R/€ = 16.39 Change: 0.01
R/$ = 13.85 Change: 0.13
Au 1289.95 $/oz Change: -1.01
Pt 936.00 $/oz Change: -3.00

Latest News

Forecast iron-ore price drop influenced by Chinese economic refocusing

By: Megan van Wyngaardt     15th November 2017 Maintaining its iron-ore price forecast at an average of $70/t for the year and $50/t for 2018, research firm BMI says its predicted price drop is influenced by China’s economic refocusing away from heavy industry. “This will dampen demand for iron-ore,” said the firm on Wednesday, adding that,... 

GoviEx Uranium granted exploration permit for Agaliouk tenement

By: Creamer Media Reporter      15th November 2017 TSX-V-listed GoviEx Uranium has been granted an exploration permit for its Agaliouk tenement, adjacent the Madaouela project, in Niger. Agaliouk adds 11.67-million pounds triuranium octoxide (U3O8) in the measured and indicated categories and 9.35-million pounds U3O8 in the inferred category to... 

German minerals firm K&S lifts Q3 earnings, adjusts Canada mine ramp-up

By: Mariaan Webb     15th November 2017 German potash and salt producer K+S on Wednesday reaffirmed its earnings forecast for the full year, as it posted higher third-quarter revenue and earnings. The Kassel-headquartered company, which has production sites in Europe, North America and South America, increased its revenue by 6%... 

German minerals firm K&S lifts Q3 earnings, adjusts Canada mine ramp-up

Lily mine remains in limbo, parties need to get together – Solidarity

By: Natasha Odendaal     15th November 2017 As the future of the distressed Lily mine hangs in the balance, trade union Solidarity has called on all parties to expedite the processes under way and make a decision on the mine’s future. With every potential transaction thus far having failing to rescue the idled operation over the past 18... 

Orion’s shares rise on Prieska metallurgical testwork update, loan facility extension

By: Megan van Wyngaardt     15th November 2017 Dual-listed base metals miner Orion Minerals’s share price on the JSE was trading 6.15% higher on Wednesday after the company announced the positive results from initial metallurgical test work at its Prieska zinc/copper project and the extension of a loan facility. Orion and mining-focused,... 

Companies from Amplats to StanChart on alert amid Zimbabwe coup

By: Bloomberg     15th November 2017 Companies are being vigilant over their operations in Zimbabwe after military vehicles descended on the capital of Harare and the army seized power, threatening President Robert Mugabe’s 37-year rule. Nedbank Group sent some South African employees home from Zimbabwe, the Johannesburg-based... 

Study urges Eskom to accelerate station decommissioning, curtail Kusile to shore up solvency

By: Terence Creamer     15th November 2017 A new study argues that cash-strapped Eskom could make immediate costs savings of up to R17-billion and boost its liquidity, without undermining security of supply, by accelerating the decommissioning of three of its older coal-fired power stations and by halting construction of units 5 and 6 at... 

Study urges Eskom to accelerate station decommissioning, curtail Kusile to shore up solvency
Meridian MD Dr Grové Steyn

India’s Steel Ministry seeks globally accepted regulations, tax for iron-ore mining

By: Ajoy K Das     15th November 2017 India’s Steel Ministry is seeking to align the domestic iron-ore mining industry with globally accepted regulations and practices as the country aims to be a 300-million-ton-a-year globally competitive steel producer by 2030. In the course of inter-Ministerial consultations about a new National... 

Savannah secures enviro permits for Oman copper projects

By: Creamer Media Reporter      15th November 2017 Aim-quoted Savannah Resources has been granted environmental operating permits for the first two of a series of planned copper mine developments in Oman, marking a “major breakthrough” for its development plans, CEO David Archer announced on Wednesday. The Ministry of Environment and Climate... 

Resgen will have funding to commission Boikarabelo

By: Megan van Wyngaardt     15th November 2017 A proposed funding facility currently under negotiation is intended to provide the total funds required to complete the construction of Resource Generation’s (Resgen’s) Boikarabelo coal mine, in South Africa’s Waterberg region, to the point of commissioning, the dual-listed company said on... 

Better regulations needed to prevent tailings dam failures – UNEP

By: Megan van Wyngaardt     15th November 2017 In the last decade, there have been over 40 mining waste failures, killing some 341 people and damaging hundreds of kilometers of waterways, affecting drinking water sources and the livelihood of communities, a new report entitled ‘Mine Tailings Storage: Safety Is No Accident’, reveals. The... 

Better regulations needed to prevent tailings dam failures – UNEP

Polish copper producer KGHM cuts 2017 investment and output targets

By: Reuters     15th November 2017 Polish copper producer KGHM cut its 2017 capital investment to around 510-million zlotys ($141.88-million) from an expected 1.02-billion due to the improving results of its foreign assets, the company said on Wednesday. The state-run firm also said that this year's output of electrolytic copper... 

Flawless 163 ct diamond reaps $34m in auction

By: Bloomberg     15th November 2017 A flawless 163 ct clear diamond fetched about $34-million at Christie’s in Geneva on Tuesday evening. The diamond, the centerpiece of an asymmetric gem-studded necklace designed by Fawaz Gruosi, founder of Geneva jeweler De Grisogono, was the largest of its kind ever auctioned. 

