R/€ = 16.41 Change: -0.03
R/$ = 14.52 Change: -0.03
Au 1315.78 $/oz Change: 3.42
Pt 849.02 $/oz Change: -16.72

Latest News

Kavango completes Phase 2 AEM survey at Botswana licences

By: Tasneem Bulbulia     18th March 2019 SkyTEM has completed Phase 2 of the airborne electromagnetic (AEM) survey over the northern section of LSE-listed Kavango Resources’ prospecting licences that cover much of the Kalahari Suture Zone (KSZ) structure, in southwest Botswana. The AEM survey covered about 2 100 line kilometres to the... 

DigiMine seminar to showcase 4IR advances

By: Marleny Arnoldi     18th March 2019 Digital technology and its role in the mining industry’s future will once again be prominent at the Wits Sibanye-Stillwater Digital Mining Laboratory (DigiMine) seminar, which will be held on April 8 and 9. The event will be held at the Wits Mining Institute, on the University of the... 

Oriole sampling defines two gold anomalies in Cameroon

By: Marleny Arnoldi     18th March 2019 Aim-listed Oriole Resources has reported a peak assay of 531 parts per billion (ppb) gold, or 0.53 g/t of gold, from 2 119 soil sampling results received for its Wapouzé project, in Cameroon. The company collected material from about 30 cm to 40 cm below surface, within the upper saprolite... 

Hulamin expects 2018 headline earnings of 91c a share

By: Marleny Arnoldi     18th March 2019 JSE-listed aluminium supplier and exporter Hulamin expects to report a 4% year-on-year decrease in headline earnings a share to 91c for the year ended December 31, 2018. In anticipation of reporting its full-year results on March 19, the company on Monday said it expected to report a loss a... 

Rio asks shareholders to vote against emissions resolution

By: Reuters     18th March 2019 Rio Tinto said on Monday it would recommend that shareholders vote against a resolution requiring the miner to report its direct emissions and those of its customers in greater detail. In a notice ahead of its annual general meeting in May, Rio said shareholders should vote against the proposed... 

Northern raises A$20m

By: Esmarie Iannucci     18th March 2019 Rare earths producer Northern Minerals will raise A$20-million through the placement of 400-million shares, priced at 5c each. The company on Monday said that it had entered into multiple subscription agreements with a number of sophisticated investors. 

NY battery plant gets $52m term sheet

By: Esmarie Iannucci     18th March 2019 The Imperium3 consortium, in which ASX-listed Magnis Energy Technologies holds an effective 47% share, has secured a $52-million term sheet to develop a battery plant in New York. Magnis on Monday told shareholders that the term sheet was issued after an eight-week due diligence process on the... 

Allegiance's Tenas project proves up

By: Esmarie Iannucci     18th March 2019 A definitive feasibility study (DFS) into the Tenas coal project, in British Columbia, has found that the project could produce some 750 000 t/y of saleable coal. ASX-listed Allegiance Coal on Monday reported that the DFS estimated a 22-year mine for the project, extracting just 15% of the... 

Wiluna offering vanadium alternative to Toro

By: Esmarie Iannucci     18th March 2019 Uranium developer Toro Energy on Monday revealed that it would test the feasibility of extracting both uranium and vanadium concurrently at its Wiluna project, in Western Australia. The announcement comes after the company at the end of last year revealed that it would start the hunt for other... 

Kingsgate signs A$82m HoA with insurer

By: Esmarie Iannucci     18th March 2019 The share price of ASX-listed Kingsgate Consolidated increased by more than 53% on Monday, on news that the company had settled for more than A$82-million in its legal dispute with its political risk insurer. The company had political risk insurance in place in 2016 when the government of... 

Chaarat teams up with Turkey contractor

By: Creamer Media Reporter      18th March 2019 Gold mining company Chaarat has formed a joint venture (JV) with Turkish mining and mine construction contractor Çiftay to collaborate on the Tulkubash and Kyzyltash projects in the Kyrgyzstan, the Aim-quoted firm announced on Monday. Çiftay, which has been Chaarat’s partner since 2017, and... 

Pilbara and Posco to form South Korea downstream processing JV

By: Esmarie Iannucci     18th March 2019 Lithium producer Pilbara Minerals has taken a step closer to develop downstream processing capabilities, exercising an option with Korean major Posco. Pilbara will enter into an incorporated joint venture (JV) with Posco for the development of a 40 000 t/y lithium carbonate equivalent chemical... 

Thiess wins A$1.7bn Botswana contract

By: Esmarie Iannucci     18th March 2019 ASX-listed Cimci’s mining services provider subsidiary Thiess has been awarded a A$1.7-billion contract at the Jwangeng diamond mine, in Botswana. Thiess, through its 70%-held joint venture Majwe, will provide a full scope of mining services for Debswana Diamond Company, over a period of nine... 

