R/€ = 14.71 Change: -0.06
R/$ = 11.97 Change: -0.01
Au 1316.96 $/oz Change: 2.39
Pt 947.50 $/oz Change: -4.51

Latest News

Violent protests in Guinea disrupt some bauxite shipments

By: Reuters     13th March 2018 Opposition supporters in Guinea protested and erected barricades in the mining towns of Boke and Kamsar on Tuesday, disrupting some shipments of the aluminium ore bauxite, industry officials said. The unrest sparked by a row over local elections held in February spread from Conakry, paralysing... 

Tsodilo says DMS plant delivering results

By: Megan van Wyngaardt     13th March 2018 TSX-V-listed Tsodilo Resources has processed 724.7 t through the dense media separation (DMS) plant at its BK16 kimberlite project in Botswana, since commissioning the plant on January 18. This represented 141 samples out of a total of 243 or 6% of the tonnage. These 141 samples have generated 2... 

Endeavour FY17 earnings fall 33% y/y

By: Marleny Arnoldi     13th March 2018 Gold miner Endeavour Mining’s adjusted net earnings decreased by 33% year-on-year to $66-million for the year ended December 31, from $99-million in the prior year. 

India’s Power Ministry seeks higher railway rakes count to avoid coal shortages

By: Ajoy K Das     13th March 2018 With power demand poised to peak during the summer months and coal shortages at thermal power plant looming large, the Power Ministry is seeking a sharp rise in the availability of rakes for coal transportation from government-owned and -operated Indian Railways. In the course of meetings between... 

Hydrogen transport proposed for opencast mines

By: Martin Creamer     13th March 2018 Hydrogen transportation technology would be useful in large opencast mines, where a number of haul trucks operate in a limited radius, says RTS Africa Engineering MD Ian Fraser. Such an application could serve as a stepping stone to the realisation of the value of hydrogen technology in... 

Hydrogen transport proposed for opencast mines
Ian Fraser

Vedanta dividend payout hits record

By: Megan van Wyngaardt     13th March 2018 LSE-listed Vedanta Resources’ subsidiary Vedanta Limited on Tuesday declared a record interim equity dividend of $1.2-billion. Vedanta Resources would receive $600-million of this dividend, the company said, sending its shares in London up 2.6% to £7.82 a share. 

Anglo Asian set to start $6m, three-year exploration programme

By: Megan van Wyngaardt     13th March 2018 Aim-listed gold, copper and silver producer Anglo Asian Mining on Tuesday said that it would shortly embark on a $6-million three-year rolling exploration programme of near mine, brownfield and greenfield areas at its operations in Azerbaijan, to replace mined ounces. The miner noted that it... 

Norway's Hydro reveals additional spills from Brazil plant

By: Reuters     13th March 2018 A Norsk Hydro plant's spill of waste water in Brazil last month was more extensive than previously reported, and the company still lacks overview of the situation, it said on Tuesday. Authorities in late February ordered Alunorte, the world's largest alumina refinery, to cut output in half... 

Exploration defines new prospect at Altus’ Mali licence

By: Simone Liedtke     13th March 2018 The first phase of prospecting at exploration project generator Altus Strategies’ Sebessounkoto Sud licence, in western Mali, has defined a 2.3-km-long target – the Soa prospect.   The prospect is located about 22 km from AngloGold Ashanti and IamGold's Sadiola gold mine. “Mapping, outcrop and... 

New Congolese mining code rattling mining companies

By: Megan van Wyngaardt     13th March 2018 Beyond raising costs for domestic miners, a new mining code signed into law by Congolese President Joseph Kabila last week, poses downside risks to the investment outlook of the country’s mining industry over the coming years, as a result of heightened government intervention and regulatory... 

Botswana Diamonds starts drilling at Ontevreden kimberlite pipe

By: Simone Liedtke     13th March 2018 Aim-listed Botswana Diamonds has started drilling at the Ontevreden kimberlite pipe, which is part of the company’s Vutomi’s Joint Venture in South Africa and which contains significant quantities of G10 and G9 garnets. “We are pleased to announce the commencement of drilling at the Ontevreden... 

Eurochem produces first potash at new $2bn Russian plant

By: Reuters     13th March 2018 Russia-focused fertiliser producer Eurochem said it has produced its first potash at its new $2-billion Usolskiy plant in Russia. The project may intensify competition among suppliers of the crop nutrient in the region, traditionally dominated by Russia's monopoly producer Uralkali and... 

Russian coal miner SUEK raises $1bn syndicated loan – Interfax

By: Reuters     13th March 2018 Russian coal miner SUEK said on Tuesday it raised a $1-billion syndicated loan, Interfax reported citing a company statement. "The loan with a five-year maturity date is secured by the group's export earnings," it said. 

