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Latest News

Finders expects lower Dec quarter copper output, higher costs

By: Esmarie Swanepoel     17th November 2017 Copper miner Finders Resources reported on Friday that a delay at its Wetar copper project, in Indonesia, would see quarterly production remain below par. The company lowered its copper cathode production for the December quarter to be between 4 000 t and 5 000 t, from a previous estimate of... 

More ounces added at Antipa's Citadel project

By: Esmarie Swanepoel     17th November 2017 ASX-listed Antipa Minerals has reported a 50% increase in gold grade and ounces at its Citadel project’s Calibre deposit, in Western Australia, following an exploration programme funded by major Rio Tinto. The Calibre deposit is now estimated to host an inferred mineral resource of 47.7-million... 

Lithium Power shares rise as Chinese show interest

By: Esmarie Swanepoel     17th November 2017 The share price of Lithium Power International increased by nearly 9% on Friday on news of Chinese interest at the Maricunga lithium brine project, in Chile. Lithium Power on Friday confirmed that its Chilean joint venture partner has entered into discussions with Chinese major Fulin Group, over... 

Korab takes another look at Winchester

By: Esmarie Swanepoel     17th November 2017 ASX-listed Korab Resources has initiated an update to the prefeasibility study (PFS) of its Winchester magnesite project, in the Northern Territory, with the aim of incorporating the recent increase in global magnesium carbonate prices, potential changes to the mine lay-out and openpit contours,... 

Polish coal miner JSW's Q3 profit falls short of estimates

By: Reuters     17th November 2017 JSW, the European Union's biggest coking coal producer, reported a net profit of 360-million zlotys ($100.3-million) in the third quarter compared with a net loss of 139-million zlotys a year ago, thanks to higher coal prices and lower costs. The third-quarter bottom line in the state-run JSW... 

Polish coal miner JSW's Q3 profit falls short of estimates

Barra raises cash for Mt Thirsty

By: Esmarie Swanepoel     17th November 2017 Junior metals explorer Barra Resources will raise A$1-million through a share purchase plan (SPP) to advance its Mount Thirsty cobalt project, in Western Australia, to beyond the recently completed scoping study. The SPP will allow shareholders to subscribe for up to A$15 000 worth of new... 

Fire hits Freeport Indonesia port facility in Papua

By: Reuters     17th November 2017 A fire broke out at the main port used by copper miner Freeport-McMoRan Inc in Papua, Indonesia, on Thursday night, the company said. The fire occurred at the Amamapare port in a plant where copper concentrate from the giant Grasberg copper mine is processed before loading onto vessels for... 

Cobalt hedging not mining the route for VW in EV drive

By: Reuters     17th November 2017 Volkswagen is not looking to secure long-term supplies of cobalt, a key ingredient of electric-car batteries, by investing in mines, a senior official at the automaker said. Demand for cobalt is expected to soar as carmakers rush to embrace electric vehicles (EVs) in response to governments... 

BHP facing uncertain future as shareholders push for change

By: Esmarie Swanepoel     17th November 2017 Ratings agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates & Elliot International, has been picking at... 

BHP facing uncertain future as shareholders push for change

Alamos shareholders support Richmont acquisition

By: Henry Lazenby     17th November 2017 The majority of Alamos Gold shareholders have voted in favour of its planned $747-million acquisition of boutique gold producer Richmont Mines. Richmont shareholders also on Thursday approved the transaction. 

Teck declares supplemental dividend of C$0.40 a share

By: Henry Lazenby     17th November 2017 Canadian diversified miner Teck Resources has declared a C$260-million supplementary dividend to return surplus cash on hand to shareholders, while simultaneously announcing a C$230-million share buyback programme. The Vancouver-headquartered company reported a strong balance sheet at the end of... 

Argentina Lithium embarks on 10 000 m drill campaign; open to more acquisitions 

By: Henry Lazenby     17th November 2017 TSX-V-listed lithium explorer Argentina Lithium on Thursday announced that it has appointed a new project manager to oversee a 10 000 m exploration drilling campaign at its two active projects in Argentina – located within the prospective Arizaro and Incahuasi salars. The Vancouver-headquartered... 

Argentina Lithium embarks on 10 000 m drill campaign; open to more acquisitions
Argentina Lithium president and CEO Nikolaos Cacos discusses the company’s new 10 000 m exploration drilling campaign spread over its two main lithium assets, in Argentina. Video: Henry Lazenby; Editing: Lionel da Silva.

Mining Weekly iPhone and Android Apps available for free download 

     17th November 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

Mkango shares jump on Talaxis investments

By: Natasha Odendaal     16th November 2017 The share price of Mkango Resources on the LSE surged by up to 135% on Thursday afternoon after the company reported securing a £12-million direct investment that will enable the funding of a bankable feasibility study (BFS) for its Songwe Hill rare-earth project, in Malawi. The company’s shares... 

