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Wolfden Resources terminates Murray Brook acquisition, opts for Manitoba claim

By: Henry Lazenby     Updated 7 hours ago Base metals explorer Wolfden Minerals has cancelled its exclusivity agreement to buy a 65% interest in the Murray Brook project, the fifth-largest massive sulphide deposit in the Bathurst Mining Camp (BMC) of New Brunswick, from Votorantim Metals Canada, settling instead for a Manitoba... 

Canadian Mining Eye Index slows decline – EY

By: Henry Lazenby Professional services firm EY’s ‘Canadian Mining Eye Index had slowed its decline in the three months ended March 31, falling only 1% compared with a 12% decline in the fourth quarter last year. The index, which tracked the Canadian mining sector performance of 100 TSX- and TSX-V-listed mid-tier... 

Definition study enhances Unicorn business case, slashes capex – Dart

By: Mariaan Webb A project definition study of the Unicorn molybdenum, copper, silver and zinc project, in Victoria, has significantly improved the project definition and business case, ASX-listed Dart Mining reported on Wednesday. The company started a 15-month study of the project in March last year, following... 

London Metal Exchange aims to boost liquidity, electronic trading

By: Reuters The London Metal Exchange (LME) took more steps on Tuesday to boost liquidity by making it easier for new members, including US speculators, to have direct access to its electronic trading system. The LME's owner, Hong Kong Exchanges and Clearing, has been striving to increase LME volumes and... 

Mwana execs to lead Chamber of Mines of Zimbabwe

By: Creamer Media Reporter London-listed multicommodity miner Mwana Africa on Tuesday welcomed the appointment of two of its executives to the Chamber of Mines of Zimbabwe. Freda Rebecca gold mine MD Toindepi Muganyi was appointed president of the chamber, while Trojan nickel mine MD Batirai Manhando was appointed first... 

Axiom secures A$4m to fund Isabel

By: Esmarie Swanepoel Metals developer Axiom Mining has raised A$4-million through a share placement and a convertible note issue to fund the development of its Isabel nickel project, in the Solomon Islands. The junior reported on Friday that shares had been placed to a number of institutional and high net worth... 

Poseidon finds buyer for Silver Swan

By: Esmarie Swanepoel ASX-listed nickel miner Poseidon Nickel has sold the rights to mine the Silver Swan underground operation, on the Black Swan tenements in Western Australia, in a deal valued at A$1.5-million, in cash and shares. The Black Swan operations were acquired from major Norilsk Nickel earlier this year,... 

South32 in superb second-day share surge

By: Martin Creamer The share price of the new South32 mining company soared superlatively on day two. The demerged entity shot up 14% on the Australian Stock Exchange (ASX), rose 6.23% on top of Monday’s 3% rise in early morning trade on the Johannesburg Stock Exchange (JSE), and even closed higher at £1.08 a share... 

South32 in superb second-day share surge
Photo by Duane Daws
Mike Fraser at South32 listing in Johannesburg.

Poseidon sells Lake Johnston product

By: Esmarie Swanepoel Nickel miner Poseidon Nickel has agreed to sell up to 4 000 t of nickel concentrate, valued at A$2.3-million from its Lake Johnston facility to stainless steel producer Tsingshan Iron & Steel. Poseidon said on Tuesday that the concentrate was stored on site, and had been recovered and used to... 

South32 shares rise on JSE debut, BHP Billiton shares fall

By: Martin Creamer Value generation from the assets of South32 in the months ahead of its debut on the Johannesburg Stock Exchange (JSE) is indicative the upside potential of the triple-listed BHP Billiton spin-off company, which saw its shares end up well in the money at the JSE's close on Monday and those of BHP... 

South32 shares rise on JSE debut, BHP Billiton shares fall
Photo by Duane Daws
Mike Fraser (left) with Martin Creamer at South32 listing.

