R/€ = 15.66 Change: -0.01
R/$ = 13.43 Change: -0.01
Au 1270.73 $/oz Change: 2.63
Pt 878.00 $/oz Change: 13.83

Latest News

Gold anomaly of over 8 km identified at GoldStone’s Akrokeri-Homase project

By: Creamer Media Reporter      20th June 2018 Aim-listed GoldStone Resources has identified a larger than 8 km gold-in-soil anomaly at its Akrokeri-Homase gold project, in South-West Ghana. The gold-in-soil anomaly, which runs from the historic Akrokeri underground mine to north of the Homase openpit, was identified following a review of the... 

Metro raises A$17m

By: Esmarie Swanepoel     20th June 2018 Bauxite miner Metro Mining has completed a bookbuild to raise A$17.5-million to strengthen the company’s balance sheet. The institutional placement has been priced at 20c a share, and due to strong demand, the placement was upsized by A$2.5-million. 

Gold street is where South Africa’s mining history goes to die

By: Bloomberg     20th June 2018 The death rattle of the industry that once symbolised South Africa can be heard in the town of Carletonville – on Gold street. That’s where Paseka Selemela has been guarding cars since 2010, when the scaffolding business he worked for closed. Prior to that, he was an assistant at a now-shuttered... 

Hyundai teams up with VW's Audi to boost hydrogen cars

By: Reuters     20th June 2018 Hyundai agreed a deal with Audi on Wednesday to collaborate on hydrogen car technology, hoping to boost an energy segment that has lagged behind battery electric vehicles. The South Korean firm wants to increase the uptake of hydrogen cars, which are propelled by electricity generated by fuel... 

Caterpillar’s record profit can’t save it from trade-war carnage

By: Bloomberg     20th June 2018 The world on the cusp of a trade war has spooked investors, and few companies are feeling the fright more than Caterpillar. Shares of the Deerfield, Illinois-based company, which is expected to post record profit this year and the best sales since 2014, have dropped for five straight days and... 

Latest tender nets $32.48m for Lucara

By: Creamer Media Reporter      20th June 2018 Lucara Diamond Corp’s twelfth exceptional diamond tender has earned it $32.48-million, with one 327.48 ct diamond sold for $10.1-million, or about $30 900/ct. The company, which operates the Karowe mine, in Botswana, put ten single diamonds, ranging in size from 40.4 ct to 472.37 ct, up for tender. 

Nevada Copper reports solid progress at Pumpkin Hollow

By: Creamer Media Reporter      20th June 2018 Early construction works continue to ramp up at the Pumpkin Hollow underground project, while an optimisation study for the openpit is progressing and expected to be released in the coming months. In an operations update on Tuesday, TSX-listed Nevada Copper reported that work was continuing on... 

Emission abatement technology could drive industrialisation – EPCM Global

By: Nadine James     20th June 2018 South African firm EPCM Global Engineering has partnered with Luxembourg-based Carbon Process & Plant Engineering (CPPE) to bring its emissions abatement technology to Africa, in a move that could spur industrialisation, says EPCM Global CEO Tumi Kgomo. He explains that the technology, which was... 

Deflector production set to rise

By: Esmarie Swanepoel     20th June 2018 Gold miner Doray Minerals was expecting record gold production from its Deflector mine, in Western Australia, during the 2019 financial year. The ASX-listed company on Wednesday told shareholders that Doray is expected to deliver between 80 000 oz and 85 000 oz during the 2019 financial year,... 

Qld releases more exploration acreage

By: Esmarie Swanepoel     20th June 2018 The Queensland government has set aside more than 44 000 km2 of land for resource exploration, Natural Resources, Mines and Energy Minister Anthony Lynham said. Speaking at a conference in Brisbane, Lynham said it was the largest amount of land released under the state’s exploration program and... 

Queensland miners promise more jobs

By: Esmarie Swanepoel     20th June 2018 New research by the Queensland Resources Council (QRC) has revealed that miners in the state were planning to increase employment on the back of a sustained lift in global commodity prices and record production. In its latest State of the Sector report, the QRC revealed that 52% of resources... 

NT govt looking for remediation partners

By: Esmarie Swanepoel     20th June 2018 The Northern Territory government has released two tenders for remediation works at abandoned openpit mines as part of its plans to develop Tennant Creek as a mining services hub. “Tennant Creek has a long mining history and many old mines pre-date the requirement for operators to leave them in... 

Capricorn improve Karlawinda economics

By: Esmarie Swanepoel     20th June 2018 An optimisation study of the Karlawinda gold project, in Western Australia, has delivered a 69% increase in the forecast pre-tax net present value, while also reducing up-front capital costs by 10%. ASX-listed Capricorn Metals on Wednesday reported that the pre-tax net present value for the... 

