R/€ = 15.88 Change: 0.02
R/$ = 13.45 Change: 0.05
Au 1243.94 $/oz Change: 6.10
Pt 882.27 $/oz Change: 4.77

Latest News

AfriTin advancing towards feasibility studies at Uis mine

By: Megan van Wyngaardt     30th November 2017 Since being admitted to shares trading, Aim-listed AfriTin Mining is now positioned to expand the pilot plant at Uis tin mine, in Western Namibia’s Erongo region, into a commercial operation, before completion of a definitive feasibility study for full-scale production. In the six months to... 

Implats’ CFO migrates to CoAL

By: Natasha Odendaal     30th November 2017 Coal of Africa Limited (CoAL) has appointed Brenda Berlin CFO. She will succeed De Wet Schutte, who resigned as FD effective, November 30, to pursue personal endeavours. 

Tharisa posts record production, profit for full year

By: Megan van Wyngaardt     30th November 2017 JSE- and LSE-listed platinum group metals (PGMs) miner Tharisa Minerals on Thursday posted record results for the year ended September 30, with earnings before interest, taxes, depreciation and amortisation up 168.7% to $115.6-million. This was paired with a 266.7% rise in its headline earnings... 

Bushveld Minerals to consolidate ownership in Bushveld Vametco

By: Megan van Wyngaardt     30th November 2017 Aim-listed Bushveld Minerals on Thursday said it had made an $11.1-million offer to acquire all the shares it does not already own in Bushveld Vametco (BVL). Bushveld currently owns 45% in BVL, while Yellow Dragon Holdings holds a 55% interest. 

PTM shifts focus to Waterberg project, debts

By: Megan van Wyngaardt     30th November 2017 TSX-listed Platinum Group Metals (PTM) on Thursday said its main focus in the year ahead would be on advancing its large-scale, bulk minable Waterberg project, in South Africa, after agreeing to sell its position in the Maseve mine to Royal Bafokeng Platinum. The miner said it would also focus on... 

Dassault Systèmes heralding in new autonomous mining era  

By: Martin Creamer     30th November 2017 The 'mine of tomorrow' is expected to be a factory-like entity equipped with a multiplicity of autonomous devices, which are controlled by technology savvy personnel working from remote centres, attendees of the natural resources forum heard in Sandton on Thursday. The ‘mine of tomorrow’ would... 

Dassault Systèmes heralding in new autonomous mining era
Dassault Systèmes Geovia CEO Raoul Jacquand interviewed by Mining Weekly Online’s Martin Creamer on mine modernisation. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Planning decision for Connonish gold project delayed

By: Mariaan Webb     30th November 2017 Aim-listed Scotgold will have to wait longer to hear whether it has been granted planning permission for its revised plans for the Cononish gold and silver project, near the Loch Lomond and Trossachs National Park in Scotland. A decision by the Loch Lomond and Trossachs National Parks Planning... 

Planning decision for Connonish gold project delayed

Berkeley closes Oman financing transaction

By: Samantha Herbst     30th November 2017 Following shareholder approval announced on Thursday, uranium project developer Berkeley Energia has completed a strategic investment of up to $120-million with the sovereign wealth fund of the Sultanate of Oman, which means that Berkeley can now bring the Spain-based Salamanca uranium mine into... 

Resources Watch  

     30th November 2017 This week: Argentina Lithium embarks on 10 000 m drill campaign And, Mato Products celebrates thirtieth anniversary 

Resources Watch
Resources Watch

Idle power capacity rises in India as coal, natural gas shortages spread

By: Ajoy K Das     30th November 2017 India is facing a sharp rise in idle power generation capacity triggered by shortages of coal and natural gas feedstock. According to information collated from government data, as much as 11 500 MW of thermal power generation capacity across 36 power plants were lying idle for want of coal. 

New Indian JV for beach sand mining

By: Ajoy K Das     30th November 2017 Indian Rare Earths Limited (IREL) and the Industrial Development Corporation of Odisha Limited (IDCOL), the investment arm of the eastern Indian province of Odisha, on Wednesday signed an agreement to float a joint venture (JV) company for beach sand mining project. The 51:49 IREL-IDCOL JV would... 

Lionsgold raises £550 000

By: Creamer Media Reporter      30th November 2017 Aim-quoted Lionsgold has raised £550 000 through the placing of shares, the company announced on Thursday, as CEO Cameron Parry said the firm was preparing for “key moments” over the coming weeks and months. "We have a highly talented team of natural resource industry skilled professionals who... 

Kibo advances strategy with Botswana IPP project stake acquisition

By: Anine Kilian     30th November 2017 In line with its strategy of building a diversified portfolio of energy production assets, Aim-listed Kibo Mining will acquire an 85% stake in a company that will hold the Mabesekwa coal independent power producer (MCIPP) project for about £9-million in shares. Kibo has entered into an agreement... 