Mwana to hold EGM, shareholders to vote on board changes

By: Creamer Media Reporter The board of directors of multicommodity mining company Mwana Africa has advised shareholders to vote against proposals by a group of minority shareholders to unseat four independent nonexecutive directors. The company on Wednesday informed shareholders that the group of minority shareholders,... 

Creamer Media publishes African Mining Roundup for May 2015 research report

This month’s report includes details of iron-ore company Tawana’s agreement to formalise the legal and commercial conditions of the Mofe Creek project, in Liberia; Canadian miner Nevsun Resources’ Bisha operation, in Eritrea, which is on track to start commissioning at its new zinc plant by... 

Creamer Media publishes African Mining Roundup for May 2015 research report

Mirabela issued with stop order in Brazil

By: Esmarie Swanepoel The share price of ASX-listed Mirabela Nickel fell by nearly 4% on Tuesday after the company revealed that its Brazilian subsidiary had been issued with a stop work order at its Santa Rita mine and port operations. Work was stopped at the mine site on May 8, and Mirabela said that since that... 

Sierra Rutile appoints new COO

By: Megan van Wyngaardt Aim-listed mineral sands producer Sierra Rutile has appointed Wayne Venter as COO, effective August 1. Venter would be responsible for all aspects of operations, including overseeing current operations, strategic business planning and the execution of growth projects.  With over 25 years of... 

Strike action hinders Sherritt's Ambatovy project from finding stride

By: Henry Lazenby Strike actions involving a portion of Sherritt International’s workforce at the Ambatovy mine and, subsequently, at the Ambatovy plant, in Madagascar, was hindering the operation’s ramp-up to commercial production. For April, finished nickel output was 1 244 t, or 3 110 t on a 100% basis, about... 

South32 set to hit ground running after 98% BHP 'yes' vote 

By: Martin Creamer The demerging South32 mining company, which is set to hit the ground running after receiving an overwhelming 98.05% yes vote from BHP Billiton shareholders on Wednesday, is at an advanced stage of planning a global shared service centre in South Africa, which will create 200 new quality jobs.... 

South32 set to hit ground running after 98% BHP 'yes' vote
Photo by Bloomberg
Andrew Mackenzie

No relief for Canada's BC as PwC expects challenges to continue into 2015

By: Henry Lazenby British Columbia's (BC's) mining sector was not showing any early signs of improvement in 2015; however, investment in the mining industry needed continue despite today's challenging conditions, advised PwC's BC mining practice partner and leader, Mark Platt. "Miners need to keep exploring if... 

Exploration and mine development up to 2.5 times more costly in Canada’s North

By: Henry Lazenby A new study has found that the cost to explore and build new mines is as much as 2.5 times higher in northern Canada, mainly as a result of a lack of critical infrastructure. The study, titled ‘Levelling the Playing Field’, found that the cost of mineral exploration and building and operating... 

Exploration and mine development up to 2.5 times more costly in Canada’s North

Production up at Glencore’s South African coal mines

By: Martin Creamer Production from Glencore’s South African thermal coal mines was 10% higher in the three months to end March. The London-, Hong Kong- and Johannesburg-listed diversified mining and marketing company, headed by CEO Ivan Glasenberg, said on Tuesday that the ramp up of its newly commissioned... 

Production up at Glencore’s South African coal mines
Photo by Duane Daws
Ivan Glasenberg

Steelworkers ratify 5-year deal with Vale

By: Henry Lazenby United Steelworkers (USW) members in Sudbury and Port Colborne, in Ontario, have approved a five-year collective agreement with mining giant Vale. The union late on Friday announced that the new contract had been ratified by 76.7% of USW Local 6500 members, in Sudbury, and 87% of USW Local 6200... 

Axiom in funding talks for Solomon Islands project

By: Esmarie Swanepoel Metals developer Axiom Mining on Friday told shareholders that it was in negotiations with project financiers and potential offtake partners for its Isabel nickel project, in the Solomon Islands. Axiom was taking a phased approach to develop the Isabel project, with the initial focus being on... 

