R/€ = 17.42 Change: 0.09
R/$ = 15.57 Change: 0.15
Au 1217.28 $/oz Change: 9.47
Pt 974.50 $/oz Change: 5.50

Project Management News

Higher gold price ensures stable South African sector

By: Simon Sonnekus     24th June 2016 The record high gold price has proven to be a stroke of luck for South African companies functioning within the global gold sector. According to professional services firm KPMG gold commodity lead and partner Daniel Hooijer, the R600 000/kg price has lessened the blow of the low dollar gold price. 

Incremental mine development key for gold sector

By: Simon Sonnekus     24th June 2016 In the face of global capital constraints, gold mining companies have been forced to look into alternative options for the development of mines. The gold mining industry is known traditionally for larger-sized operations that require the establishment of a large reserve base as well as large... 

Incremental mine development key for gold sector
Photo by Bloomberg
GROWTH The steady gold price has been a bright light in an otherwise deflated commodities market

Remote operations, automation and use of analytics among the mining shifts highlighted in new report

By: Dylan Slater     24th June 2016 Global management consulting company VCI released its third edition of its yearly report on innovation in the global resource industry during the Southern African Institute of Mining and Metallurgy’s New Technology and Innovation in the Mining Industry colloquium, which was held from June 9 to 10... 

Chile's Codelco to decide on partner for lithium development in 2017

By: Reuters     23rd June 2016 The world's No 1 copper producer Codelco is expected to make its decision on who to partner with to develop its lithium assets in the first quarter of next year, Chile's Mining Minister Aurora Williams told Reuters on Thursday. Lithium is an important ingredient in rechargeable batteries and is... 

Analyst urges caution as lithium excites and pitfalls multiply

By: Simon Rees     23rd June 2016 Lithium’s prospects are bright as demand from the battery sector is surging and observers believe it will only get better as more electric vehicles (EV) are produced and new energy storage solutions arise, such as Tesla’s Powerwall technology. Indeed, prices had marched higher, while... 

Analyst urges caution as lithium excites and pitfalls multiply
Photo by Reuters
Rockwood's Lithium plant on the Atacama salt flat, the largest lithium deposit currently in production, in the Atacama desert of northern Chile

Average capex overrun for mining companies hits 37% – EDC study

By: Simon Rees     20th June 2016 The average cost overrun for mining projects studied by Export Development Canada (EDC) has reached 37% over the capital expenditure (capex) budgeted, EDC managing principal Tin Lwin told an audience at a recent meeting of the Canadian Institute of Mining’s Management and Economics Society in... 

Average capex overrun for mining companies hits 37% – EDC study

PTM’s new Maseve mine exploiting one of remaining pieces of Merensky ore

By: Dylan Slater     17th June 2016 Precious metals producer Platinum Group Metals (PTM) is set to capitalise on one of the last outcrops of the Merensky reef in Rustenburg, Limpopo with its newly commissioned Maseve mine.  

Ambatovy JV defers principal payment, Sherritt continues not to fund cash calls

By: Henry Lazenby     15th June 2016 Canadian diversified miner Sherritt International has announced that the group of lenders to its 40%-owned Ambatovy nickel and cobalt mine, in Madagascar, have entered into temporary agreement to defer a principal repayment due on Wednesday, to August 5. The Toronto-headquartered company said an... 

Nemaska to graduate to TSX main board, achieves financing milestones

By: Henry Lazenby     15th June 2016 Quebec-based project developer Nemaska Lithium on Wednesday announced that the TSX has conditionally approved the listing of its common shares. Listing of the shares was subject to the currently TSX-V-listed company’s compliance with all of the requirements of TSX on or before September 8, and... 

Peruvian mining volumes continue to grow as new president takes helm

By: Simon Rees     15th June 2016 The Peruvian mining industry is expected to spur renewed growth in the country as output grows, prices stabilise and revive, several speakers told a recent Peruvian-Canadian Chamber of Commerce economic outlook seminar. The recent Peruvian election was so close that the winner Pedro Pablo... 

Peruvian mining volumes continue to grow as new president takes helm
Photo by Reuters
Incoming Peruvian president Pedro Pablo Kuczynski

As lithium demand rises, investors sharpen focus on Chile, Argentina and Bolivia

By: Henry Lazenby     14th June 2016 In line with the breakneck growth in lithium demand, driven by the unprecedented use of the soft, silver-white metal in new battery technologies, investors are increasingly scrutinising South American countries such as Bolivia, Chile and Argentina, where about 70% of the world’s known lithium... 

As lithium demand rises, investors sharpen focus on Chile, Argentina and Bolivia
Photo by Reuters
Bolivia, Chile and Argentina are likely to become key players in the lithium industry, accounting for more than 70% of the world’s known reserves

New imaging technology to potentially disrupt optical industry

By: Henry Lazenby     13th June 2016 Former Vancouver-based rare earths explorer Elissa Resources has in February rebranded as NexOptic Technology and turned its attention to developing cutting-edge imaging technology in cooperation with Calgary-based acquisition target Spectrum Optix. NexOptic CEO Paul McKenzie explained to... 

