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Latest News

Sibanye retains favourable debt covenant 

By: Marleny Arnoldi     11th January 2019 JSE- and NYSE-listed Sibanye-Stillwater on Friday announced that all lenders of its dollar and rand revolving credit facilities (RCF) have agreed to retain the upper limit of the RCF until December 31. The RCF comprises 13 South African and international banks. The upper limit of the RCF is net... 

Georgian Mining a step closer to exploration permit approval

By: Marleny Arnoldi     11th January 2019 Aim-listed Georgian Mining Corporation CEO Mike Struthers on Friday announced that the Georgian government had held a Cabinet meeting late in December to discuss the pending exploration permit for the company’s 50%-owned Bolnisi copper/gold project. The company had been expecting a resolution... 

Armadale sells Mpokoto project to African Royalty

By: Marleny Arnoldi     11th January 2019 Aim-listed Armadale Capital has entered into a final formal agreement with African Royalty Company, which intends to acquire the Mpokoto gold project in the Democratic Republic of Congo (DRC). The agreement crystallises the value of the project, with a company capable of obtaining the funding... 

Capstone delivers on FY18 copper output guidance

By: Simone Liedtke     11th January 2019 TSX-listed Capstone Mining produced 155.2-million pounds of copper in 2018, in line with expectations, and has set its 2019 output guidance at between 145-million and 160-million pounds of copper at a C1 cash cost of between $1.80/lb and $2/lb. During this year, the Canadian base metals miner... 

Champion Iron appoints Michael Marcotte investor relations VP

By: Marleny Arnoldi     11th January 2019 TSX- and ASX-listed Champion Iron has appointed Michael Marcotte investor relations VP. Marcotte – a chartered financial analyst – previously spent 15 years working with resource equities for Macquarie Capital Markets Canada.  

Endeavour Silver delivers solid FY18 silver, gold production

By: Marleny Arnoldi     11th January 2019 TSX- and NYSE-listed Endeavour Silver Corporation has reported consolidated silver production of 5.5-million ounces and gold production of 52 967 oz of gold for 2018. The company reported silver-equivalent production of 9.5-million ounces at a 75:1 silver to gold ratio.  

Lucara recovers 127 ct diamond from Karowe

By: Marleny Arnoldi     11th January 2019 TSX-, Nasdaq- and Botswana Stock Exhange-listed Lucara Diamond Corporation on Thursday recovered a 127 ct, top white gem-quality diamond from its Karowe diamond mine, in Botswana. Since mining started at Karowe in 2012, the company has recovered 129 diamonds in excess of 100 ct, including 12... 

Lucara recovers 127 ct diamond from Karowe
127 ct diamond recovered from Lucara's Karowe mine

Tharisa Q1 output declines as tailings processing takes toll

By: Natasha Odendaal     11th January 2019 The processing of commissioning tailings negatively impacted on dual-listed Tharisa’s overall production and recoveries for the first quarter of the 2019 financial year. During the quarter, ended December 31, platinum-group metal (PGMs) production fell by 5.9% quarter-on-quarter to 33 600 oz and... 

Mnuchin defends lifting sanctions on firms tied to Putin ally

By: Bloomberg     11th January 2019 Treasury Secretary Steven Mnuchin signaled he won’t back down from plans to lift sanctions on three companies tied to an ally of Russian President Vladimir Putin even as he said the Trump administration would consider delaying the move to accommodate concerns raised by lawmakers. Mnuchin denied... 

Barrick Gold's new CEO dismisses Canada HQ debate as 'hysteria'

By: Bloomberg     11th January 2019 Barrick Gold’s new CE is surprised by the “hysteria” over whether the world’s largest gold miner will remain a Canadian company. Barely a week after his Channel Islands-based Randgold Resources merged with Barrick, Mark Bristow says he’s determined to keep the global miner headquartered in... 

Matsa completes mining at Red Dog

By: Esmarie Iannucci     11th January 2019 ASX-listed Matsa Resources in November of last year completed mining at the Red Dog gold project, in Western Australia, with last ore hauled to gold producer AngoGold Ashanti’s Sunrise Dam treatment plant in December. Matsa on Friday reported that mining at the Red Dog operation had generated 12... 

Barrick CEO to forge ahead in Latin America despite past strains

By: Bloomberg     11th January 2019 Barrick Gold Corp’s new boss intends to push ahead with plans to increase investment in the mineral-rich – but environmentally tricky – deposits straddling the Chile-Argentina border. “If you want to find elephants, go to elephant country,” CEO Mark Bristow, a South African geologist and big-game... 

