R/€ = 16.24 Change: 0.09
R/$ = 14.29 Change: 0.11
Au 1248.04 $/oz Change: 10.00
Pt 789.40 $/oz Change: 5.05

Latest News

Oil holds drop on doubts over Opec curbs and US supply threat

By: Bloomberg     11th December 2018 Oil held its biggest loss in two weeks as uncertainty over how the Opec+ coalition will implement its output cuts and the prospect of surging US supplies kept investors wary. Futures in New York were little changed, after Monday’s 3.1% drop erased gains following last week’s pact between Saudi... 

Lydian turns to court to lift environmental order

By: Creamer Media Reporter      11th December 2018 The Administrative Court of Armenia has accepted Lydian International’s lawsuit appealing a directive by the head of the Environmental and Mining Inspection Body, which ordered a stop to mining-related activities at the Amulsar project, owing to sightings of newly-found red-listed plants and... 

Lydian turns to court to lift environmental order
The Amulsar site, in Armenia.

Zambian mines warn tax changes could lead to 21 000 job losses

By: Bloomberg     11th December 2018 Zambia’s planned mining royalty increases could lead to more than 21 000 job losses and operators cutting $500-million in capital spending over the next three years, an industry lobby group said. Members of the Chamber of Mines, which represents companies including Glencore, First Quantum... 

PDAC appoints new executive director

By: Creamer Media Reporter      11th December 2018 The Prospectors and Developers Association of Canada’s (PDAC's) board has hired Lisa McDonald, who served as its COO for ten years, as its new executive director. Over the past year, she has acted as executive director on an interim basis. 

Yet another invasion at Aura's Honduras mine

By: Mariaan Webb     11th December 2018 Midtier gold and copper miner Aura Minerals has suspended mining operations at its San Andres mine, in Honduras, following another illegal invasion by a number of individuals. The illegal occupation follows a similar event earlier this year, which in July led to the company laying off 44... 

Five positions eliminated in New Gold management shakeup

By: Mariaan Webb     11th December 2018 Canada-focused New Gold eliminated five senior management positions in a reorganisation aimed at better aligning its corporate structure with a smaller asset base, following the divestment of the Mesquite and Peak mine earlier this year. The restructuring eliminated the positions of VP,... 

Detour delays shareholders meeting as initial results show Paulson controls board

By: Mariaan Webb     10th December 2018 Detour Gold – the operator of Canada’s largest gold mine – has postponed its planned special shareholders meeting by two days, after initial results suggest that a bloc of shareholders has sided with Paulson & Co and that the US hedge fund manager will take control of the board. The special... 

Detour delays shareholders meeting as initial results show Paulson controls board
Detour board member Jim Gowans

Angola to hold first diamond auction in January, Sodiam says

By: Bloomberg     10th December 2018 Angola will conduct its first diamond auction in January as part of the southwest African country’s plan to open its economy to foreign investors, state-owned diamond-trading company Sodiam said. Seven gemstones from the Lulo mine, located in the northeast, will come under the hammer, Sodiam said... 

IronRidge starts aggressive lithium exploration regime in Ghana

By: Marleny Arnoldi     10th December 2018 Aim-listed IronRidge Resources has started a 3 000 m reverse circulation (RC) exploration drilling programme at the Abonko target, at the Ewoyaa lithium project, in Ghana. A 1 000 m diamond drilling programme is planned on completion of the RC drilling programme, for density, metallurgical... 

MOD anticipates promising copper mineralisation from T23 Dome in Botswana

By: Marleny Arnoldi     10th December 2018 ASX-listed MOD Resources has announced additional results from widely spaced drilling at the T23 Dome, of the company’s exploration joint venture project with Aim-listed Metal Tiger, in Botswana. The third drill hole at T23 has intersected zones of visible, finely disseminated copper sulphides... 

Kibo secures exclusive option to buy three peaking power sites in the UK

By: Tasneem Bulbulia     10th December 2018 Kibo Energy’s 60%-owned UK subsidiary, MAST Energy Developments (MED), has secured an exclusive option, for a nominal fee, to undertake due diligence and negotiate the potential acquisition of three peaking power sites, totalling 31.3 MW, in the UK. 

CEO joins executive exodus at Dominion Diamond

By: Bloomberg     10th December 2018 Dominion Diamond CEO Patrick Evans has left the company, marking at least the third high-profile departure in less than a year at the Canadian miner, which is owned by billionaire Dennis Washington. Evans confirmed that he departed on December 5. Shane Durgin, who was COO, took over as CEO... 

