http://www.miningweekly.com
R/€ = 15.87 Change: -0.27
R/$ = 13.66 Change: -0.22
Au 1278.54 $/oz Change: -21.47
Pt 884.00 $/oz Change: -20.07
 

Latest News

Europe, Asia drove ETF holdings higher in May – WGC

By: Marleny Arnoldi     6th June 2018 Global gold-backed exchange-traded fund (ETF) holdings added 15 t to 2 484 t in May, the World Gold Council (WGC) reported on Wednesday.  

Plan for mining community development levy scrapped

By: Bloomberg     6th June 2018 South Africa’s government has scrapped plans to compel mining companies to contribute 1% of their annual turnover to a new community development agency because it feared the funds could be abused, the nation’s mining minister said. The levy was proposed in a draft of the nation’s new Mining... 

European Metals starts beneficiation of Cinovec bulk sample

By: Anine Kilian     6th June 2018 Aim-listed European Metals has started the beneficiation process and magnetic separation of a 15 t bulk sample at its Cinovec lithium/tin project, in the Czech Republic. The beneficiation and magnetic separation of a lithium-rich concentrate will provide pilot plant feed for planned downstream... 

Metal Tiger to acquire 50% of Kalahari Metals

By: Marleny Arnoldi     6th June 2018 Aim-listed resources investor Metal Tiger has signed a binding investment agreement to acquire up to 50% of Botswana-focused explorer Kalahari Metals (KML) for $1.6-million.  

Metal Tiger to acquire 50% of Kalahari Metals

Congo mining revenues triple in Q1; oil revenues down 11%

By: Reuters     6th June 2018 Democratic Republic of Congo's (DRC's) revenues from its mining sector tripled year-on-year in the first quarter of 2018 to $397.86-million, finance ministry data showed. Revenues from the oil and gas sector dropped 10.87 percent year-on-year in the first quarter to $29.45-million, according to... 

Angola to change diamond sector to attract investment – Lourenço

By: Reuters     6th June 2018 Angola will make changes to how its secretive diamond industry works in order to attract more investment, increase production and secure higher government revenue, President João Lourenço said on a visit to Antwerp, Belgium. Africa's second-largest crude producer is trying to open up and... 

Current mining ‘boom’ very different to last one – CRU

By: Martin Creamer     6th June 2018 A return of capital expenditure (capex) and inorganic sources of growth are seen as a key corporate priority for 2018 and beyond, CRU Group senior consultant Aleksander Popovic said on Wednesday. The provider of marketing intelligence to mining told the Junior Indaba that the company’s... 

Current mining ‘boom’ very different to last one – CRU
Photo by Dylan Slater
CRU Group senior consultant Aleksander Popovic

Berkeley Energia lists on LSE

By: Anine Kilian     6th June 2018 Uranium miner Berkeley Energia officially listed on the LSE on Wednesday. The company also received confirmation from Spanish authorities that its shares will be admitted to trading on the Spanish Stock Exchange (SSE) soon. 

Iamgold reports 39% reserve, 16% output rise at Burkina Faso project

By: Marleny Arnoldi     6th June 2018 TSX- and New York-listed gold producer IAMGOLD has announced positive results from a prefeasibility study (PFS) for its Essakane heap leach project, in Burkina Faso.  

Iamgold reports 39% reserve, 16% output rise at Burkina Faso project
IAMGOLD's Essakane gold mine in Burkina Faso

Velocity appoints consultancy to undertake Rozino PEA

By: Marleny Arnoldi     6th June 2018 TSX-listed gold miner Velocity Minerals has appointed consultancy CSA Global Canada Geoscience to complete a preliminary economic assessment (PEA) and a National Instrument (NI) 43-101-compliant mineral resource estimate for the Rozino gold project, in south-east Bulgaria.  

Botswana Diamonds awarded Mooikloof prospect

By: Marleny Arnoldi     6th June 2018 Aim-listed Botswana Diamonds has been awarded a prospecting licence for the 2.5 ha Mooikloof diamondiferous kimberlite pipe concession, in Limpopo, South Africa.  

Botswana Diamonds awarded Mooikloof prospect
Botswana Diamonds CEO John Teeling

Trilogy reports maiden cobalt resource estimate for Alaska project

By: Anine Kilian     6th June 2018 Alaska-focused mineral explorer Trilogy Metals on Monday reported a maiden 77-million-pound cobalt resource for its Bornite project. The resource estimate used assay data from drill holes completed by the company between 2011 and 2013 and re-sampled historic holes drilled in the 1960s and 1970s. 