New imaging technology to potentially disrupt optical industry
Photo by NexOpticTechnology
A rendering of a comparison of a traditional telescope and the NexOptic telescope prototype

Mine superpower status awaits Peru if new leader can woo farmers

By: Bloomberg     10th June 2016 Arriving late to the mining boom helped Peru defy a global freeze on project spending as prices plunged. Now the pipeline’s drying up, and the country’s chances of joining neighbouring Chile as a copper superpower depend largely on the next president’s affinity with remote communities. For Pedro... 

Saskatchewan most attractive Canadian jurisdiction in latest Fraser Institute survey

By: Creamer Media Reporter      9th June 2016 Saskatchewan remains the most attractive jurisdiction for mining investment in Canada, according to the yearly global survey of mining executives released on Thursday by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. The ‘Fraser Institute Survey of Mining... 

Saskatchewan most attractive Canadian jurisdiction in latest Fraser Institute survey

Four new periodic elements named, including Asia’s first discovery

By: Henry Lazenby     9th June 2016 The International Union of Pure and Applied Chemistry (IUPAC) has recommended that the names of four new elements to be added to the periodic table be approved following a five-month public review process that would end on November 8. The elements’ discovery teams were invited to name the new... 

Preliminary licence granted for Horizonte’s Araguaia nickel mine, beneficiation plant

By: Henry Lazenby     8th June 2016 Nickel development company Horizonte Minerals has received a preliminary environmental licence (LP) for the planned Araguaia nickel mine and beneficiation plant from the Brazilian Pará State Environmental Agency (SEMAS). According to the Aim and TSX-listed company, which brought the project from... 

Eureka acquires half of Gemini lithium project, Nevada

By: Henry Lazenby     8th June 2016 TSX-V-listed Eureka Resources on Wednesday announced that it had successfully closed the acquisition of a 50% working interest in the Gemini lithium project, located in the western Lida Valley of Nevada. Under terms of the deal, Vancouver-based Eureka had paid C$96 794 to vendor Nevada Sunrise... 

Venezuela's Maduro creates mining ministry

By: Reuters     8th June 2016 Venezuela President Nicolas Maduro announced on Tuesday the creation of a ministry devoted just to mining, as the Opec nation pushes to develop untapped mineral resources to diversify away from the oil industry, which provides nearly all its foreign exchange. Maduro's government is seeking... 

Nevsun starts ore commissioning of combined copper/zinc plant

By: Henry Lazenby     7th June 2016 TSX- and NYSE MKT-listed Nevsun Resources, which operates the Bisha mine, in Eritrea, has on Monday started ore commissioning of the combined copper and zinc plant, with commercial production of the expanded operation slated before end-September. The Vancouver-headquartered company advised that... 

Largo hits new production record at Maracas Menchen

By: Henry Lazenby     3rd June 2016 Vanadium producer Largo Resources has hit new vanadium pentoxide (V2O5) production records at its flagship Maracás Menchen mine, in Bahia, Brazil, bringing the operation a step closer to achieving nameplate capacity. The TSX-V-listed company on Thursday reported that it had broken all previous... 

Major endorses diamond search

By: Henry Lazenby     3rd June 2016 Explorer CanAlaska Uranium has gained a multimillion-dollar endorsement from the world’s largest crystallised-carbon producer De Beers Group of Companies, after the partners entered into an option-participation agreement for expenditures up to C$20.4-million on kimberlite-style targets staked by... 

While iron-ore price crawls sideways, Champion readies for Bloom Lake revival

By: Henry Lazenby     2nd June 2016 Despite the price outlook for the steelmaking ingredient iron-ore crawling sideways at best in 2016, TSX- and ASX-listed junior Champion Iron is preparing to restart its recently acquired Bloom Lake mine, near Fermont, Quebec, as soon as markets improve. Under the leadership of chairperson and... 

While iron-ore price crawls sideways, Champion readies for Bloom Lake revival
Photo by Henry Lazenby
Champion Iron chairperson and CEO Michael O’Keeffe (L) and VP for engineering David Cataford (R) at Bloom Lake, Quebec

Brazil to see increasing investment, M&A as mineral prices stabilise

By: Henry Lazenby     2nd June 2016 In the wake of stabilising commodity prices led by a gold rally in the first quarter, the Brazilian mining sector is set to play host to increased investment and mergers and acquisitions (M&A) activity. Host to miners such as Yamana Gold and spin-out Brio Gold, Eldorado Gold, Belo Sun Mining,... 

Brazil to see increasing investment, M&A as mineral prices stabilise
Photo by Reuters
Brazil's mining sector will see a number of high-value deals, as overleveraged producers sell high-quality assets

Nemaska adds to its lithium-focused patent portfolio

By: Henry Lazenby     1st June 2016 Quebec-based project developer Nemaska Lithium has received a new Canadian patent that describes its proprietary process of preparing lithium hydroxide and lithium carbonate from spodumene sources using membrane electrolysis. TSX-V-listed Nemaska had also received a corresponding patent... 

