http://www.miningweekly.com

Global Mining News in real time

North America News

Despite negative fundamentals for US coal, some flickers of hope to be found

By: Henry Lazenby     28th May 2016 One would be hard-pressed to find optimism in today’s US coal industry, but even as the country’s exports fall and the fossil fuel’s importance in the energy mix diminishes, there are some flickers of hope for the industry facing seemingly ever-darkening fundamentals. Doyle Trading Consultants... 

Commodity price indices rally as oil picks up where metals left off

By: Henry Lazenby     27th May 2016 Commodity price indices have rallied in recent weeks as strong performance by oil softened the lull in metals price movements. Scotiabank's commodity price index had improved by 4.5% month-over-month in April as energy gains more than offset metals weakness. 

Commodity price indices rally as oil picks up where metals left off

Nautilus lifts Central Pacific underwater resource by 67%

By: Henry Lazenby     27th May 2016 Marine mining pioneer Nautilus Minerals has this week reported an upgraded and improved mineral resource at its Clarion-Clipperton Fracture Zone (CCZ) project in the Central Pacific, which it held through its 100%-owned subsidiary Tonga Offshore Mining (TOML). Toronto-based Nautilus advised... 

Russia's Alrosa to hold US, UK investor meetings ahead of stake sale

By: Reuters     27th May 2016 Russian diamond miner Alrosa will hold investor meetings in the United States and the United Kingdom in June ahead of a stake sale, a Sberbank executive said on Friday. The Russian government aims to make more than 60-billion roubles ($909-million) from selling a 10.9% stake in Alrosa, with the... 

Canadian gold producer invests $11m in embattled Vantage Goldfields

By: Samantha Herbst     27th May 2016 Canadian gold producer AfroCan Resources Gold will invest $11-million over the next two months into South African gold miner Vantage Goldfields, effective June 1, following an agreement signed Friday, Vantage confirmed to Mining Weekly Online. The companies noted in a join statement that AfroCan,... 

Construction of Paringa’s Buck Creek No 2 mine due to start in 2017

By: Samantha Herbst     27th May 2016 With the permitting process now under way for Buck Creek No 2 mine, located in the Western Kentucky region of the Illinois basin, owner Paringa Resources expects construction of the mine to begin by the second quarter of 2017, with production due to get under way by mid-2018. “We are very pleased... 

Cleaver is new De Beers CEO

By: Martin Creamer     27th May 2016 Bruce Cleaver, 51, is the new CEO-designate of De Beers. He will take over from Philippe Mellier on July 1. After a half-decade at the helm, Mellier, who is ten years Cleaver’s senior, has honoured his commitment to step down as CEO after five years. 

Cleaver is new De Beers CEO
Photo by Creamer Media
New CEO-designate of De Beers Bruce Cleaver

Planetary Resources turns gaze back to earth with $21.1m investment

By: Henry Lazenby     27th May 2016 Prospective asteroid miner Planetary Resources has received a $21.1-million investment to deploy and operate Ceres, an advanced Earth observation business featuring the first commercial infrared and hyperspectral sensor platform that would be harnessed to better understand and manage humanity’s... 

PTM closes $33m financing

By: Henry Lazenby     26th May 2016 Canadian project developer Platinum Group Metals (PTM) has closed a public offering of common shares to raise $33-million. The Vancouver-based company had issued 11-million common shares at $3 each. 

Teck prices $1.25bn of senior notes

By: Henry Lazenby     26th May 2016 Canadian diversified miner Teck Resources has announced the pricing of an offering of $1.25-billion in senior unsecured notes, comprising $650-million of five-year notes and $600-million of eight-year notes. The Vancouver, British Columbia-headquartered company advised that the notes would be... 

Strong tailwinds giving juniors, project developers room to run – research note

By: Henry Lazenby     26th May 2016 About halfway through the first quarter, analysts at Dundee Capital Markets noticed that exploration companies that had weeks earlier appeared to be dead in the water, as investors abandoned all but a handful of names, were steadily starting to leave the laggards behind as a combination of the... 

Strong tailwinds giving juniors, project developers room to run – research note

Purpose completes Silver Bullion Trust conversion into ETF, offers currency-hedged ETF units

By: Henry Lazenby     26th May 2016 Investment management firm Purpose Investments has completed the conversion of the Silver Bullion Trust (SBT) into an open-ended exchange traded fund (ETF) and both US-dollar and Canadian-dollar denominated non-currency hedged units of the fund started trading on the TSX on Thursday. The fund had... 

WTI, Brent crude rises above $50 for first time this year

By: Henry Lazenby     26th May 2016 Hamstrung oil producers could on Thursday afford a brief sigh of relief as the prices of both West Texas Intermediate (WTI) and Brent crude rose briefly above the psychologically important $50/bl-mark in early trading. WTI hit a high of $50.21/bl around 08:00 Eastern Daylight Time, while Brent... 

WTI, Brent crude rises above $50 for first time this year

Rio Tinto agrees to extend Laramide farm-in and JV agreements

By: Henry Lazenby     26th May 2016 Canadian uranium project developer Laramide Resources has received an extension from Rio Tinto Exploration (RTX) to complete certain work programmes and satisfy minimum spending obligations under the earn-in periods on the Rio Tinto Murphy farm-in and joint venture (JV) tenements in the Northern... 

