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Latest News

Kibo, Edenville resubmit tender qualification documents to Tanesco

By: Tasneem Bulbulia     7th December 2018 Aim-listed companies Kibo Energy and Edenville Energy on Friday both announced that they had resubmitted their respective tender qualification documents to the Tanzania Electricity Supply Company (Tanesco). Kibo is developing the Mbeya coal-to-power project (MCPP) and Edenville the Rukwa... 

Bauba says High Court halts mining right grant to Samancor Chrome

By: Marleny Arnoldi     7th December 2018 JSE-listed Bauba Platinum on Friday informed its shareholders that the High Court, in Pretoria, had set aside the granting of a chrome-ore mining right to Samancor Chrome in respect of the farms Wintersveld, Jagdlust and Zeekoegat, owing to a lack of proper notice and consultation with interested... 

Condor Gold share price jumps on concession

By: Creamer Media Reporter      7th December 2018 Nicaragua’s Ministry of Energy and Mines has granted the explorer and developer Condor Gold the Las Cruces concession, expanding the La India project package by 45% to 455.6 km2. The La India project now comprises 11 adjacent and contiguous exploration and exploitation concessions, which Aim-... 

Eurasia to pay one-time licence fee for Monchetundra

By: Creamer Media Reporter      7th December 2018 Following the office award of the permit for the Monchetundra mine in Russia, Aim-listed Eurasia Mining said on Friday that it would have to pay a 20.84-million rouble licence fee. Twenty per cent of the total is due within 30 days of registration of the licence at the state register of suboil... 

Opec goes back into crunch talks as Russia resists big oil cut

By: Bloomberg     7th December 2018 The Organisation of Petroleum Exporting Countries (Opec) prepared for a further day of talks on oil-production curbs after a summit on Thursday ended with no deal, as Russia resisted the big output cut that Saudi Arabia was demanding. After a six-hour meeting in Vienna, Saudi Energy Minister... 

Bushveld apologises for Aim rules breaches, pays £490 000 fine 

By: Marleny Arnoldi     7th December 2018 The London Stock Exchange has determined a public censure of Aim-listed Bushveld Minerals and fined the company £700 000 relating to Aim rule breaches that occurred in April 2016. Bushveld settled the fine early and it was, therefore, discounted to £490 000.  

Maverix announces Northern Vertex silver stream deal

By: Creamer Media Reporter      7th December 2018 TSX-V-listed precious metals royalty and streaming company Maverix Metals has strike a deal to purchase 100% of the silver production from fellow-listed Northern Vertex’s 5 000 t/d Moss gold/silver mine, in Arizona. Maverix has the right to purchase 100% of the silver output until 3.5-million... 

Malaysian uncertainties complicate Aussie miner Lynas' growth plans

By: Reuters     7th December 2018 Uncertainties surrounding Australian rare earths miner Lynas Corporation's future in Malaysia have hampered efforts to plan expansion, its chief executive said. Amanda Lacaze said Lynas has been weighing options to grow its business, which would likely mean expanding beyond its current... 

A$300m zinc refinery expansion for Queensland

By: Esmarie Iannucci     7th December 2018 Korea’s Sun Metals has committed to a A$300-million expansion of its zinc refinery, in Queensland. Zinc production from the refinery will increase from about 220 000 t/y to 270 000 t/y, with the expansion likely to be completed by the first half of 2021. 

Milling control system improves Asanko’s throughput rate

By: Marleny Arnoldi     7th December 2018 Engineering group DRA Global has implemented an advanced milling control system, using the MillSlicer instrument, at the Asanko gold mine, on the Asankrangwa belt, in Ghana. Since the installation, Asanko has been able to deliver above its five-million-tonne-a-year design rate.  

Milling control system improves Asanko’s throughput rate
Asanko gold mine, in Ghana

Australia extends trade surplus on surging resources exports

By: Esmarie Iannucci     7th December 2018 Australia has reported a trade surplus of A$2.7-billion in October, an increase of A$182-million on the September surplus, driven by surging coal, iron-ore and liquefied natural gas (LNG) exports. “Australian Bureau of Statistics (ABS) figures show our trade surplus for the month of October was... 

Australia extends trade surplus on surging resources exports

Ascot given green light to explore in Washington state

By: Creamer Media Reporter      7th December 2018 The Bureau of Land Management (BML) has given its approval for TSX-V-listed Ascot Mining to conduct exploration work at its Mt Margaret property, near Randle, in Washington state. After years of environmental review, the Bureau of Land Management (BML) has given its approval for TSX-V-listed... 

Beadell gets loan from suitor Great Panther

By: Esmarie Iannucci     7th December 2018 Suitor Great Panther Silver has provided ASX-listed gold miner Beadell Resource with a $5-million loan, to fund general working capital requirements. Beadell on Friday told shareholders that the loan would have an interest rate of 14% a year in arrears, and has a term to January 15, 2019. 