Hill End puts for sales sign on gold assets

By: Esmarie Swanepoel     20th June 2018 ASX-listed Hill End Gold has announced plans to divest its gold assets, following a strategic review. Hill End in May appointed PCF Capital Group to conduct a review of the company’s gold assets, in order to unlock value. 

Matsa signs gold deal with AngloGold Ashanti

By: Esmarie Swanepoel     20th June 2018 Junior gold producer Matsa Resources has inked a memorandum of understanding (MoU) with gold major AngloGold Ashanti over Matsa’s extensive Lake Carey gold project, in Western Australia. The MoU would see the two companies negotiating technical data and infrastructure sharing, with AngloGold... 

Xanadu raises A$10m for exploration

By: Esmarie Swanepoel     20th June 2018 Copper and gold explorer Xanadu Mines has raised A$10-million through an oversubscribed placement to accelerate resource drilling at its Kharmagtai copper/gold project, in Mongolia. The placement comprised some 58.9-million shares, priced at 17c each, to institutional and sophisticated investors. 

MinRes declines to up Atlas offer

By: Esmarie Swanepoel     20th June 2018 ASX-listed Mineral Resources (MinRes) on Wednesday announced that it will not make a counter offer for iron-ore miner Atlas Iron. MinRes had been given three business days to come up with a new offer for Atlas after Hancock Prospecting launched a 4.2c a share cash offer for Atlas, in which it... 

NSW miners deliver record royalties

By: Esmarie Swanepoel     20th June 2018 The resource sector delivered a record A$1.8-billion in royalties to the New South Wales budget in the last year, and was expected to contribute a further A$7.4-billion over the next four years to 2021-22. The New South Wales government this week predicted a surplus of A$3.9-billion for 2017-18,... 

NSW miners deliver record royalties

New mechanisms launched to help former mineworkers claim in landmark silicosis case

By: African News Agency      20th June 2018 A new website and a Facebook page was launched on Tuesday in a bid to assist former mineworkers and their dependents who may be entitled to compensation that have made provisions for a Trust Fund to pay mineworkers who contracted silicosis or TB at work. The historic R5 billion settlement was... 

New mechanisms launched to help former mineworkers claim in landmark silicosis case

BHP to sell Chile copper mine to EMR Capital

By: Mariaan Webb     19th June 2018 Global mining major BHP has agreed to sell its Cerro Colorado copper mine, in Chile, to private equity manager EMR Capital, the Melbourne-headquartered company announced on Tuesday. The transaction consists of a cash consideration of $230-million and about $40-million in proceeds from the... 

BHP to sell Chile copper mine to EMR Capital

PTM subsidiary, Capricorn municipality ink plan to increase water supply

By: Simone Liedtke     19th June 2018 Waterberg JV Resources, the operating company of the Waterberg Joint Venture (JV), has entered into an agreement with the Capricorn district municipality, in Limpopo, to jointly develop a water supply management plan to increase the water supply and infrastructure capacity for both the local... 

Rusal starts shipping bauxite from Guinea's Dian-Dian mine

By: Reuters     19th June 2018 Sanctions-hit Russian aluminium producer Rusal said on Tuesday it had started shipping bauxite from its Dian-Dian bauxite project in Guinea to its alumina refineries in other countries. Rusal, the world's largest aluminium producer outside China, has been hit by US sanctions imposed on it and... 

Trans Hex expects to widen FY loss

By: Simone Liedtke     19th June 2018 Diamond miner Trans Hex expects to report a loss a share of 175.6c for the financial year ended March 31, compared with a loss a share of 173.6c in the prior financial year. The company further expects to report a headline loss a share of 216.5c, compared with a headline loss a share of 114.6c in... 

Mining, manufacturing sectors urged to focus on local content

By: Anine Kilian     19th June 2018 There is a close relationship between mining and manufacturing, especially in terms of the equipment that is manufactured and supplied to the mining industry, Manufacturing Circle executive director Phillipa Rodseth said at the Manufacturing Indaba, on Tuesday. Speaking during a panel session on... 

South Korea lobbies India to relax gold import restrictions

By: Ajoy K Das     19th June 2018 The review and upgrade of the free trade agreement (FTA) between India and South Korea is facing a speed bump, with the latter seeking a relaxation of gold import restrictions. The South Korean government wants restrictions on gold shipments into India, imposed last year, to be scrapped,... 

