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Latest News

Sibanye CEO says seismic events a fact of life for South Africa mines

By: Reuters     7th June 2018 Earthquakes such as the one in which seven miners died last month in South Africa are impossible to predict and a fact of life for deep level operations there, the chief executive of the mine's owner Sibanye-Stillwater said on Thursday. Precious metals producer Sibanye has been the object of... 

Altus starts exploration at Côte d'Ivoire project

By: Creamer Media Reporter      7th June 2018 Aim- and TSX-V-listed Altus Strategies has started exploration at its 369.5 km2 Prikro gold project, in eastern Côte d'Ivoire. "Prikro is an exciting gold project located in an emerging gold province in eastern Côte d'Ivoire. The licence targets Birimian age metasedimentary belts that are... 

Jubilee sets another operational record

By: Anine Kilian     7th June 2018 Dual-listed Jubilee Platinum’s North West-based Hernic project achieved record production of 2 101 oz of platinum-group metals (PGMs) in May, a 12% increase on the previous record. The company has already produced 3 972 oz of PGMs in the second quarter, with a target of 6 000 oz for the full... 

Launch of Tanzanian mining commission to benefit Kibaran

By: Anine Kilian     7th June 2018 The Tanzanian Department of Minerals has formally launched the Mining Commission, which will be responsible for administering the minerals sector in that country. The commission has started a process of issuing some 7 000 mineral licences that had been pending after the Tanzanian government... 

Congo mining regulations to be signed into law on Friday – mines minister

By: Reuters     7th June 2018 Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday. The move could set off a legal battle between the... 

Rio Tinto inks exploration agreement with China's Minmetals

By: Reuters     7th June 2018 Global miner Rio Tinto inked a joint venture agreement with China Minmetals Corp on Thursday, as the companies look to explore mineral deposits in China. The 50:50 joint venture with State-owned Minmetals follows a technical agreement signed in November when both parties committed to a... 

Rio Tinto inks exploration agreement with China's Minmetals
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastien Jacques

Botswana Diamonds to buy BCL's stake in exploration project

By: Reuters     7th June 2018 Botswana Diamonds (BoD) wants to buy liquidated BCL Mine's shares in a diamonds exploration joint venture project, its managing director said on Thursday. BCL mine group, which has been under liquidation since 2016, is selling its 51% stake in Maibwe Diamonds for an undisclosed amount. 

World Diamond Council’s System of Warranties open for public review

By: Anine Kilian     7th June 2018 The World Diamond Council (WDC) System of Warranties (SoW) has entered a public review period following the completion of an industry review. The SoW review and reform process is part of the WDC’s strategic plan and is intended to help industry participants better implement and demonstrate their... 

Platinum price set for recovery this year – survey

By: Anine Kilian     7th June 2018 The platinum price is expected to exceed $1 000/oz in the second half of this year. “We expect the platinum price will start a recovery this year, albeit a gradual one. This is predicated on a small deficit this year, of nearly 300 000 oz, fuelled by a contraction in supply, chiefly from the... 

Platinum price set for recovery this year – survey

Russia's Polyus to decide on Sukhoi Log gold mine by 2020/21

By: Reuters     7th June 2018 Russian gold miner Polyus said on Thursday it planned to make a final investment decision on Sukhoi Log, one of the world's largest untapped gold deposits, by 2020/21, when it would also begin capital spending on construction. Should a positive investment decision be made, production would start... 

Russia's Polyus to decide on Sukhoi Log gold mine by 2020/21
Photo by Reuters
Polyus CEO Pavel Grachev

WGC sees an upturn in China's jewellery demand

By: Esmarie Swanepoel     7th June 2018 China’s jewellery market has turned a corner, which could result in an upturn in global gold demand and gold’s long-term performance, the World Gold Council (WGC) said on Thursday. China’s demand for gold jewellery more than tripled over the past 15 years, as the economy expanded and personal... 

Artisanal mining should be legalised – analyst  

By: Anine Kilian     7th June 2018 As industrial mining for gold declines, artisanal mining for gold in abandoned, ownerless and derelict mines will increase, making way for artisanal miners to mine abandoned shafts, says mining analyst David van Wyk. Addressing delegates during a mining seminar at Sustainability Week 2018, in... 

Oz declares Avanco offer unconditional

By: Esmarie Swanepoel     7th June 2018 Copper/gold miner Oz Minerals has declared its takeover offer for fellow listed Avanco Resources unconditional. Oz Minerals is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418-million. 