Harmony Gold raises R1.05bn to help settle Moab Khotsong loan

By: Marleny Arnoldi     6th June 2018 Gold miner Harmony Gold has raised R1.05-billion, or $82-million, through the placing of 55-million new ordinary shares with existing and new institutional investors at a price of R19.12 apiece.  

Harmony Gold raises R1.05bn to help settle Moab Khotsong loan
Moab Khotsong

Nevsun starts exploration decline construction at Serbia copper project

By: Marleny Arnoldi     6th June 2018 TSX-listed Nevsun Resources has started construction of the exploration decline at its Timok Upper Zone copper project in Bor, Serbia.  

Zimplats tenement splits in two after government deal

By: Esmarie Swanepoel     6th June 2018 Platinum miner Impala Platinum (Implats), through its Zimbabwean subsidiary Zimplats, has agreed to release 23 903 ha of its mining leases to the Zimbabwean government, effectively splitting its tenement in two. The Zimbabwean government previously expressed its intention to compulsorily acquire... 

Argonaut awaits imminent court scheduling over suspension of Mexico mine’s explosives permit

By: Marleny Arnoldi     6th June 2018 TSX-listed gold producer Argonaut Gold on Tuesday reported that the Judiciary Court hearing with respect to the company’s explosives permit for its La Colorada mine, in Sonora, Mexico, has been postponed and is awaiting imminent court scheduling.  

Argonaut awaits imminent court scheduling over suspension of Mexico mine’s explosives permit

GoviEx closes C$6m private placement

By: Marleny Arnoldi     6th June 2018 TSX-listed uranium miner GoviEx has closed a private placement of 35.6-million shares at a price of C$0.17 apiece, with each unit comprising one Class A common share and one Class A common share purchase warrant, for gross proceeds of C$6-million.  

Lion One secures funding for gold project

By: Esmarie Swanepoel     6th June 2018 he Tuvatu gold project, in Fiji, is poised for development after project developer Lion One Metals secured a $40-million finance facility with Sinosteel Equipment & Engineering and mining and smelting group Baiyin. Lion One will engage Sinosteel as the project engineering, procurement and... 

Orinoco to restart gold production

By: Esmarie Swanepoel     6th June 2018 Brazilian gold miner Orinoco Gold is expected to resume gold production from its Cascavel project by next week, after a nation-wide truck strike ended. The company in May switched off all milling and processing facilities as the strike continued unabated, warning at the time that mining... 

Thiess wins contract extension at Curragh

By: Esmarie Swanepoel     6th June 2018 The mining services division of ASX-listed Cimic, Thiess, has been awarded a A$160-million contract extension at the Curragh coal mine, in Queensland. Under the terms of the contract, Thiess will mine some 45-million cubic meters of waste and coal at Curragh’s North Pit, until June 2019. 

Trevali intersects high-grade zinc mineralisation 240 m below Perkoa mine

By: Anine Kilian     6th June 2018 Zinc-focused base metals company Trevali has reported that recent drilling at its Perkoa mine, in Burkina Faso, confirms mineralisation remains open at depth, after drilling 240 m below the current modelled mining level. The company said in a drilling exploration update on Wednesday that, since... 

Global plans small operation in US

By: Esmarie Swanepoel     6th June 2018 Lithium-boron developer Global Geoscience has unveiled the development plans for the Rhyolite Ridge project, in Nevada, targeting a shorter permitting process. The company told shareholders that the site layout for the Rhyolite Ridge project has been designed with a total surface disturbance... 

Ramelius adds ounces at Edna May

By: Esmarie Swanepoel     6th June 2018 Junior gold miner Ramelius Resources has reported a 12% increase in the mineral resource at its Edna May operation, in Western Australia. The project is now estimated to host a mineral resource of some 794 000 oz, including a high-grade resource of 77 000 oz, grading at 6.7 g/t gold. 

Neometals finds land for lithium refinery

By: Esmarie Swanepoel     6th June 2018 ASX-listed Neometals has signed a two-year option to sub-lease a site for its proposed lithium hydroxide refinery. The company on Wednesday told shareholders that it had signed an option agreement with the City of Kalgoorlie-Boulder over a 40 ha site in a new industrial estate. 

Bald Hill reserves double - Tawana

By: Esmarie Swanepoel     6th June 2018 Reserves at the Bald Hill lithium/tantalum project, in Western Australia, has more than doubled following pit design changes that resulted from an increased resource estimate. ASX-listed Tawana Resources and its joint venture partner Alliance Minerals on Wednesday reported that total lithium... 

Millennium secures finance for Nullagine expansion

By: Esmarie Swanepoel     6th June 2018 Gold miner Millennium Minerals has secured a A$17.5-million working facility from Investec Australia to fund the expansion of its Nullagine project, in Western Australia. In addition to the A$17.5-million revolving loan facility, Millennium also agreed to an additional risk management facility... 