Mkango shares jump on Talaxis investments

Pallinghurst director takes up position as Jupiter Mines CEO

By: Anine Kilian     16th November 2017 Priyank Thapliyal has been appointed CEO of Jupiter Mines, in which Pallinghurst Resources holds an 18.4% interest. Thapliyal has, therefore, resigned as executive director of Pallinghurst, with his responsibilities to be absorbed by the other executive directors on the board. 

Geomysore’s Jonnagiri has potential to be India’s first private gold mine

By: Mariaan Webb     16th November 2017 Gold firm Geomysore Services India, in which Aim-listed Lionsgold has a 21.15% shareholding, has completed a feasibility study for the Jonnagiri gold project, demonstrating the project’s potential to be developed into India’s first privately-owned gold mine. The Jonnagiri project, in the state of... 

Eskom’s ‘business-as-usual’ tariff application comes under fire

By: Terence Creamer     16th November 2017 The “business as usual” stance adopted by Eskom in its application for a 19.9% increase in tariffs for 2018/19 came under sustained attack during the Gauteng leg of the National Energy Regulator of South Africa’s (Nersa’s) public hearings on Thursday. Eskom interim CEO Sean Maritz kicked off the... 

Eskom’s ‘business-as-usual’ tariff application comes under fire
Photo by Duane Daws
Nersa's Chris Forlee, Khomotso Mthimunye, Mbulelo Ncetezo, Jacob Modise and Nomfundo Maseti

Kibo upgrades MCPP MoU

By: Anine Kilian     16th November 2017 Aim-listed minerals and exploration development company Kibo Energy has upgraded its existing Memorandum of Understanding (MoU) with the Tanzania Ministry of Energy and the Tanzania Electric Supply Company (Tanesco), regarding a power purchase agreement (PPA) for the development and... 

DRC State mining company under fire 

     16th November 2017 Certain revenues of the Democratic Republic of Congo State mining company have not been directed to the public treasury and are largely beyond the realm of public oversight, claims a report by the Carter Centre. Mining Weekly editor Martin Creamer joins senior deputy editor Tracy Hancock in... 

DRC State mining company under fire
DRC State mining company under fire

Atalaya encouraged by positive copper expansion study

By: Mariaan Webb     16th November 2017 The expansion of the Proyecto Riotinto copper mine in Andalucía, Spain, is “technically and financially robust”, a study into the feasibility of increasing capacity beyond 9.5-million tonnes a year has found. Dual-listed Atalaya Mining reported on Thursday that it had completed the study, which... 

Atalaya encouraged by positive copper expansion study
The Proyecto Riotinto mine.

Orion initiates hitech regional exploration in Northern Cape

By: Martin Creamer     16th November 2017 Sydney- and Johannesburg-listed company Orion Minerals will from November 26 initiate an airborne survey across a large area of South Africa’s Northern Cape as part of a regional exploration programme that will make use of the latest available technology in an area last explored in the 1980s.... 

Orion initiates hitech regional exploration in Northern Cape
A SkyTEM survey operation.

ONGC remains committed to Venezuelan oil project

By: Ajoy K Das     16th November 2017 Despite a default in sovereign debt by Venezuela, Indian oil and gas major ONGC has clarified in a statement that it will continue implementation of the San Cristobel oilfield project, in the politically and economically embattled Latin American country. ONGC said this week that the November 2016... 

India’s SCCL to start work on six coal mines

By: Ajoy K Das     16th November 2017 India’s second-largest coal miner, Singareni Collieries Company Limited (SCCL), is planning to start work on six mines before the end of March. Besides ramping up production capacity, the opening up four underground and two opencast projects will enable SCCL to bridge the productivity gap... 

CSIR signals renewables-led electricity mix by 2050

By: Terence Creamer     16th November 2017 The CSIR Energy Centre has published updated research outcomes indicating that South Africa’s least-cost electricity mix, by 2050, includes predominantly solar photovoltaic (PV) and onshore wind contributing nearly 80% of the country’s electrical energy. The research outcomes, which were released... 

CSIR signals renewables-led electricity mix by 2050
CSIR Energy Centre principal engineer Jarrad Wright

Gascoyne extends Dalgaranga mine life

By: Esmarie Swanepoel     16th November 2017 Gold developer Gascoyne Resources has added ounces to its Dalgaranga project, in Western Australia, which could extend gold production to beyond the planned six years. The ASX-listed miner on Thursday announced that the mine plan for the Dalgaranga project had been updated to include the... 