Continually flipped Moz gold project goes for $17.5m

By: Martin Creamer     26th May 2016 The Manica gold project in Mozambique, which has been bought and sold several times in recent years, is being disposed of once more. On two occasions the disposals have been conducted under the same management head – Jan Nelson, who announced on Thursday that his London Aim-listed Xtract had... 

Continually flipped Moz gold project goes for $17.5m
Photo by Duane Daws
Xtract CEO Jan Nelson

Lithium Australia joins forces with TSX-listed Alix to develop concession in Mexico

By: Samantha Herbst     26th May 2016 Following a memorandum of understanding signed Thursday, ASX-listed junior developer Lithium Australia has joined forces with TSX-listed Alix Resources to develop the lithium-extraction technologies needed to advance Alix’s lithium concessions – the Electra project – in Sonora, Mexico, earning... 

Chile, SQM head to court after failing to reach agreement

By: Reuters     26th May 2016 Chile said on Wednesday that it would bring a recent dispute with fertiliser supplier SQM to court after a meeting with the company's executives failed to produce an agreement. The government's statement follows an announcement on Monday in which it said it was beginning a new arbitration... 

Wallbridge to buy Fenelon project

By: Henry Lazenby     26th May 2016 Wallbridge Mining Company has this week entered into a binding letter of intent to acquire the Fenelon gold property from Balmoral Resources for C$3.6-million.  The Fenelon mine property was an advanced-stage project with near-term production potential, as well as drill intersections suggesting... 

Kincora consolidates key Mongolian land-holdings with ‘mega’ potential

By: Henry Lazenby     26th May 2016 Bolstered by the recent restart of Rio Tinto’s multibillion-dollar Oyu Tolgoi Phase 2 in the copper belt, TSX-V-listed explorer Kincora Copper on Wednesday advised that it had reached an agreement with privately owned explorer High Power Exploration (HPX) to merge two Kincora subsidiaries with... 

Explorer Altair secures 700 ha property next to HudBay’s Constancia mine in Peru

By: Henry Lazenby     26th May 2016 Canadian explorer Altair Gold has signed a binding letter of intent with a third party to acquire Epic Mining, which owns 99% of Panamericana, the 100% holder of the rights, title and interest in the 900 ha Lejin mineral property, in southern Peru. Altair advised that 700 ha of the Leijin... 

Centerra vows to fight two enviro rulings as Kyrgyz woes continue 

By: Henry Lazenby     26th May 2016 Canada’s Centerra Gold is having a busy week at the Kyrgyz courts after the company received two rulings in two days against its wholly owned subsidiary Kumtor Operating Company (KOC) for alleged environmental infractions at its eponymous mine in the country. Centerra also had to defend itself... 

Centerra vows to fight two enviro rulings as Kyrgyz woes continue
Photo by Reuters
Kumtor, Kyrgyz Replublic

HammerTek expands defection elbow product offering

By: Creamer Media Reporter      25th May 2016 The cast aluminium line of Smart Elbow deflection elbows from manufacturer HammerTek is now available in tube and pipe sizes from 3.8 cm up to 30.5 cm in diameter, helping to improve materials handling in dilute-phase and dense-phase pneumatic conveying systems applications. The deflection... 

Russia, China add more gold reserves; Venezuela sells more

By: Reuters     25th May 2016 China and Russia, two of the largest holders of bullion, and Kazakhstan bolstered their gold reserves last month, while Venezuela sold off more of its bullion earlier this year, data from the International Monetary Fund showed on Tuesday. Extending a prolonged buying spree, Russia added 16.2 t... 

New acid mine water process has huge agri potential in arid areas  

By: Martin Creamer     25th May 2016 The newly developed process that yields handsome profits by converting acid mine water into valuable fertiliser materials, also has the potential to process South Africa’s large volumes of currently unusable brackish groundwater. The use of the process that eradicates acid mine drainage (AMD) for... 

New acid mine water process has huge agri potential in arid areas
Photo by Duane Daws
Trailblazer Technolgies director John Bewsey

Kyrgyz court fines Centerra unit Kumtor $98m

By: Reuters     25th May 2016 A court in Kyrgyzstan fined the country's biggest gold miner Kumtor Operating Company, a unit of Canada's Centerra Gold, 6.7-billion some ($98-million) for environmental damage on Wednesday. Kumtor's lawyers told reporters at the hearing that they would appeal the ruling. 

Kyrgyz court fines Centerra unit Kumtor $98m
Photo by Centerra Gold
Kumtor, Kyrgyz Republic

Capital Mining eyes another lithium acquisition

By: Mariaan Webb     25th May 2016 ASX-listed Capital Mining was in “advanced stage” negotiations about a lithium acquisition, the company revealed on Wednesday. Capital Mining, which earlier this month announced a sales and purchase agreement to buy Shaw River Lithium and its 13 prospecting licences in the Pilbara, said it was... 

