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China's Zijin Mining extends global reach with Barrick, Ivanhoe partnerships; Aus offer

By: Henry Lazenby One of China’s largest mining companies Zijin Mining Group has extended its global reach after forming two new long-term mining partnerships with Western miners, while sustaining an aggressive pursuit of an Australian gold miner.  The world’s largest gold producer by output Barrick Gold on... 

1 000 platinum-powered Hyundais in UK this year – Amplats

By: Martin Creamer Fuel cell electric vehicles will allow platinum mining to build its future in a truly sustainable way on the back of zero exhaust emissions and the use of the world’s endless supply of hydrogen as a fuel source, Anglo American Platinum (Amplats) CEO Chris Griffith has told Platinum Week 2015 in... 

1 000 platinum-powered Hyundais in UK this year – Amplats
Photo by Duane Daws
Chris Griffith

Gold struggles near $1 200 on Yellen comments, robust dollar

By: Reuters Gold was trading close to its lowest level in over a week on Monday after Federal Reserve Chair Janet Yellen indicated the US central bank was likely to raise interest rates this year and as the dollar strengthened to its highest in a month. Spot gold had slipped 0.1% to $1 204.55 an ounce by... 

Well-known institutional investor joins U3O8 Corp’s board

By: Henry Lazenby Uranium explorer U3O8 Corp has appointed well-known institutional investor David Franklin to its board with immediate effect. Franklin brought to the board a proven record of mining investment experience that would help U3O8 Corp expand its investor reach and position the company for further... 

Agnico Eagle takes a 17.4% stake in Belo Sun

By: Henry Lazenby Canadian gold miner Agnico Eagle has acquired a 17.4% stake in Belo Sun Mining, which is developing the Volta Grande project in Para state, Brazil. Belo Sun on Thursday issued 62.5-million common shares to Agnico Eagle at C$0.24 apiece, for proceeds of C$15-million. 

Agnico Eagle takes a 17.4% stake in Belo Sun
Photo by Belo Sun
Drilling at Volta Grande, Brazil.

Teck Resources lifts position in Artha Resources after option termination

By: Henry Lazenby Canadian diversified miner Teck Resources has acquired 1.5-million units of explorer Artha Resources. This followed an April 23 agreement between Artha and Teck's Argentina subsidiary to terminate the Aguilar option agreement, eliminating Artha’s liability of C$696 000 in firm expenditure... 

De Beers inviting bids for life-extending takeover of Kimberley Mines 

By: Martin Creamer South Africa’s De Beers Consolidated Mines (DBCM) on Thursday announced its intention to dispose of its Kimberley Mines as a going concern by competitive tender to a new owner able to extend the life of the historic operations beyond 2018 and preserve 650 jobs in the process. The current... 

De Beers inviting bids for life-extending takeover of Kimberley Mines
Photo by Duane Daws
Phillip Barton

Australian miners in Latin America advised to find in-country help early on

By: Esmarie Swanepoel Australian resources companies have been advised to conduct ‘basic groundwork’ when moving into the Latin American sector. Speaking at the second day of the Paydirt Latin America Downunder conference, in Sydney, Brisbane-based mining consultancy MEC Mining said that there were lessons that can... 

More than two-thirds of megaprojects face cost overruns – EY report

By: Esmarie Swanepoel New research by Ernst & Young (EY) has found that despite the significant cost cutting in the resources sector globally, multi-billion dollar projects were still plagued by cost overruns. In its ‘Opportunities to Enhance Capital Productivity’ report, EY found that an average budget overrun of... 

Great Panther Silver eager to start work on Coricancha

By: Henry Lazenby Mexico-focused Great Panther intends to start, as soon as possible, surface drilling at the Coricancha mine complex, through which it has gained a foothold in Peru, the second largest silver producing country in Latin America. The surface drilling will focus on defining and expanding zones of... 

BHP Billiton resolves ‘bribery’ allegations

By: Megan van Wyngaardt The investigations into BHP Billiton’s previously terminated minerals exploration and development efforts, as well as hospitality provided by the mining giant at the 2008 Beijing Olympic Games, has been concluded by the US Securities and Exchange Commission (SEC) and the US Department of Justice.... 

Jewellers back to black with rhodium, ruthenium

By: Reuters Ice-white platinum has long had enduring appeal in jewellery and experimental designers are now also turning to its lesser-known sister metals rhodium and ruthenium to produce work in darker hues. The deep gunmetal finish of black rhodium plate and the pure black of ruthenium are both becoming... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot

By: Martin Creamer The Chamber of Mines of South Africa on Wednesday revealed a strategic plan to get South Africa’s “great mining industry” back on the front foot. Speaking at the well-attended 125th annual general meeting (AGM) of the historic organisation, chamber president Mike Teke – who was re-elected for a... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot
Photo by Duane Daws
Chamber president Mike Teke (right) having a word with his vice-president Graham Briggs.

EU lawmakers seek ban on 'blood metals' in surprise vote

By: Reuters The European Parliament voted on Wednesday to ban all products that contain "blood metals" sold by African warlords, but the legislation is likely to be blocked by EU governments who fear it would impose an unrealistic burden on business. The surprise result marked a defeat for the pro-business... 

