http://www.miningweekly.com

Global Mining News in real time

South America News

Flooding in Colombia coal mine killed 12, officials say

By: Reuters Twelve miners were killed in a flooded underground coal mine in northeastern Colombia, the world's fourth-largest exporter of the mineral, local officials and rescue workers said on Friday. Flooding in the mine, located in the Amaga municipality in Antioquia, a region that has been the site of... 

Gold recoverer Goldplat turning attention to platinum opportunity

By: Martin Creamer Gold recovery company Goldplat, the South African operations of which generated an operating profit in the three months to September 30, is taking steps to diversify into platinum group metal (PGM) recovery. The London-AIM-listed company, which serves companies including AngloGold Ashanti,... 

Gold recoverer Goldplat turning attention to platinum opportunity
Goldplat COO Hansie van Vreden

South American miner Troy reports lower output

By: Esmarie Swanepoel Despite reporting a slight decline in production during the three months to September, ASX- and TSX-listed gold miner Troy Resources has maintained its production expectations for the financial year to the end of June 2015. During the quarter under review, group gold production dropped to 20 624... 

Low kimberlite discovery rate seen sparking diamond production crisis by turn of decade

By: Jade Davenport The stability of the diamond sector has always been a slave to the fine balance between supply and demand. Over the last century, the industry has had to contend with various crises of oversupply, largely spurred by conflict, global economic instability and the vagaries of consumer demand. As a... 

Low kimberlite discovery rate seen sparking diamond production crisis by turn of decade

Newmont earnings fall on lower prices, beats Street

By: Henry Lazenby Gold producer Newmont Mining has reported lower earnings for the three months ended September 30, as lower sales and metals prices weighed on its balance sheet. However, the Denver, Colorado-based company’s financial results beat analyst forecasts, helped, in part, by lower costs. 

Newmont earnings fall on lower prices, beats Street

Vale reports increased production from African operations in third quarter

By: Keith Campbell Brazilian mining major Vale’s Moatize coal operation in the Tete province of Mozambique increased its output during the third quarter (3Q) of this year, in comparison to the second quarter (2Q). This was revealed by the group in its 3Q14 Production Report. During the third quarter, Moatize... 

Met coal price recovery unlikely until 2016 – Moody’s

By: Henry Lazenby A recovery in metallurgical (met) coal prices to between $135 and $145 a metric tonne is unlikely before the second half of 2016, says Moody’s Investors Service. In its sector commentary ‘Slow China demand, few curtailments push out met coal recovery’, published on Thursday, the firm noted that... 

Vale posts surprise loss, shares dive

By: Reuters Vale posted a surprise $1.44-billion loss, and its shares tumbled to a five-and-a-half-year low as investors worried about the cost of the Brazilian miner's expansion plans and a possible cut to its dividend in a new era of lower iron-ore prices. Vale cited low iron-ore prices and a weak local... 

Vale posts surprise loss, shares dive

Goldcorp stock falls on Q3 earnings miss

By: Henry Lazenby The NYSE-listed stock of miner Goldcorp on Thursday fell 10% after the world’s largest gold producer by market capitalisation swung to a net loss for the three months ended September 30. Vancouver-based Goldcorp had a loss for the third quarter of $44-million, or $0.05 a share, compared with net... 

Goldcorp stock falls on Q3 earnings miss

Yamana Gold posts big loss on charges for Brazil mines, tax

By: Reuters Yamana Gold reported a hefty third-quarter net loss on Wednesday as large impairment charges for three Brazilian mines and charges for newly enacted Chilean taxes more than offset higher production and lower costs. The Canadian-based gold miner recorded a $668-million impairment charge for its... 

Augusta acquisition adds to Hudbay’s Q3 profit

By: Henry Lazenby Canadian base metals producer Hudbay Minerals has generated a profit of $49.2-million, or $0.22 a share, for the three months ended September 30, up from $3-million for the same period in 2013, boosted by gains related to the C$555-million acquisition of Augusta Resource Corp in July. Hudbay... 