Walkabout buys Lonmin’s Northern Ireland exploration portfolio

By: Esmarie Swanepoel     15th November 2017 Graphite developer Walkabout Resources on Tuesday announced its plans to diversify its exploration portfolio, with the acquisition of platinum miner Lonmin’s Northern Ireland exploration portfolio. Under the terms of the transaction, Walkabout acquired Lonmin’s Northern Ireland exploration... 

Walkabout buys Lonmin’s Northern Ireland exploration portfolio

Myanmar raises A$7m for Bawdwin

By: Esmarie Swanepoel     15th November 2017 Base metals explorer Myanmar Metals will raise A$7-million through a share placement to help fund work at its Bawdwin zinc/lead/silver/copper project, in Myanmar. The company on Wednesday announced that it had received binding commitments for 100-million new fully paid shares, at a price of 7c... 

AWE launches A$48m capital raise

By: Esmarie Swanepoel     15th November 2017 Oil and gas explorer and producer AWE is hoping to raise about A$48-million through an institutional share placement and a share purchase plan (SPP). The ASX-listed company on Wednesday announced that it would issue 76.9-million shares, at a price of 50c each to institutional investors, to raise... 

Liontown to drill Kathleen Valley

By: Esmarie Swanepoel     15th November 2017 Lithium hunter Liontown Resources has been granted consent by the Minister of Aboriginal Affairs to start drilling at the Kathleen Valley lithium project, in Western Australia. The company on Wednesday told shareholders that it would now lodge a programme of works with the Department of Mines... 

Offtake partners secured for US gigafactory - Magnis

By: Esmarie Swanepoel     15th November 2017 ASX-listed Magnis Resources has reported that a binding sales agreement has been inked for 40% of the planned production from a planned lithium-ion gigafactory, in New York. Magnis is part of a global consortium which is developing a 15 GWh lithium-ion battery plant in the US. 

Apple leads way in tracing cobalt from Congo, Microsoft lags – Amnesty

By: Reuters     15th November 2017 Apple is leading the way in tracing cobalt used in its electronics to ensure the metal has not been mined by children in Democratic Republic of Congo while Microsoft is lagging, Amnesty International said. Microsoft disagreed with the pressure group's conclusions published on Wednesday. 

Trek raises cash, acquires Arunta project

By: Esmarie Swanepoel     15th November 2017 Junior explorer Trek Metals has acquired unlisted Elm Resources in a deal valued at A$300 000. Elm Resources is the owner of the Arunta lithium and cobalt project, in the Northern Territory, which includes seven exploration licenses applications totaling 5 274 km2. 

Piedmont gains more ground in US

By: Esmarie Swanepoel     15th November 2017 Emerging lithium development company Piedmont Lithium has increased its foothold in North Carolina, acquiring a further 188 acres from local landowners. The company currently holds some 903 acres within the Carolina tin spodumene belt, with the ASX-listed company aiming to consolidate landholding... 

China's copper smelters insist no concentrate deficit after surprise Shanghai meeting

By: Reuters     15th November 2017 China's top copper smelters held an unscheduled meeting in Shanghai on Tuesday to reaffirm their position that there will be no shortage of copper concentrate supply in 2018 as the key contract renegotiation season hots up. The 10 companies on the China Smelters Purchase Team (CSPT) met to... 

Indonesia amends contracts with 13 coal mining companies

By: Reuters     15th November 2017 Indonesia has amended contracts with 13 coal mining companies, including some of the country's biggest producers of the fossil fuel, as part of a shift towards a new mining permit system it expects to boost government revenues. Indonesia's 2009 mining law requires companies to transfer from... 

Glencore is said close to creating mining royalty company

By: Bloomberg     15th November 2017 Glencore is close to finalising a $700-million deal with the Ontario Teachers’ Pension Plan to create a new base-metals royalty company, according to people familiar with the matter. The Swiss commodity giant will bring royalty agreements from about 10 mines, while Ontario Teachers’ will... 

Glencore is said close to creating mining royalty company
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

Trevali stock takes a dip on surprise Q3 loss

By: Henry Lazenby     15th November 2017 Zinc producer Trevali Mining has had a tough day on the TSX, seeing its stock dive as deep as 7.3% during intraday trading after the company reported a net loss of $7.8-million, or $0.01 a share for the three months ended September. The Vancouver-based zinc producer attributed the net loss mainly... 

Osisko Mining hits 301 g/t gold over 6.2 m at Lynx

By: Henry Lazenby     15th November 2017 Gold explorer Osisko Mining has reported more high-grade intercepts at its show-stopping Windfall Lake property, in Urban Township, Quebec, this time hitting 301 g/t gold over 6.2 m at the Lynx zone. The intercept was made in drill hole OSK-W-17-909, which forms part of an ongoing 800 000 m drill... 

