http://www.miningweekly.com
R/€ = 16.85 Change: -0.02
R/$ = 14.30 Change: -0.01
Au 1208.91 $/oz Change: 6.26
Pt 836.50 $/oz Change: 12.25
 

Latest News

Innovation recognised at this year’s EMA

By: Shannon de Ryhove     13th September 2018 The South African Capital Equipment Export Council (SACEEC) awarded South African mining supplier Afri-Tech the overall innovation award and the South African Innovation award at this year’s Electra Mining Africa exhibition for its locally manufactured forced ejection nozzle. The nozzle, which is... 

De Beers wraps up Canada acquisition

By: Creamer Media Reporter      13th September 2018 Anglo America’s De Beers has completed the C$107-million acquisition of Peregrine Diamonds, with the TSX-listed company set to be delisted at the end of trading on Friday. The acquisition, announced in July, was approved by Peregrine securityholders on August 31 and by the Supreme Court of... 

Gold Fields plans to extend life of Peru mine through 2040

By: Reuters     13th September 2018 South African miner Gold Fields aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240-million, the company's vice president for the Americas said late on Wednesday. "We're doing studies with Peruvian consulting firms and international... 

Strong new collaboration with governments of South Africa, Zimbabwe – Implats 

By: Martin Creamer     13th September 2018 Platinum mining company Impala Platinum (Implats), which is collaborating closely with the South African government to preserve jobs at the heavily lossmaking Impala Rustenburg operation, is also working in very close cooperation with the government of Zimbabwe, where it has secured major tax... 

Strong new collaboration with governments of South Africa, Zimbabwe – Implats
Implats CEO Nico Muller interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer.

Alrosa reports stable international demand for large diamonds

By: Creamer Media Reporter      13th September 2018 Diamond miner Alrosa has netted $15.6-million from the sale of special large diamonds at an international auction in Israel. A total of 2 611 ct of diamonds, all weighing more than 10.8 ct, were sold in 166 lots. 

South African mining sees considerable decline of 5.2% in July – Stats SA

By: Simone Liedtke     13th September 2018 Mining production in South Africa decreased by 5.2% year-on-year in July, following a 3.7% year-on-year rise in June, mainly as a result of declines in the production of gold, iron-ore, coal and platinum-group metals (PGMs). According to Statistics South Africa (Stats SA), gold decreased by 15%,... 

South African mining sees considerable decline of 5.2% in July – Stats SA

Local mining services company owners win Entrepreneur of the Year accolade

By: Marleny Arnoldi     13th September 2018 Mining engineer Samuel Molefi and his entrepreneurial wife and business partner Motlapele Molefi have won the Entrepreneur of the Year award – a premier entrepreneurial platform sponsored by Sanlam and Business Partners every year. Samuel and Motlapele are founders and owners of Modi Mining, a... 

Local mining services company owners win Entrepreneur of the Year accolade
Modi Mining owners Motlapele and Samuel Molefi

Galileo to acquire Kabwe residual rights, 95% stake in Star zinc project

By: Marleny Arnoldi     13th September 2018 Aim-listed Galileo Resources has executed a heads of agreement to acquire the Kabwe residual rights, in Zambia, from BMR Group. The acquisition excludes BMR’s small-scale licence which is used as a zinc/lead/vanadium tailings recovery project, situated within the Kabwe mining licence.  

New Nema regulations hold advantages, disadvantages for mining industry – law firm

By: Marleny Arnoldi     13th September 2018 The mining industry is under constant pressure to demonstrate continued commitment to responsible environmental management and to the concept of sustainable development. There are currently several pieces of environmental legislation being updated or coming to the fore, which the industry will be... 

Gold Fields ranked top South African mining company, third best global gold company

By: Marleny Arnoldi     13th September 2018 JSE- and NYSE-listed Gold Fields has again been ranked the top South African mining company on the Dow Jones Sustainability Index (DJSI) benchmarking database. The DJSI scorecard for 2018, which was published on Thursday, shows that Gold Fields’ sustainability practices rank with the best of... 

Gold Fields ranked top South African mining company, third best global gold company
Photo by Creamer Media
Gold Fields CEO Nick Holland

Rising generations drive record diamond demand but require new approaches by industry

By: Rebecca Campbell     13th September 2018 The worldwide demand for diamond jewellery set a new record high of $82-billion in 2017, diamond giant De Beers reported in its “Diamond Insight Report 2018”. The driving forces behind this demand were Millennial and Generation Z (Gen Z) consumers, who, together, accounted for 66% of global... 

Rising generations drive record diamond demand but require new approaches by industry

Chaarat appoints new board member

By: Creamer Media Reporter      13th September 2018 Aim-quoted exploration and development company Chaarat Gold has appointed Robert Edwards – a mining engineer with broad institutional and corporate experience – to its board as an independent nonexecutive director. Edwards is the former chairperson of Global Mining at Renaissance Capital and has... 