Barrick Gold reports narrower Q3 profit on lower sales, prices

By: Henry Lazenby The world’s largest gold producer by output, Barrick Gold, experienced narrower net earnings for the quarter ended September 30, as lower gold and copper sales, as well as lower realised prices impacted on its performance. The Toronto-based miner, with operations in North and South America,... 

Barrick Gold reports narrower Q3 profit on lower sales, prices

300 a year doing mechanised mining courses at Wits centre

By: Martin Creamer Three hundred people a year are doing courses in mechanised mining offered by the University of the Witwatersrand Centre for Mechanised Mining Systems (CMMS). CMMS director Dr Declan Vogt, who was interviewed by Mining Weekly Online at the university, sees one of the centre’s main roles as... 

300 a year doing mechanised mining courses at Wits centre
Photo by Duane Daws
CMMS director Declan Vogt

Trans Hex takes over Namaqua diamond mines from De Beers

By: Martin Creamer The long-awaited acquisition by Trans Hex of the Namaqualand diamond mines from De Beers has become effective. The JSE-listed Trans Hex expects to receive cash flows of R653-million over the life of Namaqualand Mines, which have a resource of between 1.6-million carats and 1.9-million carats that... 

Trans Hex takes over Namaqua diamond mines from De Beers
Photo by Duane Daws
Trans Hex CEO Llewellyn Delport

Chile's Codelco issues $980m bond to help fund investments

By: Reuters Chile's Codelco, the world's largest copper producer, said on Tuesday it has issued $980-million in 30-year senior unsecured notes to help finance an ambitious investment plan. The bond carries a 4.875% annual coupon and 4.966% yield. 

Southern Copper's net profit falls 5.8% in third quarter

By: Reuters Southern Copper's net income fell 5.8% in the third quarter from the same period a year earlier on higher sales costs and a new mining tax in Mexico, the global miner said on Tuesday.The company's reported third-quarter net income of $324.3-million, or $0.039 a share, came in slightly below... 

New London gold benchmark to go live in early Q1 2015 – LBMA 

By: Reuters A new electronic gold price mechanism is expected to be in operation early in the first quarter of 2015, replacing the century-old gold benchmark, the London Bullion Market Association (LBMA) said on Monday. The gold industry group said it has launched a survey to request further feedback from... 

Largo Resources achieves 71% of Maracas Menchen mine’s first phase capacity

By: Henry Lazenby Vanadium producer Largo Resources' flagship Maracas Menchen mine, in Bahia state, Brazil, last week achieved a production record, representing about 71% of the plant’s designed Phase 1 capacity. The company reported a 40% production rate early this month. 

Underground coal gasification roadmap on the way – FFF

By: Martin Creamer A roadmap for underground coal gasification (UCG) is on the way with its own association and charter, Fossil Fuel Foundation (FFF) stalwart Professor Lionel Falcon said at the weekend. Speaking at the FFF’s 20th anniversary awards banquet, Falcon said the UCG initiative followed the finalisation... 

Underground coal gasification roadmap on the way – FFF
Photo by Duane Daws
Fossil Fuel Foundations' Lionel Falcon

Anglo American ships first ore from Minas-Rio

By: Natasha Odendaal The first ore from Anglo American’s Minas-Rio iron-ore project, in Brazil, has been shipped within budget, CEO Mark Cutifani said on Monday. The more than 80 000 t of iron-ore for the pellet feed market had been loaded onto a chartered vessel at the dedicated export terminal at the Port of Açu,... 

Anglo American ships first ore from Minas-Rio
Anglo American CEO Mark Cutifani

BHP targets specific savings at core projects

By: Esmarie Swanepoel Mining giant BHP Billiton on Monday expanded on its projected $3.5-billion productivity gains, with CEO Andrew Mackenzie explaining that the simplified portfolio would reduce operating costs and improve capital efficiency. “We are confident that our productivity drive will be accelerated by the... 