Paulson holds stake unchanged in SPDR Gold Trust Q3 – filing

By: Reuters     15th November 2017 Paulson & Co held its stake unchanged in the world's biggest gold exchange-traded fund in the third quarter, a 13F filing with the US Securities and Exchange Commission showed on Tuesday. New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in SPDR Gold Trust at... 

Gowest aims to unlock refractory gold potential of legendary Timmins Camp

By: Henry Lazenby     14th November 2017 Little-known exploration and development company Gowest Gold is preparing to become the newest gold producer in the legendary Timmins Gold Camp, which, since its discovery in the early 1900s, has produced almost half of all the gold mined in Canada. The TSX-V-listed company is moving its North... 

Gowest aims to unlock refractory gold potential of legendary Timmins Camp
Photo by Gowest Gold
Construction underway at Gowest Gold's North Timmins gold project, in Ontario

Brazil-focused Serabi to bolt-on Anfield’s Coringa gold project for $22m

By: Henry Lazenby     14th November 2017 Dual-listed mining and development company Serabi Gold is looking to double output with the acquisition of the Coringa gold project, located in the Tapajos gold province of Para state, in Brazil. The LSE Aim- and TSX-listed miner announced early on Tuesday morning that it will acquire the... 

Brazil-focused Serabi to bolt-on Anfield’s Coringa gold project for $22m
Photo by Anfield Gold
Drill core from Anfield Gold's Coringa project, in Brazil, which is being acquired by Serabi Gold for $22-million

Court allows parties to join CoM’s application for Mining Charter review

By: Megan van Wyngaardt     14th November 2017 The High Court has granted a request by the Centre for Applied Legal Studies (CALS) and Lawyers for Human Rights (LHR), which represent certain mining community organisations, to join the Chamber of Mines’ (CoM’s) application for a review of the third iteration of the Mining Charter. The CoM had... 

Mining Charter could hinder South Africa’s economic growth – Solidarity

By: Anine Kilian     14th November 2017 Trade union Solidarity says that 25 177 jobs have been affected by retrenchments in the mining industry in 2017 and points to the much-talked-about contentious Mining Charter Three as a major contributing factor. “The Mining Charter puts a damper on the industry and is conducive to mining... 

Alphamin eyes AltX listing, proposes final $50m raising for Bisie construction

By: Natasha Odendaal     14th November 2017 TSX-V-listed Alphamin Resources is working to jump the final funding hurdle for its Bisie tin project, in the North Kivu province of the Democratic Republic of Congo, through a secondary inward listing on the AltX of the JSE. The exploration and development company has already raised or secured... 

Alphamin eyes AltX listing, proposes final $50m raising for Bisie construction

Atlatsa incurs $292m loss

By: Martin Creamer     14th November 2017 Toronto- and Johannesburg-listed platinum-mining company Atlatsa, which has platinum assets on the northern and eastern limbs of the Bushveld Complex, incurred a net loss of $292.6-million in the nine months to September 30, when its liabilities exceeded its assets by $142.5-million. The main... 

Atlatsa incurs $292m loss
Photo by Duane Daws
Atlatsa chief commercial officer Joel Kesler

Afritin targets Africa tin champion title, Namibia project upscaled to commercial production 

By: Mia Breytenbach     14th November 2017 Following the demerger of Afritin Mining from Aim-listed Bushveld Minerals – and its subsequent listing as the only pure - play tin platform on the Aim last week – the company, which has assets in Namibia and South Africa, will focus on becoming “The Africa tin champion” by bringing its flagship... 

Afritin targets Africa tin champion title, Namibia project upscaled to commercial production
Afritin Mining CEO Anthony Viljoen discusses newly- Aim-listed Afritin Mining and its strategies. Video and Editing: Nicholas Boyd.

Polyus shares to be included in MSCI Russia index

     14th November 2017 Gold miner Polyus announced on Tuesday that Morgan Stanley Capital International (MSCI) would include the company’s shares into its Russia and emerging markets indices at the end of the month. Polyus CEO Pavel Grachev said that the inclusion in the MSCI Index has been a long standing objective... 

Exploration boosts Ariana’s confidence in Salinbas project

By: Creamer Media Reporter      14th November 2017 Turkey-focused explorer Ariana Resources is encouraged by the results of its latest exploration across the so-called hot gold corridor in Turkey, where its one-million-ounce Salinbas project is located. The Salinbas gold project comprises the Salinbas gold/silver deposit and the Ardala... 

Winmar withdraws from Spain JV, reduces salaries by 50%

By: Mariaan Webb     14th November 2017 Australia’s Winmar Resources has slashed its staff salaries and directors fees by half to minimise cash outflows until it has secured a new lead project. The announcement on Tuesday comes a day after the company said that it had withdrawn from the Lomero joint venture project with Kimberly... 

Xtract Resources raises £1.7m to pay debt, fund Manica opportunities

By: Megan van Wyngaardt     14th November 2017 Aim-listed Xtract Resources has conditionally raised £1.7-milion, before expenses, through the placement of 59.64-million new ordinary shares at 2.85p a share. The net proceeds from the placing will be used to pay off outstanding debt of £530 000 and to take advantage of commercial opportunities... 

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