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Latest News

Glencore-Canada venture hitched to low-carbon economy shift

By: Martin Creamer     5th December 2017 The joint venture partnership Glencore struck with a Canadian pension plan on Tuesday provides exposure to commodities that benefit from a low-carbon economy. BaseCore Metals, a 50:50 partnership centred on base metals streams and royalties, involves Glencore Canada Corporation contributing a... 

BlueRock surpasses monthly production target in Nov

By: Anine Kilian     5th December 2017 Aim-listed BlueRock Diamonds’ Kareevlei mine, in South Africa’s Northern Cape, surpassed its monthly target production of 25 000 t in November. Production increased by 56% month-on-month to 25 146 t. 

Russian Jan to Aug gold output at 193.58 t

By: Reuters     5th December 2017 Russia produced 193.58 t of gold in the first eight months of 2017, up from 179.73 t in the same period last year, the Finance Ministry said in a statement on Tuesday. Production for the period included 158.13 t of mined gold compared with 147.64 t a year ago. 

Rainbow ships first rare earths from Burundi mine

By: Anine Kilian     5th December 2017 LSE-listed exploration and development company Rainbow Rare Earths has exported its first shipment of rare earth concentrate from its Gakara project, in Burundi, making it Africa’s only rare earths producer. Gakara is one of the highest-grade rare earth element mining projects globally, with an... 

Diamond miner Alrosa refinances loan

By: Mariaan Webb     5th December 2017 Russian miner Alrosra has reduced its debt to $1.48-billion, following an early repayment of $120-million on its $720-million bank loan due in 2019. The diamond mining group has refinanced the balance of $600-million through two new loans of $350-million and $250-million issued by Raiffeisenbank... 

Record monthly output at Tembang

By: Creamer Media Reporter      5th December 2017 ASX-listed Sumatra Copper and Gold on Tuesday reported record monthly production from its Tembang gold/silver operation in Sumatra, Indonesia. Gold production for the month of November totalled 3 650 oz gold equivalent and is forecast to increase to 4 0000 oz gold equivalent in December. In 2018,... 

Kibaran to build battery-grade graphite producing pilot plant

By: Mia Breytenbach     5th December 2017 Following the successful completion of a feasibility study on downstream processing of graphite from its Epanko graphite project in Tanzania, ASX-listed Kibaran Resources will establish a pilot plant in Germany that will be expanded to commercial scale for the supply of  premium battery graphite... 

Allegiance takes full ownership of Canada’s Telkwa coal project

By: Mia Breytenbach     5th December 2017 ASX-listed Allegiance Coal has entered into an unconditional agreement with TSX-listed Altius Minerals to take full ownership of the Telkwa metallurgical coal project, in Canada, while the diversified royalty company will become a more significant shareholder in the miner. The company can now... 

Tanga to acquire Namibia zinc project, raises A$1.16m in placement

By: Mia Breytenbach     5th December 2017 ASX-listed Tanga Resources announced on Tuesday that it would acquire the high-grade Joumbira zinc project in Namibia and that it would raise A$1.16-million to fund the transaction and to start planned work programmes. The company entered into a binding option agreement to acquire 100% of the... 

44 projects selected in latest round of WA’s exploration programme

By: Creamer Media Reporter      5th December 2017 Western Australian Mines and Petroleum Minister Bill Johnston on Tuesday announced the 44 successful projects that would benefit from the state government's Exploration Incentive Scheme (EIS) cofounded drilling programme. The successful Round 16 applicants include lithium, gold, copper, base... 

Indonesia plans to acquire Rio Tinto interest in Freeport Indonesia mine

By: Reuters     5th December 2017 Indonesia plans to acquire Rio Tinto's 40% participating stake in the Grasberg copper mine operated by the local division of Freeport-McMoRan, part of government plans to control more of the country's resources. Under a joint venture formed in 1996, Rio has a 40% interest in Freeport's Grasberg... 

Newcrest agrees lower power tariff for Cadia, eyes renewable supply as long-term solution

By: Creamer Media Reporter      5th December 2017 Gold miner Newcrest has negotiated a lower electricity tariff for its Cadia operation, in New South Wales, which will assist in bringing down the New South Wales-based mine’s all-in sustaining costs to the lower-end of its $255-million to $295-million guidance range for the 2018 financial year.... 

South32 says Illawarra output to fall to 4.5Mt in FY18

By: Mariaan Webb     5th December 2017 Diversified miner South32 has given a production guidance for its Illawarra metallurgical coal operation, where the Appin colliery was suspended for about four months this year owing to concerns about a potential gas breach. The New South Wales-based Illawarra operation, which comprises the Appin... 