Land ceded by Zimplats to be used for Karo's $4.2bn project

By: Bloomberg     7th June 2018 A platinum-bearing mine concession ceded by a subsidiary of Impala Platinum will be used by Karo Resources to develop a $4.2-billion mining complex, Zimbabwe’s mines minister said. Impala, based in Johannesburg, on Wednesday said its Zimplats subsidiary had agreed to release 23 903 ha of land to... 

Eastplats files civil claims notices against former directors, other parties

By: Anine Kilian     7th June 2018 JSE-listed Eastern Platinum (Eastplats), together with Eastplats Acquisition and Eastern Platinum Holdings, has filed notices of civil claims related to two separate actions in the British Columbia Supreme Court. The first claim is brought against Serina Services and Ingwenya Incorporated in... 

Kimberley's illegal miners to get mining permits

By: African News Agency      7th June 2018 Hundreds of artisanal and illegal miners in Kimberley in the Northern Cape will on Thursday receive mining permits from the Department of Mineral Resources.  Deputy minister of mineral resources Godfrey Oliphant will hand over two mining permits to artisanal miners, also known as Zama Zamas, in... 

Matsa's Red Dog gets approved

By: Esmarie Swanepoel     7th June 2018 ASX-listed Matsa Resources has received mining approvals for its Red Dog gold project, in Western Australia. Matsa said on Thursday that all regulatory approvals had now been received for the project, allowing mining to start. 

Empire readies for court battle

By: Esmarie Swanepoel     7th June 2018 Junior gold miner Empire Resources is seeking legal assistance in its dealings with joint venture (JV) partner Brimstone Resources. Brimstone, which holds a 40% interest in the Penny’s Find project, has sought an injunction from the Supreme Court of Western Australia to prevent Empire from... 

GLNG ships milestone cargo

7th June 2018 The Gladstone liquefied natural gas (GLNG) project has shipped its 200th LNG cargo from Curtis Island to Korea. “For the next two decades, the International Energy Agency expects natural gas to grow more than any other energy type, to a market share of more than a quarter of all global energy... 

Myanmar completes A$35m capital raise

By: Esmarie Swanepoel     7th June 2018 ASX-listed Myanmar Metals has completed a A$35-million share placement. The company said on Thursday that the placement, priced at 6c a share, has been heavily oversubscribed, with significant demand from a wide range of new domestic and international institutional investors. 

WPG refocuses on cash

By: Esmarie Swanepoel     7th June 2018 Gold producer WPG Resources has told shareholders that the company was working on cash generation to reduce its debt and creditor balance over the next nine months. The company on Thursday said that discussions with potential third party funders were also advancing to refinance debt and pursue... 

Nifty to reach production targets by year end – Metals X

By: Esmarie Swanepoel     7th June 2018 Base metal miner Metals X on Thursday said that it remained on track to reach its strategic objective of increasing output at the Nifty copper mine, in Western Australia, to 40 000 t/y of copper in concentrate by the end of 2018, despite the delay in the timing of the production ramp-up at the... 

Resources, oil & gas sectors drive Australian GDP growth in Q1

By: Esmarie Swanepoel     7th June 2018 The resources and oil and gas sectors have continued to drive the Australian economy during the March quarter, with the Australian Bureau of Statistics (ABS) revealing that the sectors were the main drivers to a 1% increase in Australia’s gross domestic product (GDP) during the period. The... 

Resources, oil & gas sectors drive Australian GDP growth in Q1

Fortescue gains 19.9% stake in Atlas Iron

By: Esmarie Swanepoel     7th June 2018 Iron-ore major Fortescue Metals has taken a 19.9% shareholding in fellow-listed Atlas Iron, and has revealed that it would not support a proposed takeover of Atlas by Mineral Resources (MinRes). Fortescue on Thursday revealed that it had acquired a 15% shareholding in Atlas, at a price of 4c a... 

Qld refutes claims it will fund access road to Carmichael mine

By: Esmarie Swanepoel     7th June 2018 The Queensland government has denied reports that it is planning to fund up to A$100-million to build an access road for Adani’s Carmichael coal mine. “There are currently no proposals about roads and Adani being considered by the government,” Queensland Mines and Energy Minister Dr Anthony... 

Nautilus starts wet testing programme for new seafloor diamond drill rig

By: Simone Liedtke     7th June 2018 TSX-listed Nautilus Minerals has started wet testing of its new seafloor diamond drill rig, which it developed to relieve the drilling requirements of its future exploration programmes. The rig, nicknamed the “Hobbit” scout rig, has so far successfully met design targets in a series of land-based... 

