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Latest News

Switzerland widens investigation into Gunvor Congo Republic deal

By: Reuters     12th September 2017 Switzerland's attorney general has widened a bribery investigation into a former employee of commodities trader Gunvor Group in the Republic of Congo to include the company itself, Gunvor said in a statement on Monday. Gunvor said the investigation was expanded to "examine possible organizational... 

Evolution considering offers for Edna May

By: Esmarie Swanepoel     12th September 2017 Gold miner Evolution Mining said on Tuesday that it was evaluating the potential sale of its Edna May gold mine, in Western Australia, after receiving a “number of offers” from interested parties. The ASX-listed company reported that it was determining whether the potential sale of the Edna May... 

Evolution considering offers for Edna May

Work to start on WA lithium JV as Kidman and SQM finalise agreement

By: Esmarie Swanepoel     12th September 2017 ASX-listed Kidman Resources and lithium producer Sociedad Quimica y Minera de Chile SA (SQM) have finalised the joint venture (JV) agreement over the Mt Holland lithium project, in Western Australia. The transaction, first announced in July, will see SQM invest $110-million to acquire a 50%... 

Ironbark updates Greenland project’s feasibility study

By: Esmarie Swanepoel     12th September 2017 An updated feasibility study (FS) into the Citronen zinc-lead project, in northern Greenland, has estimated that a capital investment of $514-million would be required to support the 3.3-million-tonne-a-year operation. With a production rate of up to 200 000 t/y of zinc metal and a mine life of... 

Mustang beats tender targets

By: Esmarie Swanepoel     12th September 2017 Ruby miner Mustang Resources has exceeded its first auction target. The miner on Tuesday reported inventory levels of 277 000 ct, which meant that Mustang is on track to exceed its 300 000 ct target for its maiden tender in October. 

Sheffield signs first offtake agreement

By: Esmarie Swanepoel     12th September 2017 Mineral sands developer Sheffield Resources on Tuesday announced its first binding offtake agreement over its Thunderbird project, in Western Australia. Under an offtake agreement with Indian ceramics company Ruby Ceramics, Sheffield would supply 6 000 t/y of zircon from the Thunderbird project,... 

Adani invests in Australian renewables

By: Esmarie Swanepoel     12th September 2017 Indian major Adani has started work on its first solar plant, after receiving development approval from the Isaac regional council, in Queensland. The 65 MW first stage of the solar plant is expected to cost more than A$100-million to complete, and will be built on a 600-ha block that is part... 

Century tailings estimate increases

By: Esmarie Swanepoel     12th September 2017 ASX-listed junior New Century Resources has reported a 23% increase in the zinc metal content at the Century tailings deposit, in Queensland. The tailings deposit is estimated to host a measured resource of 78.9-million tonnes, at 3.02% zinc, 0.47% lead and 12.4 g/t silver for a total contained... 

Lonmin woes make its stock the top sell call in Johannesburg

By: Bloomberg     12th September 2017 Lonmin is struggling to find admirers among analysts, who have doubled the number of sell recommendations on its Johannesburg stock in the past two years. The world’s third-largest platinum producer has 16 sell calls, more than any other member of South Africa’s FTSE/JSE Africa All Share Index,... 

Lonmin woes make its stock the top sell call in Johannesburg

Eldorado's suspension threatens Greece's investment image

By: Bloomberg     12th September 2017 Eldorado Gold has put Greece on the spot. The Canadian mining company’s decision on Monday to suspend all its operations in Greece, citing delays in acquiring routine permits, puts the Syriza government of Prime Minister Alexis Tsipras in a difficult position.  

Eldorado's suspension threatens Greece's investment image
Eldorado Gold's Skouries mine, Greece

Sensitivity study lifts Dalradian’s mineable Curraghinalt ounces

By: Henry Lazenby     12th September 2017 Project developer Dalradian Resources now has 32% more mineable gold ounces at its flagship Curraghinalt project, in Northern Ireland, after its undertook a sensitivity study on two of the best veins at the project. The TSX- and Aim-listed junior used a revised resource modelling approach on the... 

PotashCorp, Agrium merger gets no-strings thumbs up from Canada’s competition bureau

By: Henry Lazenby     12th September 2017 Merging potash firms Potash Corp of Saskatchewan and Agrium Inc say they have received an unconditional approval from the Canadian Competition Bureau (CCB) for their proposed merger of equals. The transaction, billed as a “merger of equals”, which will see the creation of a new $36-billion... 

Eastmain lifts Eau Claire grade, proceeds with PEA

By: Henry Lazenby     12th September 2017 TSX-listed project developer Eastmain Resources has started a preliminary economic assessment (PEA) on the Eau Claire deposit, located on its 100%-owned Clearwater property in James Bay, Quebec. The news follows the company's release on Monday of an updated mineral resource estimate for Eau... 