Mustang announces outcomes of ruby strategy review

By: Esmarie Swanepoel     16th November 2017 Ruby miner Mustang Resources will implement a number of measures to fine tune its operational strategy, including temporarily suspending the artisanal miner development programme (AMDP) following disappointing results from its maiden tender. Mustang earlier this month launched a review into the... 

Mustang announces outcomes of ruby strategy review

Santos denies takeover rumours

By: Esmarie Swanepoel     16th November 2017 Oil and gas major Santos on Thursday refuted claims that it was engaged in takeover talks with Harbour Energy. The company told shareholders that it had received a confidential, nonbinding conditional and indicative proposal from Harbour Energy in August, to acquire all the shares in Santos for... 

Cazaly changes focus at Mt Venn

By: Esmarie Swanepoel     16th November 2017 Junior Cazaly Resources is reviewing the base metal potential of its Mount Venn project, in Western Australia, after fellow-listed Great Boulder Resources discovered copper/nickel/cobalt mineralisation at its own Yamarna project. The results from Great Boulder’s first nine holes at its Yamarna... 

Kingsgate facing board spill

By: Esmarie Swanepoel     16th November 2017 Embattled gold miner Kingsgate Consolidated is facing a board spill after shareholder Metal Tiger requested a general meeting to remove a number of the company’s directors. Metal Tiger is hoping for shareholder support to remove Ross Smyth-Kirk, Sharon Skeggs and Peter Warren as directors of... 

New Hope increases output and sales

By: Esmarie Swanepoel     16th November 2017 Coal miner New Hope has reported an increase in both production and sales during the quarter ended October, as weather conditions in New South Wales improved. Total saleable coal production during the three months under review reached 2.37-million tonnes, up from the 2.24-million tonnes... 

Nkwe resumes trading on the ASX

By: Esmarie Swanepoel     16th November 2017 South Africa-focused Nkwe Platinum has resumed trading on the ASX after nearly a year, following the lifting of a Section 47 notice on its Garatau project, in Limpopo. The South African Department of Mineral Resources (DMR) issued the Section 47 notice in October last year, threatening to... 

Zeta ups holding in three companies

By: Esmarie Swanepoel     16th November 2017 ASX-listed Zeta Resources has executed a binding term sheet that would see it increase its stake in three resource companies. Zeta on Thursday announced that it would acquire investment holding company Axelrock for 110.8-million shares, at a deemed issue price of 45.2 c a share, valuing the... 

China's Chalco plans to launch Guinea bauxite mine by early 2018

By: Reuters     16th November 2017 A unit of China's biggest state-run aluminium firm, Chinalco, plans to start producing bauxite at its project in the West African nation of Guinea later this year or early in 2018, a company executive said on Thursday. Guinea's mines ministry said in August that Chalco, Chinalco's listed arm,... 

BHP eyes two-year exit from shale; also selling nickel

By: Reuters     16th November 2017 BHP Billiton said on Thursday it hopes to fully divest its troubled US onshore shale business in around two years and is also seeking a buyer for its nickel business in Australia. The renewed push to unload both sets of assets, which the world's biggest mining company no longer deems strategic,... 

BHP eyes two-year exit from shale; also selling nickel
BHP CEO Andrew Mackenzie

'Raj Pink' diamond fails to sell at Geneva sale – Sotheby's

By: Reuters     16th November 2017 "The Raj Pink", the largest known diamond graded "fancy intense pink" for its rare colour, was among several major jewels stranded on the auction block on Wednesday at Sotheby's sale in Geneva. The cushion-shaped stone, weighing 37.30 ct and mounted on a ring, was billed as the star lot at... 

Investor TCI demands UK's LSE answer more questions in board tussle

By: Reuters     16th November 2017 Activist investor TCI has demanded the London Stock Exchange answer a series of questions ahead of a shareholder meeting called by the fund to oust the chairperson over his handling of the planned replacement of its chief executive. Among the questions TCI wants answered by the LSE board before... 

Vale CEO Schvartsman cuts investments in low-return segments

By: Reuters     16th November 2017 Vale will halt new investments in low-return segments like its nickel business, the company's CEO said on Wednesday. Fabio Schvarstman told investors in a conference in New York on Wednesday that he expects nickel prices to recover over the medium term, as demand for the metal rises thanks to... 

Bloom Lake restart breathes new life into Quebec/Labrador economies

By: Henry Lazenby     16th November 2017 Champion Iron Ore announced the official restart of the Bloom Lake mine, near Fermont, Quebec, on Wednesday, providing a healthy economic injection to the region through the employment of 450 people. Hitting a significant milestone only 19 months after acquiring the mothballed high-grade iron-ore... 

Bloom Lake restart breathes new life into Quebec/Labrador economies
Photo by Henry Lazenby
Caterpillar trucks stand at the ready to haul iron-ore at Champion Iron Ore's Bloom Lake mine, Quebec
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