Brazil's Usiminas taps Tenaris executive as senior VP

By: Reuters A key shareholder in Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA said on Friday that industry veteran Tulio Chipoletti was named as senior industrial VP on a temporary basis. Ternium SA, one of the two controlling shareholders in the company known as Usiminas, said Chipoletti's... 

Peru copper mine Antamina says weaker output to end over medium term

By: Reuters Antamina, Peru's top copper mine, said on Friday it expects a period of weaker production to subside in "the medium term." The mine, in which BHP Billiton and Glencore Xstrata each have 33.75% stakes, produced 246 851 t of copper in the first eight months of 2014, 14% less than in the same... 

Latest WGC report demonstrates how responsible gold mining distributes value

By: Henry Lazenby The World Gold Council (WGC) has released the second edition of its ‘Responsible gold mining and value distribution’ report, covering 2013 data, highlighting the continuing contribution responsible gold mining makes in supporting economic development in host countries. The report was published on... 

Latest WGC report demonstrates how responsible gold mining distributes value

PanTerra investigates other gold opportunities

By: Esmarie Swanepoel Gold miner PanTerra Gold on Friday told shareholders that it was reviewing a number of acquisition or merger opportunities, and was currently contemplating five specific mine developments, as its Las Lagunas mine continued to deliver below expectations. An earlier review process had revealed... 

BHP sets sights on another $3.5bn in yearly productivity gains

By: Esmarie Swanepoel Mining giant BHP Billiton said on Friday that it was targeting further productivity gains, with the company operating more like an advanced manufacturer than a traditional resource company. “By the end of the 2017 financial year, we are targeting at least $3.5-billion of additional annualised... 

BHP sets sights on another $3.5bn in yearly productivity gains

Vale lifts Q3 iron-ore output to historic highs

By: Henry Lazenby Diversified Brazil-based miner Vale on Thursday reported record iron-ore output for the third quarter ended September 30, boosted by quarter-on-quarter gains in all its business segments. Vale said iron-ore output was 85.7-million tonnes in the period, underpinned by the ramp-ups of Plant 2 at... 

Vale lifts Q3 iron-ore output to historic highs

Chile Congress gives green light to Codelco capitalisation

By: Reuters Chile's Congress approved late Wednesday the government's capitalisation plan for Codelco, which will see the state copper firm receive $4-billion over the next five years to help fund an ambitious investment programme. The Chilean government announced in August that it planned to give Codelco,... 

Hochschild’s Q3 output down, working to overcome construction delays at Peru project

By: Henry Lazenby Latin America-focused precious metals producer Hochschild Mining on Thursday said attributable output for the three months ended September 30 fell 24% to 4.8-million silver-equivalent ounces, mainly owing to no contribution from the depleted Ares mine, in Peru. Despite output being lower than the... 

PotashCorp reports lower Q3 income on higher taxes, disappointing offshore investments

By: Henry Lazenby The world’s largest fertiliser company PotashCorp of Saskatchewan on Thursday reported lower third-quarter earnings for the three months ended September 30, as increased taxes and a disappointing performance from its offshore investments weighed on results. The Saskatoon, Saskatchewan-based... 

PotashCorp reports lower Q3 income on higher taxes, disappointing offshore investments

ABG Q3 production up 16%, AISC continues decline

By: Leandi Kolver Tanzania-focused gold producer African Barrick Gold (ABG) increased its production for the three months ended September 30, by 16% year-on-year, while all-in sustaining costs (AISC) declined for the eight successive quarter. ABG CEO Brad Gordon said the company’s production amounted to 190 986 oz... 

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/€ = 13.83Change: -0.12
R/$ = 11.04Change: -0.17
Au 1172.85 $/ozChange: 3.68
Pt 1231.00 $/ozChange: -0.50