CEO joins executive exodus at Dominion Diamond

La Parrilla crusher plant achieves mechanical completion

By: Creamer Media Reporter      10th December 2018 The La Parrilla crusher plant has achieved mechanical completion, paving the way for the commissioning of mined ore from the Spain-based tungsten/tin mine in January. The 350 t/h crushing circuit, supplied by Metso Minerals Portugal, comprises a jaw crusher and secondary cone crusher both with... 

Youth-owned SMMEs receive grants through De Beers, NYDA

By: Tasneem Bulbulia     10th December 2018 Four local Blouberg youth-owned small, medium-sized and microenterprises (SMMEs) have received grants of up to R50 000 from the National Youth Development Agency (NYDA) through the intervention and support from De Beers’ Venetia Mine. Thabosilakhu Empire, Betty Catering and Deco, Roadhouse Mollax... 

Youth-owned SMMEs receive grants through De Beers, NYDA
Roadhouse Mollaz Enterprise owner Moloko Manaka

Côte d'Ivoire aims to double gold output by 2025

By: Reuters     10th December 2018 Côte d'Ivoire plans to double gold production by 2025, its vice president said on Monday, as the west African country strives to revive its long-neglected mining sector. Côte d'Ivoire, the world's top cocoa producer, is seeking to diversify revenues by increasing gold output from 25 t last year... 

Jubilee acquires chrome processing operation

By: Tasneem Bulbulia     10th December 2018 Dual-listed Jubilee Metals has entered into an agreement to acquire all of the chrome beneficiation assets including plant, equipment, intellectual property and all rights to the existing surface material – estimated to be in excess of 1.8-million tonnes – owned by PlatCro Minerals and associated... 

Gecamines increases stake in Boss Mining joint venture to 49% 

By: Reuters     10th December 2018 The Democratic Republic of Congo's State mining company Gecamines said on Monday it would increase its stake in its Boss Mining joint venture with ENRC Africa Holdings to 49% after the two companies renegotiated terms. The state miner is moving to increase its take from joint ventures with... 

Europa to progress Toral to full feasibility study

10th December 2018 Explorer Europa Metals is progressing its Toral project to full a full feasibility study to determine the economics, technical and environmental parameters for an underground mining operation in the Castilla y León region of Spain. This follows the outcomes of a positive scoping study, which... 

Europa to progress Toral to full feasibility study

Significant drill targets identified at Kavango’s Botswana project

By: Tasneem Bulbulia     10th December 2018 Kavango Resources has recorded positive results from geophysical follow-up work carried out since the completion of Phase 1 of the airborne electromagnetic (AEM) survey over its Kalahari Suture Zone (KSZ) project, in Botswana. The company noted in a statement issued on Monday that ground-based... 

India’s new EV promotion policy focus shifts to component manufacturing

By: Ajoy K Das     10th December 2018 The second stage of the Indian government’s policy for faster adoption of electric vehicles (EVs) will see a shift from offering financial incentives for purchasing EVs, to developing domestic lithium-ion battery manufacturing capacities and vehicle charging infrastructure across the country. 

Sun Metals to raise C$5.16m for Stardust project

10th December 2018 TSX-V-listed Sun Metals has entered into an agreement with PearTree Securities to raise up to C$5.16-million to fund exploration at its Stardust project, in British Columbia. PearTree, as agent for purchasers, has agreed to subscribe for up to 12.5-million flow-through common shares in Sun Metal... 

South32 inks US copper alliance with EMX

By: Mariaan Webb     10th December 2018 Diversified miner South32 has entered into regional strategic alliance agreement with a subsidiary of EMX Royalty, focusing on finding copper and other base metals projects in Arizona, New Mexico and Utah. The agreement provides funding for generative work and acquisitions over a two-year... 

GFG Alliance to build 10mt/y steel plant in South Australia

By: Reuters     10th December 2018 GFG Alliance said on Monday it would build a 10-million tonne-per-year (tpy) steel plant in the state of South Australia that would likely be funded in part by government subsidies. The new mill, relying on infrastructure from a bankrupt plant in the town of Whyalla, will focus on the production... 

Tesla lithium supplier Kidman settles ownership row over Australian mine

By: Reuters     10th December 2018 Kidman Resources, a supplier of lithium to US electric car maker Tesla said on Monday it had settled a court dispute that could have derailed joint development of a mine in Western Australian with Chile's SQM. In a statement announcing the settlement, Kidman did not specify terms. Court... 

Tesla lithium supplier Kidman settles ownership row over Australian mine

Green light for Centrex phosphate start-up operation

By: Esmarie Iannucci     10th December 2018 The Queensland Department of Environment and Science has issued an environmental permit for a start-up mining and processing operation at the Ardmore phosphate rock project. ASX-listed project owner Centrex Metals on Monday told shareholders that the environmental authority would enable the... 