MCA calls for tax reform, says ‘excessive’ burden is hurting investments

By: Esmarie Iannucci     18th March 2019 A new report by the Minerals Council of Australia (MCA) has warned that Australia’s continued lack of tax reforms will make it much harder for the country to compete for investment, as other countries continue to cut tax rates. The report, by the MCA’s international tax expert Dr Jack Mintz,... 

MCA calls for tax reform, says ‘excessive’ burden is hurting investments

Avenira hoping for FID by 2020

By: Esmarie Iannucci     18th March 2019 Phosphate developer Avenira is targeting a final investment decision on its Baobab project, in Senegal, in the first half of 2020, following the release of a positive feasibility study. Based on a one-million-tonne-a-year phosphate rock concentrate capacity, the feasibility study estimated that... 

At least 30 people die after Angola mine collapse

By: African News Agency      18th March 2019 A deadly mine collapse in Angola has left at least 30 people dead.  The incident occurred in Chipindo municipality in Angola’s south-west Huila Province as illegal gold miners mined for gold, the state media reported on Sunday. 

Continental obtains $175m for Colombia gold mine

By: Creamer Media Reporter      18th March 2019 TSX-listed project developer Continental Gold has obtained a $175-million funding package to complete the construction, commissioning and start-up of its Buriticá gold project, in Colombia. The package consists of $75-million of unsecured convertible debentures issued to certain investors,... 

Alrosa expects Mir mine restoration only after 2024

By: Creamer Media Reporter      18th March 2019 Mine restoration at the Mir diamond mine, which flooded about a year-and-a-half ago, is only expected to start after 2024, Russian miner Alrosa reported on Monday, detailing the timelines for the potential restart of the Siberian underground operation. To decide on the mine’s fate, Alrosa would... 

Alrosa expects Mir mine restoration only after 2024

Eskom to implement 'Stage 4' load-shedding from 09:00 to 23:00

By: African News Agency      18th March 2019 Eskom said on Monday it would commence Stage 4 rotational load shedding from 09:00 to 23:00 and continue into Tuesday due to a shortage of capacity.   Stage 4 load-shedding requires the state-owned utility, which supplies 95% of South Africa's electricity, to rotationally take 4 000 MW of demand... 

Eskom to implement 'Stage 4' load-shedding from 09:00 to 23:00

The coal miner who bet everything on US power markets and lost

By: Bloomberg     18th March 2019 Eleven years ago, Cloud Peak Energy made an all-or-nothing bet its rivals were unwilling to match: that coal would remain indispensable to the US power sector. That gamble has now pushed it to the brink of bankruptcy. 

The coal miner who bet everything on US power markets and lost

Norsk Hydro says Alunorte problems, higher raw material costs led to earnings fall

By: Reuters     18th March 2019 Aluminium producer Norsk Hydro said its 2018 underlying earnings before interest and tax fell by 2.15-billion crowns, due to higher raw material costs and reduced operations at Brazil's Alunorte plant, it said on Friday. The world's largest alumina refinery has been running at half its capacity... 

Deripaska sues over US sanctions, claims $7.5bn loss

By: Bloomberg     18th March 2019 Russian billionaire Oleg Deripaska is fighting back in a US court against American sanctions that he said are unfairly destroying his global businesses and are based on unproven allegations about his close ties to the government of Russian President Vladimir Putin. Deripaska, who made his... 

Deripaska sues over US sanctions, claims $7.5bn loss
Oleg Deripaska

Brazil court orders Vale to stop operations at another mine

By: Bloomberg     18th March 2019 A Brazilian court ordered Vale to halt production at another of its iron-ore mines, further reducing the company’s output capacity after a deadly dam burst increased government scrutiny over its operations. The Timbopeba mine in Minas Gerais state produces 12.8-million tons of iron-ore per year,... 

Diamond industry should be driven by SMMEs – Dr John Bristow

By: Simone Liedtke     15th March 2019 In an industry that’s plagued by a lack of development and depleting assets, diamond exploration, evaluation and mining geologist Dr John Bristow has called on the industry to be driven by small-, medium-sized and microenterprises (SMMEs). Speaking at the South African Diamond Producers... 

Power station for Tanami mine completed – Newmont

By: Creamer Media Reporter      15th March 2019 The $245-milion power station project for Newmont Mining’s Tanami gold mine, in Australia, has been completed, the US-based gold and copper major reported on Friday. The project entailed the installation of two power stations, a 66 kV interconnected power line, and a 450 km natural gas pipeline.... 

Power station for Tanami mine completed – Newmont

Tribunal approves Glencore, Chevron merger, with conditions

By: Marleny Arnoldi     15th March 2019 The Competition Tribunal on Friday approved a merger involving Glencore South Africa Oil Investment (Glencore SA Oil) and Chevron South Africa (Chevron SA). The transaction involves Glencore SA Oil acquiring 75% of the issued share capital of Chevron SA, from Off The Shelf Investments.  