Suncor partially restarts Fort McMurray ops as Alberta wildfire grows to cover 579 946 ha

By: Henry Lazenby     30th May 2016 Even as the Alberta wildfires continued to rage out of control, oil sands major Suncor Energy announced at the weekend that it had started a safe and staged restart in the Regional Municipality of Wood Buffalo (RMWB), with initial production from its Firebag in situ facility starting early last... 

Suncor partially restarts Fort McMurray ops as Alberta wildfire grows to cover 579 946 ha
Photo by Air Canada
About 300 South African firefighters have arrived in Edmonton to assist combating the Alberta wildfires

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... 

Lithium X options half of key Nevada prospect to North South Petroleum

By: Henry Lazenby     19th May 2016 Lithium development company Lithium X Energy has agreed to option half of its Clayton Valley South Expansion lithium (CVL) property, which comprised 471 federal placer mining claims, totalling about 3 861 ha, and was located about 50 km south-west of Tonopah, Nevada, to fellow TSX-V-listed North... 

American Lithium acquires private BC firm with 80% option on Nevada prospect

By: Henry Lazenby     18th May 2016 Canadian explorer American Lithium has closed the acquisition of private British Columbia firm 1065604 BC, which held the option to earn an undivided 80% interest in the Atlantis lithium property located in Fish Lake Valley, Esmeralda County, Nevada. Nevada was ground zero for a land rush to cash... 

Mining companies urged to consider price forecasting with greater care

By: Simon Rees     18th May 2016 While predicting future metals prices is a vital tool for assessing the viability of a deposit, a project’s economics or the potential income an operation could expect to generate, the prognostications often prove wrong. “Studies of past forecasts show that the success rate for commodity price... 

US sets steep duties on imports of Chinese cold-rolled steel

By: Reuters     17th May 2016 The US on Tuesday set final anti-dumping duties of 265.79% on imports of cold-rolled flat steel from China and 71.35% on imports from Japan, finding that producers from these countries were selling the products at unfair prices. The Commerce Department also said it levied final anti-subsidy... 

US sets steep duties on imports of Chinese cold-rolled steel

Miners adapting to more austere fundamental backdrop – report

By: Henry Lazenby     17th May 2016 Mining companies, in general, are adapting to a more austere fundamental backdrop, despite a recent announcement in Chinese media that the country would be removing stimulus and reprioritising reforms, which caused significant apprehension during Bank of America Merrill Lynch’s (BofAML’s) recent... 

Miners adapting to more austere fundamental backdrop – report

Positive progress at Kombat copper mine

     13th May 2016 Canadian exploration and development company Kombat Copper president and CEO Paul Bozoki is confident that the Kombat copper mine, in the Otavi Mountainlands of Namibia, will start production in late 2016 and begin generating cash flow for the company.  

Positive progress at Kombat copper mine
CONFIDENT CONTRACTOR EBM is confident that it will meet the commissioning date of the production facilities at the Kombat copper mine

Lithium X strikes pilot-production JV accord for flagship Argentina asset

By: Henry Lazenby     12th May 2016 Junior explorer Lithium X has announced Thursday that its 50%-owned subsidiary Potasio y Litio de Argentina (PLASA), which owns 100% of the Sal de los Angeles lithium/potash brine project, in Argentina, has entered into a definitive joint-venture (JV) agreement with a consortium of experienced... 

Taseko proxy contest cancelled as activist shareholder support fades

By: Henry Lazenby     10th May 2016 A special meeting of Taseko Mines shareholders to decide on proposals brought forward through a special meeting request by activist shareholder Raging River Capital (RRC), which was scheduled to take place on Tuesday, has been cancelled on the eleventh hour, as support for the dissident motions... 

Freeport exits Africa with $2.7bn Tenke Fungurume sale 

By: Henry Lazenby     9th May 2016 US diversified miner Freeport McMoRan has announced the $2.65-billion sale Monday of its 70% interest in TF Holdings, which controlled an 80% stake in the Tenke Fungurume copper/cobalt mine, in the Democratic Republic of Congo (DRC). NYSE-listed Freeport had entered into a definitive agreement to... 

Freeport exits Africa with $2.7bn Tenke Fungurume sale

Canadian miners contribute C$50 000 to Fort McMurray relief

By: Henry Lazenby     6th May 2016 The Mining Association of Canada (MAC) has made a charitable contribution of C$50 000 to the Red Cross in Alberta, on behalf of members with mining operations active in almost every Canadian jurisdiction. This is to support the families devastated by the wildfire that has ravaged Fort McMurray... 

Another Mozambique coal railway project develops, while country is hit by debt scandal 

By: Keith Campbell     6th May 2016 The international tender for the construction of a new railway to link Mozambique’s coal fields to the coast closed at the end of last week. The project is being developed by Thai Moçambique Logística, a joint venture between Thailand-based Italian Thai Development Company, which has a 60% share,... 

Crushing circuit commissioned at Côte d’Ivoire gold operation

By: David Oliveira     6th May 2016 Africa-focused gold producer Randgold Resources announced last month that it had commissioned its fourth-stage crushing circuit at its Tongon gold mine, in Côte d’Ivoire, completing an extensive capital project designed to improve throughput and recovery.  The new circuit is being optimised.... 

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