Acacia divests Bowen Coking Coal interest

By: Esmarie Iannucci     7th December 2018 ASX-listed Acacia Coal has divested of its shareholding in fellow-listed Bowen Coking Coal at a price of 1.6c each. Acacia on Friday said that its more than 17.39-million shares had achieved a selling price of A$278 261, with the share sale adding to the company’s cash reserves from its recent... 

Explaurum reports 'frustrating' maiden Mace resource

By: Esmarie Iannucci     7th December 2018 Takeover target Explaurum has reported a maiden inferred mineral resource of 400 00 t, grading 1.4 g/t gold for 20 000 oz of contained gold at its Mace deposit, in Western Australia. MD John Lawton told shareholders on Friday that at a headline level, the initial mineral resource estimate had... 

Westgold raises more cash, divests lithium royalties

By: Esmarie Iannucci     7th December 2018 ASX-listed Westgold Resources has completed a share placement, raising A$23.4-million, while also announcing plans to divest of its non-core lithium royalties for A$15-million. The company on Friday reported the placement of 26-million fully paid ordinary shares, priced at 90c each, to... 

Mariana lithium brine JV to produce 10 000 t/y – study

By: Creamer Media Reporter      7th December 2018 The Mariana lithium brine joint venture (JV) project between China’s Ganfeng Lithium and Canadian junior International Lithium has the potential to produce 10 000 t/y of lithium carbonate equivalent (LCE) and 84 000 t/y of sulphate of potash (SOP), a preliminary economic assessment (PEA) has... 

Cora Gold raises £550 000 to fund more Mali drilling

By: Marleny Arnoldi     7th December 2018 Aim-listed Cora Gold has raised £549 245, or around $700 500, through a subscription to fund a drilling programme at its flagship Sanankoro gold prospect, in Mali. About 11-million new ordinary shares were placed at a price of 5p apiece. The shares will start trading around December 13.  

India approves bilateral agreement with Zimbabwe in mineral sector

By: Ajoy K Das     7th December 2018 The Indian government on Thursday accorded ex-post ratification of a bi-lateral agreement between India and Zimbabwe for collaboration in mining, geology and mineral resources. According to an official statement issued by India’s Union Cabinet, the decision approved the memorandum of... 

Mantashe discusses mining’s lower GDP contribution with industry stakeholders 

By: Marleny Arnoldi     7th December 2018 Mineral Resources Minister Gwede Mantashe says the department and industry stakeholders are paying greater attention to detail, given that the contribution of the mining sector to gross domestic product (GDP) does not reflect its potential. According to GDP data released by Statistics South... 

Nigerian govt launches bid for flare gas offtakers

By: Marleny Arnoldi     7th December 2018 The Nigerian government is inviting parties with an interest in accessing and securing competitively priced gas to participate in an open and competitive bid process. The government is implementing a Nigerian Gas Flare Commercialisation Programme (NGFCP) to make use of gas instead of it being... 

Nigerian govt launches bid for flare gas offtakers

Metallica/Melior merger a good fit - independent expert

By: Esmarie Iannucci     7th December 2018 An independent expert has determined that the merger between ASX-listed Metallica Minerals and TSXV-listed Melior Resources, would be reasonable for Metallica shareholders. The two companies in September struck a binding merger agreement to create a diversified Queensland mining company, which... 

Process that will ‘drastically’ cut the power needed to reprocess mining waste edging closer to commercialisation

By: Tracy Hancock     7th December 2018 Energy efficiency in the mining and minerals processing sector continues to be a hot topic, especially in South Africa, where increases in the cost of energy sources – namely electricity, diesel and coal – along with that of labour, exceed inflation.   

Process that will ‘drastically’ cut the power needed to  reprocess mining waste edging closer to commercialisation

Codelco agrees contract with Gabriela Mistral mine workers

By: Reuters     7th December 2018 Chile's state copper miner Codelco said on Thursday it had reached agreement on a new collective labor contract in early negotiations with the union of workers at its Gabriela Mistral mine in northern Chile. The 36-month contract included a signing bonus of 4.2-million pesos and a 2-million peso... 

EU's largest coking coal producer seeks growth through acquisitions

By: Reuters     7th December 2018 The European Union's largest coking coal producer JSW could increase output by between 2.5- and 3-million tonnes per year by acquiring assets, far exceeding its current plan to grow production to 18-million tonnes by 2030 from roughly 15-million now. Poland's ambitions to invest in coal have... 