Barrick CEO to forge ahead in Latin America despite past strains
Photo by Bloomberg
Barrick Gold CEO Mark Bristow

Newmont cuts 120 jobs at Nevada gold mining operation

By: Reuters     11th January 2019 Newmont Mining Corp, the world's No. 2 gold producer, is cutting 120 jobs at its Carlin mining operation in Nevada after deciding to reduce the life span of one mine and suspending part of another due to a wall slide, a spokesman said on Thursday. The Denver, Colorado-based company announced the... 

Berkeley shares surge on media reports

By: Esmarie Iannucci     11th January 2019 The share price of junior Berkeley Energia jumped by more than 63% on Friday, following media reports that its Salamanca uranium project, in Spain, had been approved. The ASX- and LSE-listed company told shareholders that despite the Spanish media reports, the company had received no official... 

Berkeley shares surge on media reports

Alacer hits targets in 2018

By: Esmarie Iannucci     11th January 2019 Gold miner Alacer Gold has reached its 2018 production expectations, with the Çöpler mine, in Turkey, producing 170 865 oz of gold. The full-year production was in line with expectations of between 160 000 oz and 230 000 oz. 

Alacer hits targets in 2018

Vector takes major interest in DRC gold project

By: Esmarie Iannucci     11th January 2019 Gold developer Vector Resources was hoping to complete a definitive feasibility study (DFS) on the Adidi-Kanga gold project, in the Democratic Republic of Congo, during this year, after settling the acquisition of a 60% interest in the project. The ASX-listed Vector in July last year struck a... 

Mining Weekly iPhone and Android Apps available for free download 

11th January 2019 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Bisie development on track

By: Creamer Media Reporter      10th January 2019 The processing plant front-end crushing circuit at Alphamin Resources' Bisie tin mine, in the Democratic Republic of the Congo, has been successfully commissioned, on schedule. This includes the primary crusher, two tertiary crushers and the screening buildings. Ore is now being fed through this... 

Kenmare meets production guidance for third consecutive year

By: Tasneem Bulbulia     10th January 2019 London-listed Kenmare Resources, which operates the Moma titanium minerals mine, in Mozambique, achieved its production guidance for a third consecutive year in 2018 – delivering 1.37-million tonnes of heavy minerals concentrate. The company produced 958 500 t of ilmenite and 48 400 t of primary... 

Semafo meets FY18 output guidance

By: Tasneem Bulbulia     10th January 2019 Canada-based mining company Semafo produced 244 600 oz of gold in 2018 – in line with guidance of 235 000 oz to 265 000 oz. The company, which operates in West Africa, achieved fourth-quarter production of 95 200 oz of gold, owing to a first full quarter of production at the Boungou mine, in... 

BlueRock diamond sales up 71% in 2018

By: Simone Liedtke     10th January 2019 Last year yielded positive results for Aim-listed diamond miner BlueRock Diamonds, which achieved significant increases in production and recovered grade, and saw its diamond sales increase by 71% to 5 805 ct, compared with the 3 385 ct sold in 2017. Production volume for the miner, which owns... 

World Gold Council believes gold will become more relevant in 2019

By: Simone Liedtke     10th January 2019 The World Gold Council (WGC) has said it believes gold will become even more relevant this year owing to “its proven record” for delivering returns, its low correlation to major asset classes, its liquidity and its risk-adjusted returns. Looking ahead, the council expects gold demand to benefit... 

World Gold Council believes gold will become more relevant in 2019

Chimata signs $9.5m finance, offtake facility for Zimbabwe tailings project

By: Simone Liedtke     10th January 2019 Transamine Trading and the Kamativi Tailings Company (KTC) have signed a term sheet for a $9.5-million finance and offtake facility for concentrate produced from the Kamativi tailings lithium project, in Zimbabwe. The proceeds will be used for the construction of the Phase 1 processing plant to... 

BRPs to meet with Optimum, Koornfontein creditors to vote on proposed business rescue plans 

By: Simone Liedtke     10th January 2019 The joint business rescue practitioners (BRPs) of Optimum Coal Mine (OCM) and Koornfontein Mines (KFT) expect to convene meetings with creditors within the next few weeks to vote on the proposed business rescue plans for the mines. The meetings will take place once the BRPs have resolved... 

BRPs to meet with Optimum, Koornfontein creditors to vote on proposed business rescue plans

Too early to bet on mining policy change: Congo vote reaction

By: Bloomberg     10th January 2019 In a surprise twist, Democratic Republic of Congo opposition leader Felix Tshisekedi was declared the winner of last month’s Presidential election, although his victory is being marred by claims by a rival that the poll was rigged. The African country is the world’s main supplier of battery... 

Oil near one-month high amid Opec cuts, economic uncertainty

By: Bloomberg     10th January 2019 Oil traded near a one-month high after entering a bull market, while the tension between an uncertain economic outlook and efforts by Opec to restrict supplies continued to cause volatile trading. West Texas Intermediate slipped 0.5% after a rally on Wednesday brought crude’s rebound from an... 