A$4.8m for projects to boost innovation in resources sector

     30th November 2017 Eight projects that will boost cross-industry innovation, collaboration and sustainability in the resources sector will receive A$4.8-million in funding through the Australian government’s industry growth centres initiative, acting Industry, Innovation and Science Minister Michaelia Cash... 

Prairie submits Esia for Poland-based Jan Karski mine

By: Samantha Herbst     30th November 2017 Coal developer Prairie Mining has submitted the environmental and social impact assessment (Esia) for its Poland-based Jan Karski mine to the Lublin Regional Environment Directorate for environmental consent, making way for the public consultation process and environmental permitting process to... 

Karowe to produce up to 290 000 ct in 2018

By: Anine Kilian     30th November 2017 Canadian diamond junior Lucara Diamond’s Karowe mine, in Botswana, is expected to process between 2.4-million and 2.7-million tonnes of ore and produce between 270 000 ct and 290 000 ct of diamonds in 2018.  In an update to shareholders on Thursday, the diamond miner noted that the performance of... 

Harmony’s Hidden Valley expansion progressing ahead of schedule

By: Mariaan Webb     30th November 2017 The $180-million expansion project at Harmony Gold’s Hidden Valley mine, in Papua New Guinea, is progressing ahead of schedule and on budget, the South Africa-based miner reported on Thursday. Harmony, which bought former joint venture partner Newcrest’s stake in Hidden Valley last year, is... 

Ancuabe graphite project’s mineral resources increases by 59%

By: Megan van Wyngaardt     30th November 2017 The mineral resource at ASX-listed Triton Minerals’ Ancuabe graphite project, in Mozambique, has increased by 59% to 44-million tonnes, at an average grade of 6.6% total graphitic content (TGC). This follows a “highly successful” exploration and resource definition drilling campaign undertaken... 

Chile's Codelco plans environmental impact pricing for copper

By: Reuters     30th November 2017 Chile's Codelco will soon sell its first copper cathodes with pricing that takes into account the environmental footprint of production, its chairman said on Thursday. 

Codelco CEO seeks to learn about lithium mining on China trip

By: Reuters     30th November 2017 The Chief Executive Officer of Chilean state copper company Codelco, Nelson Pizarro, will visit research institutes in China to learn about lithium extraction on his current trip to Asia, he said on Wednesday. Speaking to Reuters on the sidelines of the Asia Copper Conference, Pizarro said the... 

Cloncurry offtake deal key to accelerating mine development – Altona

By: Mariaan Webb     30th November 2017 Australia’s Altona Mining, which is being bought out by Canada’s Copper Mountain, reported on Thursday that it had executed an offtake agreement with Glencore for the sale of copper/gold concentrates to be produced at the Cloncurry project, in north-west Queensland. Glencore, operates the Mt Isa... 

Copper execs see balanced market, warn on rising costs, regulation

By: Reuters     30th November 2017 The global copper market will be balanced for the foreseeable future even as mine supplies tighten and demand from China, the world's top consumer, remains strong, executives from major copper companies said on Wednesday. The forecast came as executives warned that rising environmental regulation... 

Copper execs see balanced market, warn on rising costs, regulation

Hendrina power station may not have adequate coal, no load-shedding seen

By: Reuters     30th November 2017 South African State-owned power utility Eskom said on Thursday coal stock at its Hendrina power station might be lower than the 20-day supply requirement, but rolling power cuts known locally as load shedding were not likely. Eskom may be forced to resume the nationwide electricity cuts that... 

Hendrina power station may not have adequate coal, no load-shedding seen

Academy of engineers calls for nuclear procurement halt until IRP consensus is reached

By: Terence Creamer     30th November 2017 The South African Academy of Engineering (SAAE) has called for a moratorium on the procurement of new electricity generation capacity, including nuclear power, until consensus has been reached on a new Integrated Resource Plan (IRP), which should be the outcome of “proper consultation in an open... 

Academy of engineers calls for nuclear procurement halt until IRP consensus is reached
Photo by Duane Daws
Energy Minister David Mahlobo

Kirkland Lake lists on the ASX as gold rush lures prospectors Down Under

By: Reuters     30th November 2017 Canada-based Kirkland Lake Gold listed its shares on the Australia bourse on Thursday after investing millions of dollars and joining dozens of other prospectors in a modern-day gold rush. Kirkland Lake expects to produce a quarter-million ounces of gold in 2017 from a mine it bought a year ago... 