Bosnia's Aluminij calls for government help to ensure survival

By: Reuters     13th September 2018 Aluminij Mostar, Bosnia's sole aluminium smelter, is at risk from high alumina and electricity prices and only urgent government intervention can help it stay on line, its GM said on Thursday. Heavily-indebted and loss-making Aluminij, which is among Bosnia's top exporters, has narrowly avoided... 

Kidman, SQM may have to forfeit lithium mine after Australian govt ruling

By: Reuters     13th September 2018 Australia's Kidman Resources and Chilean partner SQM may lose their right to develop the Mount Holland lithium project after a recommendation by a unit of the West Australian government that regulates mining leases. Kidman had asked the Western Australia Department of Mines for an exemption to... 

Europa initiate land use process for Spain mine development

By: Creamer Media Reporter      13th September 2018 Triple-listed Europa Metals has initiated a change of land use process to facilitate the potential future development of its Toral lead/zinc/silver project, in northern Spain. The company has engaged consultancy MAGMA Soluciones Ambientales to progress the requisite land use applications across... 

Ramelius buys WA gold project

By: Mariaan Webb     13th September 2018 Acquisitive Ramelius Resources on Thursday announced that it would buy the Marda gold project, about 190 km from its Edna May operation in Western Australia for A$13-million. The company, which earlier this week launched a hostile takeover for Explaurum, said that the Marda resource could be a... 

Regulator objects to Poseidon’s entitlement offer

By: Mariaan Webb     13th September 2018 Corporate regulator the Australian Securities and Investment Commission (ASIC) has approached the Takeovers Panel to prevent Andrew Forrests’ Squadron Resources from increasing its interest in ASX-listed Poseidon Resources to nearly 61% without first gaining shareholder approval. Poseidon last... 

Bushveld increases indirect interest in Vametco to 75%

By: Simone Liedtke     13th September 2018 Aim-listed Bushveld Minerals has increased its indirect beneficial interest in Vametco Alloys to 75%, from 59.1%, through the acquisition of Sojitz Noble Alloys’ 21.22% interest in Vametco’s intermediate holding company Strategic Minerals Corporation (SMC), for $20-million. Following completion... 

Resgen pursues tandem approach to funding solution for Boikarabelo

By: Simone Liedtke     13th September 2018 ASX-listed Resource Generation (Resgen) confirmed on Thursday that it had received a commitment from a lender to table a funding proposal prepared by the deal team for credit committee approval. The company, has until now, been pursuing a tandem approach to finding a funding solution for the... 

ARC Fund to act as ‘anchor investor’ in London listing of South African phosphate mine

By: Terence Creamer     13th September 2018 African Rainbow Capital Investments (ARC) has announced that its ARC Fund will participate as the ‘anchor investor’ in the upcoming London listing of the Elandsfontein phosphate mine, which is located on South Africa’s West Coast. ARC Investments, which released its maiden set of result on... 

ARC Fund to act as ‘anchor investor’ in London listing of South African phosphate mine
Elandsfontein phosphate mine

Byproduct inclusion boosts US lithium project’s economics

By: Mariaan Webb     13th September 2018 The inclusion of byproducts, including quartz, feldspar and mica, has delivered “substantial economic benefits” to the north Carolina lithium project that ASX-listed Piedmont Lithium is studying in the US. An updated scoping study determined that the recovery and selling of byproducts that are... 

Sandvik launches Leopard DI650i drill rig

By: Tasneem Bulbulia     13th September 2018 Sandvik Mining and Rock Technology has expanded its high-pressure down-the-hole (DTH) drill rig offering, with the introduction of the new Sandvik Leopard DI650i model. The drill was unveiled to the market for the first time at Electra Mining Africa, being held this week at the Nasrec Expo... 

Sandvik launches Leopard DI650i drill rig
Photo by Nadine James
Sandvik Mining and Rock Technology’s Leopard DI650i drill rig

Power plant delays fuel tensions over Rio's giant Mongolia copper mine

By: Reuters     13th September 2018 Nearly 10 years on from the launch of a giant copper and gold project in Mongolia, Rio Tinto is still looking to secure a domestic power source it needs for the mine under an agreement with the government. Oyu Tolgoi, located in the South Gobi region near landlocked Mongolia's southern border... 

Power plant delays fuel tensions over Rio's giant Mongolia copper mine

Black Mountain buys idled nickel mine from Panoramic

By: Mariaan Webb     13th September 2018 US private equity firm Black Mountain announced on Thursday that it would buy the Lanfranchi nickel mine, near Kambalda, Western Australia, as it seeks to tap into the growing battery minerals market. The company will buy the idled Lanfranchi mine from Panoramic Resources for A$15.1-million in... 

India's steel minister wants import duty on coking coal scrapped

By: Reuters     13th September 2018 India's steel minister said on Thursday he wanted the finance ministry to scrap the 2.5% duty on imports of coking coal, a key steelmaking raw material, to limit input costs. "We are pursuing a cut," Chaudhary Birender Singh told reporters. "We want to make it zero. It cannot be 2.5% to 2%." 