African Battery Metals buys a stake in Katoro

By: Marleny Arnoldi     15th March 2019 London-listed African Battery Metals (ABM) has acquired an interest in London-listed Katoro Gold and further entered into an option agreement to acquire an interest in Katoro’s Haneti nickel project, in Tanzania. Under the terms of the agreements, ABM will be acquire up to ten-million new... 

Russian diamond firm Alrosa 2018 net profit up 15%

By: Reuters     15th March 2019 Russian State-controlled diamond producer Alrosa said on Friday its 2018 net profit rose 15% to 90.4 billion roubles, as a fall in sales volume was offset by stronger global prices. Though sales volume fell by 8% year-on-year, stronger pricing, particularly in the first half of 2018, meant sales... 

Russian diamond firm Alrosa 2018 net profit up 15%

Resgen secures additional working capital

By: Tasneem Bulbulia     15th March 2019 Resource Generation (Resgen) has reached a conditional agreement with Noble Group for the provision of $4.7-million in additional working capital for Resgen’s subsidiary Ledjadja Coal to meet its financial needs up to June 30. Resgen will continue to work to secure project funding. 

BRD arranges €46m loan to replace coal-fired plant in Bosnia

By: Reuters     15th March 2019 The European Bank for Reconstruction and Development (EBRD) has arranged a €46-million financing package to replace a highly polluting coal-fired plant in the central Bosnian town of Zenica, the bank said on Friday. The new combined gas-fired cogeneration plant, Toplana Zenica, will supply power... 

KGHM does not plan to sell Sierra Gorda mine - CEO

By: Reuters     15th March 2019 Polish mining company KGHM does not plan to sell its Sierra Gorda copper mining project in Chile, its CEO said on Friday. Marcin Chludzinski also said State-controlled KGHM, one of the world's biggest copper miners, does not currently see any further writedowns on foreign assets, after... 

Sitatunga starts project implementation activity at East Managanese 

By: Marleny Arnoldi     15th March 2019 Exploration and mining development company Sitatunga Resources will start building its first manganese mine, in the Northern Cape, this year, following receipt of the last regulatory authorisations. The Department of Mineral Resources (DMR) on February 22 granted environmental authorisation for... 

Sitatunga starts project implementation activity at East Managanese
Photo by Sitatunga
East Manganese project approval granted.

BlueRock prepares for continuous operations

By: Marleny Arnoldi     15th March 2019 Aim-listed BlueRock Diamonds on Friday said it was finalising preparations for the move to continuous operations at its Kareevlei diamond mine, in Kimberley, South Africa. The company said that although this was later than had initially been anticipated, it would not have any material impact on... 

BlueRock prepares for continuous operations
Kareevlei processing plant

Botswana's Debswana targets diamond output of 24m carats in 2019

By: Reuters     15th March 2019 Botswana's Debswana Diamond Mining, a joint venture between De Beers and the southern Africa country's government, aims to keep production at around 24-million carats this year, its managing director said on Friday. Debswana lifted diamond output by 6 percent to a four-year high of 24.1-million... 

Amplats donates 270 ha of land to support land reform 

By: Nadine James     15th March 2019 Anglo American Platinum (Amplats) on Friday handed over 270 ha of land, worth about R26-million, to the Rustenburg local municipality and the Rustenburg Alchemy Development Trust to support sustainable land reform and transformation. Parent company Anglo American said the donation, which followed... 

Amplats donates 270 ha of land to support land reform
Photo by Creamer Media's Dylan Slater
Amplats CEO Chris Griffith and Rustenburg Alchemy Development Trust chairperson Nthabiseng Matsobane

Sibanye nonexec director Barry Davison retires in May

By: Marleny Arnoldi     15th March 2019 Precious metals miner Sibanye-Stillwater on Friday announced the retirement of independent nonexecutive director Barry Davison, effective May 28. The company stated that Davison has been an integral part of the board since the company’s inception in 2013 and has served as chairperson of... 

South African court blocks AMCU's plans for industry-wide strike 

By: Reuters     15th March 2019 The labour court has rejected a request by platinum and gold sector union, the Association of Mineworkers and Construction (AMCU), to hold an industry-wide strike, Anglogold Ashanti, Anglo American Platinum (Amplats) and Lonmin said on Friday. AMCU has been on strike at Sibanye-Stillwater's gold... 

India’s Shipping Ministry unveils guidelines of LNG FSRU at all major ports

By: Ajoy K Das     15th March 2019 India’s Shipping Ministry has drawn up guidelines for setting up floating storage regasification units (FSRU) for liquefied natural gas (LNG) at all major ports in the country. The new guidelines aim to promote a shift from land-based LNG storage terminals to offshore units, as the latter cost... 

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