South32 says Illawarra output to fall to 4.5Mt in FY18

Govt directs CIL to improve productivity as wage bill swells

By: Ajoy K Das     5th December 2017 With Coal India Limited (CIL) missing production target in the April to November period, the Coal Ministry has reiterated that the miner will have to “focus on productivity and production growth” as the recent increase in wage bill could not be allowed to impact on the profitability of the... 

India likely to tweak iron ore fines grades to lower incidence of export tax

By: Ajoy K Das     5th December 2017 The Indian government is considering more gradations in iron-ore fines, based on ferrous content that will offer partial relief from incidence of export tax. The Mines Ministry has constituted a committee to review the existing export duty structure on iron-ore fines and to reconcile conflicting... 

B2Gold achieves commercial production at Fekola, ups mine guidance

By: Henry Lazenby     5th December 2017 Canadian gold producer B2Gold has declared commercial production at its Fekola mine, in Mali, last Thursday, achieving the feat four months ahead of the original schedule, and one month ahead of the revised schedule. Vancouver-based B2Gold advised that Fekola remains ahead of schedule, with gold... 

Nemaska delivers first lithium hydroxide made from own Whabouchi spodumene

By: Henry Lazenby     5th December 2017 The TSX-listed stock of lithium development company Nemaska Lithium jumped to a new 52-week high of C$2.24 apiece on Monday, after the company confirmed that it had delivered 1.5 t of lithium hydroxide produced from its Wabouchi spodumene mine, in Quebec. "This is the first time a new entrant to... 

Cleveland-Cliffs launches two debt offerings to fund first hot briquetted iron plant

By: Henry Lazenby     5th December 2017 US iron-ore producer Cleveland-Cliffs has launched two debt offerings totalling $716-million to help fund its first hot briquetted iron (HBI) production plant – a $700-million expansion to Cliffs’ production capabilities targeting the electric arc furnace steel market. Based in Cleveland, Ohio,... 

One of world's largest diamonds fetches $6.5m to aid Sierra Leone

By: Reuters     5th December 2017 One of the world's largest diamonds was sold for $6.5-million by Sierra Leone on Monday to fund local development projects, dealing a blow to smugglers in the West African nation. The egg-sized, 709-ct diamond found by a Christian pastor was bought at auction in New York by Laurence Graff, a... 

Santander keeps on giving as Trevali traces mineralisation at depth

By: Henry Lazenby     5th December 2017 Zinc miner Trevali Mining has published encouraging results from its 2017 exploration programme, where directional diamond drilling continues to intersect multiple zones of high-grade zinc mineralisation within and below the Santander Pipe target, at its Santander zinc mine, in Peru. Highlights... 

Nevsun expands strongly mineralised trend at Timok

By: Henry Lazenby     5th December 2017 Ongoing exploration drilling on the Lower Zone at Canadian base metals miner Nevsun Resources’ Timok copper/gold project, in Serbia, has expanded the footprint by about 350 m by 750 m and continues to confirm the high grade, continuity and thickness of the mineralisation, the company announced on... 

Trump to shrink Utah monuments holding artifacts, minerals

By: Bloomberg     5th December 2017 President Donald Trump said Monday that he’ll shrink two national monuments in Utah that contain stunning red-sandstone vistas, historic relics and energy resources, arguing his predecessor overstepped in protecting the land. Trump travelled to Salt Lake City for the announcement, and also met... 

Chile cenbank maintains growth forecast for 2018

By: Reuters     4th December 2017 Chile's central bank held its 2018 economic growth forecast of 2.5% to 3.5% on Monday, while revising downward slightly its forecast for inflation and leaving open the possibility for lowering interest rates.In its end-of-year IPoM economic report, the bank also predicted 2017 gross domestic... 

Uranium companies jump on another round of Kazatomprom production cuts

By: Henry Lazenby     4th December 2017 An announcement Monday by the world’s largest uranium producer, the National Atomic Company of the Republic of Kazakhstan (Kazatomprom), that it would curtail another 20% of output for three years, starting from January, sent most TSX-listed uranium companies’ equities soaring. The national miner... 

Uranium companies jump on another round of Kazatomprom production cuts

Vale to use cash flow to pay dividends, reduce debt – CEO

By: Reuters     4th December 2017 Brazil's Vale, the world's top iron-ore producer, will use cash flow, which could reach $14-billion or $15-billion this year, to cut debt and pay dividends, CEO Fabio Schvartsman said on Monday. Speaking at an event in Rio de Janeiro, Schvartsman said the miner tended to generate $14-billion or... 