Lydian to appoint former Goldcorp and Newmont CFO as director

By: Creamer Media Reporter      19th June 2018 TSX-listed Lydian International, which is building the Amulsar gold mine in Armenia, on Tuesday announced that it would appoint gold mining executive Russell Ball as director at its annual general meeting on June 28. Ball is a former executive VP and CFO of gold majors Goldcorp and Newmont Mining. 

BHP to sell Chilean copper mine to private equity fund EMR Capital - sources

By: Reuters     19th June 2018 BHP has agreed to sell Cerro Colorado copper mine to private equity fund EMR Capital, two sources close to the deal said on Tuesday. The world's biggest listed miner had hired Citi early in 2017 to sell the asset, which was then valued at around $800-million, although one of the sources said the... 

IDM to update Red Mountain feasibility study to include additional resources

By: Mariaan Webb     19th June 2018 TSX-V-listed IDM Mining has significantly increased the mineral resources of its Red Mountain project, which company president and CEO Robert McLeod said would likely be the next underground gold mine in British Columbia. Following the 2017 underground drilling programme, IDM on Tuesday reported... 

Selloff in iron-ore to rubber in China as US trade war widens

By: Reuters     19th June 2018 Prices of commodities from iron ore to rubber tumbled in China on Tuesday, with investor sentiment shaken by an intensifying trade war between Beijing and Washington that could hurt the world's No. 2 economy. The selloff also hit steel, copper, cotton and palm oil, as Chinese investors returned... 

OceanaGold ups 2018 gold guidance

By: Mariaan Webb     19th June 2018 A strong operating performance in the first half of 2018 has seen dual-listed OceanaGold increase its gold production guidance for the year to between 500 000 oz and 540 000 oz. The new guidance, announced on Tuesday, compares with the company’s previously stated production target of 480 000 oz... 

Orosur appoints Schafer to board

By: Creamer Media Reporter      19th June 2018 TSX- and Aim-listed gold producer Orosur Mining has appointed Bob Schafer as nonexecutive director to replace Roger Davey, who has retired. The 64-year old Schafer has worked internationally, with notable experience in the far east of Russia, Southern Africa, South America and Australia. He has... 

New Europe-based tungsten supply to enter market by year-end

By: Creamer Media Reporter      19th June 2018 Initial production from the new tungsten mine that Irish- and UK-listed Ormonde Mining is building in Salamanca, Spain, is set to enter the market by the end of the year. The Barruecopardo mine is being built at a time of rising demand and prices for ammonium paratungstate (APT), with prices... 

Harmony repays $100m on bridge facility, strengthens balance sheet

By: Simone Liedtke     19th June 2018 Harmony Gold Mining has repaid a further $100-million of the original $200-million bridge loan raised for the acquisition of its recently-acquired Moab Khotsong gold mine, in the North West. “Harmony believes in having a robust and flexible balance sheet that supports its growth ambitions,”... 

Harmony repays $100m on bridge facility, strengthens balance sheet
Harmony CEO Peter Steenkamp

Gem declares $18.3m in payments to Lesotho, Botswana governments

By: Simone Liedtke     19th June 2018 Gem Diamonds paid just over $18.3-million to the governments of Lesotho and Botswana for extractive activities completed in the financial year ended December 31, 2017. Of this amount, about $18.1-million was paid to the government of Lesotho, with the balance of $230 000 paid to the Botswana... 

Youga mine life extended by 2 years as reserves increase 29%

By: Anine Kilian     19th June 2018 The life of Avesoro Resources’ Youga gold mine, in Burkina Faso, has been extended by two years to 2027, with total forecast production of 614 000 oz. In an updated mineral resource and mineral reserve estimate for the mine, released on Tuesday, the TSX- and Aim-listed company noted that the... 

BHP offers August loading LNG cargo from Australia export plant - sources

By: Reuters     19th June 2018 Global mining and resources company BHP is offering to sell a liquefied natural gas (LNG) cargo from its North West Shelf export plant in Australia, two trade sources said on Tuesday. The cargo will load over the August 15 to 17 period and is offered on a free-on-board basis, they said. 

Argosy declares maiden resource at Rincon

By: Esmarie Swanepoel     19th June 2018 ASX-listed Argosy Minerals has reported a maiden inferred mineral resource of 207 957 t of contained lithium carbonate equivalent at its Rincon lithium project, in Argentina. MD Jerko Zuvela said on Tuesday that the resource estimate would support production targets at Rincon, which Argosy was... 

Rio takes Alloy up on Paterson offer

By: Esmarie Swanepoel     19th June 2018 ASX-listed Alloy Resources has signed a farm-in and joint venture agreement with the exploration arm of major Rio Tinto over an exploration license in the Paterson region of Western Australia. Under the terms of the agreement, Rio Tinto Exploration could earn a 70% interest in the tenement by... 

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