Coal, rapid loadout projects under construction - Exxaro 

By: Martin Creamer     13th March 2018 Diversified mining company Exxaro Resources, which began a R13-billion coal expansion programme in the second half of last year, has three coal projects and a rapid loadout station under construction, and is at the ready to develop another two coal projects, pending Department of Energy and Eskom... 

Coal, rapid loadout projects under construction - Exxaro
Exxaro Resources executive head of coal operations Nombasa Tsengwa speaks to Mining Weekly Online’s Martin Creamer, Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer

Gem sells 910 ct Lesotho Legend for $40m

By: Megan van Wyngaardt     13th March 2018 The “exceptional quality” 910 ct D-colour Type IIa diamond recovered from LSE-listed Gem Diamonds’ Letšeng mine, in Lesotho, in January, achieved a price of $40-million on tender in Antwerp, on Monday.  Reflecting its significance, the diamond, which is the fifth-largest gem-quality diamond ever... 

Gem sells 910 ct Lesotho Legend for $40m
Photo by Gem Diamonds
The Lesotho Legend

Legal challenge a hurdle, but 'not end of the road' for renewables

By: Terence Creamer     13th March 2018 The excitement associated with Energy Minister Jeff Radebe’s move to end two years of confidence-sapping uncertainty in South Africa’s independent power producer (IPP) market, turned to frustration on Tuesday when the signing of agreements for 27 renewable-energy projects was voluntarily delayed... 

Legal challenge a hurdle, but 'not end of the road' for renewables
Energy Minister Jeff Radebe

Polish JSW beats forecasts with 2017 profit, but suspends dividend

By: Reuters     13th March 2018 JSW, the European Union's biggest coking coal producer, said on Monday its 2017 net profit jumped to 2.54-billion zlotys ($745.31-million) from 6.7-million zlotys a year earlier, driven by a 65% rise in the average coking coal price. Analysts polled by Reuters had expected state-run JSW to... 

As copper booms, miners take hunt to Mongolian dunes

By: Reuters     13th March 2018 When temperatures rise and winds drop in the coming weeks, a band of explorers will hunt for copper riches in Mongolia's Gobi Desert. For years Rio Tinto has been the sole international copper mine operator in Mongolia, bound closely to a country where it has bet billions of dollars on the giant... 

As copper booms, miners take hunt to Mongolian dunes
Photo by Rio Tinto
Ancient petroglyphs from Javkhlant rock, near the Oyu Tolgoi project area in Mongolia.

Red 5 lowers March quarter guidance on Darlot mill issues

By: Esmarie Swanepoel     13th March 2018 The share price of gold miner Red 5 slid by more than 11% on Tuesday as the company amended its production guidance for the March quarter following operational issues at the Darlot mill, in Western Australia. Red 5 on Tuesday lowered its March quarter production to be between 12 000 oz and 15... 

Red 5 lowers March quarter guidance on Darlot mill issues

Dateline expands holdings in Colorado

By: Esmarie Swanepoel     13th March 2018 Metals explorer Dateline Resources has agreed to acquire the Raymond and Carter gold mines, in Colorado, adding about 1 300 acres of freehold land to its holdings. The company will purchase the freehold properties for $2-million in cash, with settlement expected within the next three months. 

Rift Valley completes Tanzanian gold project sale

By: Esmarie Swanepoel     13th March 2018 ASX-listed junior Rift Valley Resources has executed a conditional sales agreement to divest of its Kitongo gold project, in Tanzania, while also executing a mineral prospecting rights agreement over its Canuck prospecting licence. Rift Valley on Tuesday told shareholders that it had executed a... 

Triton completes Grafex deal

By: Esmarie Swanepoel     13th March 2018 Junior Triton Minerals has completed the acquisition of an economic interest in the remaining 20% shareholding of Grafex. Triton in February struck a deal with private owner Gregory James Sheffield, under which the company will purchase his 20% interest in Grafex for $1.5-million, taking its own... 

Interim reports maiden resource at Anthill

By: Esmarie Swanepoel     13th March 2018 Explorer Intermin Resources has reported a maiden mineral resource of 1.42-million tonnes, grading 1.72 g/t gold for 78 000 oz at its Anthill project, in Western Australia. Some 75% of the resource is classified as indicated, with Intermin telling shareholders on Tuesday that the mineralisation... 

South African court grants union interdict blocking renewable energy deal

By: African News Agency      13th March 2018 The National Union of Metalworkers of South Africa said it had obtained an urgent court interdict preventing power utility Eskom from signing renewable energy contracts on Tuesday with 27 independent power producers (IPPs). The move will be a blow for independent producers who say the deals would... 

South African court grants union interdict blocking renewable energy deal

Takeovers Panel declines action at Finders

By: Esmarie Swanepoel     13th March 2018 The Australian Takeovers Panel has declined to conduct proceedings against ASX-listed Finders Resources, after suitor Eastern Field Developments appealed to the watchdog to investigate the company. Eastern Field Developments in early March claimed that Finders had not provided its shareholders... 