De Beers spearheading diamond traceability digital platform service

By: Anine Kilian     4th December 2017 Diamond giant De Beers is investing in a new digital platform service that provides a single, immutable record tracing a diamond’s individual journey through the value chain. This diamond traceability platform is underpinned by blockchain technology, which allows for a highly secure digital... 

SMB plans Guinea alumina refinery by 2022

By: Reuters     4th December 2017 A consortium of the Societe Miniere de Boke (SMB) and Singapore's Winning Shipping plans to build Guinea's first alumina refinery in a $3 billion effort to develop the West African country's bauxite industry, it said on Monday. Guinea has about a third of the world's bauxite reserves and expects... 

Red Metals, MMG Exploration ink joint venture agreement

By: Samantha Herbst     4th December 2017 ASX-listed minerals exploration company Red Metal has signed an option and joint venture (JV) agreement with MMG Exploration – a subsidiary of midtier global resources company MMG Limited – to advance the prospective Mallapunyah zinc project in the McArthur basin, in Australia’s Northern... 

Change or lose another 100 000 mining jobs – Cutifani

By: Martin Creamer     4th December 2017 Without change, the South African mining industry would lose another 100 000 jobs, said Anglo American CEO Mark Cutifani, who six years ago accurately predicted the recent 100 000 job demise in South African mining. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” the... 

Change or lose another 100 000 mining jobs – Cutifani
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Syrah signs sales agreement with China-based battery manufacturer

By: Samantha Herbst     4th December 2017 ASX-listed graphite developer Syrah Resources has signed a binding sales agreement with China-based Zhanjiang Juxin New Energy materials for 20 000 t of natural graphite from Syrah’s Mozambique-based Balama operation, in 2018. “This contract represents another significant import of Balama... 

First doré gold poured at Polyus’ Natalka

By: Mariaan Webb     4th December 2017 Russian gold major Polyus has poured its first doré gold at the Natalka project as part of the hot commissioning process of the 10-million-tonne-a-year mill at the greenfield project in the Magadan region. The Natalka mill is expected to be fully ramped up by the end of next year, delivering... 

Iron-ore enters bull market as China's curbs supercharge steel

By: Bloomberg     4th December 2017 Iron-ore has rallied back into a bull market. Prices are surging as China’s crackdown on steel output this winter runs down inventories, helping mills’ profitability and stoking demand for high-grade ore even as investors discount signs of ample supply. Spot ore with 62% iron content jumped 3.7%... 

Alba aims to reopen Welsh gold mine

By: Mariaan Webb     4th December 2017 Aim-listed Alba Minerals has acquired a 49% interest in the Clogau gold mine, in Wales, which the company aims to bring back into production. The Clogau gold project, which comprises the mine and a number of gold targets over a 106.94 km2 area, is situated in the Dolgellau gold belt, which has... 

Atalaya board approves €80.4m expansion in Spain

By: Mariaan Webb     4th December 2017 European mining and development company Atalaya Mining on Monday announced its decision to proceed with the 15-million-tonne-a-year expansion of its Proyecto Riotinto mine, in Spain. The €80.4-million expansion would upgrade processing facilities, including the installation of a new primary... 

Atalaya board approves €80.4m expansion in Spain

Galileo starts 1 750 m drilling programme at Zambia zinc project

By: Creamer Media Reporter      4th December 2017 As part of plans to fast-track exploration at its 51%-owned Star Zinc project, in Zambia, Aim-listed Galileo Resources will this week embark on a 1 750 m drilling programme. The programme is aimed at both resource confirmation and resource expansion. 

Nersa shifts Eskom tariff decision to December 13

By: Terence Creamer     4th December 2017 The National Energy Regulator of South Africa (Nersa) confirmed on Monday that it would announce its decision on Eskom’s 2018/19 revenue application on December 13, instead of the December 7 date initially set for the determination. “The date has been changed due to more time being required to... 

Nersa shifts Eskom tariff decision to December 13

GBM scoping study shows economic viability of Mt Coolon project

By: Dylan Slater     4th December 2017 A recent scoping study conducted by junior GBM Resources for its Mt Coolon gold project has indicated that it may be economically viable to redevelop the project, which shows the potential to generate strong positive cash flow 

Fortescue appeals Aboriginal land rights case

By: Creamer Media Reporter      4th December 2017 Iron-ore miner Fortescue Metals has lodged an appeal against a Federal Court ruling in favour of an indigenous Aboriginal group’s claims over land that it uses to mine in the Pilbara. Fortescue CEO Nev Power said on Monday that the group welcomed the recognition of the Yindjibarndi native title,... 

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