Moreton extends deadline on asset talks

By: Esmarie Iannucci     10th December 2018 Diversified junior Moreton Resources has extended the deadline for expressions of interest (EoIs) over its assets, after three separate requests for extensions were lodged. Moreton in August launched a strategic review of its assets and subsidiaries in order to determine its core and noncore assets. 

Core raises funds for Finniss push

By: Esmarie Iannucci     10th December 2018 PERTH ( – ASX-listed junior Core Lithium will raise A$3-million through a share placement to accelerate resource expansion and an expanded definitive feasibility study (DFS) at its Finniss lithium project, in the Northern Territory. The company on Monday said that it has received... 

Frieda River requires $739m govt infrastructure investment

By: Esmarie Iannucci     10th December 2018 A new feasibility study into the Frieda River copper/gold project, in Papua New Guinea, has found that a government investment of some $739-million into infrastructure would be required to make the project feasible. The new feasibility study, conducted by PanAust, adopted a fundamentally... 

Frieda River requires $739m govt infrastructure investment

Southern Gold goes at it alone at Cannon underground

By: Esmarie Iannucci     10th December 2018 ASX-listed Southern Gold is hoping to fast track the development of the Cannon gold mine, in Western Australia, in 2019 after striking a deal with fellow-listed Northern Star Resources. Northern Star in March this year acquired the South Kalgoorlie operations from Westgold Resources, which... 

Mt Morgans on track for commercial production by 2019

By: Esmarie Iannucci     10th December 2018 Gold developer Dacian Gold was on track for commercial production at its Mt Morgans operation, in Western Australia, before the end of the year. Dacian on Monday reported that ore development at the Allanson underground production decline has now started, while mining activities at the Beresford... 

Vimy approves more drilling at Angularli

By: Esmarie Iannucci     10th December 2018 Uranium developer Vimy Resources will undertake further drilling work at its Angularli uranium deposit, in the Northern Territory, after a scoping study proved positive. The project has an inferred mineral resource of 0.91-million tonnes, at 1.3% uranium oxide for 26-million pounds of uranium. 

Lucapa recovers 78 ct diamond in Lesotho

By: Esmarie Iannucci     10th December 2018 A 78 ct white diamond has been recovered from the Mothae diamond mine, in Lesotho. ASX-listed Lucapa Diamond Company on Monday reported that the large diamond was recovered through the new 1.1-million-tonne-a-year treatment plant, where commercial production was declared earlier this month. 

US delays Rusal sanctions as talks with Deripaska continue

By: Bloomberg     10th December 2018 The US Treasury Department delayed imposing sanctions on Russia’s largest aluminum producer, United Co. Rusal, for the fifth time, as it seeks to strike a deal that would allow the company to escape the penalties. Treasury said in a notice Friday that licenses allowing Rusal to continue doing... 

Barrick’s Michael Brown retires ahead of Randgold merger 

By: Mariaan Webb     10th December 2018 Gold major Barrick Gold has announced management changes in its North American region ahead of the completion of its merger with Africa-focused Randgold Resources on January 1. CFO Catherine Raw will assume responsibility for the enlarged group’s US operations the newly created position of COO... 

South African gold industry enters final phase of slow death  

By: Bloomberg     10th December 2018 Back in 1987, South African President Cyril Ramaphosa – then a 34-year-old labor union leader – led 300 000 black miners in a strike that symbolized resistance to the apartheid regime. Now, striking gold workers face a less politically charged battle, but one they can’t win. The nation’s... 

South African gold industry enters final phase of slow death

Mining convention for Kore’s Kola, Dougou prospects finalised

By: Marleny Arnoldi     7th December 2018 Dual-listed Kore Potash announced on Friday that the mining convention covering the company’s proposed staged development of the Kola and Dougou mining prospects has been finalised, following ratification by the parliament of the Republic of Congo. The gazetting of the mining convention allows... 

Indian govt to mediate in NMDC, Karnataka spat over iron-ore mine

By: Ajoy K Das     7th December 2018 In agreeing to mediate in the spat between State-run miner NMDC and the government of Karnataka over Donimalai iron-ore mine, the Steel Ministry has suggested that the Karnataka government does not invite a new miner to take control of the iron-ore mine. Officials said that the Steel Ministry... 

Transnet praised for rapidly restoring stricken Saldanha iron-ore line 

By: Martin Creamer     7th December 2018 State rail transport enterprise Transnet has earned praise by pulling out all the stops to rapidly restore a railway bridge on South Africa’s crucial Sishen–Saldanha iron-ore line. The line came to a halt on November 28 after a truck carrying heavy equipment at excessive height on a public road... 

Transnet praised for rapidly restoring stricken Saldanha iron-ore line
Crucial iron-ore line back on track after rapid bridge restoration
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