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Latest News

Eureka gold mine to restart production in H1 2019

By: Simone Liedtke     7th September 2018 Aim-listed Vast Resources hopes to restart production at the Zimbabwe-based Eureka gold mine, in which the company’s 25%-owned Dallaglio Investments holds a 95% interest, in the first half of 2019. Multiple work programmes are currently being undertaken at Eureka to restore the mine to... 

Unprotected strike halts production at Vametco vanadium mine

By: Tasneem Bulbulia     7th September 2018 Production has been temporarily stopped at the Vametco vanadium mine, near Brits, in the North West, owing to unprotected industrial action, Aim-listed Bushveld Minerals reported on Friday. The industrial action, which started on September 5, is in relation to historic legacy issues and... 

Giant diamonds has been mining's one success story this year

By: Bloomberg     7th September 2018 This summer’s crash in commodity prices is turning it into a year to forget for miners. Unless you dig the world’s biggest diamonds. Gem Diamonds has been the standout performer in the FTSE All-Share Mining Index, gaining almost 70% this year. In comparison, almost every other miner is in... 

ARM mulling ‘very exciting’ growth opportunities – Motsepe

By: Martin Creamer     7th September 2018 Diversified mining company African Rainbow Minerals (ARM) is right now looking at some very exciting growth opportunities, its executive chairperson Patrice Motsepe said on Friday. After announcing the delivery of 51% higher headline earnings of R4 814-million in the 12 months to June 30... 

ARM mulling ‘very exciting’ growth opportunities – Motsepe
Photo by Creamer Media Chief Photographer Dylan Slater
African Rainbow Minerals executive chairperson Patrice Motsepe (right) with Mining Weekly Online's Martin Creamer at Friday's presentation of results

ABB equipment set for Kittilä gold mine in Finland

By: Tasneem Bulbulia     7th September 2018 The Kittilä mine has invested in multinational corporation ABB’s production and personnel hoists, and these are set to be installed and introduced at the mine during 2020/21 The ABB delivery includes one friction type production hoist with 2.5 MW of motor power and a 1.2 MW single drum personnel... 

Rio Tinto exec joins Turquoise Hill board

By: Creamer Media Reporter      7th September 2018 NYSE- and TSX-listed Turquoise Hill has appointed Rio Tinto VP for copper and diamond sales and marketing, Alan Chirgwin, to its board of directors. Chirgwin has extensive commercial background and a proven track record in the resources industry, specifically in the Asia Pacific region,... 

Pollution regulator issues notices to Coal India for environmental non-compliance

By: Reuters     7th September 2018 The pollution regulator for the central Indian state of Odisha issued notices to Coal India mines with a combined annual capacity of 20-million tonnes for non-compliance on environmental norms, according to a document seen by Reuters. The notices, issued in July and August to 2 mines, alleged... 

Glencore completes sale of Rosneft stake to Qatar

By: Marleny Arnoldi     7th September 2018 Global diversified miner Glencore has completed the sale of its 14.16% stake in Russian integrated energy company Rosneft to a wholly-owned subsidiary of Qatar Investment Fund (QIA) for €3.7-billion. Glencore now holds a direct equity stake in Rosneft of 0.57% and QIA holds a direct equity... 

Kavango receives permit for Botswana electromagnetic survey

By: Tasneem Bulbulia     7th September 2018 Exploration group Kavango Resources has received a permit for the airborne electromagnetic geophysical survey of its KSZ project in south-west Botswana. The permit for the flying of the electromagnetic survey (VTEM) to be carried out over the licences in the Kalahari Suture Zone area was granted... 

Galantas Gold announces private placement

By: Simone Liedtke     7th September 2018 Aim- and TSX-V-listed Galantas Gold on Friday announced a private placement for a maximum of 30-million shares, at £0.042 a share. This will achieve gross proceeds of £1.2-million, which is intended to be used for working capital purposes and to continue development of an underground mine on... 

Lundin has no plan to amend Nevsun offer

By: Tasneem Bulbulia     7th September 2018 Canadian firm Lundin Mining has announced that it would not amend its bid for all of the issued and outstanding shares of fellow Canadian miner Nevsun Resources. This comes after Nevsun earlier this week agreed to a friendly C$1.86-billion takeover by Zijin Mining, trumping Lundin's hostile... 

Aveng expects to wrap up noncore disposals by June 2019

By: Terence Creamer     7th September 2018 Embattled construction group Aveng expects to finalise the disposal of all noncore businesses by June 2019. Following a strategic review, the JSE-listed company identified Aveng Trident Steel, Aveng Grinaker-LTA, Aveng Manufacturing, as well as certain properties and other assets, for sale. 

Aveng expects to wrap up noncore disposals by June 2019

Northam says growth strategy remains on track

By: Simone Liedtke     7th September 2018 Platinum producer Northam Platinum’s growth, diversification and optimisation strategy is on track, with progress being made in the development of the Booysendal South and Zondereinde mines, in Limpopo. Zondereinde has enjoyed relatively stable labour relations over the past few years, which has... 

