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Latest News

Lesotho’s Letšeng mine recovers several 100-ct-plus diamonds, expects trend to continue

By: Ilan Solomons     15th September 2017 The Letšeng diamond mine, in Lesotho, recovered several diamonds larger than 100 ct during the first half of 2017, with LSE-listed diamond miner Gem Diamonds upbeat that this trend will continue for the remainder of the year. These gems include the 114.38 ct Type II, the 126 ct D-colour Type IIa... 

Fight for world's biggest gold mine isn't over – former CEO says

By: Bloomberg     15th September 2017 The landmark deal that forced Freeport-McMoRan to cede control of the world’s biggest gold mine and second-biggest copper mine to Indonesia may not be the final outcome as both sides prepare for a politically charged battle over the price of the asset and how it will be run, according to the US... 

Gold miners seek safety as political risks rise

By: Reuters     15th September 2017 Canadian miner Eldorado Gold's threat this week to freeze investments in Greece after years of frustrating and costly permit delays highlighted the risks the industry faces when it strays away from mining-friendly countries. After moving into higher-risk countries in recent years to mine new... 

Gold miners seek safety as political risks rise

Avalon intent to cash in on rapidly rising technology metal demand

By: Henry Lazenby     15th September 2017 A whole new world for lithium demand has aspiring technology metals firm Avalon evaluating its options to cash in on the red-hot industry, with the company patiently advancing three projects in its portfolio that will benefit from higher metals prices. Just this week, new evidence was provided... 

Avalon intent to cash in on rapidly rising technology metal demand
Photo by Reuters
Lithium-ion batteries in the manufacturing process. Demand for lithium is expected to outstrip supply from 2019 onwards

Mining Weekly iPhone and Android Apps available for free download 

     15th September 2017 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

Eldorado receives Greek arbitration notice

By: Henry Lazenby     14th September 2017 Vancouver-headquartered Eldorado Gold said on Thursday its Greek subsidiary Hellas Gold has finally received a formal notice from the country’s Ministry of Finance and the Ministry of Environment and Energy initiating domestic arbitration. The mediation will take place under the provisions... 

Eldorado receives Greek arbitration notice
Eldorado Gold CEO George Burns

Professionals at Codelco's Radomiro Tomic mine ink wage deal

By: Reuters     14th September 2017 Chile's state-run copper company Codelco has signed a new collective contract with the professionals' union at its Radomiro Tomic mine, the company said on Thursday. The agreement, which will last 35 months, includes no salary adjustment, but does give workers a one-time bonus of 6.35-million... 

Coal market boom casts bullish trajectory for Corsa as it prowls for M&A ops

By: Henry Lazenby     14th September 2017 Surprising as it may seem, coal demand is at an all-time high, with the current heydays spelling “good profits and rising margins” for several miners in this space, including US-focused Corsa Coal. The TSX-V-listed miner, which produces coal from six mines, has one development mine and operates... 

Coal market boom casts bullish trajectory for Corsa as it prowls for M&A ops

Shifting relationship dynamics, higher earnings see more women buying their own diamond jewellery

By: Creamer Media Reporter      14th September 2017 More women are buying diamond jewellery for themselves, resulting in new growth opportunities for the diamond industry. De Beers' latest ‘Diamond Insight Report’, published on Thursday shows that more than a quarter of women’s diamond jewellery bought in 2016 in each of the four main consumer... 

Lossmaking operations will not be supported – Implats

By: Martin Creamer     14th September 2017 South Africa’s second-biggest platinum mining company Impala Platinum (Implats) said on Thursday that it would no longer be supportive of lossmaking operations and was taking strong steps to bring about a cash neutral position at its major productivity-hit Impala Rustenburg platinum mine and... 

Lossmaking operations will not be supported – Implats
Photo by Duane Daws
Implats CEO Nico Muller

Exxaro, NUM to resume wage negotiations on Friday

By: Creamer Media Reporter      14th September 2017 Diversified miner Exxaro has received a revised set of demands from the National Union of Mineworkers (NUM) and the parties will resume wage negotiations on Friday. “We've noted the decision by NUM to issue a strike notice. The strike action affects Grootegeluk coal mine, in Lephalale, as well as... 

Sizeable limonite find exposes Horizonte to burgeoning EV market

By: Samantha Herbst     14th September 2017 Brazil-focused nickel development company Horizonte Minerals on Thursday reported sizeable limonite mineral resources at its Araguaia nickel project, which exposes the Aim- and TSX-listed company to the fast-growing nickel/cobalt electric vehicle (EV) battery market. Limonite is treated to... 

Sizeable limonite find exposes Horizonte to burgeoning EV market
Limonite is a type of iron-ore treated to produce nickel and cobalt hydroxides, suitable for supplying the EV battery market

Euro Sun awards contract for Rovina bankable feasibility study

By: Mariaan Webb     14th September 2017 SX-listed Euro Sun has awarded the bankable feasibility study (BFS) contract for its Rovina Valley gold and copper project, in Romania, to SRK Consulting (Canada) and Ausenco Engineering Canada. Announcing the award of the BFS on Thursday, Euro Sun said SRK would provide expertise in geology,... 

