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Capital-raise puts novel underpin on Northam Platinum’s funded R6.6bn BEE deal

By: Martin Creamer     Updated 3 hours ago Platinum mining company Northam on Wednesday concluded a fully funded ten-year R6.6-billion black economic-empowerment (BEE) equity transaction underpinned by a R4.6-billion capital raising, which has the potential to position the JSE-listed company as a fully integrated, fully empowered South... 

Sibanye maintains FY output guidance

By: Creamer Media Reporter      Updated 5 hours ago Gold miner Sibanye Gold has maintained its output guidance for 2014 at 1.61-million ounces. The company, which would release an operating update for the third quarter on October 28, on Tuesday said total cash costs for the year to end December 31 would be about $850/oz, while all-in sustaining... 

OceanGold hopeful on Blackwater economics

By: Esmarie Swanepoel     Updated 7 hours ago A preliminary economic report on dual-listed gold miner OceanaGold’s Blackwater gold project, in New Zealand, has indicated an economically robust project. In a report released on Wednesday, the ASX- and TSX-listed miner stated that Blackwater could be mined at a rate of 120 000 t/y, to produce... 

BHP reports record production, says no major projects under way

By: Esmarie Swanepoel Mining giant BHP Billiton has reported record production across four commodities and eight operations during the quarter ended September, including from its Pilbara iron-ore operations. Iron-ore production for the three months under review increased by 1% on the previous quarter, and 17% on the... 

BHP reports record production, says no major projects under way
Photo by Bloomberg
BHP CEO Andrew Mackenzie

Global REE supply threatened after reports that 40% of Chinese supply is illegal

By: Henry Lazenby China, the world's most prolific producer of rare earth elements (REE),  has revealed that 40% of its supply is from illegally mined sources in the country, market-focused research house Benchmark Mineral Intelligence analyst Simon Moores reported on Tuesday. Industrial Minerals Company of... 

Global REE supply threatened after reports that 40% of Chinese supply is illegal

PEA outlines significant extra cash flow for True Gold’s Karma project

By: Henry Lazenby A preliminary economic assessment (PEA) on TSX-V-listed True Gold’s North Kao deposit has outlined an extra $118-million in after-tax free cash flow for the project developer’s Karma gold project, in Burkina Faso. The report, released on Tuesday, also found that – as a result of its high gold... 

Treasury Metals files EIS for Goliath gold project, Ontario

By: Henry Lazenby TSX-listed project developer Treasury Metals on Tuesday announced that it had achieved a significant milestone in developing its flagship Goliath Gold project, in north-western Ontario, after filing an environmental-impact statement (EIS) with the Canadian Environmental Assessment Agency (CEAA).... 

Chieftain Metals reports strong project feasibility optimisation

By: Henry Lazenby The proponent of the Tulsequah Chief polymetallic project, in British Columbia, Chieftain Metals, late on Monday published the results of an optimised feasibility study, aimed at improving the financeability of the project in the current difficult market. The 2014 feasibility update, prepared by... 

Chieftain Metals reports strong project feasibility optimisation

De Beers plans to keep South African diamond exploration spend at R30m a year

By: Martin Creamer Diamond company De Beers plans to maintain its diamond exploration spend in South Africa at R30-million to R35-million a year. De Beers Consolidation Mines (DBCM) CEO Phillip Barton, who spoke to Mining Weekly Online in a video interview (see attached) on the sidelines of the Diamond Route... 

De Beers plans to keep South African diamond exploration spend at R30m a year
Photo by Creamer Media
Phillip Barton (right) and Martin Creamer

Newcrest to wrap up Wafi-Golpu study by year-end

By: Esmarie Swanepoel Gold major Newcrest is hoping to complete an updated prefeasibility study (PFS) on its Wafi-Golpu joint venture, in Papua New Guinea, by the end of 2014, the Australian company reported on Tuesday. The project, which is being developed with South Africa’s Harmony Gold and comprises the Golpu and... 

Tiger ups production as SX-EW plant hits nameplate

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has reported a significant surge in production after its solvent extraction electrowinning (SX-EW) plant, at its Kipoi project in the Democratic Republic of Congo, reached nameplate capacity. First copper cathode was produced in May this year, and the... 

On back of strong Q3 output growth, Klondex lifts full-year outlook

By: Henry Lazenby Nevada-focused gold producer Klondex Mines on Monday reported a 73% quarter-on-quarter rise in precious metals produced during the three months ended September 30, as production benefitted from increased mill throughput and higher gold grades. The company, which this year transformed from a... 

Monument Mining obtains Malaysia federal stay order pending hearing

By: Henry Lazenby Malaysia-focused gold producer Monument Mining has obtained a stay from the Federal Court against the Court of Appeal's order forcing it to deposit $9.4-million into a joint account maintained by legal counsels of the respective parties to a lawsuit regarding a claimed interest in the Selinsing... 

Peabody beats Street Q3 forecast as Australian cost savings lift results

By: Henry Lazenby US coal producer Peabody Energy’s NYSE-listed stock was on Monday trending lower despite the company reporting a much narrower loss than what Wall Street analysts were expecting, mainly owing to lower costs at its Australian operations. For the three months ended September 30, the St Louis,... 

Peabody beats Street Q3 forecast as Australian cost savings lift results

Global supply glut increases iron-ore downside risks – Moody’s

By: Henry Lazenby A growing oversupply in the iron-ore market was damaging the credit quality of producers and posed risks to the downside, Moody's Investors Service noted last week in a sector comment - ‘Iron-ore supply increases pose risk to market fundamentals’. Owing to an aggressive supply push by the major... 