Alamos picks up boutique miner Richmont for $747m

By: Henry Lazenby     11th September 2017 Intermediate gold producer Alamos Gold has agreed to buy small-scale gold producer Richmont Mines in an all-scrip transaction valued at $747-million, the companies announced on Monday. The transaction will consolidate Alamos’ position as a midtier gold producer, adding Island Gold... 

NexGen secures outstanding stake in prospective Dufferin Lake property

By: Henry Lazenby     11th September 2017 Uranium explorer NexGen Energy has entered a purchase agreement with Rainmaker Resources and Eagle Trail Properties to acquire the 40% outstanding interest in its Dufferin Lake property. The Vancouver-based company and the vendors had previously entered into a mineral claim option agreement dated... 

Coeur Mining buys Denham-backed JDS Silver for up to $250m

By: Henry Lazenby     11th September 2017 Private equity firm Denham Capital has agreed to sell its 100% stake in silver producer JDS Silver to Coeur Mining – the largest US-based primary silver producer – in a transaction worth up to $250-million. The transaction will see Coeur gain access to the high-grade Silvertip silver/zinc/lead... 

Centerra, Kyrgyzstan resolve long-standing legal standoff

By: Henry Lazenby     11th September 2017 Canadian gold producer Centerra Gold and the Kyrgyzstan government have reached a wide-ranging settlement agreement that resolves a years-long legal standoff, the company announced on Monday. The agreement, first rumoured by the media on Thursday, pushed Centerra’s Toronto-listed stock up 4.2%... 

Centerra, Kyrgyzstan resolve long-standing legal standoff
Photo by Centerra Gold
Centerra Gold's Kumtor mine, Kyrgyz Republic

Jupiter confirms $25m distribution through share buyback

By: Natasha Odendaal     11th September 2017 Jupiter Mines on Monday announced an off-market equal access share buyback, effectively returning $25-million to its shareholders through an offer to buy back 4% of their shares for $0.29 apiece. The buyback will be funded from a R250-million cash distribution loan repayment from Tshipi é Ntle... 

Ivanhoe confident of expanding Kamoa-Kakula into a top three global copper deposit

By: Natasha Odendaal     11th September 2017 TSX-listed Ivanhoe Mines is confident that the Kamoa-Kakula deposit, ranked the fifth-largest copper deposit in the world, will take one of the top three rankings on the back of the “unprecedented rate of growth” of the high-grade copper resources in the Democratic Republic of Congo (DRC).... 

Demand for quality metals amplifying – ARM 

By: Martin Creamer     11th September 2017 Global climate change mitigation is amplifying the demand for good quality, low-impurity metals, which are being rewarded with high price premiums. There is a huge drive in China towards better quality, which will eventually use less energy and cause less pollution. (Also watch attached Creamer... 

Demand for quality metals amplifying – ARM
African Rainbow Minerals CEO Mike Schmidt discusses of price premiums being paid for quality with Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer

Faced with shifts in technology, the mining industry will need to adapt

By: Kim Cloete     11th September 2017 The mining industry will need to adapt to ongoing changes in technology and involve all players in each step of the process, suggests change management analyst Petro du Pisani. Du Pisani from IntegriChange, who has a longstanding record in the mining industry, told delegates attending the South... 

Ortac strengthens strategic focus on high potential African exploration

By: Natasha Odendaal     11th September 2017 Aim-listed Ortac Resources has set its focus exclusively on its high-potential African exploration mining assets after a board revamp set a strategy review in motion. The exploration and mine development company aims to fast-track its core gold and copper assets in the Democratic Republic of... 

Zambia copper output to ease slightly this year

By: Reuters     11th September 2017 Zambia's copper production is expected to inch lower to 753 992 t this year from 774 290 t in 2016 mainly due to lower output from Konkola Copper Mines, a subsidiary of London-listed Vedanta Resource, the mines ministry said on Monday. Production at Konkola Copper Mines is expected to decline by... 

Goldplat heads to High Court over Rand Refinery dispute

By: Creamer Media Reporter      11th September 2017 Aim-listed Goldplat has taken to the High Court of South Africa, Gauteng Local Division, to recover the fees owing and payable to its subsidiary Goldplat Recovery by Rand Refinery. This followed Goldplat’s comments in April that failure to resolve the long-standing dispute between the parties... 

Glencore's Mopani agrees to pay new higher electricity tariffs

By: Reuters     11th September 2017 Glencore's Zambian unit Mopani Copper Mines (MCM) will pay increased electricity prices caused by the removal of state energy subsidies, the mines minister said Monday. Copperbelt Energy Corporation (CEC), which buys power from the State-owned electricity company and sells to mines, slashed... 

