysis conducted using updated cost assumptions for solar photovoltaic (PV), onshore wind and batteries shows that the share of renewable energy in an electricity mix that would also be the least cost for South Africa could grow to above 90% by 2050. Such a portfolio, the study indicates,... 

New study points to 90% renewables mix being least cost by 2050
Photo by Duane Daws
Enertrag corporate business development head Dr Tobias Bischof-Niemz

Ramelius strikes deal with Newmont in Nevada

By: Esmarie Swanepoel     15th September 2017 Australian gold miner Ramelius Resources has struck a deal with US gold major Newmont Mining over its South Monitor land package, in Nevada. Under the terms of a farm-in and joint venture (JV) agreement signed this week, Ramelius could earn an 80% interest in the South Monitor gold project by... 

South32 ups stake in Arizona Mining

By: Esmarie Swanepoel     15th September 2017 Diversified miner South32 will acquire an additional 15-million shares in TSX-listed Arizona Mining, taking its share in the Canadian company to 19.9%. South32 in May this year acquired an initial 45-million shares, or a 15% interest in Arizona Mining for an investment of C$110.3-million. 

South32 ups stake in Arizona Mining

Vital raises A$2m to advance Watershed work

By: Esmarie Swanepoel     15th September 2017 ASX-listed junior Vital Metals has raised A$2-million through a share placement to progress its Watershed tungsten project, in Queensland. The company will issue 263.9-million new shares, at 75c each, to professional and sophisticated investors, under its current placement capacity. 

Predictive and Progress team up in Burkina Faso

By: Esmarie Swanepoel     15th September 2017 ASX-listed junior Predictive Discovery has signed a joint venture (JV) agreement with Canada’s Progress Minerals over its exploration permits in Burkina Faso. Predictive’s current tenement holdings in Burkina Faso cover some 100 km of strike length on the Samira Hill greenstone belt, with the... 

Ardea raises cash for WA cobalt exploration

By: Esmarie Swanepoel     15th September 2017 Junior metals explorer Ardea Resources has raised A$5.5-million in a share placement to sophisticated and professional investors, to accelerate drill programmes at its KNP cobalt project, in Western Australia. Some 7.6-million new fully paid ordinary shares would be issued under the company’s... 

Next Fortescue CEO to lead push beyond iron-ore cash machine

By: Bloomberg     15th September 2017 Nev Power’s successor as Fortescue Metals Group Ltd.’s top executive will be charged with leading the world’s fourth-largest iron ore exporter’s drive into new businesses. “We are going to look for and consider other opportunities, where other investors can join us,” chairperson and founder... 

Empire puts subsidiary into administration

By: Esmarie Swanepoel     15th September 2017 ASX-listed Empire Oil & Gas has placed its subsidiary Empire Oil Company into voluntary administration, after ASX-listed Mineral Resources issued a notice of default under a A$15-million loan facility agreement. Mineral Resources this week said that it took the steps in order to protect its... 

McKinsey, KPMG targeted as South Africa graft scandal widens

By: Bloomberg     15th September 2017 After helping topple one of Britain’s best known public-relations companies, South African anti-corruption groups are now targeting US consultancy McKinsey & Co. and auditing firm KPMG for doing work for businesses tied to the Gupta family and President Jacob Zuma’s son. The Guptas, originally... 

South African companies to seek mining opportunities in China

By: African News Agency      15th September 2017 The minister of trade and industry, Rob Davies, said on Friday that China has agreed to support South Africa and Africa’s initiatives of industrialisation and mineral beneficiation as the country embarks on a drive to better exploit its mineral resources. Davies said in a statement that that... 

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close