Global supply glut increases iron-ore downside risks – Moody’s

Randgold asks DRC to match local investment, maintain positive legal climate

By: Henry Lazenby While Randgold Resources’ Kibali gold mine, in the Democratic Republic of Congo (DRC), continued with its scheduled ramp-up, the company on Monday appealed to the local and national governments to match the nearly $600-million investment in the local economy and maintain an investor-friendly... 

Randgold asks DRC to match local investment, maintain positive legal climate

Niko Resources’ stock tumbles after Indian govt announces new gas price

By: Henry Lazenby Calgary-based Niko Resources, which has oil and gas exploration operations across Southeast Asia, on Monday said it was currently evaluating the impact of the Indian government’s new domestic gas pricing policy on its assets in the country. The company’s TSX-listed stock on Monday fell by more... 

Paladin’s Langer Heinrich output below forecast

By: Esmarie Swanepoel September quarter production from the Langer Heinrich mine, in Namibia, was significantly lower than expected, as unforeseen issues with process circuit scaling exacerbated production losses from planned maintenance, ASX- and TSX-listed Paladin Energy reported. The uranium miner had previously... 

Miners need sustainable solutions to productivity problem – EY

By: Esmarie Swanepoel A report by advisory firm Ernst & Young (EY) has indicated that cost cutting would only lead to short-term productivity gains for mining companies with complex operations and that sustainable long-term solutions were needed. In its new report, ‘Productivity in mining: now comes the hard part’,... 

Miners need sustainable solutions to productivity problem – EY

Atrum improves Groundhog North project economics

By: Esmarie Swanepoel Coal developer Atrum Coal has reduced the expected capital cost and increased the mine life of its proposed Groundhog North project, in Canada, after doubling the resource estimate earlier this month. ASX-listed Atrum on Monday reported that a supplementary prefeasibility study (PFS) into the... 

Troy advances Karouni gold project

By: Esmarie Swanepoel Dual-listed gold miner Troy Resources has moved a step closer to production at its Karouni gold project, in Guyana, after signing a minerals agreement with the state government. The minerals agreement detailed the fiscal, property, import/export procedures, taxation and other conditions for the... 

China metals demand seen up in 2015, copper at least 6%

By: Reuters China's consumption of refined copper is expected to rise at least 6% in 2015, roughly in line with this year, supported by new investment in power networks and demand from rail projects, analysts and industry executives said. An expected slowdown in new residential and commercial building... 

Cliffs shares slide on prospect of $6bn Q3 asset impairment charge

By: Henry Lazenby US miner Cliffs Natural Resources on Friday reported that it expected to book a $6-billion after-tax noncash impairment on its seaborne iron-ore and coal assets in the third quarter, sending its NYSE-listed stock sliding as much as 10% during intraday trading. The Cleveland, Ohio-based company... 

Cliffs shares slide on prospect of $6bn Q3 asset impairment charge

Riddle of inventory levels keeps platinum investors shy

By: Reuters Investors are unlikely to rush back into platinum any time soon after a minimal price reaction to its biggest-ever supply shock highlighted a major problem: no-one knows how much metal exists above ground or more importantly who holds it. Analysts predicted a surging market as a record five-month... 

Iron-ore boss at trader Glencore quits – source

By: Reuters The head of iron ore trading at commodities miner and trader Glencore, Christian Wolfensberger, has quit, according to a source with direct knowledge of the matter. Wolfensberger, a Swiss-born Glencore veteran with more than two decades of experience, was appointed to run the iron ore division... 

Orbis board rejects Semafo bid

By: Esmarie Swanepoel The directors of takeover target Orbis Gold on Friday rejected the takeover offer by Canada’s Semafo, saying the 65c a share cash offer undervalued the company. The Orbis directors also believed that the takeover offer did not factor in the significant near-term growth prospects available to the... 

Concerns about possible deflationary spiral as commodity prices continue to slide

By: Henry Lazenby In a global economy witnessing passive consumer inflation, sluggish wage growth and falling commodity prices, some market observers have voiced their concern about the potential for deflation in developed markets. Last month, gold dipped below $1 200/oz, before recovering marginally, as inflation... 

Concerns about possible deflationary spiral as commodity prices continue to slide

Concerns about possible deflationary spiral as commodity prices continue to slide

By: Henry Lazenby In a global economy witnessing passive consumer inflation, sluggish wage growth and falling commodity prices, some market observers have shown concern about the potential for deflation in developed markets. Last month, gold dipped below $1 200/oz, before recovering marginally, as inflation... 

Concerns about possible deflationary spiral  as commodity prices continue to slide

LBMA names Morgan Stanley as gold, silver market maker

By: Reuters The London Bullion Market Association (LBMA) said on Thursday it appointed Morgan Stanley as a market maker, underscoring the ambitions of some banks to expand into precious metals trading while others exit due to stringent regulations. LBMA said it named Morgan Stanley & Co International, a... 

LBMA names Morgan Stanley as gold, silver market maker

Iron-ore miner London Mining says to enter administration

By: Reuters Embattled West African iron-ore miner London Mining said on Thursday that its board had decided to place the company into administration. The company, which owns the Marampa mine, in Sierra Leone, has been battling high costs, a sharp drop in iron prices and the impact of the Ebola virus on... 

Iron-ore miner London Mining says to enter administration
Marampa

Novelis plans to shut Brazilian smelter by year-end

By: Reuters Novelis said on Thursday it will close its Ouro Preto aluminium smelter in Brazil, the latest casualty of high energy costs and low metal prices as the world's top rolled products maker focuses on downstream higher-value products. The plant, which makes 18 000 t/y of extrusion billet, will shut... 

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