Strategic minerals and the aerospace and defence industries

By: Keith Campbell The term “strategic minerals” is one that is much used but one that, in the words of Brazilian minerals lawyer Raquel Quaresma de Lima, “does not have a steady definition”, while the Science and Technology Committee of the UK House of Commons has observed that there is “no single definition of... 

Strategic minerals and the aerospace and defence industries

BHP declares force majeure due to blockades at Cerro Matoso

By: Reuters BHP Billiton , the world's largest mining company, said on Thursday that union blockades at its Cerro Matoso nickel operation had forced it to declare force majeure with some customers. Unionised workers have been blocking access to the Cerro Matoso ferronickel mine and processing plant in... 

South32 weakness hidden – Investec

By: Martin Creamer Good overall third-quarter production performance by BHP Billiton hid the weaker performance of most of the assets that make up South32, Investec Securities mining analyst Hunter Hillcoat says. BHP Billiton intends simplifying its portfolio by demerging the South32 metals and mining company,... 

South32 weakness hidden – Investec
Photo by Duane Daws
Graham Kerr

Glencore spends $114m on corporate social initiatives 

By: Martin Creamer Diversified mining and marketing company Glencore spent $114-million on corporate social initiatives last year, representing 2.2% of group profit before tax, the company said on Tuesday. The 181 000-employee, 50-country Glencore, headed by CEO Ivan Glasenberg, said the investment helped to meet... 

Glencore spends $114m on corporate social initiatives
Photo by Duane Daws
Ivan Glasenberg

Anglo American sees solid Q1

By: Megan van Wyngaardt Global miner Anglo American on Thursday reported that its first quarter for the year delivered a solid production performance, in line with expectations. Although its South African iron-ore mines were facing some challenges, compounded by a weak iron-price, the company reported a 71%... 

Anglo American sees solid Q1

Ntaka Hill divestment gets Tanzania FCC nod

By: Esmarie Swanepoel The Tanzania Fair Competition Commission (FCC) has approved a proposed joint venture (JV) between ASX-listed IMX Resources and Mauritius-based Fig Tree Resources Fund II over the Ntaka Hill nickel project. In December last year, IMX agreed to a $6-million deal with Fig Tree to divest of more... 

Vale reports record Q1 iron-ore output despite price rout

By: Henry Lazenby Brazil-based global miner Vale has reported record first-quarter iron-ore output despite a global supply glut that wis being compounded by waning demand from China, the world’s top importer of the steelmaking ingredient. For the three months ended March 31, total iron-ore output, excluding... 

Vale reports record Q1 iron-ore output despite price rout

Canada’s mining industry welcomes federal budget 

By: Henry Lazenby Canada's national mining association has welcomed the Conservative government’s balanced federal budget 2015, citing its pleasure with renewed funding for critical areas such as environmental assessments, the Major Projects Management Office, Aboriginal education and training, and geoscience.... 

Canada’s mining industry welcomes federal budget
Photo by Reuters
Canada's Finance Minister Joe Oliver on Tuesday tabled a C$990.3-billion balanced budget.

Miners report first-quarter output ahead of financials

By: Henry Lazenby Several miners reported production results this week ahead of publishing financial results for the three months ended March 31. NYSE- and TSX-listed McEwen Mining reported 23% increased gold output to 24 696 oz and a decline in silver production of 10% to 655 339 oz in the period when compared... 

Philippines likely to ban export of nickel ore, says consultancy 

By: Dylan Stewart To take full advantage of its booming nickel production, there is internal pressure on the Philippines to encourage local beneficiation and ban the export of ore, says mining consultancy firm Core Consultants MD Lara Smith. 

Philippines likely to ban  export of nickel ore,  says consultancy
INCREASED MARKET SHARE By 2014 the Phillipines export of nickel ore has increased six fold since 2006, with a large portion of the ore being sold to China
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