Northam says growth strategy remains on track
Photo by Creamer Media
Northam Platinum CEO Paul Dunne

Trans Hex sells Cape Town head office building

By: Marleny Arnoldi     7th September 2018 JSE-listed diamond miner Trans Hex will sell the building that has been its head office for nearly three decades, announcing this week that the Cape Town property will be sold for R28.5-million. The building is located at 405 Voortrekker road, Parow.  

African Rainbow Minerals earnings rise, cash mounts, dividend boosted

By: Martin Creamer     7th September 2018 The headline earnings of diversified mining company African Rainbow Minerals (ARM) rose sharply in the 12 months to June 30, when the company generated strong cash flow that has underpinned a boosted cumulative dividend payout of R1.7-billion. Headline earnings increased by 51% to R4 814-million,... 

Barberton Mines concludes wage negotiations with unions

By: Marleny Arnoldi     7th September 2018 Gold mining group Pan African Resources’ Barberton Mines has successfully concluded a three-year wage agreement with the National Union of Mineworkers (NUM) and the United Association of South Africa (Uasa). The agreement provides for an average yearly wage increase of about 6.5% and 5.5% for... 

Nordic amends gold purchase agreement with PFL Raahe

By: Marleny Arnoldi     7th September 2018 TSX-listed Nordic Gold Corporation said on Thursday that it had agreed to amend certain terms in the November 2017 pre-paid forward gold purchase agreement with PFL Raahe Holdings. The agreement provided Nordic with $20.6-million to restart the Laiva gold mine, in Finland.  

McEwen reports encouraging exploration results from Canada, US projects

By: Marleny Arnoldi     7th September 2018 NYSE- and TSX-listed precious metals producer McEwen Mining has reported an updated mineral resource estimate for the Froome deposit and “highly encouraging” exploration results from its ongoing $15-million exploration programme at the Black Fox Complex, in Ontario, Canada. The Froome indicated... 

European Lithium raises funds to advance DFS

By: Esmarie Swanepoel     7th September 2018 ASX-listed European Lithium has secured a finance facility of up to A$10-million to fast-track the completion of a definitive feasibility study (DFS) on its Wolfsberg lithium project, in Austria. “Securing the funding provides the company an opportunity to fast-track completion of the DFS with... 

Danakali banks on new investor mood to fund Eritrean mine

By: Reuters     7th September 2018 Fertiliser miner Danakali aims to raise $322-million this year to develop giant potash reserves in Eritrea, industry sources say, banking on Asmara's warmer ties with Ethiopia to help lure investors. The project will test the changing mood in the West towards the isolated nation, sandwiched... 

Danakali banks on new investor mood to fund Eritrean mine
Danakali's potash site in Eritrea.

Thor hopes to kickstart US tungsten production

By: Esmarie Swanepoel     7th September 2018 A scoping study into the Pilot Mountain tungsten project, in Nevada, has found that the project could support a yearly throughput of 650 000 t over a 12-year operational life to generate 1 000 t/y of scheelite in concentrate, ASX- and Aim-listed Thor Mining said on Friday. The Desert Scheelite... 

Santos completes divestment of noncore assets

By: Esmarie Swanepoel     7th September 2018 Oil and gas major Santos has completed the $221-million sale of its non-core Asian portfolio of assets to Ophir Energy. The deal was struck in May of this year, and would see Santos divest of its 31.87% interest in the Chim Sao and Dua oilfields, in Vietnam, the 67.5% interest in the Maleo and... 

Santos completes divestment of noncore assets

Peel raises funds to advance projects, buy royalty

By: Esmarie Swanepoel     7th September 2018 ASX-listed Peel Mining will raise A$12.3-million to fund a maiden Joint Ore Reserves Committee compliant resource at the Wagga Tank project, advance its Mallee Bull project towards production, and complete the acquisition of a 2% net smelter royalty over the Wagga Tank project. The company has... 

Collins added to South32 lead team

By: Esmarie Swanepoel     7th September 2018 Diversified miner South32 has appointed Simon Collins as chief development officer, accountable for exploration, portfolio strategy, business development, and acquisitions and divestments. Collins will also continue to oversee the study phase of the Hermosa base metals project, in the US. 

Collins added to South32 lead team
Simon Collins

Red 5 enters into gold loan facility

By: Esmarie Swanepoel     7th September 2018 Gold miner Red 5 has entered into a gold loan facility of 5 015 oz with Malaysia-based investment fund Asian Investment Management Services. The gold will be made available in one tranche, with the facility to have a term of 12 months, and will be secured by a security interest in Red 5’s... 

Peru Minister proposes making tax benefit for miners permanent

By: Reuters     7th September 2018 Peruvian Energy and Mines Minister Francisco Ismodes on Thursday proposed making a temporary tax benefit for mining companies part of the country's permanent tax code in order to reduce investment uncertainty in the world's No. 2 copper producer. Miners in Peru have enjoyed refunds on an 18%... 