Capital Mining eyes another lithium acquisition
The demand for lithium-ion batteries is increasing, prompting more junior mining companies to enter the lithium sector.

Joint panel formed to review Teck Resources oil sands project

By: Samantha Herbst     25th May 2016 A three-member joint panel of environmental experts has been established to review diversified miner Teck Resources’ proposed Frontier oil sands mine project, in Northern Alberta, announced Environment and Climate Change Minister Catherine McKenna and Alberta Energy Regulator president and CEO... 

Wildfire-hit Athabasca Oil resumes operations at Hangingstone

By: Samantha Herbst     25th May 2016 TSX-listed energy company Athabasca Oil Corporation has resumed operations at its Hangingstone facility, 20 km south of Fort McMurray, which has been engulfed by a Canadian wildfire starting in early May, forcing widespread evacuations and a prolonged shutdown of all oil operations in the region.... 

Higher commodity prices support 26% rise in Q1 Canadian Mining Eye index

     25th May 2016 Higher commodity prices have contributed to a 26% rise in EY’s Canadian Mining Eye index for the first quarter of this year. “Improved gold and base metals prices appeared to generate much-needed positive momentum in the sector. The strong growth of Canadian mining equities also indicates... 

Higher commodity prices support 26% rise in Q1 Canadian Mining Eye index

RBCT CEO to stand down

By: Martin Creamer     24th May 2016 Richards Bay Coal Terminal (RBCT) CEO Nosipho Siwisa-Damasane will be stepping down after four years at the helm. RBCT said on Tuesday that GM finance Alan Waller would be taking over as CEO from July 1, when GM strategy and compliance Casper Mbuyazi would assume the finance role. 

RBCT CEO to stand down
RBCT CEO Nosipho Siwisa-Damasane

New highly profitable acid mine water solution unveiled 

By: Martin Creamer     24th May 2016 A process has been developed that yields handsome profits by converting acid mine water into valuable fertiliser materials. The process, which purifies the water free of charge, removes all of the total dissolved solids and converts them into saleable products. 

New highly profitable acid mine water solution unveiled
Photo by Duane Daws
Trailblazer director John Bewsey (right) and Martin Creamer

Unionised employees strike at Kinross Gold’s Mauritania mine

By: Samantha Herbst     24th May 2016 Following a strike notice issued earlier this month, unionised employees at Kinross Gold's Tasiast mine, in Mauritania, on Tuesday embarked on strike action. Kinross said in a statement that it remained open to restarting negotiations on a new collective agreement and to resolve other outstanding... 

Oil and gas discoveries at 64-year low as price slump hits exploration budgets

By: Creamer Media Reporter      24th May 2016 Conventional oil and gas discoveries outside North America have fallen to the lowest level since 1952, with recoverable resources of only 12-billion barrels of oil equivalent having been discovered in 2015. Analysis from NYSE-listed IHS, which was published on Tuesday, showed that the volume of... 

De Beers ‘encouraged’ by stable rough diamond demand

By: Creamer Media Reporter      24th May 2016 Although De Beers’ rough diamond sales were lower for the fourth sales cycle of this year than in the third, the diamond miner said it was “encouraged by the continued stability of demand for rough diamonds”. De Beers sold about $630-million of diamonds in the fourth sales cycle up to May 23,... 

De Beers ‘encouraged’ by stable rough diamond demand

New Mexico sues EPA, mine owners over massive gold mine waste spill

By: Reuters     24th May 2016 New Mexico sued the US Environmental Protection Agency, an agency contractor and two mining companies on Monday over the 2015 breach of an abandoned Colorado gold mine that spilled some 3 million gallons of toxic wastewater into three states. The Gold King Mine rupture, which was accidentally... 

Bacanora raises $11.2m for Sonora lithium project

By: Samantha Herbst     23rd May 2016 TSX-V- and Aim-listed project developer Bacanora Minerals has raised $11.2-million for its Mexico-based Sonora lithium project, which is considered one of the largest lithium resources worldwide. Bacanora raised the funds through a share placement of 9.75-million shares at 79p a share, with... 

First permanent infrastructure being built at new DRC tin mine

By: Martin Creamer     23rd May 2016 The first permanent mining infrastructure is being built at the proposed new tin mine at Bisie, in the Democratic Republic of Congo (DRC), for which $130-million is being raised. Alphamin Resources CEO Boris Kamstra said the return airway drive being built would be used to acclimatise mining... 

First permanent infrastructure being built at new DRC tin mine
Photo by Duane Daws
Alphamin CEO Boris Kamstra

Caeneus to move ahead with US lithium buy

By: Mariaan Webb     23rd May 2016 Australia’s Caeneus Minerals reported on Monday that it had completed its due diligence investigation into two lithium projects in the US and that it would proceed with the acquisition. The company stated that it would call a shareholder meeting to seek approval for the acquisition of Nevada... 

First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

Latest News: Africa and Europe

Latest News: Australasia

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
R/€ = 17.47Change: -0.09
R/$ = 15.73Change: -0.21
Au 1212.98 $/ozChange: -1.01
Pt 977.00 $/ozChange: -4.00
 
Subscribe Now for $149
Subscribe Now for $149 Close