Metallica and Melior merger creates diversified Qld mining firm

By: Mariaan Webb     13th September 2018 Brisbane-based resources firms Metallica Minerals and Melior Resources on Thursday announced a binding merger agreement, creating a diversified Queensland mining company with near-term production potential and a pipeline of future growth opportunities. The merger will combine mineral sands and... 

Metallica and Melior merger creates diversified Qld mining firm
The merged entity will own the near-production Goondicum project, in north Queensland.

Resources Watch  

13th September 2018 DRDGold shares leap on higher-grade fillip And, DRDGold expecting rapid gold output from West Rand tailings project 

Resources Watch
Resources Watch

Implats reports after-tax loss on impairments

By: Martin Creamer     13th September 2018 Platinum mining company Impala Platinum (Implats) on Thursday reported improved gross profit of R1.6-billion but an after-tax loss on impairments. Impairments of R13.6-billion, mainly due to the restructuring of Impala Rustenburg, resulted in an after-tax loss of R10.8-billion. 

Implats reports after-tax loss on impairments
Implats CEO Nico Muller

Barrick to eliminate innovation role under decentralisation

By: Reuters     13th September 2018 Barrick Gold Corp will eliminate the executive role of chief innovation officer (CIO) as part of a broad decentralization push, the company said on Wednesday, adding that it will continue to work on innovation and productivity improvements. Barrick did not officially announce the change, which... 

GAIL to expand natural gas pipeline capacity by 50% over next three years

By: Ajoy K Das     12th September 2018 Having warded off the possibility of the company being split up, State-run natural gas marketer and logistic service provider GAIL India has firmed up plans to expand its gas pipeline network. GAIL will add 5 500 km of pipeline network to its existing 11 400 km, over the next three years, to... 

Indian mineral exploration policy and reality divergence

By: Ajoy K Das     12th September 2018 The Indian government’s ostensible policy is to double mineral exploration every year with participation of domestic and foreign private players, but foreign participation in domestic non-coal mineral exploration is on a downtrend. “We are preparing a document for increasing the participation of... 

RWE fears lignite industry collapse in hasty coal exit by Merkel

By: Bloomberg     12th September 2018 Chancellor Angela Merkel’s plan to phase out coal-fired power plants in Germany should stop short of “prematurely” closing brown coal facilities, or she risks the collapse of the nation’s mining industry as well as persistent blackouts, RWE AG said in a report. Shuttering coal plants may have a... 

RWE fears lignite industry collapse in hasty coal exit by Merkel
Angela Merkel is risking the collapse of the mining industry in Germany, RWE has warned.

Nickel price to benefit from short supply, strong steel demand through 2019

By: Reuters     12th September 2018 Slower production increases in leading supplier Indonesia and continued growth in stainless steel demand are forecast to extend a supply shortage in the global nickel market, supporting price gains through 2019. Nickel, which recently hit its lowest since December, could climb as high as $16 000... 

Mercuria to grow iron-ore business with major financing of US mine

By: Reuters     12th September 2018 Global commodities trader Mercuria Energy Group is expanding its iron ore business with a $650-million financing package for US producer Mesabi Metallics in exchange for a majority stake in the firm, Mercuria said in a statement on Wednesday. The Geneva-based firm said it had signed a memorandum... 

Yamana Gold says Argentina export tax to impact on cash flow

By: Mariaan Webb     12th September 2018 Canadian miner Yamana Gold remains on track to deliver the previously flagged “step change” in cash flow, but warned on Wednesday that the new Argentina export tax would set back its plans. Last week, Argentina President Maurico Macri announced new taxes on exports as part of a larger plan aimed... 

Yamana Gold says Argentina export tax to impact on cash flow
The Gualcamayo mine.

Congo plans to build special economic zone for cobalt users

By: Bloomberg     12th September 2018 The Democratic Republic of Congo plans to establish special economic zones for companies that manufacture goods from the country’s minerals, President Joseph Kabila said. “There is a need to create special economic zones for the final users of Congolese natural resources,” Kabila said at a... 

Gold slips amid US-China trade war concerns

By: Reuters     12th September 2018 Gold fell on Wednesday, but remained stuck in a narrow trading range as investors worry about a simmering trade war between the United States and China. Spot gold was down 0.3% to $1 193.61 an ounce at 1200 GMT, after hitting its lowest since Aug. 24 at $1 187.21 on Tuesday. US gold futures eased... 

Zest WEG Group achieves Level 1 BBBEE status

By: Simone Liedtke     12th September 2018 Motors and controls manufacturer WEG’s subsidiary, Zest WEG Group, on Wednesday announced that it has achieved Level 1 status under the Broad-Based Black Economic-Empowerment (BBBEE) Codes of Good Practice. The achievement follows just over a year after Zest WEG reached Level 2 status, in... 

Zest WEG Group achieves Level 1 BBBEE status
Photo by Dylan Slater
Zest WEG CEO Louis Meiring and logistics and operations director Juliano Vargas
RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close