Frydenberg approves Tasmania iron-ore mine’s development

By: Esmarie Swanepoel     6th June 2018 Federal Environment and Energy Minister Josh Frydenberg has approved the Rogetta iron-ore mine, in Tasmania, for development. The project, which is being developed by unlisted Forward Mining, will comprise an opencut operation producing at a rate of one-million tonnes a year over a proposed... 

Frydenberg approves Tasmania iron-ore mine’s development

Chile's SQM hires former chairperson Ponce as adviser, government says

By: Reuters     6th June 2018 Chilean lithium miner SQM has retained former chairperson Julio Ponce as an adviser, according to Chilean state development agency Corfo, despite an agreement to distance himself from the firm to end a long-running royalties dispute. Ponce and his brother Eugenio, a former president of the... 

BHP is said to get shale bids valuing unit at up to $9bn

By: Bloomberg     6th June 2018 BHP Billiton has received first-round bids for its US shale portfolio from oil majors including BP and Chevron, valuing the unit at $7-billion to $9-billion, people familiar with the matter said. Royal Dutch Shell, partnering with private equity firm Blackstone Group, also submitted a bid for the... 

BHP is said to get shale bids valuing unit at up to $9bn

Multistakeholder initiative launched to address sustainable mine closure challenges

By: Nadine James     5th June 2018 Private and public sector entities officially launched a sustainable mine closure collaborative platform, called the Mine Water Coordinating Body (MWCB), at the Nedbank-New Partnership for Africa’s Development (Nepad) Business Foundation Networking Forum, hosted in Sandton, on Tuesday. The MWCB... 

LME says looking at expanding eligibility for Rusal metal

By: Reuters     5th June 2018 The London Metal Exchange (LME) is working to see if it can expand access to Rusal's aluminium, which is under suspension due to US sanctions, but the exchange needs to be cautious, Chief Executive Matthew Chamberlain said on Tuesday. "We are working very closely with all the parties involved to... 

Rwanda says mineral export earnings rose to $373m last year

By: Reuters     5th June 2018 Earnings from Rwanda's mineral exports more than doubled to $373-million last year from the previous 12 months, supported by a rebound in global prices of commodities, a top official said. After meeting sector players in the capital Kigali on Tuesday, Francis Gatare, chief executive at Rwanda... 

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas 

By: Martin Creamer     5th June 2018 The government is partnering the State-owed Industrial Development Corporation (IDC) to establish a junior miners’ fund that will provide exploration investment capital to black-owned emerging miners; it is also investing R20-billion in the Council for Geoscience to boost exploration as well as... 

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas
Mineral Resources Deputy Minister Godfrey Oliphant announces junior funding at Junior Indaba, covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

South Africa’s commodity sector continues to suffer, despite favourable market conditions

By: Simone Liedtke     5th June 2018 While favourable market conditions, higher commodity prices and strong internal discipline will produce increased liquidity and balance sheet strength for miners this year, advisory firm PwC Africa energy, utilities and resources leader Michal Kotzé believes South Africa’s commodity sector will... 

Rusal's May aluminium exports up threefold – Interfax 

By: Reuters     5th June 2018 United Company Rusal, the world's second biggest aluminium producer, in May increased aluminium exports to 197 000 tonnes, up almost threefold from April, Interfax news agency reported. Citing Russian Railways data, Interfax said January-May aluminium exports totalled 972 000 tonnes, down 16% on... 

Murray Energy swaps debt on heels of Trump plan to boost coal

By: Bloomberg     5th June 2018 Murray Energy Corp, the coal miner led by Robert E Murray, said some of its debt holders agreed to refinance a chunk of the company’s bonds and loans as the Trump administration makes a new push to buoy the struggling fossil fuel industry. The deal cuts debt and gives Murray Energy more time to... 

Murray Energy swaps debt on heels of Trump plan to boost coal

DPE probes Gupta-linked Alexkor for environmental law compliance

By: News24Wire      5th June 2018 The Department of Public Enterprises is investigating whether state-owned mining company Alexkor, which had links with the infamous Gupta family, complies with environmental legislation. This has emerged in Minister of Public Enterprises Pravin Gordhan's answer to a parliamentary question by DA... 

Premier African secures $300 000 loan

By: Marleny Arnoldi     5th June 2018 Aim-listed Premier African Minerals (Pam) has entered into a loan agreement with a company, owned by a trust of which its CEO George Roach is a beneficiary, for a gross value of $300 000. The loan will provide additional general working capital, while the company looks to bring finality to the... 

More Latest News

more

Latest Videos

more

Topics In These Articles

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