Investors hunting cobalt deals approached Sherritt, CEO says

By: Bloomberg     13th March 2018 Sherritt International has been approached by investors seeking to buy a share of its cobalt production as a way of gaining exposure to the red-hot battery metal, the Canadian miner’s CEO said. Cobalt is rapidly becoming an investor darling as expectations of a shortage driven by the growth of... 

Canada's Trudeau tells metal workers: 'We have your backs'

By: Reuters     13th March 2018 Canadian Prime Minister Justin Trudeau promised aluminium and steelworkers on Monday he would defend them against possible US tariffs and called US President Donald Trump to stress that "mutually beneficial" cross-border supply chains should be preserved. Trump said last week he would impose... 

Canada's Trudeau tells metal workers: 'We have your backs'

Eldorado shakes up top management team

By: Henry Lazenby     13th March 2018 Canadian miner Eldorado Gold has announced several senior management changes following the resignation of its CFO Fabiana Chubbs. Chubbs, who has been CFO since 2011, will leave the company at the end of April. Eldorado said it has started a search for her successor. 

Diamcor seeks more project efficiencies as Krone-Endora at Venetia water runs low

By: Henry Lazenby     13th March 2018 Explorer Diamcor Mining has launched a nonbrokered private placement worth C$5-million in an effort to address the insufficient recoveries of water from the settling dams at its Krone-Endora at Venetia project, in South Africa's Northern Cape province. The TSX-V-listed miner is finalising... 

eCobalt appoints process manager

By: Creamer Media Reporter      13th March 2018 eCobalt Solutions is accelerating the development of its flagship Idaho project with the appointment of Darby Stacey as the mill and processing manager. Stacey will be responsible for leading all of the company's mineral processing and metallurgical activities in the historic Idaho Cobalt Belt,... 

Monarques closes C$5m financing with Ressources Québec

By: Henry Lazenby     12th March 2018 Emerging gold producer Monarques Gold has announced the closing of a C$5-million financing with Ressources Québec. The Montreal-based miner said it has successfully completed a nonbrokered private placement of 12.82-million units at C$0.39 each. 

Drilling starts on Thor's Senegal assets

By: Henry Lazenby     12th March 2018 Toronto-quoted exploration junior Thor Explorations has puller the trigger on an 8 000 m reverse circulation (RC) drilling programme on its Douta project, in south-east Senegal. This programme follows on from its successful 2017 RC drilling programme that had identified a number of wide,... 

Drilling starts on Thor's Senegal assets
Photo by Thor Explorations
Thor Explorations starts drilling at Douta, Senegal

China's Zijin Mining interested in Serbian copper mine RTB, Belgrade says

By: Reuters     12th March 2018 China's Zijin Mining Group has expressed interest in buying loss-making Serbian copper miner and smelter RTB Bor, which the Balkan state has been trying to sell for the past decade. President Aleksandar Vucic on Monday met representatives of the Chinese firm, who expressed an intention to invest... 

South Africa to become eighth country to export helium by 2019 – Renergen

By: Marleny Arnoldi     12th March 2018 Alternative and renewable energy investment firm Renergen expects to become a significant global producer of helium when its Virginia project starts production in 2019.  

South Africa to become eighth country to export helium by 2019 – Renergen
Tetra4 plant in the Free State

Zimbabwe gives mines, farmers six months to clear electricity bills

By: Reuters     12th March 2018 Zimbabwe's state-owned electricity distributor has given businesses, including mines and large-scale farms, six months to clear their bills or risk being cut off and face litigation, the company said on Monday. The Zimbabwe Electricity Transmission and Distribution Company (ZETDS) is owed more... 

Alrosa uses gas sale proceeds to repay loans

By: Creamer Media Reporter      12th March 2018 Diamond miner Alrosa has used the proceeds of the cash sale of its gas assets to repay $450-million in bank loans. The company announced on Monday that it had repaid a $250-million loan from Rosbank and a $200-million portion of its existing Raiffeisenbank loan, reducing its debt by more than 27%... 

Optimum should have gone into business rescue months ago – Hogan Lovells

By: Anine Kilian     12th March 2018 The public announcement of the Gupta-owned Optimum coal mine going into business rescue has caused much uncertainty for employees and residents living in mine-owned properties are anxious about the implications of this process for their futures. In an interview, Hogan Lovells partner Gareth... 

Gold-standard rules sought by billion-euro bitcoin broker

By: Bloomberg     12th March 2018 Bitcoin should be regulated similar to gold – which benefits from simpler compliance rules than stocks or bonds – according to Austria’s biggest broker of the digital token. While cryptocurrency transactions in the European Union above €10 000 should be subject to anti-money laundering rules,... 

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