Anglo Pacific acquires royalty interest in Brazil-based nickel/cobalt project

By: Samantha Herbst     14th September 2017 Dual-listed royalty company Anglo Pacific has entered into an agreement with UK-based Brazil Nickel to acquire a gross revenue royalty (GRR) interest for the development of the Piauí nickel/cobalt project, in north-eastern Brazil. This is in line with Anglo Pacific’s strategy to invest in... 

China's environmental crackdown hits August metals output

By: Reuters     14th September 2017 China's non-ferrous metal output fell to a one-year low in August, in a sign that Beijing's environmental crackdown is curbing supplies of base metals, with aluminium also hit by efforts to rein in output. Production of 10 nonferrous metals - including copper, aluminium, lead, zinc and nickel -... 

Stakeholders to push back at upcoming hearings into Eskom’s 2018 hike

By: Terence Creamer     14th September 2017 The National Energy Regulator of South Africa (Nersa) has outlined the process it will be following to assess Eskom’s request for a 19.9% tariff increase for the 2018/19 financial year, setting a deadline of October 13 for the submission of written comments. Nersa has approved Eskom’s request to... 

Stakeholders to push back at upcoming hearings into Eskom’s 2018 hike

Coal shortage triggers higher LNG offtake by Indian power companies

By: Ajoy K Das     14th September 2017 Indian power generation companies are rushing to book liquefied natural gas (LNG) to maintain generation, as coal shortages threaten capacity utilisation of thermal power plants. Over the past two to three days, power companies have made new bookings of an estimated 10-million standard cubic... 

Indonesia's Antam plans to apply for further 1.25Mt of nickel ore exports -Corp Sec

By: Reuters     14th September 2017 Indonesia's Aneka Tambang (Antam) plans to apply for an additional quota to export 1.25-million tonnes of nickel ore, on top of the 2.7-million tonnes already allocated to the state-owned miner, a company official said. "Now we are still completing documentation of the verification by an... 

First sod turned on A$800m Northern gas pipeline

By: Esmarie Swanepoel     14th September 2017 Queensland State Development and Natural Resources and Mines Minister Dr Anthony Lynham has turned the first sod at the A$800-million Northern gas pipeline. The 622-km pipeline, being developed by Jemena, will link Tennant Creek in the Northern Territory to Mount Isa, in Queensland, with first... 

First sod turned on A$800m Northern gas pipeline

Core to buy Liontown’s Bynoe lithium project

By: Esmarie Swanepoel     14th September 2017 ASX-listed Liontown Resources has struck a deal with fellow listed Core Exploration to divest of its Bynoe lithium project, in the Northern Territory. Under the terms of the agreement, announced on Thursday, Core would acquire the Bynoe project for an up-front cash consideration of... 

Metro awards Bauxite Hills contract

By: Esmarie Swanepoel     14th September 2017 Bauxite developer Metro Mining has awarded a mining contract at its Bauxite Hills mine, in Queensland, to contractor SAB Mining. Mine construction at Bauxite Hills started in July this year, and mining operations were on schedule to start in April 2018, with Metro saying on Thursday that SAB was... 

Metminco gets go-ahead for underground ops

By: Esmarie Swanepoel     14th September 2017 Dual-listed Metminco has received approval from the Colombian environmental agency in the Department of Risaralda, to conduct underground development at its Miraflores gold project. The development approval will allow the company to expose the previously defined ore zones on multiple levels, up... 

TNT Mines closes IPO

By: Esmarie Swanepoel     14th September 2017 ASX-listed Niuminco Group on Thursday revealed that the initial public offering (IPO) on its subsidiary TNT Mines had raised A$5.5-million. Some 27.5-million shares, priced at 20c each, will be issued under the IPO. 

Campaign for more diamond ads wins support from India's gem hub

By: Bloomberg     14th September 2017 The push for bigger diamond advertising campaigns and marketing to wealthy millennials has won support from a key part of the industry: India’s manufacturers and retailers. India’s Gem & Jewellery Export Promotion Council, which represents almost 6 000 diamond companies, has agreed to contribute... 

De Beers is said to hire leak hunter to probe gem data breach

By: Bloomberg     14th September 2017 The world’s biggest diamond producer hired an external investigator to find the source of possible leaks of its most sensitive price data, according to people familiar with the matter. De Beers hired investigators from KPMG International in South Africa to find the source of the leaks, according... 

Ethiopia mulls new potash partner as failed deal is arbitrated

By: Bloomberg     14th September 2017 Ethiopia is considering finding a new partner to develop a potash mine abandoned last year by Israel Chemicals, which has sought compensation at an arbitration court after accusing the government of failing to support the project. Several companies are interested in developing potash deposits in... 