AWE receives non-binding proposal from Chinese group

By: Natasha Odendaal     30th November 2017 ASX-listed AWE has received an unsolicited, non-binding, indicative and conditional buy-out proposal from the Australian subsidiary of State-owned China Energy Reserve and Chemical Group (CERCG). CERCG Australia offered to acquire 100% of AWE for $0.71 a share, subject to a number of conditions,... 

Sheffield spinoff Carawine raises A$7m in IPO

By: Mariaan Webb     30th November 2017 The new exploration company housing Sheffield Resources gold and base metals assets in Victoria and Western Australia, Carawine Resources, has raised A$7-million in an oversubscribed initial public offering (IPO). Sheffield, which is focusing on the Thunderbird mineral sands project in Western... 

Zambia's State-controlled investment firm wants bigger stake in copper mines

By: Reuters     30th November 2017 Following the sharp rise in copper prices this year Zambia's state-controlled firm ZCCM Investments Holdings wants to increase its stakes in the country's mines and also expects higher dividend payments, its chief executive said on Wednesday. ZCCM-IH, which was formerly called Zambia Consolidated... 

Lonmin to cut social, discretionary spending to save cash

By: Reuters     30th November 2017 Troubled platinum producer Lonmin plans to cut spending on social and labour projects and freeze "non-critical" recruitment, part of an array of measures to save cash, according to an unpublished presentation reviewed by Reuters. The South African miner, not for the first time, is facing an... 

Australian industry prepares for possible summer power cuts

By: Reuters     30th November 2017 Some of Australia's biggest power users, including mining giant BHP, are taking steps to curb the impact of any repeat of crippling blackouts that hit last summer, worried about a grid that increasingly relies on wind power and old coal-fired plants. Their back-up strategies come despite... 

Mantle wraps up asset disposals with Norton sale

By: Mariaan Webb     30th November 2017 Junior miner Mantle Mining has completed its asset disposal programme with the sale of its Norton gold project, near Gladstone, in Queensland, for A$525 000 in cash. The ASX-listed company earlier this month divested of its noncore Queensland exploration projects for A$400 000. 

European Metals raises £2.28m for lithium DFS

By: Creamer Media Reporter      30th November 2017 Australia- and UK-listed European Metals has raised £2.28-million through subscriptions to UK-based sophisticated investors. The funds will be used to advance the ongoing definitive feasibility study on the Cinovec deposit in the Czech Republic, which the company says is Europe’s largest lithium... 

European Metals raises £2.28m for lithium DFS

Fortescue unveils ‘core’ leadership team, names Gaines new CEO

By: Mariaan Webb     30th November 2017 Iron-ore miner Fortescue Metals has rearranged its management to from a core leadership team, led by new CEO Elizabeth Gaines. Gaines is moving from her position as CFO and is replacing Nev Power, who in September announced that he would step down early next year. 

Fortescue unveils ‘core’ leadership team, names Gaines new CEO
CEO-elect Elizabeth Gaines

Bitcoin haters don't get its gold-like qualities – Goldman Sachs

By: Bloomberg     30th November 2017 Bitcoin is a commodity with many similarities to gold, and the volatility that has sparked investor concern stems mainly from its lack of liquidity, said Jeff Currie, global head of commodities research for Goldman Sachs Group. “I don’t see why there is all this hostility to it,” Currie said in... 

Bitcoin haters don't get its gold-like qualities – Goldman Sachs

Southern Copper workers in Peru on strike for ninth day

By: Reuters     30th November 2017 Workers at Southern Copper, in Peru, said they completed a ninth day of an indefinite strike on Wednesday, following a failed negotiation attempt with the company. The walkout, which involved 3 000 members of two out of the five Southern Copper unions in Peru, has been declared illegal by the... 

Southern Copper workers in Peru on strike for ninth day

NUM, MQA fund 80 students’ studies

By: Megan van Wyngaardt     29th November 2017 The National Union of Mineworkers (NUM) and the Mining Qualification Authority (MQA) have signed a three-year bursary agreement with the JB Marks Education Trust Fund to fund 80 engineering students’ studies. This increases the JB Marks yearly intake from 200 to 280 beneficiaries for the next... 

Robots will run mines within the next decade, Anglo says

By: Bloomberg     29th November 2017 Some mines in the next decade will run without humans and instead rely on robots, virtual models and sensors, according to Anglo American. Anglo is betting on technology, such as computerized drills with "chiseling ability as good as a human" to increase productivity, cut costs and reduce... 

Small-scale mining has big future but requires formalisation, planning

By: Mia Breytenbach     29th November 2017 With industrial mining on the decline, smaller- to medium-scale mining operations are the future, according to Bench Marks Foundation South Africa lead researcher David van Wyk. Addressing delegates at the Science Business Society Dialogue Conference on Linking Science, Society, Business and... 

Small-scale mining has big future but requires formalisation, planning

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