EU's largest coking coal producer seeks growth through acquisitions

Barrick Gold to sell assets, reduce head-office management - WSJ

By: Reuters     6th December 2018 Barrick Gold Corp will sell a research and development company it owns and reduce its technology staff, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The gold miner expects to close its Randgold Resources purchase January 1, and incoming CEO Mark Bristow... 

Venezuela signs oil, gold investment deals with Russia -Maduro

By: Reuters     6th December 2018 Venezuela has signed deals securing investment from Russia in the South American country's oil and gold sectors, President Nicolas Maduro said on Thursday at the end of a three-day trip to Moscow. "We have signed contracts to guarantee investments of more than $5-billion with our Russian... 

'Treasonous' tweets won't help Eskom out of current 'crisis' 

By: Terence Creamer     6th December 2018 Public Enterprises Minister Pravin Gordhan reported that a Cabinet task team would be appointed by President Cyril Ramaphosa soon to finalise a road map for turning around the debt-laden utility, which he acknowledged was in the midst of an operational “crisis”. The “small” task team would work... 

'Treasonous' tweets won't help Eskom out of current 'crisis'
Photo by Dylan Slater
Public Enterprises Minister Pravin Gordhan

India working on policy for FSRU LNG terminals at all major ports

By: Ajoy K Das     6th December 2018 The Indian government will frame a policy to facilitate the construction of floating storage and regasification unit (FSRU) liquefied natural gas (LNG) terminals at every major port in the country. The policy will lay down investment structure options for private investors so that there is a... 

Uncertainty about maximum permissible area undermining Odisha mineral auction plans

By: Ajoy K Das     6th December 2018 Uncertainty over the maximum permissible area that can be granted for mining is undermining plans to hold fresh rounds of mineral block auctions in the eastern Indian state of Odisha. The Odisha government is currently working to complete rounds of auction to allocate 16 mineral blocks in the... 

Vale says recent dip in global steel prices is temporary

By: Reuters     6th December 2018 Brazil's Vale, the world's largest iron ore miner, said on Thursday a recent dip in global steel prices is temporary due to overproduction in China ahead of winter output cuts. Vale CEO Fabio Schvartsman told investors in London that global capacity utilisation in the steel sector has risen to... 

Newmont provides updated 2019 forecast

By: Mariaan Webb     6th December 2018 Newmont Mining expects to produce 5.2-million ounces of gold in 2019, and 4.9-million ounces in 2020, the US-based miner reported on Thursday. The updated guidance is at the midpoint of its previous range of 4.9-million ounces to 5.4-million ounces for 2019. 

Newmont provides updated 2019 forecast

Gamsberg to trigger new wave of industrial development in Northern Cape 

By: Simone Liedtke     6th December 2018 In the lead-up to achieving its production target of 600 000 t/y, diversified miner Vedanta's Northern Cape-based Gamsberg zinc mine is ready to launch Phase 1. After having been in development for three years by Vedanta's Zinc International division, the $400-million Gamsberg development forms... 

 Gamsberg to trigger new wave of industrial development in Northern Cape

Gold-backed ETFs up on stock volatility in November

By: Reuters     6th December 2018 Gold-backed exchange-traded funds (ETFs) registered inflows in all the world's major regions in November, as volatile stock markets fueled flight-to-safety buying, the World Gold Council said on Thursday. North American funds had inflows of $352.7-million while European funds posted inflows of... 

Iamgold to start 3 000 m drilling programme at Senegal project

By: Marleny Arnoldi     6th December 2018 Iamgold Corporation will start a 3 000 m reverse circulation drilling programme targeting three main zones at the Dalafin gold project, in Senegal, in which Aim-listed Oriole Resources, formerly Stratex International, holds an 85% interest. Iamgold has the option to spend $8-million in... 

Resources Watch  

6th December 2018 Gold One launches R100m plant expansion project; Overly prescriptive policies threaten mine profitability; and, Zest WEG Group delivers R200m electrical infrastructure solution at Petra’s Cullinan diamond mine 

Resources Watch
Resources Watch

Ferrexpo shareholders rewarded with special dividend

By: Creamer Media Reporter      6th December 2018 London-listed Ferrexpo has rewarded its shareholders with a special interim dividend of 6.6c a share, as premiums for high-quality iron-ore pellets remain high. The company has generated sufficient cash to reduce its debt and to fund its capital expenditure requirements, it said on Thursday,... 

Pioneering nickel sulphate venture draws down on loan 

By: Martin Creamer     6th December 2018 Black-controlled Thakadu Battery Materials, a pioneering South African high-purity battery-grade nickel sulphate developer, has made its first drawdown from South Africa’s State-owned Industrial Development Corporation (IDC) under a R152-million loan facility agreement. The IDC loan is funding... 

Pioneering nickel sulphate venture draws down on loan
Thakadu Battery Materials CEO Ruli Diseko
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