Carbon Tax, DRDGold and exploration make headlines 

7th September 2018 This week, there are calls for treasury to abandon the carbon tax plan in light of the new Integrated Resources Plan, DRD Gold expects rapid gold output and exploration stimulus must be transparent.  

Carbon Tax, DRDGold and exploration make headlines
Carbon Tax, DRDGold and exploration make headlines

R2.7bn approved for Gloria project – Assore

By: Martin Creamer     7th September 2018 Capital expenditure (capex) of R2.7-billion has been approved for the modernisation and optimisation of Assmang’s Gloria Manganese Mine at Black Rock in the Northern Cape, Assore CEO Charles Walters told Mining Weekly Online on Thursday. Assore owns 50% of Assmang, which it controls jointly with... 

R2.7bn approved for Gloria project – Assore
Black Rock Manganese Mine in Northern Cape.

Mining waste set to grow, but ‘reduce, reuse, recycle’ solutions abound

By: Tracy Hancock     7th September 2018 The evolution of waste management techniques to accommodate the shift to low-grade ores by mining operations is one of the key emerging trends in the global mining waste management market, states UK market research company Technavio. The London-headquartered company explains that in the last... 

Mining waste set to grow, but ‘reduce, reuse, recycle’ solutions abound

Positive PEA results for Nevada lithium project

By: Tasneem Bulbulia     6th September 2018 TSX-V-listed Cypress Development has announced positive results from a preliminary economic assessment (PEA) of the company’s Clayton Valley lithium project in Nevada, US. Prepared by Colorado-based engineering services firm Global Resource Engineering, the PEA focuses on a mine producing an... 

Viceroy says it's shorting Canadian miner Pretium Resources

By: Bloomberg     6th September 2018 Viceroy Research said it’s shorting Pretium Resources, arguing the company has artificially inflated the value of its Canadian gold mine, which risks being taken over by creditors in coming months. The New York-based short seller – which rose to prominence last year with research into financial... 

Viceroy says it's shorting Canadian miner Pretium Resources
The Brucejack mine in British Columbia.

CITIC to overtake Friedland as Ivanhoe’s largest shareholder

By: Mariaan Webb     6th September 2018 Chinese group CITIC Metal is set to overtake Robert Friedland as the largest shareholder in Ivanhoe Resources this month, when the C$723-million private placement deal with the company closes. The transaction, announced in June, has received all necessary approvals and will close on September... 

Coal-transition support should aid workers and communities, not Eskom – report

By: Terence Creamer     6th September 2018 A new report into South Africa’s coal sector argues that any subsidies set aside for the country’s “inevitable” transition away from coal in electricity production should be tailored to protect workers, their dependants and communities, rather than Eskom, or the coal sector as a whole. Published... 

Coal-transition support should aid workers and communities, not Eskom – report

DMR Limpopo office reopened following two-month closure

By: Simone Liedtke     6th September 2018 The Department of Mineral Resources (DMR) confirmed on Thursday that it had reopened its regional office in Limpopo, following a two-month shutdown. The Limpopo regional office was closed on June 25 as an “urgent intervention” after staff were allegedly threatened and a bullet was allegedly sent... 

Poland's JSW seeks tighter grip on coking coal with possible Prairie bid -sources

By: Reuters     6th September 2018 Poland's JSW is considering a bid for control of Prairie Mining to tighten its grip as the EU's biggest coking coal miner, two sources familiar with the situation said. Coking coal is on the European Commission's list of critical raw materials of economic importance with the price of Chinese... 

MC Mining to negotiate EPC package with Chinese group

By: Marleny Arnoldi     6th September 2018 Coal miner MC Mining has signed heads of agreements with Chinese construction group China Railway International Group (CRIG) to negotiate an engineering, procurement and construction (EPC) contract for the Makhado project, in Limpopo. Under the terms of the agreements, MC Mining and CRIG will... 

Manganese star performer, more stability in iron-ore price – Assore

By: Martin Creamer     6th September 2018 Manganese was the star performer for diversified mining company Assore in the 12 months to June 30, when the Johannesburg Stock Exchange-listed record-performer experienced greater stability in iron-ore pricing but also chrome price volatility caused by global tariff uncertainty. In reporting... 

Manganese star performer, more stability in iron-ore price – Assore
Photo by Creamer Media
Assore CEO Charles Walters

2018 platinum demand and supply seen contracting – WPIC

By: Nadine James     6th September 2018 Global platinum demand and supply will contract by 2% in 2018, the World Platinum Investment Council (WPIC) said in its latest Platinum Quarterly report on Thursday. Platinum supply is forecast to slip from 8.06-million ounces in 2017 to 7.91-million ounces in 2018, as most mining regions are... 

2018 platinum demand and supply seen contracting – WPIC
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