Acacia’s North Mara fined $130 000 for alleged environmental transgressions

By: Simone Liedtke     10th January 2019 London-listed Acacia Mining’s North Mara gold mine, in Tanzania, has received an environmental protection order (EPO) requiring the payment of a fine of $130 000, or TSh300-million. The EPO was issued in relation to alleged breaches of environmental regulations. 

Dundee’s Chelopech mine exceeds 2018 production guidance

By: Tasneem Bulbulia     10th January 2019 Dundee Precious Metals’ Chelopech mine and smelter, in Bulgaria, achieved another record year of gold production, at 201 100 oz, in 2018, exceeding the company’s guidance of 190 000 oz to 200 000 oz. Moreover, copper production of 36.7-million pounds was in line with guidance of 35-million to... 

Anglo American betting on South America to grow base metal assets

By: Reuters     10th January 2019 Miner Anglo American is betting on South America as its main growth area for base metals in the coming years, a top executive told Reuters. Ruben Fernandes, who heads Anglo's operations in Brazil and is slated to become its global head of base metals next March, said he wants to prepare the... 

Blaze damages Rio Tinto's Cape Lambert iron-ore export facility

By: Reuters     10th January 2019 Rio Tinto closed part of its Cape Lambert iron-ore export terminal in Western Australia after a fire caused damage, the company said on Thursday. The blaze occurred early on Thursday and was extinguished with no injuries, the company said in an emailed statement. Cape Lambert is located about 1... 

Value-chain relationship rebuild essential for platinum group metals’ survival – Ritchken 

By: Martin Creamer     10th January 2019 The rebuilding of key strategic relationships across the value chain of the platinum group metals (PGMs) sector is essential for the survival of the industry, Mining Phakisa coordinator Edwin Ritchken states in the book The Future of Mining in South Africa: Sunset or Sunrise, published by the... 

Value-chain relationship rebuild essential for platinum group metals’ survival – Ritchken
Photo by Creamer Media
Mining Phakisa coordinator Edwin Ritchken

Americas Silver, Pershing Gold shareholders approve business combination

By: Tasneem Bulbulia     10th January 2019 Americas Silver and Pershing Gold on Wednesday announced that their respective shareholders had given the requisite approvals for the merger of the two companies. Americas Silver shareholders approved a special resolution to amend the company’s articles of incorporation to create a new class of... 

Sierra Metals completes expansions at Bolivar mine

By: Tasneem Bulbulia     10th January 2019 Sierra Metals’ expansion plans at the Bolivar mine, in Mexico, are on track, the company reported in a statement on Wednesday. The company last year announced plans to achieve a sustainable and staged increase in mine production and mill throughput from 3 000 t/d to 3 600 t/d by the first quarter... 

Pretium Resources achieves strong FY18 production

By: Tasneem Bulbulia     10th January 2019 Pretium Resources recorded strong gold production at its Brucejack underground mine, in British Columbia, in 2018. The mine produced 376 012 oz gold for the full-year – just below guidance of 387 000 oz. 

Sibanye reports good PGMs performance, but gold output falls amid strike 

By: Simone Liedtke     10th January 2019 JSE- and NYSE-listed Sibanye-Stillwater on Thursday said its South African platinum group metals (PGMs) operations continue to do well, with the miner expecting its platinum, palladium, gold and rhodium (4E) PGMs production for 2018 to be about 1.17-million ounces. In a statement detailing... 

Sibanye reports good PGMs performance, but gold output falls amid strike
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Santos extends Beach/Senex agreements

By: Esmarie Iannucci     10th January 2019 Australian oil and gas major Santos has extended its gas processing agreement with ASX-listed Beach Energy and Senex Energy. The gas processing agreement extensions are expected to result in the production of up to 18 TJ of sales gas per day, or 20 PJ over the three-year term. 

Santos extends Beach/Senex agreements

DRA wins Dargues EPC contract

By: Esmarie Iannucci     10th January 2019 Project house DRA Global has been awarded the engineering, procurement and construction (EPC) contract for the Dargues gold mine, in New South Wales, being developed by Diversified Minerals. The contract scope entails the EPC of a 355 000 t/y gold processing facility and mine backfill plant at... 

Xolobeni youth distances itself from Mantashe ban, wants Minister to visit the village 

By: African News Agency      10th January 2019 Xolobeni youths have distanced themselves from the Amadiba Crisis Committee's (ACC's) announcement that mineral resources minister, Gwede Mantashe, was not welcome at the volatile Eastern Cape village.  On Tuesday the ACC reiterated that Mantashe was not welcome in Xolobeni after the minister... 

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