China delays flake graphite restarts

By: Creamer Media Reporter Much of China’s flake graphite production remains offline following a prolonged suspension of operations in many areas owing to severe winter conditions. Benchmark Mineral Intelligence said on Tuesday while the closures had eased pressure on inventories that had been accumulated throughout 2014,... 

China delays flake graphite restarts

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.

Nyrstar agrees sale option for Peruvian mine

By: Reuters Belgium's Nyrstar, the world's largest zinc producer, has sold an option to buy its mothballed Peruvian mine in Coricancha to Canada's Great Panther Silver. Great Panther will pay $1.5-million for its option, with the possibility of extending it for another year for the same amount, Nyrstar said... 

Peru strike spares output at top copper and gold mines

By: Reuters Peru's production of copper and gold was largely unaffected by a national strike on Monday as unionised workers declined to down tools for fear of losing their jobs and companies used replacements. Walk-outs at some mines, however, might have curbed silver, tin and iron output, according to... 

Rio Tinto, Mongolia agree on Oyu Tolgoi underground development path

By: Esmarie Swanepoel Mining giant Rio Tinto on Tuesday announced the signing of the mine development and financing plan for the underground mine at the Ouy Tolgoi copper operation, in Mongolia. The plan addressed key outstanding shareholder issues, and set out an agreed basis for the funding of the project Rio said... 

Rio Tinto, Mongolia agree on Oyu Tolgoi underground development path

Shell-BG deal may be end point rather than harbinger – Russell

By: Reuters There is a widespread assumption that weak commodity prices are likely to spark a wave of merger and acquisition activity as stronger companies seek to buy assets on the cheap. The $70 billion buyout of BG by larger rival Royal Dutch Shell is generally viewed by investors and analysts as the... 

Shell-BG deal may be end point rather than harbinger – Russell

Ten thought dead in Guyana gold mine collapse

By: Reuters A mining pit collapsed in the Guyanese jungle on Sunday, presumably burying ten gold miners, authorities and a private association said on Monday. "The men are confirmed dead," said Ajay Baksh, a consultant with the local Guyana gold and diamond miners association. 

Iron output from Shougang's Peru mine halted by strike-union

By: Reuters Iron output from the Peru unit of Shougang Group Co Ltd was halted on Monday as the union called a national strike, seeking stronger labour laws for mining workers, union leader Julio Ortiz said. Ortiz said all 963 workers at the mine took part in the strike and the company did not deploy... 

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.

Rio Tinto to sell aluminium assets in $1bn deal – paper

By: Reuters Global miner Rio Tinto plans to sell some of its aluminium assets in a potential $1 billion deal, the Financial Times reported, reviving a sale plan for its Pacific Aluminium unit two years after it was cancelled. The Financial Times, citing "people aware of Rio's plans", said on Sunday that Rio... 

Southern Copper to announce 'pause' in Peru project – sources

By: Reuters Southern Copper Corp was preparing to announce a formal "pause" in its stalled $1.4-billion Tia Maria project in Peru amid deadly protests against it, two government sources and a company source said on Friday. 

Vale secures $3bn credit line

By: Reuters Brazilian miner Vale said on Friday it secured a $3-billion revolving credit facility for a term of five years. The credit line, which was signed with a group of 24 global banks, replaces a previous facility for the same amount secured in 2011. 

BHP Billiton spin-off South32 makes debut

By: Esmarie Swanepoel BHP Billiton spin-off South32 made its debut on the ASX on Monday at A$2.13 a share, giving the Australia- and South Africa-focused company an A$11.96-billion market capitalisation. The demerged entity will on Monday also start trading on the JSE and the LSE, where it has secondary listings. 

Mining unions in Peru start national strike-union head

By: Reuters Unionised workers at mines in Peru started an indefinite strike on Monday in a bid to press the government to strengthen labour laws, the head of the national mine workers union said. The work stoppages scheduled at several mines threaten to curb mineral production in Peru, the world's... 

Nord Gold says Q1 net profit at $88.5m vs $24.6m in Q1 of 2014

By: Reuters Russian gold miner Nord Gold said on Monday its first-quarter net profit more than tripled year-on-year to $88.5-million from $24.6-million seen a year earlier, positively affected by higher refined gold production. The net profit was also affected by the fact that some gold produced at the end... 

Chile cuts mining investment outlook by $30bn over next decade

By: Reuters Chile scaled back its expectations for investment in its vast mining industry by some $30-billion over the next decade, due to fewer gold mines being developed and other projects being delayed, Mining Undersecretary Ignacio Moreno said on Thursday. Mining investment in Chile, the world's top... 

Platinum price could test $1 000/oz in 2015 – report

By: Megan van Wyngaardt Although the platinum price is expected to average $1 170/oz this year, Thomson Reuters GFMS warns that it might test the $1 000/oz level during the year. “The bearish view is based on the increase in supply, more specifically the estimated 22% rise in South Africa’s mine production and 10% rise... 

Platinum price could test $1 000/oz in 2015 – report
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