LME says plans to launch about 15 new contracts in January 2019

By: Reuters     7th June 2018 The London Metal Exchange (LME) plans to launch around 15 new contracts from next January, including cash-settled cobalt and hot-rolled coil steel contracts, an executive said on Wednesday. "We will put in place the technical capabilities by November and then we'll launch them from January,"... 

Brazil presidential decree next week to overhaul mining rules – sources

By: Reuters     7th June 2018 Brazil's President Michel Temer plans to issue a decree next week to overhaul the rules for mining permits, bypassing Congress after it failed to approve similar changes last year, two people with direct knowledge of the matter told Reuters. The sources, who asked not to be named because the... 

Brazil presidential decree next week to overhaul mining rules – sources
Photo by Bloomberg
Brazil President Michel Temer

Key shareholder urges Canadian miner Nevsun to engage with suitors

By: Reuters     7th June 2018 Nevsun Resources, a Canadian miner which has been approached regarding a takeover, should enter "good-faith negotiations with any suitor," Adrian Day Asset Management, one of Nevsun's top ten shareholders, said in an open letter to the company's board on Wednesday. "We would urge the company to... 

Seven mineworkers missing after accident in northern Mexico

By: Reuters     7th June 2018 Rescuers were searching on Wednesday for seven workers who went missing in at a gold and silver mine in northern Mexico after a dam filled with liquid waste collapsed, authorities said. The accident occurred on Monday in the La Cieneguita mine operated by Minera Rio Tinto and Pan American... 

Battery metals industry dependent on ‘flavour of the month’

By: Simone Liedtke     6th June 2018 With nearly every forecast predicting higher battery use in the years ahead, especially lithium-ion batteries to power new and existing technologies, demand for its component metals may be dependent on what some title “the flavour of the month”. 

Battery metals industry dependent on ‘flavour of the month’
Photo by Dylan Slater
IDC senior project development manager Bertie Strydom

Seriti Resources interested in Optimum Coal as it looks to export

By: Reuters     6th June 2018 South African miner Seriti Resources wants to move into exporting coal and would be interested in buying the assets and quotas of the Gupta family's Optimum Coal, its CEO said. Bidding for Optimum Coal would pit Seriti, which has ambitions to become a black-owned mining champion, with bigger... 

Seriti Resources interested in Optimum Coal as it looks to export
Photo by Creamer Media
Seriti CEO Mike Teke

US, Japanese platinum jewellery demand to continue growing

By: Marleny Arnoldi     6th June 2018 With China’s strong economic growth in the first quarter of this year, jewellery demand in that country also increased, but platinum jewellery demand lagged behind other jewellery segments owing to a lack in innovative product and market-wide marketing support, says Platinum Guild International... 

US, Japanese platinum jewellery demand to continue growing

Kibo moves into the Mozambican market

By: Marleny Arnoldi     6th June 2018 Aim- and JSE-listed Kibo Mining has signed a joint venture (JV) agreement with Mozambican energy company Termoeléctrica de Benga to participate in the further assessment and potential development of the Benga independent power project, in Tete, Mozambique.  

Goldcorp signs IBA with three First Nation communities in Ontario

By: Marleny Arnoldi     6th June 2018 TSX-listed Goldcorp and three First Nation communities – Brunswick House, Chapleau Cree and Chapleau Ojibwe – have signed an impacts and benefits agreement (IBA) with respect to the development and operation of the Borden gold project, near Chapleau, in northern Ontario.  

Goldcorp signs IBA with three First Nation communities in Ontario

Regency Mines contributes $2m to own 47% of US met coal JV

By: Marleny Arnoldi     6th June 2018 Aim-listed hydrocarbons and base metals miner Regency Mines has deposited $2-million in escrow, pending completion of the joint venture (JV) funding with privately-owned mining company Legacy Hill, which will see Regency owning 47% of Mining Equity Trust (MET) – a new Delaware-incorporated... 

Gold market could put supply on blockchain as soon as next year

By: Bloomberg     6th June 2018 The gold market could start using the technology behind cryptocurrencies to track an almost-$200 billion supply chain as soon as next year. The London Bullion Market Association (LBMA) last week closed an invitation for submissions of ideas for how to track the metal as it’s dug out of remote... 

TFR’s MMC business unit to conduct national maintenance in June

By: Marleny Arnoldi     6th June 2018 Transnet Freight Rail’s (TFR’s) Mineral Mining and Chrome (MMC) business unit, which is responsible for yearly planned maintenance where major capital replacement activities are implemented, will hold its financial year shutdown from June 7 to 13.  

TFR’s MMC business unit to conduct national maintenance in June
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