Guinean forces kill 1, wound several in bauxite mining town riot

By: Reuters     14th September 2017 At least one person was killed and several wounded when Guinean security forces opened fire to break up a riot in the bauxite mining hub of Boke, witnesses said on Wednesday. Boke has suffered waves of rioting rooted in a perceived failure of mining to raise living standards, despite 15-million... 

Implats reports headline loss, sees low prices as ‘new normal’

By: Martin Creamer     14th September 2017 Platinum mining company Implats, which reported an impairment-impacted 137 cents per share headline loss in the 12 months to June 30, sees the lower-for-even-longer metal price environment as 'the new normal'. In presenting results for its financial year to June 30, the JSE-listed company... 

Implats reports headline loss, sees low prices as ‘new normal’
Photo by Duane Daws
Implats CEO Nico Muller

Ballard surges on design that reduces platinum in fuel cells

By: Bloomberg     14th September 2017 Ballard Power Systems, a supplier of fuel-cell power systems, surged to a three-year high after announcing a technology breakthrough that replaces most of the high-cost platinum used in earlier design. Ballard gained 24% to $4.59 at 3:08 pm, in New York, the most intraday in more than a year and... 

Improved fundamentals prompt Moody’s to adjust higher several commodity price sensitivity ranges

By: Henry Lazenby     14th September 2017 Improved fundamentals amid global economic growth are expected to sustain a higher pricing environment for the global base metals industry, prompting credit ratings firm Moody’s Investors Service to adjust higher the price sensitivity ranges for copper, iron-ore, and metallurgical and thermal... 

Improved fundamentals prompt Moody’s to adjust higher several commodity price sensitivity ranges

Orvana lifts 2018 guidance 25%

By: Henry Lazenby     14th September 2017 Gold and copper miner Orvana Minerals has issued its new production guidance for 2018, aiming 25% higher than that of the current year. The TSX-listed miner, which owns mines in Spain and Bolivia, advised on Wednesday that fiscal 2018 gold output is estimated between 110 000 oz to 120 000 oz, at... 

All-season road to Canadian Zinc’s Prairie Creek mine proceeds to regulatory phase

By: Henry Lazenby     14th September 2017 The Mackenzie Valley Environmental Impact Review Board has recommended approval for a proposed all-season road for Canadian Zinc's Prairie Creek mine project, in the Northwest Territories. The review board issued its ‘Report of Environmental Assessment and Reasons for Decision’ on Tuesday and... 

Inca One more than doubles y/y output for July and August

By: Henry Lazenby     13th September 2017 Small-scale Peru-focused gold processor Inca One Gold has reported a 124% year-on-year increase in gold output for the months of July and August combined, it announced on Wednesday. "July and August was another productive period for Chala One and our operations team is to be commended for solid... 

Greece issues Olympias operating, tailings installation permits to Eldorado

By: Henry Lazenby     13th September 2017 Canadian gold producer Eldorado Gold confirmed on Wednesday that it has received the Olympias operating permit and the modified electromechanical installation permit for the tailings management facility at Kokkinolakkas, from the Greek Ministry of Energy and Environment. The permits were issued... 

Greece issues Olympias operating, tailings installation permits to Eldorado
The Olympias project

Canada presses Greece on 'troublesome' Eldorado Gold delays – Minister

By: Reuters     13th September 2017 Canada's Trade Minister flagged "troublesome" permit delays for Eldorado Gold in a letter to the Greek Minister of Mines and Energy earlier this year, Francois-Philippe Champagne told Reuters on Wednesday. After meeting with the company at the Toronto mining conference in March, Champagne wrote... 

Chamber agrees to Minister's written undertaking

By: Martin Creamer     13th September 2017 The Chamber of Mines advises that, following an approach by legal counsel representing Mineral Resources Minister Mosebenzi Zwane, it has reached an agreement with him through his legal counsel in respect of the chamber’s urgent interdict to prevent the implementation of Mining Charter Three, as... 

Chamber agrees to Minister's written undertaking
Chamber of Mines CEO Roger Baxter

Tethyan Resources gives listing, project updates

By: Anine Kilian     13th September 2017 Dual-listed Tethyan Resources’ decision to delist from the London’s Aim was based on the board’s consideration of challenging macroeconomic conditions and the additional costs that come with maintaining two listings. Speaking to Mining Weekly Online on Wednesday, COO Fabian Baker explained that... 

Demand for quality metals amplifying 

     13th September 2017 Global climate change mitigation is amplifying the demand for good-quality, low-impurity metals, but South Africa’s mining industry needs to be more globally competitive to take advantage of this trend. Mining Weekly editor Martin Creamer joins senior deputy editor Tracy Hancock in studio to... 

Demand for quality metals amplifying
Demand for quality metals amplifying
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