Petra halts Williamson operations after key personnel questioned over seized diamond consignment

By: Natasha Odendaal     11th September 2017 London-listed Petra Diamonds on Monday said it had temporarily idled the operations of its 75%-owned Williamson mine, in Tanzania, for “health and safety and security reasons”, as key personnel cooperate with authorities over a blocked diamond shipment. The company on Monday confirmed that a... 

Johannesburg listing on the cards for Australia’s Orion

By: Natasha Odendaal     11th September 2017 Australian minerals exploration company Orion Minerals expects to start trading on the main board of the Johannesburg bourse on September 18, as it progresses its base metals development strategy in South Africa. Orion, which has received approval from the JSE for a secondary listing under the... 

Johannesburg listing on the cards for Australia’s Orion

KAZ appoints CFO to take over from Southam

By: Creamer Media Reporter      11th September 2017 Copper miner KAZ Minerals has appointed Intertek FD John Hadfield as its new CFO, effective January 1. Before joining the UK arm of Intertek, Hadfield spent over 14 years at BG Group and Royal Dutch Shell. 

Stellar to raise £330 000 to pay for Tonga, Tonguma enviro licences

By: Natasha Odendaal     11th September 2017 London-listed Stellar Diamonds has conditionally raised, through Peterhouse Corporate Finance, £330 000 through the issue of 10.15-million new ordinary shares at an issue price of 3.25p a share. The placing is expected to be completed by September 14, conditional on the receipt of the funds in... 

Eldorado Gold suspension to affect over 2 000 workers in Greece

By: Mariaan Webb     11th September 2017 Canada’s Eldorado Gold on Monday announced that it would suspend investment at its operations in Greece, citing delays in obtaining routine permits and licences for the construction of the Skouries and Olympias projects. The company said that no additional investment would be made into the... 

Eldorado Gold suspension to affect over 2 000 workers in Greece
The Stratoni plant and processing facilities.

Minister amends Efic mandate to support resource projects

By: Esmarie Swanepoel     11th September 2017 Federal Trade, Tourism and Investment Minister Steven Ciobo has mandated the Export Finance and Insurance Corporation (Efic) to support onshore resource and related infrastructure projects, in instances where there is a “demonstrated market gap” in the availability of private sector finance.... 

Minister amends Efic mandate to support resource projects

Pilbara starts initial work on expanded Pilgangoora

By: Esmarie Swanepoel     11th September 2017 Lithium developer Pilbara Minerals has started initial work on the five-million-tonne-a-year expansion at its Pilgangoora operation, in Western Australia, even as it works toward achieving Stage 1 production by the second quarter of 2018. Pilbara on Monday told shareholders that the company had... 

Allegiance PFS proves up Stage 1 Telkwa plans

By: Esmarie Swanepoel     11th September 2017 A prefeasibility study (PFS) into the Stage 1 development of the Telkwa metallurgical coal project, in British Columbia, has confirmed that the project can be developed into a small stand-alone operation. The PFS found that some 250 000 t/y of saleable coal can be produced over a 19-year mine... 

Diamonds fund Zimbabwe political oppression, Global Witness says

By: Bloomberg     11th September 2017 Zimbabwe’s government is using money earned from diamond exports to fund its Central Intelligence Organisation, blamed for a raft of human-rights abuses as it’s helped to keep President Robert Mugabe in power since 1980, Global Witness said. Diamonds dug from the Marange fields in eastern... 

Molopo Energy shareholder questions US oil and gas deal

By: Esmarie Swanepoel     11th September 2017 ASX-listed Keybridge Capital has launched legal action in the Supreme Court of Western Australia to gain access to information regarding Molopo Energy’s proposed acquisition of a US oil and gas project. Keybridge, which holds an 18.478% interest in Molopo, said on Monday that the company had... 

MacPhersons raises cash for exploration

By: Esmarie Swanepoel     11th September 2017 Metals developer MacPhersons Resources will raise up to A$4.4-million through a share placement and share purchase plan (SPP) to fund resource drilling at its Boorara gold project, in Western Australia. The company said on Monday that an initial A$2.93-million would be raised through a share... 

Middle Island secures further expansion options in WA

By: Esmarie Swanepoel     11th September 2017 Junior gold developer Middle Island Resources has unveiled a second expansion option for its Sandstone gold project, in Western Australia. The ASX-listed company has entered into an option deed over the Dandaraga gold project, some 16 km southeast of the existing Sandstone gold project and... 

Thalanga produces first base metal concentrate

By: Esmarie Swanepoel     11th September 2017 The Thalanga zinc project, in Queensland, has produced its first copper, lead and zinc concentrate, ahead of schedule and budget. ASX-listed Red River Resources MD Mel Palancian said on Monday that the start of production at Thalanga, ahead of schedule and under budget, was an outstanding... 

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